https://theforextradingcoach.com/
I can help you if you are brand new to trading or if you’ve been trading for a while and require a successful strategy with the on-going support of a full time trader.

I offer Forex coaching because I want to save you the time and money that I and so many other traders lose trying to figure out how to trade the markets. I’ve delivered my Forex coaching course to people in over 111 Countries around the world & I would like to help you to.]]>enInvestingCopyright Andrew Mitchemhttps://d3wo5wojvuv7l.cloudfront.net/t_rss_itunes_square_1400/images.spreaker.com/original/8738754f16bc7703f32084acf0a5df80.jpghttps://theforextradingcoach.com/Sun, 12 Jul 2026 13:22:09 +0000Andrew MitchemAndrew Mitcheminfo@theforexxtradingcoach.comI’ve been trading the Forex market full time for 14 years. I’ve developed a trading strategy that works consistently across all currency pairs, all time frames and at all times of the day, so there’s something that will suit you. I can help you if...
I can help you if you are brand new to trading or if you’ve been trading for a while and require a successful strategy with the on-going support of a full time trader.

I offer Forex coaching because I want to save you the time and money that I and so many other traders lose trying to figure out how to trade the markets. I’ve delivered my Forex coaching course to people in over 111 Countries around the world & I would like to help you to.]]>falseepisodichttps://www.spreaker.com/episode/641-i-found-a-trading-pattern-that-repeats-for-years--72938162Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #641: I Found a Trading Pattern That Repeats for Years In this video:
00:32 – How to use and understand Support and Resistance levels.
01:14 – What are Support and Resistance levels.
01:45 – UK Oil (Brent Crude Oil) price bounces at 70.00
02:20 – Charts from 2026 – 2014 showing bounces at 70.00
03:20 – Identify setups at these important levels.
04:38 – Check out my new Masterclass.
05:03 – Talk with us.
05:13 – Blueberry Markets as a Forex Broker.
05:52 – How to contact me for trading help. Do you realize how important support and resistance levels are? Do you know how to find them on your chart and how to take advantage of them to ensure you become a good trader? Let’s find out about that and more right now. The traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 641. Outside again on another beautiful winter’s day here in Nelson in New Zealand. How to use and understand Support and Resistance levels. So today I want to talk about support and resistance levels and how you can benefit from understanding them and using them in your trading. Now, it’s very easy in hindsight to go and look at support and resistance levels, and it’s very easy to scan back through your charts and go, “Oh look, the price bounced there and it bounced there,” and you conveniently almost ignore other levels that potentially in real time could have also been useful support and resistance levels but didn’t actually do anything. And so I find that a lot of people, you know, it’s a bit like Fibonacci levels. It’s something that’s very easy if you see a screenshot and ideal support and resistance levels, but in real time it potentially can be quite hard. What are Support and Resistance levels. So support and resistance levels, if you don’t know, are horizontal levels on your charts. And they are where historically prices bounced, reversed, stalled, etc. I tend to find that if you include a round number or look for round numbers, you’ll find that support and resistance levels tend to also form at those levels. Now you can go and find out all about round numbers from a video I’ve made just a few weeks ago. UK Oil (Brent Crude Oil) price bounces at 70.00 But if you look at your charts, a classic example I’m going to use today is UKOil, UK Brent Crude Oil. Go and have a look at your charts while you’re watching or listening to this, and have a look at the 70 level. Now just last week at the beginning of July, you see that the price would have come down to 70 and has now bounced right now as we are speaking. And so I’m going to put 4 screenshots up on screen for you right now for you to have a look at. Now, I’ve identified some of the support and resistance levels, not all of them. These charts you’re going to see right now are the UKOil daily chart. Charts from 2026 – 2014 showing bounces at 70.00 So the first chart you’ll see is from now back to 2023. You’ll see I’ve identified levels where the price has reversed at that 70 level. The next chart you’re going to see will be from 2023 back to 2021. Again, I’ve identified some of those levels so you can see the importance of those price bounce levels. The next chart, this third one, will be 2021 back to 2017. Again, lots of examples here. I have not identified all of them. But just to give you an idea of support and resistance, again, all happening at exactly 70. Then the fourth chart on screen right now is from 2017 all the way back to 2014. Again, lots and lots of examples. So here’s maybe 20-25 examples that I’ve just shown you there on the charts of 1 chart, 1 market, UK Brent Crude Oil bouncing at just that one level of 70. Identify setups at these important levels. Now don’t you think it would have been important last week to have looked at that chart? And by the way, the reason I’m talking about this is because I identified this exact thing to our clients on our forum site when we saw a buy trade on the market that you’ve just been looking at, and the price candle bounced at 70. Now, the important thing to note here is you can’t just go and look at every time that the price bounces at a level and say, “Oh, it’s hit that level, I’m taking a buy trade again,” or “It’s gone through that and bounced at 70 and now I’m taking a sell trade.” You can’t do that. You still need to have a strategy, some logic. From my point of view, we use candle formations and a number of other things that we look at and teach here at The Forex Trading Coach. But the 70 level was hit, the candle bounced at that level, and then formed a good strong bullish candle. So I put the 4 screenshots that you’ve just seen in front of you now on the forum site and said, “Look, here’s the reason. Not only the candle pattern in the right part of the chart, but now it’s bouncing at 70.” And hey, look, go back further in time and look at how important that level was. So the trade I actually took was a 12-hour chart trade. It’s a slightly longer time frame chart trade, and 70 was a massive level. So if you’d like to find out more about how we do this and how we teach our clients from around the world, with clients in 111 countries, how to do this, if you’ve not been on my new masterclass, it’s around 15 minutes long. It’s on demand, so you can just jump on whenever you like. Check out my new Masterclass. I’ll put a link to that masterclass so you can get onto that and have a look at some examples exactly like I’ve just mentioned, and see some actual trades that we’ve taken as well. I’ll put a link to that masterclass. Talk with us. If you’d like to speak to us, you can book a call to speak to myself or one of my team, and I’ll put a link to that here as well. Blueberry Markets as a Forex Broker. If you’re out there looking for a really good, high-quality broker that offers 12-hour charts, such as the trade I’ve just mentioned, and markets like that, not only forex but metals, indices, cryptos, and commodities, I’ll put a link to Blueberry Markets as well. They’re based over in Australia, and pretty much anybody from most countries around the world can open an account with Blueberry Markets. I highly recommend them. Great people, great service, and very good spreads. Withdrawal speeds are incredible. I’ll put a link to them so you can consider Blueberry Markets if you’re out there looking for a good, high-quality broker to trade through. How to contact me for trading help. So that’s it for this week. Don’t forget to like, share, and subscribe. Any questions? Please email me directly at Andrew@TheForexTradingCoach.com. See you this time next week. Bye for now. Episode Title: #641: I Found a Trading Pattern That Repeats for Years Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=24375Sun, 12 Jul 2026 13:00:40 +0000Andrew MitchemI Found a Trading Pattern That Repeats for Years  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #641: I Found a Trading Pattern That Repeats for Years In this video:
00:32 – How to use and understand Support and Resistance levels.
01:14 – What are Support and Resistance levels.
01:45 – UK Oil (Brent Crude Oil) price bounces at 70.00
02:20 – Charts from 2026 – 2014 showing bounces at 70.00
03:20 – Identify setups at these important levels.
04:38 – Check out my new Masterclass.
05:03 – Talk with us.
05:13 – Blueberry Markets as a Forex Broker.
05:52 – How to contact me for trading help. Do you realize how important support and resistance levels are? Do you know how to find them on your chart and how to take advantage of them to ensure you become a good trader? Let’s find out about that and more right now. The traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 641. Outside again on another beautiful winter’s day here in Nelson in New Zealand. How to use and understand Support and Resistance levels. So today I want to talk about support and resistance levels and how you can benefit from understanding them and using them in your trading. Now, it’s very easy in hindsight to go and look at support and resistance levels, and it’s very easy to scan back through your charts and go, “Oh look, the price bounced there and it bounced there,” and you conveniently almost ignore other levels that potentially in real time could have also been useful support and resistance levels but didn’t actually do anything. And so I find that a lot of people, you know, it’s a bit like Fibonacci levels. It’s something that’s very easy if you see a screenshot and ideal support and resistance levels, but in real time it potentially can be quite hard. What are Support and Resistance levels. So support and resistance levels, if you don’t know, are horizontal levels on your charts. And they are where historically prices bounced, reversed, stalled, etc. I tend to find that if you include a round number or look for round numbers, you’ll find that support and resistance levels tend to also form at those levels. Now you can go and find out all about round numbers from a video I’ve made just a few weeks ago. UK Oil (Brent Crude Oil) price bounces at 70.00 But if you look at your charts, a classic example I’m going to use today is UKOil, UK Brent Crude Oil. Go and have a look at your charts while you’re watching or listening to this, and have a look at the 70 level. Now just last week at the beginning of July, you see that the price would have come down to 70 and has now bounced right now as we are speaking. And so I’m going to put 4 screenshots up on screen for you right now for you to have a look at. Now, I’ve identified some of the support and resistance levels, not all of them. These charts you’re going to see right now are the UKOil daily chart. Charts from 2026 – 2014 showing bounces at 70.00 So the first chart you’ll see is from now back to 2023. You’ll see I’ve identified levels where the price has reversed at that 70 level. The next chart you’re going to see will be from 2023 back to 2021. Again, I’ve identified some of those levels so you can see the importance of those price bounce levels. The next chart, this third one, will be 2021 back to...]]>363false1fullhttps://www.spreaker.com/episode/640-if-you-can-t-master-this-you-ll-never-succeed-in-trading--72827940https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ #640: If You Can’t Master This, You’ll Never Succeed in Trading In this video:
00:24 – The mindset of successful traders.
01:13 – You need to be excited by trading.
02:40 – Don’t get too emotional with winning trades either.
03:30 – Accept losses if you traded your strategy correctly.
03:58 – Community is so important.
04:30 – Examples from my experience.
06:42 – Check out my new Masterclass.
07:00 – Blueberry Markets as a Forex Broker.
07:33 – How to contact me for trading help. Do you have the right mindset to be a successful trader? It’s a really important aspect of being a good trader or a poor trader. Let’s talk about what’s required and more right now. Hey traders, Andrew Mitchem here at The Forex Trading Coach for video and podcast number 640. The mindset of successful traders. Today I want to talk about mindset. It’s really, really important. And I’ve just been off a webinar where a lot of traders and investors from around the world were talking about the importance of mindset and what it requires to be that kind of person that is successful. You see, trading is not for everybody, and unfortunately, a lot of people see trading online as something to maybe give up the job because they hate the job, or they need some money or, you know, they think it’s a get-rich-quick scheme, or they just simply want to be lazy and think it’s a great way of making lots of money without any effort. And the reality is it’s not any of those. And if that’s your mindset, then it really is not something I suggest that you do because it’s going to end in disappointment and failure and just wasting money and time on your behalf. You see, the reality is that trading is much different. You almost need that entrepreneur kind of mindset to do it. You’ve got to be interested in it to start with. You’ve got to be excited by the markets. You’ve got to want to do it. Like, how much do you really, really want to do this? You need to be excited by trading. And that becomes a big part of it because what you do have to do is you have to have that mindset where you show up consistently. You have to be disciplined. You have to show up. You have to understand risk. You have to understand the strategy and stick to it. Now to me, good trading is almost boring, and I mean that in a really good way because you have to control emotions as a trader. Now you have to control your mindset, your heart, all the emotions that come into making and losing money. And so to do this properly, you have to trade your strategy, your system, and you almost have to forget the monetary value. You can’t treat it like a game. You can’t gamble. You have to stick to your rules, stick to your discipline. Pass on trades when they’re there. If you see the trades, take the trades. And you also need to not get knocked down and despondent when you have losing trades, and you have to accept there will be times where you get losing days, losing weeks, possibly losing months. And you have to look at this and go, well, did I stick to my plan? Did I stick to my strategy? And if you did, then fine, carry on. Don’t get too emotional with winning trades either. Likewise, the other side of the spectrum is you can’t get too stupidly carried away when you have profitable trades or lots of profitable trades. Yes, it’s really good. Yes, that’s why we’re doing it. Yes, we’re looking at making money. Of course we are. But you can’t get carried away and do stupid things because that’s where I see a lot of people do these things. You know, it’s almost like they’re bulletproof. They can’t fail. So they then start doubling up, or they take the stop losses out because, “I know the trade is going to reverse on me soon and come back into profit.” All those silly things that people who don’t have the correct mindset end up doing. And of course, it always, always backfires. It just always does. So have the mindset of consistency, showing up, sticking to your plan, being disciplined, almost being boring in your trading, your approach, and you will find that that will help you massively. Accept losses if you traded your strategy correctly. Now, I’ve talked about accepting losses, and it is something that you do have to accept. And you know you can’t go out there blaming the broker, blaming the market, blaming everything. If you did something silly and you broke your rules, then just blame yourself. If you stuck to your rules and the market just did something different, then you know, that’s the way it goes. Nothing is 100% guaranteed, and trading is all about probability and sticking to the same disciplined system. Community is so important. Also, I think community is a big part of things as well. If you’re sitting there just trading on your own, maybe off your phone or your laptop or your iPad, you’ve really got no sort of backup and support. And I think that community, being willing to help people, to share ideas, to invest in yourself, whether it’s your time or financial investment into someone else’s time and information and knowledge, all of those things become a big part of the mindset of someone who’s out there doing well. Examples from my experience. Now, I just want to give you a few examples of things that I’ve done in my life that could help you with your trading, especially if you’re struggling right now. I practiced karate for many, many years. I practiced it, my kids have been through it, and I taught it for many years also. Now, when you see someone practicing any sport, martial arts for example, what you see is the end result and you go, that looks really cool. And look how well they can kick or, you know, punch or block or do karate, whatever it might be. What you don’t see is all the hundreds or thousands of hours of discipline, of learning, of fitness, of turning up to the dojo when you’re absolutely shattered. It would be easier to stay home. You know, all those kinds of things that go into any sort of high to top-level sport. So you’ve got to show up, you’ve got to be disciplined, and it can work very nicely for you. Moving on from that, helping my wife raise 5 children. You know, it’s not easy. If you’ve got kids, you know how hard it is. There are a lot of times when you think, “You know, I can’t do something. I’m not going to do it today.” Other things I’ve done in my life include learning to fly a helicopter. You know, you’ve got to invest your time, your money. It’s hard. It’s really, really, really hard at times. So you just think, “Oh, it’d be easier to give up.” But you don’t. You show up, you do your exams, you learn your practical information. It’s a constant learning process, very expensive, and time-consuming. Other things I’m doing right now include learning to play the guitar and sing on stage. Again, hard. It’s easy to watch someone play a guitar and sing on stage. They’ve done it for years and years and they’re really good. You think, “Wow, I can do that.” What you don’t see is all the hours behind the scenes of learning to play that guitar and the songs, learning different chord formations and strumming patterns, learning the vocal techniques involved with singing, and then actually being able to stand on stage and do it in front of other people. So all these things take time, and I think to do anything good in life, and trading is just a perfect example, it does take time. Don’t expect miracles quickly. Seek help, be willing to learn, accept new ideas, be willing to seek mentors if that’s something you want to do. And it comes back to, again, how much do you really, really, genuinely want to do it? Check out my new Masterclass. So if you are one of those people who really, genuinely wants to learn how to trade, have a look at our masterclass. I’ll put a link to it here below. It’s only about 15-20 minutes. It’s on demand so you can click on it and have a look at it when it suits you. Just turn your phone off, put the kids to bed, watch it for 20 minutes, and you’ll learn so much from it. Blueberry Markets as a Forex Broker. And if you’re out there looking for a really good quality MT4 and especially MT5 broker, I can highly recommend Blueberry Markets. People from right around the world can open an account with them. I’ve been with them for years and I trade not only forex but also metals, commodities, cryptos, and indices with them as well. I’ve actually withdrawn some funds just this week from 3 different accounts. The funds were here within less than 24 hours, so really quick there as well. So I’ll put a link to Blueberry Markets if you’re out there looking for a good broker. How to contact me for trading help. Any other topics, feedback, or questions you have, please send me an email at Andrew@TheForexTradingCoach.com. I see you this time next week. Bye for now. Episode Title: #640: If You Can’t Master This, You’ll Never Succeed in Trading https://www.blueberrymarkets.net/lp/tftc-forex-brokerhttps://theforextradingcoach.com/online_video_coaching_forex_course.html]]>https://theforextradingcoach.com/?p=24330Sun, 05 Jul 2026 14:45:05 +0000Andrew MitchemIf You Can’t Master This, You’ll Never Succeed in Trading  Podcast:...https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ #640: If You Can’t Master This, You’ll Never Succeed in Trading In this video:
00:24 – The mindset of successful traders.
01:13 – You need to be excited by trading.
02:40 – Don’t get too emotional with winning trades either.
03:30 – Accept losses if you traded your strategy correctly.
03:58 – Community is so important.
04:30 – Examples from my experience.
06:42 – Check out my new Masterclass.
07:00 – Blueberry Markets as a Forex Broker.
07:33 – How to contact me for trading help. Do you have the right mindset to be a successful trader? It’s a really important aspect of being a good trader or a poor trader. Let’s talk about what’s required and more right now. Hey traders, Andrew Mitchem here at The Forex Trading Coach for video and podcast number 640. The mindset of successful traders. Today I want to talk about mindset. It’s really, really important. And I’ve just been off a webinar where a lot of traders and investors from around the world were talking about the importance of mindset and what it requires to be that kind of person that is successful. You see, trading is not for everybody, and unfortunately, a lot of people see trading online as something to maybe give up the job because they hate the job, or they need some money or, you know, they think it’s a get-rich-quick scheme, or they just simply want to be lazy and think it’s a great way of making lots of money without any effort. And the reality is it’s not any of those. And if that’s your mindset, then it really is not something I suggest that you do because it’s going to end in disappointment and failure and just wasting money and time on your behalf. You see, the reality is that trading is much different. You almost need that entrepreneur kind of mindset to do it. You’ve got to be interested in it to start with. You’ve got to be excited by the markets. You’ve got to want to do it. Like, how much do you really, really want to do this? You need to be excited by trading. And that becomes a big part of it because what you do have to do is you have to have that mindset where you show up consistently. You have to be disciplined. You have to show up. You have to understand risk. You have to understand the strategy and stick to it. Now to me, good trading is almost boring, and I mean that in a really good way because you have to control emotions as a trader. Now you have to control your mindset, your heart, all the emotions that come into making and losing money. And so to do this properly, you have to trade your strategy, your system, and you almost have to forget the monetary value. You can’t treat it like a game. You can’t gamble. You have to stick to your rules, stick to your discipline. Pass on trades when they’re there. If you see the trades, take the trades. And you also need to not get knocked down and despondent when you have losing trades, and you have to accept there will be times where you get losing days, losing weeks, possibly losing months. And you have to look at this and go, well, did I stick to my plan? Did I stick to my strategy? And if you did, then fine, carry on. Don’t get too emotional with winning trades either. Likewise, the other side of the spectrum is you can’t get too stupidly carried away when you have profitable trades or lots of profitable trades. Yes, it’s really good. Yes, that’s why we’re doing it. Yes, we’re looking at...]]>464false1fullhttps://www.spreaker.com/episode/639-the-easiest-trading-edge-nobody-talks-about--72739729Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #639: The Easiest Trading Edge Nobody Talks About In this video:
00:23 – Round numbers will help your trading results.
00:50 – Traders ignore the most important part of the chart.
01:43 – What is a Round Number?
02:28 – Support and Resistance levels.
02:58 – How to use Round Numbers in your trading.
05:30 – Check out my new Masterclass.
05:59 – Blueberry Markets as a Forex Broker.
06:35 – How to contact me for trading help. Round numbers. What are they? How can you use them and why are they so important? Let’s talk about that and more right now. Hi there, Traders! Andrew Mitchem here at The Forex Trading Coach with this week’s video and podcast number 639. Round numbers will help your trading results. So I want to talk to you about round numbers because it’s something that I find most people don’t use and don’t understand. And you don’t see the importance of it, probably because they don’t look at the price axis. You see, most people, when they get into trading, they’re worried about this line moving over that line and a moving average crossing over or MACD changing from overbought to oversold. And they get very caught up in indicators. Traders ignore the most important part of the chart. And the issue becomes that most people ignore what is probably the most important part of the chart. It’s the right-hand side axis. It’s the price axis. You wouldn’t go out there in normal life buying something without considering the price. So why is it that when you suddenly want to become a trader, you take this crossover of a moving average, but you never look at the price? Why is that? Well, it’s because most people get so fixated with all these lovely squiggly lines and things, or they hear news events and they suddenly want to become fundamental traders, that they fail to look at the actual price. Go and look at the price on your charts and you’ll see that price changes over and bounces at those levels so many times. So most people ignore round numbers. What is a Round Number? What is a round number? So I classify a round number as a price level that ends in a 00 or a 50. The 00s are more important and have more weight in my opinion, but 50s are also important. So think of, let’s say, $100 or $100.50 or 101, 101.50, 102, that type of thing. So think of those types of 50s and zeros. Anything ending in a 50 or 0, they are the most important round numbers. And so those levels are important to us as traders because those levels act as natural areas of support and resistance. Support and Resistance levels. So think of support and resistance as floors and ceilings. When the price comes up to a resistance level, it hits that ceiling and it will likely bounce and fall away. Now how do you know that that’s a resistance level? Well, you can look at your charts and see a previous bounce at that level, but you can also look at the other side of your chart and go, “Oh, that’s bounced at a round number.” And so those levels suddenly become really important for you. There are so many ways you can use them. I’ll give you some examples. How to use Round Numbers in your trading. Let’s say you are buying at the close of a candle, but that candle had already gone up and hit a round number and then rejected that level. I personally would not be taking a buy trade at that point because the price has already proven to have hit that level, rejected it, and fallen away. So that’s one way of using a round number. It helps protect a trade that might end up being a losing trade. Secondly, if the price has come down and bounced at a round number and the candle low is at a round number and then turned around, that could be a good reason for that level to be a support level. It could be why the price is turning around because it’s bounced at that round number. Another way you can use round numbers is to help protect your stop loss. Let’s again say that we’re buying a currency, and we have the ability to put our stop loss below a round number. It means that the price might move up, it may come back, it may test that round number. Your stop loss, by the way, is below the round number on a buy trade. The price may come and test that round number and then head back up again. So your stop loss below a round number on a buy trade will help protect the trade. The other way of looking at a round number to your advantage is, again, if we’re saying that we’re buying a currency pair, it’s moving up and it’s moving up nicely. Make sure if there’s a round number at or near your profit target that you need for your strategy, you just bring your profit target down to below that round number. Again, the price may go up and let’s say your profit target, if you don’t understand round numbers, just happens to be above that round number. The price may come up to test that round number and then drop away and you think, “Oh, it’s just a few pips from hitting profit and the market’s changed. Why does it always do that?” Whereas I would look at that and go, “Okay, I’m accepting that I’m just reducing my reward-to-risk slightly. I’m bringing my profit target down to below that round number, but I’m giving myself a higher probability chance of that trade hitting my profit target.” And where it goes afterwards, I don’t care. It could burst through the round number, but more likely it’s going to hit that level and bounce back down again. But I don’t care because I’m out of the trade for profit. So round numbers. Use them. Please look at the right-hand side of your charts. After you finish listening to this video and podcast, go and look at your charts and see where the price changes around. So many times it happens at round numbers. Lastly, 2 things. Check out my new Masterclass. 1. Have a look at my new masterclass. It’s on demand. It’s only around 15 minutes. It’s just been uploaded last week. Great content, really valuable information to help you as a trader, to explain how we trade and how we can help you to trade. If you’re interested in some quality coaching that’s been around for over 17 years with clients in 111 countries, there is probably nothing else more proven out there than the strategy. Blueberry Markets as a Forex Broker. 2. If you are out there looking for a high-quality forex broker, I can highly recommend Blueberry Markets. I’m actually in discussion right now, today, with Blueberry Markets. They are looking at a promotion between themselves and myself to give you the option to join us at The Forex Trading Coach for a discounted rate. They’re going to foot the bill for the difference, and you can open an account with Blueberry Markets and trade with us. More details will be announced in early July. So once again, this is Andrew Mitchem here at The Forex Trading Coach. Look at round numbers, please. It will massively help you. How to contact me for trading help. If you need any more help, leave a comment below or ask me a question. You can email me directly at Andrew@TheForexTradingCoach.com and I’ll get back to you personally. I hope it helps. Bye for now. Episode Title: #639: The Easiest Trading Edge Nobody Talks About Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=24303Sun, 28 Jun 2026 20:55:27 +0000Andrew MitchemThe Easiest Trading Edge Nobody Talks About  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #639: The Easiest Trading Edge Nobody Talks About In this video:
00:23 – Round numbers will help your trading results.
00:50 – Traders ignore the most important part of the chart.
01:43 – What is a Round Number?
02:28 – Support and Resistance levels.
02:58 – How to use Round Numbers in your trading.
05:30 – Check out my new Masterclass.
05:59 – Blueberry Markets as a Forex Broker.
06:35 – How to contact me for trading help. Round numbers. What are they? How can you use them and why are they so important? Let’s talk about that and more right now. Hi there, Traders! Andrew Mitchem here at The Forex Trading Coach with this week’s video and podcast number 639. Round numbers will help your trading results. So I want to talk to you about round numbers because it’s something that I find most people don’t use and don’t understand. And you don’t see the importance of it, probably because they don’t look at the price axis. You see, most people, when they get into trading, they’re worried about this line moving over that line and a moving average crossing over or MACD changing from overbought to oversold. And they get very caught up in indicators. Traders ignore the most important part of the chart. And the issue becomes that most people ignore what is probably the most important part of the chart. It’s the right-hand side axis. It’s the price axis. You wouldn’t go out there in normal life buying something without considering the price. So why is it that when you suddenly want to become a trader, you take this crossover of a moving average, but you never look at the price? Why is that? Well, it’s because most people get so fixated with all these lovely squiggly lines and things, or they hear news events and they suddenly want to become fundamental traders, that they fail to look at the actual price. Go and look at the price on your charts and you’ll see that price changes over and bounces at those levels so many times. So most people ignore round numbers. What is a Round Number? What is a round number? So I classify a round number as a price level that ends in a 00 or a 50. The 00s are more important and have more weight in my opinion, but 50s are also important. So think of, let’s say, $100 or $100.50 or 101, 101.50, 102, that type of thing. So think of those types of 50s and zeros. Anything ending in a 50 or 0, they are the most important round numbers. And so those levels are important to us as traders because those levels act as natural areas of support and resistance. Support and Resistance levels. So think of support and resistance as floors and ceilings. When the price comes up to a resistance level, it hits that ceiling and it will likely bounce and fall away. Now how do you know that that’s a resistance level? Well, you can look at your charts and see a previous bounce at that level, but you can also look at the other side of your chart and go, “Oh, that’s bounced at a round number.” And so those levels suddenly become really important for you. There are so many ways you can use them. I’ll give you some examples. How to use Round Numbers in your trading. Let’s say you are buying at the close of a candle, but that candle had already gone up and hit a round number and...]]>410false1fullhttps://www.spreaker.com/episode/638-your-breakout-strategy-is-failing-do-this-instead--72739728Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #638: Your Breakout Strategy Is Failing (Do This Instead) In this video:
00:28 – Trader has a failed breakout strategy.
01:33 – False breakouts and low reward:risk trades.
02:23 – I use limit orders and not stop orders.
04:07 – View our new 15 minute Masterclass.
04:25 – Blueberry Markets as a Forex Broker.
05:40 – Real people, community and communication. So your breakout strategy keeps failing. What can you do to overcome that? If you trade breakouts or you’ve considered trading breakouts, this video is exactly what you need to hear. Let’s get into it. Traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 638. Trader has a failed breakout strategy. Just this week I’ve received an email from a trader who said, “Andrew, I need some help with breakouts. My breakout strategy is not working. It keeps failing. I keep losing money. What can you suggest?” Well, first of all, let’s understand what a breakout strategy is. For most people, it means that you’re buying at the high of a candle or a range, and you’re selling at the low of a candle or range. So that could mean you look at every 4 hours and you take a buy stop, let’s say, to buy above the high of that 4-hour range. Or you may be taking like the first 10 hours of the day or taking the European session and trading a breakout of that, whatever it is you do. There are all sorts of styles of breakout, but effectively it means you’re buying high and you’re selling low. So you’re either sitting there waiting for that price to break out of that range and you’re taking a market order, or probably the more sensible way of doing it is to put a buy stop and sell stop in, which means that when the price breaks high or low, the market automatically gets you filled into the market. False breakouts and low reward:risk trades. But the trouble is, it doesn’t generally give you a particularly good reward-to-risk. And you’ll find so many times you’ll get false breakouts. The market will move up, get your buy stop in and move up a bit, and then fall back down again. You get stopped out and it just keeps happening. So for me, I don’t actually like breakout strategies. I don’t think they are a particularly good way of trading. It’s just basically here’s a range and if it goes higher than that, we’re taking buys. If it goes lower, we’re taking sells. It doesn’t have a huge amount of other technical qualities about it. And as I mentioned, it certainly doesn’t, in most cases, give you a particularly good reward-to-risk. So therefore, for me, it’s not something I really am interested in doing. So a better way of answering the question might be to say what else can you do instead? I use limit orders and not stop orders. Now, for the last 20-plus years, I have used limit orders and it’s something that if you don’t use them, I suggest you go and have a look and consider using them. So a limit order, a buy limit or a sell limit, means to buy below the current price, and a sell limit is to sell above the current price. And already, if you think about it, to buy below the current price means that if the market should pull back down, get me filled, and then move up in my direction, I’m already massively in reward-to-risk favor. And if you imagine you’ve got a buy stop and I’ve got a buy limit in, the market moves down, gets me filled, by the time it then turns around and goes back up to your buy stop area, I’m probably already with my strategy in at least a 1-to-1 reward-to-risk trade, if not more, and you’re just getting filled on the trade. And so the likelihood of me making profit on a buy limit order is so much more than you taking profit, and good profit and good reward-to-risk, with your buy stop order. So I would consider limit orders. The markets always move up and down and retrace. So in most cases buy limit orders get filled very often and you just find that they work beautifully once you know what you’re doing. Now let’s say that the market does not pull back and you do not get filled on your buy limit order. Well, that doesn’t really matter, because all it means is that you miss out on the trade. That’s absolutely fine. You know, that happens from time to time. So have a look for buy limit orders and sell limit orders. Your reward-to-risk will improve massively. View our new 15 minute Masterclass. In other news, I have made a new short 15-minute-long masterclass this week. It’s now available on our website. It’s on demand so you can go and watch it whenever you like. I’ll put a link to that. I highly recommend you spend 15 minutes, go and watch that and you’ll learn so much about trading on that session. Blueberry Markets as a Forex Broker. And if you’re out there looking for a very high-quality forex broker, one I’ve personally used for many years, it’s Blueberry Markets. I find them just really good to deal with, very responsive and if you need help with anything, very quick to withdraw funds and a huge array of markets that you can trade through them, both forex and non-forex, especially on their MT5 platform. If you’re out there looking for a good broker, just consider Blueberry Markets. I don’t think you’ll be disappointed. And yeah, I’ll put a link to them as mentioned. Real people, community and communication. So if you have any trading topics or questions, just like this email that came in about the breakouts, let me know and I can answer them for you on future videos and podcasts just like this one. So once again, this is Andrew Mitchem here. Enjoy your trading. Potentially use your limit orders. I think you’ll find them a lot more beneficial than your stop orders. Bye for now. Episode Title: #638: Your Breakout Strategy Is Failing (Do This Instead)
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=24224Sun, 21 Jun 2026 13:00:55 +0000Andrew MitchemYour Breakout Strategy Is Failing (Do This Instead)  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #638: Your Breakout Strategy Is Failing (Do This Instead) In this video:
00:28 – Trader has a failed breakout strategy.
01:33 – False breakouts and low reward:risk trades.
02:23 – I use limit orders and not stop orders.
04:07 – View our new 15 minute Masterclass.
04:25 – Blueberry Markets as a Forex Broker.
05:40 – Real people, community and communication. So your breakout strategy keeps failing. What can you do to overcome that? If you trade breakouts or you’ve considered trading breakouts, this video is exactly what you need to hear. Let’s get into it. Traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 638. Trader has a failed breakout strategy. Just this week I’ve received an email from a trader who said, “Andrew, I need some help with breakouts. My breakout strategy is not working. It keeps failing. I keep losing money. What can you suggest?” Well, first of all, let’s understand what a breakout strategy is. For most people, it means that you’re buying at the high of a candle or a range, and you’re selling at the low of a candle or range. So that could mean you look at every 4 hours and you take a buy stop, let’s say, to buy above the high of that 4-hour range. Or you may be taking like the first 10 hours of the day or taking the European session and trading a breakout of that, whatever it is you do. There are all sorts of styles of breakout, but effectively it means you’re buying high and you’re selling low. So you’re either sitting there waiting for that price to break out of that range and you’re taking a market order, or probably the more sensible way of doing it is to put a buy stop and sell stop in, which means that when the price breaks high or low, the market automatically gets you filled into the market. False breakouts and low reward:risk trades. But the trouble is, it doesn’t generally give you a particularly good reward-to-risk. And you’ll find so many times you’ll get false breakouts. The market will move up, get your buy stop in and move up a bit, and then fall back down again. You get stopped out and it just keeps happening. So for me, I don’t actually like breakout strategies. I don’t think they are a particularly good way of trading. It’s just basically here’s a range and if it goes higher than that, we’re taking buys. If it goes lower, we’re taking sells. It doesn’t have a huge amount of other technical qualities about it. And as I mentioned, it certainly doesn’t, in most cases, give you a particularly good reward-to-risk. So therefore, for me, it’s not something I really am interested in doing. So a better way of answering the question might be to say what else can you do instead? I use limit orders and not stop orders. Now, for the last 20-plus years, I have used limit orders and it’s something that if you don’t use them, I suggest you go and have a look and consider using them. So a limit order, a buy limit or a sell limit, means to buy below the current price, and a sell limit is to sell above the current price. And already, if you think about it, to buy below the current price means that if the market should pull back down, get me filled, and then move up in my direction, I’m already massively in...]]>321false1fullhttps://www.spreaker.com/episode/637-why-trading-only-eur-usd-is-holding-you-back--72739733Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #637: Why Trading Only EUR/USD Is Holding You Back In this video:
00:25 – How many pairs do you trade?
01:00 – Don’t focus on just 1 pair.
01:25 – I look at multiple pairs to trade every day.
01:57 – A trade example.
02:42 – A strategy needs to work on all pairs, all markets and all time frames.
03:14 – Trades from this week that I’ve taken.
04:15 – Don’t take “B” grade setups.
04:52 – View our new look website and Masterclass.
05:03 – Client review testimonial videos.
06:35 – Trade and enjoy life. How many currency pairs should you look at as a trader? Should you just focus on 1 or 2 pairs, or should you look at multiple? Let's talk about that and more right now. This is Andrew Mitchem here at The Forex Trading Coach with video and podcast number 637. How many pairs do you trade? So today I want to talk about currency pairs. And should you just focus on 1 or 2 pairs? And the reason I want to talk about that is I often hear about people that say, look, I just look at the EUR/USD. And that's all I look at, and it's all I want to focus on. And I hear other people that say to me, look, this strategy that I've got here, it only works on the USD/JPY on a 1-hour chart, for example. And I don't understand why people do either of those. Don’t focus on just 1 pair. To me, it doesn't make any logical sense, because if you're focusing on just 1 or 2 pairs, then what happens if those pairs are not moving particularly well at the time, or they're not giving good setups? And the reason why a strategy should only work on 1 pair or 1 time frame again, doesn't make any logical sense if you have a good sound technical strategy. I look at multiple pairs to trade every day. So for me, I've for many years now, over 20 years, constantly looked at multiple forex pairs on a daily basis. And the reason I do that is I'm scanning through the charts really quickly and then say 10 minutes, 15 minutes, I then scan through all the currency pairs and other non-forex markets on multiple time frame charts once a day. Or if I want to look twice a day, I can do exactly the same. So it might take a total of 30 minutes a day. And it gives me so many more high-quality setups. So as an example, let's go back to the EUR/USD. A trade example. If you're trading that and there's nothing really showing on there, then maybe you should look at the EUR/CHF, EUR/GBP, EUR/NZD, EUR/AUD, EUR/CAD, EUR/JPY. Why would you focus on just the EUR/USD? And if you are out there looking for currency strength and weakness, you can't tell if you're looking at just the EUR/USD. Is the euro strong? Is the euro weak? Is the US strong? Is the US weak? Are they both strong? Are they both weak? And so you're not giving yourselves a lot of chance of having a successful strategy long term if that becomes your limitation. A strategy needs to work on all pairs, all markets and all time frames. So for me as a technical trader, a strategy should work across all currency pairs, in fact all markets and all time frame charts as well. So whether you're looking at, say, a daily chart or a weekly chart or a 4-hour chart or a 1-hour chart, the strategy, if you have a good sound strategy, should work across all those different time frame charts as well. And again, that opens up the possibility of more quality setups. Trades from this week that I’ve taken. Now, to give you a great example, over the last week or so, some of the forex pairs have been quite dreadful to trade. There's not been a lot of price action. There's been a lot of sideways movement, some indecision, and sometimes at the beginning of the weeks we're now seeing some big gaps. And, you know, therefore, by having the ability to look at shorter time frame charts, we're seeing a lot of good shorter time frame charts. My clients have been posting a lot of 2-hour charts and 30-minute charts recently that have been really good, but also go to the other extreme on the weekly charts. I've got 2 trades open on the S&P 500 and the Nasdaq 100 taken off the weekly charts at the beginning of this week. They are both in excellent, excellent profit, selling both of them and based on the weekly charts, I have that longer-term bias on those 2 pairs right now that they're dropping, which they're currently doing. And as I'm recording this video, both of them are in very good profit. Don’t take “B” grade setups. So again, it comes back to not limiting yourself. Don't be restrictive. Look at multiple pairs, multiple markets, multiple time frame charts. And if your strategy is good and sound and quality, then these setups will appear. And what that also does is it stops me taking what I call B-grade setups. If I see something that's just not there, I don't trade, but by having the ability to scan through those multiple markets and multiple time frame charts, I'm giving myself a higher probability chance of getting what I call an A-trade setup. It has all the things that I'm looking for in my favor. View our new look website and Masterclass. If you'd like to find out more, there's a couple of things you can do. You can jump onto my masterclass. If you've not already been on that, have a look at the masterclass. I'll put a link to that here as well. Client review testimonial videos. And over the last few weeks, we've had a lot of our more experienced traders from right around the world, experienced clients, jump on and have given some really nice review testimonial videos, which I'm starting to add to the website. Have a look at those. You know, people that have been with us for years that are doing really well from their trading, and people just like you who may have been a little bit confused or a bit lost when they first joined us, but now they have a community around them. They have a proven quality strategy with low risk, low drawdown and more importantly than anything, they now know as traders what to do by themselves. They know what charts to look at, when to look at them, and they know exactly how to enter and exit the market to give themselves a very low drawdown per trade and equal risk per trade, but also high reward-to-risk outcomes. So that to me is another important part of our success. The different markets, the different time frame charts, the 1 strategy and the community, the low drawdowns, high reward-to-risk. Put all that together, you've got yourself a winning strategy and a winning formula. So have a look at those videos. Have a look at the masterclass if you would like to find out more about how we do this, and if you'd like to come on board and join us here at The Forex Trading Coach, I'll see you this time next week. This is Andrew Mitchem at The Forex Trading Coach. Enjoy trading again. Like I say each week now, get outside, enjoy the outdoors. That's why I'm not doing these videos in front of the screen. Trade and enjoy life. You know, very often trade for 10-15 minutes a day. Get outside, work, family, music, sport, hobbies, whatever it is that you like doing, do that and your trading will take care of itself. Bye for now. Episode Title: #637: Why Trading Only EUR/USD Is Holding You Back
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=24171Sun, 14 Jun 2026 13:00:32 +0000Andrew MitchemWhy Trading Only EUR/USD Is Holding You Back  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #637: Why Trading Only EUR/USD Is Holding You Back In this video:
00:25 – How many pairs do you trade?
01:00 – Don’t focus on just 1 pair.
01:25 – I look at multiple pairs to trade every day.
01:57 – A trade example.
02:42 – A strategy needs to work on all pairs, all markets and all time frames.
03:14 – Trades from this week that I’ve taken.
04:15 – Don’t take “B” grade setups.
04:52 – View our new look website and Masterclass.
05:03 – Client review testimonial videos.
06:35 – Trade and enjoy life. How many currency pairs should you look at as a trader? Should you just focus on 1 or 2 pairs, or should you look at multiple? Let's talk about that and more right now. This is Andrew Mitchem here at The Forex Trading Coach with video and podcast number 637. How many pairs do you trade? So today I want to talk about currency pairs. And should you just focus on 1 or 2 pairs? And the reason I want to talk about that is I often hear about people that say, look, I just look at the EUR/USD. And that's all I look at, and it's all I want to focus on. And I hear other people that say to me, look, this strategy that I've got here, it only works on the USD/JPY on a 1-hour chart, for example. And I don't understand why people do either of those. Don’t focus on just 1 pair. To me, it doesn't make any logical sense, because if you're focusing on just 1 or 2 pairs, then what happens if those pairs are not moving particularly well at the time, or they're not giving good setups? And the reason why a strategy should only work on 1 pair or 1 time frame again, doesn't make any logical sense if you have a good sound technical strategy. I look at multiple pairs to trade every day. So for me, I've for many years now, over 20 years, constantly looked at multiple forex pairs on a daily basis. And the reason I do that is I'm scanning through the charts really quickly and then say 10 minutes, 15 minutes, I then scan through all the currency pairs and other non-forex markets on multiple time frame charts once a day. Or if I want to look twice a day, I can do exactly the same. So it might take a total of 30 minutes a day. And it gives me so many more high-quality setups. So as an example, let's go back to the EUR/USD. A trade example. If you're trading that and there's nothing really showing on there, then maybe you should look at the EUR/CHF, EUR/GBP, EUR/NZD, EUR/AUD, EUR/CAD, EUR/JPY. Why would you focus on just the EUR/USD? And if you are out there looking for currency strength and weakness, you can't tell if you're looking at just the EUR/USD. Is the euro strong? Is the euro weak? Is the US strong? Is the US weak? Are they both strong? Are they both weak? And so you're not giving yourselves a lot of chance of having a successful strategy long term if that becomes your limitation. A strategy needs to work on all pairs, all markets and all time frames. So for me as a technical trader, a strategy should work across all currency pairs, in fact all markets and all time frame charts as well. So whether you're looking at, say, a daily chart or a weekly chart or a 4-hour chart or a 1-hour chart, the strategy, if you have a good sound strategy, should work across all those different time frame...]]>411false1fullhttps://www.spreaker.com/episode/636-the-trading-mistake-that-s-costing-beginners-years-of-progress--72739731https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ #636: The Trading Mistake That’s Costing Beginners Years of Progress In this video:
00:29 – We don’t spend all day looking at charts.
00:40 – Learning how to trade properly.
01:22 – The elephant is too big to eat at once.
02:30 – Little and often is the fastest way to learn.
03:24 – Don’t compare yourself with an experienced trader.
04:17 – You won’t become a full-time trader by next week.
05:22 – Bradley’s video testimonial.
06:12 – Blueberry Markets as a Forex Broker.
07:00 – Find someone to follow. How do you eat an elephant? Well, you eat it in the same way as you learn to trade the forex market. I’m going to share details about how you can eat the elephant and learn to trade properly in this week’s video and podcast. Let’s get into it right now. Andrew Mitchem here, The Forex Trading Coach with video and podcast number 636. We don’t spend all day looking at charts. Outside on another beautiful winter’s day here in Nelson in New Zealand. The beauty of trading, of course, is that you are not sitting looking at your charts all day. Learning how to trade properly. But the issue that people have is that they don’t know how to start. And so I liken learning to trade as the same as the phrase that you may have heard, and that is how do you eat an elephant? You see, the way that you eat an elephant, not that you’re going to, is 1 bite at a time. And learning to trade forex is exactly the same. You know, many people look at trading and they get overwhelmed with the information out there, you know, charts and indicators and news and not understanding risk management, psychology behind trading, all these things. And the mistake that I see so many people out there doing is they try to learn it all at once. The elephant is too big to eat at once. So the issue that you have to come back to when you’re thinking of the elephant is the elephant’s too big. So you can’t do this all in 1 go. You have to understand what it is that you need to do in order to tackle that elephant, or in this case, the forex market. And you see what people end up doing is they jump from 1 strategy to another. They try to master everything straight away and they get information overload. They become frustrated and it just doesn’t work. So going back to the 1 bite at a time, learn things piece by piece. Learn how the market moves. Break things down. Look at the price. You know how many people, how many of you out there watching or listening to this don’t actually look at the price? I bet there’s a lot of you. Understand risk management. Understand what things like support and resistance are. Understand the movement of different times of the day or the different currency pairs, how they react. Do they react to news announcements or not, or how do they correlate between each other? All these type of things break it down to eating or in this case, learning 1 thing at a time. Little and often is the fastest way to learn. Now consistency beats intensity, and what I mean by that is by doing little bits often, you will soon be amazed how you will soon pick up things. You know you can’t go there eating this elephant in just 1 meal. You’re not going to just keep taking 1 mouthful at a time and expect to eat the elephant. Likewise, you can’t just sit there and cram all this information in like just in a few days and expect to become as good as someone that’s been doing this for a long time. And right now, as an example, I’m, you know, trying to get better at singing, trying to get better at learning to play the guitar. So I’m doing regular lessons online, and I’m learning and doing little bits at a time, learning bar chords. So if you’ve ever played a guitar, you know how difficult bar chords are and what they mean on the fretboard. This is exactly the same. Learn a little bit, say 30 minutes a day when you can to learn these parts and things will soon start to come together. Don’t compare yourself with an experienced trader. The other important thing is not to compare what you are doing and what you’re learning with someone that’s been doing this for a long time. You can’t, for example, look at my trading knowledge and experience and expect to be at that level straight away because I’ve been doing this for like 21-plus years every day. And, you know, but when I started, you know, it was all new. When I started, there was nowhere near the help that there is today. So don’t go out there comparing yourself with real traders or what you perceive online with the TikTokers and, you know, the barely-out-of-school type of people that have traded for a week and tell you how good they are. Whichever ones you’re following, whether it’s a real trader or, you know, getting conned into listening to those guys, you cannot compare yourself with someone that really knows what they’re doing at the beginning. So put the time and the effort and consistency into that. You won’t become a full-time trader by next week. And the other thing I’d say is don’t worry about becoming a full-time trader tomorrow. It’s not going to happen. Don’t go giving up your job tomorrow. Don’t expect to become a multi-millionaire tomorrow out of this, or even next week or even next year. You know, give yourself time to do this. It is not a race. If it’s a race for you, you shouldn’t be doing it. And if it’s a race for you because you think it’s going to solve all your life’s financial problems, you probably shouldn’t be doing it either. What you should do is treat this realistically, small bits at a time, learn the skill, master the skill, and over time look honestly, it is the best thing there is. But it takes time. It’s like all these things I’ve mentioned to you many times I’ve done in my life. Flying a helicopter has probably been the best example. It is 1 of the best things I have ever done, but it takes time to get there. Otherwise it’s going to go wrong. So take your time. Do this thing properly. It’s a journey. It’s not a race out there. The market is not going anywhere. Trading is not going anywhere. You have time to do this. You have time to put in to learn how to do this properly. Bradley’s video testimonial. And I’ve just released a few new testimonials from clients, and 1 of them is from Bradley, who lives across in Perth in Western Australia, and he’d been trading for 8 years before he found us. And now, a year later, after he’s joined us, he’s doing so well. But have a look at videos like that and learn from people who are out there that have spent time doing the groundwork, doing the homework. And it works. So coming back to the elephant, can you eat the elephant? Yes. Can you tackle, as in like, you know, not literally, but, you know, can you learn to trade the forex market? Yes. Take it 1 bite-size piece at a time. Take it slowly. Be consistent, be realistic, and don’t gorge yourself on information as in, don’t try to learn everything like in a weekend and take your time. Ask questions. Seek help. It will work. Blueberry Markets as a Forex Broker. If you’re out there looking for a really good forex broker, I can highly recommend Blueberry Markets over in Australia. But, you know, it doesn’t matter where you live in the world. Most people who are trading forex, with the exception of a few countries like the US, etc., but pretty much everybody else can trade through Blueberry Markets. There’s lots of brokers out there. I personally use other brokers as well as Blueberry Markets, but they are my preferred broker and it’s where I have my main trading accounts. I think they’re really good. They offer the MT4 and especially the MT5 platform. But 1 thing that stands them apart is not only their spreads and execution and withdrawal speed, it’s the quality of their customer service. Outstanding people. Have a look at them if you’re out there looking for a good broker. So once again, take your time. If you’re out there learning to trade, don’t jump onto every forum.
Find someone to follow. Don’t clutter your charts with millions of indicators and don’t chop and change systems. Find someone out there that’s got a proven system that’s been around for years, that works across all markets, all time frame charts, and doesn’t require you to sit in front of the charts all day long. Now, yes, when you’re starting, put some time and effort into learning. But once you’re doing it, get outside and enjoy the beautiful place that we live in. And, you know, trading takes care of itself. So hope it helps. This is Andrew here at The Forex Trading Coach. I’ll see you this time next week. Bye for now. Episode Title: #636: The Trading Mistake That’s Costing Beginners Years of Progress
https://www.blueberrymarkets.net/lp/tftc-forex-brokerhttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-application]]>https://theforextradingcoach.com/?p=24132Sun, 07 Jun 2026 13:00:09 +0000Andrew MitchemThe Trading Mistake That’s Costing Beginners Years of Progress  Podcast:...https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ #636: The Trading Mistake That’s Costing Beginners Years of Progress In this video:
00:29 – We don’t spend all day looking at charts.
00:40 – Learning how to trade properly.
01:22 – The elephant is too big to eat at once.
02:30 – Little and often is the fastest way to learn.
03:24 – Don’t compare yourself with an experienced trader.
04:17 – You won’t become a full-time trader by next week.
05:22 – Bradley’s video testimonial.
06:12 – Blueberry Markets as a Forex Broker.
07:00 – Find someone to follow. How do you eat an elephant? Well, you eat it in the same way as you learn to trade the forex market. I’m going to share details about how you can eat the elephant and learn to trade properly in this week’s video and podcast. Let’s get into it right now. Andrew Mitchem here, The Forex Trading Coach with video and podcast number 636. We don’t spend all day looking at charts. Outside on another beautiful winter’s day here in Nelson in New Zealand. The beauty of trading, of course, is that you are not sitting looking at your charts all day. Learning how to trade properly. But the issue that people have is that they don’t know how to start. And so I liken learning to trade as the same as the phrase that you may have heard, and that is how do you eat an elephant? You see, the way that you eat an elephant, not that you’re going to, is 1 bite at a time. And learning to trade forex is exactly the same. You know, many people look at trading and they get overwhelmed with the information out there, you know, charts and indicators and news and not understanding risk management, psychology behind trading, all these things. And the mistake that I see so many people out there doing is they try to learn it all at once. The elephant is too big to eat at once. So the issue that you have to come back to when you’re thinking of the elephant is the elephant’s too big. So you can’t do this all in 1 go. You have to understand what it is that you need to do in order to tackle that elephant, or in this case, the forex market. And you see what people end up doing is they jump from 1 strategy to another. They try to master everything straight away and they get information overload. They become frustrated and it just doesn’t work. So going back to the 1 bite at a time, learn things piece by piece. Learn how the market moves. Break things down. Look at the price. You know how many people, how many of you out there watching or listening to this don’t actually look at the price? I bet there’s a lot of you. Understand risk management. Understand what things like support and resistance are. Understand the movement of different times of the day or the different currency pairs, how they react. Do they react to news announcements or not, or how do they correlate between each other? All these type of things break it down to eating or in this case, learning 1 thing at a time. Little and often is the fastest way to learn. Now consistency beats intensity, and what I mean by that is by doing little bits often, you will soon be amazed how you will soon pick up things. You know you can’t go there eating this elephant in just 1 meal. You’re not going to just keep taking 1 mouthful at a time and expect to eat the elephant. Likewise, you can’t just sit there and cram all this information in like just in a few days and expect to become as good as someone...]]>456false1fullhttps://www.spreaker.com/episode/635-these-2000-year-old-lessons-will-improve-your-trading--72739736Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #635: These 2000-Year-Old Lessons Will Improve Your Trading In this video:
00:28 – Greek Mythology and your trading success.
00:51 – Too much confidence can blow an account.
01:57 – Obsession with money.
02:43 – You don’t need a degree to become a good trader.
03:12 – 2 new testimonial videos from our clients.
04:12 – My farming background has helped me to become a good trader
04:41 – Blueberry Markets as a Forex Broker.
05:30 – Give me your feedback and request for trading topics. Do you realize that trading and Greek mythology are so highly correlated? I want to talk about that and give you some quotes and see how they relate to trading and your success in this video and podcast. Let’s get into it right now. Hey there, Traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 635. Greek Mythology and your trading success. So today something different because I want to talk about Greek mythology and how it relates to your trading success and how you approach the markets. You see people control the markets, emotions control the markets. And those same traits can be seen in Greek mythology, you know, from thousands of years ago. Too much confidence can blow an account. Give you an example. If you look at Icarus flying too close to the sun, that can be related to, say, like traders who are over trading, over leveraging, you know, their confidence becomes too much and they then blow their account because of doing silly things. You know, they’re ignoring risk management rules and you get disaster. Exactly like Icarus flying too close to the sun with confidence. You can look at Odysseus and, you know, the principles of trading with discipline. You know, look at your trading as a long journey and how to gain patience when under pressure. Sticking to your trading plan despite distractions that you may have. You’ve got the example of sirens and market noise, and you know you’ve got social media tips out there telling you what to do. You get people saying, this is a guaranteed trade set up. You get, you know, emotional temptations pulling you away from your strategy because you’re out there on forum sites looking at other things. So you’ve got all those kind of issues going on there. Obsession with money. You’ve got King Midas obsession with profits, you know, just looking at money, money, money. Whenever people do backtesting, they always pick the 1 with the, you know, the most money and you then get away from, you know, what you really need as a trader, which is consistency as well so people forget that. Achilles, so the Achilles heel your trading psychology becomes your weakness. You know, revenge trading, fear of missing out potentially like refusing to accept losses. All those type of things. So really important that you think about these, you know, principles that have been around for thousands and thousands of years and how they can help you with your trading. Markets, you know, are new, but emotions are not. Emotions have been there forever. You don’t need a degree to become a good trader. So the best traders out there, they’re not necessarily the smartest ones. And I find this with my, you know, with my students. And when I say smart, they don’t have to have all the bits of paper and been to the best universities and all that type of thing, that does not make the best traders. The best traders are the ones that can master themselves, control their emotions, stick to plans, be disciplined, show up, turn up and you’ll find that they become the best traders. 2 new testimonial videos from our clients. Some great examples of that on my website. Just in the last week, we’ve added 2 new reviews and testimonials from clients and the guy. Pete’s been with me for 10 years. I met Pete in person a few weeks ago when I was over in Bali. And, you know, have a listen to that review. There’s Ryan, who’s a real estate agent here in New Zealand. Have a listen to his review. Just a family guy with 2 young kids doing really well through his trading by turning up, showing up, sticking to the discipline and rules and, you know, being a self-employed person, like, you know, like a commission agent, like a real estate agent is, you know, he understands that not every trade will be perfect. He understands that you can put lots of time into trading for maybe like a day or a week or, you know, and the results aren’t always going to be perfect. So I think it takes a special kind of person like that to really trade well. My farming background has helped me to become a good trader I come from originally a farming background, you know, I understand that, that things are tough. You’re, you know, you put the effort in, you plan, you discipline, you know, and you show up. And that’s what trading is all about. You don’t have to have, like I said, you know, the most qualifications. You don’t need to be super, super smart to do this. You just need to control your emotions and understand what’s needed and required. So I hope that helps. Blueberry Markets as a Forex Broker If you are there looking for a very good forex broker, I can highly recommend Blueberry Markets. I’ll put a link to them there based across in Australia, but traders from right around the world can open an account with Blueberry Markets. I’ve been with them since they started and I know some of their team from prior to when Blueberry was created. And you won’t find better customer service in terms of speed and efficiency, etc. I find them really good, and I think it’s 1 broker that you should consider having a look at if you’re out there looking for a good forex broker. But of course now with MT5 you can trade other markets like the metals, cryptos, commodities, indices, which we do as well. So have a look at Blueberry Markets. Have a look at those 2 reviews on my website as well. Give me your feedback and request for trading topics And any topics you’d like me to discuss on future videos and podcasts. Just like this 1. I’m here to help. Here to listen to what you want and to help you with your trading. After all, we’ve been doing this for 17 years at The Forex Trading Coach. We have successful clients in 111 countries around the world. If you’d like to come on board and join us in our community, you know where to find us at TheForexTradingCoach.com and I see you this time next week. Bye for now. Episode Title: #635: These 2000-Year-Old Lessons Will Improve Your Trading
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=24032Sun, 31 May 2026 13:00:09 +0000Andrew MitchemThese 2000-Year-Old Lessons Will Improve Your Trading  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #635: These 2000-Year-Old Lessons Will Improve Your Trading In this video:
00:28 – Greek Mythology and your trading success.
00:51 – Too much confidence can blow an account.
01:57 – Obsession with money.
02:43 – You don’t need a degree to become a good trader.
03:12 – 2 new testimonial videos from our clients.
04:12 – My farming background has helped me to become a good trader
04:41 – Blueberry Markets as a Forex Broker.
05:30 – Give me your feedback and request for trading topics. Do you realize that trading and Greek mythology are so highly correlated? I want to talk about that and give you some quotes and see how they relate to trading and your success in this video and podcast. Let’s get into it right now. Hey there, Traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 635. Greek Mythology and your trading success. So today something different because I want to talk about Greek mythology and how it relates to your trading success and how you approach the markets. You see people control the markets, emotions control the markets. And those same traits can be seen in Greek mythology, you know, from thousands of years ago. Too much confidence can blow an account. Give you an example. If you look at Icarus flying too close to the sun, that can be related to, say, like traders who are over trading, over leveraging, you know, their confidence becomes too much and they then blow their account because of doing silly things. You know, they’re ignoring risk management rules and you get disaster. Exactly like Icarus flying too close to the sun with confidence. You can look at Odysseus and, you know, the principles of trading with discipline. You know, look at your trading as a long journey and how to gain patience when under pressure. Sticking to your trading plan despite distractions that you may have. You’ve got the example of sirens and market noise, and you know you’ve got social media tips out there telling you what to do. You get people saying, this is a guaranteed trade set up. You get, you know, emotional temptations pulling you away from your strategy because you’re out there on forum sites looking at other things. So you’ve got all those kind of issues going on there. Obsession with money. You’ve got King Midas obsession with profits, you know, just looking at money, money, money. Whenever people do backtesting, they always pick the 1 with the, you know, the most money and you then get away from, you know, what you really need as a trader, which is consistency as well so people forget that. Achilles, so the Achilles heel your trading psychology becomes your weakness. You know, revenge trading, fear of missing out potentially like refusing to accept losses. All those type of things. So really important that you think about these, you know, principles that have been around for thousands and thousands of years and how they can help you with your trading. Markets, you know, are new, but emotions are not. Emotions have been there forever. You don’t need a degree to become a good trader. So the best traders out there, they’re not necessarily the smartest ones. And I find this with my, you know, with my students. And when I...]]>358false1fullhttps://www.spreaker.com/episode/634-the-trading-community-that-changed-everything--72739737Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #634: The Trading Community That Changed Everything
In this video:
00:28 – 9 days as a guest trader in Bali.
01:35 – 15 traders trading live in front of an audience.
02:15 – October 2027 is the next trading retreat date.
02:25 – My big takeaway is the power of our trading community.
04:45 – View our new look website and Masterclass.
04:56 – Blueberry Markets as a Forex Broker.
05:40 – Real people, community and communication. Communication in any form of life is so important. And in trading is absolutely vital. And I want to talk about that really important topic right now. This is Andrew Mitchem here, The Forex Trading Coach with video and podcast number 634. 9 days as a guest trader in Bali. Back home here in New Zealand. Beautiful autumn day after spending 9 days in Bali at a trading retreat. It was a fantastic retreat and I want to share some information about that. I was invited over there as a guest trader and there were around 60 learning traders there and about 15 traders from around the world, of which I was one. We were all there to help the people learn, but also to just offer our experience and our knowledge and to talk to each other and learn from each other. And it was a really, genuinely great event where people were just sharing information and ideas. And when people do that, you realize that obviously there’s more than 1 way to trade, and people have different ideas of how they view the market, and there’s no right way to trade. There’s lots of wrong ways to trade. But by talking about this with other traders and just seeing their perspective, you know, we were all sharing ideas and all learning and it was massively valuable. And I gave several presentations over there. 15 traders trading live in front of an audience. And the other thing that was so good about the retreat was the 15 traders. We were all trading for the 5 days, Monday through to Friday during the Asian session, the European session and the US session. So there was nothing hidden. You know, when we saw trades, we identified the trades, we placed it, people could see them live. There was none of this, you know, TikTok, YouTube stuff where, you know, people are showing you, you know, the 1 trade out of 100 that works. We were all there together in real time, real markets. And, you know, with the pressure of doing that in front of all these traders and, you know, and the people learning as well. And so it was a fascinating experience to be there. October 2027 is the next trading retreat date. Now, on a side note, we are looking at getting more of our Forex Trading Coach clients to their next retreat, which is likely to be October 2027. My big takeaway is the power of our trading community. But the information that I got out of it when I shared what we do at The Forex Trading Coach and the bit that people really thought was so powerful is, of course, not just a strategy. And by the way, we took some great trades. I had some, you know, some lovely trades across different markets and time frames live for that week. That was great. But the bit that people resonated with and people picked up on was the power of our community of traders. And I think that’s something that’s so underestimated. If you don’t trade properly and you don’t appreciate it. You see, trading is a very lonely business. You’re sitting there at home or wherever you do your trading from. Most people don’t thoroughly understand what you do. They don’t really get it. And people say to me, are you trading shares or something? No, it’s completely different. But, you know, people just don’t get it and that’s fine. It’s not for everybody. But the issue that I see that so many people out there face is they don’t have that communication and that way of contacting other people. And it’s 1 thing that the traders there at that retreat in Bali were so impressed with what we offer at The Forex Trading Coach, you know, with our forum site where we’ve got traders from right around the world, you know, from 111 countries over the last 17 years. And by the way, it’s our 17th birthday this week right now. So we’re very proud of that as well. But you know, we are all there to help each other. No 1 dominates. No 1 takes over. Everybody is there to share trades to help each other, no matter where you live in the world. And I think that along with our live weekly webinars where we’re trading in front of our clients and people can ask questions and we talk about trades and shows that we’re really doing this and we’re real people and we’re genuinely there to help each other. And so all our clients and, you know, we’re really careful not to have that bad apple, you know, that ruins it for everybody. That doesn’t happen. And it’s something we’ve been, you know, really proud of over those 17 years that we are there as a family and a community of traders, all trading the 1 strategy and helping each other. As mentioned, if you’re new to trading, you probably won’t appreciate how big that really is. If you’ve been trading for any length of time and you’re stuck online on just generic forums and things like that, you’re going to realize that a real forum, real communication, real people taking real trades is an absolute, you know, it’s rare out there and it’s something that we pride ourselves on. View our new look website and Masterclass. So if you’d like to find out more, have a look at my website, TheForexTradingCoach.com. You can go on to our free masterclass where you can find out about how we trade and how we help our clients succeed. Blueberry Markets as a Forex Broker. And if you’re out there looking for a really good forex broker that also offers other markets such as the cryptos, metals, commodities, indices, which we trade, all because the strategy works across all those markets and all time frames. It’s Blueberry Markets. They offer the MT5 platform. And of course that’s so much better with more markets and also more time frame charts. You know, I love trading, say like the 12 hour and the 8 hour and a 6 hour charts which are not readily available on most other platforms, not even MT4, although we do have software that allows our traders on MT4 to use those time frame charts with a clever bit of software that we’ve got. But the beauty of MT5 is it’s already built in, so you don’t have to worry about that. Real people, community and communication. So in summary, communication is key, having like minded people around you is key. Real people trading properly and doing well is key. It’s quite rare, but we offer that. If you’d like to find out more, contact me, Andrew@TheForexTradingCoach.com or like I said, jump on to my website. Or better still, onto the short masterclass to find out more. I see you this time next week. Bye for now. Episode Title: #634: The Trading Community That Changed Everything
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=24001Sun, 24 May 2026 12:00:59 +0000Andrew MitchemThe Trading Community That Changed Everything  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #634: The Trading Community That Changed Everything
In this video:
00:28 – 9 days as a guest trader in Bali.
01:35 – 15 traders trading live in front of an audience.
02:15 – October 2027 is the next trading retreat date.
02:25 – My big takeaway is the power of our trading community.
04:45 – View our new look website and Masterclass.
04:56 – Blueberry Markets as a Forex Broker.
05:40 – Real people, community and communication. Communication in any form of life is so important. And in trading is absolutely vital. And I want to talk about that really important topic right now. This is Andrew Mitchem here, The Forex Trading Coach with video and podcast number 634. 9 days as a guest trader in Bali. Back home here in New Zealand. Beautiful autumn day after spending 9 days in Bali at a trading retreat. It was a fantastic retreat and I want to share some information about that. I was invited over there as a guest trader and there were around 60 learning traders there and about 15 traders from around the world, of which I was one. We were all there to help the people learn, but also to just offer our experience and our knowledge and to talk to each other and learn from each other. And it was a really, genuinely great event where people were just sharing information and ideas. And when people do that, you realize that obviously there’s more than 1 way to trade, and people have different ideas of how they view the market, and there’s no right way to trade. There’s lots of wrong ways to trade. But by talking about this with other traders and just seeing their perspective, you know, we were all sharing ideas and all learning and it was massively valuable. And I gave several presentations over there. 15 traders trading live in front of an audience. And the other thing that was so good about the retreat was the 15 traders. We were all trading for the 5 days, Monday through to Friday during the Asian session, the European session and the US session. So there was nothing hidden. You know, when we saw trades, we identified the trades, we placed it, people could see them live. There was none of this, you know, TikTok, YouTube stuff where, you know, people are showing you, you know, the 1 trade out of 100 that works. We were all there together in real time, real markets. And, you know, with the pressure of doing that in front of all these traders and, you know, and the people learning as well. And so it was a fascinating experience to be there. October 2027 is the next trading retreat date. Now, on a side note, we are looking at getting more of our Forex Trading Coach clients to their next retreat, which is likely to be October 2027. My big takeaway is the power of our trading community. But the information that I got out of it when I shared what we do at The Forex Trading Coach and the bit that people really thought was so powerful is, of course, not just a strategy. And by the way, we took some great trades. I had some, you know, some lovely trades across different markets and time frames live for that week. That was great. But the bit that people resonated with and people picked up on was the power of our community of traders. And I think that’s something that’s so...]]>366false1fullhttps://www.spreaker.com/episode/633-you-can-be-profitable-with-a-37-win-rate--72739732Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #633: You Can Be Profitable With A 37% Win Rate
In this video:
00:43 – Win Rates in Trading and a Simple Example
01:26 – Percentage Risk for a Trade/Risk Management
02:08 – Client Ryan achieves 9% with a 37.6% win rate
02:46 – Outside world win percentages for Roger Federer,
03:15 – Casino games win rate, need 55%+
03:57 – Sports betting win rate, need 55%+
04:48 – 95% traders lose, only hear about the 5% winners, winning AND s
05:33 – 2 ways to react to losing trades, one preferred way
06:17 – Taking the good with the bad: celebrate wins and deal with losses How would you like to be a consistent and profitable trader with a win rate in the mid to high 30s or low to mid 40s? Impossible? It’s not. And how do we react to losing trades? Let’s talk about that and more right now. Hello this is Paul Tillman. I’m the Director of Coaching Services at The Forex Trading Coach here at my home in the Raleigh, North Carolina area. And this is video and podcast number 633. I want to talk to you about 2 things: win rates and losing trades. Win Rates in Trading and a Simple Example So win rates which is simply the number of trades you’re winning divided by total number of trades that you are taking. So let’s do a simple example here. Let’s say you take 2 trades. First 2 trades you lose your risking $100 per trade and you’re down $200. Let’s say the 3rd trade that you take is a winning trade. And your reward to risk is 3 to 1, as in your win is 3 times what your loss is. So you’ve won $300 on that trade. Now if we add that up you have 2 losing trades at -200 and 1 winning trade at +300. So you’ve made a net gain of $100. And with 33.3% win rate. Percentage Risk for a Trade/Risk Management And as always we suggest taking a quarter or a half percent risk on the actual trade that you take. Risk management is very key, and so is consistently getting that reward to risk. So you can be a profitable trader at 33.3%. Now if we extrapolate that on all the trades that we take on our live webinars, on our form site and our chat room area for our daily trade suggestions, which is like a newsletter we put out each weekday. Extrapolate that out to tens and hundreds of trades in a year, and you can do very, very well with a win rate that’s much lower than 50%. Client Ryan achieves 9% with a 37.6% win rate In fact, we had a trader, Ryan, who said for his March trades, he made 9% gain at a half percent risk, with an average awarded to risk of 2.6 to 1 across all his trades. And his win rate was 37.6%. So under 40 with a 9% gain in 1 month. That is incredibly good. And if you could do that every month, you know the sky is the limit with regards to firms and trading retirement accounts or whatever it is, you can do fantastically well now in the outside world, that’s very hard to do to be successful at something at under 50%. Outside world win percentages for Roger Federer, Let’s take a few cases here. Roger Federer, who’s arguably my favorite tennis player and I think one of the best of all time, only won about 54%-55% of all points that he played. Which is crazy to think about how many Grand Slam titles and overall titles that he’s won and he’s only done that percentage. Casino games win rate, need 55%+ Now let’s take 2 other different ventures: the casino. A lot of people are going to casinos on cruises, or if there’s casinos where you are and the house always has about a 1% to 5% edge, depending on what game or what type of hands you’re playing, machines, et cetera, etc. so you’ve got to be in that 53% to 55% win rate range just to break even. And the casinos know this and they have that house edge. So it’s built in. But if you can get over 55%, which is rare, and your casino games and everything are set up for you not to do that, especially long term, then you’ll be a consistent winning player of the casino. Sports betting win rate, need 55%+ Let’s take sports betting huge around the world and has been growing in the US the last 5 to 10 years especially. Again, there’s a built in advantage to the casino. If you win 52% – 53% of bets, you’ll break about even that, that juice that they have or that vig as they say, is to the sports books advantage and the casinos. The best bettors in the world only win 55% to 60%. And that’s at the very top. But you can do well if you can achieve that number. So in trading, you know, high 30s, low 40s. Our client Ryan, who’s been with us a couple of years and others are getting right in that, you know, mid to high 30s or low 40s for a win rate. 95% traders lose, only hear about the 5% winners, winning AND losing trades The other one that I want to talk to you about is losing trades. There’s a reason why 95% of traders lose. But you don’t hear about the 95%. You hear about the 5%. If you take a look out there, I’m a proud owner. I’ve got another car. I would have been newer one, but that’s my 2007 Hyundai Santa Fe. It’s got 365,000 miles on it. And you know, I’m just regular guy with a family. And I’m going to show you what winning and losing trades are about, because that’s what most of 98% of us deal with. And we’ll give you the real story. A lot of times on social media, you don’t get what goes on behind the curtain because people only post about the positive things. So I want to give you the true story of trading and how it goes. So losing trades, none of us like to lose. But it does happen. 2 ways to react to losing trades, one preferred way So how do we react to losing trades? What are 2 ways? 1, I made a technical error. I had a deal breaker in my strategy and I traded it. I traded during news. I broke a rule I over risk, I over traded whatever I tried to revenge trade, whatever it is. That’s 1 reason why you also trade. The 2nd reason, and the 1 I prefer the most is you made your analysis, you stuck to your strategy, you kept all the rules, you took the right risk and you took the trade and it lost and the market just simply went against you. That’s the preferable way to trade. That’s a great way to lose a trade. Even though that sounds counterintuitive. Taking the good with the bad: celebrate wins and deal with losses But losing streaks will happen sometimes you’ll have a losing week or a losing month and you just have to deal with that. That’s the reality of trading. As my good friend Darryl says, you have to take the good with the bad in life, and that certainly applies to trading. Take the winning trades, celebrate them, and learn how to deal with the losses. And all together, you’ll have a consistently profitable time of trading, and you can learn the life long skill and have it work in your favor. So that’s it for me. I’m going to go watch Carolina Hurricanes NHL hockey team here in the Raleigh area, going for the Stanley Cup. But yeah, we’ve talked about win rates today and how you can win with much less than 50% and still be consistently profitable. And how do we react? It’s easy to react to a winning trade, but how do we react to losing trade. So that’s it for me. We enjoy this beautiful weather and some hockey and we’ll see you next week here at The Forex Trading Coach. Thanks. Episode Title: #633: You Can Be Profitable With A 37% Win Rate
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=23919Sun, 10 May 2026 12:00:59 +0000Andrew MitchemYou Can Be Profitable With A 37% Win Rate  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #633: You Can Be Profitable With A 37% Win Rate
In this video:
00:43 – Win Rates in Trading and a Simple Example
01:26 – Percentage Risk for a Trade/Risk Management
02:08 – Client Ryan achieves 9% with a 37.6% win rate
02:46 – Outside world win percentages for Roger Federer,
03:15 – Casino games win rate, need 55%+
03:57 – Sports betting win rate, need 55%+
04:48 – 95% traders lose, only hear about the 5% winners, winning AND s
05:33 – 2 ways to react to losing trades, one preferred way
06:17 – Taking the good with the bad: celebrate wins and deal with losses How would you like to be a consistent and profitable trader with a win rate in the mid to high 30s or low to mid 40s? Impossible? It’s not. And how do we react to losing trades? Let’s talk about that and more right now. Hello this is Paul Tillman. I’m the Director of Coaching Services at The Forex Trading Coach here at my home in the Raleigh, North Carolina area. And this is video and podcast number 633. I want to talk to you about 2 things: win rates and losing trades. Win Rates in Trading and a Simple Example So win rates which is simply the number of trades you’re winning divided by total number of trades that you are taking. So let’s do a simple example here. Let’s say you take 2 trades. First 2 trades you lose your risking $100 per trade and you’re down $200. Let’s say the 3rd trade that you take is a winning trade. And your reward to risk is 3 to 1, as in your win is 3 times what your loss is. So you’ve won $300 on that trade. Now if we add that up you have 2 losing trades at -200 and 1 winning trade at +300. So you’ve made a net gain of $100. And with 33.3% win rate. Percentage Risk for a Trade/Risk Management And as always we suggest taking a quarter or a half percent risk on the actual trade that you take. Risk management is very key, and so is consistently getting that reward to risk. So you can be a profitable trader at 33.3%. Now if we extrapolate that on all the trades that we take on our live webinars, on our form site and our chat room area for our daily trade suggestions, which is like a newsletter we put out each weekday. Extrapolate that out to tens and hundreds of trades in a year, and you can do very, very well with a win rate that’s much lower than 50%. Client Ryan achieves 9% with a 37.6% win rate In fact, we had a trader, Ryan, who said for his March trades, he made 9% gain at a half percent risk, with an average awarded to risk of 2.6 to 1 across all his trades. And his win rate was 37.6%. So under 40 with a 9% gain in 1 month. That is incredibly good. And if you could do that every month, you know the sky is the limit with regards to firms and trading retirement accounts or whatever it is, you can do fantastically well now in the outside world, that’s very hard to do to be successful at something at under 50%. Outside world win percentages for Roger Federer, Let’s take a few cases here. Roger Federer, who’s arguably my favorite tennis player and I think one of the best of all time, only won about 54%-55% of all points that he played. Which is crazy to think about how many Grand Slam titles and overall titles that he’s won and he’s only done that percentage. Casino games win rate,...]]>444false1fullhttps://www.spreaker.com/episode/632-the-trading-mistake-that-keeps-you-broke--72739734Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #632: The Trading Mistake That Keeps You Broke
In this video:
00:28 – Too many traders simply over trade.
01:20 – We have so much access to charts.
03:19 – Don’t break your trading strategy and rules.
03:44 – Blueberry Markets as a good broker choice.
04:15 – Bali trading retreat.
05:05 – Don’t force trades. Overtrading can be the absolute killer for many people. And this week's been a perfect example of why you should not do that. I want to discuss that and more with you right now. Hey there traders! Andrew Mitchem here at The Forex Trading Coach. Outside another beautiful day with video and podcast number 632. Too many traders simply over trade. Now overtrading is a problem that so many people have. You know people get into trading and they want look at the charts. They want to be taking positions. They're seeing this indicator jump over that one on this dot appear here. And all these different things that look really, really cool. And they go down to very short time frame charts. And they're so desperate to see trades. And look, I get it. I used to be like that years ago. Don't forget, when I started we were on dial up internet and when 1 gigabyte a month was a huge data plan. And so when I jumped on the computer and finally got the internet to work. You know, if you my age, you'll understand and remember the old sound of the dial up internet. The issue that we had then is that because now I'm now online, the kids are asleep type of thing, and now I've got a bit of time. I'm forcing a trade. We have so much access to charts. And today we almost have the same problem, but a different scenario that we have so much access to everything. And you can just look on your phone or, you know, and you can just jump online at any stage and you're forcing trades to happen. And sometimes the very best thing you can do is not to trade. Now, this particular week has been a terrible week for trading. It's just been like nothing's showing up on the charts. Very few trades I think I've taken 4 trades and it's now Thursday and there's hardly anything happening. It's day after day of scanning through the charts. Just quickly go no, there's nothing there. And so while sometimes that can feel frustrating, you've got to remember that there is no point in taking a trade just for the sake of taking a trade. All you're doing is giving yourself a really good chance of losing, and you're feeding your broker more what I call clicky click fees. You know, more commission fees for entering the trade and it's going against your trading plan that's going against what you know that you should really do. But you feel as a trader, whether you're on a prop firm or you're on an account, you feel that the only way you're going to grow your account is obviously to take trades. But the reality is in these market situations, less really is more. The market's been very volatile, obviously with all the things happening in the world. And that's just getting reflected on the charts with lots of absolute flat, no movement, just day after day after day. And so now of course, there have been some trades and a few trades, but like in general it's been a terrible week for trading. And so as mentioned, just to accept it, it's part of trading next week will probably be absolutely brilliant. And it's just the way it is. So you can't change it. You can't like manipulate the market. You can't do any of these things. You just got to go with what you presented at the time. So the takeaway lesson and the key of this video is that, you know, trading sometimes is not exciting. And that's the reality of it. And you've got to accept that if you're a real trader. Don’t break your trading strategy and rules. Don't over trade, don't force trades, don't, you know, change your strategy, break your rules just because the market's not giving you anything, you're just going to regret it and hate doing it and lose trades. And then, you know, next week when the market, let's say, does become good, you're fighting, trying to get profitable trades just to get back to break even from the terrible week you might have had in a week like this, if you're taking too many positions. So bear that in mind. Blueberry Markets as a good broker choice. If you're out there looking for a really good forex broker, I can highly recommend Blueberry Markets. They're based across in Australia, but people from right around the world can trade with them. So a few exceptions like the US and a couple of other countries, but most other people you can trade with Blueberry Markets. Look, there's heaps of brokers out there and, you know, there's a lot of not great ones and there's a few really good ones. And I would classify Blueberry Markets as one of the very best that I've ever dealt with. So I'll put a link to them if you're interested in them as well. Bali trading retreat. Also to let you know that, this time next week I'll be on a plane to Bali. I have, I'm going there to be part of a trading retreat, with a 5 trading days of actual live trading in front of people and a couple days at the weekend prior with lots of events and trading, sort of presentations and speakers, etc. So really looking forward to that. I'm very honored to have been asked, as 1 of the traders from 20 traders attending from right around the world, we're going to be real trading. This is not some expo where we're all stood there in a, you know, in a booth or a tent and waffling on about trading. This is real trading with professional traders from right around the world and about 80 attendees. So I'll be making some videos and podcasts from Bali in the next week or so, and bringing you all the information that I can learn from that to pass on to you. Don’t force trades. So, looking forward to that one. But, for now, don't over trade, don't force trades. If there's nothing there, just get outside and do something else. And, there'll be a trade there soon. This is Andrew here at The Forex Trading Coach. I see you this time next week. Bye for now. Episode Title: #632: The Trading Mistake That Keeps You Broke
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=23717Sun, 26 Apr 2026 12:00:08 +0000Andrew MitchemThe Trading Mistake That Keeps You Broke  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #632: The Trading Mistake That Keeps You Broke
In this video:
00:28 – Too many traders simply over trade.
01:20 – We have so much access to charts.
03:19 – Don’t break your trading strategy and rules.
03:44 – Blueberry Markets as a good broker choice.
04:15 – Bali trading retreat.
05:05 – Don’t force trades. Overtrading can be the absolute killer for many people. And this week's been a perfect example of why you should not do that. I want to discuss that and more with you right now. Hey there traders! Andrew Mitchem here at The Forex Trading Coach. Outside another beautiful day with video and podcast number 632. Too many traders simply over trade. Now overtrading is a problem that so many people have. You know people get into trading and they want look at the charts. They want to be taking positions. They're seeing this indicator jump over that one on this dot appear here. And all these different things that look really, really cool. And they go down to very short time frame charts. And they're so desperate to see trades. And look, I get it. I used to be like that years ago. Don't forget, when I started we were on dial up internet and when 1 gigabyte a month was a huge data plan. And so when I jumped on the computer and finally got the internet to work. You know, if you my age, you'll understand and remember the old sound of the dial up internet. The issue that we had then is that because now I'm now online, the kids are asleep type of thing, and now I've got a bit of time. I'm forcing a trade. We have so much access to charts. And today we almost have the same problem, but a different scenario that we have so much access to everything. And you can just look on your phone or, you know, and you can just jump online at any stage and you're forcing trades to happen. And sometimes the very best thing you can do is not to trade. Now, this particular week has been a terrible week for trading. It's just been like nothing's showing up on the charts. Very few trades I think I've taken 4 trades and it's now Thursday and there's hardly anything happening. It's day after day of scanning through the charts. Just quickly go no, there's nothing there. And so while sometimes that can feel frustrating, you've got to remember that there is no point in taking a trade just for the sake of taking a trade. All you're doing is giving yourself a really good chance of losing, and you're feeding your broker more what I call clicky click fees. You know, more commission fees for entering the trade and it's going against your trading plan that's going against what you know that you should really do. But you feel as a trader, whether you're on a prop firm or you're on an account, you feel that the only way you're going to grow your account is obviously to take trades. But the reality is in these market situations, less really is more. The market's been very volatile, obviously with all the things happening in the world. And that's just getting reflected on the charts with lots of absolute flat, no movement, just day after day after day. And so now of course, there have been some trades and a few trades, but like in general it's been a terrible week for trading. And so as mentioned, just to accept it,...]]>322false1fullhttps://www.spreaker.com/episode/631-he-took-one-course-now-runs-multiple-prop-accounts--72739742Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #631: He Took One Course… Now Runs Multiple Prop Accounts
In this video:
00:28 – We help traders become profitable.
01:20 – Live prop firm trading webinar for our clients.
01:55 – A life changing event joining TFTC.
03:52 – Come and join us at TFTC.
04:28 – Watch my Masterclass.
04:36 – Blueberry Markets as a Forex Broker. Do you know that something as simple as taking a course can change your life? That's what's happened to us here at The Forex Trading Coach this week with one of our clients from Singapore. I want to talk about that more right now. Hey there traders! Andrew here at The Forex Trading Coach for video and podcast number 631. We help traders become profitable. At The Forex Trading Coach, our aim is to have all of our clients successful traders and just this week to help out. As an added bonus, we held a 90 minute live prop firm webinar. Now I was joined on the webinar by Ryo. He's a client of mine who's been with us since 2021. And he understood the course. He got it. He has put a lot of time and effort in and from 2022 onwards. So for the last 4 years, he has been successfully trading on prop firms. So he's passing through the challenge stages. He's on to real money and he's successful on multiple prop firms. He averages sort of 3 to 5 live prop firms at a time, running solely on the strategy that I taught him back 5 years ago. Live prop firm trading webinar for our clients. Now, to help out our clients, Ryo joined me on the webinar just this week. And he just gave his whole insights into prop firms, you know, the pros and cons of doing it, how he trades on them, the practical aspects of it. You know, what it's looking for in terms of the strategy, obviously our strategy, but in terms of risk, which trades he takes, which he does, and all that type of thing. And he is incredibly successful at doing this. A life changing event joining TFTC. Now, I'm going to stop now and just jump to about a 1 minute clip from the end of that session, because what Ryo said to me at the end, brought a tear to my eye and he said that joining the course back then in 2021 has been life changing for him. Now, that means so much to me and our other coaches because we genuinely care about our clients and their success. Have a listen to the end of that session right now. I really appreciate your time and your contribution to everybody's success here. And, I. Mean, I just want to say a personal word as well. I mean, thank you, Andrew, for, you know, I mean, of course, I obviously I didn't get into this for you, right? I mean, I paid for the course and everything, but I think what is more important is the platform that you have created and you know, the honesty that you have that you have shown over the years. Just being realistic on how trading has actually really changed my life. So I'm really thankful for you. Follow along for this. Hence, I actually put in the effort to try to give back to the community as best as I can. And here what we have now today, and the 95 page document is really a culmination of all my experiences, all my knowledge I can put into it, get it into my pitch, and I hope I can help traders just to pay it forward in a sense. Awesome! That’s very kind of you. That means a lot. And yeah, I think we should stop there. Otherwise I'm going to shed a tear. That means a huge amount there, you know, when you said it's changed your life and that. And that's huge. I mean, that's what we do, what we do, why we do what we do. And I really appreciate that. That's awesome. Lots of nice comments coming through from people here as well. Thank you so much for your time. So I hope you enjoyed listening to that. As I said earlier, it really meant a lot to me that we have helped change the lives of people, and their families. Come and join us at TFTC. And if you'd like to find out how you can come on board and join our community and beyond webinars like Ryo held for our clients this week. And by the way, he created a 95 page PDF file that all of our clients now have. He's done that for free. I didn't ask him to do that. He jumped on the webinar and did that for free. He provided 62 slides and he made them all himself. Got absolutely nothing out of it apart from he now wants to give back because he is doing so well as a result of joining us some 5 years ago. Watch my Masterclass. So if you'd like to do the same, have a look at the masterclass that I have on here. I'll put a link or straight to the video course page if you'd like to come straight on board with us right now. Blueberry Markets as a Forex Broker. If you're out there looking for a broker, I can highly recommend Blueberry Markets. I've been with them for years. Again, personal contact, I know them, I've met them. I've been to their offices. I know them in person. I speak to them on a regular basis. And I think in this market, when there are just so many choices and so many videos out there and gurus and experts and brokers and all these different things, it comes back to human contact and having trust in someone that's out there doing it. And that's why Ryo is so successful. That's why we're successful at not only trading ourselves, but teaching people. And that's why I can recommend Blueberry Markets. It's that personal contact that sets us all apart. We care, we genuinely care. We genuinely do this on a day by day basis. If you'd like to join us or Blueberry Markets, have a look at the links here. Don't forget to like, share and subscribe if you're watching and I'll see you this time next week. This is Andrew Mitchem here at The Forex Trading Coach. Bye for now. Episode Title: #631: He Took One Course… Now Runs Multiple Prop Accounts
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=23380Sun, 19 Apr 2026 12:00:59 +0000Andrew MitchemHe Took One Course… Now Runs Multiple Prop Accounts  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #631: He Took One Course… Now Runs Multiple Prop Accounts
In this video:
00:28 – We help traders become profitable.
01:20 – Live prop firm trading webinar for our clients.
01:55 – A life changing event joining TFTC.
03:52 – Come and join us at TFTC.
04:28 – Watch my Masterclass.
04:36 – Blueberry Markets as a Forex Broker. Do you know that something as simple as taking a course can change your life? That's what's happened to us here at The Forex Trading Coach this week with one of our clients from Singapore. I want to talk about that more right now. Hey there traders! Andrew here at The Forex Trading Coach for video and podcast number 631. We help traders become profitable. At The Forex Trading Coach, our aim is to have all of our clients successful traders and just this week to help out. As an added bonus, we held a 90 minute live prop firm webinar. Now I was joined on the webinar by Ryo. He's a client of mine who's been with us since 2021. And he understood the course. He got it. He has put a lot of time and effort in and from 2022 onwards. So for the last 4 years, he has been successfully trading on prop firms. So he's passing through the challenge stages. He's on to real money and he's successful on multiple prop firms. He averages sort of 3 to 5 live prop firms at a time, running solely on the strategy that I taught him back 5 years ago. Live prop firm trading webinar for our clients. Now, to help out our clients, Ryo joined me on the webinar just this week. And he just gave his whole insights into prop firms, you know, the pros and cons of doing it, how he trades on them, the practical aspects of it. You know, what it's looking for in terms of the strategy, obviously our strategy, but in terms of risk, which trades he takes, which he does, and all that type of thing. And he is incredibly successful at doing this. A life changing event joining TFTC. Now, I'm going to stop now and just jump to about a 1 minute clip from the end of that session, because what Ryo said to me at the end, brought a tear to my eye and he said that joining the course back then in 2021 has been life changing for him. Now, that means so much to me and our other coaches because we genuinely care about our clients and their success. Have a listen to the end of that session right now. I really appreciate your time and your contribution to everybody's success here. And, I. Mean, I just want to say a personal word as well. I mean, thank you, Andrew, for, you know, I mean, of course, I obviously I didn't get into this for you, right? I mean, I paid for the course and everything, but I think what is more important is the platform that you have created and you know, the honesty that you have that you have shown over the years. Just being realistic on how trading has actually really changed my life. So I'm really thankful for you. Follow along for this. Hence, I actually put in the effort to try to give back to the community as best as I can. And here what we have now today, and the 95 page document is really a culmination of all my experiences, all my knowledge I can put into it, get it into my pitch, and I hope I can help traders just to pay it forward in a sense. Awesome! That’s very kind...]]>338false1fullhttps://www.spreaker.com/episode/630-the-truth-about-full-time-trading-it-s-not-what-you-think--72739739Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #630: The Truth About Full-Time Trading (It’s Not What You Think)
In this video:
00:26 – What my typical trading day looks like.
01:15 – Easter break and 2x H6 trades taken.
02:01 – I’m up +3.4% for the week to date.
03:03 – We trade using limit order so you can always place the trades.
03:45 – Enjoy life and trade less.
05:00 – Don’t get glued to the computer all day.
06:19 – Trading for 21 years.
06:42 – Check out my Masterclass. What does the typical trading day look like for a full time trader? Well, I'm going to share with you what I do, how I do it, and why I think it's a great way to trade. So let's talk about that more right now. Hey there traders! Andrew here at The Forex Trading Coach for video and podcast number 630. What my typical trading day looks like. I quite often get asked by people around the world saying, “Hey Andrew, can you show me like how you're trading or what your typical day looks like?” And people get very concerned that, you know, maybe they can't trade the way that I trade because they live in a different country, or they've got commitments or other work or whatever it might be. So just to show you now, we've just turned 10:00 in the morning here, and I've just taken my trades for today. So every day at 5 p.m., New York time, which currently is 9:00 am here in New Zealand. I go through and look at the daily charts and also the 12 hour, the 8 hour and the 6 hour charts, and we post trades every single day and have done since 2010 on our membership site for our clients based on that close of day. Easter break and 2x H6 trades taken. Now, right now we've just had Easter, so the markets are kind of a bit all over the place. And for today, there were no specific daily trades. It's quite unusual. Most days we have between say 1 and about 4 or 5 daily chart trades. Today there were none. That's absolutely fine. It's just what the market's doing. There were some big moves yesterday. There's this potential, sort of peace deal going on with the Iran war and so big movement in the market, but right now, no specific daily trades for today. However, we did just take 2 trades on the 6 hour charts. I've just taken a sell trade on the GBP/JPY and also the GBP/CAD. And so they've been placed here behind me. I’m up +3.4% for the week to date. My account so far this week, and bear in mind, it's a very quiet week with Monday and Tuesday no trading due to Easter, I'm up 3.4% for the week so far, and that now, after I've just taken those 2 6 hour chart trades, that is my trading done for today. Now, later tonight, my time, I'm actually holding a live webinar with my clients, and we will be looking at the 5 a.m. Eastern Standard Time, New York change over. And you can quite easily trade in just once a day, twice a day following along with what we're doing. Now depending on where you live in the world, you can of course trade other candle closes. So, for instance, in 6 hours from right now, which will be my 3 p.m., I could look at the 6 hour charts, at my 5:00 pm, I could look at the 8 hour charts. And so depends where you live in the world on those candle closes. But, if you wanted to do nothing else, you could trade just once a day. We trade using limit order so you can always place the trades. Now, if you're saying to me, hey, look, I live in Europe, and the 5:00 pm New York time is the middle of the night for me. That's fine. We've got clients in 111 countries right around the world who trade our system. So what you guys can do is, if it's too late for you in your evening time, you can wait until your morning time and place trades on those daily charts or those other time frame charts, because we use limit orders. So you don't have to be here right now at this exact time. And that's the beauty of the way we trade. So for me, that's my trading done. I've got the webinars mentioned later tonight, my time with clients in the European session. So I'm going to prepare for that. And but from a trading point of view, that is my trading done for the day. Enjoy life and trade less. Other things you can go and do. Well, that's up to you. For me here, I've got my guitars behind me here and my mic set up, and I love doing that. I live on 11 acres here and, we've got, you know, tons to do outside on 11 acres. We grow all our own food or as much of it as we possibly can. I've got animals and chickens and quail, horses, etc. And so I like to get outside and enjoy the 11 acres here of physical work as well. I think that's really important, you know, mentally and physically. You've got to do, I'm not a gym person myself. In fact, I can't think of anything worse than going to a gym personally. I want to achieve something. I'm out, you know, cutting firewood, doing weeding and things like that, growing things. And I think mentally that's so much better for you if you have that opportunity. Get out in the sunshine. Go for a swim. You know, that's the beauty of 11 acres, and we're quite a steep 11 acres as well, so we're always doing something physical. Myself and my wife work outside together as much as possible. So whatever it is that you want to do, this trading here does not require you to sit at the charts all day. Don’t get glued to the computer all day. And that's the issue that so many people have. They think they need to sit on 5 minute charts and 15 minute charts or 1 minute charts. You just don't need to do that. You can trade on your own account. You can trade on prop firm accounts. Don't forget that if you are interested in prop firms, the key to passing a prop firm is not to hit their drawdown level. It's as simple as that. So you need to have low control risk per trade and consistency in your trades, but also high reward to risk trades. Just like the 2 trades I've just taken there. I've placed those on a prop firm. They've only got a quarter of 1% risk each. So if they both went wrong, all I lose is half a 1%. Yet they have an average of a 2.6 to 1 reward to risk if they hit their profit target. So you can see the quality of the money management, the risk management that we have in place that is crucial, not being glued to the charts. Go and do other things, whether it's work, life, family, guitars, flying helicopters, outside growing food, whatever it is that you want to do, have the trading here as something to create an interest in what's happening in the world and the passive income. But don't let it take over your life by being glued to watching the screens all day, you're probably not going to end up enjoying it. Trading for 21 years. I've been doing this for over 21 years now. I've been teaching for nearly 17 years. The reason I love it is because we've got a great community of people all trading the same strategy, and we just trade just a few minutes a day, and we love our trading as a result of that. And as mentioned, 3.4% already this week on what is a very, very quiet week due to the Easter break. Check out my Masterclass. If you'd like to know more, feel free to have a look at my masterclass. Feel free to have a look at the website and all the information we have on there. If you'd like to join us, there's a link there that you can join us here at The Forex Trading Coach. And if you'd like to book a call with my team, you can do that as well. I'll put a link to that. So once again this is Andrew Mitchem here at The Forex Trading Coach enjoying trading, enjoying life, getting outside, putting trades on, leaving them to do their thing, letting the market do its thing. And that's the key to enjoyable and successful trading. Episode Title: #630: The Truth About Full-Time Trading (It’s Not What You Think)
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=23348Sun, 12 Apr 2026 12:00:51 +0000Andrew MitchemThe Truth About Full-Time Trading (It’s Not What You Think) Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #630: The Truth About Full-Time Trading (It’s Not What You Think)
In this video:
00:26 – What my typical trading day looks like.
01:15 – Easter break and 2x H6 trades taken.
02:01 – I’m up +3.4% for the week to date.
03:03 – We trade using limit order so you can always place the trades.
03:45 – Enjoy life and trade less.
05:00 – Don’t get glued to the computer all day.
06:19 – Trading for 21 years.
06:42 – Check out my Masterclass. What does the typical trading day look like for a full time trader? Well, I'm going to share with you what I do, how I do it, and why I think it's a great way to trade. So let's talk about that more right now. Hey there traders! Andrew here at The Forex Trading Coach for video and podcast number 630. What my typical trading day looks like. I quite often get asked by people around the world saying, “Hey Andrew, can you show me like how you're trading or what your typical day looks like?” And people get very concerned that, you know, maybe they can't trade the way that I trade because they live in a different country, or they've got commitments or other work or whatever it might be. So just to show you now, we've just turned 10:00 in the morning here, and I've just taken my trades for today. So every day at 5 p.m., New York time, which currently is 9:00 am here in New Zealand. I go through and look at the daily charts and also the 12 hour, the 8 hour and the 6 hour charts, and we post trades every single day and have done since 2010 on our membership site for our clients based on that close of day. Easter break and 2x H6 trades taken. Now, right now we've just had Easter, so the markets are kind of a bit all over the place. And for today, there were no specific daily trades. It's quite unusual. Most days we have between say 1 and about 4 or 5 daily chart trades. Today there were none. That's absolutely fine. It's just what the market's doing. There were some big moves yesterday. There's this potential, sort of peace deal going on with the Iran war and so big movement in the market, but right now, no specific daily trades for today. However, we did just take 2 trades on the 6 hour charts. I've just taken a sell trade on the GBP/JPY and also the GBP/CAD. And so they've been placed here behind me. I’m up +3.4% for the week to date. My account so far this week, and bear in mind, it's a very quiet week with Monday and Tuesday no trading due to Easter, I'm up 3.4% for the week so far, and that now, after I've just taken those 2 6 hour chart trades, that is my trading done for today. Now, later tonight, my time, I'm actually holding a live webinar with my clients, and we will be looking at the 5 a.m. Eastern Standard Time, New York change over. And you can quite easily trade in just once a day, twice a day following along with what we're doing. Now depending on where you live in the world, you can of course trade other candle closes. So, for instance, in 6 hours from right now, which will be my 3 p.m., I could look at the 6 hour charts, at my 5:00 pm, I could look at the 8 hour charts. And so depends where you live in the world on those candle closes. But, if you wanted to do nothing else, you could trade just once a day. We...]]>436false1fullhttps://www.spreaker.com/episode/629-fuel-prices-are-rising-but-oil-is-dropping--72739738Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass 629: Fuel Prices Are Rising… But Oil Is Dropping?
In this video:
00:33 – War, cost of living and fuel increases.    
00:57 – US Oil prices fluctuating. 
01:38 – In 2022 the oil price was higher than today.
02:40 – As traders we can Buy and Sell. 
03:55 – What makes our style of trading different. 
04:35 – Our redesigned website.
04:45 – Blueberry Markets as a Forex Broker.
05:16 – Check out our Masterclass. Fuel prices are going through the roof across the world, and the cost of living is going mad. Now, how can you trade oil and what's happening to it? What's happening with this war? And how can we as traders make money, whether the oil prices are going up or down? Let's talk about that more right now. Hey there traders! Andrew here The Forex Trading Coach for video and podcast number 629. War, cost of living and fuel increases.     Now obviously the war and the cost of fuel in particular and the cost of living in general is just affecting anybody, really doesn't seem to matter where you live in the world, fuel prices are going absolutely mad and when you have a look at charts, you have a look at oil, for example. It's a little bit difficult to understand some of it. Now let me give me some reasons for this.  US Oil prices fluctuating. And now a couple of weeks ago, we saw the US oil price spike up towards $120. Right now as I'm recording this, it's back to 92. Yet all I'm seeing is the fuel price at the pumps going up and up and up. Now, I also buy Jet A-One Fuel as a helicopter pilot, and that has been going stupid as well with about a 90 cent increase last week, another $0.35 this week. It's just getting ridiculous. Yet on the charts, the price of oil has dropped and it kind of makes you think, without wishing to get political, what's actually happening.  In 2022 the oil price was higher than today. Now, I've just had to look back at my charts at the US oil price and some interesting things happened. Now, no one seems to realize that only four years ago, in March of 2022, the oil price was actually higher than the $120 it peaked at a couple of weeks ago, and it stayed there for almost four months. And if you go back further again to 2013, it was around the same level as where it peaked a few weeks ago. If you go back to 2008, it almost hit $150. Yet here we are today in 2026 and the price right now is $92. Yet fuel prices going mad. And of course the knock on effect of food and transport, etc. it's just crippling businesses and people right around the world. So as mentioned, there is the political side of things, which we've probably all got our opinions and I won't go into mine right now, but something seems wrong. As traders we can Buy and Sell. And then there's the trading point of view, which is what we can talk about. And it is something that we can control more. And the beauty of the way that we trade is we can look at whether US oil or UK oil, and we can make a decision to buy or sell, depending on what the chart is showing us at the time. And we've taken many trades in the last few weeks on oils, both long and short, just because you know the price of the fuel pumps going up and up doesn't mean to say you have to take long trades on it. If you're seeing good selling opportunities, and that is the advantage of the way that we can trade on the forex charts. Now, of course, we can trade other markets such as metals. And again, you know, everybody sort of seeing gold and silver go through the roof. Then of course it fell back. And now it's kind of like pushing back up again. And we have the ability to buy or sell metals. You don't just have to buy simply because everybody thinks gold or silver is going up exactly the same in cryptos. You know, we've seen massive move ups, we've seen big falls. And again, we can buy and sell depending on what the charts are showing us. And we can do the same with indices and of course with all of the pairs available to us. 
What makes our style of trading different.  Now that is what I think makes what we do quite unique and quite special and very exciting. It's just giving us the opportunity to be less, I suppose, concerned with what the mainstream media and we kind of have an opinion on those as well. So don't believe everything they tell you. They certainly don't do that. But you know, in general, everybody sort of thinks that metals are going up, cryptos are going up and certainly oils are going up. And you don't have to just take buy trades, look for opportunities in both directions. And that is an amazing thing with the way that we can trade. Our redesigned website. The other thing I want to mention is that we have a new look website out there. So have a look at TheForexTradingCoach.com, check out the new site. Let me know what you think of that. Blueberry Markets as a Forex Broker. And if you're out there looking for a good broker where you can trade the oils and metals and indices and cryptos and of course forex pairs, check out Blueberry Markets. They're based across in Australia. But people from right around the world, in most countries, it's a few exceptions, but most countries can open an account with Blueberry Markets. Great people, great platform, heaps of markets available to trade and very good tight spreads throughout the day as well. I'll put a link to Blueberry Markets as well. Check out our Masterclass. If you're not checked in on masterclass, make sure you do that. There's a link here as well. And any questions or topics you'd like me to discuss on future videos and podcasts just like this? Just drop me an email Andrew@TheForexTradingCoach.com and don't forget to like and subscribe if you're watching on social media. This is Andrew here The Forex Trading Coach. Let's see how oils keep going. But don't forget the ability of us as traders is to take both long and short. You don't just have to be watching those prices at the pumps and think, well, oil is definitely rising because sometimes it's not. Episode Title: #629: Fuel Prices Are Rising… But Oil Is Dropping?
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=23272Sun, 29 Mar 2026 12:00:57 +0000Andrew MitchemFuel Prices Are Rising… But Oil Is Dropping?  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass 629: Fuel Prices Are Rising… But Oil Is Dropping?
In this video:
00:33 – War, cost of living and fuel increases.    
00:57 – US Oil prices fluctuating. 
01:38 – In 2022 the oil price was higher than today.
02:40 – As traders we can Buy and Sell. 
03:55 – What makes our style of trading different. 
04:35 – Our redesigned website.
04:45 – Blueberry Markets as a Forex Broker.
05:16 – Check out our Masterclass. Fuel prices are going through the roof across the world, and the cost of living is going mad. Now, how can you trade oil and what's happening to it? What's happening with this war? And how can we as traders make money, whether the oil prices are going up or down? Let's talk about that more right now. Hey there traders! Andrew here The Forex Trading Coach for video and podcast number 629. War, cost of living and fuel increases.     Now obviously the war and the cost of fuel in particular and the cost of living in general is just affecting anybody, really doesn't seem to matter where you live in the world, fuel prices are going absolutely mad and when you have a look at charts, you have a look at oil, for example. It's a little bit difficult to understand some of it. Now let me give me some reasons for this.  US Oil prices fluctuating. And now a couple of weeks ago, we saw the US oil price spike up towards $120. Right now as I'm recording this, it's back to 92. Yet all I'm seeing is the fuel price at the pumps going up and up and up. Now, I also buy Jet A-One Fuel as a helicopter pilot, and that has been going stupid as well with about a 90 cent increase last week, another $0.35 this week. It's just getting ridiculous. Yet on the charts, the price of oil has dropped and it kind of makes you think, without wishing to get political, what's actually happening.  In 2022 the oil price was higher than today. Now, I've just had to look back at my charts at the US oil price and some interesting things happened. Now, no one seems to realize that only four years ago, in March of 2022, the oil price was actually higher than the $120 it peaked at a couple of weeks ago, and it stayed there for almost four months. And if you go back further again to 2013, it was around the same level as where it peaked a few weeks ago. If you go back to 2008, it almost hit $150. Yet here we are today in 2026 and the price right now is $92. Yet fuel prices going mad. And of course the knock on effect of food and transport, etc. it's just crippling businesses and people right around the world. So as mentioned, there is the political side of things, which we've probably all got our opinions and I won't go into mine right now, but something seems wrong. As traders we can Buy and Sell. And then there's the trading point of view, which is what we can talk about. And it is something that we can control more. And the beauty of the way that we trade is we can look at whether US oil or UK oil, and we can make a decision to buy or sell, depending on what the chart is showing us at the time. And we've taken many trades in the last few weeks on oils, both long and short, just because you know the price of the fuel pumps going up and up doesn't mean to say you have to take long trades on it. If you're...]]>350false1fullhttps://www.spreaker.com/episode/628-before-you-buy-a-prop-firm-account-watch-this--70811692https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ 628: Before You Buy a Prop Firm Account, Watch This
In this video:
00:37 – How to pass a Prop Firm Challenge.
00:56 – #1 – Don’t open a Prop firm account right now.
01:45 – #2 – You need a proven and easy to trade strategy.
03:05 – #3 – Trade your own real money account.
04:27 – #4 – Use a VPS and Trade Copier software.
05:54 – #5 – Choose the prop firm account type that suits you.
06:55 – Blueberry Markets as a Forex Broker.
07:10 – Our new look website is now live at www.TheForexTradingCoach.com Today, I'm going to give you my top five tips so that you can easily pass a prop firm challenge. This is a really important video if you're wanting to make money through trading the forex market. Let's get into that more right now. Hey there Traders! This is Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 628. How to pass a Prop Firm Challenge. Outside again here today on an absolutely stunning autumn day here in Nelson in New Zealand. And the topic of today's video and podcast is all about how to easily pass a prop firm challenge. I'm going to give you my five top tips. Now, the first one's going to really surprise you, because you're going to be expecting me to talk about some of which prop firms or trading strategy. But my number one top tip to easily pass a prop firm challenge is not to open a prop firm account. Not for now. Certainly, by the end of this, you're going to know why and when you should do so. #1 – Don’t open a Prop firm account right now. But my number one tip, honestly for now, is do not waste your time. Do not waste your money. Do not pay the prop firm. And if you do that now, if you start now, you're going to lose confidence. You're going to lose money. You're going to waste your time. If you hold off, you are going to pass a prop firm challenge in the end. But if you start straight away, you're almost certainly going to end up losing your money and failing. So my number one tip is do not open a prop firm challenge right now. #2 – You need a proven and easy to trade strategy. My number two tip is, of course, you do need a good strategy. And now the strategy needs to be something that's proven. Proven across different markets, different trading conditions, different time frame charts. It needs to be something that aligns with you. Whether it's the time that you can trade, the time of day, the amount of time it requires, does it actually fit with you? Do you understand exactly what the strategy and the logic is? So that's really important. But also the key to passing a prop firm challenge, once you know what you're doing, is not to hit the drawdown level. So you need to be really sure that the strategy and the way that you trade meets their drawdown criteria. So you need to trade with really low risk per trade and have very low drawdowns, and you need consistency in your profitable trades as well. So it's not just about here's a wonderful strategy. It needs to be something, you know, if you hit like a 5% drawdown in a day or so because you're risking too much while you're going to fail the prop firm challenge, regardless of how good your strategy is. So you need to really focus on reducing risk per trade and knowing what you're doing, and when to take the trade and how to keep that risk low. #3 – Trade your own real money account. So third thing would be once you have that strategy in place, you need to get on to a live account of your own money. It needs to be your real money, your live account. It doesn't need to be big, but it needs to be a live account. And the reason is, is that the psychological change between a demo and the live is huge. Now, it doesn't need to be a massive account. I said it could be like a few thousand dollars, but it just needs to be real money. You need to bring emotions into your trading. You know, when you have losing trades, you're going to, you know, it's going to hurt. When you have winning trades, you're going to feel fantastic. So you've got to understand those emotions. But also you've got to try and control those emotions so that those drawdowns and those losing trades and those highs from the winning trades become almost neutralized. And I wouldn't suggest you go to a demo because a demo doesn't mean anything and demo doesn't teach you the psychological side of making or losing real money, your money. So tip number three get on to a live account. You then need to also prove that with your live account, you can become consistent. Now you also need to keep that drawdown very low and treat it though it's a bigger account as well. So show up, be consistent, keep your drawdowns very, very low. And so prove to yourself first on your money that you can trade properly. #4 – Use a VPS and Trade Copier software. The fourth thing you should then do is seek out a virtual server and trade copier software. Now, the reason I say that is because it then makes trading one account or multiple prop firm accounts, whether they be on the demo stage or a live account, different account sizes, different denominations. It makes it very, very easy. Now you think about this in terms of the reality of trading. You're out there trading your, let's say, 2, 3, 4 or $5000 account live and you're saying, well, I'm doing okay. I've passed Andrew's tip number three and it's all good. The trouble is, if you then start on a $100,000 demo or $100,000 live account with a prop firm, that's a massive change in your mental approach. So you don't want to be trading directly on that prop firm account. What I suggest you do is you trade your life master account still, and you have those trades copied behind the scenes automatically onto your prop firm account or prop firm accounts. You know, just imagine you've got five prop firm accounts open. You don't want to be trading every single one of them individually, placing trades, calculating risk lot sizes, entering stops, moving positions, all that type of thing. You don't want to do that. Trade your one small live account properly, knowing that behind the scenes it's getting copied through a trade copier software and a virtual server onto your prop firm account or accounts. Behind the scenes makes life so much easier. #5 – Choose the prop firm account type that suits you. And then finally, my fifth top tip, once you've done all those and you've mastered stage one before, is you do then of course go on to a prop firm account. Now, there are various prop firm accounts out there. And like all things in life, some are better than the worse than others. Some will allow you to go on to one demo and then straight onto live once you pass the demo, some have two stage challenges, some allow you to go straight to live. You really need to figure out what is best for you in terms of the account size, how many accounts you're going to go through, which prop firms you're going to go through, etc. like that. I can certainly give you some ideas and suggestions, but really, once you know how to trade, you then need to decide which prop firm account and company you are willing to go with. So those are my five top tips there. And you do all that and you can then start to easy pass prop firm accounts, quite comfortably, like we have so many of our clients doing on a regular basis. Blueberry Markets as a Forex Broker. If you're out there looking for a good broker, I can highly recommend Blueberry Markets. They have a they also have their own prop firm company as well, Blueberry Funded. But have a look at Blueberry Markets throughout there looking for a good broker. Our new look website is now live at www.TheForexTradingCoach.com And lastly, have a look at our new website, TheForexTradingCoach.com. Our new look website has now gone live. Hope you like the changes and improvements with modernized everything made it a little bit more, sort of, cool looking, you know, it's more efficient, more information on there, easier to navigate and just a little bit sort of modernized. It kind of needed it. And now it's had that facelift. So, hopefully you like that. And, if you'd like to join us, of course, you'll find the joining link on that website. And joining us and learning how to trade properly first is also going to be your shortcut to passing a prop firm challenge, because we have so many people that trade prop firm successfully, because of the way that we do trade and our strategy and the support that we have and the help and longevity and proven strategy across multiple markets and, and such a long time within the markets, you know, we celebrate our 17th birthday, this year in May 2026, in a few months time. So that's it for now. Prop firms are a great way. They're a great option of making money. But, honestly, look at point number one, the best thing you can do to start with if you don't have the other points sorted, is do not open that prop firm account just for now. Get points two, three and four sorted and then go to the live account or the demo account with a prop firm. This is Andrew Mitchem here at The Forex Trading Coach. I see you this time next week. Bye for now! Episode Title: #628: Before You Buy a Prop Firm Account, Watch This
]]>https://theforextradingcoach.com/?p=23116Sun, 22 Mar 2026 12:00:40 +0000Andrew MitchemBefore You Buy a Prop Firm Account, Watch This  Podcast:...https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ 628: Before You Buy a Prop Firm Account, Watch This
In this video:
00:37 – How to pass a Prop Firm Challenge.
00:56 – #1 – Don’t open a Prop firm account right now.
01:45 – #2 – You need a proven and easy to trade strategy.
03:05 – #3 – Trade your own real money account.
04:27 – #4 – Use a VPS and Trade Copier software.
05:54 – #5 – Choose the prop firm account type that suits you.
06:55 – Blueberry Markets as a Forex Broker.
07:10 – Our new look website is now live at www.TheForexTradingCoach.com Today, I'm going to give you my top five tips so that you can easily pass a prop firm challenge. This is a really important video if you're wanting to make money through trading the forex market. Let's get into that more right now. Hey there Traders! This is Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 628. How to pass a Prop Firm Challenge. Outside again here today on an absolutely stunning autumn day here in Nelson in New Zealand. And the topic of today's video and podcast is all about how to easily pass a prop firm challenge. I'm going to give you my five top tips. Now, the first one's going to really surprise you, because you're going to be expecting me to talk about some of which prop firms or trading strategy. But my number one top tip to easily pass a prop firm challenge is not to open a prop firm account. Not for now. Certainly, by the end of this, you're going to know why and when you should do so. #1 – Don’t open a Prop firm account right now. But my number one tip, honestly for now, is do not waste your time. Do not waste your money. Do not pay the prop firm. And if you do that now, if you start now, you're going to lose confidence. You're going to lose money. You're going to waste your time. If you hold off, you are going to pass a prop firm challenge in the end. But if you start straight away, you're almost certainly going to end up losing your money and failing. So my number one tip is do not open a prop firm challenge right now. #2 – You need a proven and easy to trade strategy. My number two tip is, of course, you do need a good strategy. And now the strategy needs to be something that's proven. Proven across different markets, different trading conditions, different time frame charts. It needs to be something that aligns with you. Whether it's the time that you can trade, the time of day, the amount of time it requires, does it actually fit with you? Do you understand exactly what the strategy and the logic is? So that's really important. But also the key to passing a prop firm challenge, once you know what you're doing, is not to hit the drawdown level. So you need to be really sure that the strategy and the way that you trade meets their drawdown criteria. So you need to trade with really low risk per trade and have very low drawdowns, and you need consistency in your profitable trades as well. So it's not just about here's a wonderful strategy. It needs to be something, you know, if you hit like a 5% drawdown in a day or so because you're risking too much while you're going to fail the prop firm challenge, regardless of how good your strategy is. So you need to really focus on reducing risk per trade and knowing what you're doing, and when to take the trade and how to keep that risk low. #3 – Trade...]]>519false1fullhttps://www.spreaker.com/episode/627-why-most-traders-are-completely-confused--70645255https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ 627: Why Most Traders Are Completely Confused
In this video:
00:38 – Information overload.
01:29 – AI predications.
01:53 – I know in my head how to trade.
02:47 – News events moving the markets.
03:46 – People switching strategy.
04:54 – Our strategy has never changed in 17 years.
07:39 – Blueberry Markets as a Forex Broker. Do you suffer from information overload? You know, you see signals out there online. You're not sure what to do. There's so much information, conflicting information. And you just have complete confusion. You don't know what to do, when to do it, and therefore you probably either gamble or give up. If that's you, listen up. The next five minutes is going to be absolutely invaluable information that's going to help change your trading around. Let's get into that more right now. Hey there traders. It's Andrew here at The Forex Trading Coach with video and podcast number 627. Information overload. So today I want to talk about information overload. It's a big problem that people have. You know there's so much information out there online. There's thousands and thousands of indicators. And people seem to think they're going to come up with the Holy grail of indicators. You know, there's massive amount of conflicting information with social media signals. And, you know, there's, other social media, signals saying buy on this pair and at the same time, you're indicators turning down and therefore you think you should be selling, you'll see something on YouTube that says buy. You see something on TikTok that says sell and you'll get something on signal or, you know, telegram that says completely opposite and people just have no idea what to do. And you can see why, because they rely on other people to make that analysis for them, and therefore they really don't know what they're looking for. AI predications. And, you know, the, the other common one that I'm seeing now, of course, is AI predictions. And that, again, you know, while in theory and great AI is going to solve all our problems. Look, AI is going to make us damn lazy. We're not going to have a clue what to do. And if you want to rely on AI, then you know, good luck to you. That's all I can say for me. And I had this discussion with someone just last week. I know in my head how to trade. To me, as a trader, there is nothing better than knowing in my head and in my heart I can see trades, I can take trades. And I've got that information and that powerful information, to be able to do this. You know, for the rest of my life, I want to or however long I want to, and pass that information on to people. And, you know, for people that want to put a bit of time and effort in to figure out this for themselves, then, you know, I think just being able to do this for yourself is massive, and A.I. it's just not going to cut it. I can't see it. It's just not going to have those nuances of those human factors that, you know, we have and can see. Now, sure, I'm not knocking it. And sure there of course there will be a place for it. And, you know, it can help do some analysis in the future and potentially take trades when you're asleep or those type of things. But overall, I think you still need some common sense and knowledge of trading in order to even use A.I., News events moving the markets. News as well. Of course, that's causing massive issues with people right now. You know, we've got the Iran war going on with the oil price going up one day, crashing the next day up again. And and people think it's, you know, it's causing problems. And I get a lot of people say to me, hey, Andrew, what's happening right now with your trading due to this? You know, this war? And I said, well, nothing's changed. You know, markets are moving up and down because mostly in the currencies we're trading pairs. You know, if, let's say the US is particularly strong, then you might, you know, be buying the GBP/USD, selling the GBP/USD if the US is weak, you might be selling it. You know, it just depends on what's happening. On that particular day. We, over the last week or two have just had some incredible trades, mostly sort of 12 hour time frames down to two hours. The longer time frames have just been a little bit harder to trade, but that's just the way the market is right now. But again, it's understanding what to do and knowing what to do and see a trade take a trade is the crucial aspect there. People switching strategy. So look analysis paralysis causes a problem. It just leads to people to switching strategies. You know, they don't get a strategy or it's not working straight away. So they move on to the next shiny object. And that's a common problem that I see all the time. And of course, what's that doing? Is it leading to inconsistent trading, lack of confidence, lack of making a decent return. You know, you're losing money and you know, you your spouse says to you, look, you just wasting our money and it's just not working. Go and do something else. And and that's the problem that I see time and time and time again. It's just such a common problem. And I get it. Well, it's because people don't, stop to actually, like, invest in themselves. Through their education or their time into trading, learning properly themselves, developing their own strategy, whatever it might be. And it's like anything life isn't that, you know, if you're going to put some time and effort into it, you'll probably do quite well if you think you're just going to wing it and, and fluke it or, you know, find the answer on, you know, on social media, it's probably not going to be a good long term outcome for you. Our strategy has never changed in 17 years. Why I'm saying that. Well, look, we're 17 years old here at The Forex Trading Coach. In a couple of months, it's something we're immensely proud of. And I just wanted to let you know that in that time, the strategy has never changed. And so when I talk about all these issues of the analysis paralysis, you know, whether it be a war going on, A.I. whatever it might be, and that leads to confusion and conflicting information. And clients don't have that. You know, we have a massive community of people right around the world in 111 countries, all looking at the same strategy, the same charts at the same time, or helping each other. We post, trades each day, for our clients to follow our multiple time frame charts and so if a client has a question, we answer it and they know exactly. You know what, we know what they're looking at, and they know what we're looking at because it's the one strategy. But when you think about it, how many people out there, can you say that you can find anywhere online? I challenge you to have a look anywhere online that can say, the course that I'm teaching is identical in terms of the strategy, for close on 17 years. That to me says everything it tells me. And it should tell you that what we're looking for, our strategy is completely, well and truly proven across all markets, timeframes, trading conditions, wars, oil prices going up, oil prices come down, the creation of cryptos, the ability to trade metals and indices, commodities and more forex pairs and it still continues to work. So, I think that really sums up everything you need to know if you're out there looking for someone to give you some help. Because why would you look anywhere else? Everything that we have, created over those 17 years is there to help our clients, trade easily, to have an understanding of what to do. Sure to use our help, especially at the very beginning when the learning, but over time to become independent, successful forex traders without our help. We're not interested in having people year after year after year, you know, being handheld that's not our aim, our aim is to say this is a strategy. It works. Stick with it, understand it, ask questions, use our help. And after a year, you know, six months a year, you're off doing your own thing and really, you know, progressing well, profiting potentially on prop firms, however you want to go with your trading and, and you, you know, you're a happy customer. So, that's it for today. Don't get confused. Don't seek out something that works. Get off. You know, the vast majority of the social media and the A.I. and the signals, learn how to do it for yourself if you really want to become a good trader. Blueberry Markets as a Forex Broker. One last thing. If you're out there looking for a really good broker, I can highly recommend Blueberry Markets over in Australia. They're, you know, they're great people. So many, people who. I've sent them over to them over the years, and all you get is this consistent feedback. You know, great people, great platform, great spreads, withdrawing funds. It's just really easy. I withdraw some funds from an account, just on Friday of last week. By Monday, it was in my account, here in New Zealand from Australia. So great people. Have a look at Blueberry Markets as well. This is Andrew here, The Forex Trading Coach I see this time next week. Bye for now. Episode Title: #627: Why Most Traders Are Completely Confused
]]>https://theforextradingcoach.com/?p=19518Sun, 15 Mar 2026 12:00:39 +0000Andrew Mitchem Why Most Traders Are Completely Confused  Podcast:...https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ 627: Why Most Traders Are Completely Confused
In this video:
00:38 – Information overload.
01:29 – AI predications.
01:53 – I know in my head how to trade.
02:47 – News events moving the markets.
03:46 – People switching strategy.
04:54 – Our strategy has never changed in 17 years.
07:39 – Blueberry Markets as a Forex Broker. Do you suffer from information overload? You know, you see signals out there online. You're not sure what to do. There's so much information, conflicting information. And you just have complete confusion. You don't know what to do, when to do it, and therefore you probably either gamble or give up. If that's you, listen up. The next five minutes is going to be absolutely invaluable information that's going to help change your trading around. Let's get into that more right now. Hey there traders. It's Andrew here at The Forex Trading Coach with video and podcast number 627. Information overload. So today I want to talk about information overload. It's a big problem that people have. You know there's so much information out there online. There's thousands and thousands of indicators. And people seem to think they're going to come up with the Holy grail of indicators. You know, there's massive amount of conflicting information with social media signals. And, you know, there's, other social media, signals saying buy on this pair and at the same time, you're indicators turning down and therefore you think you should be selling, you'll see something on YouTube that says buy. You see something on TikTok that says sell and you'll get something on signal or, you know, telegram that says completely opposite and people just have no idea what to do. And you can see why, because they rely on other people to make that analysis for them, and therefore they really don't know what they're looking for. AI predications. And, you know, the, the other common one that I'm seeing now, of course, is AI predictions. And that, again, you know, while in theory and great AI is going to solve all our problems. Look, AI is going to make us damn lazy. We're not going to have a clue what to do. And if you want to rely on AI, then you know, good luck to you. That's all I can say for me. And I had this discussion with someone just last week. I know in my head how to trade. To me, as a trader, there is nothing better than knowing in my head and in my heart I can see trades, I can take trades. And I've got that information and that powerful information, to be able to do this. You know, for the rest of my life, I want to or however long I want to, and pass that information on to people. And, you know, for people that want to put a bit of time and effort in to figure out this for themselves, then, you know, I think just being able to do this for yourself is massive, and A.I. it's just not going to cut it. I can't see it. It's just not going to have those nuances of those human factors that, you know, we have and can see. Now, sure, I'm not knocking it. And sure there of course there will be a place for it. And, you know, it can help do some analysis in the future and potentially take trades when you're asleep or those type of things. But overall, I think you still need some common sense and knowledge of trading in order to even use A.I., News events moving the markets. News as well. Of course, that's causing massive issues with people right now....]]>496false1fullhttps://www.spreaker.com/episode/626-the-psychology-hack-every-trader-needs--70536678Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free MasterclassYouTube: Dr. David BonannoEnroll to Max DisciplineClick Here to Learn More About Max DisciplineClick Here to Checkout the Book: The Consistently Calm Trader: Master the War Between Discipline 626: The Psychology Hack Every Trader Needs
In this video:
00:17 – Talking about mindset in trading.
00:54 – Dr David Bonanno helps traders.
08:02 – Traders issues with over trading and thinking money!
13:24 – Don’t reinvent the wheel.
16:30 – You don’t need a 90% win rate.
21:40 – You have to love the concept of trading.
25:55 – Traditional forum sites don’t work.
27:50 – Be real with your trading.
30:25 – Contacting Dr Dave. Andrew Mitchem
Hi everybody. It's Andrew here at The Forex Trading Coach. Welcome along to another video and podcast. I'm really pleased today to be joined by Dr. Dave Bonanno over in the US. Dave, welcome along. Nice to have you here. Dr. Dave Bonanno
Thanks. Yeah. Great to be here. Talking about mindset in trading. Andrew Mitchem
Really looking forward to this because quite often in trading we talk about strategy and rules, talking about indicators and charts and things like that. But today we want to bring it back to something that applies to everybody. No matter what type of trading you are, whether your fundamental trade, a technical trade or a mix. And it's really important that you start to understand, your mindset within trading. And that's why, Dr. Dave here today is here. And how he's going to help you and all of us listening and watching with the mental aspect of trading. So, Dr. Dave, maybe you can start about introducing yourself, what you do and how you help traders at that. Dr David Bonanno helps traders. Dr. Dave Bonanno
Okay, great. Yeah. So I started off, as a therapist who is really trying to help people with problems, especially PTSD. And most people don't really know what PTSD is like. If you look it up, there's no definition. It's just a list of symptoms. So the way that I define it now is that it's when you have adrenaline and it just is overactive. And the thing to know is that when you have adrenaline, it makes your logical brain go offline. So I maintain that adrenaline is every trader's enemy, and it doesn't mean that you're in full fight or flight, or that you're afraid or that you're angry. It can affect us in a lot of ways that we're not even really aware of. And so if you like, read other mindset books or listen to other people who talk about the psychology of trading, they talk about changing your thoughts. But what I'm really all about is how to, engage with your subconscious in a way so that it doesn't contaminate what you're doing on a moment by moment basis. Andrew Mitchem
Interesting. So you're taking a slightly different approach to it. So on a like just to get it on the beginning, but to give her some right at the beginning on, on a, on a like a practical basis, someone's out, they're trying to identify a trade setup or they're in a trade maybe. What do you do that could help them with those scenarios? Right. So I had this trader named Tony, and he was really successful in his career, and he wanted to gear up for retirement. And he he was a very logical guy and he could understand intellectually probabilities and all that. But when money was on the line, especially when he was trying to scale or even when he was trying to, take payouts from the prop firms, he would find himself just not quite making the right decisions. So of course, he looked at his strategy and and his, you know, technical skills. But I think what he didn't realize at the time was sometimes adrenaline would get in the way. And and so that could be like if he was putting pressure on himself to provide a financial security for him and his family, or if he couldn't really accept losses all that well, and I'm not even talking about like, yeah, I'm not talking about like throwing a tantrum or anything, but like, his wife would notice that he wasn't in a very good mood after he had a red day. And so, yeah, we we needed to look at what was going on for him subconsciously. And, you know, we all could try to think like, well, you know, I'm pretty much in control of my emotions or I didn't really notice, you know, what was happening for me in the moment. But we're talking about subconscious stuff. And by definition that's what we're not aware of. Andrew Mitchem
Yeah. Dr. Dave Bonanno
So yeah. Yeah. So, yeah, one of the things I do first is I help people to identify, what exactly is going on for them. And it doesn't mean, you know, that we have to go back to the past and blame your parents for everything. Like I was taught to do as a therapist. But we use, eye movements, which is, like EMDR if if people don't know what that is, it's the most researched, intervention for PTSD that there ever was. And I'm sure you probably even know people who've done it. So anyway, that kind of allows us to interface with your emotional brain. So, like, we have two brain systems that are at play at the same time. It's kind of like two TV shows that are superimposed on each other, and you can't just ignore one of them and sometimes I yeah. So sometimes our head and our heart is in sync. But a lot of times it isn't. At least as much as we'd like to think that it is. So yeah, if we can actually like kind of interface with that part of our brain, that's the part that makes our logical brain go offline. So we still do need that emotional part. Like it's sort of like, like, you know, when you're dreaming, then you wake up and your logical brain think so that was crazy. But that's really because the logical brain was out of the way. And it's it's coming on, you know, with your, emotions. So what I'm getting at is, that when you're able to move your eyes, that's what allows you to connect with your heart. It's great for journaling because instead of trying to go back and guess at what you were doing subconsciously, it really kind of helps you to get there. And that's what we did for Tony. Andrew Mitchem
Interesting. And so his results work improved dramatically after some time. Dr. Dave Bonanno
Oh, absolutely. Yeah. He's he's doing awesome now. He just, showed me a picture of a house he wants to buy in Florida, and, he, he needed to help his parents out. And he, he was putting a lot of pressure on himself that he wasn't really quite aware of. And that's going to add adrenaline and, you know, like. Yeah. So like if he if you look at advice from other trading coaches or mindset coaches, they're like, okay, well you have to control your emotions and you have to use your willpower in order to kind of, push them aside and focus on what you need to. Yeah. And that that can work sometimes, but it doesn't work all the time. And if you're telling somebody who's full of adrenaline that they need to calm down, that's kind of like telling somebody who's full of alcohol that they need to be sober. Like it just. Yeah, yeah, yeah. It's yeah, yeah, I know I've tried. But, Yeah. So I think instead of trying to use your willpower and then blaming yourself when you, when it doesn't really work, and then people start to go into a cycle. Right. Like they start to doubt themselves and they start to think, well, maybe I'm a weak person or whatever. And really, I think they're just kind of setting themselves up for failure by expanding, their body and their mind to react in ways that it's not set up for it. Because once again, like when you're in fight or flight, you're but your brain is designed to go offline, like, you know, if you're if you're in the forest and you see a bear or something, you're not supposed to be going through all the, pros and cons of the opposite, like you need to be running away or fighting. It would. Yeah. That's right. Yeah. So that's just how we're built. So. So when we're training and there's like, you know, people can follow their rules, fine. If there's not too much pressure. But when you're scaling up or when you're trying to, make this one being trained, you know, that's going to really help you out. Or if you're trying to get like a good feeling, like if you're if you're a little bit maybe addicted to training, you're doing it to feel good, then it's going to backfire. And then the harder you try, the more you're feeding energy into that negative cycle. Traders issues with over trading and thinking money! Andrew Mitchem
Yeah, that's really interesting. I get a lot of people over the years that come to me and they have this exact issue, and a lot of people, unfortunately, when they get into trading, they they have this mindset. And like I did exactly the same over 20 years ago, you get into it, it's new, it's exciting. You think yo]]>https://theforextradingcoach.com/?p=19482Sun, 08 Mar 2026 13:00:10 +0000Andrew MitchemThe Psychology Hack Every Trader Needs  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free MasterclassYouTube: Dr. David BonannoEnroll to Max DisciplineClick Here to Learn More About Max DisciplineClick Here to Checkout the Book: The Consistently Calm Trader: Master the War Between Discipline 626: The Psychology Hack Every Trader Needs
In this video:
00:17 – Talking about mindset in trading.
00:54 – Dr David Bonanno helps traders.
08:02 – Traders issues with over trading and thinking money!
13:24 – Don’t reinvent the wheel.
16:30 – You don’t need a 90% win rate.
21:40 – You have to love the concept of trading.
25:55 – Traditional forum sites don’t work.
27:50 – Be real with your trading.
30:25 – Contacting Dr Dave. Andrew Mitchem
Hi everybody. It's Andrew here at The Forex Trading Coach. Welcome along to another video and podcast. I'm really pleased today to be joined by Dr. Dave Bonanno over in the US. Dave, welcome along. Nice to have you here. Dr. Dave Bonanno
Thanks. Yeah. Great to be here. Talking about mindset in trading. Andrew Mitchem
Really looking forward to this because quite often in trading we talk about strategy and rules, talking about indicators and charts and things like that. But today we want to bring it back to something that applies to everybody. No matter what type of trading you are, whether your fundamental trade, a technical trade or a mix. And it's really important that you start to understand, your mindset within trading. And that's why, Dr. Dave here today is here. And how he's going to help you and all of us listening and watching with the mental aspect of trading. So, Dr. Dave, maybe you can start about introducing yourself, what you do and how you help traders at that. Dr David Bonanno helps traders. Dr. Dave Bonanno
Okay, great. Yeah. So I started off, as a therapist who is really trying to help people with problems, especially PTSD. And most people don't really know what PTSD is like. If you look it up, there's no definition. It's just a list of symptoms. So the way that I define it now is that it's when you have adrenaline and it just is overactive. And the thing to know is that when you have adrenaline, it makes your logical brain go offline. So I maintain that adrenaline is every trader's enemy, and it doesn't mean that you're in full fight or flight, or that you're afraid or that you're angry. It can affect us in a lot of ways that we're not even really aware of. And so if you like, read other mindset books or listen to other people who talk about the psychology of trading, they talk about changing your thoughts. But what I'm really all about is how to, engage with your subconscious in a way so that it doesn't contaminate what you're doing on a moment by moment basis. Andrew Mitchem
Interesting. So you're taking a slightly...]]>2060false1fullhttps://www.spreaker.com/episode/625-stop-watching-charts-all-day-this-is-why-you-re-losing--70373493Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #625: Stop Watching Charts All Day (This Is Why You’re Losing)
In this video:
00:35 – These things will destroy you as a trader.
01:51 – Mistakes that most traders make during the journey.
02:55 – The perfect chart to trade.
03:46 – Look at 5pm EST for multiple chart opportunities.
05:15 – Don’t burn out.
05:58 – View my Masterclass.
06:30 – Blueberry Markets as a Forex Broker.
07:21 – Contact me for help. If you're watching the charts all day. Taking multiple trade today and you're not consistent, then this video is for you. You see, it's not always the strategy. It's not your indicators. It's not your broker's fault. It's a screen addiction. So if that's you, listen up. I've got some really good information to share with you. Hey there traders! This is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 625. These things will destroy you as a trader. And in today's video I'm going to talk about why trading the shorter time frame charts and screen addiction and over trading will destroy you as a trader. It's going to destroy you in many ways. It's going to destroy your confidence. It's going to destroy your time with your family or whatever else you do with your day. And it's a common problem. You see, the issue is that most people think that they need to be trading all the time, and therefore they get onto the shorter timeframe charts, generally one hour or below. Most people that they're trading say, 15 minute charts, five minute charts or even one minute charts and it's completely crazy. And it comes about from that, lack of understanding, that lack of mindset of, of well, the people think that they have to trade more to make more money. And it's just is not true. All you're going to do is completely put yourself off trading, tie yourself out emotionally, physically, and you're just going to end up paying lots of money to your broker because you're paying lots of entry fees to take trades. You'll end up doing silly things like revenge trading and, you know, scaling up stupid position lot sizes, etc. and, and just making complete silly mistakes and losses. Mistakes that most traders make during the journey. The good thing is, though, is that we've all been there, we've all done it. We've all made those mistakes. And I've been trading for over 20 years, and I can tell you I've made every mistake there is out there. The good thing is the solution is fairly straightforward. And it's generally to get on to the longer timeframe charts. And I would say that something like generally a 4 hour chart or higher, the daily charts, if you've been following me for any length of time, have always been my preferred timeframe chart, because it means you just need to look once a day. It doesn't matter where you live in the world, you can look at your charts. One today. Very easy to do. It still gives you plenty of trading opportunities. You know, the downside with, say, like the weekly charts or the monthly charts, although they can be very, very good, is that, you know, you only potentially might have an opportunity to trade, say, once a week, obviously once a month. And sometimes there may be nothing on those timeframe charts. And so it becomes a long and wait in between trades. The perfect chart to trade. To me, the daily timeframe just offers the perfect mix of everything. It means I can look through so many different charts. I can be very specific. If they say as an example, strength in the British pound, I can then go through and find the best set ups, that are buying the pound against maybe some of the weaker currencies. And, you know, you can look through the charts once a day and make those very, you know, refined, trading opportunities sort of out there you're not rushing to do things, especially the way that we trade as well when we're using limit orders as well. And so I just find that that is such a great opportunity to look through forex pairs, non forex pairs as well. Because you know, we look through metals and commodities and cryptos indices etc. like that as well as just the daily charts. Look at 5pm EST for multiple chart opportunities. And the beauty is, is that if you are looking at your charts on the daily timeframe, you can, go through that exact same timeframe and scale down as well and give yourself opportunities on charts such as like 12 hour charts, 8 hour, 6 hour, etc. and they all change over at the exact same time, which is New York, 5:00 pm. Now you will notice that the spreads at that time of the day can be quite large, and so don't take trades until at least 6:00 pm. Don't place the trades until at least 6 p.m. New York time. Now, if you're in, let's say, Europe, that could be quite late at night for you. That's fine. Place the trades in your morning. You don't have to be up at like, midnight to place those trades. Wait till the morning and you'll find that most times, especially the way that we trade with limit orders, if you're, say, taking buy limit orders, first of all, you're looking for the market to first fall anyway before it fills your buy limit order. Now for you in let's say Europe, when that's early hours of your morning, you know, sort of breakfast time. Let's say you can place your trades in and very rare occasion, you're going to find that the trades taken off without first retracing. So almost no time are you going to miss out on those trades if you take them multiple hours later? Likewise, if you leave this side the world, Australia, New Zealand, you say, well, Andrew, I'm at work all day. I can't take my trades to 5:06 p.m. at night. That's absolutely fine. It's the same time, you know, it's European morning. Look at taking your trades there. Don’t burn out. So that would be my suggestion. Enjoy your trading. You know, this is why, after 20 years, I'm still loving doing what I'm doing. It's because one, it works, but two, I'm not burned out by just chart watching and trigger happy on the, you know, on the on the mouse and the keyboard all the time. You place your trades, you know your risk. You know the very worst that you can do per trade because you have control and low risk. You know your profit target, let the market do its thing and enjoy your trading, and you will become far more happier when you're trading far more profitable, far better as a person because you're not grumpy, because you had to glue to the charts or the trades are going against you. You're not stressed, you're relaxed, you're enjoying your trading, you're thinking sensibly, and the results will be far, far better. View my Masterclass. So if you'd like to find out how we do that, I'll put a link here to our masterclass where you can jump on and, and see what we do. By the way, in, early March, we're looking at taking on just a small number of extra clients. We got a lot of people joining us in March, but there are just a few spaces available. I'll put a link, to joining us as well. There's just a handful of spaces right now as I'm recording this available for the early March intake. So don't miss out if you'd like to take your trading to that next level and become a good, profitable trader. Blueberry Markets as a Forex Broker. If you are out there looking for a broker, I can highly recommend Blueberry Markets. Their MT5 platform especially just has so many markets on there. As mentioned, forex and non-forex markets and really good tight spreads as well. So I'll put a link to Blueberry Markets there. If you're out there looking for a good broker, there's obviously so many choices of brokers and it can become a bit of a minefield. I've dealt with Blueberry for many, many years. Their staff are just incredible. Fund withdrawals at a super fast and spreads and available markets are huge. So spreads are not huge. Spreads are tight, available markets are huge. I just want to get that bit right. Just so I didn't make any. Yeah. Errors there. Their spreads are really, really good. Lots of markets available. So, have a look at Blueberry Markets as well. Contact me for help. Any questions you have any topics you'd like me to discuss? Forex related to help you out? Just drop me an email. Andrew@TheForexTradingCoach.com
I reply to all emails personally as well. I'll see you this time next week. Bye for now. Episode Title: #625:Stop Watching Charts All Day (This Is Why You’re Losing)
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=19467Sun, 01 Mar 2026 12:00:08 +0000Andrew MitchemStop Watching Charts All Day (This Is Why You’re Losing)  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #625: Stop Watching Charts All Day (This Is Why You’re Losing)
In this video:
00:35 – These things will destroy you as a trader.
01:51 – Mistakes that most traders make during the journey.
02:55 – The perfect chart to trade.
03:46 – Look at 5pm EST for multiple chart opportunities.
05:15 – Don’t burn out.
05:58 – View my Masterclass.
06:30 – Blueberry Markets as a Forex Broker.
07:21 – Contact me for help. If you're watching the charts all day. Taking multiple trade today and you're not consistent, then this video is for you. You see, it's not always the strategy. It's not your indicators. It's not your broker's fault. It's a screen addiction. So if that's you, listen up. I've got some really good information to share with you. Hey there traders! This is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 625. These things will destroy you as a trader. And in today's video I'm going to talk about why trading the shorter time frame charts and screen addiction and over trading will destroy you as a trader. It's going to destroy you in many ways. It's going to destroy your confidence. It's going to destroy your time with your family or whatever else you do with your day. And it's a common problem. You see, the issue is that most people think that they need to be trading all the time, and therefore they get onto the shorter timeframe charts, generally one hour or below. Most people that they're trading say, 15 minute charts, five minute charts or even one minute charts and it's completely crazy. And it comes about from that, lack of understanding, that lack of mindset of, of well, the people think that they have to trade more to make more money. And it's just is not true. All you're going to do is completely put yourself off trading, tie yourself out emotionally, physically, and you're just going to end up paying lots of money to your broker because you're paying lots of entry fees to take trades. You'll end up doing silly things like revenge trading and, you know, scaling up stupid position lot sizes, etc. and, and just making complete silly mistakes and losses. Mistakes that most traders make during the journey. The good thing is, though, is that we've all been there, we've all done it. We've all made those mistakes. And I've been trading for over 20 years, and I can tell you I've made every mistake there is out there. The good thing is the solution is fairly straightforward. And it's generally to get on to the longer timeframe charts. And I would say that something like generally a 4 hour chart or higher, the daily charts, if you've been following me for any length of time, have always been my preferred timeframe chart, because it means you just need to look once a day. It doesn't matter where you live in the world, you can look at your charts. One today. Very easy to do. It still gives you plenty of trading opportunities. You know, the downside with, say, like the weekly charts or the monthly charts, although they can be very, very good, is that, you know, you only potentially might have an opportunity to trade, say, once a week, obviously once a month. And sometimes there may be nothing on those timeframe charts. And so...]]>458false1fullhttps://www.spreaker.com/episode/624-the-smarter-way-to-pick-winning-stocks--70211614Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free MasterclassCheckout the Tykr Platform here. #624: The Smarter Way To Pick Winning Stocks
In this video:
00:14 – Sean Tepper – found of TYKR
04:55 – How does this software help?
08:50 – TFTC also helps create successful traders
12:25 – Is social media helpful?
16:20 – Multiple brokers or one?
22:18 – TFTC creating a trading bot program
28:16 – 60,000 stocks analyzed
32:45 – Contact Sean Andrew Mitchem
Hello, everybody. It's Andrew Mitchem here at The Forex Trading Coach. And today I'm really pleased to be joined by Sean Tepper, who's the founder and the CEO of Tykr. Welcome along. Sean. Sean Tepper
Andrew. Good to be here. Andrew Mitchem
Awesome to have you. Sean, could you introduce yourselves to everybody and let us know who you are and what you do and what we're going to talk about? Sean Tepper – found of TYKR Sean Tepper
Sure. Yeah. My name is Sean Tepper. I'm the founder of TYKR, as Andrew said. And long story short, TYKRs a platform that helps people buy and sell stocks with confidence prior to that. My background is about 20 years in tech, 15 years investing, and I kind of created TYKR as a solution to a frustration in the markets. Sean Tepper
And we could dive into what that frustration is, if you'd like. Yeah. But yeah, I had to create a solution because it was very hard to make decisions when I first got started. And that's where really TYKR came from. And, but yeah, fast forward to today. We've got a little over, 13,000 customers in about 50 countries, including where you're based. Sean Tepper
New Zealand. Andrew Mitchem
Oh that's good. Yeah. So you had 50 countries. That's a that's an awesome effort. And, and Sean, I was reading about, you know, you started, on your website says, in, you know, 2011 to 2015, you were trying to figure out what wasn't there to help you. What did you find back then? Was the biggest frustration that led to TYKR happening? Sean Tepper
Yeah. So when I first got started, you know, I think I joined E-Trade. And, you know, there's so many brokers these days, it's hard to keep track of. But as soon as I joined, I had no idea what to do next. So I started going on YouTube researching where do you go to invest? Like looking up different investing platforms? Sean Tepper
I found a few of our competitors, like Seeking Alpha and Motley Fool, and they do a fine job, but it's still very difficult to truly know the difference between a strong stock and a weak stock is is very frustrating. And for context, my background is in tech, but to go, layer deeper, it's actually in process engineering. Sean Tepper
Like I've worked a lot for GE and Koehler. And the rule is in process engineering, if you have 100 data points, you cannot present that to a customer or an executive. You have to roll it up to ideally a binary decision like yes or no or a traffic light. And I was complaining at that time, like, am I the only one complaining about the fact that there's no process engineering lens layered over investing like, this is insane. Sean Tepper
Like nobody's making it easy. And that was kind of the green light I was thinking of, like, hey, if I could figure something out here, I think the big solution is a create a process engineering solution in the world of finance and apparently I'm the only one really doing that today, other than the few platforms that say buy or sell. Sean Tepper
But I don't really recommend that. But yeah, that was that was the beginning. And it took about a year to build this Excel sheets. And I give you context here, I found a lot of inspiration from Phil Towne. He wrote a few books on value investing. Do you know Phil Towne? Andrew Mitchem
No, I don't know. No. Okay. Sean Tepper
Your your audience may be interested. He wrote a book. One of them is rule one. The other one is payback time. I really provided some. Yeah, yeah. You know, rule one investing, Warren Buffett. We can talk about that. But, yeah, I, I found some of the calculus in his books, put it into Excel, and I ended up coming up with about 50 data points to analyze the stock. Sean Tepper
And then on top of that, I created a traffic like rating system where stocks are either on sale, watch or overpriced. That's green, gray or red. And I used it the next 4 or 5 years on my own, making returns between 15 and 50%, and my returns still fall in that range today. Our customers actually fall in that range as well. Sean Tepper
But yeah, I, I wanted to make sure I'm using my own money testing it to make sure it works, not just like four weeks or four months. I went like that over four years. And then it was 2019 was the inflection point when I'm like, I think I've got a solution here, but let's just confirm. Sent the sheet to a few of the retail investors and everybody's like, I'm not going to use this Excel sheet. Sean Tepper
This is insane. You got to create a software. So that right. That was the green light. Let's go create a SaaS platform. And took a year to build the first version. And the first version was not pretty. But yeah, fast forward to today. That's where we're at. But yeah. Andrew Mitchem
They Nimrod when you look back on them. Sean Tepper
Yeah, right. It was like the, the metaphor I use is it felt like I was building a physical prototype made of like, and duct tape and cardboard. It was not pretty videos. It's pretty ugly. But you get feedback from your customers and you just keep making it better, and it actually turns into something. How does this software help? Andrew Mitchem
So, yeah, awesome. That's brilliant. So fast forward then to today. Why would someone come and use what you have and I suppose in a practical basis, how does it help them? What are they. What do they input? What do they use to make decisions for them? Sean Tepper
Sure. Yeah. So I'll give you some of the the subjective reasons and then we'll get into the objective and why that's actually important to our, our broker partners. But our rating system again process engineering, it doesn't sound very glamorous, but the concept of making decisions very easy for people, it is very true in most industries. So we we use the process engineering lens. Sean Tepper
Plus we take a lot of inspiration from Duolingo for language learning in our opinion. Like what? They've got over 600 million users. They're doing something right. We're teaching people how to learn a language with these micro learning modules. And I'm like, we need to do the same thing in our platform, but it's got to be investing focused. So we've got these modules peppered around that quickly teaches people how to invest in you put the two together, the rating system, plus the simplified education that helps people. Sean Tepper
And it's not our guarantee, but it's it's something we let people know upfront that 90% of customers is actually over 90. But we say 90% of customers that use TYKR are able to go from a beginner to confident an investor in 14 days or less. It's very quick. Wow. And what does that mean from an objective standpoint? And this is what matters most to brokers, which is most brokers we're talking to have two big problems. Sean Tepper
And number one, very little transaction volumes, like somebody will join on day one and they'll wait three months or six months or nine months, and then make another trade. And the other issue is the average account size is less than 5000. While with TYKR after five years. Now we're we track like a lot of data points to see our, investors behavior. Sean Tepper
And typically people make 30% more transactions after joining TYKR. And their average account size is about $180,000. So what that tells us is and it tells. Right. So these people are their confidence is skyrocketing and they're adding more money from their checking account or their savings. So it's not sitting in a low interest vehicle. So so there you go. Sean Tepper
That's how we're different. I'll give you one more way where different in your audience may appreciate this is TYKRs. Calculations are actually open source for personal use. And the SEC really likes that. Like we had an audit done to make sure we fall in that publisher exclusion category. We could talk about that in a minute, but making sure we're not we're not giving financial advice, but this firm we're talking to and we had another we're actually had two firms. Sean Tepper
Take a look. They were both very impressed that we we put those calculations out and I'm like, I'm, I'm actually not concerned anybody's going to take it because it's even though it's relatively simple math, it's a lot of it. And try to put together in a software what would take you a really long time. So fortunately nobody's tried to duplicate it. Sean Tepper
But the calculations are out there. Andrew Mitchem
Yeah, well, for the sake, I was looking on your your purchase, page. Your pricing page. For the sake of $50 a month, you just use it. Wouldn't you? Rather than trying to reinvent it or. Sean Tepper
It exact right at the b]]>https://theforextradingcoach.com/?p=19442Sun, 22 Feb 2026 12:00:51 +0000Andrew MitchemThe Smarter Way To Pick Winning Stocks  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free MasterclassCheckout the Tykr Platform here. #624: The Smarter Way To Pick Winning Stocks
In this video:
00:14 – Sean Tepper – found of TYKR
04:55 – How does this software help?
08:50 – TFTC also helps create successful traders
12:25 – Is social media helpful?
16:20 – Multiple brokers or one?
22:18 – TFTC creating a trading bot program
28:16 – 60,000 stocks analyzed
32:45 – Contact Sean Andrew Mitchem
Hello, everybody. It's Andrew Mitchem here at The Forex Trading Coach. And today I'm really pleased to be joined by Sean Tepper, who's the founder and the CEO of Tykr. Welcome along. Sean. Sean Tepper
Andrew. Good to be here. Andrew Mitchem
Awesome to have you. Sean, could you introduce yourselves to everybody and let us know who you are and what you do and what we're going to talk about? Sean Tepper – found of TYKR Sean Tepper
Sure. Yeah. My name is Sean Tepper. I'm the founder of TYKR, as Andrew said. And long story short, TYKRs a platform that helps people buy and sell stocks with confidence prior to that. My background is about 20 years in tech, 15 years investing, and I kind of created TYKR as a solution to a frustration in the markets. Sean Tepper
And we could dive into what that frustration is, if you'd like. Yeah. But yeah, I had to create a solution because it was very hard to make decisions when I first got started. And that's where really TYKR came from. And, but yeah, fast forward to today. We've got a little over, 13,000 customers in about 50 countries, including where you're based. Sean Tepper
New Zealand. Andrew Mitchem
Oh that's good. Yeah. So you had 50 countries. That's a that's an awesome effort. And, and Sean, I was reading about, you know, you started, on your website says, in, you know, 2011 to 2015, you were trying to figure out what wasn't there to help you. What did you find back then? Was the biggest frustration that led to TYKR happening? Sean Tepper
Yeah. So when I first got started, you know, I think I joined E-Trade. And, you know, there's so many brokers these days, it's hard to keep track of. But as soon as I joined, I had no idea what to do next. So I started going on YouTube researching where do you go to invest? Like looking up different investing platforms? Sean Tepper
I found a few of our competitors, like Seeking Alpha and Motley Fool, and they do a fine job, but it's still very difficult to truly know the difference between a strong stock and a weak stock is is very frustrating. And for context, my background is in tech, but to go, layer deeper, it's actually in process engineering. Sean Tepper
Like I've worked a lot for GE and Koehler. And the rule is in process engineering, if you have 100 data points, you cannot present that to a customer or an executive. You have to roll it up to ideally a binary decision like yes or no or a traffic light. And I was complaining at that time, like, am I the only one complaining about the fact that there's no process engineering lens layered over investing like, this is insane. Sean Tepper
Like nobody's making it easy. And that was kind of the green light...]]>2036false1fullhttps://www.spreaker.com/episode/623-trade-the-markets-from-anywhere-in-the-world--70068577Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #623: Trade the Markets From Anywhere in the World
In this video:
00:27 – On holiday in Christchurch.
00:41 – My trading day remains the same even when travelling.
01:45 – My trades today.
02:30 – Using limit orders to place trades when it suits you.
04:23 – Massive moves in the market.
05:05 – Get on my Masterclass
05:25 – Blueberry Markets as a Forex Broker. Would you like to trade and travel at the same time? There's not many other opportunities that allow you to make money, carry on with your normal work, and travel. So let's talk about that really important topic and more right now. Hey there Traders! This is Andrew here The Forex Trading Coach with video and podcast number 623. On holiday in Christchurch. I'm in Christchurch in the South Island here of New Zealand. Been here for a few days with my wife. We went to see a show last night. Caught up with one of our daughters who lives here, and we're having a great time. Middle of summer. Absolutely beautiful here with the River Avon behind me. My trading day remains the same even when travelling. Now, with being here, trading has carried on exactly the same for me. I've just taken the daily chart trades today. It's just turned 11:00 here, and my trading is exactly the same as if I were at home. And that is one of the beauties of being able to trade properly and to trade the way that we trade. I see so many different people on YouTube and different social media sites where they're looking for this pattern to happen and they're looking for this indicator to cross that one and they're looking at, say, like 5 minute charts and 15 minute charts. And to me, it's just not realistic. As someone that's been trading for over 20 years and this year The Forex Trading Coach turned 17 years old, one of the things that I find that our clients love about what we do, and also for myself personally, about what we do, is it's still thoroughly enjoyable and profitable, but we're not spending all day looking at charts. My trades today. So right now, I've just looked at one daily chart and one 12 hour chart trades at the 5:00 pm New York change of day, which just happens to be 11:00 in the morning here at this time of year. And then that's it. My trades are done. I will have a look at maybe 5 a.m. New York time, which is tonight. But for people that can't make the 5 p.m. New York time, it doesn't matter. Because the beauty of the way that we trade is we are using limit orders. And so you don't need to be here at this particular time. And when you're traveling, that is so important because obviously different time zones and you've got different events on and things like that. Using limit orders to place trades when it suits you. The way that we trade means that you can put your limit orders on when you get a chance and just leave the trade to do its thing. We have our maximum loss already controlled, so we know the worst that can happen. For me personally, it's only half a 1% risk per trade, but it also means that if we have a profitable trade on the daily chart today, I'm going to make close to a 3 to 1 return. So in other words, half a percent risk, I will make a 1.5% gain on my account. Now, the beauty of that is you can do that. You can put that across to prop firms, whatever it is that you choose to do, whether it's your personal account, live account, or prop firm account, and it's just that one trade taken once a day. And that's the beauty. For me to trade today, because of course I'd be taking the 12 hour chart trade as well, but I don't have to place the trades right now. I've got hours and hours to place the trades. And so if you're in Europe, you see how well the changeover of the new day is night time. Well, you can take those trades in the morning. It doesn't matter. You can say, well, I've got work to do. I've got things with the family. Take the trades when you get a chance. And because, as mentioned, we use limit orders. And if we're taking a sell trade where our sell limit is there, the market first needs to move up and that fills the sell limit order. And then we're looking for the market to move down. Opposite with the buy trade is that we're looking for the market to first move down. And then the daily chart or the 12 hour chart, you've got hours and hours before the market will do that on most occasions. So if you'd like to find out how we do this, how we travel and trade, last year in the US, and this year we're looking at heading away as well in our winter. And so trading, as mentioned, carries on exactly the same. Massive moves in the market. There's been some massive moves in the market again this week. So great opportunities to be taking advantage of those moves across the forex pairs, the metals, and the cryptos. We've seen huge moves. So it's been a great week. And nothing better than trading just once or twice a day. Be on holiday, enjoy the great scenery here and the events on in Christchurch. And trading carries on exactly the same. So if you'd like to find out how we can do that and how we can help you to do exactly the same, whether you want to travel or just work or do other things at the same time, that doesn't mean you're committed to being glued in front of your charts all day long like so many other people and systems are. Get on my Masterclass Have a look at the link I'll put here. Have a look at the masterclass that I've got here as well. If you've never been through the videos and podcasts just like this, the whole library is there, all 623 of them. Blueberry Markets as a Forex Broker. And if you're out there looking for a really good broker, I can highly recommend Blueberry Markets. Of course, they’re from Australia, but people from right around the world can trade through Blueberry Markets on their MT5 platform. I've just taken my trades today on the Blueberry account, and the spreads are exceptional and market execution is great. Everything about them is great. Their customer service is great. Withdrawing funds is super fast and efficient as well. So I’ve put a link to Blueberry Markets as well. And I'm off to enjoy the beautiful sights here in the middle of summer in Christchurch. And I'll see you this time next week. Bye for now. Episode Title: #623: Trade the Markets From Anywhere in the World
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=19418Sun, 15 Feb 2026 14:00:44 +0000Andrew MitchemTrade the Markets From Anywhere in the World  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #623: Trade the Markets From Anywhere in the World
In this video:
00:27 – On holiday in Christchurch.
00:41 – My trading day remains the same even when travelling.
01:45 – My trades today.
02:30 – Using limit orders to place trades when it suits you.
04:23 – Massive moves in the market.
05:05 – Get on my Masterclass
05:25 – Blueberry Markets as a Forex Broker. Would you like to trade and travel at the same time? There's not many other opportunities that allow you to make money, carry on with your normal work, and travel. So let's talk about that really important topic and more right now. Hey there Traders! This is Andrew here The Forex Trading Coach with video and podcast number 623. On holiday in Christchurch. I'm in Christchurch in the South Island here of New Zealand. Been here for a few days with my wife. We went to see a show last night. Caught up with one of our daughters who lives here, and we're having a great time. Middle of summer. Absolutely beautiful here with the River Avon behind me. My trading day remains the same even when travelling. Now, with being here, trading has carried on exactly the same for me. I've just taken the daily chart trades today. It's just turned 11:00 here, and my trading is exactly the same as if I were at home. And that is one of the beauties of being able to trade properly and to trade the way that we trade. I see so many different people on YouTube and different social media sites where they're looking for this pattern to happen and they're looking for this indicator to cross that one and they're looking at, say, like 5 minute charts and 15 minute charts. And to me, it's just not realistic. As someone that's been trading for over 20 years and this year The Forex Trading Coach turned 17 years old, one of the things that I find that our clients love about what we do, and also for myself personally, about what we do, is it's still thoroughly enjoyable and profitable, but we're not spending all day looking at charts. My trades today. So right now, I've just looked at one daily chart and one 12 hour chart trades at the 5:00 pm New York change of day, which just happens to be 11:00 in the morning here at this time of year. And then that's it. My trades are done. I will have a look at maybe 5 a.m. New York time, which is tonight. But for people that can't make the 5 p.m. New York time, it doesn't matter. Because the beauty of the way that we trade is we are using limit orders. And so you don't need to be here at this particular time. And when you're traveling, that is so important because obviously different time zones and you've got different events on and things like that. Using limit orders to place trades when it suits you. The way that we trade means that you can put your limit orders on when you get a chance and just leave the trade to do its thing. We have our maximum loss already controlled, so we know the worst that can happen. For me personally, it's only half a 1% risk per trade, but it also means that if we have a profitable trade on the daily chart today, I'm going to make close to a 3 to 1 return. So in other words, half a percent risk, I will make a 1.5% gain on my account. Now, the beauty of that is you can do that....]]>357false1fullhttps://www.spreaker.com/episode/622-massive-market-moves-most-traders-miss-completely--69874074Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #622: Massive Market Moves Most Traders Miss Completely
In this video:
00:28 – Massive market moves recently on Metals and Cryptos.
01:08 – Did you miss out on making money from these moves?
02:15 – Why I don't look at the news.
03:00 – Why trading is not risky.
04:18 – My Masterclass webinar.
04:46 – Blueberry Markets as a Forex Broker.
05:25 – Contact me. We have seen some massive market moves over the last few days and few weeks. Hopefully you've gained from those and if you haven't, you need to watch this video. Let's get into that a more right now. Hey there traders. It's Andrew Mitchem here at The Forex Trading Coach with weekly video and podcast number 622. Massive market moves recently on Metals and Cryptos.    Well the moves have been enormous haven't they. If you've been looking at like Bitcoin. Bitcoin was $126,000 just 17 days ago. Then it dropped to $72,000, a huge drop. Did you get some of that? Silver, $121. Just three days ago, then dropped to $71 just in three days. Huge. Did you get some of that? Gold. $5,500 just three days ago. Right now, $4,400 in three days. Again. Incredible moves. Hopefully you got some of that movement. Did you miss out on making money from these moves? And if you didn't, you need to be asking some questions. Because if you go and have a look at, say, the gold and silver, have a look at the daily chart and you'll see at the top of a very, very large uptrend on both markets there was suddenly a huge indecision candle. It was the early warning signal for us as technical traders that things were coming to an end. The bullish run was coming to an end and look what we saw. Now, sure, not many people could have seen such a massive drop in just such a short amount of time. That's not really the point. The point is that if you had seen that indecision candle and you still had some buy positions in, probably a good time to start looking at, getting out of them or closing part of your positions. Likewise, if you're looking for selling opportunities, well, that indecision candle gave you the first decision or early warning that things were about to tip over. But now here we are just a few days later. Now we're looking at buying opportunities again right now, today on multiple gold pairs as well, and a few of the silver pairs as well. And that just comes about from understanding and reading candles. Why I don't look at the news. So if you are out there trying to decipher why these things happen, looking at news, trading and trying to work out all why's gold and silver suddenly going up and up and up and then suddenly crash? Why is Bitcoin done the same? For me personally, as someone that's been trading the markets for over 20 years as a full time trader, I don't look at the news. Yes, I have a look to see what's happening. I'm aware of what's coming up, that type of thing, purely for knowledge. But does it influence my trading? Not one bit. The reason is, is I can tell everything I need to know to make good, smart, reliable decisions from looking at the charts now that, is applied across all markets and all timeframe charts, and that is where I think we have such an edge in our trading now. Why trading is not risky. A lot of people will look at those massive drops and go, oh my goodness, you know, that's so risky. You know, I could have bought silver $121 and then it dropped to 72. It's so risky. I can't do that. And the point is, is that once you understand risk and you have low and controlled risk on every trade, you're not making those massive losses. You know, you just if you know what you're doing and risk is such an important part of trading or controlling it, both helps your emotions and your bank account. You need to keep your risk low and controlled and equal on every trade. And so all that is happening with those massive drops is it was giving us against the massive uptrends great opportunities to take sell positions on those golds and silvers and bitcoins, etc. over the last little while. Now we're seeing pullbacks and now we're seeing bounces at previous lows, and now we're seeing the candle patterns that are starting to turn bullish in the right part of the chart to give us like opportunities to start buying those markets again and picking up those uptrends that are likely now to follow with the bigger picture uptrend after a pullback. And so that's what I call a continuation trade. And that's why right now today we're about to take some certainly some gold trades and a couple silver trades. Buying them back up again. My Masterclass webinar. So if you're out there either getting scared of these big moves or not knowing how to take advantage of them, I really suggest that you spend 30 minutes and jump onto my masterclass. I'll put the link to that here if you've not already been on it. And have a look at what we can help our traders with. Whether it's trading by yourself, trading on a prop firm, whatever it is that you wish to do in order to look after your financial future, but also have the knowledge to know what to do. Blueberry Markets as a Forex Broker. If you are out there looking for a high quality broker, I can highly recommend Blueberry Markets. They're based in Australia and almost everybody, anywhere in the world can open an account with them. They offer, the MT5 trading platform, awesome platform. You know, Metatrader is still one of the most, popular trading platforms. It's free to use. Sure. When you get the demo, it's a bit clunky and a little bit kind of like strange looking, but you add a few templates and a few indicators, like we provide, and everything's just awesome. Simple to use. And I can highly recommend, the MT5 platform, with Blueberry Markets. And I've a link to them as well. Contact me. If you have any questions about today's topic or any, conversations, topics, questions that you have for me that you'd like me to cover in future videos and podcasts like this, just send me an email to Andrew@TheForexTradingCoach.com And they do come through to me and I do answer them all personally. If you're out there, trying to figure out when to trade, look at the candle close, it's the only way you can really trade. If you're a technical trader. And it just means you know when to look at your charts. And if you're watching this video, you see the incredible day we've got here in New Zealand and the incredible scenery that we have here. You don't need to be glued to the charts. People that get glued to the charts and look at like, five minute charts and 15 minute charts. Probably not a great idea. Trade less, take high quality trades and enjoy your life. That's what we do, and that's what we can help you to do the same. Any questions? Reach out to me and, I'll see this time next week. Bye for now. Episode Title: #622: Massive Market Moves Most Traders Miss Completely
Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=19405Sun, 08 Feb 2026 14:00:44 +0000Andrew MitchemMassive Market Moves Most Traders Miss Completely  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #622: Massive Market Moves Most Traders Miss Completely
In this video:
00:28 – Massive market moves recently on Metals and Cryptos.
01:08 – Did you miss out on making money from these moves?
02:15 – Why I don't look at the news.
03:00 – Why trading is not risky.
04:18 – My Masterclass webinar.
04:46 – Blueberry Markets as a Forex Broker.
05:25 – Contact me. We have seen some massive market moves over the last few days and few weeks. Hopefully you've gained from those and if you haven't, you need to watch this video. Let's get into that a more right now. Hey there traders. It's Andrew Mitchem here at The Forex Trading Coach with weekly video and podcast number 622. Massive market moves recently on Metals and Cryptos.    Well the moves have been enormous haven't they. If you've been looking at like Bitcoin. Bitcoin was $126,000 just 17 days ago. Then it dropped to $72,000, a huge drop. Did you get some of that? Silver, $121. Just three days ago, then dropped to $71 just in three days. Huge. Did you get some of that? Gold. $5,500 just three days ago. Right now, $4,400 in three days. Again. Incredible moves. Hopefully you got some of that movement. Did you miss out on making money from these moves? And if you didn't, you need to be asking some questions. Because if you go and have a look at, say, the gold and silver, have a look at the daily chart and you'll see at the top of a very, very large uptrend on both markets there was suddenly a huge indecision candle. It was the early warning signal for us as technical traders that things were coming to an end. The bullish run was coming to an end and look what we saw. Now, sure, not many people could have seen such a massive drop in just such a short amount of time. That's not really the point. The point is that if you had seen that indecision candle and you still had some buy positions in, probably a good time to start looking at, getting out of them or closing part of your positions. Likewise, if you're looking for selling opportunities, well, that indecision candle gave you the first decision or early warning that things were about to tip over. But now here we are just a few days later. Now we're looking at buying opportunities again right now, today on multiple gold pairs as well, and a few of the silver pairs as well. And that just comes about from understanding and reading candles. Why I don't look at the news. So if you are out there trying to decipher why these things happen, looking at news, trading and trying to work out all why's gold and silver suddenly going up and up and up and then suddenly crash? Why is Bitcoin done the same? For me personally, as someone that's been trading the markets for over 20 years as a full time trader, I don't look at the news. Yes, I have a look to see what's happening. I'm aware of what's coming up, that type of thing, purely for knowledge. But does it influence my trading? Not one bit. The reason is, is I can tell everything I need to know to make good, smart, reliable decisions from looking at the charts now that, is applied across all markets and all timeframe charts, and that is where I think we have such an edge in our trading now. Why trading is not risky. A lot of people...]]>383false1fullhttps://www.spreaker.com/episode/621-master-trading-discipline-and-consistency--69722473Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #621: WMaster Trading Discipline and Consistency
In this video: 00:25 – The mental side of trading well.   
00:49 – Tom’s background. 
02:40 – You don’t need to be perfect. 
06:34 – Ideas for new traders. 
09:25 – AI and the future as a trader. 
14:25 – Closing the trade early for profit.
16:52 – False results from gurus online.
19:50 – Trading and stress.
23:14 – Andrew looking at D1 charts in a few minutes.
26:25 – People need support and community. Andrew Mitchem
Hi everybody. It's Andrew Mitchem here at the Forex Trading Coach. Welcome to another video on podcast. I'm really excited today to be joined by Tom Winterstein, who is a certified mental performance coach and trader over in the US. Welcome a long time. Nice to see you Tom Winterstein
Great. Thank you. Great to be here. The mental side of trading well.    Andrew Mitchem
Tom, look, I think we've got a lot of great information that we're going to help people with on this, video on podcast. Because we were just chatting about the mental aspect of trading and how it's something we're both huge on, but it's something that most people just completely overlook in their trading, especially if they're new. Andrew Mitchem
So maybe you can give us a bit of background on yourself and that aspect of your trading and how it's crucial to someone's success. Tom’s background.  Tom Winterstein
Sure, sure. Thank you. Thank you for that. Well, I've spent over 30 years in the markets as a trader, an investor and an educator, and I've been focus on, you know, global markets like futures and, equities and commodities, forex and, and even crypto using a price action based approach. But that wasn't always the case. That wasn't how I started. Tom Winterstein
Like most traders, I went through various different systems, indicators, you know, gurus, signals and stuff and totally ignored, any of the, the trading psychology or mental performance side because I thought I didn't need it. You know, I could succeed without that. You know, most traders, you know, like yourself and like me have been very successful. We've had successful periods in our life and we approach this as something that it's another thing we can be successful in. Tom Winterstein
Although it's not quite that easy, it doesn't translate that as well. If you leave out certain parts of it. So what I realized is that most traders don't struggle because they they lack a strategy. You know, most traders have a strategy. They're not just, you know, throwing a dart and buying or selling willy nilly. They struggle because their execution breaks down when there's real money on the line and in their emotions take over the, the class and that that right there, you know, that experience was the shift that led me to focus on building a repeatable performance environment. Tom Winterstein
Okay. Right. Hence the mental side of it had to be combined with price action or whatever your strategy or edge was today. My work centers not only in price action, but risk management and mental performance systems that help traders perform consistently, not perfectly, but consistently. And that's that's really, you know, the best we can strive for as traders or investors is to be consistent and have a system that that, you know, takes us through the decision making process. You don’t need to be perfect.  Tom Winterstein
So in the heat of the moment, those decisions are outsourced to our process. Andrew Mitchem
Yeah. Interesting. I like I really like the phrase that you use to that not making it perfect because I think when people get into trading and, you know, they buy a course or they read an e-book, whatever it might be, they see that boring bit at the top that talks about risk management and psychology and mind control, you know, mining everything, the all the important things that we're going to talk about. Andrew Mitchem
But they get that, oh, I don't need that. I scroll down through the important bit because I want the strategy. And then when they do things like backtesting, they they want the perfect strategy. And and your phrase about it's not perfect is so true because as we both know, we can see what we think is an A-grade setup. Andrew Mitchem
You take your trade and it still doesn't work sometimes. So that's just the way of the markets. But not being perfect is something that people, don't want. They want to be perfect, but they ignore the important and the risk and the micro. Why? Why is that? Why do people do that? Is it just a boring topic? Tom Winterstein
Well, it's many cases. Like even myself, when I was younger, I didn't know what I didn't know. Andrew Mitchem
Yeah, I know. Tom Winterstein
My my background, a formal education is more in, information systems, computer science. Yes. I have a postgraduate degree. I have a master's degree in business administration with a concentration on finance. But it did teach me about human emotions. When it comes in to to an environment like this. And it's it's trading is is pretty much a scenario unlike any others in the world. Tom Winterstein
Okay. You know, when it comes down because you have your money at stake and you know, it's it's and really we're performers, okay. And there's a lot of different roles where people perform. Could be a doctor or a lawyer. Pilot could be a skilled, you know, craftsman, a welder or whatever. Those are all acquired skills, okay. And training is an acquired skill. Tom Winterstein
However, when you get into, you know, the actual trading in the heat of the moment, there's, you know, there's psychological things beyond or our awareness or beyond our control that we just don't realize that are taking over. I give you one real simple example and we call it, you know, and this is how a lot of traders will sabotage themselves. Tom Winterstein
And we call it the identity gap. And and what I mean by that is, you know, like you mentioned, people will read books, take courses, watch videos, and they're highly skilled. Okay. But what happens is their performance lags their skill, meaning that they have all these tools, they know what to do, but their performance has has seemingly lagged their skill acquisition. Tom Winterstein
And so their subconscious labels them as an inconsistent trader. Yeah, okay. And that's a really hard label to break because 90% of our overall actions are directed and guided by our subconscious. And that was something that I didn't really understand. I didn't want to understand when I was a new trader. I'm like, that has nothing to do with with trading charts, you know, or anything. Tom Winterstein
Until I realized and her and I had done quite extensive study under, you know, a high performance psychologist, when the concept was, was approached to me that, hey, your subconscious is getting in your way, but it's something that can be reprogramed. And what stuck out with me out of that whole sentence was reprogramed because of my computer science backing and like, oh, okay, I need to understand the syntax. Tom Winterstein
Tell me the language. What can we do? Are there and there are specific tools to work on. You know how you get in your own way as a trader, you know, without getting and I'm not a psychologist, but but I understand the tools and know how they apply in the trading and investing, world. Ideas for new traders.  Andrew Mitchem
Right. Interesting. So someone starting out that's watching this, you know, let's say that new ish trader, the difference that we would see as people who help and we've been through this ourselves, you know, the difference between a demo account on a live account and people struggle with that transition, don't they? They, they go, a demo account of making money and I go live and I'm not making money. Andrew Mitchem
Why is that? What's going on in their mind that creates that change? Because in theory, if you're profitable on a demo, don't do anything different. And you should be profitable in a life. Tom Winterstein
Yeah, well, that's the theory and the demo, right? Yeah. The demo account can be a trap for many people. Because demo trading doesn't really prepare traders. And what I mean by that is without emotional consequences, execution habits never fully form. Okay. So there's no there's no real risk of, of a consequence in this case. When you trade, you lose money. Tom Winterstein
That's a consequence and there's no real risk of that consequence. So therefore we don't develop habits to overcome that potential. And and people will tend to do things in a demo account that they wouldn't do with their with their live account. Andrew Mitchem
Yes. Yeah. Tom Winterstein
You and I see that all the time. Yeah. And, and when I first I've done it. Andrew Mitchem
Yeah I've done it. You know years ago. Yeah. Tom Winterstein
Right. Right. And I so different when I first started, especially when I first started trading futures, that I felt so different with demo, it didn't I didn't think it was helping me. And so I really didn't trade demo very much to the point was that, okay, ev]]>https://theforextradingcoach.com/?p=19392Sun, 01 Feb 2026 14:00:41 +0000Andrew MitchemMaster Trading Discipline and Consistency  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #621: WMaster Trading Discipline and Consistency
In this video: 00:25 – The mental side of trading well.   
00:49 – Tom’s background. 
02:40 – You don’t need to be perfect. 
06:34 – Ideas for new traders. 
09:25 – AI and the future as a trader. 
14:25 – Closing the trade early for profit.
16:52 – False results from gurus online.
19:50 – Trading and stress.
23:14 – Andrew looking at D1 charts in a few minutes.
26:25 – People need support and community. Andrew Mitchem
Hi everybody. It's Andrew Mitchem here at the Forex Trading Coach. Welcome to another video on podcast. I'm really excited today to be joined by Tom Winterstein, who is a certified mental performance coach and trader over in the US. Welcome a long time. Nice to see you Tom Winterstein
Great. Thank you. Great to be here. The mental side of trading well.    Andrew Mitchem
Tom, look, I think we've got a lot of great information that we're going to help people with on this, video on podcast. Because we were just chatting about the mental aspect of trading and how it's something we're both huge on, but it's something that most people just completely overlook in their trading, especially if they're new. Andrew Mitchem
So maybe you can give us a bit of background on yourself and that aspect of your trading and how it's crucial to someone's success. Tom’s background.  Tom Winterstein
Sure, sure. Thank you. Thank you for that. Well, I've spent over 30 years in the markets as a trader, an investor and an educator, and I've been focus on, you know, global markets like futures and, equities and commodities, forex and, and even crypto using a price action based approach. But that wasn't always the case. That wasn't how I started. Tom Winterstein
Like most traders, I went through various different systems, indicators, you know, gurus, signals and stuff and totally ignored, any of the, the trading psychology or mental performance side because I thought I didn't need it. You know, I could succeed without that. You know, most traders, you know, like yourself and like me have been very successful. We've had successful periods in our life and we approach this as something that it's another thing we can be successful in. Tom Winterstein
Although it's not quite that easy, it doesn't translate that as well. If you leave out certain parts of it. So what I realized is that most traders don't struggle because they they lack a strategy. You know, most traders have a strategy. They're not just, you know, throwing a dart and buying or selling willy nilly. They struggle because their execution breaks down when there's real money on the line and in their emotions take over the, the class and that that right there, you know, that experience was the shift that led me to focus on building a repeatable performance environment. Tom Winterstein
Okay. Right. Hence the mental side of it had to be combined with price action or whatever your strategy or edge was today. My work centers not only in price action, but risk management and mental performance systems that help traders perform consistently, not perfectly, but consistently. And that's that's really, you know, the best we can strive...]]>1809false1fullhttps://www.spreaker.com/episode/620-why-traditional-investments-no-longer-work--69580570Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #620: Why Traditional Investments No Longer Work In this video:
00:36 – How can you achieve high returns these days?
01:04 – A massive 0.75% interest rate.
01:50 – Trade results for the week from trading FX.
03:08 – What are your plans for success?
04:00 – Time and financial freedom.
04:26 – The Successful trader coaching program.
04:57 – Blueberry Markets as a Forex Broker.
05:38 – Don’t waste this year – act now! We’re living in a world where high returns are quite difficult to achieve in many traditional markets. And I want to talk about that because unless you’re out there doing something slightly different, you potentially could be going backwards when you add inflation and the cost of living, etc. into the equation. So let's talk about that a more right now. Hey there traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 620. How can you achieve high returns these days? Now I want to talk about inflation. I want to talk about interest rates and returns. And the reason I want to talk about that today is I've got a piece of paper here printed out from Lloyds Bank. It's a bank that I used to use when I was a kid over in England. I still have an account with them, and they sent through an email, which I printed out here, regarding a reduction in the interest rates that they will now be kindly offering me on a cheque account that I still have there. A massive 0.75% interest rate. Now the interest rate has gone from an enormous 1% down to a staggeringly exciting 0.75%. So they're effectively cutting the interest rate that I'm getting from nothing to even less, but they're effectively taking it down. You know, they're taking 25% off of that from 1% down to 0.75. Now, of course, neither of those two rates are very exciting. And by the way, this is up to 25,000 pounds in this savings account. Absolutely crazy. And it got me thinking, because just behind me here — and you're not going to be able to see it on the charts — it's only Wednesday morning here and I'm making this video and podcast. Trade results for the week from trading FX. Now, Monday was a public holiday in the US, and so far the market's been fairly quiet this week. But even so, with the trades that I've closed behind me here with very low risk, I'm up 2.9% for the week so far in just two trading days. And the trade that I have open — just one trade — is up 0.5%. So that's already this week substantially more than they're going to pay me in an entire year. And as mentioned at the beginning, with inflation and the cost of living — just go out and try and buy something in the grocery store. Well, luckily here we grow as much food as we can for ourselves. But you go out there anywhere around the world. It doesn't matter where you live. I know what Europe's like right now. I've spent a month in the States last year, and you just see the cost of living. You look at what's happening to your rates bills, like your insurance. Everything that you purchase just to live is going up and up and up through the roof. Yet interest rates in the traditional sense of investment — like, I know a bank account, that's not really what you call a traditional investment — but it's still something that you hope to earn some interest on. After all, it's your money that they're using and they're giving you next to nothing. What are your plans for success? So it comes back to: what are you going to do to change that? Would you like to have the ability to, just like I've done here on my trades so far this week, you know, you put those trades open and closed together, pretty much a 3.5% return so far — in just two very quiet trading days. And so would you like to have that knowledge and ability to do that for yourself on a consistent basis? And if your answer is yes, I would — what's that worth to you? What's that worth to you in terms of a bit of time and investment in yourself? To have that knowledge to be able to do that. And I think that's really the question that you need to ask yourself. Are you going to make 2026 the year when things change for you? Or is this going to stay the same as last year and the year before and the year before, when nothing happens and you’re effectively either treading water or going backwards financially. Time and financial freedom. And also time-wise? You know, because we all want time freedom. But of course we all want financial freedom. And you put the two together, and that's what knowing how to trade properly with a strategy that does not require you to sit in front of the computer here all day. I've just looked at the daily charts today on Wednesday. There are no trades today. I don't see anything. And so I'm not going to take any trades now and even look at the charts now for another 12 hours. The Successful trader coaching program. And so if you want to know how we do that, have a look at the page link that I put here for the course. By the way, we are looking at changing the fee back to what it used to be for the previous 16 years. Right now, as you're listening and watching this, it is on a small join fee and a small monthly subscription fee. And we are looking at changing that. And there'll be more about that shortly. So if you want to jump in and take advantage of that lower price right now, I suggest that you have a look at the link that I'll put here. Blueberry Markets as a Forex Broker. If you're out there looking for a good broker, I can highly recommend Blueberry Markets. They're over in Australia. But pretty much anywhere in the world can open an account with them, with a few exceptions — a few countries. And if you're in the US, I'm sorry, you cannot open with Blueberry Markets, but pretty much everybody else can. And you can look through various forex markets, you know, a huge number of pairs on the charts. Plus, of course, now you have the ability to look at non-forex pairs, the cryptos, the commodities, indices, etc. like that. So it's opened up a whole new range of markets for us to trade in exactly the same way. And that's the beauty of it. So have a look at Blueberry Markets and I'll put a link to them. Don’t waste this year – act now! But I really encourage you to strongly have a think about what you're going to do. You know, we're already towards the end of January — this month’s disappearing fast. Do something before it's too late and train yourself up and see you know exactly how to look after your financial future yourself. We've been doing this coming up 17 years this year. Not many others out there can say that. So if you'd like to come on board with us at the same proven strategy that's been around all those years over all market conditions, do something about it and jump on board now. This is Andrew here at The Forex Trading Coach. I'll see you this time next week. Bye for now. Episode Title: #619: What It Really Takes to Trade for a Living Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=19348Sun, 25 Jan 2026 14:00:47 +0000Andrew MitchemWhy Traditional Investments No Longer Work  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #620: Why Traditional Investments No Longer Work In this video:
00:36 – How can you achieve high returns these days?
01:04 – A massive 0.75% interest rate.
01:50 – Trade results for the week from trading FX.
03:08 – What are your plans for success?
04:00 – Time and financial freedom.
04:26 – The Successful trader coaching program.
04:57 – Blueberry Markets as a Forex Broker.
05:38 – Don’t waste this year – act now! We’re living in a world where high returns are quite difficult to achieve in many traditional markets. And I want to talk about that because unless you’re out there doing something slightly different, you potentially could be going backwards when you add inflation and the cost of living, etc. into the equation. So let's talk about that a more right now. Hey there traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 620. How can you achieve high returns these days? Now I want to talk about inflation. I want to talk about interest rates and returns. And the reason I want to talk about that today is I've got a piece of paper here printed out from Lloyds Bank. It's a bank that I used to use when I was a kid over in England. I still have an account with them, and they sent through an email, which I printed out here, regarding a reduction in the interest rates that they will now be kindly offering me on a cheque account that I still have there. A massive 0.75% interest rate. Now the interest rate has gone from an enormous 1% down to a staggeringly exciting 0.75%. So they're effectively cutting the interest rate that I'm getting from nothing to even less, but they're effectively taking it down. You know, they're taking 25% off of that from 1% down to 0.75. Now, of course, neither of those two rates are very exciting. And by the way, this is up to 25,000 pounds in this savings account. Absolutely crazy. And it got me thinking, because just behind me here — and you're not going to be able to see it on the charts — it's only Wednesday morning here and I'm making this video and podcast. Trade results for the week from trading FX. Now, Monday was a public holiday in the US, and so far the market's been fairly quiet this week. But even so, with the trades that I've closed behind me here with very low risk, I'm up 2.9% for the week so far in just two trading days. And the trade that I have open — just one trade — is up 0.5%. So that's already this week substantially more than they're going to pay me in an entire year. And as mentioned at the beginning, with inflation and the cost of living — just go out and try and buy something in the grocery store. Well, luckily here we grow as much food as we can for ourselves. But you go out there anywhere around the world. It doesn't matter where you live. I know what Europe's like right now. I've spent a month in the States last year, and you just see the cost of living. You look at what's happening to your rates bills, like your insurance. Everything that you purchase just to live is going up and up and up through the roof. Yet interest rates in the traditional sense of investment — like, I know a bank account, that's not really what you call a traditional investment — but it's still something that...]]>379false1fullhttps://www.spreaker.com/episode/619-what-it-really-takes-to-trade-for-a-living--69456059Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #619: What It Really Takes to Trade for a Living In this video:
00:01 – Summary of the interview.
00:31 – Andrew Mitchem interview with Etienne Crete.
01:13 – What it takes to succeed in the market long term.
04:37– How long will it take to be a good trader?
06:25 – How do you know if your strategy is not working?
10:40 – What time frame charts should I trade?
18:23 – Prop firm advantages and disadvantages.
22:15 – What returns can I make?
27:40 – Mindset of trading.
30:36 – Contact Andrew Summary of the interview. The amount that you make as a dollar value is not important to me. It's the percentage that you make as opposed to the percentage risk, because you can go on to a prop firm and use their money if you're good. You know, it doesn't matter whether I lose $10, $100 or $1,000 if it's still the same percentage. I'm going to make $30, $300 or $3,000. You know, if it's a 3 to 1 trade, providing that you get your mindset away from the numbers and you look at it as percentages. Andrew Mitchem interview with Etienne Crete. Something not to do with Andrew Mitchem. And Andrew is a trader that I really admire for his consistency in trading the same methods mostly for multiple decades now, I believe. So it was good to see you back on the podcast. We had a chat a few months ago, I believe, and then you were the very first guest on the podcast. Always kind of welcome back here, which is cool. But tell me what's going on with you and kind of what you're up to these days. Yeah. So nice to be here, first of all. And lovely. I think this is our fourth or fifth one. So, really good to be here. Yeah. Life's good here with summertime over in New Zealand. Markets are good, which is nice. Now we're, you know, we're over that Europe to be in the northern hemisphere summer season. Yeah. It's good. Life's good, as in very good. Awesome. What it takes to succeed in the market long term I want to address certain topics it's going to come down to, I believe, is the theme of what it really takes to succeed in the market long term. I know you have students who are very profitable now. Yeah, students who might struggle a little bit. Have maybe a lot of people who will see you, and then they see you trade full time and they kind of wonder why you're so successful. Can you kind of start to unpack this and kind of figure out, what does it take to make a living in the markets in the long term? Yeah, I think there's obviously a lot of dedication required to trade and to trade well. A lot of dedication and learning up front. I think one of the things I see that a lot of people today are not doing is I don't think there's a lot of people there that are willing to put a lot of time and effort into their trading. And I think as a full-time trader, I'm noticing that's getting possibly worse. You know, whether it's a social media thing or people want instant results, I'm not entirely sure what the actual reason is. But one thing I do notice is that people aren't putting that time and effort in. And if things aren't going well and they're not suddenly making a fortune in a month, they give up. But I find from my point of view, from what I can help people with, it's just being honest with people and saying, you do need to put some time and effort in to do it properly. You can become a full-time trader. Absolutely. It's not going to be for everybody. You still have to absolutely love it and have that passion to want to do it and to turn up, to expect that not everything's going to work perfectly. Market conditions are not always going to be great. You've got to take losing trades, losing weeks, losing months sometimes, but you've got to stick through it and be consistent. And I think that's one thing I can tell people with my years of experience: that's how you're going to get through it. It's a little bit harder for some people to actually accept that because, you know, when you're in the middle of a slump, it's quite hard to see the other side. It's funny how trading seems to get easier in the sense that you have more information. You have more coaches that can help you how to trade and stuff, but people seem to be putting less effort than before, I feel. Yeah, absolutely. People are not willing to put time in or dedicate some time to try and learn. Look, I've got these things behind me here. That's my new passion, playing guitar. I'm putting daily practice into it. I'm learning to sing. You know, I've done the helicopter thing, I've done the karate thing, and now it's this. And I can't instantly expect to turn up and play and sing and be in a band without doing, you know, several years of time and dedication. And it's getting better all the time. And you go through ups and downs and it becomes easy, then it's horrible, then you feel dreadful. And I think that trading is exactly the same, but you've got to want to do it. I think you've also got to make sure that you're doing it because you enjoy the trading aspect of it, not simply because you see it as a way to get rich quick or you hate your job. So you think that trading is going to solve all your financial problems. It can do, but you've got to give it time. How long will it take to be a good trader? If someone were to ask you, what's the amount of time it's going to require for me to just sit in trading, what would you tell them? Can you pinpoint how many years it's going to take them, or can you just say that it takes what it takes and that's it? Yeah, I think that you need to dedicate — I mean, I suppose that's how long it's going to take you. But if you can give yourself half an hour or an hour a day to learn properly, that would be good. Do your homework on the terminology of trading. You know, when we start talking about limit orders and stop losses and currency pairs and all those type of things, it's easy because we've done it for so long. But if you're new to it, you've got to give yourself — like learning a new language — time to understand that terminology. Then I think you need to find yourself either a strategy that someone else has created, or put some time into observing the market yourself. And when you're doing that, don't worry about making money. Don't even contemplate money. Get onto a demo account, look at charts. So time-wise per day, I think even giving half an hour, an hour a day to learn would be nice. That must be every day. But give yourself like six months. Give yourself a year. Don't rush it. Don't expect miracles. If you do it properly and do it slowly, you'll find that it will come together. And you'll find that you'll pick up so much because you're observing real market conditions without the pressure of feeling that you have to make money from it from day one. Something I see a lot is people that don't know when to stop learning. Like, of course you should always try to learn and train and always try to become better, but there's a time where you have to stop learning different strategies, stop kind of jumping between different strategies, and you've got to apply what you've learned so far. How do you know if your strategy is not working? How do you advise people to know when it's time to stop learning other things and other strategies? Yeah, that's an interesting one because you're right. The issue that people will have after a certain length of time is if it doesn't work really quickly, they'll then go back and try and find something else again, back onto a forum, reinvent the wheel. I'll give you a great example: just this week I had a guy who wrote to me who's a client from a number of years ago, and he said it didn't work for me. And I came back to your system about six months ago and I started again. And it's working and I'm loving it. And I'm doing well. I'm on a prop firm and everything. But a lot of people give up too quick. And I think you need to, once you've got something that's proven — maybe not proven to you, but proven to other people — you've got to dedicate some time to forgetting everything else. Because if you get yourself a strategy that has been proven to work, you don't need to go out there adding to it, and you just need to apply it in real market conditions. You know, I think it's really important that you do that. And again, like I said earlier, you have to accept that not every trade is going to work, but providing if you're looking for — like in my example, I'm looking for candle patterns, etc. So providing I'm taking what is a good quality trade at that time, if the trade works or the trade doesn't work, I can't help that. All I have to do is go back and look at it and go, at that time, did this trade meet all those criteria, yes or no? If it did and the trade loses, well that's fine. That's part of trading. But you've got to stick to that system. One of the other things I find I get questions about when it comes to things like that is what time frame should I trade? And when people are new, they naturally want to trade lots and lots of trades. So they go to like one- and five-minute charts and fifteen-minute charts — and look, I did exactly the same years ago. You've got to not do that. You've got to, in my opinion, get to something longer and more reliable. And]]>https://theforextradingcoach.com/?p=19318Thu, 15 Jan 2026 18:00:33 +0000Andrew MitchemWhat It Really Takes to Trade for a Living  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #619: What It Really Takes to Trade for a Living In this video:
00:01 – Summary of the interview.
00:31 – Andrew Mitchem interview with Etienne Crete.
01:13 – What it takes to succeed in the market long term.
04:37– How long will it take to be a good trader?
06:25 – How do you know if your strategy is not working?
10:40 – What time frame charts should I trade?
18:23 – Prop firm advantages and disadvantages.
22:15 – What returns can I make?
27:40 – Mindset of trading.
30:36 – Contact Andrew Summary of the interview. The amount that you make as a dollar value is not important to me. It's the percentage that you make as opposed to the percentage risk, because you can go on to a prop firm and use their money if you're good. You know, it doesn't matter whether I lose $10, $100 or $1,000 if it's still the same percentage. I'm going to make $30, $300 or $3,000. You know, if it's a 3 to 1 trade, providing that you get your mindset away from the numbers and you look at it as percentages. Andrew Mitchem interview with Etienne Crete. Something not to do with Andrew Mitchem. And Andrew is a trader that I really admire for his consistency in trading the same methods mostly for multiple decades now, I believe. So it was good to see you back on the podcast. We had a chat a few months ago, I believe, and then you were the very first guest on the podcast. Always kind of welcome back here, which is cool. But tell me what's going on with you and kind of what you're up to these days. Yeah. So nice to be here, first of all. And lovely. I think this is our fourth or fifth one. So, really good to be here. Yeah. Life's good here with summertime over in New Zealand. Markets are good, which is nice. Now we're, you know, we're over that Europe to be in the northern hemisphere summer season. Yeah. It's good. Life's good, as in very good. Awesome. What it takes to succeed in the market long term I want to address certain topics it's going to come down to, I believe, is the theme of what it really takes to succeed in the market long term. I know you have students who are very profitable now. Yeah, students who might struggle a little bit. Have maybe a lot of people who will see you, and then they see you trade full time and they kind of wonder why you're so successful. Can you kind of start to unpack this and kind of figure out, what does it take to make a living in the markets in the long term? Yeah, I think there's obviously a lot of dedication required to trade and to trade well. A lot of dedication and learning up front. I think one of the things I see that a lot of people today are not doing is I don't think there's a lot of people there that are willing to put a lot of time and effort into their trading. And I think as a full-time trader, I'm noticing that's getting possibly worse. You know, whether it's a social media thing or people want instant results, I'm not entirely sure what the actual reason is. But one thing I do notice is that people aren't putting that time and effort in. And if things aren't going well and they're not suddenly making a fortune in a month, they give up. But I find from my point of view, from what I can help people with, it's just being honest with...]]>1991false1fullhttps://www.spreaker.com/episode/618-review-your-trading-year-prepare-for-2026--69041052https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ #618: Review Your Trading Year & Prepare for 2026 In this video:
00:59 – Reviewing 2025 trading conditions.
01:23 – Daily trades at +30% for the year.
02:08 – Consistency is key.
02:35 – What’s worked and what has not worked for you this year?
03:05 – Multiple markets to trade well this year.
03:54 – I traded while on holiday in the US for 1 month.
04:47 – Ask us for help.
05:07 – Attend my 30 minutes Masterclass.
05:50 – Our Christmas break.
06:18 – Our 17th year next year at TFTC.
08:00 – Thanks for your support and happy Christmas and New Year. How's 2025 been for you as a trader? Hopefully you've had a good year. The market conditions have been excellent. And also, I'd like to challenge you to review your year, to see what worked, what has not worked, and what you are going to do to make sure that over the next few weeks, 2026 becomes a great trading year for you. Let's talk about that and more right now. Hey there, Traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 618. The last one for 2025. I'm outside here with the beautiful New Zealand Pohutukawa trees, which are called the New Zealand Christmas tree if you're watching on video. They come at this time of year in December. Beautiful red flower. But, yeah, I want to make this video just to talk about the Christmas break, about New Year. Reviewing 2025 trading conditions. But also to review your 2025. How have you found it? I've found that the market conditions this year have been really good. After maybe a couple of years of more quiet forex market conditions, this year the conditions are back again. Great movement in the market. And we've had a great year, like this awesome year. Great results across multiple time frame charts and multiple markets. Daily trades at +30% for the year. To give you an example, just our daily chart trades alone on half of 1%, and forget, we're up at a plus 30%, three zero, for the year. And still with two weeks of trading to go. And it just shows the consistency. Every single year since 2010, our daily trades have been profitable. But another 30%, and that's complete set and forget. So, obviously with a bit of trade management, you could do better than that. Now, that's one timeframe I'm talking about here. On top of that, we also post trades on the monthly charts, weekly charts, and we talk about other time frame charts such as 12 hour, 8, 6, 4, 3, 2, 1 and everything in between. Consistency is key. And so it just shows the consistency of not only being able to follow along and earn from your trading while following what we're doing, but of course our job is to help you as well, for clients to learn so you know exactly what to do. You know what to look for, how and where and why to enter and exit a trade, to ensure that your risk is low and your reward to risk is really high. So really important that you know that in your strategy. What’s worked and what has not worked for you this year? Now, I would challenge you, if you're not a client, to have a look at your strategy and what's worked and what's not worked this year. But also, you know, take this time now with the markets going to be quiet over Christmas and New Year and just have a good think about what it is that you need to do differently into 2026 if this year was not a good year for you. As mentioned, conditions have been really good this year. And therefore, if your strategy's good, you should have had a very good year. Multiple markets to trade well this year. We found that, you know, the forex market has been good. The non-farm markets have been good. Just this week, we took a sell trade on US oil. That was profitable. Just earlier this morning, my time, it hit the profit target. We've had multiple crypto trades, other commodities and indices as well. And so even if one market's a little bit quiet or one timeframe's a little bit quiet, because the strategy works across all markets and all time frame charts, we've found really good results and conditions on the likes of US oil if, let's say, the forex market was quiet on that same day. And that's the beauty of being able to scan different time frame charts and different markets. So, is that something that you need help with or is it something that you're absolutely fine with? Just review your trades and it's really important. I traded while on holiday in the US for 1 month. From a personal point of view, I had a month in the US with my wife for her 50th birthday in July and August, and the beauty is, you can trade and travel and trading just carried on exactly the same. And, you know, that's the beauty, isn't it? You know, it's not just the financial freedom. It's the time freedom as well. Don't forget, we're all getting older. You know, we've all got less time left on this earth. Use it wisely. What's the point in sitting glued to charts all day and night staring at charts? It's like I could think of nothing worse. So, having that time freedom to be able to go and do things that you want to do is just crucial. And in my opinion, anyway, I just think it's just as important as the financial gain is the time freedom that trading offers you. So, have a good review of everything from your side and. Ask us for help. If you need any help with anything, just sing out like we are. I mean, it's obviously summertime here in New Zealand. This time of year onwards, December into January, is generally a pretty quiet, cruisy time of year, lots of barbecues and things like that. So we are around, we're here to help and make this work for you. Attend my 30 minutes Masterclass. And, if you have not been on my masterclass, I encourage you over the next few weeks to spend an hour and just have a look through the website and half an hour on the masterclass. And go and look at the previous videos that I've made like this. There are 618 of them. You're going to learn a lot of those, listen to some podcasts if you've got some free time of these recordings as well, and just make use of the next month conditions over Christmas and New Year. Obviously the markets stay open for majority of that time. But conditions will either be really, really quiet on a lot of those markets or, due to thin volume, they could be quite, you know, quite wild and erratic. So you never really know. Our Christmas break. But either way, we're stopping trading on the 19th, I think it is on the Friday, and we're not starting until Monday the 11th, I think that is, January. Just having a good break, well-earned break. We've showed up every single day for our daily trades. We're on the forum site the whole time. We do our live webinars for our clients every single week. We put huge effort into making it work for us and our clients and consistency and showing up is key. Our 17th year next year at TFTC. So, next May in 26, we turn 17 years old here at The Forex Trading Coach, something that myself and the team are immensely proud of, of what we've achieved personally with the strategy and our own trading and the community that we've built up over those years and the amazing clients that we have on board and the help that we've given people from right around the world. And, like, you go out there and have a look online. Who's out there that's been around for 17 years in this market? You know, you're going to find hundreds, if not thousands of made up people on TikTok and Instagram and that type of thing. The majority aren't real. We're there doing this day in, day out. And the proof is in the longevity. By the way, the strategy in that time has never changed. You can go back and have a look at my daily trading posts from 2010 and look at the live webinars from 2010. Everything remains the same. So consistency of showing up, consistency in the strategy. We're not jumping and changing all over the place like most people do. We're not making it up and changing it. Conditions change. This is real, real people outside doing things, family people, you know, just normal people, if that's what appeals to you. And, and you're not interested in the flashy red Ferraris and the made up trades, and you want real trading that you can do and enjoy your life at the same time, I really encourage you to have a look and consider coming on board with us and letting us help you for next year. So that's it for this year. Thanks for your support and happy Christmas and New Year. It's been an awesome year, been a great year. I'd like to thank everybody for watching and listening and of course all the team here at The Forex Trading Coach and especially all the clients as well. It's great to have you on board. Loved the community and the interaction that we have helping each other. And I'd just like to take this opportunity to wish you all a fantastic Christmas, have a safe and enjoyable time, whatever you're doing. And have a great New Year and look forward to seeing you in 2026 when we do it all again. This is Andrew Mitchem here at The Forex Trading Coach. Happy Christmas. See you next year. Bye for now. Episode Title: #618: Review Your Trading Year & Prepare for 2026 ]]>https://theforextradingcoach.com/?p=19209Sun, 14 Dec 2025 12:00:53 +0000Andrew MitchemReview Your Trading Year & Prepare for 2026  Podcast:...https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ #618: Review Your Trading Year & Prepare for 2026 In this video:
00:59 – Reviewing 2025 trading conditions.
01:23 – Daily trades at +30% for the year.
02:08 – Consistency is key.
02:35 – What’s worked and what has not worked for you this year?
03:05 – Multiple markets to trade well this year.
03:54 – I traded while on holiday in the US for 1 month.
04:47 – Ask us for help.
05:07 – Attend my 30 minutes Masterclass.
05:50 – Our Christmas break.
06:18 – Our 17th year next year at TFTC.
08:00 – Thanks for your support and happy Christmas and New Year. How's 2025 been for you as a trader? Hopefully you've had a good year. The market conditions have been excellent. And also, I'd like to challenge you to review your year, to see what worked, what has not worked, and what you are going to do to make sure that over the next few weeks, 2026 becomes a great trading year for you. Let's talk about that and more right now. Hey there, Traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 618. The last one for 2025. I'm outside here with the beautiful New Zealand Pohutukawa trees, which are called the New Zealand Christmas tree if you're watching on video. They come at this time of year in December. Beautiful red flower. But, yeah, I want to make this video just to talk about the Christmas break, about New Year. Reviewing 2025 trading conditions. But also to review your 2025. How have you found it? I've found that the market conditions this year have been really good. After maybe a couple of years of more quiet forex market conditions, this year the conditions are back again. Great movement in the market. And we've had a great year, like this awesome year. Great results across multiple time frame charts and multiple markets. Daily trades at +30% for the year. To give you an example, just our daily chart trades alone on half of 1%, and forget, we're up at a plus 30%, three zero, for the year. And still with two weeks of trading to go. And it just shows the consistency. Every single year since 2010, our daily trades have been profitable. But another 30%, and that's complete set and forget. So, obviously with a bit of trade management, you could do better than that. Now, that's one timeframe I'm talking about here. On top of that, we also post trades on the monthly charts, weekly charts, and we talk about other time frame charts such as 12 hour, 8, 6, 4, 3, 2, 1 and everything in between. Consistency is key. And so it just shows the consistency of not only being able to follow along and earn from your trading while following what we're doing, but of course our job is to help you as well, for clients to learn so you know exactly what to do. You know what to look for, how and where and why to enter and exit a trade, to ensure that your risk is low and your reward to risk is really high. So really important that you know that in your strategy. What’s worked and what has not worked for you this year? Now, I would challenge you, if you're not a client, to have a look at your strategy and what's worked and what's not worked this year. But also, you know, take this time now with the markets going to be quiet over Christmas and New Year and just have a good think about what it is that you need to do differently into 2026 if this year was not a good year for you. As mentioned, conditions have been...]]>519false1fullhttps://www.spreaker.com/episode/617-too-busy-to-trade-try-this-weekly-strategy--68927021https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ #617: Too Busy to Trade? Try This Weekly Strategy In this video:
00:31 – Do you lack the time to trade?
01:50 – How to trade without taking up too much time.
02:08 – GBP/HKD W1 chart with a 4.8:1 Reward:Risk.
03:27 – My first ever client trades only Weekly charts.
04:33 – Look at the charts just once a week.
05:18 – It’s all about knowing what to look for.
05:41 – Book a call with us.
06:04 – 30 minutes Masterclass.
06:25 – Blueberry Markets as a Forex Broker.
07:04 – Like, Share and Subscribe Do you think that you're too busy to trade? If that's you, I've got a great solution for you. This is something that my very first client from back in 2009 has done since then, whilst running his very successful business. Let's get into that and more right now. Hey there, Traders! It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 617. Do you lack the time to trade? So a common problem that so many people face is they think they are too busy to trade. And it's fair enough because you see out there online, you know, examples on various platforms, YouTube, etc. of people looking at charts and looking at 5 minute charts and watching every pip move up and down. And you look at that and you think, well, realistically, how on earth can I copy that process? Because I'm just too busy. I've got, you know, work, businesses, family, hobbies, whatever it might be going on in your life. And there's no way that you are going to be able to afford that time to sit there, either to want to do it or to be able to do it, to sit there watching charts, ready to take little trades every now and then. It's just not realistic. And of course, many people wake up to that fact and they go, well, looks good and maybe in hindsight, but I just realistically cannot dedicate time to doing this. And even if you could, do I really want to sit there just staring at charts, watching 5 minute charts and 15 minute charts, just waiting for that signal to occur? Probably not, because it's not realistic and it's not something you're going to enjoy and continue to be able to do or want to do long term. So everybody's got busy lives. I get that. How to trade without taking up too much time. So what can you do to still become a good trader, but to not take up all day? And the very simple solution is you can look at the longer time frame charts such as the weekly charts. Now, just this week, right now is the absolute perfect example. GBP/HKD W1 chart with a 4.8:1 Reward:Risk. At the beginning of this week, we suggested a buy trade to our clients on the GBP/HKD. Now you go and have a look at your weekly charts for the beginning of this week. Go on to the pound Hong Kong dollar and you'll see the candle setup that I'm taking now. Right now as I'm recording this, the trade has not reached a profit target. But it's very, very close. It's only like ten pips away right now. If it hits the full profit target, which it's almost certainly going to do, especially by the time you watch this and listen to this, the trade's going to make a massive 4.8 to 1 reward to risk. So if you imagine that at the beginning of this week you saw that trade and you placed, let's say, a 1% risk on that trade, that's going to make you an incredible 4.8% gain on your account on the one trade in one week by taking literally, what, ten minutes to scan through the charts, if that, just at the beginning of the week. If you took a half percent risk, that's going to make you a 2.4%, not a bad gain in one week from a trade that took you like five or ten seconds to actually place, and then you've forgotten about it. No more chart watching. You just put the trade on, put your stop loss on, put your profit target on and let the trade do its thing. Let the market do its thing. Now that is a solution for you if you're short on time. My first ever client trades only Weekly charts. Now, my very first client, and he was the instigator in starting The Forex Trading Coach because he used to buy trading signals from me. And he said, look, Andrew, would you fly across to Australia to come and teach me? And I spent about four or five days with this guy and his family back in 2009, and that is how I started the coaching. And he was just thrilled with the system and thrilled with everything I taught him. And to this day, he is still trading. Now this guy owns a number of restaurants, very high end quality restaurants in Noosa in Australia. And he traded back then the weekly charts and to today he continues to trade just the weekly charts because for him he can have a look at his charts once a week early morning Monday morning in Australia. Or he can, you know, have a few minutes over the weekend because the forex markets are shut of course. And he can have a look through the weekly charts. And by the time the markets open, he can place trades exactly like we've just placed on the GBP/HKD. And for the rest of the week, he's out there running his restaurants and managing staff and happy customers, etc. Look at the charts just once a week. And so that is a very good solution because the weekly charts, of course you need to look just once a week, the quality of the chart trade setups is very, very good. You don't have to worry about news events or anything like that. Put the trade on, leave the trade to do its thing. Have a look at the end of the week. Do I leave the trade open over the weekend if it's still going, or do I close it if it's not already hit the stop loss or profit target? So a great solution for people who maybe are traveling, who have got to run businesses, just too busy to look at charts. Once you understand what you're doing, you can place trades like the GBP/HKD weekly chart trade and end up, let's say, with a 1% risk and a 4.8% account gain. Try doing that on many other markets and something that's taking you such a short amount of time. It’s all about knowing what to look for. However, the key to all of this is not how little time you're going to trade. The key is knowing what to look for. And so the only way you're going to do that is to spend just a little bit of time upfront and learn to dedicate a bit of time to your knowledge and your education so you have the ability to see these type of trades and to take these type of trades. Book a call with us. Now two things you can do. One, if you'd like to book a call with either myself or the team, I'm going to put a link to our booking account. We have opened up more available time slots, so it's available to anybody, anywhere around the world. We can give you a call on your home phone number or mobile and have a chat about how we can help you with the trading or see if we can help you with the trading, if it's going to be a good fit or not. 30 minutes Masterclass. And the other thing you can do is have a look at my 30 minute On Demand masterclass, where I explain all about trades exactly like that GBP/HKD. Show you some trades on the charts of what we're doing, how we trade, using limit orders, all those type of things that we do in keeping risk low per trade, and of course not spending much time on the charts each day. Blueberry Markets as a Forex Broker. Now, the other thing you can do and do yourself a favor if you're out there looking for a good broker, is have a look at Blueberry Markets. They offer the MT4 and especially the MT5 trading platform. So you might find some brokers don't offer markets like the GBP/HKD. But Blueberry Markets on the MT5 platform do. And that's the beauty of it. You can look for the candle pattern and the chart pattern that is showing you the best setup. It doesn't matter whether you have any interest in the GBP or the HKD. It doesn't matter if the technical trade setup is there. See the trade. Take the trade. Profit from the trade. Enjoy your trading. Spend a few minutes once a week on the weekly charts. You'll find they're incredibly good. I hope that helps. Like, Share and Subscribe Any questions? Please feel free to reach out. Ask me directly Andrew@TheForexTradingCoach.com If you're watching, don't forget to like and subscribe if you're on YouTube or other social media platforms. And I hope that helps. For anybody that wants to look to trade properly and who feels that they don't have a ton of time to dedicate to their trading on a daily basis, it's a great solution. It's profitable, it's enjoyable. It's something you can do just once a week and still trade the markets properly. This is Andrew Mitchem here at The Forex Trading Coach. I'll see you this time next week. Bye for now. Episode Title: #617: Too Busy to Trade? Try This Weekly Strategy https://www.blueberrymarkets.net/lp/tftc-forex-brokerhttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-application]]>https://theforextradingcoach.com/?p=19109Sat, 06 Dec 2025 12:00:11 +0000Andrew MitchemToo Busy to Trade? Try This Weekly Strategy  Podcast:...https://portal.blueberrymarkets.com/en/sign-up?referralCode=t90r3z11ahttps://theforextradingcoach.com/online_video_coaching_forex_course.htmlhttps://theforextradingcoach.com/call-applicationhttps://theforextradingcoach.com/forex-training-masterclass/ #617: Too Busy to Trade? Try This Weekly Strategy In this video:
00:31 – Do you lack the time to trade?
01:50 – How to trade without taking up too much time.
02:08 – GBP/HKD W1 chart with a 4.8:1 Reward:Risk.
03:27 – My first ever client trades only Weekly charts.
04:33 – Look at the charts just once a week.
05:18 – It’s all about knowing what to look for.
05:41 – Book a call with us.
06:04 – 30 minutes Masterclass.
06:25 – Blueberry Markets as a Forex Broker.
07:04 – Like, Share and Subscribe Do you think that you're too busy to trade? If that's you, I've got a great solution for you. This is something that my very first client from back in 2009 has done since then, whilst running his very successful business. Let's get into that and more right now. Hey there, Traders! It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 617. Do you lack the time to trade? So a common problem that so many people face is they think they are too busy to trade. And it's fair enough because you see out there online, you know, examples on various platforms, YouTube, etc. of people looking at charts and looking at 5 minute charts and watching every pip move up and down. And you look at that and you think, well, realistically, how on earth can I copy that process? Because I'm just too busy. I've got, you know, work, businesses, family, hobbies, whatever it might be going on in your life. And there's no way that you are going to be able to afford that time to sit there, either to want to do it or to be able to do it, to sit there watching charts, ready to take little trades every now and then. It's just not realistic. And of course, many people wake up to that fact and they go, well, looks good and maybe in hindsight, but I just realistically cannot dedicate time to doing this. And even if you could, do I really want to sit there just staring at charts, watching 5 minute charts and 15 minute charts, just waiting for that signal to occur? Probably not, because it's not realistic and it's not something you're going to enjoy and continue to be able to do or want to do long term. So everybody's got busy lives. I get that. How to trade without taking up too much time. So what can you do to still become a good trader, but to not take up all day? And the very simple solution is you can look at the longer time frame charts such as the weekly charts. Now, just this week, right now is the absolute perfect example. GBP/HKD W1 chart with a 4.8:1 Reward:Risk. At the beginning of this week, we suggested a buy trade to our clients on the GBP/HKD. Now you go and have a look at your weekly charts for the beginning of this week. Go on to the pound Hong Kong dollar and you'll see the candle setup that I'm taking now. Right now as I'm recording this, the trade has not reached a profit target. But it's very, very close. It's only like ten pips away right now. If it hits the full profit target, which it's almost certainly going to do, especially by the time you watch this and listen to this, the trade's going to make a massive 4.8 to 1 reward to risk. So if you imagine that at the beginning of this week you saw that trade and you placed, let's say, a 1% risk on that trade, that's going to make you an incredible 4.8% gain on your account on the one trade in one week by taking literally, what, ten minutes to scan through the charts, if...]]>464false1fullhttps://www.spreaker.com/episode/616-find-the-best-time-frame-for-trading--68806421Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #616: Find the Best Time Frame for Trading In this video:
00:27 – Traders are confused over which time frame chart to trade.
01:25 – New traders give up.
01:42 – This changed my trading around.
02:43 – More time frame charts now available.
03:00 – What do you prefer and what are the market conditions doing?
03:36 – Look at 5pm and 5am EST.
05:42 – Book a time to chat with us.
06:04 – Blueberry Markets as a Forex Broker. Do you get confused with not knowing which time frame chart to trade, or when to look at your charts for a new trading opportunity? If that's you, listen up. I've got some great solutions for you. Hey there traders! It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 616. Traders are confused over which time frame chart to trade. So today I want to address a common problem that I find that a lot of traders have. And that is they don't know what time frame chart to trade. And also they don't know when to look at the charts. And there's a couple of real easy solutions and answers that I have for you. See, the issue that a lot of people have is when they start trading, everybody wants to take trades and lots of them because it's exciting and it's new. And of course, if you go to like a 15-minute chart or a five or even a one-minute chart, you're going to see the market moving and you think, “Oh, there are great opportunities here.” But of course, at that time you've got little idea about spreads. And if you take sell trades and the spread widens a bit in levels, it's going to take you out for a loss quite easily. But everybody kind of goes through it and they think they need to trade like five-minute charts and scalp. And it looks really cool and exciting. New traders give up. The issue becomes that you soon realize that either the spread’s taking you out and you're losing trades all the time, or you're getting glued to the charts and you become trigger happy, and then you become nervous and you don't know what you're doing, and you lose confidence and you give up. This changed my trading around. One of the things that changed my trading around some 20 years ago, nearly now, is I went the opposite way after falling for the short time frame trick. I went the opposite way. I went to a daily chart. I took all the indicators and everything off my chart, and I studied the daily charts. I found that the higher time frame charts were more reliable, gave me good information, far less stress, looked at the charts just once a day, news events don't really affect them, and it's far more enjoyable and far more rewarding. Your profitable trades are so much better and it just becomes a better thing to do. And when I made my strategy that I still trade today, I did start on daily charts. And then you can go higher time frames to like weekly and monthly. But also I then discovered that I got shorter time frames, you know, I go into like four hours and one-hour charts potentially, but not so much for me. You can trade it. More time frame charts now available. Now, of course, more recently we have the ability to trade charts like 12-hour, 8-hour, 6-hour, 3-hour, and 2-hour. And the logic and strategy that I use works across those time frame charts as well. More time frame charts now available. So there are a few things to answer your question about what is the best time frame, because it does depend. The answer is — it depends. It depends on you as an individual as well. What type of personality have you got? The other thing it depends on is the market conditions at the time right now. And for example, some weeks we take lots of 6-hour chart trades and other weeks we take lots of 12-hour chart trades. In other weeks we take lots of 2-hour chart trades. So it does depend on the currency pair or the market you're trading and the overall market conditions at that time, because it varies. Look at 5pm and 5am EST. So a way to get around that, because otherwise you're going to be looking at charts all the time — one of the suggestions I have is that if you have the time availability, you look at your charts once or twice a day. The two times that I think you're going to find some of the better opportunities would be 5 p.m. New York time. That means at the end of the trading day — so the start of the new trading day. And at that time you can look at the daily charts because obviously a daily chart closes and opens straight away into the next day. So you can analyze the closed daily chart and look at trades then. At that same time, we also go through and analyze and scan 12-hour, 8-hour, and 6-hour charts. And we post trades for our clients on those three time frames plus the daily charts. So that gives you four different time frame charts all by looking at the charts just at one time in the day. Now you don't need to be there at that time because the way that we trade, we use limit orders anyway. So you don't need to be there bang on 5 p.m. New York time every day. But you can go and look at those closes. And if you have the available time or ability, depending on where you live in the world, 5 a.m. New York time or after is a very good time as well because that means that the 12-hour charts, the 6-hour, the 4, the 3, the 2-hour, and even down to the 1-hour charts all change over at that exact same time. And again, it's a time that we personally find we get many good trading opportunities. So as an example, obviously there are two 12-hour changeovers in one day — 5 p.m. and 5 a.m. If you wanted to trade 8-hour charts, there are obviously up to three trading opportunities for you within the day. It doesn’t mean to say you’ve got to trade all three of them, but you could have a look at the close of 8-hour charts or 6-hour charts or 4-hour charts. So have a look at candle closes and you then therefore know when to look at your charts as well. So I would definitely say have a combination of different time frame charts because it does depend on the market conditions at the time. Look at 5pm and 5am EST. If you'd like to book a call with myself or one of the team, we’ve just made available a lot more times for you to book in a call with us. So I'll put a link here to our booking calendar where you can book in for an absolute no-pressure, no-obligation, free call with myself or one of the team to discuss your trading and see if we can help you. Blueberry Markets as a Forex Broker. And if you're out there looking for a very good broker that offers all those different time frame charts and multiple markets, especially on the MT5 platform, I'll put a link here. The Blueberry Markets — absolute top-notch customer service, great people to deal with, great charts, great spreads. Blueberry Markets — have a look at them if you're out there looking for a good forex broker as well. So that's it for this week. This is Andrew Mitchem here at The Forex Trading Coach. I'll see you this time next week. Bye for now. Episode Title: #616: Find the Best Time Frame for Trading Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass]]>https://theforextradingcoach.com/?p=19092Sun, 30 Nov 2025 12:52:24 +0000Andrew MitchemFind the Best Time Frame for Trading  Podcast:...Find out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Attend my Free Masterclass #616: Find the Best Time Frame for Trading In this video:
00:27 – Traders are confused over which time frame chart to trade.
01:25 – New traders give up.
01:42 – This changed my trading around.
02:43 – More time frame charts now available.
03:00 – What do you prefer and what are the market conditions doing?
03:36 – Look at 5pm and 5am EST.
05:42 – Book a time to chat with us.
06:04 – Blueberry Markets as a Forex Broker. Do you get confused with not knowing which time frame chart to trade, or when to look at your charts for a new trading opportunity? If that's you, listen up. I've got some great solutions for you. Hey there traders! It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 616. Traders are confused over which time frame chart to trade. So today I want to address a common problem that I find that a lot of traders have. And that is they don't know what time frame chart to trade. And also they don't know when to look at the charts. And there's a couple of real easy solutions and answers that I have for you. See, the issue that a lot of people have is when they start trading, everybody wants to take trades and lots of them because it's exciting and it's new. And of course, if you go to like a 15-minute chart or a five or even a one-minute chart, you're going to see the market moving and you think, “Oh, there are great opportunities here.” But of course, at that time you've got little idea about spreads. And if you take sell trades and the spread widens a bit in levels, it's going to take you out for a loss quite easily. But everybody kind of goes through it and they think they need to trade like five-minute charts and scalp. And it looks really cool and exciting. New traders give up. The issue becomes that you soon realize that either the spread’s taking you out and you're losing trades all the time, or you're getting glued to the charts and you become trigger happy, and then you become nervous and you don't know what you're doing, and you lose confidence and you give up. This changed my trading around. One of the things that changed my trading around some 20 years ago, nearly now, is I went the opposite way after falling for the short time frame trick. I went the opposite way. I went to a daily chart. I took all the indicators and everything off my chart, and I studied the daily charts. I found that the higher time frame charts were more reliable, gave me good information, far less stress, looked at the charts just once a day, news events don't really affect them, and it's far more enjoyable and far more rewarding. Your profitable trades are so much better and it just becomes a better thing to do. And when I made my strategy that I still trade today, I did start on daily charts. And then you can go higher time frames to like weekly and monthly. But also I then discovered that I got shorter time frames, you know, I go into like four hours and one-hour charts potentially, but not so much for me. You can trade it. More time frame charts now available. Now, of course, more recently we have the ability to trade charts like 12-hour, 8-hour, 6-hour, 3-hour, and 2-hour. And the logic and strategy that I use works across those time frame charts as...]]>393false1fullhttps://www.spreaker.com/episode/615-trade-smarter-bollinger-bands-made-easy--68704562https://theforextradingcoach.com/?p=19070Sun, 23 Nov 2025 12:00:14 +0000Andrew MitchemTrade Smarter: Bollinger Bands Made Easy  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #615:...398false1fullhttps://www.spreaker.com/episode/614-surround-yourself-with-successful-traders--68589595https://theforextradingcoach.com/?p=19048Sun, 16 Nov 2025 12:00:22 +0000Andrew MitchemSurround Yourself with Successful Traders  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Leave me...471false1fullhttps://www.spreaker.com/episode/613-making-extra-income-while-on-vacation-in-new-york-with-paul-tillman--68484857https://theforextradingcoach.com/?p=19031Sun, 09 Nov 2025 12:00:34 +0000Andrew MitchemMaking Extra Income While on Vacation in New York with Paul Tillman  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my...193false1fullhttps://www.spreaker.com/episode/612-find-out-what-s-blocking-your-trading-growth--68386806https://theforextradingcoach.com/?p=18974Sun, 02 Nov 2025 13:00:49 +0000Andrew MitchemFind Out What’s Blocking Your Trading Growth Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Leave...279false1fullhttps://www.spreaker.com/episode/611-daily-reversal-pattern-that-nailed-profit--68285285https://theforextradingcoach.com/?p=18951Sun, 26 Oct 2025 12:00:42 +0000Andrew MitchemDaily Reversal Pattern That Nailed Profit  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #611:...375false1fullhttps://www.spreaker.com/episode/610-stop-losing-learn-forex-the-right-way--68203310https://theforextradingcoach.com/?p=18872Sun, 19 Oct 2025 13:00:51 +0000Andrew MitchemStop Losing — Learn Forex the Right Way  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Click...436false1fullhttps://www.spreaker.com/episode/609-fundamentals-vs-technicals-which-drives-markets--68107773https://theforextradingcoach.com/?p=18850Sun, 12 Oct 2025 13:00:03 +0000Andrew MitchemFundamentals vs Technicals – Which Drives Markets  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass...503false1fullhttps://www.spreaker.com/episode/608-build-confidence-consistency-in-trading-with-diana-perkins-forex-coach-andrew-mitchem--68020335https://theforextradingcoach.com/?p=18826Sun, 05 Oct 2025 13:00:06 +0000Andrew MitchemBuild Confidence & Consistency in Trading with Diana Perkins & Forex Coach Andrew Mitchem  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his...2585false1fullhttps://www.spreaker.com/episode/607-trade-bitcoin-like-a-pro--67929958https://theforextradingcoach.com/?p=18782Sun, 28 Sep 2025 13:00:13 +0000Andrew MitchemTrade Bitcoin Like a Pro  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #607: Trade Bitcoin Like...360false1fullhttps://www.spreaker.com/episode/606-independent-wealth-trading-for-true-freedom--67839220https://theforextradingcoach.com/?p=18757Sun, 21 Sep 2025 13:00:05 +0000Andrew MitchemIndependent Wealth: Trading for True Freedom  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Click...469false1fullhttps://www.spreaker.com/episode/605-the-secret-to-better-forex-entries-revealed--67753305https://theforextradingcoach.com/?p=18673Sun, 14 Sep 2025 13:00:46 +0000Andrew MitchemThe Secret to Better Forex Entries Revealed  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass...303false1fullhttps://www.spreaker.com/episode/604-why-your-last-trade-doesn-t-matter-long-term-results-do--67662701https://theforextradingcoach.com/?p=18549Sun, 07 Sep 2025 12:00:31 +0000Andrew MitchemWhy Your Last Trade Doesn’t Matter—Long Term Results Do  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free...463false1fullhttps://www.spreaker.com/episode/603-the-hard-truth-about-trading-success--67571225https://theforextradingcoach.com/?p=18478Sun, 31 Aug 2025 12:00:04 +0000Andrew MitchemThe Hard Truth About Trading Success  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Click Here To...498false1fullhttps://www.spreaker.com/episode/602-the-freedom-of-trading-anywhere-anytime--67496165https://theforextradingcoach.com/?p=18452Sun, 24 Aug 2025 13:00:39 +0000Andrew MitchemThe Freedom of Trading Anywhere, Anytime  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Click...512false1fullhttps://www.spreaker.com/episode/601-why-quality-trades-beat-quantity-in-forex-trading--67401485https://theforextradingcoach.com/?p=18424Sun, 17 Aug 2025 13:00:23 +0000Andrew MitchemWhy Quality Trades Beat Quantity in Forex Trading  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass...277false1fullhttps://www.spreaker.com/episode/600-how-to-stay-profitable-in-any-market--67320120https://theforextradingcoach.com/?p=18400Sun, 10 Aug 2025 13:00:34 +0000Andrew MitchemHow to Stay Profitable in Any Market  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Click Here...373false1fullhttps://www.spreaker.com/episode/599-how-to-trade-in-5-minutes-a-day-while-traveling-the-u-s--67236729https://theforextradingcoach.com/?p=18346Sun, 03 Aug 2025 13:00:20 +0000Andrew MitchemHow to Trade in 5 Minutes a Day While Traveling the U.S  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free...246false1fullhttps://www.spreaker.com/episode/598-forex-tips-for-passive-investors-by-andrew-mitchem-patrick-grimes-steven-primo--67142345https://theforextradingcoach.com/?p=18289Sun, 27 Jul 2025 13:00:56 +0000Andrew MitchemForex Tips for Passive Investors by Andrew Mitchem, Patrick Grimes & Steven Primo  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click...4454false1fullhttps://www.spreaker.com/episode/597-trading-on-vacation-how-to-do-it-right--67044884https://theforextradingcoach.com/?p=18272Sun, 20 Jul 2025 13:00:04 +0000Andrew MitchemTrading on Vacation: How to Do It Right  Podcast: Sign Up to Watch My Trading Videos While Traveling in the US 30 Minute Forex Trader Updates (UK Travel) Find out more about Blueberry Markets – Click Here Find out more about my Online Video...351false1fullhttps://www.spreaker.com/episode/596-how-to-pass-prop-firm-challenges-with-andrew-mitchem-etienne-crete--67008465https://theforextradingcoach.com/?p=18249Sun, 13 Jul 2025 13:00:36 +0000Andrew MitchemHow to Pass Prop Firm Challenges with Andrew Mitchem & Etienne Crete  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to...1085false1fullhttps://www.spreaker.com/episode/595-join-me-as-i-trade-in-30-minutes-a-day-while-exploring-the-us--67008464https://theforextradingcoach.com/?p=18227Fri, 04 Jul 2025 21:00:57 +0000Andrew MitchemJoin Me as I Trade in 30 Minutes a Day While Exploring the US  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...251false1fullhttps://www.spreaker.com/episode/594-andrew-mitchem-and-marc-walton-top-5-forex-mistakes-how-to-avoid-them--67008473https://theforextradingcoach.com/?p=18188Fri, 27 Jun 2025 13:00:49 +0000Andrew MitchemAndrew Mitchem and Marc Walton: Top 5 Forex Mistakes & How to Avoid Them  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to...3089false1fullhttps://www.spreaker.com/episode/593-why-i-trade-coffee-cocoa-and-crypto-too--67008470https://theforextradingcoach.com/?p=18155Fri, 20 Jun 2025 13:00:41 +0000Andrew MitchemWhy I Trade Coffee, Cocoa, and Crypto Too  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #593:...419false1fullhttps://www.spreaker.com/episode/592-two-traders-talk-prop-firm-trading-mindset-and-lifestyle--67008474https://theforextradingcoach.com/?p=18118Fri, 13 Jun 2025 13:00:24 +0000Andrew MitchemTwo Traders Talk Prop Firm Trading, Mindset and Lifestyle  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...4288false1fullhttps://www.spreaker.com/episode/591-why-smart-traders-let-the-market-come-to-them--67008468https://theforextradingcoach.com/?p=18071Fri, 06 Jun 2025 13:00:41 +0000Andrew MitchemWhy Smart Traders Let the Market Come to Them  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...399false1fullhttps://www.spreaker.com/episode/590-what-every-struggling-trader-needs-to-hear-today--67008466https://theforextradingcoach.com/?p=18074Sun, 01 Jun 2025 11:40:10 +0000Andrew MitchemWhat Every Struggling Trader Needs to Hear Today  Podcast: Find out How We Can Help You Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to...266false1fullhttps://www.spreaker.com/episode/589-how-trading-the-candle-close-can-improve-your-results--67008475https://theforextradingcoach.com/?p=18051Sat, 24 May 2025 13:00:16 +0000Andrew MitchemHow Trading the Candle Close Can Improve Your Results  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...411false1fullhttps://www.spreaker.com/episode/588-what-you-must-know-before-using-ai-in-forex--67008476https://theforextradingcoach.com/?p=18031Sun, 18 May 2025 13:00:18 +0000Andrew MitchemWhat You MUST Know Before Using AI in Forex  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #588:...371false1fullhttps://www.spreaker.com/episode/587-how-this-one-forex-strategy-stood-the-test-of-time--67008477https://theforextradingcoach.com/?p=17985Sun, 04 May 2025 14:00:03 +0000Andrew MitchemHow This One Forex Strategy Stood the Test of Time  Podcast: Click Here to Signup For Our 16th Birthday Sale Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his...519false1fullhttps://www.spreaker.com/episode/586-how-to-trade-monthly-charts-for-massive-reward-risk-trades--67008469https://theforextradingcoach.com/?p=17953Sun, 27 Apr 2025 14:00:21 +0000Andrew MitchemHow to Trade Monthly Charts for Massive Reward:Risk Trades  Podcast: Click Here to Signup For Our 16th Birthday Sale Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one...456false1fullhttps://www.spreaker.com/episode/585-how-to-trade-market-crashes-caused-by-tariff-news--67008471https://theforextradingcoach.com/?p=17879Sun, 13 Apr 2025 13:00:53 +0000Andrew MitchemHow to Trade Market Crashes Caused by Tariff News  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...301false1fullhttps://www.spreaker.com/episode/584-how-to-trade-bigger-time-frames-with-a-small-account--67008479https://theforextradingcoach.com/?p=17828Sun, 06 Apr 2025 13:00:41 +0000Andrew MitchemHow to Trade Bigger Time Frames with a Small Account  Podcast: Click Here to Download my Lot Size Calculator Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his...423false1fullhttps://www.spreaker.com/episode/583-why-most-traders-fail-prop-firm-challenges-and-how-to-succeed--67008467https://theforextradingcoach.com/?p=17808Sun, 30 Mar 2025 13:00:49 +0000Andrew MitchemWhy Most Traders Fail Prop Firm Challenges and How to Succeed  Podcast: Click Here to Register My Upcoming Webinar - "Prop Firm Mastery: How To Get - And STAY - Funded... So You Can Transform Your Income In Just 30 Minutes A Day" Find out more...420false1fullhttps://www.spreaker.com/episode/582-how-to-avoid-useless-forex-indicators--67008478https://theforextradingcoach.com/?p=17791Sat, 22 Mar 2025 13:00:18 +0000Andrew MitchemHow to Avoid Useless Forex Indicators  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #582: How...354false1fullhttps://www.spreaker.com/episode/581-how-to-choose-the-best-forex-pairs-for-trading--67008480https://theforextradingcoach.com/?p=17764Sat, 15 Mar 2025 13:00:10 +0000Andrew MitchemHow to Choose the Best Forex Pairs for Trading  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...328false1fullhttps://www.spreaker.com/episode/580-what-s-more-important-win-rate-or-risk-reward--64775243https://theforextradingcoach.com/?p=17740Sun, 09 Mar 2025 12:00:10 +0000Andrew MitchemWhat’s More Important: Win Rate or Risk-Reward?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...384false1fullhttps://www.spreaker.com/episode/579-what-every-trader-needs-to-know-about-broker-time-settings--64656944https://theforextradingcoach.com/?p=17687Sun, 02 Mar 2025 13:00:26 +0000Andrew MitchemWhat Every Trader Needs to Know About Broker Time Settings  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...323false1fullhttps://www.spreaker.com/episode/578-top-5-forex-trading-mistakes-to-avoid--64525163https://theforextradingcoach.com/?p=17646Sun, 23 Feb 2025 13:00:52 +0000Andrew MitchemTop 5 Forex Trading Mistakes to Avoid  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #578: How...576false1fullhttps://www.spreaker.com/episode/577-how-to-avoid-common-forex-strategy-failures--64404295https://theforextradingcoach.com/?p=17594Sun, 16 Feb 2025 13:00:55 +0000Andrew MitchemHow to Avoid Common Forex Strategy Failures Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #577:...443false1fullhttps://www.spreaker.com/episode/576-how-indecision-candles-can-boost-your-trading-performance--64282540https://theforextradingcoach.com/?p=17511Sun, 09 Feb 2025 13:00:19 +0000Andrew MitchemHow Indecision Candles Can Boost Your Trading Performance Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...375false1fullhttps://www.spreaker.com/episode/575-how-to-trade-forex-in-under-30-minutes-a-day--64145258https://theforextradingcoach.com/?p=17502Sun, 02 Feb 2025 13:00:47 +0000Andrew MitchemHow to Trade Forex in Under 30 Minutes A Day  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...475false1fullhttps://www.spreaker.com/episode/574-what-to-do-when-timeframes-disagree-in-forex--63911775https://theforextradingcoach.com/?p=17486Sun, 26 Jan 2025 13:00:53 +0000Andrew MitchemWhat to Do When Timeframes Disagree in Forex Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #574:...394false1fullhttps://www.spreaker.com/episode/573-what-every-trader-needs-to-succeed-in-2025--63746847https://theforextradingcoach.com/?p=17470Wed, 01 Jan 2025 13:00:21 +0000Andrew MitchemWhat Every Trader Needs to Succeed in 2025 Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #573:...385false1fullhttps://www.spreaker.com/episode/572-forex-trading-tips-for-small-accounts--63327234https://theforextradingcoach.com/?p=17420Sun, 15 Dec 2024 14:00:13 +0000Andrew MitchemForex Trading Tips for Small Accounts Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #572: Forex...463false1fullhttps://www.spreaker.com/episode/571-why-strength-and-weakness-analysis-is-a-game-changer-as-a-forex-trader--63222680https://theforextradingcoach.com/?p=17402Sun, 08 Dec 2024 13:16:27 +0000Andrew MitchemWhy Strength and Weakness Analysis is a Game-Changer as a Forex Trader Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch...447false1fullhttps://www.spreaker.com/episode/570-every-trader-must-know-about-prop-firms--63082968https://theforextradingcoach.com/?p=17360Fri, 29 Nov 2024 14:00:43 +0000Andrew MitchemEvery Trader Must Know About Prop Firms  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...371false1fullhttps://www.spreaker.com/episode/569-how-to-trade-bitcoin-polkadot-and-dogecoin-safely--62986910https://theforextradingcoach.com/?p=17363Sun, 24 Nov 2024 13:26:53 +0000Andrew MitchemHow to Trade Bitcoin, Polkadot, and Dogecoin Safely  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...337false1fullhttps://www.spreaker.com/episode/568-why-the-us-election-results-matter-for-forex-traders--62681593https://theforextradingcoach.com/?p=17271Sun, 10 Nov 2024 14:00:41 +0000Andrew MitchemWhy the US Election Results Matter for Forex Traders  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...409false1fullhttps://www.spreaker.com/episode/567-how-to-know-if-forex-trading-is-right-for-you--62596332https://theforextradingcoach.com/?p=17242Sun, 03 Nov 2024 14:00:09 +0000Andrew MitchemHow to Know If Forex Trading Is Right for You  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...359false1fullhttps://www.spreaker.com/episode/566-how-to-trade-without-following-the-major-trading-sessions--62519501https://theforextradingcoach.com/?p=17219Sun, 27 Oct 2024 13:00:09 +0000Andrew MitchemHow to Trade Without Following the Major Trading Sessions Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...406false1fullhttps://www.spreaker.com/episode/565-why-trading-multiple-time-frames-boosts-your-forex-success--62431302https://theforextradingcoach.com/?p=17188Sat, 19 Oct 2024 14:00:25 +0000Andrew MitchemWhy Trading Multiple Time Frames Boosts Your Forex Success Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...500false1fullhttps://www.spreaker.com/episode/564-why-90-win-rate-systems-are-dangerous-for-forex-traders--62349917https://theforextradingcoach.com/?p=17147Sun, 13 Oct 2024 13:00:46 +0000Andrew MitchemWhy 90% Win Rate Systems Are Dangerous for Forex Traders  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...389false1fullhttps://www.spreaker.com/episode/563-how-to-capitalize-on-q4-forex-market-trends--62257389https://theforextradingcoach.com/?p=17074Sun, 06 Oct 2024 13:00:43 +0000Andrew MitchemHow to Capitalize on Q4 Forex Market Trends  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...409false1fullhttps://www.spreaker.com/episode/562-how-live-sessions-can-transform-your-trading--62153784https://theforextradingcoach.com/?p=17043Sun, 29 Sep 2024 12:00:26 +0000Andrew MitchemHow Live Sessions Can Transform Your Trading  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...394false1fullhttps://www.spreaker.com/episode/561-why-every-trader-should-consider-using-limit-orders--62066621https://theforextradingcoach.com/?p=16992Sun, 22 Sep 2024 13:00:58 +0000Andrew MitchemWhy Every Trader Should Consider Using Limit Orders  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...382false1fullhttps://www.spreaker.com/episode/560-what-makes-a-forex-trader-successful-top-5-traits--61730852https://theforextradingcoach.com/?p=16968Sun, 15 Sep 2024 14:00:10 +0000Andrew MitchemWhat Makes a Forex Trader Successful? Top 5 Traits  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...641false1fullhttps://www.spreaker.com/episode/559-how-to-fast-track-your-forex-trading-success--61301455https://theforextradingcoach.com/?p=16937Sun, 08 Sep 2024 13:00:18 +0000Andrew MitchemHow to Fast Track Your Forex Trading Success  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...488false1fullhttps://www.spreaker.com/episode/558-drinking-and-trading-coffee--61230342https://theforextradingcoach.com/?p=16916Sun, 01 Sep 2024 15:07:19 +0000Andrew MitchemDrinking and Trading Coffee  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #558: Drinking and...294false1fullhttps://www.spreaker.com/episode/557-why-you-should-never-risk-x-number-of-pips-per-trade--61146761https://theforextradingcoach.com/?p=16892Sun, 25 Aug 2024 13:00:03 +0000Andrew MitchemWhy you should never risk ‘x’ number of pips per trade  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...449false1fullhttps://www.spreaker.com/episode/556-how-to-read-the-forex-charts-like-a-pro--61069691https://theforextradingcoach.com/?p=16865Sun, 18 Aug 2024 13:00:21 +0000Andrew MitchemHow to Read the Forex Charts like a Pro  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass Click...360false1fullhttps://www.spreaker.com/episode/555-what-has-caused-the-large-recent-moves-in-the-markets--60979205https://theforextradingcoach.com/?p=16810Sat, 10 Aug 2024 13:00:58 +0000Andrew MitchemWhat has caused the large recent moves in the Markets?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm...400false1fullhttps://www.spreaker.com/episode/554-trader-makes-a-whopping-53-in-one-month--60917043https://theforextradingcoach.com/?p=16788Sun, 04 Aug 2024 13:00:34 +0000Andrew MitchemTrader makes a whopping +53% in one month  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass Click...358false1fullhttps://www.spreaker.com/episode/553-we-ve-made-a-13-2-account-gain-this-week--60836494https://theforextradingcoach.com/?p=16764Sun, 28 Jul 2024 13:00:28 +0000Andrew MitchemWe’ve Made a +13.2% Account Gain This Week  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass Click...395false1fullhttps://www.spreaker.com/episode/552-avoiding-confusion-in-your-trading--60757713https://theforextradingcoach.com/?p=16742Sun, 21 Jul 2024 14:00:26 +0000Andrew MitchemAvoiding Confusion In Your Trading  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass Click Here to...438false1fullhttps://www.spreaker.com/episode/551-what-markets-does-our-trading-strategy-work-on--60688523https://theforextradingcoach.com/?p=16719Sun, 14 Jul 2024 13:00:31 +0000Andrew MitchemWhat Markets Does Our Trading Strategy Work On?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...338false1fullhttps://www.spreaker.com/episode/550-why-you-should-be-a-fussy-trader--60625003https://theforextradingcoach.com/?p=16707Sun, 07 Jul 2024 13:00:21 +0000Andrew MitchemWhy You Should Be A Fussy Trader  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass Click Here to...356false1fullhttps://www.spreaker.com/episode/549-why-the-trading-tortoise-always-wins-the-race--60554940https://theforextradingcoach.com/?p=16690Sun, 30 Jun 2024 13:00:57 +0000Andrew MitchemWhy the Trading Tortoise Always Wins the Race  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass...307false1fullhttps://www.spreaker.com/episode/548-what-is-the-green-cross-code-of-trading--60479418https://theforextradingcoach.com/?p=16652Sun, 23 Jun 2024 13:00:13 +0000Andrew MitchemWhat is the Green Cross Code of Trading? Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass Click...273false1fullhttps://www.spreaker.com/episode/547-how-to-start-out-as-a-forex-trader--60177856https://theforextradingcoach.com/?p=16585Sun, 26 May 2024 13:00:47 +0000Andrew MitchemHow To Start Out as A Forex Trader  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass Click Here to...363false1fullhttps://www.spreaker.com/episode/546-i-m-not-a-fan-of-trading-ai-or-bots--59842604https://theforextradingcoach.com/?p=16494Sun, 05 May 2024 13:00:42 +0000Andrew MitchemI’m Not a Fan of Trading AI or Bots  Podcast: Find out more about Blueberry Markets – Click Here Click Here to Signup For Our 15th Birthday Sale #546: I’m Not a Fan of Trading AI or Bots In this video: 00:27 – Everyone is talking about AI and...370false1fullhttps://www.spreaker.com/episode/545-i-don-t-know-where-to-place-my-stop-loss--59683024https://theforextradingcoach.com/?p=16447Sun, 28 Apr 2024 13:00:13 +0000Andrew MitchemI Don’t Know Where to Place my Stop Loss  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to...447false1fullhttps://www.spreaker.com/episode/544-view-my-monthly-weekly-chart-trades--59574144https://theforextradingcoach.com/?p=16416Sun, 21 Apr 2024 13:00:21 +0000Andrew MitchemView my Monthly & Weekly Chart Trades Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to...544false1fullhttps://www.spreaker.com/episode/543-see-my-h6-chart-trades-in-action--59458313https://theforextradingcoach.com/?p=16364Sun, 14 Apr 2024 13:00:55 +0000Andrew MitchemSee my H6 Chart Trades in Action  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop...462false1fullhttps://www.spreaker.com/episode/542-i-ll-show-you-my-trades-why-we-took-them--59329742https://theforextradingcoach.com/?p=16342Sun, 07 Apr 2024 13:00:26 +0000Andrew MitchemI’ll Show You My Trades & Why We Took Them  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here...670false1fullhttps://www.spreaker.com/episode/541-how-to-make-hundreds-or-thousands-of-dollars-per-trade--59153964https://theforextradingcoach.com/?p=16305Sun, 24 Mar 2024 13:00:22 +0000Andrew MitchemHow to make Hundreds or Thousands of Dollars per Trade  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now...508false1fullhttps://www.spreaker.com/episode/540-how-to-survive-a-financial-crisis--59078028https://theforextradingcoach.com/?p=16277Sun, 17 Mar 2024 14:00:58 +0000Andrew MitchemHow to Survive a Financial Crisis  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop...635false1fullhttps://www.spreaker.com/episode/539-forex-trading-s-preflight-check-building-your-plan--58989376https://theforextradingcoach.com/?p=16246Sun, 10 Mar 2024 14:00:34 +0000Andrew MitchemForex Trading's Preflight Check: Building Your Plan  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click...346false1fullhttps://www.spreaker.com/episode/538-7-points-to-help-develop-your-own-trading-plan--58905467https://theforextradingcoach.com/?p=16227Sun, 03 Mar 2024 08:00:20 +0000Andrew Mitchem7 Points to Help Develop Your Own Trading Plan  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now...514false1fullhttps://www.spreaker.com/episode/537-the-realities-of-learning-how-to-trade--58813660https://theforextradingcoach.com/?p=16193Sun, 25 Feb 2024 06:00:01 +0000Andrew MitchemThe Realities of Learning How to Trade  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #537: The...429false1fullhttps://www.spreaker.com/episode/536-should-you-trade-only-the-major-forex-pairs--58720669https://theforextradingcoach.com/?p=16156Sun, 18 Feb 2024 06:00:19 +0000Andrew MitchemShould You Trade Only the Major Forex Pairs?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click...386false1fullhttps://www.spreaker.com/episode/535-what-s-a-sensible-amount-of-risk-to-take-per-trade--58645844https://theforextradingcoach.com/?p=16122Sun, 11 Feb 2024 12:00:58 +0000Andrew MitchemWhat’s a Sensible Amount of Risk to Take per Trade  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now...340false1fullhttps://www.spreaker.com/episode/534-the-one-secret-to-becoming-a-successful-trader--58563652https://theforextradingcoach.com/?p=16101Sun, 04 Feb 2024 12:00:24 +0000Andrew MitchemThe One Secret to Becoming a Successful Trader  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #534:...427false1fullhttps://www.spreaker.com/episode/533-trading-full-time-in-30-minutes-a-day--58478721https://theforextradingcoach.com/?p=16083Sun, 28 Jan 2024 12:00:04 +0000Andrew MitchemTrading Full Time in 30 Minutes a Day  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #532: Trading...384false1fullhttps://www.spreaker.com/episode/532-making-2024-the-year-you-become-a-successful-forex-trader--58392148https://theforextradingcoach.com/?p=16057Sun, 21 Jan 2024 12:00:17 +0000Andrew MitchemMaking 2024 The Year You Become a Successful Forex Trader  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team...394false1fullhttps://www.spreaker.com/episode/531-2023-trading-year-review--58035135https://theforextradingcoach.com/?p=16017Sun, 17 Dec 2023 11:01:10 +0000Andrew Mitchem2023 Trading Year Review  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #531: 2023 Trading Year Review...342false1fullhttps://www.spreaker.com/episode/530-an-interview-with-the-5-ers-prop-firm--57968575https://theforextradingcoach.com/?p=15993Sun, 10 Dec 2023 08:00:22 +0000Andrew MitchemAn Interview with The 5%ers Prop Firm  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Visit The5%ers...871false1fullhttps://www.spreaker.com/episode/529-what-s-the-difference-between-a-pin-bar-and-a-hanging-man--57890374https://theforextradingcoach.com/?p=15979Sun, 03 Dec 2023 08:00:05 +0000Andrew MitchemWhat’s the Difference Between a Pin Bar and a Hanging Man?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team...358false1fullhttps://www.spreaker.com/episode/528-good-trading-does-not-need-to-be-complicated--57809018https://theforextradingcoach.com/?p=15963Sun, 26 Nov 2023 08:00:48 +0000Andrew MitchemGood Trading Does NOT Need to be Complicated  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #528: Good...314false1fullhttps://www.spreaker.com/episode/527-how-a-client-made-a-7-1-reward-risk-trade-in-under-1-hour--57708425https://theforextradingcoach.com/?p=15939Sun, 19 Nov 2023 08:00:39 +0000Andrew MitchemHow a Client Made a 7:1 Reward:Risk Trade in under 1 Hour  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now...329false1fullhttps://www.spreaker.com/episode/526-slow-steady-wins-the-day--57603599https://theforextradingcoach.com/?p=15920Sun, 12 Nov 2023 10:00:43 +0000Andrew MitchemFrom Brand New to Trading on a Prop Firm within 3 Months  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now...343false1fullhttps://www.spreaker.com/episode/525-from-brand-new-to-trading-on-a-prop-firm-within-3-months--57528294https://theforextradingcoach.com/?p=15883Mon, 06 Nov 2023 06:15:06 +0000Andrew MitchemFrom Brand New to Trading on a Prop Firm within 3 Months Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now...307false1fullhttps://www.spreaker.com/episode/525-from-brand-new-to-trading-on-a-prop-firm-within-3-months--57517975https://theforextradingcoach.com/?p=15857Sun, 05 Nov 2023 08:00:53 +0000Andrew MitchemFrom Brand New to Trading on a Prop Firm within 3 Months  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now...307false1fullhttps://www.spreaker.com/episode/524-are-you-getting-stopped-out-all-of-the-time--57428653https://theforextradingcoach.com/?p=15833Sun, 29 Oct 2023 08:00:16 +0000Andrew MitchemAre You Getting Stopped Out All Of the Time?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #524: Are You...276false1fullhttps://www.spreaker.com/episode/523-adapting-your-trading-strategy-to-the-current-market-conditions--57340737https://theforextradingcoach.com/?p=15817Sun, 22 Oct 2023 08:00:42 +0000Andrew MitchemAdapting Your Trading Strategy to the Current Market Conditions  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his...361false1fullhttps://www.spreaker.com/episode/522-why-sell-a-successful-trading-strategy--57238702https://theforextradingcoach.com/?p=15799Sun, 15 Oct 2023 08:00:21 +0000Andrew MitchemWhy Sell a Successful Trading Strategy?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #522: Why Sell a...551false1fullhttps://www.spreaker.com/episode/521-why-a-90-winning-system-is-a-bad-idea--57151740https://theforextradingcoach.com/?p=15787Sun, 08 Oct 2023 08:00:55 +0000Andrew MitchemWhy a 90% Winning System is a Bad Idea  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #521: Why a 90%...350false1fullhttps://www.spreaker.com/episode/520-why-i-ignore-the-news--57012166https://theforextradingcoach.com/?p=15724Sun, 01 Oct 2023 08:00:01 +0000Andrew MitchemWhy I Ignore the News Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #520: Why I Ignore the News In this...386false1fullhttps://www.spreaker.com/episode/519-divergence-trading-in-the-forex-market--56822919https://theforextradingcoach.com/?p=15662Sat, 16 Sep 2023 16:00:30 +0000Andrew MitchemDivergence Trading in the Forex Market  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #519: Divergence...271false1fullhttps://www.spreaker.com/episode/518-are-you-emotional-or-erratic--56750836https://theforextradingcoach.com/?p=15647Sun, 10 Sep 2023 08:00:22 +0000Andrew MitchemAre You Emotional or Erratic?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #518: Are You Emotional or...330false1fullhttps://www.spreaker.com/episode/517-big-benefits-to-trading-the-longer-timeframe-charts--56673332https://theforextradingcoach.com/?p=15618Sun, 03 Sep 2023 08:00:13 +0000Andrew MitchemBig Benefits to Trading the Longer Timeframe Charts  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #517:...330false1fullhttps://www.spreaker.com/episode/516-how-to-trade-crypto-s-indices-and-the-commodity-markets--56603826https://theforextradingcoach.com/?p=15597Sun, 27 Aug 2023 12:00:22 +0000Andrew MitchemHow to Trade Crypto’s, Indices and the Commodity Markets  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now...327false1fullhttps://www.spreaker.com/episode/515-prop-firms-have-been-a-game-changer--56526458https://theforextradingcoach.com/?p=15588Sun, 20 Aug 2023 12:00:21 +0000Andrew MitchemProp Firms Have Been a Game Changer  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Find out more about...380false1fullhttps://www.spreaker.com/episode/514-how-to-successfully-trade-the-5-minute-charts--56457907https://theforextradingcoach.com/?p=15579Sun, 13 Aug 2023 21:18:00 +0000Andrew MitchemHow To Successfully Trade the 5 Minute Charts  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #514: How To...330false1fullhttps://www.spreaker.com/episode/513-social-media-cannot-teach-you-to-trade--56382629https://theforextradingcoach.com/?p=15549Sun, 06 Aug 2023 09:01:00 +0000Andrew MitchemSocial Media Cannot Teach You to Trade Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #513: Social Media Cannot Teach You to Trade In this video: 00:30 –...314false1fullhttps://www.spreaker.com/episode/512-when-all-you-want-is-results--56306205https://theforextradingcoach.com/?p=15512Sun, 30 Jul 2023 12:00:38 +0000Andrew MitchemWhen All You Want is Results  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #512: When All You Want is Results In this video: 00:31 – Another great...336false1fullhttps://www.spreaker.com/episode/511-has-your-income-exceeded-the-rise-in-the-cost-of-living--56189288https://theforextradingcoach.com/?p=15501Sun, 23 Jul 2023 12:00:00 +0000Andrew MitchemHas Your Income Exceeded the Rise in the Cost of Living?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Find out more about FX2Funding #511: Has Your...452false1fullhttps://www.spreaker.com/episode/510-has-the-us-dollar-crashed--56118146https://theforextradingcoach.com/?p=15494Sun, 16 Jul 2023 12:00:04 +0000Andrew MitchemHas the US Dollar Crashed?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #510: Has the US Dollar Crashed? In this video: 00:24 – The recent US Dollar...350false1fullhttps://www.spreaker.com/episode/509-my-typical-trading-day-as-a-full-time-forex-trader--56043558https://theforextradingcoach.com/?p=15485Sun, 09 Jul 2023 12:00:13 +0000Andrew MitchemMy Typical Trading Day as a Full Time Forex Trader  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #509: My Typical Trading Day as a Full Time Forex...502false1fullhttps://www.spreaker.com/episode/508-5-reasons-why-good-education-is-the-cheapest-investment-in-yourself--55774230https://theforextradingcoach.com/?p=15471Sun, 02 Jul 2023 12:00:09 +0000Andrew Mitchem5 Reasons Why Good Education is the Cheapest Investment in Yourself Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #508: 5 Reasons Why Good Education is...441false1fullhttps://www.spreaker.com/episode/507-what-s-size-should-your-stop-loss-be--54975024https://theforextradingcoach.com/?p=15463Sun, 25 Jun 2023 12:00:39 +0000Andrew Mitchem What’s Size Should Your Stop Loss Be?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #507: What’s Size Should Your Stop Loss Be? In this video: 00:23 –...306false1fullhttps://www.spreaker.com/episode/506-what-s-the-best-trading-session--54498295https://theforextradingcoach.com/?p=15455Sun, 18 Jun 2023 14:00:57 +0000Andrew MitchemWhat’s the Best Trading Session?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #506: What’s the Best Trading Session? In this video: 00:38 – Which is...318false1fullhttps://www.spreaker.com/episode/505-how-to-avoid-spending-hours-watching-the-charts--54246369https://theforextradingcoach.com/?p=15444Sun, 11 Jun 2023 12:00:51 +0000Andrew MitchemHow to Avoid Spending Hours Watching the Charts? Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #505: How to Avoid Spending Hours Watching the Charts? In...398false1fullhttps://www.spreaker.com/episode/504-do-you-lack-a-clear-trading-strategy--54089583https://theforextradingcoach.com/?p=15435Sun, 04 Jun 2023 12:00:41 +0000Andrew MitchemDo You Lack a Clear Trading Strategy?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #504: Do You Lack a Clear Trading Strategy? In this video: 00:26...423false1fullhttps://www.spreaker.com/episode/503-trading-does-fear-prevent-you-from-being-profitable--54021640https://theforextradingcoach.com/?p=15426Sun, 28 May 2023 12:00:18 +0000Andrew MitchemTrading – Does FEAR Prevent You from Being Profitable?  Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #503: Trading – Does FEAR Prevent You from Being...405false1fullhttps://www.spreaker.com/episode/502-celebrating-14-years-of-helping-traders-worldwide--53856171https://theforextradingcoach.com/?p=15407Sun, 14 May 2023 12:00:27 +0000Andrew MitchemCelebrating 14 Years of Helping Traders Worldwide  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Signup For my 14th Birthday Sale #502: Celebrating 14 Years of Helping Traders Worldwide...285false1fullhttps://www.spreaker.com/episode/501-learn-how-to-pass-a-prop-firm-challenge--53764624https://theforextradingcoach.com/?p=15393Sun, 07 May 2023 12:00:20 +0000Andrew MitchemLearn How to Pass a Prop Firm Challenge  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my Forex Training Masterclass #501: Learn How to Pass a Prop Firm Challenge In this video:...469false1fullhttps://www.spreaker.com/episode/500-lessons-from-my-20-years-as-a-forex-trader--53695638https://theforextradingcoach.com/?p=15378Sun, 30 Apr 2023 12:00:34 +0000Andrew MitchemLessons from my 20 years as a Forex Trader  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my Forex Training Masterclass #500: Lessons from my 20 years as a Forex Trader In this...475false1fullhttps://www.spreaker.com/episode/499-why-schools-will-never-teach-trading--53620148https://theforextradingcoach.com/?p=15357Sun, 23 Apr 2023 12:00:50 +0000Andrew MitchemWhy Schools Will Never Teach Trading  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my Forex Training Masterclass #499: Why Schools Will Never Teach Trading In this video: 00:29 –...330false1fullhttps://www.spreaker.com/episode/498-why-trading-for-30-minutes-a-day-is-better-than-trading-for-8-hours-a-day--53550353https://theforextradingcoach.com/?p=15332Sun, 16 Apr 2023 12:00:39 +0000Andrew MitchemWhy Trading for 30 Minutes a Day is Better than Trading for 8 Hours a Day  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my Forex Training Masterclass #498: Why Trading for 30...374false1fullhttps://www.spreaker.com/episode/497-what-makes-a-good-forex-trader--53417306https://theforextradingcoach.com/?p=15171Sun, 02 Apr 2023 12:00:52 +0000Andrew MitchemWhat Makes a Good Forex Trader?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my webinar for new traders Join my webinar for the more experienced trader #497: What Makes a...303false1fullhttps://www.spreaker.com/episode/496-learning-to-grow-as-a-trader--53341119https://theforextradingcoach.com/?p=15157Sun, 26 Mar 2023 12:00:02 +0000Andrew MitchemLearning to Grow as a Trader  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my webinar for new traders Join my webinar for the more experienced trader #496: Learning to Grow as...247false1fullhttps://www.spreaker.com/episode/495-how-long-does-it-take-to-become-a-profitable-trader--53257171https://theforextradingcoach.com/?p=15132Sun, 19 Mar 2023 12:00:21 +0000Andrew MitchemHow Long Does it Take to Become a Profitable Trader?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my webinar for new traders Join my webinar for the more experienced trader...398false1fullhttps://www.spreaker.com/episode/494-how-to-calculate-the-correct-lot-size--53172586https://theforextradingcoach.com/?p=15113Sun, 12 Mar 2023 12:00:49 +0000Andrew MitchemHow to Calculate the Correct Lot Size  Podcast: TFTC Lot Size Calculator Script Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my webinar for new traders Join my webinar for the more...386false1fullhttps://www.spreaker.com/episode/493-which-trading-session-should-you-trade--53099803https://theforextradingcoach.com/?p=15090Sun, 05 Mar 2023 12:00:30 +0000Andrew MitchemWhich Trading Session Should You Trade?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Join my webinar for new traders Join my webinar for the more experienced trader #493: Which...352false1fullhttps://www.spreaker.com/episode/492-how-to-pass-a-prop-firm-challenge--52854783 
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#492: How to Pass a Prop Firm Challenge
In this video:
00:30 – Everyone wants to trade through a prop firm 
01:15 – They don’t just hand out money
02:31 – You must preserve capital
03:50 – Don’t use a prop firm who insists on a time limit
04:58 – Trade a variety of markets and time frame charts
05:38 – Do not rush your trading
06:04 – Use a strategy with high reward:risk trades
07:02 - Use Blueberry Markets if you want a good broker
07:39 – Like & Subscribe and leave a comment
08:16 – Ensure you are profitable first before opening a prop firm account

In this week's video and podcast, I'm going to give you some important tips of how you can pass a firm challenge and therefore make substantial gains for yourself from the Forex market. Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 492.

Everyone wants to trade through a prop firm 

So everybody's talking prop firms right now, aren't they? You know, it's the big thing. It's a way that you as a trader do not need to put large amounts of cash or capital into your own trading accounts, whether you've got lots of money or whether you got no money. It does not matter these days because prop firms are there to help us to gain really good incomes through trading the markets, the forex market and other markets.

So what is a prop firm if you've not heard of a prop firm, it's basically a firm out there online are lots of them. As always, there are a few good ones and there's probably lots of not so good ones. So be selective. But basically it's a firm that will allow you to trade on their capital for a profit share.

They don’t just hand out money

Now, of course, they're not just going to go randomly giving out hundreds of thousands of dollars to people. They have no proof of bad. So there's a charge to do it naturally. And also for most of them, there is a challenge to get through first on a demo account for maybe one or two challenges, depending on the level that you enter the challenge.

And before you can go into real money. However, we have some traders here at the Forex Trading Coach, some of our clients who are on substantial figures of $750,000 USD and more, and they are making incredibly good income through trading the prop firms and bypassing the different challenges. So think of it, if it was your capital, what's the most important thing you'd like to know?

Well, of course you want to know. Can that trade are actual Trade. But also, are they a good trader and can they preserve my capital? That's really what it's about. It's all well and good saying. “I've got a system with a 90% win rate or I've made 50% on my account last week”. But probably if you're doing that, you're gambling, you don't know what you're doing and you will almost certainly fail the prop firm challenges. So in order to pass a prop firm successfully,]]>https://theforextradingcoach.com/?p=15070Sun, 26 Feb 2023 12:00:09 +0000Andrew MitchemHow to Pass a Prop Firm Challenge  Podcast: https://bit.ly/3sK8pKU https://theforextradingcoach.com/online_video_coaching_forex_course.html https://webinar.theforextradingcoach.com/s/Y3iOuo https://webinar.theforextradingcoach.com/s/o9uodN #492:... 
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Join my webinar for new traders
Join my webinar for the more experienced trader
#492: How to Pass a Prop Firm Challenge
In this video:
00:30 – Everyone wants to trade through a prop firm 
01:15 – They don’t just hand out money
02:31 – You must preserve capital
03:50 – Don’t use a prop firm who insists on a time limit
04:58 – Trade a variety of markets and time frame charts
05:38 – Do not rush your trading
06:04 – Use a strategy with high reward:risk trades
07:02 - Use Blueberry Markets if you want a good broker
07:39 – Like & Subscribe and leave a comment
08:16 – Ensure you are profitable first before opening a prop firm account

In this week's video and podcast, I'm going to give you some important tips of how you can pass a firm challenge and therefore make substantial gains for yourself from the Forex market. Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 492.

Everyone wants to trade through a prop firm 

So everybody's talking prop firms right now, aren't they? You know, it's the big thing. It's a way that you as a trader do not need to put large amounts of cash or capital into your own trading accounts, whether you've got lots of money or whether you got no money. It does not matter these days because prop firms are there to help us to gain really good incomes through trading the markets, the forex market and other markets.

So what is a prop firm if you've not heard of a prop firm, it's basically a firm out there online are lots of them. As always, there are a few good ones and there's probably lots of not so good ones. So be selective. But basically it's a firm that will allow you to trade on their capital for a profit share.

They don’t just hand out money

Now, of course, they're not just going to go randomly giving out hundreds of thousands of dollars to people. They have no proof of bad. So there's a charge to do it naturally. And also for most of them, there is a challenge to get through first on a demo account for maybe one or two challenges, depending on the level that you enter the challenge.

And before you can go into real money. However, we have some traders here at the Forex Trading Coach, some of our clients who are on substantial figures of $750,000 USD and more, and they are making incredibly good income through trading the prop firms and bypassing the different challenges. So think of it, if it was your capital, what's the most important thing you'd like to know?

Well, of course you want to know. Can that trade are actual Trade. But also, are they a good trader and can they preserve my capital? That's really what it's about. It's all well and good saying. “I've got a system with a 90% win rate or I've made 50% on my account last week”. But probably if you're doing that, you're gambling, you don't know what you're doing and you will almost certainly fail the prop firm challenges. So in order to pass a prop firm successfully,]]>533false1fullhttps://www.spreaker.com/episode/491-how-to-trade-crypto-s-safely--52780477 
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Join my webinar for new traders
Join my webinar for the more experienced trader
#491: How to Trade Crypto’s Safely
In this video:
00:32 – How we made +2% on Bitcoin 
00:49 – Most people are losing money buying Cryptos
01:59 – Here’s my trade on the daily chart and why
04:16 – Litecoin also hits the profit target for 1.5% gain
04:48 – Making money from crypto safely
05:50 – Consider Blueberry Markets if you’re looking for a good broker
07:03 – Get onto one of my webinars and find out about our coaching course

I'm going to share with you how we trade cryptos using a very low risk safe way, and also how yesterday I made over a 2% gain on my account just trading Bitcoin on one trade. Let's get into that and more right now.

Hey there, forex traders! Andrew Mitchem here at the Forex Trading Couch with video and podcast number 491.

How we made +2% on Bitcoin 

And I'm going to explain today on this video podcast how we trade cryptos and how just yesterday on one trade on Bitcoin, I made over a 2% gain with only a half percent risk on my account. So let's get started.

Most people are losing money buying Cryptos

Well, Bitcoin, cryptos in general. Well, look, probably like yourself. I know a lot of people who have invested in them over the years and I know a lot of people, the vast majority who have either lost money or currently losing money by trading cryptos kind of more the traditional, if you could call it that on such a new market, but more the traditional approach.

Now, a lot of people that I know are still massively in loss because they got into cryptos like about a year ago, so that early to mid 2022, the price had come down a bit. It was a sort of 40 odd thousand dollars for Bitcoin. And and everybody said it's going to head up to 100,000 and beyond.

So a lot of people kind of got into it. And those people have been absolutely stunning because, you know, it's come all the way down to around that sort of 15, 16,000 level and now it's starting to head back up again. But all of that in using the way that we trade, it's kind of irrelevant because, of course, as traders, we can go long and short so we can buy and sell. So that becomes your first advantage.

Here’s my trade on the daily chart and why

But I want to give you a specific trade that I took just yesterday. So if you go and have a look at Tuesday, the 14th of February 2023, Daily Candle on Bitcoin. Have a look at that. And it was taken Wednesday the 15th and I'm recording this on Thursday the 16th. So go and have a look at the trade that we took yesterday based on the Tuesday's close on the daily chart Bitcoin BTC/USD.

Have a look at that. You will see on your charts there. That there was a perfect bounce off the swing high from the 5th of November 2022. So back on the 5th of November the market went up, it formed a high and it dropped again. The market is then gone over that level and come back to that level and then using the Tuesdays candle,]]>https://theforextradingcoach.com/?p=15051Sun, 19 Feb 2023 12:00:32 +0000Andrew MitchemHow to Trade Crypto’s Safely  Podcast: https://bit.ly/3sK8pKU https://theforextradingcoach.com/online_video_coaching_forex_course.html https://webinar.theforextradingcoach.com/s/Y3iOuo https://webinar.theforextradingcoach.com/s/o9uodN #491: How... 
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Join my webinar for new traders
Join my webinar for the more experienced trader
#491: How to Trade Crypto’s Safely
In this video:
00:32 – How we made +2% on Bitcoin 
00:49 – Most people are losing money buying Cryptos
01:59 – Here’s my trade on the daily chart and why
04:16 – Litecoin also hits the profit target for 1.5% gain
04:48 – Making money from crypto safely
05:50 – Consider Blueberry Markets if you’re looking for a good broker
07:03 – Get onto one of my webinars and find out about our coaching course

I'm going to share with you how we trade cryptos using a very low risk safe way, and also how yesterday I made over a 2% gain on my account just trading Bitcoin on one trade. Let's get into that and more right now.

Hey there, forex traders! Andrew Mitchem here at the Forex Trading Couch with video and podcast number 491.

How we made +2% on Bitcoin 

And I'm going to explain today on this video podcast how we trade cryptos and how just yesterday on one trade on Bitcoin, I made over a 2% gain with only a half percent risk on my account. So let's get started.

Most people are losing money buying Cryptos

Well, Bitcoin, cryptos in general. Well, look, probably like yourself. I know a lot of people who have invested in them over the years and I know a lot of people, the vast majority who have either lost money or currently losing money by trading cryptos kind of more the traditional, if you could call it that on such a new market, but more the traditional approach.

Now, a lot of people that I know are still massively in loss because they got into cryptos like about a year ago, so that early to mid 2022, the price had come down a bit. It was a sort of 40 odd thousand dollars for Bitcoin. And and everybody said it's going to head up to 100,000 and beyond.

So a lot of people kind of got into it. And those people have been absolutely stunning because, you know, it's come all the way down to around that sort of 15, 16,000 level and now it's starting to head back up again. But all of that in using the way that we trade, it's kind of irrelevant because, of course, as traders, we can go long and short so we can buy and sell. So that becomes your first advantage.

Here’s my trade on the daily chart and why

But I want to give you a specific trade that I took just yesterday. So if you go and have a look at Tuesday, the 14th of February 2023, Daily Candle on Bitcoin. Have a look at that. And it was taken Wednesday the 15th and I'm recording this on Thursday the 16th. So go and have a look at the trade that we took yesterday based on the Tuesday's close on the daily chart Bitcoin BTC/USD.

Have a look at that. You will see on your charts there. That there was a perfect bounce off the swing high from the 5th of November 2022. So back on the 5th of November the market went up, it formed a high and it dropped again. The market is then gone over that level and come back to that level and then using the Tuesdays candle,]]>473false1fullhttps://www.spreaker.com/episode/490-3-tips-to-instantly-improve-your-trading-results--52707790 
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Join my webinar for new traders
Join my webinar for the more experienced trader
Download my MT4/MT5 Risk Calculator
#490: 3 Tips to Instantly Improve Your Trading Results
In this video:
00:27 – 3 Trading Tips for you
00:55 - #1 Declutter your charts
02:40 – #2 Get onto the higher time frame charts
05:25 – #3 Control your risk and drawdowns
08:05 – Let’s recap the 3 trading tips
08:23 – Join one of my free webinars

I'm going to give you three trading tips which you can implement today. And these tips will massively improve your trading results. So let's get into it right now.

Hey, there traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 490.

3 Trading Tips for you

And I want to give you a three tips today, which if you implement them today in your trading, they will, without doubt, improve your trading results.

And you will know if you've been trading for any length of time that you see out there, that 90 to 95% of all traders lose money. Why is that? Well, it's because most people fail on these points.

#1 Declutter your charts

So let's talk about point number one. So the first thing you can do to help improve your trading results is to declutter your charts.

More than likely, you will have lines and indicators and dots and arrows and squiggly lines and all over charts. And the brokers are incredibly good at promoting indicators. And when you go on to most forum sites out there, they are incredibly good at giving you strategies and formulas which involve far too many indicators. And basically most indicators out there lag time and they can only draw plot something on your charts from historical data.

And that's the problem. They're all a combination may be slightly more reactive or slightly slower, but ultimately what they do is tell you what's already happened and just plot it on your chart in a in a nice pretty form with a few lines and dots, etc.. The problem is, is that most people get completely naturally confused and they get convinced that what those lines tell you is how you should trade.

And that has a number of problems in that everybody seems to think they're going to find the holy grail of combinations of different time settings, etc. And when this line crosses that line, then the dot appears up here. That's how you trade in when you should trade. The problem is, is that, of course, takes away all the skill of trading.

It takes away from looking at what's happening in the market. It avoids you looking at the price and the really important that you should look at the price on the right hand side of the chart, because that's the most important thing. It takes away you looking at currency strength and weakness. It takes away all those skills that you need to be a good trader. So the first point would be de-clutter your charts.]]>https://theforextradingcoach.com/?p=15030Sun, 12 Feb 2023 12:00:49 +0000Andrew Mitchem3 Tips to Instantly Improve Your Trading Results  Podcast: https://bit.ly/3sK8pKU https://theforextradingcoach.com/online_video_coaching_forex_course.html https://webinar.theforextradingcoach.com/s/Y3iOuo... 
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Join my webinar for new traders
Join my webinar for the more experienced trader
Download my MT4/MT5 Risk Calculator
#490: 3 Tips to Instantly Improve Your Trading Results
In this video:
00:27 – 3 Trading Tips for you
00:55 - #1 Declutter your charts
02:40 – #2 Get onto the higher time frame charts
05:25 – #3 Control your risk and drawdowns
08:05 – Let’s recap the 3 trading tips
08:23 – Join one of my free webinars

I'm going to give you three trading tips which you can implement today. And these tips will massively improve your trading results. So let's get into it right now.

Hey, there traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 490.

3 Trading Tips for you

And I want to give you a three tips today, which if you implement them today in your trading, they will, without doubt, improve your trading results.

And you will know if you've been trading for any length of time that you see out there, that 90 to 95% of all traders lose money. Why is that? Well, it's because most people fail on these points.

#1 Declutter your charts

So let's talk about point number one. So the first thing you can do to help improve your trading results is to declutter your charts.

More than likely, you will have lines and indicators and dots and arrows and squiggly lines and all over charts. And the brokers are incredibly good at promoting indicators. And when you go on to most forum sites out there, they are incredibly good at giving you strategies and formulas which involve far too many indicators. And basically most indicators out there lag time and they can only draw plot something on your charts from historical data.

And that's the problem. They're all a combination may be slightly more reactive or slightly slower, but ultimately what they do is tell you what's already happened and just plot it on your chart in a in a nice pretty form with a few lines and dots, etc.. The problem is, is that most people get completely naturally confused and they get convinced that what those lines tell you is how you should trade.

And that has a number of problems in that everybody seems to think they're going to find the holy grail of combinations of different time settings, etc. And when this line crosses that line, then the dot appears up here. That's how you trade in when you should trade. The problem is, is that, of course, takes away all the skill of trading.

It takes away from looking at what's happening in the market. It avoids you looking at the price and the really important that you should look at the price on the right hand side of the chart, because that's the most important thing. It takes away you looking at currency strength and weakness. It takes away all those skills that you need to be a good trader. So the first point would be de-clutter your charts.]]>554false1fullhttps://www.spreaker.com/episode/489-does-your-strategy-work-across-all-time-frame-charts-all-markets--52641144 
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#489: Does Your Strategy Work Across All Time Frame Charts & All Markets?
In this video:
00:24 – Don’t use a strategy that only works on one time frame chart
00:57 – Things that experience bring
01:33 – The strategy that I developed 17 years ago and still use today
02:58 – Candle Patterns and Price
03:10 – Real life examples from this year
03:50 – H2 EUR/USD makes a 4:1 Reward:Risk
05:13 – The power of a trading community

Your trading strategy, if it's a good strategy, should work across all timeframe charts and all markets. Let me explain more. Right now
Hey there, traders. It's Andrew MItchem here, the Forex trading coach for video on podcast number 489.
Don’t use a strategy that only works on one time frame chart
Now, one of the things that fascinated me when I started trading almost 20 years ago was I would buy systems or view systems online or buy books, and people would say, Hey, this system's really good. It's fantastic, guaranteed to work, which of course it's not.
But you know, it's getting to work and you should only apply it on the pound US dollar or you should only apply it on 15 minute timeframe charts or five minute time frame charts. And I can never really understand why that was. But when you knew you kind of take on board what people say and they develop the systems, you kind of go with it.
Things that experience bring
It's not until you develop some time, strategies, knowledge, experience, and I have your ups and downs that you go through. Do you actually realize that that's not a good way of trading? But she soon find out that over optimizing and curve fitting, although it may look good in hindsight and you can make results, historical results look absolutely incredible.
You soon get to find out and realize that the reality is that that kind of over optimizing and curve fitting does never work in the real market going forward or doesn't work consistently well.
The strategy that I developed 17 years ago and still use today
And so when I developed my own strategy, which we're now talking about sort of 17 plus years ago, by the time I've been through the ups and downs of following other people and I wanted something that was real, that was going to work across all timeframe, charts, all currency pairs and all trading conditions, because you never know when you're going to be in trending markets or rangebound markets.
You just don't know in advance, of course. And now what we developed as we go into more and more markets available to us, we have more markets available to us, especially on MT5, is of course we can now trade into the crypto markets, the commodities, indices, metals and so the fantastic thing that I love about my strategy is not only does it work across all different timeframe charts and by the way, if you're on MT5, you know how easy it is now to put on like six hour charts or two hour, six hour, eight hour, 12 hour charts, which of course in MT4 days we didn't really have so much availability to those charts.
So not only does the strategy today were equally as well across all timeframe charts, we have a lot more forex pairs in play. You know, we've got some like Euro/Mexican and we've got, you know, US/Singapore and we've got Thai and we've got and you know, pesos where all these markets that a few years ago we didn't have access to...]]>https://theforextradingcoach.com/?p=15021Sun, 05 Feb 2023 12:00:57 +0000Andrew MitchemDoes Your Strategy Work Across All Time Frame Charts & All Markets?  Podcast: https://bit.ly/3sK8pKU https://theforextradingcoach.com/online_video_coaching_forex_course.html #489: Does Your Strategy Work Across All Time Frame Charts... 
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Find out more about my Online Video Forex Course
#489: Does Your Strategy Work Across All Time Frame Charts & All Markets?
In this video:
00:24 – Don’t use a strategy that only works on one time frame chart
00:57 – Things that experience bring
01:33 – The strategy that I developed 17 years ago and still use today
02:58 – Candle Patterns and Price
03:10 – Real life examples from this year
03:50 – H2 EUR/USD makes a 4:1 Reward:Risk
05:13 – The power of a trading community

Your trading strategy, if it's a good strategy, should work across all timeframe charts and all markets. Let me explain more. Right now
Hey there, traders. It's Andrew MItchem here, the Forex trading coach for video on podcast number 489.
Don’t use a strategy that only works on one time frame chart
Now, one of the things that fascinated me when I started trading almost 20 years ago was I would buy systems or view systems online or buy books, and people would say, Hey, this system's really good. It's fantastic, guaranteed to work, which of course it's not.
But you know, it's getting to work and you should only apply it on the pound US dollar or you should only apply it on 15 minute timeframe charts or five minute time frame charts. And I can never really understand why that was. But when you knew you kind of take on board what people say and they develop the systems, you kind of go with it.
Things that experience bring
It's not until you develop some time, strategies, knowledge, experience, and I have your ups and downs that you go through. Do you actually realize that that's not a good way of trading? But she soon find out that over optimizing and curve fitting, although it may look good in hindsight and you can make results, historical results look absolutely incredible.
You soon get to find out and realize that the reality is that that kind of over optimizing and curve fitting does never work in the real market going forward or doesn't work consistently well.
The strategy that I developed 17 years ago and still use today
And so when I developed my own strategy, which we're now talking about sort of 17 plus years ago, by the time I've been through the ups and downs of following other people and I wanted something that was real, that was going to work across all timeframe, charts, all currency pairs and all trading conditions, because you never know when you're going to be in trending markets or rangebound markets.
You just don't know in advance, of course. And now what we developed as we go into more and more markets available to us, we have more markets available to us, especially on MT5, is of course we can now trade into the crypto markets, the commodities, indices, metals and so the fantastic thing that I love about my strategy is not only does it work across all different timeframe charts and by the way, if you're on MT5, you know how easy it is now to put on like six hour charts or two hour, six hour, eight hour, 12 hour charts, which of course in MT4 days we didn't really have so much availability to those charts.
So not only does the strategy today were equally as well across all timeframe charts, we have a lot more forex pairs in play. You know, we've got some like Euro/Mexican and we've got, you know, US/Singapore and we've got Thai and we've got and you know, pesos where all these markets that a few years ago we didn't have access to...]]>406false1fullhttps://www.spreaker.com/episode/488-our-daily-trades-at-7-5-for-the-year-so-far--52574807 
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Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#488: What Are Your Trading Goals for 2023
In this video:
00:29 – Superb market conditions
00:48 – Our Daily chart trade suggestions
01:37 – The trades and their results from the last 2 weeks
04:00 – The performance that can be achieved
04:47 – Use this valuable knowledge
We have had an absolute flying start to the year with our daily trade suggestions up 7.5% right now in only a week and a half. Let me explain more about that and how you can achieve results like that right now.
Hey there Forex Traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 488.
Superb market conditions
Well, the market conditions over the last couple of weeks have been absolutely superb. Lots of good trends, lots of moves in the markets and from our point of view, lots of good chart setups on the timeframe charts that we look at, which are mostly the daily charts and the 12 hour chart, 6 hour charts, 4 hour charts, etc..
Our Daily chart trade suggestions
But I want to focus for now just on our daily trade suggestions so that based off the daily charts which we post once a day on our membership site, so all that finances matter where they live in the world can follow along with those trades. Look at the trades, the reasons why we're taking the trade, the paper, the direction, a paragraph of the reasons why, plus the exact entry and exit levels, which are all taught in the course anyway.
But they just confirm what's happening and give reassurance to people why they can earn while they learn and I'm making this on Thursday. So we only had three days of the trading week so far this week plus all of last week when we started for the year and already we are up 7.5% gain with only half a percent risk per trade. I want to explain those trades to you.
Our Daily chart trade suggestions
We started off last week with a 1.45% gain we had and we're training some non forex markets and also a few minor pairs as well because we trade the pattern, not so much what the actual pair is. So let me explain to you the trades that we took last week. These were all there for people to follow and to get the exact same results.
By the way, it doesn't matter where you live in the world. The US30, the US index, we made a 1.2% gain last week that we then got stop that on the Euro/Singapore. So we lost half of 1%. We had a US/Chinese Yuan, which is quite an unusual pair. Only one position got filled. We made .75 US/Mexican, one position filled we made half of 1% gain and we got to stop that 4% loss on the Nasdaq.
So a 1.45% gain last week. So we take two positions, one at the market, one over a limit order total between the two. I suggest a path of 1%. And that's what I'm basing these figures on this week. Superb week, only three days completed so far. We are up 6.04% Aussie/US dollar on Monday made 0.9% Aussie/Franc on Monday made 1.12.
They were only on one position as well as a massive reward to risk the Pound/Canadian made a 0.6 gain. The Franc/Singapore had one. Stopped out and the market or stopped out profit target on retracement 4.52 US/Mexican traded that again on Tuesday 0.5% one position. Tuesday Aussie/New Zealand one position 0.8%. And yesterday, Wednesday we took a trade on Lead of all things.
Both positions fill both positions hit profit for 1.6% gain a total in just three days. This week 6.04%,]]>https://theforextradingcoach.com/?p=15010Sun, 29 Jan 2023 12:00:01 +0000Andrew MitchemOur Daily Trades at 7.5% for the year so far  Podcast: https://bit.ly/3sK8pKU https://theforextradingcoach.com/online_video_coaching_forex_course.html #488: What Are Your Trading Goals for 2023 In this video: 00:29 – Superb market... 
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#488: What Are Your Trading Goals for 2023
In this video:
00:29 – Superb market conditions
00:48 – Our Daily chart trade suggestions
01:37 – The trades and their results from the last 2 weeks
04:00 – The performance that can be achieved
04:47 – Use this valuable knowledge
We have had an absolute flying start to the year with our daily trade suggestions up 7.5% right now in only a week and a half. Let me explain more about that and how you can achieve results like that right now.
Hey there Forex Traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 488.
Superb market conditions
Well, the market conditions over the last couple of weeks have been absolutely superb. Lots of good trends, lots of moves in the markets and from our point of view, lots of good chart setups on the timeframe charts that we look at, which are mostly the daily charts and the 12 hour chart, 6 hour charts, 4 hour charts, etc..
Our Daily chart trade suggestions
But I want to focus for now just on our daily trade suggestions so that based off the daily charts which we post once a day on our membership site, so all that finances matter where they live in the world can follow along with those trades. Look at the trades, the reasons why we're taking the trade, the paper, the direction, a paragraph of the reasons why, plus the exact entry and exit levels, which are all taught in the course anyway.
But they just confirm what's happening and give reassurance to people why they can earn while they learn and I'm making this on Thursday. So we only had three days of the trading week so far this week plus all of last week when we started for the year and already we are up 7.5% gain with only half a percent risk per trade. I want to explain those trades to you.
Our Daily chart trade suggestions
We started off last week with a 1.45% gain we had and we're training some non forex markets and also a few minor pairs as well because we trade the pattern, not so much what the actual pair is. So let me explain to you the trades that we took last week. These were all there for people to follow and to get the exact same results.
By the way, it doesn't matter where you live in the world. The US30, the US index, we made a 1.2% gain last week that we then got stop that on the Euro/Singapore. So we lost half of 1%. We had a US/Chinese Yuan, which is quite an unusual pair. Only one position got filled. We made .75 US/Mexican, one position filled we made half of 1% gain and we got to stop that 4% loss on the Nasdaq.
So a 1.45% gain last week. So we take two positions, one at the market, one over a limit order total between the two. I suggest a path of 1%. And that's what I'm basing these figures on this week. Superb week, only three days completed so far. We are up 6.04% Aussie/US dollar on Monday made 0.9% Aussie/Franc on Monday made 1.12.
They were only on one position as well as a massive reward to risk the Pound/Canadian made a 0.6 gain. The Franc/Singapore had one. Stopped out and the market or stopped out profit target on retracement 4.52 US/Mexican traded that again on Tuesday 0.5% one position. Tuesday Aussie/New Zealand one position 0.8%. And yesterday, Wednesday we took a trade on Lead of all things.
Both positions fill both positions hit profit for 1.6% gain a total in just three days. This week 6.04%,]]>345false1fullhttps://www.spreaker.com/episode/487-what-are-your-trading-goals-for-2023--52508691 
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#487: What Are Your Trading Goals for 2023
In this video:

00:25 – Happy New Year

00:50 – So few people have any form of goals or plan

01:40 – You need to be able to see things differently

02:14 – Read Rich Dad Poor Dad

03:03 – Why we trade the Forex market

03:41 – Learning from 2022

04:23 – If you need help with goals and plans, just ask me

What are your trading plans and your trading goals and just your goals in general for 2023 and going forward from here? Let's talk about that and more. Right now.

Hey there, traders. It's Andrew here at the Forex Trading Coach with video and podcast number 487.

Happy New Year

First video and podcast for the year. Happy New Year to you. Hope you have had a fantastic Christmas and New Year break. I just got out the poll and I thought I'd make this video all about goals because, you know, one of my goals is to try and swim every day this year.

That pool right now is at 32 degrees. So if you're in the States and in Fahrenheit, I think that's right. In the upper 80s early 90s, incredible temperature for the water. So really enjoying that.

So few people have any form of goals or plan

Let's get back to the trading, though. This morning. I was at a business group that I go to here in Nelson and a lady there who's a business advisor was talking about how she's amazed that so few people out there have any form of financial goals, any form of plan.

Basically, so many people are just living like day to day, paycheck to paycheck. And of course, that's pretty dangerous in a good year. What potentially we might see ahead of us this year, globally, things are not looking great. That's going to be really, really dangerous. Now, I'm definitely an optimist. I always like to look on the glass as half full, the bright side of life.

But you've got to be real as well. And this year, you know, not looking great for a lot of people, a lot of businesses as well. That's the reality of it. But like all these things, there are so many opportunities out there, so many great opportunities for people to do well,

You need to be able to see things differently

Whatever it is that you're looking at doing. But the trouble is you've got to be in that position to see them and have that mindset to be able to willing to open your mind up to to look at things differently, to like the standard type of thing. And you're going to then be in a position to take advantage of something if you see it. There's so many people that with the benefit of hindsight do really well. But of course in reality they don't because they're into things too late or they just don't see things. We've seen that so many times. You know, just look at what's happened in the world over the last couple of years and the vast majority of people just have followers.

Read Rich Dad Poor Dad

I was a big fan of Robert Kiyosaki. Years and years ago when I started investing in Robert Kiyosaki, he was always saying there's opportunities everywhere the guy from rich that poor, that if you're not read his books, just go read them.

That is fantastic. They're still very, very relevant today. But, you know, just about the whole mindset of thinking differently,]]>https://theforextradingcoach.com/?p=15001Sun, 22 Jan 2023 12:00:04 +0000Andrew MitchemWhat Are Your Trading Goals for 2023  Podcast: https://bit.ly/3sK8pKU https://theforextradingcoach.com/online_video_coaching_forex_course.html #487: What Are Your Trading Goals for 2023 In this video: 00:25 – Happy New Year 00:50 – So few... 
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#487: What Are Your Trading Goals for 2023
In this video:

00:25 – Happy New Year

00:50 – So few people have any form of goals or plan

01:40 – You need to be able to see things differently

02:14 – Read Rich Dad Poor Dad

03:03 – Why we trade the Forex market

03:41 – Learning from 2022

04:23 – If you need help with goals and plans, just ask me

What are your trading plans and your trading goals and just your goals in general for 2023 and going forward from here? Let's talk about that and more. Right now.

Hey there, traders. It's Andrew here at the Forex Trading Coach with video and podcast number 487.

Happy New Year

First video and podcast for the year. Happy New Year to you. Hope you have had a fantastic Christmas and New Year break. I just got out the poll and I thought I'd make this video all about goals because, you know, one of my goals is to try and swim every day this year.

That pool right now is at 32 degrees. So if you're in the States and in Fahrenheit, I think that's right. In the upper 80s early 90s, incredible temperature for the water. So really enjoying that.

So few people have any form of goals or plan

Let's get back to the trading, though. This morning. I was at a business group that I go to here in Nelson and a lady there who's a business advisor was talking about how she's amazed that so few people out there have any form of financial goals, any form of plan.

Basically, so many people are just living like day to day, paycheck to paycheck. And of course, that's pretty dangerous in a good year. What potentially we might see ahead of us this year, globally, things are not looking great. That's going to be really, really dangerous. Now, I'm definitely an optimist. I always like to look on the glass as half full, the bright side of life.

But you've got to be real as well. And this year, you know, not looking great for a lot of people, a lot of businesses as well. That's the reality of it. But like all these things, there are so many opportunities out there, so many great opportunities for people to do well,

You need to be able to see things differently

Whatever it is that you're looking at doing. But the trouble is you've got to be in that position to see them and have that mindset to be able to willing to open your mind up to to look at things differently, to like the standard type of thing. And you're going to then be in a position to take advantage of something if you see it. There's so many people that with the benefit of hindsight do really well. But of course in reality they don't because they're into things too late or they just don't see things. We've seen that so many times. You know, just look at what's happened in the world over the last couple of years and the vast majority of people just have followers.

Read Rich Dad Poor Dad

I was a big fan of Robert Kiyosaki. Years and years ago when I started investing in Robert Kiyosaki, he was always saying there's opportunities everywhere the guy from rich that poor, that if you're not read his books, just go read them.

That is fantastic. They're still very, very relevant today. But, you know, just about the whole mindset of thinking differently,]]>316false1fullhttps://www.spreaker.com/episode/486-are-you-ready-to-trade-in-2023--52217425
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#486: Are You Ready to Trade in 2023?”
In this video:
00:30 – The last video and podcast for 2022
00:43 – Trading into 2023
01:33 – The bigger global picture
02:31 – Things we can control
03:18 – Christmas & New Year break from trading
03:49 – What are you going to do?
04:45 – If you need trading help & my free webinars
05:31 – Have yourself a great Christmas
Are you ready for a fantastic trading year heading into 2023?
Let me help you make 2023 the best year ever. Let's talk about that a more right now.
Hey there, forest Trader. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 480.
The last video and podcast for 2022
This is the last video and podcast for 2023. I hope you like the kind of festive shirt, and it's summertime here in New Zealand, and we're all looking forward to a really nice Christmas and New Year break.
Trading into 2023
But this video and podcast is about 2023. And what is it that you can do right now to help yourself making 2023 the best trading year that you have had? How's this year been? What have you learned this year? What have you done that's like really silly? Maybe? What have you done that's really good? You educated yourself in trading?
Do you have yourself a plan, a structure, a way of trading? Have you gained consistency this year? Have you gone on to prop firms this year? Maybe? What is it that you can take away from this year that's been really good, or maybe something not so good that you can go, well, that was a bit silly. I shouldn't have done that and try and avoid that same mistake going into next. So that's what I want to help you about now.
The bigger global picture
So, heading into next year, like on a, I suppose, bigger picture, things are not looking particularly great, are they? We've got massive inflation all around the world. We've got interest rates rising. All around the world and we've got costs of, like housing and fuel and, delays in shipping and all these kind of just things are just not looking particularly great on a bigger global scale.
I know here in New Zealand, being an island nation, the time and the delays of getting materials here is getting worse and worse. There's fuel shortages starting to just, disappear, the price of food has gone through the roof. There's not the amount of tourists coming here that there once was, years ago.
And so all those things are kind of like sort of accumulating and snowballing to make 2023. Probably on a bigger scale, not look so good.
Things we can control
So let's come back to things that we can control and that's our trading, and that's where you need to learn what it is you are going to do. Heading into 2023, are you going to decide to get yourself educated?
If you are who you're going to go to, are you going to make some trading rules, some trading plans? Are you going to think about doing this properly? Are you going to think about low risk trades? Are you going to think about what is it that I can see on my charts that's going to give me a high quality trading pattern? What time of day do I want to trade?
What pairs am I looking at trading? Am I'm going to look at non Forex pairs as well. Am I looking at trading, trading different timeframe charts next year? Am I going to look at changing brokers even next year? What is it that you can do?]]>https://theforextradingcoach.com/?p=14931Sun, 18 Dec 2022 12:23:37 +0000Andrew MitchemAre You Ready to Trade in 2023?”  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #486: Are You Ready to Trade in 2023?” In this video: 00:30 – The last video and podcast for 2022...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#486: Are You Ready to Trade in 2023?”
In this video:
00:30 – The last video and podcast for 2022
00:43 – Trading into 2023
01:33 – The bigger global picture
02:31 – Things we can control
03:18 – Christmas & New Year break from trading
03:49 – What are you going to do?
04:45 – If you need trading help & my free webinars
05:31 – Have yourself a great Christmas
Are you ready for a fantastic trading year heading into 2023?
Let me help you make 2023 the best year ever. Let's talk about that a more right now.
Hey there, forest Trader. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 480.
The last video and podcast for 2022
This is the last video and podcast for 2023. I hope you like the kind of festive shirt, and it's summertime here in New Zealand, and we're all looking forward to a really nice Christmas and New Year break.
Trading into 2023
But this video and podcast is about 2023. And what is it that you can do right now to help yourself making 2023 the best trading year that you have had? How's this year been? What have you learned this year? What have you done that's like really silly? Maybe? What have you done that's really good? You educated yourself in trading?
Do you have yourself a plan, a structure, a way of trading? Have you gained consistency this year? Have you gone on to prop firms this year? Maybe? What is it that you can take away from this year that's been really good, or maybe something not so good that you can go, well, that was a bit silly. I shouldn't have done that and try and avoid that same mistake going into next. So that's what I want to help you about now.
The bigger global picture
So, heading into next year, like on a, I suppose, bigger picture, things are not looking particularly great, are they? We've got massive inflation all around the world. We've got interest rates rising. All around the world and we've got costs of, like housing and fuel and, delays in shipping and all these kind of just things are just not looking particularly great on a bigger global scale.
I know here in New Zealand, being an island nation, the time and the delays of getting materials here is getting worse and worse. There's fuel shortages starting to just, disappear, the price of food has gone through the roof. There's not the amount of tourists coming here that there once was, years ago.
And so all those things are kind of like sort of accumulating and snowballing to make 2023. Probably on a bigger scale, not look so good.
Things we can control
So let's come back to things that we can control and that's our trading, and that's where you need to learn what it is you are going to do. Heading into 2023, are you going to decide to get yourself educated?
If you are who you're going to go to, are you going to make some trading rules, some trading plans? Are you going to think about doing this properly? Are you going to think about low risk trades? Are you going to think about what is it that I can see on my charts that's going to give me a high quality trading pattern? What time of day do I want to trade?
What pairs am I looking at trading? Am I'm going to look at non Forex pairs as well. Am I looking at trading, trading different timeframe charts next year? Am I going to look at changing brokers even next year? What is it that you can do?]]>357false1fullhttps://www.spreaker.com/episode/485-my-top-5-trading-takeaways-from-this-year--52156262
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#485:My Top 5 Trading Takeaways from This Year
In this video:
00:32 – My top 5 trading takeaways from 2022
00:47 - #1 Trade the Market that is Active
02:33 – #2 Trade What You See and Not What You Think
04:07 – #3 Get Yourself Educated and Part of a Trading Community
05:45 – #4 Be Consistent in All You Do 
06:53 – #5 Enjoy Your Trading – Here’s How
08:05 – Next Week’s Video and Podcast

I'm gonna give you my Top Five Takeaways that I've learned from trading this year and how you can use those top five tips to aid your trading into 2023.

Let's get into that more right now.

Hey there traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 485.

My top 5 trading takeaways from 2022

I want to give you today my top five trading tips and takeaways that I've taken from trading the FX market and other markets this year as we draw towards the end of 2022.

Let's start with #1.

#1 Trade the Market that is Active

So #1 is trade.

The markets that are active . And what I mean by that is different markets have different conditions throughout the year, and of course you never know what those conditions are going to be ahead of time. But what you can do is you can see which particular markets are trending well at the time, which are moving, which have volatility, and therefore, which markets are giving you the best opportunities

Now that in the Forex market can be, sometimes some pairs go quite flat. Other times you'll find that most pairs go quite flat. Other times everything seems to be moving. So as a phrase I used going back to my farming days of 20 plus years ago of "make hay while the sun shines". I'm sure you've heard that phrase.

And it's no different in trading. If the market conditions are active, things are moving, things are volatile. Great conditions there. That's the time to be identifying trades. Now you go and look at the crypto market. This year, for example, there have been some massive, massive moves earlier in the year in the crypto markets.

But you go and look at the last month, you look at like, let's say November, and now into early December. Most of the crypto markets are just completely and utterly flat. I haven't taken hardly any trades on the crypto markets in the last, say, like almost two months now, because the market conditions have not been there yet.

The forest markets have been fantastic. The metals are starting to move. Oil right now is dropping a lot, so the other markets are showing some great opportunities. So trade the markets that are giving you the best trading conditions at that time.

#2 Trade What You See and Not What You Think

Take away #2.

You should trade what you see and not what you think.

Really important that you do that as a technical trader and not a news fundamental trader. I trade what I see on the charts, so therefore I'm trading what I'm seeing is actually happening, not what Andrew or someone else or someone on a news station thinks might be going to. and you see things have changed slightly when it comes to the news.

No longer do we get those massive great big spikes and big gaps and non-farm payrolls. You know,]]>https://theforextradingcoach.com/?p=14923Sun, 11 Dec 2022 21:02:38 +0000Andrew MitchemMy Top 5 Trading Takeaways from This Year  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #485:My Top 5 Trading Takeaways from This Year In this video: 00:32 – My top 5 trading...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#485:My Top 5 Trading Takeaways from This Year
In this video:
00:32 – My top 5 trading takeaways from 2022
00:47 - #1 Trade the Market that is Active
02:33 – #2 Trade What You See and Not What You Think
04:07 – #3 Get Yourself Educated and Part of a Trading Community
05:45 – #4 Be Consistent in All You Do 
06:53 – #5 Enjoy Your Trading – Here’s How
08:05 – Next Week’s Video and Podcast

I'm gonna give you my Top Five Takeaways that I've learned from trading this year and how you can use those top five tips to aid your trading into 2023.

Let's get into that more right now.

Hey there traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 485.

My top 5 trading takeaways from 2022

I want to give you today my top five trading tips and takeaways that I've taken from trading the FX market and other markets this year as we draw towards the end of 2022.

Let's start with #1.

#1 Trade the Market that is Active

So #1 is trade.

The markets that are active . And what I mean by that is different markets have different conditions throughout the year, and of course you never know what those conditions are going to be ahead of time. But what you can do is you can see which particular markets are trending well at the time, which are moving, which have volatility, and therefore, which markets are giving you the best opportunities

Now that in the Forex market can be, sometimes some pairs go quite flat. Other times you'll find that most pairs go quite flat. Other times everything seems to be moving. So as a phrase I used going back to my farming days of 20 plus years ago of "make hay while the sun shines". I'm sure you've heard that phrase.

And it's no different in trading. If the market conditions are active, things are moving, things are volatile. Great conditions there. That's the time to be identifying trades. Now you go and look at the crypto market. This year, for example, there have been some massive, massive moves earlier in the year in the crypto markets.

But you go and look at the last month, you look at like, let's say November, and now into early December. Most of the crypto markets are just completely and utterly flat. I haven't taken hardly any trades on the crypto markets in the last, say, like almost two months now, because the market conditions have not been there yet.

The forest markets have been fantastic. The metals are starting to move. Oil right now is dropping a lot, so the other markets are showing some great opportunities. So trade the markets that are giving you the best trading conditions at that time.

#2 Trade What You See and Not What You Think

Take away #2.

You should trade what you see and not what you think.

Really important that you do that as a technical trader and not a news fundamental trader. I trade what I see on the charts, so therefore I'm trading what I'm seeing is actually happening, not what Andrew or someone else or someone on a news station thinks might be going to. and you see things have changed slightly when it comes to the news.

No longer do we get those massive great big spikes and big gaps and non-farm payrolls. You know,]]>511false1fullhttps://www.spreaker.com/episode/484-over-a-50-return-in-the-last-8-weeks--52091145
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here To Contact Ben Clay
#484:Over a 50% Return in the last 8 weeks
In this video:
00:41 – Client makes 50% return in the last 8 weeks
01:17 – What has Brandon done that most others don’t do
02:00 – Effort and commitment 
02:51 – Daily trades profitable every year since 2010
03:06 – Trades posted on our Forum site for clients to follow
05:03 – Check out Blueberry Markets and contact Ben Clay ben.clay@blueberrymarkets.com
05:55 – Make 2023 the year you make trading work for you

One of our clients has just made over a 50% return on his live account in the last eight weeks. Let me share details with you about how he's done that and how you also can achieve similar results. Let's get into it and more right now.

Hey there, Forex traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 484.

Once again, back outside and getting lots of good feedback about the nice New Zealand scenery. We'll keep the outside videos going for a bit.

Client makes 50% return in the last 8 weeks

Look, I want to cover information regarding some comments left on our forum site just this morning by one of our clients called Brandon, who lives in Alabama, in the US. Brandon's been with us for just over six months now. He said on our forum site today that he has made a greater than 50% return on his live account in the last eight weeks, which is fantastic news because everybody wants to make money out of trading. That's what we're doing it for.

Of course, as you know from the stats, that 90%-95% of people do not make money. Why is that?

What has Brandon done that most others don’t do

 Well, what is it that Brandon has done that's different? Well, I suppose, first of all, he's finally got some education in trading. I'm going to read to you the exact comments that he posted earlier today. Brandon has said, "I'm feeling really grateful. I've been trading Forex for 10 years and have tried hundreds of strategies. This is truly the best way to trade. Consistency with this plus patience will produce results. My account is up over 50% in eight weeks since I committed to consistently showing up here every day to take every setup we talk about, the daily trades and my own scanning. Thank you so much to Paul and Andrew."
Effort and commitment 

What does that mean? Well, he's putting in some effort, which is great. He's turning up to our forum site. He's viewing our daily trades each day. He's logging onto our forum site and seeing trades that we're discussing throughout the day as well. That just shows that with that consistency and that bit of effort, and, first of all, taking the plunge to take an educational course, a well-rated one, it sounds like he's done hundreds of different strategies elsewhere, but it's finally working for him. That is awesome to see. There's nothing more pleasing from our point of view than to see our clients succeed. When you think about it, if they do nothing else and just follow our daily trade suggestions, plus some of the trades put on our forum site, plus then learn how to do that for themselves and take a few trades for themselves, there's really no way that you cannot do well.

Daily trades profitable every year since 2010]]>https://theforextradingcoach.com/?p=14913Sun, 04 Dec 2022 11:34:56 +0000Andrew MitchemOver a 50% Return in the last 8 weeks  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click Here To Contact Ben Clay #484:Over a 50% Return in the last 8 weeks In this video: 00:41 –...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here To Contact Ben Clay
#484:Over a 50% Return in the last 8 weeks
In this video:
00:41 – Client makes 50% return in the last 8 weeks
01:17 – What has Brandon done that most others don’t do
02:00 – Effort and commitment 
02:51 – Daily trades profitable every year since 2010
03:06 – Trades posted on our Forum site for clients to follow
05:03 – Check out Blueberry Markets and contact Ben Clay ben.clay@blueberrymarkets.com
05:55 – Make 2023 the year you make trading work for you

One of our clients has just made over a 50% return on his live account in the last eight weeks. Let me share details with you about how he's done that and how you also can achieve similar results. Let's get into it and more right now.

Hey there, Forex traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 484.

Once again, back outside and getting lots of good feedback about the nice New Zealand scenery. We'll keep the outside videos going for a bit.

Client makes 50% return in the last 8 weeks

Look, I want to cover information regarding some comments left on our forum site just this morning by one of our clients called Brandon, who lives in Alabama, in the US. Brandon's been with us for just over six months now. He said on our forum site today that he has made a greater than 50% return on his live account in the last eight weeks, which is fantastic news because everybody wants to make money out of trading. That's what we're doing it for.

Of course, as you know from the stats, that 90%-95% of people do not make money. Why is that?

What has Brandon done that most others don’t do

 Well, what is it that Brandon has done that's different? Well, I suppose, first of all, he's finally got some education in trading. I'm going to read to you the exact comments that he posted earlier today. Brandon has said, "I'm feeling really grateful. I've been trading Forex for 10 years and have tried hundreds of strategies. This is truly the best way to trade. Consistency with this plus patience will produce results. My account is up over 50% in eight weeks since I committed to consistently showing up here every day to take every setup we talk about, the daily trades and my own scanning. Thank you so much to Paul and Andrew."
Effort and commitment 

What does that mean? Well, he's putting in some effort, which is great. He's turning up to our forum site. He's viewing our daily trades each day. He's logging onto our forum site and seeing trades that we're discussing throughout the day as well. That just shows that with that consistency and that bit of effort, and, first of all, taking the plunge to take an educational course, a well-rated one, it sounds like he's done hundreds of different strategies elsewhere, but it's finally working for him. That is awesome to see. There's nothing more pleasing from our point of view than to see our clients succeed. When you think about it, if they do nothing else and just follow our daily trade suggestions, plus some of the trades put on our forum site, plus then learn how to do that for themselves and take a few trades for themselves, there's really no way that you cannot do well.

Daily trades profitable every year since 2010]]>400false1fullhttps://www.spreaker.com/episode/482-my-favourite-candle-patterns-to-trade--52022000
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#483: My Favourite Candle Patterns to Trade
In this video:
00:37 – Trading the patterns
01:10 – Make your trading enjoyable
01:48 – The candle patterns we look for
02:18 – My favourite candle pattern
03:04 – Different time frame chart trades this week
05:05 – Trade the pattern

As a trader, it's important that you learn to trade the pattern and do not make your trading too complicated. If you can do that, your results will be good. Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here at The Forest Trading Coach with video and podcast number 483.

Outside again today. Get some nice comments and feedback from people, just enjoying the outdoor environment here in Nelson, in New Zealand, and of course summertime here so nice to get outside.

Trading the patterns

Trading the pattern, it's a really important part of trading and it can declutter your mind. It can make your trading far more enjoyable, far easier and definitely more profitable. Now what I mean by that is in so many things like compliance, red tape, overcomplicating things just in life in general, government policies, whatever it is that things are just in many ways just overcomplicated and trading is no different.

Make your trading enjoyable

And in order to make your trading enjoyable, I strongly believe that you've got to declutter your mind and make things a lot more simple.

And for me, it's about trading the pattern. I do that regardless of the timeframe chart that I'm trading. So a lot of people come to me and go, "Hey, Andrew. What's the best timeframe chart to trade? Should I only be trading daily charts? Should I only be trading hourly charts?" And to me, you trade the setup that's on the chart at the time. And if it's a good setup, you take the trade. If it's not, you don't take the trade.

The candle patterns we look for

So when I'm looking at a trade, I'm looking for a candle shape, candle pattern to form first to give me the confirmation that we could be seeing either a reversal pattern or a continuation pattern. So I trade those two patterns to start with. I trade reversals because if we've been in a big up trend, let's say, we're then seeing a bearish candle and we're then turning around, looking for a down trend opposite with a buy trade then, looking for a down trend and it to turn around to go up.

My favourite candle pattern

My favourite pattern though is a continuation pattern, and that's when we've had, let's say, a big up trend. We've had a pullback and then we see a bullish pattern to go long again. So candle pattern is always number one to me. I like to see previous indecision or bounce at a certain level, a round number if it's a buy trade bounce off a support level. I like to see room to move for the profit target. I love to see a round number to help protect my stop loss, things like that. If I'm taking a buy trade, I don't really want to see my profit target above the last, say, swing high. I don't need to have to make new ground, new high price to get to my profit target. That again just detracts from the likelihood of my profit target being hit. So all those things come into it.

Different time frame chart trades this week

But then it comes to the timeframe chart that you're trading,]]>https://theforextradingcoach.com/?p=14905Sun, 27 Nov 2022 12:00:20 +0000Andrew MitchemMy Favourite Candle Patterns to Trade  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #483: My Favourite Candle Patterns to Trade In this video: 00:37 – Trading the patterns 01:10 –...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#483: My Favourite Candle Patterns to Trade
In this video:
00:37 – Trading the patterns
01:10 – Make your trading enjoyable
01:48 – The candle patterns we look for
02:18 – My favourite candle pattern
03:04 – Different time frame chart trades this week
05:05 – Trade the pattern

As a trader, it's important that you learn to trade the pattern and do not make your trading too complicated. If you can do that, your results will be good. Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here at The Forest Trading Coach with video and podcast number 483.

Outside again today. Get some nice comments and feedback from people, just enjoying the outdoor environment here in Nelson, in New Zealand, and of course summertime here so nice to get outside.

Trading the patterns

Trading the pattern, it's a really important part of trading and it can declutter your mind. It can make your trading far more enjoyable, far easier and definitely more profitable. Now what I mean by that is in so many things like compliance, red tape, overcomplicating things just in life in general, government policies, whatever it is that things are just in many ways just overcomplicated and trading is no different.

Make your trading enjoyable

And in order to make your trading enjoyable, I strongly believe that you've got to declutter your mind and make things a lot more simple.

And for me, it's about trading the pattern. I do that regardless of the timeframe chart that I'm trading. So a lot of people come to me and go, "Hey, Andrew. What's the best timeframe chart to trade? Should I only be trading daily charts? Should I only be trading hourly charts?" And to me, you trade the setup that's on the chart at the time. And if it's a good setup, you take the trade. If it's not, you don't take the trade.

The candle patterns we look for

So when I'm looking at a trade, I'm looking for a candle shape, candle pattern to form first to give me the confirmation that we could be seeing either a reversal pattern or a continuation pattern. So I trade those two patterns to start with. I trade reversals because if we've been in a big up trend, let's say, we're then seeing a bearish candle and we're then turning around, looking for a down trend opposite with a buy trade then, looking for a down trend and it to turn around to go up.

My favourite candle pattern

My favourite pattern though is a continuation pattern, and that's when we've had, let's say, a big up trend. We've had a pullback and then we see a bullish pattern to go long again. So candle pattern is always number one to me. I like to see previous indecision or bounce at a certain level, a round number if it's a buy trade bounce off a support level. I like to see room to move for the profit target. I love to see a round number to help protect my stop loss, things like that. If I'm taking a buy trade, I don't really want to see my profit target above the last, say, swing high. I don't need to have to make new ground, new high price to get to my profit target. That again just detracts from the likelihood of my profit target being hit. So all those things come into it.

Different time frame chart trades this week

But then it comes to the timeframe chart that you're trading,]]>339false1fullhttps://www.spreaker.com/episode/482-don-t-race-to-get-rich-through-trading--51957029
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#482:Don’t Race to Get Rich through Trading
In this video:
00:28 – Take your time when learning to trade
01:33 – How I can help you
02:06 – Trading with low risk per trade
03:00 – Controlling your heart and your head
03:17 – Client makes +60% in 6 weeks
04:47 – Check out Blueberry Markets
05:16 – Today’s lessons
05:37 – Like & Subscribe

Hey traders. Don't race to get rich through trading. It's likely to end in tears. Let me explain exactly what I mean through my 18 years of knowledge and experience to help you right now.

Hey there, traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 482.

Take your time when learning to trade

Came outside this afternoon, beautiful afternoon. And I wanted to talk about why you should not race to get rich through trading. You see, people get into trading and they think it's going to be easy. They think they're going to become super rich really, really quickly without too much thought or too much effort. And look, you can't blame people for thinking that. I did exactly the same.

Give you a bit of a kind of funny story. 17, 18 years ago, I was pushing kids around in prams, push chairs, or walking the dog and not really being in the moment, and instead my head was in the how much money am I going to make through my trading kind of space. And I would be forever calculating while I was walking. Go, okay, so I start with 10,000 and then I double that, that'd be 20, and I'd double that. That'd be 40, and I'd double, that'd be 80. And I was trying to sort of figure out if I'm doubling my money every sort of month, how long it would take me to get to these magic high numbers.

And it's a mistake that so many people go through. And like I said, I really don't blame you if you are going through that or have done that because it's exactly what I did myself.

How I can help you

But what I'm here to help you with is now after some 17, 18 years of trading full time, in fact coming up near 19 now of trading full time, I can offer you knowledge, experience, bit of wisdom to help shortcut things for you. And that's what we do at the Forex Trading Coach. It's not only about the course, and the strategy, which of course work, it's about the realities of trading.

And yes, you can do really, really, really well from your trading, and I'm going to share with you a testimonial that I received just yesterday shortly, but it's about the realities.

Trading with low risk per trade

And I quite often get asked by people saying, "Andrew, look, how can I make money when you only say trade half of 1% risk per trade?" And you got to remember, that's not me saying you should trade half of 1%. That's what I'm saying that suits me. And from my years of experience and knowledge, I find it a really good number. Now, if you want to go and trade 2, 3, 5, 10% per trade, go for it. It's your money after all. I'm not here to say you have to do this. I'm here to say, if you want my help and knowledge, these are my suggestions. And I've always sort of used that figure because I find personally that figure is a really good low risk figure.

And when you look at prop firms around the world now, which by the way is a really good way for people to make money, once they know what they're doing,]]>https://theforextradingcoach.com/?p=14896Sun, 20 Nov 2022 12:00:34 +0000Andrew MitchemDon’t Race to Get Rich through Trading  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #482:Don’t Race to Get Rich through Trading In this video: 00:28 – Take your time when learning to...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#482:Don’t Race to Get Rich through Trading
In this video:
00:28 – Take your time when learning to trade
01:33 – How I can help you
02:06 – Trading with low risk per trade
03:00 – Controlling your heart and your head
03:17 – Client makes +60% in 6 weeks
04:47 – Check out Blueberry Markets
05:16 – Today’s lessons
05:37 – Like & Subscribe

Hey traders. Don't race to get rich through trading. It's likely to end in tears. Let me explain exactly what I mean through my 18 years of knowledge and experience to help you right now.

Hey there, traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 482.

Take your time when learning to trade

Came outside this afternoon, beautiful afternoon. And I wanted to talk about why you should not race to get rich through trading. You see, people get into trading and they think it's going to be easy. They think they're going to become super rich really, really quickly without too much thought or too much effort. And look, you can't blame people for thinking that. I did exactly the same.

Give you a bit of a kind of funny story. 17, 18 years ago, I was pushing kids around in prams, push chairs, or walking the dog and not really being in the moment, and instead my head was in the how much money am I going to make through my trading kind of space. And I would be forever calculating while I was walking. Go, okay, so I start with 10,000 and then I double that, that'd be 20, and I'd double that. That'd be 40, and I'd double, that'd be 80. And I was trying to sort of figure out if I'm doubling my money every sort of month, how long it would take me to get to these magic high numbers.

And it's a mistake that so many people go through. And like I said, I really don't blame you if you are going through that or have done that because it's exactly what I did myself.

How I can help you

But what I'm here to help you with is now after some 17, 18 years of trading full time, in fact coming up near 19 now of trading full time, I can offer you knowledge, experience, bit of wisdom to help shortcut things for you. And that's what we do at the Forex Trading Coach. It's not only about the course, and the strategy, which of course work, it's about the realities of trading.

And yes, you can do really, really, really well from your trading, and I'm going to share with you a testimonial that I received just yesterday shortly, but it's about the realities.

Trading with low risk per trade

And I quite often get asked by people saying, "Andrew, look, how can I make money when you only say trade half of 1% risk per trade?" And you got to remember, that's not me saying you should trade half of 1%. That's what I'm saying that suits me. And from my years of experience and knowledge, I find it a really good number. Now, if you want to go and trade 2, 3, 5, 10% per trade, go for it. It's your money after all. I'm not here to say you have to do this. I'm here to say, if you want my help and knowledge, these are my suggestions. And I've always sort of used that figure because I find personally that figure is a really good low risk figure.

And when you look at prop firms around the world now, which by the way is a really good way for people to make money, once they know what they're doing,]]>349false1fullhttps://www.spreaker.com/episode/481-profiting-from-the-crypto-crash--51876775
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Signup for my Black Friday Sale 2022
#481: Profiting from the Crypto Crash
In this video:
00:25 – Today’s video and podcast
00:53 – A massive fall in the Crypto market this week
02:30 – Crypto Cash
03:11 – Trading Battle and my 2022 predictions have been correct
04:50 – Our Black Friday sale starts on 17th/18th November
06:16 – Check out Blueberry Markets
07:13 – This week’s summary

The crypto market has been crashing and tumbling this week. So how do you profit from that rather than take massive losses? Let's talk about that and more right now.

Hey there traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 481.

Today’s video and podcast

A big list of things to get through today, including the big crash in cryptos and how you can profit from that. I want to talk about my 2022 long-term predictions that I made last year and how those have come correct. I want to talk about our Black Friday sale on this upcoming Friday, on the 18th of November. I want to talk about Blueberry Markets as my preferred broker. So let's get into that.

A massive fall in the Crypto market this week

So cryptos; they have been tumbling. If you've been following cryptos, if you've been trading in cryptos, or you've been holding cryptos, you would have seen that this week we have had a massive fall in most of the crypto markets. So for a lot of people that's obviously really, really bad news. But for us as traders, Forex traders but we can now trade cryptos in the same way because my strategy works across all markets and all timeframes and that does crypto pairs as well. So luckily for us, we have the ability of course to trade short or to sell something. We're selling something that we don't own. Unlike going out there and actually buying Bitcoin or Ethereum or something, we're not doing that. We have the advantage of riding the market down if we're selling it and profiting exactly the same way as if we were buying it and the market was going up.

Now, that's one of the main things that attracted me to the Forex market getting close on 20 years ago, was the ability to sell something and watch it fall and profit from that, unlike say traditional buying shares or buying property or something like that, where of course you buy, hope, hold, hope it goes up kind of strategy.I wasn't overly interested in that and that's why I like the ability to make money, providing I'm on the right side, whether a market is going up or down. That's the beauty of the way that we trade.

Crypto Cash

So with cryptos, for example, we've seen this week the likes of Bitcoin go from $21,000 down to $15,000. A massive, massive drop. We've seen Bitcoin cash go from 120 down to $86. We've seen Ethereum go from $1,600 down to $1,080. So massive, massive drops. Sure they might come back a little bit but the beauty is, as mentioned, we can trade them if they're going up or down. We're price-action based and that works across all markets without fail. That's the beauty of it. So that's why I like to trade the Forex market and now other markets.

Trading Battle and my 2022 predictions have been correct

The Trading Battle is a group online who came to m...]]>https://theforextradingcoach.com/?p=14885Sun, 13 Nov 2022 12:00:02 +0000Andrew MitchemProfiting from the Crypto Crash  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click Here to Signup for my Black Friday Sale 2022 #481: Profiting from the Crypto Crash In this video:...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Signup for my Black Friday Sale 2022
#481: Profiting from the Crypto Crash
In this video:
00:25 – Today’s video and podcast
00:53 – A massive fall in the Crypto market this week
02:30 – Crypto Cash
03:11 – Trading Battle and my 2022 predictions have been correct
04:50 – Our Black Friday sale starts on 17th/18th November
06:16 – Check out Blueberry Markets
07:13 – This week’s summary

The crypto market has been crashing and tumbling this week. So how do you profit from that rather than take massive losses? Let's talk about that and more right now.

Hey there traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 481.

Today’s video and podcast

A big list of things to get through today, including the big crash in cryptos and how you can profit from that. I want to talk about my 2022 long-term predictions that I made last year and how those have come correct. I want to talk about our Black Friday sale on this upcoming Friday, on the 18th of November. I want to talk about Blueberry Markets as my preferred broker. So let's get into that.

A massive fall in the Crypto market this week

So cryptos; they have been tumbling. If you've been following cryptos, if you've been trading in cryptos, or you've been holding cryptos, you would have seen that this week we have had a massive fall in most of the crypto markets. So for a lot of people that's obviously really, really bad news. But for us as traders, Forex traders but we can now trade cryptos in the same way because my strategy works across all markets and all timeframes and that does crypto pairs as well. So luckily for us, we have the ability of course to trade short or to sell something. We're selling something that we don't own. Unlike going out there and actually buying Bitcoin or Ethereum or something, we're not doing that. We have the advantage of riding the market down if we're selling it and profiting exactly the same way as if we were buying it and the market was going up.

Now, that's one of the main things that attracted me to the Forex market getting close on 20 years ago, was the ability to sell something and watch it fall and profit from that, unlike say traditional buying shares or buying property or something like that, where of course you buy, hope, hold, hope it goes up kind of strategy.I wasn't overly interested in that and that's why I like the ability to make money, providing I'm on the right side, whether a market is going up or down. That's the beauty of the way that we trade.

Crypto Cash

So with cryptos, for example, we've seen this week the likes of Bitcoin go from $21,000 down to $15,000. A massive, massive drop. We've seen Bitcoin cash go from 120 down to $86. We've seen Ethereum go from $1,600 down to $1,080. So massive, massive drops. Sure they might come back a little bit but the beauty is, as mentioned, we can trade them if they're going up or down. We're price-action based and that works across all markets without fail. That's the beauty of it. So that's why I like to trade the Forex market and now other markets.

Trading Battle and my 2022 predictions have been correct

The Trading Battle is a group online who came to m...]]>470false1fullhttps://www.spreaker.com/episode/480-it-s-time-to-secure-your-financial-future--51802101
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Signup for my Black Friday Sale 2022
#480: It’s Time to Secure Your Financial Future
In this video:
00:24 – A lot of doom and gloom in the world right now
01:10 – Mortgage rates and Interest rates rise
01:52 – Pension funds are dropping
02:28 – What can you do about it?
02:50 – Live webinar discussing a variety of time frame charts
04:14 – Black Friday 2022 Sale – register here https://theforextradingcoach.com/black-friday-2022/

It's time to start thinking about securing your financial future, regardless of how old you are, regardless of how wealthy you might be, and regardless of where you live. Let's talk about this really important topic right now.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 480.

A lot of doom and gloom in the world right now

Thought I'd come outside this morning, early morning and record this video for you. There's a lot going on obviously around the world right now with inflation going up, cost of living going up, job uncertainties, wages not keeping up with inflation, and a lot of property values starting to drop. In fact, I saw just this morning reading one of the UK online papers, they're talking about potentially up to a 30% fall in their house prices. Property investors, maybe not such a good time now with higher interest rates and falling values if you already own property as well.

Mortgage rates and Interest rates rise

With mortgage rates going up and up, it's making things harder and harder for people to afford property, and so therefore it's not so attractive. Also, overnight my time, Britain has raised their cash rate from 2.25% up to 3%. That's actually a 33% rise, huge. Just this week, the US have also gone from 3.25% to 4%, and on Tuesday, Australia went from 2.6 to 2.85. Other countries did something similar just a week or so prior, and that's just this week, just those three countries.

Pension funds are dropping

We're also getting news about pension drops, and I saw again on an English online paper here, this comment about my pension fund has plunged, wiping out almost all the gains over the last eight years. People are saying, well, their pension funds, if they're coming up to retirement age, let's say. Your value of your pension fund some eight years ago is pretty much where you are right now because of the lowering values and just the bad performance of pension funds. All this comes down to the very obvious, I suppose the obvious question, not the obvious answer, so much.

What can you do about it?

The obvious question of what are you going to do about it, and how can you change this? Because obviously this is just spiralling out of control on so many different levels.

To me, there is a relatively straightforward answer, and it's to get trading or get educated into trading so you can try to figure out what you can do about this for yourself.

Live webinar discussing a variety of time frame charts

Now, just last night my time, I held a live webinar with our clients. We discussed a variety of timeframe charts, monthly charts of which we've got five trades on for the month of November.]]>https://theforextradingcoach.com/?p=14873Sun, 06 Nov 2022 12:00:22 +0000Andrew MitchemIt’s Time to Secure Your Financial Future  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click Here to Signup for my Black Friday Sale 2022 #480: It’s Time to Secure Your Financial...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Signup for my Black Friday Sale 2022
#480: It’s Time to Secure Your Financial Future
In this video:
00:24 – A lot of doom and gloom in the world right now
01:10 – Mortgage rates and Interest rates rise
01:52 – Pension funds are dropping
02:28 – What can you do about it?
02:50 – Live webinar discussing a variety of time frame charts
04:14 – Black Friday 2022 Sale – register here https://theforextradingcoach.com/black-friday-2022/

It's time to start thinking about securing your financial future, regardless of how old you are, regardless of how wealthy you might be, and regardless of where you live. Let's talk about this really important topic right now.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 480.

A lot of doom and gloom in the world right now

Thought I'd come outside this morning, early morning and record this video for you. There's a lot going on obviously around the world right now with inflation going up, cost of living going up, job uncertainties, wages not keeping up with inflation, and a lot of property values starting to drop. In fact, I saw just this morning reading one of the UK online papers, they're talking about potentially up to a 30% fall in their house prices. Property investors, maybe not such a good time now with higher interest rates and falling values if you already own property as well.

Mortgage rates and Interest rates rise

With mortgage rates going up and up, it's making things harder and harder for people to afford property, and so therefore it's not so attractive. Also, overnight my time, Britain has raised their cash rate from 2.25% up to 3%. That's actually a 33% rise, huge. Just this week, the US have also gone from 3.25% to 4%, and on Tuesday, Australia went from 2.6 to 2.85. Other countries did something similar just a week or so prior, and that's just this week, just those three countries.

Pension funds are dropping

We're also getting news about pension drops, and I saw again on an English online paper here, this comment about my pension fund has plunged, wiping out almost all the gains over the last eight years. People are saying, well, their pension funds, if they're coming up to retirement age, let's say. Your value of your pension fund some eight years ago is pretty much where you are right now because of the lowering values and just the bad performance of pension funds. All this comes down to the very obvious, I suppose the obvious question, not the obvious answer, so much.

What can you do about it?

The obvious question of what are you going to do about it, and how can you change this? Because obviously this is just spiralling out of control on so many different levels.

To me, there is a relatively straightforward answer, and it's to get trading or get educated into trading so you can try to figure out what you can do about this for yourself.

Live webinar discussing a variety of time frame charts

Now, just last night my time, I held a live webinar with our clients. We discussed a variety of timeframe charts, monthly charts of which we've got five trades on for the month of November.]]>364false1fullhttps://www.spreaker.com/episode/479-your-questions-asked-to-blueberry-markets--51729836
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Send an Email to Ben Clay
#479: Your Questions Asked to Blueberry Markets
In this video:
00:32 – I’m joined by Ben Clay at Blueberry Markets
01:16 – Q #1 – Opening an account
02:09 – Q #2 – Methods to fund an account
03:45 – Q #3 – Banks having issues with opening a trading account
04:58 – Q #4 – What’s the smallest account size?
07:07 – Q #5 – Making a request for something different from Blueberry Markets
07:46 – Q #6 – New markets available to trade
08:55 – Q #7 – How secure are my funds if I don’t live in Australia?
10:02 – Contacting Ben Clay directly at ben.clay@blueberrymarkets.com 

Andrew Mitchem:

Last week, I put some questions to our database and we've had some fantastic replies. We're going to interview Ben Clay at Blueberry Markets and find out how Blueberry can help you as a forex trader. Let's get into that and more right now.

Hi everybody. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 479.

I’m joined by Ben Clay at Blueberry Markets

We are very lucky today to be joined by Ben Clay, who's the partners manager over at Blueberry Markets. Welcome along Ben. Ben, how are you?

Ben Clay:

Thank you. Very well, Andrew. Always a pleasure to be here. Thanks for having me again.

Andrew Mitchem:

Awesome. Well, just to recap, last week I sent an email out to our database asking for people to come through with a group of questions, knowing that I was going to interview you this week and to be able to put those questions to you. So, thank you very much for helping out with these questions that we have to ask you.

So first one is from Steve, and Steve says he's never opened an account before. What is the process, and how complicated is it to set one up?

Q #1 – Opening an account

Ben Clay:

Yep, pretty straightforward. The application itself takes three to four minutes to complete on our website, and then you just need to upload the ID documents that it will request. Typically one government issued photo ID and then a proof of address that was issued in the last 90 days. And you can upload all that in the portal. The account's typically open within a few hours, or 24 hours or so.

Andrew Mitchem:

Cool. So pretty straightforward, really. In terms of opening a demo, how's that been?

Ben Clay:

That's basically the same. You would do that straight on our website. There's a section there that just says "Open a demo account." That's a lot faster. Obviously, you don't need to upload any ID documents. But there'll be two buttons on our website. "Open a demo account," "open a live account," and you can follow the steps there. And you can get demo accounts up and running within the client portal as well.

Andrew Mitchem:

Okay, awesome. No, I hope that answers that one for you, Steve.

Q #2 – Methods to fund an account

We have a question here from Gidivo, and it's regarding funding the accounts. And this specific question was about can I fund on a MasterCard credit card and fund and withdraw that way? Because in some countries that's possibly a little bit easier than going through onl...]]>https://theforextradingcoach.com/?p=14862Sun, 30 Oct 2022 12:00:15 +0000Andrew MitchemYour Questions Asked to Blueberry Markets  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click Here to Send an Email to Ben Clay #479: Your Questions Asked to Blueberry Markets In this...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Send an Email to Ben Clay
#479: Your Questions Asked to Blueberry Markets
In this video:
00:32 – I’m joined by Ben Clay at Blueberry Markets
01:16 – Q #1 – Opening an account
02:09 – Q #2 – Methods to fund an account
03:45 – Q #3 – Banks having issues with opening a trading account
04:58 – Q #4 – What’s the smallest account size?
07:07 – Q #5 – Making a request for something different from Blueberry Markets
07:46 – Q #6 – New markets available to trade
08:55 – Q #7 – How secure are my funds if I don’t live in Australia?
10:02 – Contacting Ben Clay directly at ben.clay@blueberrymarkets.com 

Andrew Mitchem:

Last week, I put some questions to our database and we've had some fantastic replies. We're going to interview Ben Clay at Blueberry Markets and find out how Blueberry can help you as a forex trader. Let's get into that and more right now.

Hi everybody. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 479.

I’m joined by Ben Clay at Blueberry Markets

We are very lucky today to be joined by Ben Clay, who's the partners manager over at Blueberry Markets. Welcome along Ben. Ben, how are you?

Ben Clay:

Thank you. Very well, Andrew. Always a pleasure to be here. Thanks for having me again.

Andrew Mitchem:

Awesome. Well, just to recap, last week I sent an email out to our database asking for people to come through with a group of questions, knowing that I was going to interview you this week and to be able to put those questions to you. So, thank you very much for helping out with these questions that we have to ask you.

So first one is from Steve, and Steve says he's never opened an account before. What is the process, and how complicated is it to set one up?

Q #1 – Opening an account

Ben Clay:

Yep, pretty straightforward. The application itself takes three to four minutes to complete on our website, and then you just need to upload the ID documents that it will request. Typically one government issued photo ID and then a proof of address that was issued in the last 90 days. And you can upload all that in the portal. The account's typically open within a few hours, or 24 hours or so.

Andrew Mitchem:

Cool. So pretty straightforward, really. In terms of opening a demo, how's that been?

Ben Clay:

That's basically the same. You would do that straight on our website. There's a section there that just says "Open a demo account." That's a lot faster. Obviously, you don't need to upload any ID documents. But there'll be two buttons on our website. "Open a demo account," "open a live account," and you can follow the steps there. And you can get demo accounts up and running within the client portal as well.

Andrew Mitchem:

Okay, awesome. No, I hope that answers that one for you, Steve.

Q #2 – Methods to fund an account

We have a question here from Gidivo, and it's regarding funding the accounts. And this specific question was about can I fund on a MasterCard credit card and fund and withdraw that way? Because in some countries that's possibly a little bit easier than going through onl...]]>696false1fullhttps://www.spreaker.com/episode/478-why-we-trade-multiple-time-frame-charts--51659312
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#478: Why We Trade Multiple Time Frame Charts
In this video:
00:26 – How looking at different time frame charts will help your trading
01:01 – If we had focused on 1 time frame chart
02:14 – More trade examples
02:45 – More successful trades on my live weekly webinar
03:39 – A higher probability of overall success
04:06 – I’ll be interviewing Ben Clay at Blueberry Markets

I'm going to explain why we look at multiple time frame charts each day. Let's talk about that and more, right now.

Hey there, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 478.

How looking at different time frame charts will help your trading

I want to explain why we look at different time frame charts and how it can really help you with your trading. This week's a really good example, and this week we haven't had a great deal happening on the longer time frame charts. We had no weekly chart trades, which is quite unusual. On Monday and again today, being Friday, we've had no daily chart trades. On Tuesday and Wednesday, we only had one daily chart trade, and on Thursday we had four. And of course, you cannot tell in advance what's happening and why and what the market's going to do.

If we had focused on 1 time frame chart

So if we had just focused purely on the daily charts this week and the weekly charts, we'd have had just six trades. However, we look at other time frame charts as well. But it doesn't mean to say that you are taking lots and lots of time to do that because if you can trade once a day and have a look at the charts when the daily charts close, you can also look at the 12 hour charts, the eight hour and the six hour. That's at 5:00 PM New York time. If you can also look at 5:00 AM New York time or any time after that, you can also look at two hour, four hour, six hour and 12 hour charts. And so because we take trades only at the close of a candle, I can quite easily trade once or just twice a day. It takes a maximum of 30 minutes to go through all those different time frame charts and give ourselves more trade setups.

Now, if you're the sort of person that trades just one hour charts or just 15 minute charts or just daily charts, you are really limiting yourself because you don't know what the market conditions are going to be. And that becomes quite a, not so much dangerous, but limiting factor on your trading.

More trade examples

So, some more examples. This week at the Wednesday, 5:00 AM time frame changeover, I'm on our forum site at that time. I posted five trades, two of them on the 12 hour charts and three of them on the six hour charts. Out of those five trades, four out of the five have been profitable, one's still in and it's in slight profit. So, so far we're a hundred percent profitable success. One trade's still to go on the 12 hour chart.

More successful trades on my live weekly webinar

And then last night, my time, on our live weekly European session webinar, which I hold, next week's a US session webinar with Paul over in America, but I held the European session webinar last night, my time, European morning. And on that session I took two trades on the two hour charts. We took a New Zealand Swiss Franc two hour chart trade, which was very profitable, made a three to one reward to risk.]]>https://theforextradingcoach.com/?p=14847Sun, 23 Oct 2022 12:00:17 +0000Andrew MitchemWhy We Trade Multiple Time Frame Charts  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #478: Why We Trade Multiple Time Frame Charts In this video: 00:26 – How looking at different...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#478: Why We Trade Multiple Time Frame Charts
In this video:
00:26 – How looking at different time frame charts will help your trading
01:01 – If we had focused on 1 time frame chart
02:14 – More trade examples
02:45 – More successful trades on my live weekly webinar
03:39 – A higher probability of overall success
04:06 – I’ll be interviewing Ben Clay at Blueberry Markets

I'm going to explain why we look at multiple time frame charts each day. Let's talk about that and more, right now.

Hey there, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 478.

How looking at different time frame charts will help your trading

I want to explain why we look at different time frame charts and how it can really help you with your trading. This week's a really good example, and this week we haven't had a great deal happening on the longer time frame charts. We had no weekly chart trades, which is quite unusual. On Monday and again today, being Friday, we've had no daily chart trades. On Tuesday and Wednesday, we only had one daily chart trade, and on Thursday we had four. And of course, you cannot tell in advance what's happening and why and what the market's going to do.

If we had focused on 1 time frame chart

So if we had just focused purely on the daily charts this week and the weekly charts, we'd have had just six trades. However, we look at other time frame charts as well. But it doesn't mean to say that you are taking lots and lots of time to do that because if you can trade once a day and have a look at the charts when the daily charts close, you can also look at the 12 hour charts, the eight hour and the six hour. That's at 5:00 PM New York time. If you can also look at 5:00 AM New York time or any time after that, you can also look at two hour, four hour, six hour and 12 hour charts. And so because we take trades only at the close of a candle, I can quite easily trade once or just twice a day. It takes a maximum of 30 minutes to go through all those different time frame charts and give ourselves more trade setups.

Now, if you're the sort of person that trades just one hour charts or just 15 minute charts or just daily charts, you are really limiting yourself because you don't know what the market conditions are going to be. And that becomes quite a, not so much dangerous, but limiting factor on your trading.

More trade examples

So, some more examples. This week at the Wednesday, 5:00 AM time frame changeover, I'm on our forum site at that time. I posted five trades, two of them on the 12 hour charts and three of them on the six hour charts. Out of those five trades, four out of the five have been profitable, one's still in and it's in slight profit. So, so far we're a hundred percent profitable success. One trade's still to go on the 12 hour chart.

More successful trades on my live weekly webinar

And then last night, my time, on our live weekly European session webinar, which I hold, next week's a US session webinar with Paul over in America, but I held the European session webinar last night, my time, European morning. And on that session I took two trades on the two hour charts. We took a New Zealand Swiss Franc two hour chart trade, which was very profitable, made a three to one reward to risk.]]>332false1fullhttps://www.spreaker.com/episode/477-learning-from-the-all-blacks--51588271
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#477: Learning from the All Blacks
In this video:
00:29 – I’ve been watching the New Zealand All Blacks train
01:14 – Trader getting burnt out
02:19 – Watch last week’s video where I shared by trading day
03:03 – Do something that is proven
04:20 – The system makes life easier for the players
05:04 – Where you can find high quality training
05:25 – Looking for a good broker?
06:06 – Do you also like quality? 

I'm going to talk about how you can train like the mighty New Zealand All Blacks and how you can be successful as a trader just like they are in world rugby. Let's talk about that a more right now.

Hey there traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 477.

I’ve been watching the New Zealand All Blacks train

I've just been with my youngest daughter, Amber, to watch the mighty New Zealand all Black team train here in Nelson. They did an open training session this morning where everybody could go along and watch their final training before next week. They head off to Japan for the start of their Northern Hemisphere winter tour over there and then over to Britain. And I think they're playing Scotland and Ireland and France and Wales. Great to see them, but from what I got out of it is to see how well oiled they are. A fantastic working machine that has proven success and also a machine that looks after the player welfare. So I'll come back to All Blacks shortly.

Trader getting burnt out

I received an email this week from a trader who's not a client over in the UK, and he was talking about burnout. And he was saying, Look, Andrew, why is it that you are still trading? What is it that you do differently to me, because I'm just getting exhausted. I'm burnt out. I'm that FOMO. He's getting FOMO, the fear of missing out. He's scared to leave charts, he's fearful that he's going to miss trades, all that type of stuff going on in his head. And I said to him, Look, well, before I can really help you, tell me how you are trading right now. And he came back and he said he's trading a mixture of five minute charts and news trading.

So he is trading European mornings, he's trading the US time, he's looking for high impact news events. He's stressed about being there. When do you put a trade on? When do you take it off? Looking at five minute charts all the time. And so it's just constantly, it's like a hamster going round on a wheel, it's just never ending.

Watch last week’s video where I shared by trading day

And I said to him, Well, first of all, go and have a look at my video from last week. If you haven't seen the video on podcast or listened to a video on podcast number 476. Last week, I shared with you a trading day when I traded just twice a day. And by the way, those trades did really well and I took you for a flight in my helicopter. So which would you rather be? Would you rather be just looking at your charts twice a day, taking trades and doing really well with low risk and low stress and doing things that you enjoy, or would you rather just sit there just, not quite 24 hours a day, but getting close. Like this guy in the UK. He's just sitting, just lethargic, just not getting out and doing stuff, and the trading's just taking over his life and it's becoming a nightmare.]]>https://theforextradingcoach.com/?p=14832Sun, 16 Oct 2022 12:00:36 +0000Andrew MitchemLearning from the All Blacks  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #477: Learning from the All Blacks In this video: 00:29 – I’ve been watching the New Zealand All Blacks...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#477: Learning from the All Blacks
In this video:
00:29 – I’ve been watching the New Zealand All Blacks train
01:14 – Trader getting burnt out
02:19 – Watch last week’s video where I shared by trading day
03:03 – Do something that is proven
04:20 – The system makes life easier for the players
05:04 – Where you can find high quality training
05:25 – Looking for a good broker?
06:06 – Do you also like quality? 

I'm going to talk about how you can train like the mighty New Zealand All Blacks and how you can be successful as a trader just like they are in world rugby. Let's talk about that a more right now.

Hey there traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 477.

I’ve been watching the New Zealand All Blacks train

I've just been with my youngest daughter, Amber, to watch the mighty New Zealand all Black team train here in Nelson. They did an open training session this morning where everybody could go along and watch their final training before next week. They head off to Japan for the start of their Northern Hemisphere winter tour over there and then over to Britain. And I think they're playing Scotland and Ireland and France and Wales. Great to see them, but from what I got out of it is to see how well oiled they are. A fantastic working machine that has proven success and also a machine that looks after the player welfare. So I'll come back to All Blacks shortly.

Trader getting burnt out

I received an email this week from a trader who's not a client over in the UK, and he was talking about burnout. And he was saying, Look, Andrew, why is it that you are still trading? What is it that you do differently to me, because I'm just getting exhausted. I'm burnt out. I'm that FOMO. He's getting FOMO, the fear of missing out. He's scared to leave charts, he's fearful that he's going to miss trades, all that type of stuff going on in his head. And I said to him, Look, well, before I can really help you, tell me how you are trading right now. And he came back and he said he's trading a mixture of five minute charts and news trading.

So he is trading European mornings, he's trading the US time, he's looking for high impact news events. He's stressed about being there. When do you put a trade on? When do you take it off? Looking at five minute charts all the time. And so it's just constantly, it's like a hamster going round on a wheel, it's just never ending.

Watch last week’s video where I shared by trading day

And I said to him, Well, first of all, go and have a look at my video from last week. If you haven't seen the video on podcast or listened to a video on podcast number 476. Last week, I shared with you a trading day when I traded just twice a day. And by the way, those trades did really well and I took you for a flight in my helicopter. So which would you rather be? Would you rather be just looking at your charts twice a day, taking trades and doing really well with low risk and low stress and doing things that you enjoy, or would you rather just sit there just, not quite 24 hours a day, but getting close. Like this guy in the UK. He's just sitting, just lethargic, just not getting out and doing stuff, and the trading's just taking over his life and it's becoming a nightmare.]]>389false1fullhttps://www.spreaker.com/episode/476-my-trading-day-helicopter-flight--51513725
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#476: My Trading Day & Helicopter Flight
In this video:
00:31 – My trading Day & Helicopter flying
00:53 – Taking 5 trades on the D1, H12, H6 and H4 charts
01:47 – Trading done and Pre-flight done
02:21 – Flying from Nelson to Awaroa
02:41 – Check my trades and ready to fly home
03:23 – An H4 trade at the 5am EST changeover

Today I'm going to share with you my trading day. We're going to start here taking some trades off the daily charts very shortly. Then I'm going to take you on a helicopter flight, where I'll be flying myself, and then I'll be back here to trade some more tonight. Let's get into that and more right now.

Hey there traders, this is Andrew Mitchem, here at the Forex Trading Coach, with video and podcast number 476.

Taking 5 trades on the D1, H12, H6 and H4 charts

We've got a real special day lined up for you today. It is coming up to about 10 to 10:00 in the morning here. The daily charts are about to change over at my 10:00 AM, which is coming up to 5:00 PM New York time. I'm going to scan through the daily charts right now, and then I'm going to go through the 12-hour, the 8-hour, and the 6-hour charts, and I'm going to come back shortly and let you know what I'm trading.

Trading done and Pre-flight done

Righty. So here we are back again, just some 20 minutes later. I've been through the daily charts, the 12, the 8, and the 6, on the forex and non-forex pairs. This is what I am trading today on the daily charts. I am taking a trade on the Euro Swiss Franc, and also on the pound New Zealand. So both sell trades, Euro Swiss Franc, sell pound New Zealand, sell on the Dailies. I'm also taking a H4 chart trade on silver as a buy trade, a H6 gold trade against the US and a Euro Australian H12 chart trade. So all up I have got five trades that I'm taking now, and that's it for the morning. Next stop helicopter time.

Okay, so we're inside. All the pre-flights are done. Everything's all checked in here, and we're ready to start up in the next few minutes, going for a nice flight. Little bit like trading. You do your homework, you do your due diligence, you do all your testing, and then once everything's been thoroughly checked, you take your trades. I've actually just checked the gold and silver trades that I mentioned earlier, they're going really, really well, especially the silver trade. The silver H4 forex chart's just going tremendously well. So, really nice to see. I'll update you once we start flying. Talk soon.

Check my trades and ready to fly home

So just had a nice couple of hours with some friends here at Awaroa, which is north of Nelson. Beautiful, very remote place here. Got a bit of a landing spot here for us. And yeah, just checked my phone. We do have reception here, so just checked the phone, see the trades are still going really well. Actually, better than when I left. So heading back now, and then I'll come back on when we're at home tonight, looking at the changeover of the 5:00 AM Eastern Standard Time charts. And I'll be looking at the 2 hour, 4 hour, 6 and 12 hours, and I'll update you on the progress of today's trades at that stage and hopefully take a few more trades. Talk to you soon.

Flying from Nelson to Awaroa

1500 feet flying out from Nelson going to Awaroa. Good day outside.]]>https://theforextradingcoach.com/?p=14818Sun, 09 Oct 2022 12:00:47 +0000Andrew MitchemHow to Best Use Divergence in the Forex Market  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #476: My Trading Day & Helicopter Flight In this video: 00:31 – My trading Day & Helicopter...
Podcast:

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#476: My Trading Day & Helicopter Flight
In this video:
00:31 – My trading Day & Helicopter flying
00:53 – Taking 5 trades on the D1, H12, H6 and H4 charts
01:47 – Trading done and Pre-flight done
02:21 – Flying from Nelson to Awaroa
02:41 – Check my trades and ready to fly home
03:23 – An H4 trade at the 5am EST changeover

Today I'm going to share with you my trading day. We're going to start here taking some trades off the daily charts very shortly. Then I'm going to take you on a helicopter flight, where I'll be flying myself, and then I'll be back here to trade some more tonight. Let's get into that and more right now.

Hey there traders, this is Andrew Mitchem, here at the Forex Trading Coach, with video and podcast number 476.

Taking 5 trades on the D1, H12, H6 and H4 charts

We've got a real special day lined up for you today. It is coming up to about 10 to 10:00 in the morning here. The daily charts are about to change over at my 10:00 AM, which is coming up to 5:00 PM New York time. I'm going to scan through the daily charts right now, and then I'm going to go through the 12-hour, the 8-hour, and the 6-hour charts, and I'm going to come back shortly and let you know what I'm trading.

Trading done and Pre-flight done

Righty. So here we are back again, just some 20 minutes later. I've been through the daily charts, the 12, the 8, and the 6, on the forex and non-forex pairs. This is what I am trading today on the daily charts. I am taking a trade on the Euro Swiss Franc, and also on the pound New Zealand. So both sell trades, Euro Swiss Franc, sell pound New Zealand, sell on the Dailies. I'm also taking a H4 chart trade on silver as a buy trade, a H6 gold trade against the US and a Euro Australian H12 chart trade. So all up I have got five trades that I'm taking now, and that's it for the morning. Next stop helicopter time.

Okay, so we're inside. All the pre-flights are done. Everything's all checked in here, and we're ready to start up in the next few minutes, going for a nice flight. Little bit like trading. You do your homework, you do your due diligence, you do all your testing, and then once everything's been thoroughly checked, you take your trades. I've actually just checked the gold and silver trades that I mentioned earlier, they're going really, really well, especially the silver trade. The silver H4 forex chart's just going tremendously well. So, really nice to see. I'll update you once we start flying. Talk soon.

Check my trades and ready to fly home

So just had a nice couple of hours with some friends here at Awaroa, which is north of Nelson. Beautiful, very remote place here. Got a bit of a landing spot here for us. And yeah, just checked my phone. We do have reception here, so just checked the phone, see the trades are still going really well. Actually, better than when I left. So heading back now, and then I'll come back on when we're at home tonight, looking at the changeover of the 5:00 AM Eastern Standard Time charts. And I'll be looking at the 2 hour, 4 hour, 6 and 12 hours, and I'll update you on the progress of today's trades at that stage and hopefully take a few more trades. Talk to you soon.

Flying from Nelson to Awaroa

1500 feet flying out from Nelson going to Awaroa. Good day outside.]]>331falsefullhttps://www.spreaker.com/episode/475-how-to-best-use-divergence-in-the-forex-market--51442914
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#475: How to Best Use Divergence in the Forex Market
In this video:
00:26 – Using Divergence
01:27 – The 2 types of Divergence
02:22 – Reversals and Continuation Patterns
03:49 – Continuation Patterns are Higher Probability Trades
04:59 – Regular and Hidden Divergence
05:32 – Blueberry Markets for MT4 and MT5

Does divergence really work in the Forex market? And if so, how can you best use it? Let's talk about that a more right now.

Hey, there Forex traders, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 475.

Using Divergence

I want to give you a really good bit of trading information here regarding the use of divergence. And you'd know that if you've been following me for any length of time, I use predominantly candle patterns. I look at price action, I look at support and resistance levels and strength and weakness on the charts, as that to me is the most important information. However, there is one indicator that I use of the more traditional lagging indicators, and that is the stochastic indicator. And I use that in a few ways. It helps me to determine if the price is overboard or oversold.

And what that means is if the price is going up and up and up and it's then overbought. If I were to see a reversal pattern, that means that it's in quite a high probability part of the chart, that the price cannot keep going up forever and therefore it's lightly to then pull back. And I can take a potential cell position, but I also use the stochastics to help me with divergence.

The 2 types of Divergence

Now, there are two types of divergence, those regular or standard divergence, and there is what we call hidden divergence. Now, in basic terms, divergence is when, let's say the indicator is going one way, but in reality the price is going the other. And that causes a divergence. One thing's heading up, the other's heading down, and you get the opposite, like the conflict going on there. So that is a divergence. Now there's sort of more specifics that we look at than that, whether we're looking at that happening with the lows and the price getting higher or the highs and the price getting lower, different things like that.

But in basic terms, divergence means price going one way, the indicator suggests the price should be going the other way, and then you generally get a reversal or a continuation happening. So it's a really good early warning system for you as well.

Reversals and Continuation Patterns

So two ways of trading it for me reversals. That is when you get regular divergence with the price coming off the bottom or the upper Bollinger Band area. So in other words, the price is either oversold if it's at the bottom Bollinger Band or overbought. If it's at the upper Bollinger Band and stochastics are either low below the 20 or high above the 80 level. And if you get that showing, then you have yourself a high probability chance of a reversal trade. Now of course, you cannot just say, "Here's a positive divergence signal, the market's oversold the price is going to go up." It's not as simple as that.

You still need the candle pattern and you still need it to come off the right price level. Strength and weakness is always important. If you get a trend line break,]]>https://theforextradingcoach.com/?p=14806Sun, 02 Oct 2022 12:00:24 +0000Andrew MitchemHow to Best Use Divergence in the Forex Market  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #475: How to Best Use Divergence in the Forex Market In this video: 00:26 – Using...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#475: How to Best Use Divergence in the Forex Market
In this video:
00:26 – Using Divergence
01:27 – The 2 types of Divergence
02:22 – Reversals and Continuation Patterns
03:49 – Continuation Patterns are Higher Probability Trades
04:59 – Regular and Hidden Divergence
05:32 – Blueberry Markets for MT4 and MT5

Does divergence really work in the Forex market? And if so, how can you best use it? Let's talk about that a more right now.

Hey, there Forex traders, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 475.

Using Divergence

I want to give you a really good bit of trading information here regarding the use of divergence. And you'd know that if you've been following me for any length of time, I use predominantly candle patterns. I look at price action, I look at support and resistance levels and strength and weakness on the charts, as that to me is the most important information. However, there is one indicator that I use of the more traditional lagging indicators, and that is the stochastic indicator. And I use that in a few ways. It helps me to determine if the price is overboard or oversold.

And what that means is if the price is going up and up and up and it's then overbought. If I were to see a reversal pattern, that means that it's in quite a high probability part of the chart, that the price cannot keep going up forever and therefore it's lightly to then pull back. And I can take a potential cell position, but I also use the stochastics to help me with divergence.

The 2 types of Divergence

Now, there are two types of divergence, those regular or standard divergence, and there is what we call hidden divergence. Now, in basic terms, divergence is when, let's say the indicator is going one way, but in reality the price is going the other. And that causes a divergence. One thing's heading up, the other's heading down, and you get the opposite, like the conflict going on there. So that is a divergence. Now there's sort of more specifics that we look at than that, whether we're looking at that happening with the lows and the price getting higher or the highs and the price getting lower, different things like that.

But in basic terms, divergence means price going one way, the indicator suggests the price should be going the other way, and then you generally get a reversal or a continuation happening. So it's a really good early warning system for you as well.

Reversals and Continuation Patterns

So two ways of trading it for me reversals. That is when you get regular divergence with the price coming off the bottom or the upper Bollinger Band area. So in other words, the price is either oversold if it's at the bottom Bollinger Band or overbought. If it's at the upper Bollinger Band and stochastics are either low below the 20 or high above the 80 level. And if you get that showing, then you have yourself a high probability chance of a reversal trade. Now of course, you cannot just say, "Here's a positive divergence signal, the market's oversold the price is going to go up." It's not as simple as that.

You still need the candle pattern and you still need it to come off the right price level. Strength and weakness is always important. If you get a trend line break,]]>388falsefullhttps://www.spreaker.com/episode/474-do-you-lack-the-capital-to-trade-well--51375170
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#474: Do You Lack The Capital to Trade Well?
In this video:
00:23 – Do you lack capital to trade well?
01:20 – Control your heart and your head
01:46 – Learn how to trade first
02:56 – Understanding the markets
03:36 – Going to University
04:05 – Get yourself into Prop firm trading
06:05 – Blueberry Markets
06:38 – The Successful Trader System 

Is a lack of trading capital one of your biggest problems that you face in order to become a successful trader? If that sounds like you, listen up, I've got some great tips and information to really help you. Hi, everybody. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 474.

Do you lack capital to trade well?

Now, if lack of capital is one of the issues that you have as a trader, I've just got some great tips to help you. Because every day, I get email from people that say, "How much do I need in my trading account in order to give up my job? How much do I need in my trading account to be able to pay for your course? I don't have enough money. If I pay for your course, it's going to drain my existing trading account. I don't have any extra spare cash to put into it. I'm worried that if I start off with five or 10 grand, I don't have anything else to add. I'm worried if I start with too much even, then I'm going to lose money and I'm going to be scared and not want to trade again."

So it's all these kind of money-related issues going round in the heads of pretty much everybody out there looking to trade.

Control your heart and your head

Now, I always say there's two things you need to control in your trading, one is your heart and the other is your head. You need to get both of those two under control. To do that, you need things like a strategy. You need mentorship. You need assistance, support to know what you're doing, low-risk money management, all those type of things. But the problem is if you haven't got enough money to start with, people feel that none of that matters, whereas in reality, it should be the opposite.

Learn how to trade first

You see, to me, the most important thing right now for you to do is to learn how to trade. Your account size today, how much money you have available of your own personal money to trade within your account right now or even to look at adding to your account is completely and utterly irrelevant. It has almost zero bearing on whether you can learn how to trade properly.

You see, you flip it the other way around. You could come to me and go, "Andrew, I've got a million dollars. Send in my account and I'm ready to start trading. I'm a multi multimillionaire. I'm just going to throw a million dollars at it and see what happens." You can guarantee that that person is also going to lose money, lose confidence, and give up trading. So it really doesn't matter if a thousand dollars is a massive amount to you or a million dollars is a tiny amount, does not matter one little bit unless you know how to trade properly. So that's why I say you this, the size of your account, the size of your capital, your wealth, all of that is completely and utterly irrelevant unless you know what you're doing and how to trade.

Understanding the markets

So it comes down to understanding the market, knowing what to look for,]]>https://theforextradingcoach.com/?p=14799Sun, 25 Sep 2022 12:00:56 +0000Andrew MitchemDo You Lack The Capital to Trade Well?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #474: Do You Lack The Capital to Trade Well? In this video: 00:23 – Do you lack capital to...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#474: Do You Lack The Capital to Trade Well?
In this video:
00:23 – Do you lack capital to trade well?
01:20 – Control your heart and your head
01:46 – Learn how to trade first
02:56 – Understanding the markets
03:36 – Going to University
04:05 – Get yourself into Prop firm trading
06:05 – Blueberry Markets
06:38 – The Successful Trader System 

Is a lack of trading capital one of your biggest problems that you face in order to become a successful trader? If that sounds like you, listen up, I've got some great tips and information to really help you. Hi, everybody. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 474.

Do you lack capital to trade well?

Now, if lack of capital is one of the issues that you have as a trader, I've just got some great tips to help you. Because every day, I get email from people that say, "How much do I need in my trading account in order to give up my job? How much do I need in my trading account to be able to pay for your course? I don't have enough money. If I pay for your course, it's going to drain my existing trading account. I don't have any extra spare cash to put into it. I'm worried that if I start off with five or 10 grand, I don't have anything else to add. I'm worried if I start with too much even, then I'm going to lose money and I'm going to be scared and not want to trade again."

So it's all these kind of money-related issues going round in the heads of pretty much everybody out there looking to trade.

Control your heart and your head

Now, I always say there's two things you need to control in your trading, one is your heart and the other is your head. You need to get both of those two under control. To do that, you need things like a strategy. You need mentorship. You need assistance, support to know what you're doing, low-risk money management, all those type of things. But the problem is if you haven't got enough money to start with, people feel that none of that matters, whereas in reality, it should be the opposite.

Learn how to trade first

You see, to me, the most important thing right now for you to do is to learn how to trade. Your account size today, how much money you have available of your own personal money to trade within your account right now or even to look at adding to your account is completely and utterly irrelevant. It has almost zero bearing on whether you can learn how to trade properly.

You see, you flip it the other way around. You could come to me and go, "Andrew, I've got a million dollars. Send in my account and I'm ready to start trading. I'm a multi multimillionaire. I'm just going to throw a million dollars at it and see what happens." You can guarantee that that person is also going to lose money, lose confidence, and give up trading. So it really doesn't matter if a thousand dollars is a massive amount to you or a million dollars is a tiny amount, does not matter one little bit unless you know how to trade properly. So that's why I say you this, the size of your account, the size of your capital, your wealth, all of that is completely and utterly irrelevant unless you know what you're doing and how to trade.

Understanding the markets

So it comes down to understanding the market, knowing what to look for,]]>436falsefullhttps://www.spreaker.com/episode/473-do-you-think-your-government-really-cares-about-you--51297948
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#473: Do You Think Your Government Really Cares About You?
In this video:
00:41 – A quote from Robert Kiyosaki
01:20 – It’s a good time to be alive
02:33 – Wanting more handouts
03:52 – Forex is a way to help you achieve cash flow
04:42 – Trades get posted on our Forum site
05:12 – Blueberry Markets

Are you waiting for your government to save you? Are you waiting to win the lottery? Are you ready to win on the horses? Or are you ready to leave that whole mindset behind and do something to look after yourself and protect your future? Let's talk about that more right now. Hey there traders. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 473. Come outside again today, such a beautiful day. Couldn't film inside at the charts.

A quote from Robert Kiyosaki

I wanted to read something for you and it's come from someone who I've followed for years and years. You probably know him, a guy called Robert Kiyosaki, who wrote the Rich Dad, Poor Dad books, someone that I followed years ago and I credit a lot of the way that I think and finances, et cetera, to Robert Kiyosaki. So I'd like to read this. I haven't asked for permission for this. This is just something he's emailed through to his list of which I'm one of, so I'm going to read it out for you anyway, and I think it's really relevant for us as Forex Traders. So here we go.

It’s a good time to be alive

Robert says, "We are all being bombarded with bad news, bad advice, and people telling us how bad things are. I don't buy it. I'm tired of it. The media and the governments of the world are telling people that we need to be saved. I even feel they're trying to control me. I'd like to offer a different mindset for you. Yes, we've all had challenges, but I'm optimistic, and I think this is a great time to be alive. And instead of telling you to wait for the government to save you, it's time to save yourself. There has never been a more important time for you to stop wanting or waiting on the government or your employer or others to provide for you or your family and your financial future. They can't save you. They won't save you, and the truth is no one cares about your financial future like you do, or you should do. It's time to save yourself. You know it and I know it. Take control of your financial future, get yourself educated, surround yourself for people who are doing the same thing and leave the victim mindset behind." And I read that and I thought that's such a short but powerful and true statement.

Wanting more handouts

The victim mentality and mindset's everywhere. People were just after more and more handouts from governments. They think the government's going to save them. They think they've done that with the health over the last two years. No, they haven't. They think you're going to get payouts from them. No, it's your money after all. Everybody who's paid taxes pays into it. All they're doing is creating debt. If you think that some government retirement scheme or anything like that's going to protect you, who knows by the time that we get to retire, there may not even be retirement funds. Some countries there aren't anyway.

So what he said there is absolute truth. No one cares about your finances. You do and you should do, but no one else really cares.]]>https://theforextradingcoach.com/?p=14789Sun, 18 Sep 2022 12:00:57 +0000Andrew MitchemDo You Think Your Government Really Cares About You?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #473: Do You Think Your Government Really Cares About You? In this video: 00:41 –...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#473: Do You Think Your Government Really Cares About You?
In this video:
00:41 – A quote from Robert Kiyosaki
01:20 – It’s a good time to be alive
02:33 – Wanting more handouts
03:52 – Forex is a way to help you achieve cash flow
04:42 – Trades get posted on our Forum site
05:12 – Blueberry Markets

Are you waiting for your government to save you? Are you waiting to win the lottery? Are you ready to win on the horses? Or are you ready to leave that whole mindset behind and do something to look after yourself and protect your future? Let's talk about that more right now. Hey there traders. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 473. Come outside again today, such a beautiful day. Couldn't film inside at the charts.

A quote from Robert Kiyosaki

I wanted to read something for you and it's come from someone who I've followed for years and years. You probably know him, a guy called Robert Kiyosaki, who wrote the Rich Dad, Poor Dad books, someone that I followed years ago and I credit a lot of the way that I think and finances, et cetera, to Robert Kiyosaki. So I'd like to read this. I haven't asked for permission for this. This is just something he's emailed through to his list of which I'm one of, so I'm going to read it out for you anyway, and I think it's really relevant for us as Forex Traders. So here we go.

It’s a good time to be alive

Robert says, "We are all being bombarded with bad news, bad advice, and people telling us how bad things are. I don't buy it. I'm tired of it. The media and the governments of the world are telling people that we need to be saved. I even feel they're trying to control me. I'd like to offer a different mindset for you. Yes, we've all had challenges, but I'm optimistic, and I think this is a great time to be alive. And instead of telling you to wait for the government to save you, it's time to save yourself. There has never been a more important time for you to stop wanting or waiting on the government or your employer or others to provide for you or your family and your financial future. They can't save you. They won't save you, and the truth is no one cares about your financial future like you do, or you should do. It's time to save yourself. You know it and I know it. Take control of your financial future, get yourself educated, surround yourself for people who are doing the same thing and leave the victim mindset behind." And I read that and I thought that's such a short but powerful and true statement.

Wanting more handouts

The victim mentality and mindset's everywhere. People were just after more and more handouts from governments. They think the government's going to save them. They think they've done that with the health over the last two years. No, they haven't. They think you're going to get payouts from them. No, it's your money after all. Everybody who's paid taxes pays into it. All they're doing is creating debt. If you think that some government retirement scheme or anything like that's going to protect you, who knows by the time that we get to retire, there may not even be retirement funds. Some countries there aren't anyway.

So what he said there is absolute truth. No one cares about your finances. You do and you should do, but no one else really cares.]]>351falsefullhttps://www.spreaker.com/episode/472-ready-to-give-up-on-forex--51217588
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#471: Ready to Give Up on Forex?
In this video:
00:34 – Frustrated and ready to quit trading?
00:59 – One of our traders when from quitting to profitable in 4 months
01:33 – They gave it one last go
02:23 – Profitable on a live account and soon to join a Prop firm
03:10 – Don’t give up without trying the TFTC approach to trading
03:56 – Choosing a good Forex broker
04:36 – We’re here to help

Are you about to give up on the Forex market? Are you just finding that you're frustrated, you're wasting money, wasting time? It's just not working. Everybody thinks you're gambling, and you just think it's a complete farce. It's not for you. If that is you, this video is exactly what you need to hear. So before you quit, make sure you listen to this.

Hey there traders, it's Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 472.

Frustrated and ready to quit trading?

Now, this video is especially for you if you've been trading for a little while and it's just not working. You feel like you're wasting your money, wasting your time. You've done courses, you've been through forums, and it's just nothing's happening. You're constantly going backwards, you're losing money. I feel the frustration. I've been there myself. It took me four years before I finally became profitable with my own trading.

One of our traders when from quitting to profitable in 4 months

But I want to talk about a client who I was talking to just yesterday. They first contacted me back in May, just over four months ago. And at that stage, they were ready to quit. They were ready to give up. It was just a waste of their time, really. It was all these things, these promises they'd seen online. They'd been on various forums, bought expert advisors, done various courses, indicators. You name it, they'd been there and done it. Like I had, and probably if this is for you, this video, you'd know exactly how they were feeling.

They gave it one last go

And so, they decided to give it one last shot. And after talking to a client of mine who'd been with me for about a year and a half, they decided to give it a go and they came on board at the Forex Trading Coach.

And we had a catch up yesterday, and it was very pleasing to have the catch-up and just see their complete change in attitude, their change in fortunes of how things are now working out for them. Because they've now got a clear strategy, they belong to a group, a community. They know what to trade, they know when to trade. They have information given to them on a daily basis to actually aid them with their learning process, with specific trades that are profitable. And the change is just incredible in four months.

Profitable on a live account and soon to join a Prop firm

And with this person, the last two months, they've been profitable on a live account and then they're looking at going on to a prop firm at the end of September. So probably into the first week of October, looking at going on to a prop firm challenge. And now that they've proven to themselves, after a month or so of demo and then a couple of months of live personal account, live trading and results, that they're ready to go to that next level.

And the webinar was just a fantastic, just a really good catch-up,]]>https://theforextradingcoach.com/?p=14779Sun, 11 Sep 2022 10:55:22 +0000Andrew MitchemReady to Give Up on Forex?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #471: Ready to Give Up on Forex? In this video: 00:34 – Frustrated and ready to quit trading? 00:59 – One of...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#471: Ready to Give Up on Forex?
In this video:
00:34 – Frustrated and ready to quit trading?
00:59 – One of our traders when from quitting to profitable in 4 months
01:33 – They gave it one last go
02:23 – Profitable on a live account and soon to join a Prop firm
03:10 – Don’t give up without trying the TFTC approach to trading
03:56 – Choosing a good Forex broker
04:36 – We’re here to help

Are you about to give up on the Forex market? Are you just finding that you're frustrated, you're wasting money, wasting time? It's just not working. Everybody thinks you're gambling, and you just think it's a complete farce. It's not for you. If that is you, this video is exactly what you need to hear. So before you quit, make sure you listen to this.

Hey there traders, it's Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 472.

Frustrated and ready to quit trading?

Now, this video is especially for you if you've been trading for a little while and it's just not working. You feel like you're wasting your money, wasting your time. You've done courses, you've been through forums, and it's just nothing's happening. You're constantly going backwards, you're losing money. I feel the frustration. I've been there myself. It took me four years before I finally became profitable with my own trading.

One of our traders when from quitting to profitable in 4 months

But I want to talk about a client who I was talking to just yesterday. They first contacted me back in May, just over four months ago. And at that stage, they were ready to quit. They were ready to give up. It was just a waste of their time, really. It was all these things, these promises they'd seen online. They'd been on various forums, bought expert advisors, done various courses, indicators. You name it, they'd been there and done it. Like I had, and probably if this is for you, this video, you'd know exactly how they were feeling.

They gave it one last go

And so, they decided to give it one last shot. And after talking to a client of mine who'd been with me for about a year and a half, they decided to give it a go and they came on board at the Forex Trading Coach.

And we had a catch up yesterday, and it was very pleasing to have the catch-up and just see their complete change in attitude, their change in fortunes of how things are now working out for them. Because they've now got a clear strategy, they belong to a group, a community. They know what to trade, they know when to trade. They have information given to them on a daily basis to actually aid them with their learning process, with specific trades that are profitable. And the change is just incredible in four months.

Profitable on a live account and soon to join a Prop firm

And with this person, the last two months, they've been profitable on a live account and then they're looking at going on to a prop firm at the end of September. So probably into the first week of October, looking at going on to a prop firm challenge. And now that they've proven to themselves, after a month or so of demo and then a couple of months of live personal account, live trading and results, that they're ready to go to that next level.

And the webinar was just a fantastic, just a really good catch-up,]]>292falsefullhttps://www.spreaker.com/episode/471-what-makes-a-good-reversal-trade--51137866
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#471: What Makes a Good Reversal Trade?
In this video:
00:24 – What do we look for when looking for a reversal trade?
01:08 – Getting ready for a new trade
01:26 – What exactly are we looking for?
03:13 – Don’t forget to look at the price
05:00 – Bollinger bands give us more clues
06:45 – We trade Reversals and Continuation Patterns
08:30 – Blueberry Markets for MT4 and MT5
09:13 – Look at my 5 Star Rated Forex Coaching Program

What clues do we look for to suggest that a trend is about to reverse? Let's talk about that and more right now.

Hey there, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 471.

What do we look for when looking for a reversal trade?

Want to talk about reversals today and what constitutes a good reversal, what do we look for to suggest that a reversal is about to take place.

You can use this in many different ways. You could use this, let's say, you were in a buy trade and the market's moving up beautifully. It hasn't quite got to your profit target, let's say, and you might see some form of indication that the market is about to reverse against your long or your buy position. That's something that could help you to suggest to either get out of the trade altogether early, or maybe partially close from trade, or maybe move to stop loss. But there's clues there that I'm going to talk about that can help protect that trade if you are already in a trade.

Getting ready for a new trade

If you're not already in a trade and you've seen the market moving up and you've missed that trend, but all of a sudden, you now see a few clues that I'm going to mention that will help you to take a short position against that uptrend, then that is also a very good trading opportunity.

What exactly are we looking for?

What is it that we're looking for? To start with, to make things easy, I'm going to be talking about a current uptrend and then a bearish reversal.

If we're looking for a bearish reversal for me, I look at candle patterns and I'm looking for outside or engulfing candles. But I don't just look at every single engulfing or outside candle go there as a sell trade. Absolutely not. There's other things that we want to see.

If we're looking for a bearish reversal, first of all, we need to see there's been a good, strong prior uptrend first. The reason for that is not every uptrend can keep going obviously. Everything will stall and exhaust and then turn around. We're looking for that turnaround because this is talking about reversal trades.

First of all, we need that good, strong prior uptrend. If we have a reason for that to look like it's stalling, it could be an indecision candle such as a pin bar, hanging man, doji candle, where basically the price has gone up, formed a new high, and it's come back and it's closed near the low of the candle, or it's an indecision candle it's gone up, it's gone down and it's closed near it's open, something like that is giving us an early warning system, basically. It's saying after this big, strong bullish trend, all of a sudden, the next candle has given a clue that the market's gone up, reached a point and it's coming back, or it can't decide whether it wants to go up or down any further. That's our first indication.]]>https://theforextradingcoach.com/?p=14766Sun, 04 Sep 2022 10:55:24 +0000Andrew MitchemWhat Makes a Good Reversal Trade?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #471: What Makes a Good Reversal Trade? In this video: 00:24 – What do we look for when looking for a...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#471: What Makes a Good Reversal Trade?
In this video:
00:24 – What do we look for when looking for a reversal trade?
01:08 – Getting ready for a new trade
01:26 – What exactly are we looking for?
03:13 – Don’t forget to look at the price
05:00 – Bollinger bands give us more clues
06:45 – We trade Reversals and Continuation Patterns
08:30 – Blueberry Markets for MT4 and MT5
09:13 – Look at my 5 Star Rated Forex Coaching Program

What clues do we look for to suggest that a trend is about to reverse? Let's talk about that and more right now.

Hey there, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 471.

What do we look for when looking for a reversal trade?

Want to talk about reversals today and what constitutes a good reversal, what do we look for to suggest that a reversal is about to take place.

You can use this in many different ways. You could use this, let's say, you were in a buy trade and the market's moving up beautifully. It hasn't quite got to your profit target, let's say, and you might see some form of indication that the market is about to reverse against your long or your buy position. That's something that could help you to suggest to either get out of the trade altogether early, or maybe partially close from trade, or maybe move to stop loss. But there's clues there that I'm going to talk about that can help protect that trade if you are already in a trade.

Getting ready for a new trade

If you're not already in a trade and you've seen the market moving up and you've missed that trend, but all of a sudden, you now see a few clues that I'm going to mention that will help you to take a short position against that uptrend, then that is also a very good trading opportunity.

What exactly are we looking for?

What is it that we're looking for? To start with, to make things easy, I'm going to be talking about a current uptrend and then a bearish reversal.

If we're looking for a bearish reversal for me, I look at candle patterns and I'm looking for outside or engulfing candles. But I don't just look at every single engulfing or outside candle go there as a sell trade. Absolutely not. There's other things that we want to see.

If we're looking for a bearish reversal, first of all, we need to see there's been a good, strong prior uptrend first. The reason for that is not every uptrend can keep going obviously. Everything will stall and exhaust and then turn around. We're looking for that turnaround because this is talking about reversal trades.

First of all, we need that good, strong prior uptrend. If we have a reason for that to look like it's stalling, it could be an indecision candle such as a pin bar, hanging man, doji candle, where basically the price has gone up, formed a new high, and it's come back and it's closed near the low of the candle, or it's an indecision candle it's gone up, it's gone down and it's closed near it's open, something like that is giving us an early warning system, basically. It's saying after this big, strong bullish trend, all of a sudden, the next candle has given a clue that the market's gone up, reached a point and it's coming back, or it can't decide whether it wants to go up or down any further. That's our first indication.]]>586falsefullhttps://www.spreaker.com/episode/470-now-is-the-best-time-in-18-years-to-trade-the-forex-market--51055242
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#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]]>https://theforextradingcoach.com/?p=14758Sun, 28 Aug 2022 10:55:42 +0000Andrew MitchemNow is the BEST time in 18 years to trade the Forex market  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #470: Now is the BEST time in 18 years to trade the Forex market In this...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#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]]>275falsefullhttps://www.spreaker.com/episode/469-come-and-join-our-facebook-group--50984535
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click here to join my Facebook Group: Forex Insiders
#469: Come and Join our Facebook Group
In this video:
00:30 – Join my Facebook Group for a small monthly fee
01:12 – Content on the Facebook Group
02:30 – For less than a cup of coffee each day
03:23 – Take a look at Blueberry Markets
04:12 – Try us out on the Facebook Forex Insiders group

Would you, for a small fee of less than a cup of coffee per day, like to join my Forex Insiders Facebook group? If it sounds like something you're interested in, listen up, I've got some great news to share with you.

Join my Facebook Group for a small monthly fee

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 469. And you've heard it right, a lot of people come to me and say, "Andrew, look, I'd love to join your full coaching programme, but right now I cannot afford it. And I'd like to see if there's some way I can learn from you, but from a monthly fee instead."

And so, as a result of that, a little while ago, I put together a small Facebook group, and it is different to the full coaching course, without a doubt. It is not the full coaching course. I just want to be up front and let you know, it's nowhere near the level of the full coaching course, but for less than a cup of coffee price per day, it gives you an incredibly good course with a lot of valuable information.

Content on the Facebook Group

You see, there are around 30 videos on that Facebook group and they give you the breakdown of my strategy. Small videos, easy to follow, easy-to-learn videos. There are about 42 weekly video recordings right now, and each week going forward, I hold a live 30-minute webinar for the Facebook group. And on that session, we talk about trades that we've taken over the last week. We talk about different topics that people need help with. And we look at upcoming trades live in front of you.

And as mentioned, all the recordings get available or are available there for you to watch as well, plus every week going forward. On top of that, I also give you access to my daily chart trade suggestions and the strength and weakness analysis that I post each day on certain currencies, where I see as likely they're moving up or likely they're moving down, plus specific chart trades based off the daily charts for the reasons I'm taking the trade, plus the exact entry and exit levels.

Look, it's really a great option for you if you'd like to maybe just check us out, see what we're all about. You might have heard some fantastic things for us and you're not ready to jump onto the full course, but this gives you that stepping stone for a small fee.

For less than a cup of coffee each day

Look, the fee is $47 for the first month, US, and then $97 a month going forward from there. When you think about that, it gives you everyday daily trading suggestions. It gives you the strength and weakness analysis. It gives you a live webinar each week, all the previous webinars and lots of videos on the now and going forward. So tonnes and tonnes of really valuable information, plus you can ask questions via the Facebook side as well.]]>https://theforextradingcoach.com/?p=14748Sun, 21 Aug 2022 10:55:12 +0000Andrew MitchemCome and Join our Facebook Group  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click here to join my Facebook Group: Forex Insiders #469: Come and Join our Facebook Group In this...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click here to join my Facebook Group: Forex Insiders
#469: Come and Join our Facebook Group
In this video:
00:30 – Join my Facebook Group for a small monthly fee
01:12 – Content on the Facebook Group
02:30 – For less than a cup of coffee each day
03:23 – Take a look at Blueberry Markets
04:12 – Try us out on the Facebook Forex Insiders group

Would you, for a small fee of less than a cup of coffee per day, like to join my Forex Insiders Facebook group? If it sounds like something you're interested in, listen up, I've got some great news to share with you.

Join my Facebook Group for a small monthly fee

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 469. And you've heard it right, a lot of people come to me and say, "Andrew, look, I'd love to join your full coaching programme, but right now I cannot afford it. And I'd like to see if there's some way I can learn from you, but from a monthly fee instead."

And so, as a result of that, a little while ago, I put together a small Facebook group, and it is different to the full coaching course, without a doubt. It is not the full coaching course. I just want to be up front and let you know, it's nowhere near the level of the full coaching course, but for less than a cup of coffee price per day, it gives you an incredibly good course with a lot of valuable information.

Content on the Facebook Group

You see, there are around 30 videos on that Facebook group and they give you the breakdown of my strategy. Small videos, easy to follow, easy-to-learn videos. There are about 42 weekly video recordings right now, and each week going forward, I hold a live 30-minute webinar for the Facebook group. And on that session, we talk about trades that we've taken over the last week. We talk about different topics that people need help with. And we look at upcoming trades live in front of you.

And as mentioned, all the recordings get available or are available there for you to watch as well, plus every week going forward. On top of that, I also give you access to my daily chart trade suggestions and the strength and weakness analysis that I post each day on certain currencies, where I see as likely they're moving up or likely they're moving down, plus specific chart trades based off the daily charts for the reasons I'm taking the trade, plus the exact entry and exit levels.

Look, it's really a great option for you if you'd like to maybe just check us out, see what we're all about. You might have heard some fantastic things for us and you're not ready to jump onto the full course, but this gives you that stepping stone for a small fee.

For less than a cup of coffee each day

Look, the fee is $47 for the first month, US, and then $97 a month going forward from there. When you think about that, it gives you everyday daily trading suggestions. It gives you the strength and weakness analysis. It gives you a live webinar each week, all the previous webinars and lots of videos on the now and going forward. So tonnes and tonnes of really valuable information, plus you can ask questions via the Facebook side as well.]]>275falsefullhttps://www.spreaker.com/episode/468-the-5-biggest-mistakes-most-traders-make--50910832
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click here to watch more of my Weekly Video and Podcast.
#468: The 5 Biggest Mistakes Most Traders Make
In this video:
00:32 – Stop making these mistakes
00:48 – #1 Most traders lack a trading strategy
01:39 – #2 Lack of understanding about correct money management
02:45 – #3 You need high reward:risk trades
03:45 – #4 Knowing when to trade
04:33 – #5 What is the price?

05:39 – Blueberry Markets

06:20 – Contact me for future video topics

I'm going to cover the five biggest mistakes that I see most traders out there making and help you so that you can stop making those same mistakes and turn yourself into a profitable forex trader. Let's talk about that and more right now.

Stop making these mistakes

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 468. I want to give you five really important points today and they are the five points that I see that most traders out there are making with the aim to help you not make those mistakes and therefore to improve your trading.

#1 Most traders lack a trading strategy

So, first thing I see, and these are really in no particular order is people don't seem to have a strategy. They don't know what it is that they're looking for and therefore they're just kind of trading on a bit of a hunch. They have heard something on the news, or they're just randomly taking buys here and sells there or this indicator might cross over that one, but they don't really know what they're doing.

So I think a lack of a clear strategy is one of the biggest failings of most people out there. And to me, a good strategy means that you have full confidence in it. You know exactly what you're doing when you're doing it. And it will work equally as well across all different timeframe charts, all different markets, all different times of years, et cetera. So you need a good solid trading strategy. That's the first thing that most people are failing on.

#2 Lack of understanding about correct money management

The second thing is that most people really do not have any idea when it comes to correct money management and people will just place a trade. I think MT4 or MT5 is defaulted to one standard lot. So they just press buy or sell one lot or 0.1 lots or 0.01 lots. They don't really know about money management and how to correctly position your trade size. And the reason that people don't know that is they don't know where they're putting their stop loss or anything like that in order to calculate that people don't know that different currency pairs make or pay different amounts per pip, depending on what your account denomination is so whether it's in US dollars or euros or New Zealand dollars or Canadian dollars, things like that. And if you're trading the Euro-US with a US bank account, as opposed to the Euro-US with a New Zealand bank account, you'll get paid different amounts per pip. So people don't understand that and they just put random lot sizes on and not calculate that properly. The issue therefore is they don't have controlled risk on their trades.

#3 You need high reward:risk trades]]>https://theforextradingcoach.com/?p=14735Sun, 14 Aug 2022 10:55:10 +0000Andrew MitchemThe 5 Biggest Mistakes Most Traders Make  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click here to watch more of my Weekly Video and Podcast. #468: The 5 Biggest Mistakes Most...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click here to watch more of my Weekly Video and Podcast.
#468: The 5 Biggest Mistakes Most Traders Make
In this video:
00:32 – Stop making these mistakes
00:48 – #1 Most traders lack a trading strategy
01:39 – #2 Lack of understanding about correct money management
02:45 – #3 You need high reward:risk trades
03:45 – #4 Knowing when to trade
04:33 – #5 What is the price?

05:39 – Blueberry Markets

06:20 – Contact me for future video topics

I'm going to cover the five biggest mistakes that I see most traders out there making and help you so that you can stop making those same mistakes and turn yourself into a profitable forex trader. Let's talk about that and more right now.

Stop making these mistakes

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 468. I want to give you five really important points today and they are the five points that I see that most traders out there are making with the aim to help you not make those mistakes and therefore to improve your trading.

#1 Most traders lack a trading strategy

So, first thing I see, and these are really in no particular order is people don't seem to have a strategy. They don't know what it is that they're looking for and therefore they're just kind of trading on a bit of a hunch. They have heard something on the news, or they're just randomly taking buys here and sells there or this indicator might cross over that one, but they don't really know what they're doing.

So I think a lack of a clear strategy is one of the biggest failings of most people out there. And to me, a good strategy means that you have full confidence in it. You know exactly what you're doing when you're doing it. And it will work equally as well across all different timeframe charts, all different markets, all different times of years, et cetera. So you need a good solid trading strategy. That's the first thing that most people are failing on.

#2 Lack of understanding about correct money management

The second thing is that most people really do not have any idea when it comes to correct money management and people will just place a trade. I think MT4 or MT5 is defaulted to one standard lot. So they just press buy or sell one lot or 0.1 lots or 0.01 lots. They don't really know about money management and how to correctly position your trade size. And the reason that people don't know that is they don't know where they're putting their stop loss or anything like that in order to calculate that people don't know that different currency pairs make or pay different amounts per pip, depending on what your account denomination is so whether it's in US dollars or euros or New Zealand dollars or Canadian dollars, things like that. And if you're trading the Euro-US with a US bank account, as opposed to the Euro-US with a New Zealand bank account, you'll get paid different amounts per pip. So people don't understand that and they just put random lot sizes on and not calculate that properly. The issue therefore is they don't have controlled risk on their trades.

#3 You need high reward:risk trades]]>424falsefullhttps://www.spreaker.com/episode/467-the-trend-is-your-friend-how-to-profit-from-it--50840898
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click here to watch more of my Weekly Video and Podcast.
#467: The Trend Is Your Friend & How to Profit from it
In this video:
00:26 – Trading the trend
01:15 – Why did I take this trade on Silver?
02:57 – Can you trade reversals?
03:45 – One of the best FX brokers is Blueberry Markets
04:57 – Ask me questions
05:25 – Follow my free daily strength & weakness analysis

The trend really is your friend, so how do you profit from it? Let's talk about that and more right now.

Hey there, traders. This is Andrew Mitchem here at The Forex Trading Coach with weekly video and podcast number 467.

Trading the trend

You've all heard the phrase, "the trend is your friend." It certainly is. But how do you trade the trend? How do you make it your friend? How do you profit from it? That's the most important thing, isn't it? So I want to give you some actual live examples.

I was just putting everything together to make this video for this week, and right behind me on our forum site someone about 10 minutes ago at the top of the hour wrote and said, "There's a great looking sell trade on silver on the one hour chart. XAGUSD on the one hour chart." Went and had a look at my charts, go absolutely this is an amazing trade, taking it. It's over my shoulder here, it's dropping right now and it's in profit already and I only put the trade on a few minutes ago.

Why did I take this trade on Silver?

Why did I take the trade? Well, as I mentioned the trend is your friend and it really is. So for this week I'm looking at shorts on silver against the US dollar. For today, I actually wrote a specific trade on the daily chart selling silver. When we also looked at the 12 hour charts, we had a fantastic setup. Guess what? Selling silver. Now, right now just a few minutes ago, there is a sell trade on the one hour chart on, you guessed it, on silver. So I'm trading with the trend.

Now if you look at the one hour chart for the last number of hours, it's actually pulled back upwards. So there's been quite a little bit of bullish momentum. But where did it stall? It stalled exactly at the $20.00 level, a massive, massive round number for silver. It stalled there, right on 20. It's had indecision on the previous one hour candle, and the one hour candle that's just closed just a few minutes ago, right behind me right now live, it has formed a strong bearish candle. We've had hidden negative divergence from off the middle Bollinger band below the pivot point, all things that we look for as well. Trend line breaks. Everything is on that trade right now.

But more importantly... I suppose, just as importantly, we have the setup on the one hour candle, but we have the short position there. We already have a short on the 12 hour and the daily. So in other words, we are trading with the trend.

Can you trade reversals?

Yes, you can take reversal trades and yes they look really quite cool and really quite dramatic on your charts. Yes, you can show a massive, massive down trend and you're taking a buy trade against it, and yes they can work. But would you much rather take a continuation trade when you have ev...]]>https://theforextradingcoach.com/?p=14727Sun, 07 Aug 2022 10:55:42 +0000Andrew MitchemThe Trend Is Your Friend & How to Profit from it  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click here to watch more of my Weekly Video and Podcast. #467: The Trend Is Your Friend...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click here to watch more of my Weekly Video and Podcast.
#467: The Trend Is Your Friend & How to Profit from it
In this video:
00:26 – Trading the trend
01:15 – Why did I take this trade on Silver?
02:57 – Can you trade reversals?
03:45 – One of the best FX brokers is Blueberry Markets
04:57 – Ask me questions
05:25 – Follow my free daily strength & weakness analysis

The trend really is your friend, so how do you profit from it? Let's talk about that and more right now.

Hey there, traders. This is Andrew Mitchem here at The Forex Trading Coach with weekly video and podcast number 467.

Trading the trend

You've all heard the phrase, "the trend is your friend." It certainly is. But how do you trade the trend? How do you make it your friend? How do you profit from it? That's the most important thing, isn't it? So I want to give you some actual live examples.

I was just putting everything together to make this video for this week, and right behind me on our forum site someone about 10 minutes ago at the top of the hour wrote and said, "There's a great looking sell trade on silver on the one hour chart. XAGUSD on the one hour chart." Went and had a look at my charts, go absolutely this is an amazing trade, taking it. It's over my shoulder here, it's dropping right now and it's in profit already and I only put the trade on a few minutes ago.

Why did I take this trade on Silver?

Why did I take the trade? Well, as I mentioned the trend is your friend and it really is. So for this week I'm looking at shorts on silver against the US dollar. For today, I actually wrote a specific trade on the daily chart selling silver. When we also looked at the 12 hour charts, we had a fantastic setup. Guess what? Selling silver. Now, right now just a few minutes ago, there is a sell trade on the one hour chart on, you guessed it, on silver. So I'm trading with the trend.

Now if you look at the one hour chart for the last number of hours, it's actually pulled back upwards. So there's been quite a little bit of bullish momentum. But where did it stall? It stalled exactly at the $20.00 level, a massive, massive round number for silver. It stalled there, right on 20. It's had indecision on the previous one hour candle, and the one hour candle that's just closed just a few minutes ago, right behind me right now live, it has formed a strong bearish candle. We've had hidden negative divergence from off the middle Bollinger band below the pivot point, all things that we look for as well. Trend line breaks. Everything is on that trade right now.

But more importantly... I suppose, just as importantly, we have the setup on the one hour candle, but we have the short position there. We already have a short on the 12 hour and the daily. So in other words, we are trading with the trend.

Can you trade reversals?

Yes, you can take reversal trades and yes they look really quite cool and really quite dramatic on your charts. Yes, you can show a massive, massive down trend and you're taking a buy trade against it, and yes they can work. But would you much rather take a continuation trade when you have ev...]]>349falsefullhttps://www.spreaker.com/episode/466-is-the-tftc-program-suitable-for-new-traders--50763227
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#465: Is the TFTC Program suitable for New Traders?
In this video:
00:26 – Is the TFTC Course suitable for new traders?
01:36 – Being new is a good thing
02:32 – More experienced traders are harder to un-teach
03:06 – You’ll spend so much wasted time learning by yourself
04:13 – Invest in yourself at the beginning
05:55 – 5 trades taken on our live weekly webinar
07:10 – Take a look at Blueberry Markets
08:37 – Give yourself the best shot at making trading work for you

Would our forest coaching programme be suitable for you if you are brand new to trading and you've never traded before, let's get into that more right now.

Hey traders. It is Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 466.

Is the TFTC Course suitable for new traders?

Now I've been asked recently by quite a number of people by email and in person here in Nelson about learning how to trade, and a concern that so many people have is that they're brand new to trading. They know nothing about it, and they want to know how to take the next step. But there's so much going on in their mind, like where do you trade through? Who do you put your money with? Is it us? Is it with someone else? How safe are those funds? How do you play to trade? What is it that you're actually doing? Is it like stocks and shares? Am I buying crypto?

All these different things that people have going on in their mind, and it becomes like information overload. And it's like anything new, you need to find a source where someone can hand hold you and take you through the suggested steps to make that process easier for you. And it is quite a straightforward, easy process. It's just that if you don't know where to start, it all becomes a little bit too much and you have too many questions. So therefore, it becomes too hard, so you don't do it.

Being new is a good thing

Now, absolutely if you are brand new, you've never traded, but you've heard about trading. We can definitely help you 100%. Absolutely. We are the right place for you to come to, because we can take you through that step-by-step process. We can suggest some brokers to you, show you how to start on a demo account. What type of platform to look for, how to place your trades, let you know about what it is you're actually doing. What markets are you trading, what's the actual process, why are you buying or selling currency pairs together? You know, what is it that you're doing.

And all that is before you actually start the strategy and the understanding, which is the main part of what we teach. But in my opinion, I think that if you are brand new to trading, you've never really traded before. You might have had a bit of a play on a demo possibly, I think you're actually in the best position to make this work for you.

More experienced traders are harder to un-teach

Now, sure, it may take a little bit longer, like anything new but if you come to us and you've been trading for quite a while and you keep jumping system to system and you're on this forum and that forum, and then this EA and then this indicator, those type of people become harder to teach because they've got so many bad preconceived ideas from other strategies and other systems. Whereas if you are new, you don't really know anything.]]>https://theforextradingcoach.com/?p=14718Sun, 31 Jul 2022 10:55:38 +0000Andrew MitchemIs the TFTC Program suitable for New Traders?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #465: Is the TFTC Program suitable for New Traders? In this video: 00:26 – Is the TFTC...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#465: Is the TFTC Program suitable for New Traders?
In this video:
00:26 – Is the TFTC Course suitable for new traders?
01:36 – Being new is a good thing
02:32 – More experienced traders are harder to un-teach
03:06 – You’ll spend so much wasted time learning by yourself
04:13 – Invest in yourself at the beginning
05:55 – 5 trades taken on our live weekly webinar
07:10 – Take a look at Blueberry Markets
08:37 – Give yourself the best shot at making trading work for you

Would our forest coaching programme be suitable for you if you are brand new to trading and you've never traded before, let's get into that more right now.

Hey traders. It is Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 466.

Is the TFTC Course suitable for new traders?

Now I've been asked recently by quite a number of people by email and in person here in Nelson about learning how to trade, and a concern that so many people have is that they're brand new to trading. They know nothing about it, and they want to know how to take the next step. But there's so much going on in their mind, like where do you trade through? Who do you put your money with? Is it us? Is it with someone else? How safe are those funds? How do you play to trade? What is it that you're actually doing? Is it like stocks and shares? Am I buying crypto?

All these different things that people have going on in their mind, and it becomes like information overload. And it's like anything new, you need to find a source where someone can hand hold you and take you through the suggested steps to make that process easier for you. And it is quite a straightforward, easy process. It's just that if you don't know where to start, it all becomes a little bit too much and you have too many questions. So therefore, it becomes too hard, so you don't do it.

Being new is a good thing

Now, absolutely if you are brand new, you've never traded, but you've heard about trading. We can definitely help you 100%. Absolutely. We are the right place for you to come to, because we can take you through that step-by-step process. We can suggest some brokers to you, show you how to start on a demo account. What type of platform to look for, how to place your trades, let you know about what it is you're actually doing. What markets are you trading, what's the actual process, why are you buying or selling currency pairs together? You know, what is it that you're doing.

And all that is before you actually start the strategy and the understanding, which is the main part of what we teach. But in my opinion, I think that if you are brand new to trading, you've never really traded before. You might have had a bit of a play on a demo possibly, I think you're actually in the best position to make this work for you.

More experienced traders are harder to un-teach

Now, sure, it may take a little bit longer, like anything new but if you come to us and you've been trading for quite a while and you keep jumping system to system and you're on this forum and that forum, and then this EA and then this indicator, those type of people become harder to teach because they've got so many bad preconceived ideas from other strategies and other systems. Whereas if you are new, you don't really know anything.]]>545falsefullhttps://www.spreaker.com/episode/465-can-you-travel-and-trade--50694376
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Checkout my 30 Minute Trader Trip in 2019
#465: Can You Travel and Trade?
In this video:
00:28 – Trading and travelling
01:25 – The World is slowly opening up again
01:57 – 30 Minute Trader Trip in 2019 https://theforextradingcoach.com/the-30-minute-forex-trader-updates.html 
03:21 – I’m travelling and trading this week
04:32 – My strategy works
05:07 – Have a look at Blueberry Markets
06:12 – Get trading and travelling again

Can you travel and trade at the same time? If you can, if your system allows you to do that, then you have yourself a fantastic strategy. Let's talk about that more right now.

Hey traders, it's Andrew Mitchem here, the Owner of the Forex Trading Coach with the video and podcast number 465.

Trading and travelling

Now trading and travelling is something that if you look online, you see these images or these red flashy sports cars, and people sitting there with a laptop. And you see images of this lovely lady sitting on the beach with her charts open on her laptop. Can it be done? Well yes, but I mean you're going to get sand in your laptop if nothing else.

So, the image that people portray of the flashy lifestyle, I would prefer to be more realistic about things. And the point of this video and podcast is to let you know that if you have a strategy that does not take too much time up of your day, out of your day, you can trade and travel. And look, there's nothing better than being able to be travelling and doing things that you want to do and enjoy travelling. And at the same time, making money through your trading.

The World is slowly opening up again

Now, as the world's slowly starting to open up, well it's slowly over here in New Zealand. Sounds like the rest of you and the rest of the world are carrying on with things pretty much as per normal. So, well done you. But as things are starting to get back to some form of normality in terms of travelling and people going on holiday and vacation, the ability to do that, take your laptop with you, and to look at your charts once, twice a day, and to make money trading whilst travelling is such an appealing part of being a Forex Trader.

30 Minute Trader Trip in 2019 https://theforextradingcoach.com/the-30-minute-forex-trader-updates.html 

Now back in 2019, if you're following me back then you would've seen the videos. If you're not, I actually still have the link on the homepage of my website and I'll put a link under this video and podcast, so you can go and watch it again. But back then in 2019, I went over to France and to England with my family. And in the four weeks from leaving New Zealand to coming back, I recorded a series of videos of the trades that we took on just the daily and the weekly charts. All of the trades were posted from our website. So, you can go back and watch the videos of me with the trades in real time, taking them, seeing them on the membership side, et cetera. And as a result of being away and trading between 10 and maximum 30 minutes each day and of course, that's travelling to New Zealand on a 26 hour flight each way as well.

But as a result of that four weeks of trading and travelling, we made a 12.]]>https://theforextradingcoach.com/?p=14706Sun, 24 Jul 2022 10:55:39 +0000Andrew MitchemCan You Travel and Trade?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click Here to Checkout my 30 Minute Trader Trip in 2019 #465: Can You Travel and Trade? In this video: 00:28 –...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Checkout my 30 Minute Trader Trip in 2019
#465: Can You Travel and Trade?
In this video:
00:28 – Trading and travelling
01:25 – The World is slowly opening up again
01:57 – 30 Minute Trader Trip in 2019 https://theforextradingcoach.com/the-30-minute-forex-trader-updates.html 
03:21 – I’m travelling and trading this week
04:32 – My strategy works
05:07 – Have a look at Blueberry Markets
06:12 – Get trading and travelling again

Can you travel and trade at the same time? If you can, if your system allows you to do that, then you have yourself a fantastic strategy. Let's talk about that more right now.

Hey traders, it's Andrew Mitchem here, the Owner of the Forex Trading Coach with the video and podcast number 465.

Trading and travelling

Now trading and travelling is something that if you look online, you see these images or these red flashy sports cars, and people sitting there with a laptop. And you see images of this lovely lady sitting on the beach with her charts open on her laptop. Can it be done? Well yes, but I mean you're going to get sand in your laptop if nothing else.

So, the image that people portray of the flashy lifestyle, I would prefer to be more realistic about things. And the point of this video and podcast is to let you know that if you have a strategy that does not take too much time up of your day, out of your day, you can trade and travel. And look, there's nothing better than being able to be travelling and doing things that you want to do and enjoy travelling. And at the same time, making money through your trading.

The World is slowly opening up again

Now, as the world's slowly starting to open up, well it's slowly over here in New Zealand. Sounds like the rest of you and the rest of the world are carrying on with things pretty much as per normal. So, well done you. But as things are starting to get back to some form of normality in terms of travelling and people going on holiday and vacation, the ability to do that, take your laptop with you, and to look at your charts once, twice a day, and to make money trading whilst travelling is such an appealing part of being a Forex Trader.

30 Minute Trader Trip in 2019 https://theforextradingcoach.com/the-30-minute-forex-trader-updates.html 

Now back in 2019, if you're following me back then you would've seen the videos. If you're not, I actually still have the link on the homepage of my website and I'll put a link under this video and podcast, so you can go and watch it again. But back then in 2019, I went over to France and to England with my family. And in the four weeks from leaving New Zealand to coming back, I recorded a series of videos of the trades that we took on just the daily and the weekly charts. All of the trades were posted from our website. So, you can go back and watch the videos of me with the trades in real time, taking them, seeing them on the membership side, et cetera. And as a result of being away and trading between 10 and maximum 30 minutes each day and of course, that's travelling to New Zealand on a 26 hour flight each way as well.

But as a result of that four weeks of trading and travelling, we made a 12.]]>398falsefullhttps://www.spreaker.com/episode/464-how-much-time-do-you-spend-trading-each-day--50602109
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#464: How Much Time Do You Spend Trading Each Day?
In this video:
00:25 – Results from my survey
01:31 – 2 easy fixes
03:18 – My first client trades MN1 and W1 charts
04:01 – I publish D1 chart trades every day
04:55 – Take a look at Blueberry Markets

How much time do you spend each day looking at your charts? I bet it's too much. Let's see how we can help you reduce that right now.

Hi, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 464.

Results from my survey

Now, earlier this week, I sent out a survey to people on my list and I asked them what their biggest issue is in trading right now. And a lot of people came back with the answers that you would expect, with lack of strategy, not understanding money management, too many indicators, not knowing which way to trade, stop losses, all those type of things, but a point that came out, which was really, really quite common and quite scary in some ways, is that so many of you are spending so much time looking at your charts, glued to your computer screen, thinking that that's the right way to trade. And pretty much everybody who wrote back who is, they're not clients, by the way, these are just non-clients, but pretty much everybody that wrote back is either making a little bit, breaking even, and the vast majority losing. And there was quite a common theme between people just not making money, but spending way too much time trying to lose money. Not a good combination.

2 easy fixes

So two easy fixes that I have for you, which will absolutely change your trading around. Number one, look at the longer timeframe charts, without a doubt. Most people were saying, "Look, I'm scalping, and I want to scalp, and I want to take lots of trades, and take five-minute and 15-minute chart trades." Just do not do that. Start on the longer timeframe charts. If you are struggling to trade, I'd suggest you wouldn't do anything shorter than a four-hour chart. But look at the longer timeframe charts, at least look at the dailies once a day. That would be my first pick. Get longer timeframe charts, less chart time, more quality, less trades.

And the second thing is only look at your charts at the close of a candle. So you don't need to be sitting there, watching every pip move up and down, worrying about a five-minute candle or a one-minute candle, stressing that it's now green, now it's red, and, "Oh my goodness, what am I going to do?" Don't do that. Get on the longer timeframe charts, look at the close of a candle. If you are trading four-hour charts, you know when to look at your charts, you know when the market opens, you know when the four-hour chart closes because it's four hours after it opens. It's not difficult. And that blows me away, when people go, "Well, when do the four-hour charts change?" Well, look at when it opens, and four hours means it's going to close four hours after that time. Again, it's not difficult. People here who want to be currency traders in a professional business, but cannot work out a simple thing like when a candle opens and closes, you got to do your research, guys. And you've got to understand these simple, simple, basic things to get somewhere in your trading. So longer timeframe charts, look at the close of a candle. That will fix a lot of your issues.]]>https://theforextradingcoach.com/?p=14697Sun, 17 Jul 2022 10:55:40 +0000Andrew MitchemHow Much Time Do You Spend Trading Each Day?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #464: How Much Time Do You Spend Trading Each Day? In this video: 00:25 – Results from my...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#464: How Much Time Do You Spend Trading Each Day?
In this video:
00:25 – Results from my survey
01:31 – 2 easy fixes
03:18 – My first client trades MN1 and W1 charts
04:01 – I publish D1 chart trades every day
04:55 – Take a look at Blueberry Markets

How much time do you spend each day looking at your charts? I bet it's too much. Let's see how we can help you reduce that right now.

Hi, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 464.

Results from my survey

Now, earlier this week, I sent out a survey to people on my list and I asked them what their biggest issue is in trading right now. And a lot of people came back with the answers that you would expect, with lack of strategy, not understanding money management, too many indicators, not knowing which way to trade, stop losses, all those type of things, but a point that came out, which was really, really quite common and quite scary in some ways, is that so many of you are spending so much time looking at your charts, glued to your computer screen, thinking that that's the right way to trade. And pretty much everybody who wrote back who is, they're not clients, by the way, these are just non-clients, but pretty much everybody that wrote back is either making a little bit, breaking even, and the vast majority losing. And there was quite a common theme between people just not making money, but spending way too much time trying to lose money. Not a good combination.

2 easy fixes

So two easy fixes that I have for you, which will absolutely change your trading around. Number one, look at the longer timeframe charts, without a doubt. Most people were saying, "Look, I'm scalping, and I want to scalp, and I want to take lots of trades, and take five-minute and 15-minute chart trades." Just do not do that. Start on the longer timeframe charts. If you are struggling to trade, I'd suggest you wouldn't do anything shorter than a four-hour chart. But look at the longer timeframe charts, at least look at the dailies once a day. That would be my first pick. Get longer timeframe charts, less chart time, more quality, less trades.

And the second thing is only look at your charts at the close of a candle. So you don't need to be sitting there, watching every pip move up and down, worrying about a five-minute candle or a one-minute candle, stressing that it's now green, now it's red, and, "Oh my goodness, what am I going to do?" Don't do that. Get on the longer timeframe charts, look at the close of a candle. If you are trading four-hour charts, you know when to look at your charts, you know when the market opens, you know when the four-hour chart closes because it's four hours after it opens. It's not difficult. And that blows me away, when people go, "Well, when do the four-hour charts change?" Well, look at when it opens, and four hours means it's going to close four hours after that time. Again, it's not difficult. People here who want to be currency traders in a professional business, but cannot work out a simple thing like when a candle opens and closes, you got to do your research, guys. And you've got to understand these simple, simple, basic things to get somewhere in your trading. So longer timeframe charts, look at the close of a candle. That will fix a lot of your issues.]]>379falsefullhttps://www.spreaker.com/episode/463-the-advantage-of-trading-with-limit-orders--50527734
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#463: The Advantage of Trading with Limit Orders
In this video:
00:27 – I love trading with Limit Orders
01:01 – They help to remove the emotion from my trading
02:48 – Examples of why I use Limit Orders
04:39 – Have a look at Blueberry Markets
05:39 – Start using Limit Orders for high Reward:Risk trades

As a trader, what are the advantages of using limit orders, and why do I use them so much in my trading? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at the First Trading Coach with video and podcast number 463.

I love trading with Limit Orders

Now I make no secret about it. I love using limit orders. I've used them for years and years. Been trading for 18 years, and probably around the last 15 years, ever since I discovered the power of using limit orders and how to use them properly within our strategy, they have made a massive, massive difference to my trading results. One of the reasons why I like using them is because you will pretty much always get a higher reward to risk than you would by entering, let's say, at the market or a stop order. And I'll explain with some examples shortly.

They help to remove the emotion from my trading

But I also like them because it helps take the emotion out of my trading, because I trade on the close of a candle. If I'm not there at exactly the close, it doesn't matter, because on my trades, I'm looking for, let's say, on a buy trade, I'm using a buy limit. So that means I'm buying when the price first drops. So if I'm not there, panicking and stressing about taking a market order and working out my correct position size and where my stop loss needs to be, and oh no, the market's moved up, and I've missed out. I don't do any of that because I see the setup, and then I can quite easily analyse where my entry using my buy limit needs to be, and my stop, my profit, work out the stop loss size, work out my position size, and it all takes literally... I use a script that does it all for me. But you can even manually do that in about 30 seconds.

And then you're taking the trade based on a sound decision rather than an emotional reaction. I've got to get in. I've got to get in. So a lot of advantages there in terms of the actual practicality of your trading, but also the results, because your reward to risk will be so much better. Now, if you're taking a buy limit and the price does not fill that limit and it just takes off in your anticipated direction, but without first filling the trade, that's fine. You just miss the trade. You don't gain anything, but you also don't lose anything out of the trade.

And of course you can split your position like I do on my daily charts and my weekly monthly charts by taking part of my order at the market and part of it retracement. If I'm trading shorter timeframe charts, like 12 hours down to two hours, I take only limit orders because the amount that the price needs to move to get back to a limit order and fill it is less. So I love limit orders.

Examples of why I use Limit Orders

Now, as an example, if you took a market order trade with a 100 pip profit target and a 60 pip stop loss, that gives you a 1.6-to-one reward-to-risk trade. It's an okay trade, and it's going to give you a pretty good, reasonable reward to risk. Not massive, but okay.]]>https://theforextradingcoach.com/?p=14689Sun, 10 Jul 2022 10:55:59 +0000Andrew MitchemThe Advantage of Trading with Limit Orders  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #463: The Advantage of Trading with Limit Orders In this video: 00:27 – I love trading with...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#463: The Advantage of Trading with Limit Orders
In this video:
00:27 – I love trading with Limit Orders
01:01 – They help to remove the emotion from my trading
02:48 – Examples of why I use Limit Orders
04:39 – Have a look at Blueberry Markets
05:39 – Start using Limit Orders for high Reward:Risk trades

As a trader, what are the advantages of using limit orders, and why do I use them so much in my trading? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at the First Trading Coach with video and podcast number 463.

I love trading with Limit Orders

Now I make no secret about it. I love using limit orders. I've used them for years and years. Been trading for 18 years, and probably around the last 15 years, ever since I discovered the power of using limit orders and how to use them properly within our strategy, they have made a massive, massive difference to my trading results. One of the reasons why I like using them is because you will pretty much always get a higher reward to risk than you would by entering, let's say, at the market or a stop order. And I'll explain with some examples shortly.

They help to remove the emotion from my trading

But I also like them because it helps take the emotion out of my trading, because I trade on the close of a candle. If I'm not there at exactly the close, it doesn't matter, because on my trades, I'm looking for, let's say, on a buy trade, I'm using a buy limit. So that means I'm buying when the price first drops. So if I'm not there, panicking and stressing about taking a market order and working out my correct position size and where my stop loss needs to be, and oh no, the market's moved up, and I've missed out. I don't do any of that because I see the setup, and then I can quite easily analyse where my entry using my buy limit needs to be, and my stop, my profit, work out the stop loss size, work out my position size, and it all takes literally... I use a script that does it all for me. But you can even manually do that in about 30 seconds.

And then you're taking the trade based on a sound decision rather than an emotional reaction. I've got to get in. I've got to get in. So a lot of advantages there in terms of the actual practicality of your trading, but also the results, because your reward to risk will be so much better. Now, if you're taking a buy limit and the price does not fill that limit and it just takes off in your anticipated direction, but without first filling the trade, that's fine. You just miss the trade. You don't gain anything, but you also don't lose anything out of the trade.

And of course you can split your position like I do on my daily charts and my weekly monthly charts by taking part of my order at the market and part of it retracement. If I'm trading shorter timeframe charts, like 12 hours down to two hours, I take only limit orders because the amount that the price needs to move to get back to a limit order and fill it is less. So I love limit orders.

Examples of why I use Limit Orders

Now, as an example, if you took a market order trade with a 100 pip profit target and a 60 pip stop loss, that gives you a 1.6-to-one reward-to-risk trade. It's an okay trade, and it's going to give you a pretty good, reasonable reward to risk. Not massive, but okay.]]>375falsefullhttps://www.spreaker.com/episode/462-can-you-make-automated-forex-trading-really-work--50449902
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Find out more about my TFTC Pattern Trader
#462: Can You Make Automated Forex Trading Really Work?
In this video:
00:28 – The advantages of automated trading
01:31 – We created and launched TFTC Pattern Trader in 2020
02:31 – We’ve automated my manual trading strategy
03:03 – Live account up +6.8% this week
03:35 – How it works
05:55 – Check out Blueberry Markets
06:45 – Please like and subscribe & email me your questions

Can you make automated Forex trading really work? It's something that people have struggled with for years. Let's talk about that and more, right now.

Hey there, traders. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 462.

The advantages of automated trading

Automated trading. It's something that people have been looking to do properly for years and years. It's something that has so much appeal because you can basically set it up, leave it, set and forget. It trades for you, five days a week, 24 hours a day. Just does everything. It sticks to the rules. It's perfect. But as you probably know, if you've been trading for any length of time, and if you've tried automated trading, or if you purchased EAs or expert advisors, any type of robot system, you'll probably know that it doesn't work and that it has failed. And I've personally had so many attempts and trials and goes at making automated trading work over the years, and right through from TradeStation, probably about 15 years ago, through to getting people to write code for me, through to buying those bits of software that you can create your own expert advisors, and it spits out the code for you. Tried everything and none of it works.

We created and launched TFTC Pattern Trader in 2020

And so that's why, about two years ago, we launched our own automated trading software, which does work. And we have overcome all of those issues that people have traditionally had issues with and problems with. And we are very conscious of the fact that the people have so many indicators and they over-optimise things and they make it look absolutely awesome in hindsight. And as soon as the day you put it live, it just fails. It goes downhill like a lead balloon. It takes your account out and it's just a waste of money and time. So we're very conscious of that when we started developing our software. It's called TFTC Pattern Trader the TFTC, of course, for The Forex Trading Coach Pattern Trader. So have a look online, tftcpatterntrader.com.

I'll put a link to it below on this post, so you can go and find it and have a look. By the way, there's a free 10 day trial to the most basic version. You don't get to trial the full thing, but there's videos showing you what that does include.

We’ve automated my manual trading strategy

Now, one other things we did is we took my manual trading strategy and we tried to automate it as best that we can. And you're never going to have everything exactly perfect because the human eye and the brain can figure out a lot of things that you cannot programme. But likewise, there are so many advantages of it, such as,]]>https://theforextradingcoach.com/?p=14678Sun, 03 Jul 2022 10:55:55 +0000Andrew MitchemCan You Make Automated Forex Trading Really Work?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Find out more about my TFTC Pattern Trader #462: Can You Make Automated Forex Trading...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Find out more about my TFTC Pattern Trader
#462: Can You Make Automated Forex Trading Really Work?
In this video:
00:28 – The advantages of automated trading
01:31 – We created and launched TFTC Pattern Trader in 2020
02:31 – We’ve automated my manual trading strategy
03:03 – Live account up +6.8% this week
03:35 – How it works
05:55 – Check out Blueberry Markets
06:45 – Please like and subscribe & email me your questions

Can you make automated Forex trading really work? It's something that people have struggled with for years. Let's talk about that and more, right now.

Hey there, traders. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 462.

The advantages of automated trading

Automated trading. It's something that people have been looking to do properly for years and years. It's something that has so much appeal because you can basically set it up, leave it, set and forget. It trades for you, five days a week, 24 hours a day. Just does everything. It sticks to the rules. It's perfect. But as you probably know, if you've been trading for any length of time, and if you've tried automated trading, or if you purchased EAs or expert advisors, any type of robot system, you'll probably know that it doesn't work and that it has failed. And I've personally had so many attempts and trials and goes at making automated trading work over the years, and right through from TradeStation, probably about 15 years ago, through to getting people to write code for me, through to buying those bits of software that you can create your own expert advisors, and it spits out the code for you. Tried everything and none of it works.

We created and launched TFTC Pattern Trader in 2020

And so that's why, about two years ago, we launched our own automated trading software, which does work. And we have overcome all of those issues that people have traditionally had issues with and problems with. And we are very conscious of the fact that the people have so many indicators and they over-optimise things and they make it look absolutely awesome in hindsight. And as soon as the day you put it live, it just fails. It goes downhill like a lead balloon. It takes your account out and it's just a waste of money and time. So we're very conscious of that when we started developing our software. It's called TFTC Pattern Trader the TFTC, of course, for The Forex Trading Coach Pattern Trader. So have a look online, tftcpatterntrader.com.

I'll put a link to it below on this post, so you can go and find it and have a look. By the way, there's a free 10 day trial to the most basic version. You don't get to trial the full thing, but there's videos showing you what that does include.

We’ve automated my manual trading strategy

Now, one other things we did is we took my manual trading strategy and we tried to automate it as best that we can. And you're never going to have everything exactly perfect because the human eye and the brain can figure out a lot of things that you cannot programme. But likewise, there are so many advantages of it, such as,]]>436falsefullhttps://www.spreaker.com/episode/461-protecting-your-future-from-what-s-coming--50367748
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#461: Protecting Your Future from What’s Coming
In this video:
00:24 – You and your future
00:52 – Governments don’t really care
01:29 – Record inflation globally
02:27 – Tough for small businesses
03:47 – What can you do to future proof yourself
04:50 – Cryptos are getting smashed
05:08 – Get onto one of my webinars

It's time to start thinking about protecting yourself and protecting your future. Let's talk about that more right now.

Hey, traders. It's Andrew Mitchem, here at the Forex Trading Coach with video and podcast number 461.

You and your future

I want to talk about you, your future, what you're going to do about it to protect yourself and your family. You see, there's a lot of scary things happening in the world right now. Depends what you believe. It depends if you believe that all these long-term agendas are real or not, and how it may or may not affect you. I'm going to leave that up to you to decide. I've got my personal opinions on that.

Governments don’t really care

And it's out there for everybody to do their own research, but what's for sure is that governments around the world don't really care about you. And I think that's quite a fair statement. The last two years around the world have shown that with enforcements, with mandates huge record expenditure, and that's coming through now, that will affect everybody regardless if your beliefs, politically, or medically, or what you think agendas are coming. Without any question, what's happening right now and going forward will affect everybody.

Record inflation globally

You see, we're getting record inflation around the world. Prices going up. Food prices going up. Shortages. If you've got a better land, start planting, start looking after yourself. Record fuel prices, shortages of those, shipping costs, electricity shortages, and costs, being forced to go certain ways if you drive vehicles. All these type of things are quite scary for the way that everyday life has been affected. You add onto that high interest rates and lightly only to get higher. So your costs are going up, your mortgages are going up. Any loans, debt that you have is getting more and more expensive. So you put all that together and you probably treading water all going backwards, and again, lightly to get worse.

Tough for small businesses

Small businesses, it's harder and harder for people to employ people with rules, regulations, increase, labour charges. Today in New Zealand, we have a public holiday today that's never been had today. It's the first time of this public holiday. Our government created it a couple years ago, and today it's a public holiday. It's estimated, from what I've seen and read, to cost the New Zealand economy $440 million today in businesses needing to pay staff time and a half, loss production, all those type of things. Well, if you are a worker, fantastic, you get yet another day off. But probably most people, through various things that have happened in the last year, have had so many days off anyway with coughs and sneezes and public holidays. But think of it from the business owner's point of view and the economy's point of view. Yet more costs, yet less production, yet more stress on the owner. And all of these things are accumulating. Like I said, if you are the worker,]]>https://theforextradingcoach.com/?p=14670Sun, 26 Jun 2022 10:55:40 +0000Andrew MitchemProtecting Your Future from What’s Coming  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #461: Protecting Your Future from What’s Coming In this video: 00:24 – You and your future 00:52...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#461: Protecting Your Future from What’s Coming
In this video:
00:24 – You and your future
00:52 – Governments don’t really care
01:29 – Record inflation globally
02:27 – Tough for small businesses
03:47 – What can you do to future proof yourself
04:50 – Cryptos are getting smashed
05:08 – Get onto one of my webinars

It's time to start thinking about protecting yourself and protecting your future. Let's talk about that more right now.

Hey, traders. It's Andrew Mitchem, here at the Forex Trading Coach with video and podcast number 461.

You and your future

I want to talk about you, your future, what you're going to do about it to protect yourself and your family. You see, there's a lot of scary things happening in the world right now. Depends what you believe. It depends if you believe that all these long-term agendas are real or not, and how it may or may not affect you. I'm going to leave that up to you to decide. I've got my personal opinions on that.

Governments don’t really care

And it's out there for everybody to do their own research, but what's for sure is that governments around the world don't really care about you. And I think that's quite a fair statement. The last two years around the world have shown that with enforcements, with mandates huge record expenditure, and that's coming through now, that will affect everybody regardless if your beliefs, politically, or medically, or what you think agendas are coming. Without any question, what's happening right now and going forward will affect everybody.

Record inflation globally

You see, we're getting record inflation around the world. Prices going up. Food prices going up. Shortages. If you've got a better land, start planting, start looking after yourself. Record fuel prices, shortages of those, shipping costs, electricity shortages, and costs, being forced to go certain ways if you drive vehicles. All these type of things are quite scary for the way that everyday life has been affected. You add onto that high interest rates and lightly only to get higher. So your costs are going up, your mortgages are going up. Any loans, debt that you have is getting more and more expensive. So you put all that together and you probably treading water all going backwards, and again, lightly to get worse.

Tough for small businesses

Small businesses, it's harder and harder for people to employ people with rules, regulations, increase, labour charges. Today in New Zealand, we have a public holiday today that's never been had today. It's the first time of this public holiday. Our government created it a couple years ago, and today it's a public holiday. It's estimated, from what I've seen and read, to cost the New Zealand economy $440 million today in businesses needing to pay staff time and a half, loss production, all those type of things. Well, if you are a worker, fantastic, you get yet another day off. But probably most people, through various things that have happened in the last year, have had so many days off anyway with coughs and sneezes and public holidays. But think of it from the business owner's point of view and the economy's point of view. Yet more costs, yet less production, yet more stress on the owner. And all of these things are accumulating. Like I said, if you are the worker,]]>363falsefullhttps://www.spreaker.com/episode/460-a-week-of-rises-and-crashes--50255585
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#460: A Week of Rises and Crashes
In this video:
00:25 – Outside in the middle of winter
00:40 – Massive moves in the markets this week
01:30 – Crypto’s are crashing
01:55 – What does this mean for us?
03:15 – Client makes +105% since April (in just 10 weeks)
03:54 – Blueberry Markets offer loss refunds
04:54 – Movements provide us with great trading opportunites
05:33 – Feel free to contact me directly

It's been a week of rises and crashes. Great opportunities for us in the Forex market and in the crypto market. Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 460.

Outside in the middle of winter

Wanted to get outside. Beautiful, crisp winter morning here. Not sure if you can see the snow behind me, but we've got a good dusting of snow on the mountains behind. And it's just a beautiful time to be outside. I'm hoping to go for a flight at the weekend and go and check out that new snow.

Massive moves in the markets this week

But back to the charts. Well, what a week it's been. Just massive rises, massive crashes, depending on what markets you're looking at. With the interest rates around the world, last week, the Australians put theirs up by 0.5% or 50 basis points, expected to be 0.25.

This week we've had the US, expected to go up by 0.5, went up 0.75, but the US then crashed, which is not what you'd expect, which is why we look at charts and not the news. The frank, when we were holding our live webinar last night, they put theirs up, expected zero change. It went up 50 basis points and the frank went massive, went through the roof. And then the British put theirs up by 0.25% as expected.

Crypto’s are crashing

Right now, Bitcoin, if you go back six weeks ago, back into the end of April, Bitcoin was about 40,000 US dollars. Today it's approaching 20,000. It's almost down to 20,000 as I'm recording this. Ethereum, a month ago, 2,200, today, 1,100. It's halved. It's crashed. It's dropped by 50% in a month. Just unbelievable.

What does this mean for us?

What does it mean for us though? As traders, it means opportunity. There are opportunities everywhere with movements in the markets. And the thing is, it doesn't matter whether I'm expecting the US to go up because they put their interest rates up and it went down, because on the charts, we were looking to sell the US anyway. And that's exactly what happened. It doesn't matter that Bitcoin and Ethereum are crashing, because we can sell them. When we see opportunities to sell, we can do that. In fact, about half an hour before I've started recording this, we've just taken a 12 hour sell on Ethereum because it's pulled back a little bit yesterday and now it looks like it's dropping again. Great opportunity to drive it down again and get out before the last swing low.

So opportunities everywhere. Forget the news. Just trade what the charts are showing you. And there are so many great opportunities because of course, we can go long and short. We can buy and sell. It's not like we bought Bitcoin at 60,000 and spent $60,000 on a Bitcoin and now it's worth 20,000 and we're all going, oh my gosh, we've just lost 40,000. Not like that at all. It's complete opposite.]]>https://theforextradingcoach.com/?p=14661Sun, 19 Jun 2022 10:55:04 +0000Andrew MitchemA Week of Rises and Crashes  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #460: A Week of Rises and Crashes In this video: 00:25 – Outside in the middle of winter 00:40 – Massive moves...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#460: A Week of Rises and Crashes
In this video:
00:25 – Outside in the middle of winter
00:40 – Massive moves in the markets this week
01:30 – Crypto’s are crashing
01:55 – What does this mean for us?
03:15 – Client makes +105% since April (in just 10 weeks)
03:54 – Blueberry Markets offer loss refunds
04:54 – Movements provide us with great trading opportunites
05:33 – Feel free to contact me directly

It's been a week of rises and crashes. Great opportunities for us in the Forex market and in the crypto market. Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 460.

Outside in the middle of winter

Wanted to get outside. Beautiful, crisp winter morning here. Not sure if you can see the snow behind me, but we've got a good dusting of snow on the mountains behind. And it's just a beautiful time to be outside. I'm hoping to go for a flight at the weekend and go and check out that new snow.

Massive moves in the markets this week

But back to the charts. Well, what a week it's been. Just massive rises, massive crashes, depending on what markets you're looking at. With the interest rates around the world, last week, the Australians put theirs up by 0.5% or 50 basis points, expected to be 0.25.

This week we've had the US, expected to go up by 0.5, went up 0.75, but the US then crashed, which is not what you'd expect, which is why we look at charts and not the news. The frank, when we were holding our live webinar last night, they put theirs up, expected zero change. It went up 50 basis points and the frank went massive, went through the roof. And then the British put theirs up by 0.25% as expected.

Crypto’s are crashing

Right now, Bitcoin, if you go back six weeks ago, back into the end of April, Bitcoin was about 40,000 US dollars. Today it's approaching 20,000. It's almost down to 20,000 as I'm recording this. Ethereum, a month ago, 2,200, today, 1,100. It's halved. It's crashed. It's dropped by 50% in a month. Just unbelievable.

What does this mean for us?

What does it mean for us though? As traders, it means opportunity. There are opportunities everywhere with movements in the markets. And the thing is, it doesn't matter whether I'm expecting the US to go up because they put their interest rates up and it went down, because on the charts, we were looking to sell the US anyway. And that's exactly what happened. It doesn't matter that Bitcoin and Ethereum are crashing, because we can sell them. When we see opportunities to sell, we can do that. In fact, about half an hour before I've started recording this, we've just taken a 12 hour sell on Ethereum because it's pulled back a little bit yesterday and now it looks like it's dropping again. Great opportunity to drive it down again and get out before the last swing low.

So opportunities everywhere. Forget the news. Just trade what the charts are showing you. And there are so many great opportunities because of course, we can go long and short. We can buy and sell. It's not like we bought Bitcoin at 60,000 and spent $60,000 on a Bitcoin and now it's worth 20,000 and we're all going, oh my gosh, we've just lost 40,000. Not like that at all. It's complete opposite.]]>344falsefullhttps://www.spreaker.com/episode/459-why-i-trade-using-candle-patterns--50172321
Podcast:

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#459: Why I Trade Using Candle Patterns
In this video:
00:26 – Why I use candle patterns
01:01 – Brokers offer you multiple indicators
01:41 – I deleted everything and started again
03:13 – Not all candles are equal
04:08 – Candles show you what’s happening in the market
05:05 – Blueberry Markets as a good broker option

I'm going to explain why I trade using candle patterns. Let's talk about that and more, right now.

Hey, traders. This is Andrew Mitchem here at the Forex Trading Coach with the video and podcast number 459.

Why I use candle patterns

This video is really important because it explains why I use candle patterns and why I believe you probably should do too, and how it will massively help you with your trading.

You see, there are different ways of trading. You can be a fundamental trader, where you're predominantly looking at news events, political events, those type of things, or a technical trader. I'm a technical trader. But even when you become a technical trader, there are still so many different ways of trading. And most people unfortunately get caught up in the hype and the glitz and the glamour of too many indicators.

Why I use candle patterns

You see, the Forex brokers are very, very good at offering you just an enormous basket of indicators. And everybody makes the same mistake when they start trading, as they think they are going to find this magical formulation of indicators that no one else has found. There's a magical combination, the right settings, that just no one else in the history of trading's ever discovered before. And this is what's going to make it work for you and why you should have lines all over your charts.

Look, I fell for it years and years ago as well. And it's something that pretty much everybody who decides to be a technical trader will do so at some stage in their trading journey. So it brings me back to candles.

I deleted everything and started again

The reason that I became profitable is I got rid of all that mess on my charts, all those lines and arrows and stars and all those different things. You know what I mean if you've been trading with any form of indicators in the past. And I got back to candles. Why? Well candles tell me what's happening in the market. They tell me where the price has reached to as a high, where it's been as a low. So therefore natural support and resistance levels. It tells me there's momentum. Is it moving upwards? Is it moving down? Is it indecisive? It tells me, when I look at what part of the chart the candle is in, whether there's room to move. Do I have the ability to get to my profit target before hitting resistance levels as buy trades?

And also the thing that so many people fail to do is they fail to look at the actual price. Now we're trading Forex pairs, or you might be trading commodities or cryptos, whatever it might be. If you don't look at the price on the right hand side of the chart, then all you're doing is basically following lots of squiggly lines on your charts if you're a technical trader, with too many indicators. You have to look at the right hand axis of your chart and look at the price. Why did that candle get up to that level? Oh, it's because it was a round number. Oh, look, it happened several candles ago, or several days ago,]]>https://theforextradingcoach.com/?p=14649Sun, 12 Jun 2022 10:55:02 +0000Andrew MitchemWhy I Trade Using Candle Patterns  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #459: Why I Trade Using Candle Patterns In this video: 00:26 – Why I use candle patterns 01:01 –...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#459: Why I Trade Using Candle Patterns
In this video:
00:26 – Why I use candle patterns
01:01 – Brokers offer you multiple indicators
01:41 – I deleted everything and started again
03:13 – Not all candles are equal
04:08 – Candles show you what’s happening in the market
05:05 – Blueberry Markets as a good broker option

I'm going to explain why I trade using candle patterns. Let's talk about that and more, right now.

Hey, traders. This is Andrew Mitchem here at the Forex Trading Coach with the video and podcast number 459.

Why I use candle patterns

This video is really important because it explains why I use candle patterns and why I believe you probably should do too, and how it will massively help you with your trading.

You see, there are different ways of trading. You can be a fundamental trader, where you're predominantly looking at news events, political events, those type of things, or a technical trader. I'm a technical trader. But even when you become a technical trader, there are still so many different ways of trading. And most people unfortunately get caught up in the hype and the glitz and the glamour of too many indicators.

Why I use candle patterns

You see, the Forex brokers are very, very good at offering you just an enormous basket of indicators. And everybody makes the same mistake when they start trading, as they think they are going to find this magical formulation of indicators that no one else has found. There's a magical combination, the right settings, that just no one else in the history of trading's ever discovered before. And this is what's going to make it work for you and why you should have lines all over your charts.

Look, I fell for it years and years ago as well. And it's something that pretty much everybody who decides to be a technical trader will do so at some stage in their trading journey. So it brings me back to candles.

I deleted everything and started again

The reason that I became profitable is I got rid of all that mess on my charts, all those lines and arrows and stars and all those different things. You know what I mean if you've been trading with any form of indicators in the past. And I got back to candles. Why? Well candles tell me what's happening in the market. They tell me where the price has reached to as a high, where it's been as a low. So therefore natural support and resistance levels. It tells me there's momentum. Is it moving upwards? Is it moving down? Is it indecisive? It tells me, when I look at what part of the chart the candle is in, whether there's room to move. Do I have the ability to get to my profit target before hitting resistance levels as buy trades?

And also the thing that so many people fail to do is they fail to look at the actual price. Now we're trading Forex pairs, or you might be trading commodities or cryptos, whatever it might be. If you don't look at the price on the right hand side of the chart, then all you're doing is basically following lots of squiggly lines on your charts if you're a technical trader, with too many indicators. You have to look at the right hand axis of your chart and look at the price. Why did that candle get up to that level? Oh, it's because it was a round number. Oh, look, it happened several candles ago, or several days ago,]]>351falsefullhttps://www.spreaker.com/episode/458-how-much-can-i-make-from-trading--50065269
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#458: How Much Can I Make from Trading?
In this video:
00:24 – How much can you make from your trading
00:59 – Made a +1.5% gain during the live weekly webinar
02:03 – What if I had risked more?
03:35 – If you want to trade for Prop firms
03:50 – Being self-employed and being an entrepreneur
04:53 – We’ve never missed daily trades or webinars
05:10 – The next tennis great?
06:17 – Take a look at Blueberry Markets

How much can I make from my Forex trading? It's a question that people ask me all the time. Let's talk about that a more right now.

Hey traders, it's Andrew Mitch here at the Forex trading coach with video and podcast number 458.

How much can you make from your trading

Question I get asked all the time is, Hey Andrew, how much can I make? And when you think about it's such an open ended question. It has so many variables in his answer that you can't actually give someone a real answer. What I can say is that it comes down to your dedication, your hard work, how much risk you take, what type of trader you are, what strategy you trade. There's lots and lots of variables, far too many to talk about on here. But I'm going to give you a few general ones.

Made a +1.5% gain during the live weekly webinar

Here's a great example for you just last night on my live webinar, where I hold with my clients, I ended up making a 1.5% account game. I took trades on the U.S., Singapore dollar 2 hour chart, U.S. Swedish Croner 6 hour, the German 30 index, 6 hour, and the U.S. dollar index 6 hour.

I actually had a buy trade that hit profit on silver against the U.S. on one hour chart in the session as well, but not including that one, because that was taken before we went live on the live trades that I took, that my clients could have followed copy taken. I personally made a 1.5% account gain, but I was only risking a quarter of 1% risk of my account, total per trade. Very, very small risk per trade, fantastic gains. And the reason I'm telling you that is when people say to me, Hey, what can I make? I go, well, I made 1.5% last night and they go, that's okay. That's not great. It's not exciting. Think of it this way.

What if I had risked more?

If I risked 2 1/2% risk per trade 10 times what I risked, I would've made a 15% account gain in the night on the webinar in just two hours. Start thinking about that and you go, wow, that's actually really impressive. A lot of people out there will tell you if you have a look on internet land and YouTube gurus and everybody else out there online that tells you how to trade. So many people will tell you should be risking up to 5% risk per trade. Let's imagine if I did that, I would've made a 30% gain on my account just in the one night. And the danger of that is that so many people then get really excited when they hear 15% gaining in a day or a night, just on two hours or 30% even. And people get the wrong side of it and they go, wow, that's just amazing. 30% in two hours. Where else can I do that? And while that is true, it all comes back to risk. And to me, you are far better off having that low controlled risk and being a consistent trader than you are to go 30% but 5% risk trade. It all depends on what suits you but my suggestion is you go low risk trade.

The trade is still the same,]]>https://theforextradingcoach.com/?p=14638Sun, 05 Jun 2022 10:55:25 +0000Andrew MitchemHow Much Can I Make from Trading?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #458: How Much Can I Make from Trading? In this video: 00:24 – How much can you make from your...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#458: How Much Can I Make from Trading?
In this video:
00:24 – How much can you make from your trading
00:59 – Made a +1.5% gain during the live weekly webinar
02:03 – What if I had risked more?
03:35 – If you want to trade for Prop firms
03:50 – Being self-employed and being an entrepreneur
04:53 – We’ve never missed daily trades or webinars
05:10 – The next tennis great?
06:17 – Take a look at Blueberry Markets

How much can I make from my Forex trading? It's a question that people ask me all the time. Let's talk about that a more right now.

Hey traders, it's Andrew Mitch here at the Forex trading coach with video and podcast number 458.

How much can you make from your trading

Question I get asked all the time is, Hey Andrew, how much can I make? And when you think about it's such an open ended question. It has so many variables in his answer that you can't actually give someone a real answer. What I can say is that it comes down to your dedication, your hard work, how much risk you take, what type of trader you are, what strategy you trade. There's lots and lots of variables, far too many to talk about on here. But I'm going to give you a few general ones.

Made a +1.5% gain during the live weekly webinar

Here's a great example for you just last night on my live webinar, where I hold with my clients, I ended up making a 1.5% account game. I took trades on the U.S., Singapore dollar 2 hour chart, U.S. Swedish Croner 6 hour, the German 30 index, 6 hour, and the U.S. dollar index 6 hour.

I actually had a buy trade that hit profit on silver against the U.S. on one hour chart in the session as well, but not including that one, because that was taken before we went live on the live trades that I took, that my clients could have followed copy taken. I personally made a 1.5% account gain, but I was only risking a quarter of 1% risk of my account, total per trade. Very, very small risk per trade, fantastic gains. And the reason I'm telling you that is when people say to me, Hey, what can I make? I go, well, I made 1.5% last night and they go, that's okay. That's not great. It's not exciting. Think of it this way.

What if I had risked more?

If I risked 2 1/2% risk per trade 10 times what I risked, I would've made a 15% account gain in the night on the webinar in just two hours. Start thinking about that and you go, wow, that's actually really impressive. A lot of people out there will tell you if you have a look on internet land and YouTube gurus and everybody else out there online that tells you how to trade. So many people will tell you should be risking up to 5% risk per trade. Let's imagine if I did that, I would've made a 30% gain on my account just in the one night. And the danger of that is that so many people then get really excited when they hear 15% gaining in a day or a night, just on two hours or 30% even. And people get the wrong side of it and they go, wow, that's just amazing. 30% in two hours. Where else can I do that? And while that is true, it all comes back to risk. And to me, you are far better off having that low controlled risk and being a consistent trader than you are to go 30% but 5% risk trade. It all depends on what suits you but my suggestion is you go low risk trade.

The trade is still the same,]]>419falsefullhttps://www.spreaker.com/episode/457-my-5-trading-tips-to-improve-your-results--49984717
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Download my Lot Size Calculator
#457: My 5 Trading Tips to Improve Your Results
In this video:
00:35 – #1 Understanding Risk Management
02:26 – Download my Lot Size Calculator
03:02 – #2 High Reward:Risk Trades 
03:59 – #3 Focus on a few Candle Patterns and Time Frame Charts
05:25 – #4 Forget Social Media and time wasting
05:57 – #5 Seek high quality trading education
07:22 – Bonus #6 – Blueberry Markets

I'm going to give you five tips that will massively help change your trading results around. Listen up for those five tips right now.

Hey, trader. This is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 457.

In this video and podcast, I'm going to give you five things that you can do right now today that will massively help change your trading around. Let's get into those.

#1 Understanding Risk Management

Number one, you need to understand risk management. Everybody wants to see all the flash side of trading, all the results, et cetera. But in order to trade properly, you have to understand risk management and have to know how to control your risk. Because ultimately, one of the keys to staying in business and trading properly and trading long term is understanding controlled risk.

And it's all well and good when you see people that say, "Hey, look, I made $100,000 in a month and I doubled my account in two weeks." None of that really counts. It's all just one-offs, if at all it's true. But the important thing for you, because there's two things I always say to people who are new that control your trading. One's up here, one's your head, the other's your heart. You've got to get those two under controls, to your emotions, psychological, all those type of issues under control. And to do that, you have to have low and controlled risk per trade.

Now, most people out there all still, despite all these years of me banging on about don't do it, people will still talk in pips. Forget pips. They will get you nowhere. They will not assist your trading. Do not worry about how many pips you make, lose, risk or anything like that. It does not matter. You try going down to the local shop and supermarket and go and buy something in pips. You cannot do it. Never have been able to, never will be able to.

What you have to do is yes, you can measure number of pips you're taking on a trade, but that then has to relate to your position size. And so, it's your position size that's the key to your trade. And what that means is, if you use the right position size on each individual trade, you can trade all timeframe charts, doesn't matter what the stop-loss is. Doesn't matter what the currency period is, whether it's a crypto or FX or metal, it does not matter.

Download my Lot Size Calculator

Understanding that is very important. I have a Lot Size calculator that will help you with that. If you don't have it, I will put link on this video and podcast somewhere for you to get it. It works on MT4 and MT5. You simply drag it onto the correct chart that you're about to trade. It knows the account size that you have. It knows the trade that you're about to take in terms of the currency.]]>https://theforextradingcoach.com/?p=14623Sun, 29 May 2022 10:55:05 +0000Andrew MitchemMy 5 Trading Tips to Improve Your Results  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click Here to Download my Lot Size Calculator #457: My 5 Trading Tips to Improve Your Results...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Click Here to Download my Lot Size Calculator
#457: My 5 Trading Tips to Improve Your Results
In this video:
00:35 – #1 Understanding Risk Management
02:26 – Download my Lot Size Calculator
03:02 – #2 High Reward:Risk Trades 
03:59 – #3 Focus on a few Candle Patterns and Time Frame Charts
05:25 – #4 Forget Social Media and time wasting
05:57 – #5 Seek high quality trading education
07:22 – Bonus #6 – Blueberry Markets

I'm going to give you five tips that will massively help change your trading results around. Listen up for those five tips right now.

Hey, trader. This is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 457.

In this video and podcast, I'm going to give you five things that you can do right now today that will massively help change your trading around. Let's get into those.

#1 Understanding Risk Management

Number one, you need to understand risk management. Everybody wants to see all the flash side of trading, all the results, et cetera. But in order to trade properly, you have to understand risk management and have to know how to control your risk. Because ultimately, one of the keys to staying in business and trading properly and trading long term is understanding controlled risk.

And it's all well and good when you see people that say, "Hey, look, I made $100,000 in a month and I doubled my account in two weeks." None of that really counts. It's all just one-offs, if at all it's true. But the important thing for you, because there's two things I always say to people who are new that control your trading. One's up here, one's your head, the other's your heart. You've got to get those two under controls, to your emotions, psychological, all those type of issues under control. And to do that, you have to have low and controlled risk per trade.

Now, most people out there all still, despite all these years of me banging on about don't do it, people will still talk in pips. Forget pips. They will get you nowhere. They will not assist your trading. Do not worry about how many pips you make, lose, risk or anything like that. It does not matter. You try going down to the local shop and supermarket and go and buy something in pips. You cannot do it. Never have been able to, never will be able to.

What you have to do is yes, you can measure number of pips you're taking on a trade, but that then has to relate to your position size. And so, it's your position size that's the key to your trade. And what that means is, if you use the right position size on each individual trade, you can trade all timeframe charts, doesn't matter what the stop-loss is. Doesn't matter what the currency period is, whether it's a crypto or FX or metal, it does not matter.

Download my Lot Size Calculator

Understanding that is very important. I have a Lot Size calculator that will help you with that. If you don't have it, I will put link on this video and podcast somewhere for you to get it. It works on MT4 and MT5. You simply drag it onto the correct chart that you're about to trade. It knows the account size that you have. It knows the trade that you're about to take in terms of the currency.]]>489falsefullhttps://www.spreaker.com/episode/456-trader-makes-7-25-gain-trading-the-15-minute-charts--49893474
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#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,]]>https://theforextradingcoach.com/?p=14611Sun, 22 May 2022 10:55:18 +0000Andrew MitchemTrader makes +7.25% gain trading the 15 minute charts  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #456: Trader makes +7.25% gain trading the 15 minute charts In this video: 00:35 –...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#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,]]>387falsefullhttps://www.spreaker.com/episode/455-are-you-still-in-love-with-the-crypto-markets--49801807
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Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#455: Are You Still In Love with the Crypto Markets?
In this video:
00:26 – An Incredible Week in the Crypto Markets
00:57 – Billions wiped off the market in the last day
02:12 – 401k becomes the 301k in the US
02:40 – All is not lost
03:00 – We can buy and also sell Cryptos
04:23 – Are you looking for a good broker?
05:47 – Next week, how a client has made +6% gain in the week on the 15 minute charts

Are you still in love with the crypto markets, or has that love disappeared? What an interesting week it's been. Let's talk about this and more right now.

Hey traders, Andrew Mitchem here at the Forex Trading Coach, with video and podcast number 455.

An Incredible Week in the Crypto Markets

As a crypto trader, if you're into cryptos, what a incredible week this has been. Probably not that great if you're a traditional way of trading the crypto markets. I was going to be talking about short timeframe charts this week. We've had one of our clients taken 15 trades this week on the 15 minute charts, and he's up over 6%. But I'm going to cover that next week because I really want to talk about cryptos being so topical right now.

Billions wiped off the market in the last day

So, what's happened? Well, billions have been wiped off the crypto market just in the last few days. Ethereum has plunged by 20% in the last day, in the last 24 hours, 20%. Bitcoin in the last day is down 11%, and 200 billion has been wiped off the crypto market in the last day. 200 billion, with a B, dollars. Incredible. That's just in the last day.

LUNA, it's called ADA/USD, if you see it on your charts, it's called LUNA. It's down 99% in the last 48 hours. I've just looked at my charts. If you went back to the 5th of April of this year, just over a month ago, it was at $119, 5th of April. Today, 13th of May, it's been as low as 0.001 of a dollar. I think that's a 10th of 1 cent. So it's gone from that on the 5th of April, $119, to today, 13th of May 2022, 0.001 of a dollar. That's incredible.

401k becomes the 301k in the US

I've also read an article regarding the US Retirement Funds, called the 401(k), which they call it over there. I've seen people now calling it the 301(k), a bit of tongue in cheek, but the reason they've done that is because 7 trillion, with a T, $7 trillion has been wiped off the stock market just this year. And we're not even in mid-May, so it's not looking great, is it?

All is not lost

But as always, we try to find solutions to these things. It is not all doom and gloom if you learn to trade your cryptos or your other markets the way that we trade, and to trade them with the leverage through the Forex markets or through the Forex brokers. The reason for that is quite simple.

We can buy and also sell Cryptos

We can buy and we can sell. We can go long. We can go short. And we can do that on cryptos as well. So for example, if you saw Ethereum or Bitcoin or even LUNA dropping, and you saw a reason to take a short position or a sell, we can jump straight into the market, or a limit order, a stop order, whichever you want, but you can get into the market and you can sell that crypto.

And that is the difference with this, as opposed to going out there and mining,]]>https://theforextradingcoach.com/?p=14600Sun, 15 May 2022 10:55:54 +0000Andrew MitchemAre You Still In Love with the Crypto Markets?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #455: Are You Still In Love with the Crypto Markets? In this video: 00:26 – An Incredible...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
#455: Are You Still In Love with the Crypto Markets?
In this video:
00:26 – An Incredible Week in the Crypto Markets
00:57 – Billions wiped off the market in the last day
02:12 – 401k becomes the 301k in the US
02:40 – All is not lost
03:00 – We can buy and also sell Cryptos
04:23 – Are you looking for a good broker?
05:47 – Next week, how a client has made +6% gain in the week on the 15 minute charts

Are you still in love with the crypto markets, or has that love disappeared? What an interesting week it's been. Let's talk about this and more right now.

Hey traders, Andrew Mitchem here at the Forex Trading Coach, with video and podcast number 455.

An Incredible Week in the Crypto Markets

As a crypto trader, if you're into cryptos, what a incredible week this has been. Probably not that great if you're a traditional way of trading the crypto markets. I was going to be talking about short timeframe charts this week. We've had one of our clients taken 15 trades this week on the 15 minute charts, and he's up over 6%. But I'm going to cover that next week because I really want to talk about cryptos being so topical right now.

Billions wiped off the market in the last day

So, what's happened? Well, billions have been wiped off the crypto market just in the last few days. Ethereum has plunged by 20% in the last day, in the last 24 hours, 20%. Bitcoin in the last day is down 11%, and 200 billion has been wiped off the crypto market in the last day. 200 billion, with a B, dollars. Incredible. That's just in the last day.

LUNA, it's called ADA/USD, if you see it on your charts, it's called LUNA. It's down 99% in the last 48 hours. I've just looked at my charts. If you went back to the 5th of April of this year, just over a month ago, it was at $119, 5th of April. Today, 13th of May, it's been as low as 0.001 of a dollar. I think that's a 10th of 1 cent. So it's gone from that on the 5th of April, $119, to today, 13th of May 2022, 0.001 of a dollar. That's incredible.

401k becomes the 301k in the US

I've also read an article regarding the US Retirement Funds, called the 401(k), which they call it over there. I've seen people now calling it the 301(k), a bit of tongue in cheek, but the reason they've done that is because 7 trillion, with a T, $7 trillion has been wiped off the stock market just this year. And we're not even in mid-May, so it's not looking great, is it?

All is not lost

But as always, we try to find solutions to these things. It is not all doom and gloom if you learn to trade your cryptos or your other markets the way that we trade, and to trade them with the leverage through the Forex markets or through the Forex brokers. The reason for that is quite simple.

We can buy and also sell Cryptos

We can buy and we can sell. We can go long. We can go short. And we can do that on cryptos as well. So for example, if you saw Ethereum or Bitcoin or even LUNA dropping, and you saw a reason to take a short position or a sell, we can jump straight into the market, or a limit order, a stop order, whichever you want, but you can get into the market and you can sell that crypto.

And that is the difference with this, as opposed to going out there and mining,]]>361falsefullhttps://www.spreaker.com/episode/454-amazing-offer-from-blueberry-markets--49534271
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my 13th Birthday Sale
#454: Amazing offer from Blueberry Markets
In this video:
00:24 – Easter break
00:54 – Broker offers a great incentive
02:30 – Inflation continues to soar around the world
03:42 – How much has your wage increased in the last year?
04:27 – What are you doing to future proof yourself?
05:45 – Click on the link to join Blueberry Markets
05:56 – Join us at The Forex Trading Coach
07:16 – 11 trades posted today for our clients to learn and earn from

I found a broker for you who is willing to refund some of your losses on your live account. Let's talk about that a more right now.

Hey traders. This is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 454.

Easter break

Hope you had a great break over Easter. We had a really good time where we had spectacular weather here in New Zealand, and we took advantage of that, myself and my wife, we flew down to Dunedin, which is close to the bottom of the South Island.

I did nearly eight hours of flying in the helicopter, for the week, and I had a great time. So I hope you had a great break too.

Now, something different, a number of things to discuss with you on this week's video on podcast.

Broker offers a great incentive

The first thing is, I was talking to Ben Clay, over at Blueberry Markets, last weekend.

He's put together a really fantastic offer, which I've never really heard of before. And I thought I'd just share that information with you.

If you open a new trading account with Blueberry, between now and the end of April. So you've only got this week to do this. And if you fund it with a minimum of $200, they will refund 20% of any losses that you have on your account.

So just check with them the exact terms and conditions. Say that you've seen this video or heard this podcast, and you're interested in their offer.

But I've I heard of a broker before, that's willing to refund a proportion of the losses that you make. So it could be something that's really worth having a look at.

Now, I think there's some terms and conditions. Like always, you cannot be an existing client with an existing account, and you cannot be in Australia or an Australian resident.

So there's a few things to check through. But it has a lot of merits, that if you opened, let's say, a $1000 account and took a loss, they're going to offer to refund. And again, there's maximum levels of refund, et cetera.

They're going to offer to refund, I think there's up to 20%, of your losses back to your account for you to use. So something very different.

As I was discussing with Ben, I said, "Look, I think this is something quite different. I'm going to share this with people who are on my video and podcast list." So I hope that's helpful for you.

Inflation continues to soar around the world

In other news, you'd have seen that inflation continues to rise around the world. Here in New Zealand, just yesterday, they announced a 6.9% inflation jump, which is the worst or the highest in 32 years.

And that's continuing to happen right around most of the world. I think Britain was up to about 7%. I think America's eight something. A lot of countries around the world are getting very, very high inflation levels.]]>https://theforextradingcoach.com/?p=14579Sun, 24 Apr 2022 11:55:36 +0000Andrew MitchemAmazing offer from Blueberry Markets  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my 13th Birthday Sale #454: Amazing offer from Blueberry Markets In this video: 00:24 – Easter break 00:54 – Broker offers a great...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my 13th Birthday Sale
#454: Amazing offer from Blueberry Markets
In this video:
00:24 – Easter break
00:54 – Broker offers a great incentive
02:30 – Inflation continues to soar around the world
03:42 – How much has your wage increased in the last year?
04:27 – What are you doing to future proof yourself?
05:45 – Click on the link to join Blueberry Markets
05:56 – Join us at The Forex Trading Coach
07:16 – 11 trades posted today for our clients to learn and earn from

I found a broker for you who is willing to refund some of your losses on your live account. Let's talk about that a more right now.

Hey traders. This is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 454.

Easter break

Hope you had a great break over Easter. We had a really good time where we had spectacular weather here in New Zealand, and we took advantage of that, myself and my wife, we flew down to Dunedin, which is close to the bottom of the South Island.

I did nearly eight hours of flying in the helicopter, for the week, and I had a great time. So I hope you had a great break too.

Now, something different, a number of things to discuss with you on this week's video on podcast.

Broker offers a great incentive

The first thing is, I was talking to Ben Clay, over at Blueberry Markets, last weekend.

He's put together a really fantastic offer, which I've never really heard of before. And I thought I'd just share that information with you.

If you open a new trading account with Blueberry, between now and the end of April. So you've only got this week to do this. And if you fund it with a minimum of $200, they will refund 20% of any losses that you have on your account.

So just check with them the exact terms and conditions. Say that you've seen this video or heard this podcast, and you're interested in their offer.

But I've I heard of a broker before, that's willing to refund a proportion of the losses that you make. So it could be something that's really worth having a look at.

Now, I think there's some terms and conditions. Like always, you cannot be an existing client with an existing account, and you cannot be in Australia or an Australian resident.

So there's a few things to check through. But it has a lot of merits, that if you opened, let's say, a $1000 account and took a loss, they're going to offer to refund. And again, there's maximum levels of refund, et cetera.

They're going to offer to refund, I think there's up to 20%, of your losses back to your account for you to use. So something very different.

As I was discussing with Ben, I said, "Look, I think this is something quite different. I'm going to share this with people who are on my video and podcast list." So I hope that's helpful for you.

Inflation continues to soar around the world

In other news, you'd have seen that inflation continues to rise around the world. Here in New Zealand, just yesterday, they announced a 6.9% inflation jump, which is the worst or the highest in 32 years.

And that's continuing to happen right around most of the world. I think Britain was up to about 7%. I think America's eight something. A lot of countries around the world are getting very, very high inflation levels.]]>434falsefullhttps://www.spreaker.com/episode/453-seeing-through-the-chaos-of-the-forex-market--49383464
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#453: Seeing Through the Chaos of The Forex Market
In this video:
00:25 – The markets are just chaos
01:17 – Doing nothing could be the best thing to do
01:57 – Traded the H8 and H12 charts instead
03:11 – We help our clients to demystify the charts
04:24 – You have to be able to act on what the market is telling you in real time
05:45 – Time to join us?
05:51 – Are you looking for a good Forex broker?
06:42 – How you can contact me

How can you easily see through the chaos that is the forex market? Let's talk about that and more right now.

Hey, traders. It's Andrew Mitchem here at The Forex Trading Coach. This is video and podcast number 453.

The markets are just chaos

Now, the markets are just chaos. That's really what they are. Lots of lines, lots of different indicators, lots of confusion going on, different timeframes, different currency pairs, different system strategies, just utter chaos. But as a trader, you need to be able to see through that chaos to actually read on the charts what is actually happening, and think, "Well, behind the scenes, what are these charts telling me is happening right now?" Are there more buyers in the market? Are there more sellers in the market? Is this a trade to take or not? How do I know which currency pair to look at? How do I know which timeframe chart to look at? What happens if the MACDs telling me to buy and the RSIs is telling me to sell? All those type of things. Utter, utter chaos going on in the market.

Doing nothing could be the best thing to do

And sometimes, the answer is to do nothing. Give you an example, just today, right now. The 8th of April on the daily charts, we have taken no trades today on the daily charts. Why? Because there are no good setups. We've been through all the forex pairs, all the metals, the indices, commodities, cryptos, everything. I do not see a single trade today on the daily charts. So, therefore, we've not taken any. We've had a great week so far. We've had four really good days of trading and had some good trades. And therefore, the answer today or the solution today, the strategy is do not take any trades because there are none.

Traded the H8 and H12 charts instead

However, we're still taking two trades, one on the eight-hour Euro-Aussie and one on the Euro-Hungarian forint on 8-hour and 12-hour that we posted on our membership site for our clients to trade and to learn from. Why? Well, because out of all the different currency pairs, all the markets, all the timeframes, at the change of day leading into Friday the 8th, those are the only two setups that I see on the charts that are suitable to trade the strategy that I trade. And therefore, those are the only two that we've passed onto people. Why are they good? Well, they have the candle pattern that we look for. They're bouncing at the right area that we're looking for. They have some stop-loss protection that we're looking for. They have room to move. They're both sell trades. They have room to move before any next support gets in the way, any previous lows, pivot points, middle Bollinger Bands, all those type of things. So, we see on those two trades, are high-probability setups, and therefore they are the two we've taken. So, we've looked through of all the chaos, we've seen through all the chaos,]]>https://theforextradingcoach.com/?p=14554Sun, 10 Apr 2022 10:55:40 +0000Andrew MitchemSeeing Through the Chaos of The Forex Market  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #453: Seeing Through the Chaos of The Forex Market In this video: 00:25 – The...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#453: Seeing Through the Chaos of The Forex Market
In this video:
00:25 – The markets are just chaos
01:17 – Doing nothing could be the best thing to do
01:57 – Traded the H8 and H12 charts instead
03:11 – We help our clients to demystify the charts
04:24 – You have to be able to act on what the market is telling you in real time
05:45 – Time to join us?
05:51 – Are you looking for a good Forex broker?
06:42 – How you can contact me

How can you easily see through the chaos that is the forex market? Let's talk about that and more right now.

Hey, traders. It's Andrew Mitchem here at The Forex Trading Coach. This is video and podcast number 453.

The markets are just chaos

Now, the markets are just chaos. That's really what they are. Lots of lines, lots of different indicators, lots of confusion going on, different timeframes, different currency pairs, different system strategies, just utter chaos. But as a trader, you need to be able to see through that chaos to actually read on the charts what is actually happening, and think, "Well, behind the scenes, what are these charts telling me is happening right now?" Are there more buyers in the market? Are there more sellers in the market? Is this a trade to take or not? How do I know which currency pair to look at? How do I know which timeframe chart to look at? What happens if the MACDs telling me to buy and the RSIs is telling me to sell? All those type of things. Utter, utter chaos going on in the market.

Doing nothing could be the best thing to do

And sometimes, the answer is to do nothing. Give you an example, just today, right now. The 8th of April on the daily charts, we have taken no trades today on the daily charts. Why? Because there are no good setups. We've been through all the forex pairs, all the metals, the indices, commodities, cryptos, everything. I do not see a single trade today on the daily charts. So, therefore, we've not taken any. We've had a great week so far. We've had four really good days of trading and had some good trades. And therefore, the answer today or the solution today, the strategy is do not take any trades because there are none.

Traded the H8 and H12 charts instead

However, we're still taking two trades, one on the eight-hour Euro-Aussie and one on the Euro-Hungarian forint on 8-hour and 12-hour that we posted on our membership site for our clients to trade and to learn from. Why? Well, because out of all the different currency pairs, all the markets, all the timeframes, at the change of day leading into Friday the 8th, those are the only two setups that I see on the charts that are suitable to trade the strategy that I trade. And therefore, those are the only two that we've passed onto people. Why are they good? Well, they have the candle pattern that we look for. They're bouncing at the right area that we're looking for. They have some stop-loss protection that we're looking for. They have room to move. They're both sell trades. They have room to move before any next support gets in the way, any previous lows, pivot points, middle Bollinger Bands, all those type of things. So, we see on those two trades, are high-probability setups, and therefore they are the two we've taken. So, we've looked through of all the chaos, we've seen through all the chaos,]]>434falsefullhttps://www.spreaker.com/episode/452-how-to-make-great-returns-if-you-have-a-small-trading-account--49300860
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#452: How to Make Great Returns if You Have a Small Trading Account?
In this video:
00:31 – How to make excellent gains with a small account
00:49 – The incorrect perceptions
02:07 – Questions from traders 
04:00 – Losing traders blame the market
04:26 – What can you do differently?
05:06 – Trading on a prop firm account
06:08 – How much money do you need in your account right now?
07:11 – Choosing a Forex broker

I'm going to explain how you can make fantastic returns from your trading, even if you only have a small trading account today. Let's talk about that and more right now.

Hey, Forex traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 452.

How to make excellent gains with a small account

And I want to explain all about how you can make some exceptional gains and returns through trading the Forex market even if your account is very small. And ultimately your account size today does not matter, but let me explain more.

The incorrect perceptions

You see the problem is most people think you need a large account in order to trade and to make money from trading and eventually to make a living from trading. But there's more to it than just that. And let me explain what I mean. You see the issue that I see everywhere is that so many people get into trading with unrealistic expectations, and they might come to the market with a thousand dollars account or $5,000 account. And they think they're going to be able to live on that. And of course you can't.

And so therefore to try and make some meaningful money out of that, they start doing silly things. They'll start scalping the market, trading, making a pip or two on one minute or five minute charts. Some people will try news trading. Some people will try what called Martingale, which is when you basically double your position size all the time. And eventually one of those trades will win and make up for all the losses. Some people trade without stop losses. All these kind of crazy things that people do, which is incorrect trading, but they do it because they have a small account size to start with. So you can see the issue that people have.

Questions from traders 

And I get questions all the time from people and they say, "How much do I need to pay for your course? Things like that. And people then come to me and go, "Well, how much am I going to make?" And I'll give you a great example. Right behind me here. I've got a US Singapore 12 hour chart trade open. Okay. So I've got three trades open on my account behind me. They're all on the 12 hour charts, all took yesterday, all on our membership site, all posted. And I've had three trades close, three still open. If I close them all right now on those six trades, I'll be up 1.8%, but I've only risked a quarter of 1% on each of those six trades. So I'd be up 1.8% if I close them right now. I'm not going to because the three still open have got a little way to go to profit. I'll probably be up around 2-1/2% total if they all hit their profit target for the six trades, quarter percent risk per trade.

Now some people looking at that and go, "2-1/2%, that's not very exciting." I look at that and go 2-1/2%, but with only exceptionally small risk per trade is incredibly good t...]]>https://theforextradingcoach.com/?p=14538Sun, 03 Apr 2022 10:55:23 +0000Andrew MitchemHow to Make Great Returns if You Have a Small Trading Account?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #452: How to Make Great Returns if You Have a Small Trading...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#452: How to Make Great Returns if You Have a Small Trading Account?
In this video:
00:31 – How to make excellent gains with a small account
00:49 – The incorrect perceptions
02:07 – Questions from traders 
04:00 – Losing traders blame the market
04:26 – What can you do differently?
05:06 – Trading on a prop firm account
06:08 – How much money do you need in your account right now?
07:11 – Choosing a Forex broker

I'm going to explain how you can make fantastic returns from your trading, even if you only have a small trading account today. Let's talk about that and more right now.

Hey, Forex traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 452.

How to make excellent gains with a small account

And I want to explain all about how you can make some exceptional gains and returns through trading the Forex market even if your account is very small. And ultimately your account size today does not matter, but let me explain more.

The incorrect perceptions

You see the problem is most people think you need a large account in order to trade and to make money from trading and eventually to make a living from trading. But there's more to it than just that. And let me explain what I mean. You see the issue that I see everywhere is that so many people get into trading with unrealistic expectations, and they might come to the market with a thousand dollars account or $5,000 account. And they think they're going to be able to live on that. And of course you can't.

And so therefore to try and make some meaningful money out of that, they start doing silly things. They'll start scalping the market, trading, making a pip or two on one minute or five minute charts. Some people will try news trading. Some people will try what called Martingale, which is when you basically double your position size all the time. And eventually one of those trades will win and make up for all the losses. Some people trade without stop losses. All these kind of crazy things that people do, which is incorrect trading, but they do it because they have a small account size to start with. So you can see the issue that people have.

Questions from traders 

And I get questions all the time from people and they say, "How much do I need to pay for your course? Things like that. And people then come to me and go, "Well, how much am I going to make?" And I'll give you a great example. Right behind me here. I've got a US Singapore 12 hour chart trade open. Okay. So I've got three trades open on my account behind me. They're all on the 12 hour charts, all took yesterday, all on our membership site, all posted. And I've had three trades close, three still open. If I close them all right now on those six trades, I'll be up 1.8%, but I've only risked a quarter of 1% on each of those six trades. So I'd be up 1.8% if I close them right now. I'm not going to because the three still open have got a little way to go to profit. I'll probably be up around 2-1/2% total if they all hit their profit target for the six trades, quarter percent risk per trade.

Now some people looking at that and go, "2-1/2%, that's not very exciting." I look at that and go 2-1/2%, but with only exceptionally small risk per trade is incredibly good t...]]>503falsefullhttps://www.spreaker.com/episode/451-what-is-the-best-time-frame-chart-to-trade--49214883
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#451: What is the Best Time Frame Chart to Trade?
In this video:

00:26 – The best time frame chart to trade?

01:31 – Even more time frame charts now available on MT5

02:08 – How I analyse the market each week

03:14 – Trade only at the close of a candle

03:42 – Trade at 5pm EST New York Time

04:21 – Where is the best candle pattern showing?

05:25 – Have a look at Blueberry Markets when looking for a broker

06:35 – Subscribe and share this video

What's the best timeframe chart to trade? You've got so many options now, and it can be very confusing, so let me help you with that and more right now.

Hey, traders, it's Andrew Mitchem, here at The Forex Trading Coach with video and podcast number 451.

The best time frame chart to trade?

And I get asked the question every week, "Andrew, what's the best timeframe chart to trade?" And that's it. People get very confused. They want to know the best. The answer is really there is no one best timeframe. But as a trader, I believe that you need to look at multiple timeframe charts.

Now, the issue that a lot of people have is they might be seeing a potential buy trade on one timeframe. And you might have seen a down trend and the trend looks like it's reversing. The market looks very oversold, and you're thinking, "I'm looking for opportunities here to buy it back up again." And that may be on, let's say, a one hour chart. And then you go to a four hour or six hour daily chart, and it's clearly in a down trend. And you're going, "Oh, but I'm now looking at this being overboard and it looking like it's going to fall. But when I click through to a different timeframe, it looks like it's going to start rising." And that complete confusion and you're not really sure what's happening in the market.

Even more time frame charts now available on MT5

And I suppose now with MT5, if you're on MT5, you now have the option of far more built in timeframe charts that MT4 never offered. As an example, you can trade two hour, three hour, 6, 8, 12 hour charts that on MT4, they were never there a standard timeframe charts.

And so potentially this leads to even more confusion for people because they got even more timeframes to scan through and you can even go down to the number of minutes on MT5 as well. By the way, I suggest that you don't trade anything shorter than a one hour chart ever. It's just not worth it.

So you can see the confusion that people have there.

How I analyse the market each week

So for me, when I analyse the market each week, at the beginning of each week, I go through the weekly charts and I look at the anticipated strengthen and weaknesses on different currencies and the currency pairs. In other words, where I'm seeing on the bigger timeframe, likely movement up or down for that week. I do the same each day based off the daily charts as well. So I say that within the day, the next 24 hours, the euros looking really strong and the U.S. is looking really weak. Therefore, the Euro, U.S. dollar, I'm anticipating it's going to go up. Doesn't mean to say, I'm just simply taking a buy trade, but it means to say that I'm preferring buy trades if I see them.]]>https://theforextradingcoach.com/?p=14505Sun, 27 Mar 2022 10:55:18 +0000Andrew MitchemWhat is the Best Time Frame Chart to Trade?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #451: What is the Best Time Frame Chart to Trade? In this video: 00:26 – The...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#451: What is the Best Time Frame Chart to Trade?
In this video:

00:26 – The best time frame chart to trade?

01:31 – Even more time frame charts now available on MT5

02:08 – How I analyse the market each week

03:14 – Trade only at the close of a candle

03:42 – Trade at 5pm EST New York Time

04:21 – Where is the best candle pattern showing?

05:25 – Have a look at Blueberry Markets when looking for a broker

06:35 – Subscribe and share this video

What's the best timeframe chart to trade? You've got so many options now, and it can be very confusing, so let me help you with that and more right now.

Hey, traders, it's Andrew Mitchem, here at The Forex Trading Coach with video and podcast number 451.

The best time frame chart to trade?

And I get asked the question every week, "Andrew, what's the best timeframe chart to trade?" And that's it. People get very confused. They want to know the best. The answer is really there is no one best timeframe. But as a trader, I believe that you need to look at multiple timeframe charts.

Now, the issue that a lot of people have is they might be seeing a potential buy trade on one timeframe. And you might have seen a down trend and the trend looks like it's reversing. The market looks very oversold, and you're thinking, "I'm looking for opportunities here to buy it back up again." And that may be on, let's say, a one hour chart. And then you go to a four hour or six hour daily chart, and it's clearly in a down trend. And you're going, "Oh, but I'm now looking at this being overboard and it looking like it's going to fall. But when I click through to a different timeframe, it looks like it's going to start rising." And that complete confusion and you're not really sure what's happening in the market.

Even more time frame charts now available on MT5

And I suppose now with MT5, if you're on MT5, you now have the option of far more built in timeframe charts that MT4 never offered. As an example, you can trade two hour, three hour, 6, 8, 12 hour charts that on MT4, they were never there a standard timeframe charts.

And so potentially this leads to even more confusion for people because they got even more timeframes to scan through and you can even go down to the number of minutes on MT5 as well. By the way, I suggest that you don't trade anything shorter than a one hour chart ever. It's just not worth it.

So you can see the confusion that people have there.

How I analyse the market each week

So for me, when I analyse the market each week, at the beginning of each week, I go through the weekly charts and I look at the anticipated strengthen and weaknesses on different currencies and the currency pairs. In other words, where I'm seeing on the bigger timeframe, likely movement up or down for that week. I do the same each day based off the daily charts as well. So I say that within the day, the next 24 hours, the euros looking really strong and the U.S. is looking really weak. Therefore, the Euro, U.S. dollar, I'm anticipating it's going to go up. Doesn't mean to say, I'm just simply taking a buy trade, but it means to say that I'm preferring buy trades if I see them.]]>412falsefullhttps://www.spreaker.com/episode/450-all-the-trading-tips-you-need-to-be-a-successful-trader--49121790
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#450: All the Trading Tips You Need to Be a Successful Trader
In this video:
00:36 – Great feedback from my weekly videos and podcasts
01:13 – What’s kept me trading?
02:40 – You make it look easy
03:49 – I love trading the Forex market
05:11 – 3 trades and all 3 hit the profit target
05:55 – Valuable content for you on my videos and podcasts
06:49 – Prop firm trading success stories
07:49 – Choose Blueberry Markets and MT5
08:36 – Contact me for future trading topics

If you're the sort of person that wants to learn how to trade a very low risk and consistent way of trading the Forex market and other markets, I really encourage you to go and review many of my previous weekly videos and podcasts, just like this one. Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 450.

Great feedback from my weekly videos and podcasts

We've reached another milestone. I really love bringing these weekly videos and podcasts to you and I love the feedback that we get because it helps so many people. Now, I first started trading back in 2003, a long time ago now. Back then there wasn't really a great deal of information out there, especially related specifically to the Forex market. If I was learning about different indicators and chart patterns, it was mostly stock-related and I put it into the Forex market and I found that most of it didn't really work particularly well.

What’s kept me trading?

But over the time you kind of develop your own things. I get asked all the time, "Andrew, why are you still trading right now and what's kept you going through all that time?" Because when I look back at other people who were trading back when I started, almost none of them are still trading today. So I'm really proud of our longevity and our consistency. To me it's the consistency that is the key; as a person, as a trader, as a company. So as a trader, I find so many people come to me and they say, look I want to become your best student. I want to become the best trader. I want to become a money manager. I want to become all these things. They give me all these emails for about a week or two and then they don't take action or nothing happens. They go quiet. It's like, well I suspect you've been on Google and you've learned Amazon drop shipping, or you're going to create e-book marketing or you're going to create something else. That becomes the biggest issue I find with so many want-to-be traders.

Without sounding rude people traditionally, most people, are quite lazy. People want things handed to them. You have to be able to do the work and you have to be prepared to do that hard work upfront.

You make it look easy

It's all well and good to say, you make it look easy. But that's because I've had years and years of going through that hard work process and that consistency to get to this stage. I bring it back to flying the helicopter that I fly again. When I was learning it was an utter nightmare. It's so hard to learn how to fly a helicopter. But you watch someone who's been doing it all the time and they make it look so easy. It's so natural to them. It's only because of their dedication and hard work and perseverance and investment in time and in themselve...]]>https://theforextradingcoach.com/?p=14495Sun, 20 Mar 2022 10:55:09 +0000Andrew MitchemAll the Trading Tips You Need to Be a Successful Trader  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #450: All the Trading Tips You Need to Be a Successful Trader In...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#450: All the Trading Tips You Need to Be a Successful Trader
In this video:
00:36 – Great feedback from my weekly videos and podcasts
01:13 – What’s kept me trading?
02:40 – You make it look easy
03:49 – I love trading the Forex market
05:11 – 3 trades and all 3 hit the profit target
05:55 – Valuable content for you on my videos and podcasts
06:49 – Prop firm trading success stories
07:49 – Choose Blueberry Markets and MT5
08:36 – Contact me for future trading topics

If you're the sort of person that wants to learn how to trade a very low risk and consistent way of trading the Forex market and other markets, I really encourage you to go and review many of my previous weekly videos and podcasts, just like this one. Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 450.

Great feedback from my weekly videos and podcasts

We've reached another milestone. I really love bringing these weekly videos and podcasts to you and I love the feedback that we get because it helps so many people. Now, I first started trading back in 2003, a long time ago now. Back then there wasn't really a great deal of information out there, especially related specifically to the Forex market. If I was learning about different indicators and chart patterns, it was mostly stock-related and I put it into the Forex market and I found that most of it didn't really work particularly well.

What’s kept me trading?

But over the time you kind of develop your own things. I get asked all the time, "Andrew, why are you still trading right now and what's kept you going through all that time?" Because when I look back at other people who were trading back when I started, almost none of them are still trading today. So I'm really proud of our longevity and our consistency. To me it's the consistency that is the key; as a person, as a trader, as a company. So as a trader, I find so many people come to me and they say, look I want to become your best student. I want to become the best trader. I want to become a money manager. I want to become all these things. They give me all these emails for about a week or two and then they don't take action or nothing happens. They go quiet. It's like, well I suspect you've been on Google and you've learned Amazon drop shipping, or you're going to create e-book marketing or you're going to create something else. That becomes the biggest issue I find with so many want-to-be traders.

Without sounding rude people traditionally, most people, are quite lazy. People want things handed to them. You have to be able to do the work and you have to be prepared to do that hard work upfront.

You make it look easy

It's all well and good to say, you make it look easy. But that's because I've had years and years of going through that hard work process and that consistency to get to this stage. I bring it back to flying the helicopter that I fly again. When I was learning it was an utter nightmare. It's so hard to learn how to fly a helicopter. But you watch someone who's been doing it all the time and they make it look so easy. It's so natural to them. It's only because of their dedication and hard work and perseverance and investment in time and in themselve...]]>539falsefullhttps://www.spreaker.com/episode/449-how-are-the-fuel-prices-where-you-live--49044515
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#449: How Are the Fuel Prices Where You Live?
In this video:
00:29 – Russian invasion of Ukraine
01:06 – Massive global inflation
01:48 – The price of fuel
02:56 – What can you do about it?
03:33 – Trading is one of the best ways ahead
04:14 – Fast tracking your trading income
05:09 – Clients making great returns via Prop firms
06:20 – Crypto trades make us +7.1% gain in 1 day
07:22 – Blueberry Markets are my broker of choice

The Russian war is affecting everybody, but let's see how you can protect yourself from its downside effects. Let's talk about that a more right now.

Hey traders, this is Andrew Mitchem here at the Forex Trading Coach for video and podcast number 349.

Russian invasion of Ukraine

Well, obviously the Russian invasion of Ukraine is getting massive international news right now. And it doesn't really matter whether you live in Europe and it's relatively close by. You may even be in Ukraine itself. And obviously it's a massive issue, or you could be in the US or South America, South Africa, Australia, New Zealand, you could be thousands and thousands of kilometres away from physically being there, but it still has an effect on all of us.

Massive global inflation

Now, over the last couple of years, obviously with the incredible amount of spending that governments have done around the world through handouts and cost of COVID, there's all these massive, massive costs that have built up and there's not been so much production.

What we've obviously seen over the last sort of, well, part of this year so far, is inflation going to massive record level. And now you add on top of that, the issues that have been created with supply chains and oil and gas prices from the Russian invasion of Ukraine, and you're getting like a double whammy.

The price of fuel

Now, I know here in New Zealand, the price of fuel is just going through the roof. I know I put a lot of fuel in the helicopter to fly. The price has gone crazy. Obviously, for shipping here, everything has to be brought in because unfortunately no longer do we make anything here. So everything has to be brought in. The cost of international shipping, not only the time delays, but the cost of doing it, is through the roof.

I talk to people in America all the time, their fuel price is getting crazy. I've talked to people in Europe and they reckon that it's now uneconomical for some people to put fuel in their car to go to work because the price has gone up so much. So all of this, the inflation cost, the cost of living, the fuel, all gets harder and harder to run your daily lives. Your cost of living. You pay your mortgages. Add on top of that places like New Zealand here, where we still have these ridiculous job mandates still due to COVID and people have lost their jobs because they've chosen not to get jabbed. So you've got so much spiralling out of control here.

What can you do about it?

What can you do about it? Well, you can go and ask your boss for a pay rise. Good luck with that. See how that goes. Probably not going to happen in many cases, probably not going to get the favourable answer that you're looking for. You could go and win the lottery, go and win a horse race, but it's not likely to happen. Is it?]]>https://theforextradingcoach.com/?p=14486Sun, 13 Mar 2022 10:55:19 +0000Andrew MitchemHow Are the Fuel Prices Where You Live?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #449: How Are the Fuel Prices Where You Live? In this video: 00:29 – Russian invasion...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#449: How Are the Fuel Prices Where You Live?
In this video:
00:29 – Russian invasion of Ukraine
01:06 – Massive global inflation
01:48 – The price of fuel
02:56 – What can you do about it?
03:33 – Trading is one of the best ways ahead
04:14 – Fast tracking your trading income
05:09 – Clients making great returns via Prop firms
06:20 – Crypto trades make us +7.1% gain in 1 day
07:22 – Blueberry Markets are my broker of choice

The Russian war is affecting everybody, but let's see how you can protect yourself from its downside effects. Let's talk about that a more right now.

Hey traders, this is Andrew Mitchem here at the Forex Trading Coach for video and podcast number 349.

Russian invasion of Ukraine

Well, obviously the Russian invasion of Ukraine is getting massive international news right now. And it doesn't really matter whether you live in Europe and it's relatively close by. You may even be in Ukraine itself. And obviously it's a massive issue, or you could be in the US or South America, South Africa, Australia, New Zealand, you could be thousands and thousands of kilometres away from physically being there, but it still has an effect on all of us.

Massive global inflation

Now, over the last couple of years, obviously with the incredible amount of spending that governments have done around the world through handouts and cost of COVID, there's all these massive, massive costs that have built up and there's not been so much production.

What we've obviously seen over the last sort of, well, part of this year so far, is inflation going to massive record level. And now you add on top of that, the issues that have been created with supply chains and oil and gas prices from the Russian invasion of Ukraine, and you're getting like a double whammy.

The price of fuel

Now, I know here in New Zealand, the price of fuel is just going through the roof. I know I put a lot of fuel in the helicopter to fly. The price has gone crazy. Obviously, for shipping here, everything has to be brought in because unfortunately no longer do we make anything here. So everything has to be brought in. The cost of international shipping, not only the time delays, but the cost of doing it, is through the roof.

I talk to people in America all the time, their fuel price is getting crazy. I've talked to people in Europe and they reckon that it's now uneconomical for some people to put fuel in their car to go to work because the price has gone up so much. So all of this, the inflation cost, the cost of living, the fuel, all gets harder and harder to run your daily lives. Your cost of living. You pay your mortgages. Add on top of that places like New Zealand here, where we still have these ridiculous job mandates still due to COVID and people have lost their jobs because they've chosen not to get jabbed. So you've got so much spiralling out of control here.

What can you do about it?

What can you do about it? Well, you can go and ask your boss for a pay rise. Good luck with that. See how that goes. Probably not going to happen in many cases, probably not going to get the favourable answer that you're looking for. You could go and win the lottery, go and win a horse race, but it's not likely to happen. Is it?]]>491falsefullhttps://www.spreaker.com/episode/448-trading-crypto-s-commodities-and-indices--48966451
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#445: Trading Crypto’s, Commodities and Indices
In this video:
00:30 – Trading More Forex Pairs and Non-Forex Markets
01:40 – Choice of many Metals, Cryptos and Indices to trade
02:14 – A Sell trade on Coffee on the Monthly chart
03:05 – How things have changed in 1 year
04:28 – Don’t be concerned with only your local currency
04:47 – Changed to the MT5 platform
05:39 – Trading with Blueberry Markets
06:00 – Client passes $100k Prop firm challenge

We now have the opportunity to trade markets other than the forex market and we're having outstanding success at that. Let me explain more and how you can do the same right now.

Hey there trader, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 448.

Trading More Forex Pairs and Non-Forex Markets

Now being the Forex Trading Coach, we trade the forex market, no surprises there, but over the last year or so, most brokers are offering so much more. They're offering a lot more forex pairs than we used to traditionally have. We've got Swedish Krona, Norwegian Kroner, Hungarian Forint. We've got South the African Rand, Russian Ruble. Not that you probably want to be trading that right now, but you know, there's so many other markets out there. Currencies in Thai, all these others that... a few years ago, Singapore Dollar that you couldn't trade. And so what it's doing is offering us a lot more opportunities out there to scan through your charts and see, and take some trades.

But the other fantastic thing that we now have the opportunity to do, is to trade other markets other than the forex market. And over the last sort of six months or so, we've been getting into that a lot more because brokers are offering more. So therefore in the forex pairs, not only they're offering just the standard pairs, there are a lot more.

Choice of many Metals, Cryptos and Indices to trade

When it comes to the metals, it's not just gold and silver anymore. There's a lot more there's lead and platinum, titanium and all these other metals that you can trade. When it comes to cryptos, it's not just Bitcoin and Ethereum, there's lots more. When it comes to the indices, you've got the ability to trade so many different indices from around the world.

When it comes to the commodities, it's not just maybe something like wheat like it used to be or soybeans, there's so much more.

A Sell trade on Coffee on the Monthly chart

Give you a great opportunity and example of that is that, over my shoulder here, probably a bit hard to see behind me. I've just hit profit, just like a few hours ago on a monthly chart trade selling robusta coffee. Now you're going to have a look at your charts. Robusta coffee on the January monthly chart close. I took a sell trade. We look for a retracement, we got a beautiful retracement. And right now today being the 4th of March, we have just hit profit right today. That's made a 3.7 to 1 trade. I took it at the beginning of February when the January monthly chart closed for nothing with it since, and it just gone on hit profit. So it is literally a two minute see the trade, take the trade, forget about the trade. It just worked beautifully and it fell.

How things have changed in 1 year

Now,]]>https://theforextradingcoach.com/?p=14475Sun, 06 Mar 2022 10:55:24 +0000Andrew MitchemTrading Crypto’s, Commodities and Indices  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #445: Trading Crypto’s, Commodities and Indices In this video: 00:30 – Trading...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#445: Trading Crypto’s, Commodities and Indices
In this video:
00:30 – Trading More Forex Pairs and Non-Forex Markets
01:40 – Choice of many Metals, Cryptos and Indices to trade
02:14 – A Sell trade on Coffee on the Monthly chart
03:05 – How things have changed in 1 year
04:28 – Don’t be concerned with only your local currency
04:47 – Changed to the MT5 platform
05:39 – Trading with Blueberry Markets
06:00 – Client passes $100k Prop firm challenge

We now have the opportunity to trade markets other than the forex market and we're having outstanding success at that. Let me explain more and how you can do the same right now.

Hey there trader, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 448.

Trading More Forex Pairs and Non-Forex Markets

Now being the Forex Trading Coach, we trade the forex market, no surprises there, but over the last year or so, most brokers are offering so much more. They're offering a lot more forex pairs than we used to traditionally have. We've got Swedish Krona, Norwegian Kroner, Hungarian Forint. We've got South the African Rand, Russian Ruble. Not that you probably want to be trading that right now, but you know, there's so many other markets out there. Currencies in Thai, all these others that... a few years ago, Singapore Dollar that you couldn't trade. And so what it's doing is offering us a lot more opportunities out there to scan through your charts and see, and take some trades.

But the other fantastic thing that we now have the opportunity to do, is to trade other markets other than the forex market. And over the last sort of six months or so, we've been getting into that a lot more because brokers are offering more. So therefore in the forex pairs, not only they're offering just the standard pairs, there are a lot more.

Choice of many Metals, Cryptos and Indices to trade

When it comes to the metals, it's not just gold and silver anymore. There's a lot more there's lead and platinum, titanium and all these other metals that you can trade. When it comes to cryptos, it's not just Bitcoin and Ethereum, there's lots more. When it comes to the indices, you've got the ability to trade so many different indices from around the world.

When it comes to the commodities, it's not just maybe something like wheat like it used to be or soybeans, there's so much more.

A Sell trade on Coffee on the Monthly chart

Give you a great opportunity and example of that is that, over my shoulder here, probably a bit hard to see behind me. I've just hit profit, just like a few hours ago on a monthly chart trade selling robusta coffee. Now you're going to have a look at your charts. Robusta coffee on the January monthly chart close. I took a sell trade. We look for a retracement, we got a beautiful retracement. And right now today being the 4th of March, we have just hit profit right today. That's made a 3.7 to 1 trade. I took it at the beginning of February when the January monthly chart closed for nothing with it since, and it just gone on hit profit. So it is literally a two minute see the trade, take the trade, forget about the trade. It just worked beautifully and it fell.

How things have changed in 1 year

Now,]]>412falsefullhttps://www.spreaker.com/episode/447-this-is-why-so-many-people-are-trading-gold-right-now--48885094
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#447: This Is Why So Many People Are Trading Gold Right Now?
In this video:
00:32 – Talking Gold, Great Results and 12/13 Profitable Trades
01:11 – Russian invasion of Ukraine and how it affects the market
02:12 – Fear and Uncertainty
02:48 – A lot of trades are on Gold
03:30 – Uncertainty over the morals of the banks
04:25 – Very few D1 trades but lots of H12 and H8 trades
05:00 – Trading Long and Short
06:26 – Future proofing yourself
07:12 – Client makes 8% gain on a $100k account in the last 2 days

Why are so many people trading gold right now, and how does the Russian invasion of Ukraine affect us as forex traders? Let's get into that and more right now.

Hey there, forex traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 447.

Talking Gold, Great Results and 12/13 Profitable Trades

Lots to get through on this session. I want to talk about gold. Why are so many people trading gold right now? Also, want to cover the amazing story I was told yesterday by one of our coaching clients who has just made 8% gain in the last two days, trading on a $100,000 prop firm account, and also want to discuss with you how we put, on our membership site, 10 trades yesterday. All 10 hit profit. I also took three trades on our live webinar yesterday, and two out of three also hit profit, so having some really good success there with our trades.

Russian invasion of Ukraine and how it affects the market

Elsewhere in the world, what's happening? Well, over the last 24 hours, Russia has now invaded into Ukraine. Obviously going to cause a lot of turmoil, a lot of issues politically. It's going to put up oil prices. It's not going to help us with inflation. The US-Russian ruble has moved more today, in 24 hours, than it's moved in the entire last 12 months. Great volatility out there, which, as traders, actually provides us with some good trading opportunities. You got to be careful that you don't want to be seen that a war's starting, and you're taking advantage of it, but the wars do move things and the market is now moving. As traders, and as technical traders, we're not so much interested in what the fundamentals are behind the scenes. It's more what's happening on the charts and trading those opportunities. We're certainly seeing that come into the market right now.

Fear and Uncertainty

Obviously with war, there comes fear and anxiety and uncertainty. We've been through two years of this with COVID. Most of the world, thankfully, is now getting on with life. Here in New Zealand, unfortunately, we're still stuck in the fear of the COVID situation and government control and everything else that's going on. It doesn't matter where you are in the world, there's this uncertainty and that fear.

Oil prices, like I said, have gone up. Shipping costs have gone up. Inflation's going up. Everything's going up, becoming more and more expensive. Mortgage rates are going up, et cetera.

A lot of trades are on Gold

I was talking to Ben Clay over at Blueberry Markets earlier in the week, and he said to me, a very high proportion of their trading right now, that they're seeing at Blueberry Markets, is on gold. It got me thinking of ... This is prior to the Russian invasion,]]>https://theforextradingcoach.com/?p=14458Sun, 27 Feb 2022 10:55:24 +0000Andrew MitchemThis Is Why So Many People Are Trading Gold Right Now?  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #447: This Is Why So Many People Are Trading Gold Right Now? In...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#447: This Is Why So Many People Are Trading Gold Right Now?
In this video:
00:32 – Talking Gold, Great Results and 12/13 Profitable Trades
01:11 – Russian invasion of Ukraine and how it affects the market
02:12 – Fear and Uncertainty
02:48 – A lot of trades are on Gold
03:30 – Uncertainty over the morals of the banks
04:25 – Very few D1 trades but lots of H12 and H8 trades
05:00 – Trading Long and Short
06:26 – Future proofing yourself
07:12 – Client makes 8% gain on a $100k account in the last 2 days

Why are so many people trading gold right now, and how does the Russian invasion of Ukraine affect us as forex traders? Let's get into that and more right now.

Hey there, forex traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 447.

Talking Gold, Great Results and 12/13 Profitable Trades

Lots to get through on this session. I want to talk about gold. Why are so many people trading gold right now? Also, want to cover the amazing story I was told yesterday by one of our coaching clients who has just made 8% gain in the last two days, trading on a $100,000 prop firm account, and also want to discuss with you how we put, on our membership site, 10 trades yesterday. All 10 hit profit. I also took three trades on our live webinar yesterday, and two out of three also hit profit, so having some really good success there with our trades.

Russian invasion of Ukraine and how it affects the market

Elsewhere in the world, what's happening? Well, over the last 24 hours, Russia has now invaded into Ukraine. Obviously going to cause a lot of turmoil, a lot of issues politically. It's going to put up oil prices. It's not going to help us with inflation. The US-Russian ruble has moved more today, in 24 hours, than it's moved in the entire last 12 months. Great volatility out there, which, as traders, actually provides us with some good trading opportunities. You got to be careful that you don't want to be seen that a war's starting, and you're taking advantage of it, but the wars do move things and the market is now moving. As traders, and as technical traders, we're not so much interested in what the fundamentals are behind the scenes. It's more what's happening on the charts and trading those opportunities. We're certainly seeing that come into the market right now.

Fear and Uncertainty

Obviously with war, there comes fear and anxiety and uncertainty. We've been through two years of this with COVID. Most of the world, thankfully, is now getting on with life. Here in New Zealand, unfortunately, we're still stuck in the fear of the COVID situation and government control and everything else that's going on. It doesn't matter where you are in the world, there's this uncertainty and that fear.

Oil prices, like I said, have gone up. Shipping costs have gone up. Inflation's going up. Everything's going up, becoming more and more expensive. Mortgage rates are going up, et cetera.

A lot of trades are on Gold

I was talking to Ben Clay over at Blueberry Markets earlier in the week, and he said to me, a very high proportion of their trading right now, that they're seeing at Blueberry Markets, is on gold. It got me thinking of ... This is prior to the Russian invasion,]]>466falsefullhttps://www.spreaker.com/episode/446-the-importance-of-a-traders-community--48805176
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#446: The Importance of a Traders Community
In this video:
00:30 – Trading can be a lonely business
01:31 – We are big on creating a trading community
02:02 – Feedback from traders
02:21 – The webinars and the Forum site make the difference
03:50 – There are 5-10 trades posted per day
05:50 – Blueberry Markets are the best
06:45 – Any topics that you’d like me to discuss

Talking with other traders and being part of a like-minded community is a massive way to ensure that your trading is successful. Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 446.

Trading can be a lonely business

Now, trading, as you probably know, can be quite a lonely business. You're probably trading from home, let's say, and no one really understands what you're doing, your wife, husband, partner, kids, parents. No one really knows. A lot of people don't really care.

No one understands what it is that you're really doing. They say to me, "Are you trading stocks or something like that, or share trading?" And that's as about as much as they know. Family and friends, in most instances, are not that helpful when it comes to trading. As a result of that, you, as the trader, you sit there at home like me here with the computer and it's just you and the computer and it's quite lonely. It can be quite boring. It's not a very good way of...

Especially when you're new or you've been trading for a while and you're getting real frustrated, it's not a good way of ensuring success.

Trading can be a lonely business

Now, one of the things that we do at Forex Trading Coach is we are really big on our trading community and helping people in real time. When people have been with us for six months and then a year, we go back to them and say, "Look, what is it that you are doing now that's different? What are your liking most about the course? Anything we can do to add to things, change things, improve things," just to get constant feedback from people.

Feedback from traders

And without a doubt, the feedback's very consistent, and the people love the strategy. They love the email support. They love the software. They love the daily trades. They can follow along. All that people love.

The webinars and the Forum site make the difference

But the two things that stand out in most cases are the fact that people absolutely love being on the live weekly webinars and they love the forum site. When you think about that, two of those are things that happen in real time.

They're places where you can interact and be part of a community. Now, most online forums, and I know this from years ago with experience, are just dreadful. Absolutely awful places to be. It's just taken over by a small minority of people. Systems come and go. They swap and change all the time. It just never ends well. It just doesn't. Never does. What I love about our forum site is it's for clients only.

We're only talking and trading one strategy and everybody there is there with the same common goal, to be a good trader, to help other people to be profitable, and just to basically make this work for them. And that's what we get. We have a live chat facility where clients can all ...]]>https://theforextradingcoach.com/?p=14446Sun, 20 Feb 2022 10:55:22 +0000Andrew MitchemThe Importance of a Traders Community  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #446: The Importance of a Traders Community In this video: 00:30 – Trading can be a...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#446: The Importance of a Traders Community
In this video:
00:30 – Trading can be a lonely business
01:31 – We are big on creating a trading community
02:02 – Feedback from traders
02:21 – The webinars and the Forum site make the difference
03:50 – There are 5-10 trades posted per day
05:50 – Blueberry Markets are the best
06:45 – Any topics that you’d like me to discuss

Talking with other traders and being part of a like-minded community is a massive way to ensure that your trading is successful. Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 446.

Trading can be a lonely business

Now, trading, as you probably know, can be quite a lonely business. You're probably trading from home, let's say, and no one really understands what you're doing, your wife, husband, partner, kids, parents. No one really knows. A lot of people don't really care.

No one understands what it is that you're really doing. They say to me, "Are you trading stocks or something like that, or share trading?" And that's as about as much as they know. Family and friends, in most instances, are not that helpful when it comes to trading. As a result of that, you, as the trader, you sit there at home like me here with the computer and it's just you and the computer and it's quite lonely. It can be quite boring. It's not a very good way of...

Especially when you're new or you've been trading for a while and you're getting real frustrated, it's not a good way of ensuring success.

Trading can be a lonely business

Now, one of the things that we do at Forex Trading Coach is we are really big on our trading community and helping people in real time. When people have been with us for six months and then a year, we go back to them and say, "Look, what is it that you are doing now that's different? What are your liking most about the course? Anything we can do to add to things, change things, improve things," just to get constant feedback from people.

Feedback from traders

And without a doubt, the feedback's very consistent, and the people love the strategy. They love the email support. They love the software. They love the daily trades. They can follow along. All that people love.

The webinars and the Forum site make the difference

But the two things that stand out in most cases are the fact that people absolutely love being on the live weekly webinars and they love the forum site. When you think about that, two of those are things that happen in real time.

They're places where you can interact and be part of a community. Now, most online forums, and I know this from years ago with experience, are just dreadful. Absolutely awful places to be. It's just taken over by a small minority of people. Systems come and go. They swap and change all the time. It just never ends well. It just doesn't. Never does. What I love about our forum site is it's for clients only.

We're only talking and trading one strategy and everybody there is there with the same common goal, to be a good trader, to help other people to be profitable, and just to basically make this work for them. And that's what we get. We have a live chat facility where clients can all ...]]>436falsefullhttps://www.spreaker.com/episode/445-how-using-limit-orders-will-increase-your-trading-performance--48711853
Podcast:

Click Here to Check Out The5ers.com Interview with Ryo Chong
Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#445: How Using Limit Orders Will Increase Your Trading Performance
In this video:
00:29 – I use Limit Orders on all of my trades
01:12 – Limit orders are the key to high reward:risk trades
02:23 – Other benefits of using limit orders
03:00 – Client trading for Prop firm credits limit order with an improvement in his trading results
05:12 – Consider Blueberry Markets if you are looking for a good Forex broker
06:13 – Enjoy your trading more by using Limit orders

I'm going to talk about limit orders, why I use them all the time in my trading, and how they can help make a massive change in your trading results. Let's talk about that and more right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach, with the video and podcast number 445.

I use Limit Orders on all of my trades

Now, I want to talk about limit orders. I use them on all of my trades. They're an incredible way of trading that will help you massively. So when you see a trade, you've got a few options. You can enter straight away at the market, and you're literally pressing buy or sell, put your lot size in that you require, and you're in the market straight away. You can use a breakout of a range that's called generally a buy stop or a sales stop. A buy stop is to buy somewhere above the current price, and a sales stop is to sell somewhere below the current price.

It's okay if you're trading breakouts, etc., like that, but it's not generally a great way in terms of increasing the reward to risk of your trades.

Limit orders are the key to high reward:risk trades

However, the key to trading successfully with high reward to risk trades is to use limit orders, retracement orders. So, I use buy limits to buy lower than the current price and to sell higher than the current price. Price is always moving around. It obviously moves up down, very rarely does it move sideways, but it's always moving. And even if you get, let's say, an uptrend, within that uptrend, you're always going to get pullbacks. Nothing just goes dead straight line.

And so, very rarely will you see a candle on your charts, especially a good setup candle and especially one on the longer timeframe charts that just opens at the absolute low and just go straight up. Very rarely does that happen. It can happen from time to time, but not very often. Most of the time you will see a, let's say, there's a good bullish set up most of the time within the next candles formation. You'll see the price drop first, and then go back up again. The opposite with a sale trade, you will see that the price will first get higher and then it will drop. That's how we take advantage of limit orders.

Other benefits of using limit orders

Now the other great thing is apart from not needing to be there at the exact time the price hit your entry level, because you can just place your buy limit or your sell limit and basically leave the trade alone to get filled. The other good thing with it is it takes the stress and the motion out of your trading, because it's not like the candles closed and you're re...]]>https://theforextradingcoach.com/?p=14437Sun, 13 Feb 2022 10:55:05 +0000Andrew MitchemHow Using Limit Orders Will Increase Your Trading Performance  Podcast: Click Here to Check Out The5ers.com Interview with Ryo Chong Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here...
Podcast:

Click Here to Check Out The5ers.com Interview with Ryo Chong
Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#445: How Using Limit Orders Will Increase Your Trading Performance
In this video:
00:29 – I use Limit Orders on all of my trades
01:12 – Limit orders are the key to high reward:risk trades
02:23 – Other benefits of using limit orders
03:00 – Client trading for Prop firm credits limit order with an improvement in his trading results
05:12 – Consider Blueberry Markets if you are looking for a good Forex broker
06:13 – Enjoy your trading more by using Limit orders

I'm going to talk about limit orders, why I use them all the time in my trading, and how they can help make a massive change in your trading results. Let's talk about that and more right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach, with the video and podcast number 445.

I use Limit Orders on all of my trades

Now, I want to talk about limit orders. I use them on all of my trades. They're an incredible way of trading that will help you massively. So when you see a trade, you've got a few options. You can enter straight away at the market, and you're literally pressing buy or sell, put your lot size in that you require, and you're in the market straight away. You can use a breakout of a range that's called generally a buy stop or a sales stop. A buy stop is to buy somewhere above the current price, and a sales stop is to sell somewhere below the current price.

It's okay if you're trading breakouts, etc., like that, but it's not generally a great way in terms of increasing the reward to risk of your trades.

Limit orders are the key to high reward:risk trades

However, the key to trading successfully with high reward to risk trades is to use limit orders, retracement orders. So, I use buy limits to buy lower than the current price and to sell higher than the current price. Price is always moving around. It obviously moves up down, very rarely does it move sideways, but it's always moving. And even if you get, let's say, an uptrend, within that uptrend, you're always going to get pullbacks. Nothing just goes dead straight line.

And so, very rarely will you see a candle on your charts, especially a good setup candle and especially one on the longer timeframe charts that just opens at the absolute low and just go straight up. Very rarely does that happen. It can happen from time to time, but not very often. Most of the time you will see a, let's say, there's a good bullish set up most of the time within the next candles formation. You'll see the price drop first, and then go back up again. The opposite with a sale trade, you will see that the price will first get higher and then it will drop. That's how we take advantage of limit orders.

Other benefits of using limit orders

Now the other great thing is apart from not needing to be there at the exact time the price hit your entry level, because you can just place your buy limit or your sell limit and basically leave the trade alone to get filled. The other good thing with it is it takes the stress and the motion out of your trading, because it's not like the candles closed and you're re...]]>403falsefullhttps://www.spreaker.com/episode/444-how-to-use-other-people-s-money-to-boost-your-trading-income--48616512
Podcast:

Click Here to Check Out The5ers.com Interview with Ryo Chong
Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#444: How To Use Other People’s Money To Boost Your Trading Income
In this video:
00:25 – Boost your trading income by using other people’s income
01:09 – Prop firm trading
01:37 – What is a Prop firm?
02:50 – Once you know how to trade, the income potential is massive
03:09 – Ryo’s interview on the5ers
04:50 – The one thing that changed Ryo’s trading
05:44 – Are we a match?
06:25 – Have a look at Blueberry Markets
07:42 – Don’t rush out now signing up with Prop firms

I'm going to explain how you can use other people's money to boost your trading income through your trading. This is really exciting. Let's talk about that and more right now.

Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 444.

Boost your trading income by using other people’s income

And I'm going to talk about how you can use other people's money to massively boost the income that you make from your trading. This is something that's just going to affect so many people and benefit so many people once you know what you're doing.

So the best thing that I see about trading the Forex market is really your income is unlimited. There is no limit to what you can make through trading the forex market, but once you know what you're doing. Now, traditionally, you could do things like trade for a few family and friends. You could sell trading signals. You could do things like that.

But more recently, there's a lot better way of making money by using other people's money.

Prop firm trading

And it's a fantastic concept. And it's called prop firm trading. Now I mentioned this on last week's video on podcast. And I said I was going to put together a how-to guide listing and how you can go step by step and set up accounts or prop firm traders, and how you can make money through profit share. And I'm putting that together and I'll let you know once that is ready.

What is a Prop firm?

But a prop firm is basically an organization where you can apply generally for a fee upfront to show them how well you can prove. And generally they have different challenges or different levels, different steps that you have to go through. But when you get to achieve those levels and you prove to them that you can trade through the rules that they set, whether it be leverage, drawdowns, number of days, closing over weekends, all those type of things. Different prop firms have different rules, but basically what the end goal is to get to is to use their money.

And you can trade like $50,000, 100,000. Some of them I've seen up to like two million dollars of their money when you get to the top levels. And if you are making X percent on that account, according to their rules, you are then on a profit share of those gains. And with almost all the prop firms, the profit shares, once you get to the higher levels are like 60/40, 70/30. I've seen some at 80/20. And so you get to keep, let's say, 80% of the profits and they keep 20% of the profits, but it's their money that you are trading.]]>https://theforextradingcoach.com/?p=14428Sun, 06 Feb 2022 21:19:26 +0000Andrew MitchemHow To Use Other People’s Money To Boost Your Trading Income  Podcast: Click Here to Check Out The5ers.com Interview with Ryo Chong Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here...
Podcast:

Click Here to Check Out The5ers.com Interview with Ryo Chong
Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#444: How To Use Other People’s Money To Boost Your Trading Income
In this video:
00:25 – Boost your trading income by using other people’s income
01:09 – Prop firm trading
01:37 – What is a Prop firm?
02:50 – Once you know how to trade, the income potential is massive
03:09 – Ryo’s interview on the5ers
04:50 – The one thing that changed Ryo’s trading
05:44 – Are we a match?
06:25 – Have a look at Blueberry Markets
07:42 – Don’t rush out now signing up with Prop firms

I'm going to explain how you can use other people's money to boost your trading income through your trading. This is really exciting. Let's talk about that and more right now.

Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 444.

Boost your trading income by using other people’s income

And I'm going to talk about how you can use other people's money to massively boost the income that you make from your trading. This is something that's just going to affect so many people and benefit so many people once you know what you're doing.

So the best thing that I see about trading the Forex market is really your income is unlimited. There is no limit to what you can make through trading the forex market, but once you know what you're doing. Now, traditionally, you could do things like trade for a few family and friends. You could sell trading signals. You could do things like that.

But more recently, there's a lot better way of making money by using other people's money.

Prop firm trading

And it's a fantastic concept. And it's called prop firm trading. Now I mentioned this on last week's video on podcast. And I said I was going to put together a how-to guide listing and how you can go step by step and set up accounts or prop firm traders, and how you can make money through profit share. And I'm putting that together and I'll let you know once that is ready.

What is a Prop firm?

But a prop firm is basically an organization where you can apply generally for a fee upfront to show them how well you can prove. And generally they have different challenges or different levels, different steps that you have to go through. But when you get to achieve those levels and you prove to them that you can trade through the rules that they set, whether it be leverage, drawdowns, number of days, closing over weekends, all those type of things. Different prop firms have different rules, but basically what the end goal is to get to is to use their money.

And you can trade like $50,000, 100,000. Some of them I've seen up to like two million dollars of their money when you get to the top levels. And if you are making X percent on that account, according to their rules, you are then on a profit share of those gains. And with almost all the prop firms, the profit shares, once you get to the higher levels are like 60/40, 70/30. I've seen some at 80/20. And so you get to keep, let's say, 80% of the profits and they keep 20% of the profits, but it's their money that you are trading.]]>511falsefullhttps://www.spreaker.com/episode/443-inflation-is-now-at-levels-not-seen-for-30-40-years--48505730
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#443: Inflation Is Now at Levels Not Seen for 30-40 Years
In this video:
00:27 – Massive Inflation rates around the world
01:21 – Are you going backwards?
01:46 – What can you do about this?
02:42 – Most people only buy Crypto’s
03:15 – Weekly Indices trades hit their profit target
03:36 – Do you wish to know more about Prop firms?
05:44 – Trade with Blueberry Markets

Around the world we're now experienced inflation levels that we've not seen for the past 30 to 40 years. What does that mean for you? Let's talk about that a more right now.

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 443.

Massive Inflation rates around the world

Now you may have seen a very hot topic around the world right now, many economies is in inflation and how high it has got. In the US, they've just announced that their inflation rates has reached 7%. That's the highest seen over there since 1982. Here in New Zealand 6.3% is the level economists are talking about. That's also the highest that we've seen since the mid 1980s. Over in Canada, 4.8%, throughout the Euro Zone, 5%. In the UK 5.4%. So very high inflation rates. What does that mean? Well, obviously the cost of living is going up massively.

It's something that has been predicted for the last year or two. And it's here right now. You've noticed things like food, fuel, housing, all the expensive things in your life are going up faster and faster and faster.

Are you going backwards?

So if you are on wages, what does that mean? Well, wages for a lot of people are pretty static, fairly constant. So it means that if you're in the US and inflation's gone up 7%, and your wage has not gone up 7%, you've effectively gone backwards from this time last year. It's costing you more of your wage to buy the same thing effectively, you're heading backwards.

What can you do about this?

And what can you do about that? Well there's different investment methods and obviously cryptos, and we'll use Bitcoin as an example as something that so many people have talked about over the last few years. So imagine how you feel right now if just over two months ago, you purchased Bitcoin for $69,000 and this week it's worth $33,000. Not great. And so for me, the thing that I love about trading the Forex market of course is we have the ability to sell. And we can still trade cryptos and we do, and I'll give you a great example with just last week on our membership site, we published a sell trade on Ethereum.

We were selling on the daily chart and within two days we'd made a 3.2 to 1 reward to risk trade. In other words, we risked half of 1% on the trade, and we've made at 1.6% account gain by selling Ethereum.

Most people only buy Crypto’s

And the way that most people are getting into cryptos is you can only buy. And the beauty of the Forex market and the ability to sell something is what makes it so different and so good to me because of course not every chart keeps going up and up and up.

Bitcoin, Ethereum right now are perfect examples. So not only are we gaining some great gains on the Forex pairs, we're now also looking at the indices, the cryptos and the commodities.

Weekly Indices trades hit their profit target]]>https://theforextradingcoach.com/?p=14416Sun, 30 Jan 2022 10:55:12 +0000Andrew MitchemInflation Is Now at Levels Not Seen for 30-40 Years  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #443: Inflation Is Now at Levels Not Seen for 30-40 Years In this video:...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#443: Inflation Is Now at Levels Not Seen for 30-40 Years
In this video:
00:27 – Massive Inflation rates around the world
01:21 – Are you going backwards?
01:46 – What can you do about this?
02:42 – Most people only buy Crypto’s
03:15 – Weekly Indices trades hit their profit target
03:36 – Do you wish to know more about Prop firms?
05:44 – Trade with Blueberry Markets

Around the world we're now experienced inflation levels that we've not seen for the past 30 to 40 years. What does that mean for you? Let's talk about that a more right now.

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 443.

Massive Inflation rates around the world

Now you may have seen a very hot topic around the world right now, many economies is in inflation and how high it has got. In the US, they've just announced that their inflation rates has reached 7%. That's the highest seen over there since 1982. Here in New Zealand 6.3% is the level economists are talking about. That's also the highest that we've seen since the mid 1980s. Over in Canada, 4.8%, throughout the Euro Zone, 5%. In the UK 5.4%. So very high inflation rates. What does that mean? Well, obviously the cost of living is going up massively.

It's something that has been predicted for the last year or two. And it's here right now. You've noticed things like food, fuel, housing, all the expensive things in your life are going up faster and faster and faster.

Are you going backwards?

So if you are on wages, what does that mean? Well, wages for a lot of people are pretty static, fairly constant. So it means that if you're in the US and inflation's gone up 7%, and your wage has not gone up 7%, you've effectively gone backwards from this time last year. It's costing you more of your wage to buy the same thing effectively, you're heading backwards.

What can you do about this?

And what can you do about that? Well there's different investment methods and obviously cryptos, and we'll use Bitcoin as an example as something that so many people have talked about over the last few years. So imagine how you feel right now if just over two months ago, you purchased Bitcoin for $69,000 and this week it's worth $33,000. Not great. And so for me, the thing that I love about trading the Forex market of course is we have the ability to sell. And we can still trade cryptos and we do, and I'll give you a great example with just last week on our membership site, we published a sell trade on Ethereum.

We were selling on the daily chart and within two days we'd made a 3.2 to 1 reward to risk trade. In other words, we risked half of 1% on the trade, and we've made at 1.6% account gain by selling Ethereum.

Most people only buy Crypto’s

And the way that most people are getting into cryptos is you can only buy. And the beauty of the Forex market and the ability to sell something is what makes it so different and so good to me because of course not every chart keeps going up and up and up.

Bitcoin, Ethereum right now are perfect examples. So not only are we gaining some great gains on the Forex pairs, we're now also looking at the indices, the cryptos and the commodities.

Weekly Indices trades hit their profit target]]>404falsefullhttps://www.spreaker.com/episode/442-why-the-daily-chart-is-the-best-time-frame-chart-to-trade--48412943
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#442: Why the Daily Chart is the Best Time Frame Chart to Trade
In this video:
00:31 – When to trade and which time frame chart?
01:04 – Not watching your charts all of the time
01:50 – Trade the MN1 and W1 charts too
02:13 – Spend 10 -15 minutes once a day
03:08 – Trades from this week
04:01 – Sell trades on the H8 charts
04:26 – Summary of when to trade
05:07 – Feel free to share my trading information

If you had to pick one timeframe chart and one time of day to trade the forex market, when would that be? Let me explain more about how I trade and why I look at the daily charts at 5:00 PM New York time. Let's get into that and more, right now.

Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 442.

When to trade and which time frame chart?

Now, questions I get asked all the time is, "Andrew, so many different chart timeframes out there, which one's the best, and when should I look at my charts?" So the easy answer for me is you should try and look at the daily charts each day. It's something I've done for the last 14, 15 years, and it's something that's very repeatable. It's easy to do. It doesn't take much time. It's profitable, and it is consistently reliable because the daily charts contain so much information.

Not watching your charts all of the time

It also means that you're not sitting there waiting all day and night watching charts. It also means that you're not leaving trades open for days upon days or weeks upon weeks. So it has a perfect blend for me. Now, if you cannot get to your charts at 5:00 PM New York time, doesn't matter, because the way that we trade, we use limit orders, anyway. Now we have coaching clients in 99 countries, all around the world, all on different time zones, people with different jobs, different times they can get to their charts, whether it be work, family, sport, all these different restrictions. Not everybody around the world can be there at exactly that time. But that is the time when the daily charts close, and then the new day opens.

Trade the MN1 and W1 charts too

At the beginning of each month, the new month opens at 5:00 PM, New York time, on the first of each new month, and the beginning of each week, the weekly charts open as well. So if you can be near your charts around that time, 5:00, 6:00, 7:00, 8:00, 9:00, 10:00 PM, New York time, depending on what that time is for you, that's going to be the ideal time to go and look at your charts for the daily charts.

Spend 10 -15 minutes once a day

Now I can scan through the daily charts using all the forex pairs, and now we also look at indices, cryptos and commodities, and I can go through all the daily charts in around 10, 15 minutes. And I do that now on a regular daily basis. But also you don't have to trade just the daily timeframes at that time. You see, at that same time of day, I then go through and look at the 12 hour charts, the eight hour charts, the six hour and the four hour. So you can scan all those four timeframe charts plus the daily. At the beginning of each week, you can do the weekly as well. And that gives you so many opportunities.

Now, realistically, you can do all of that, completely, easily in under 30 minutes a day. Absolutely.]]>https://theforextradingcoach.com/?p=14406Sun, 23 Jan 2022 10:55:10 +0000Andrew MitchemWhy the Daily Chart is the Best Time Frame Chart to Trade  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #442: Why the Daily Chart is the Best Time Frame Chart to Trade In...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#442: Why the Daily Chart is the Best Time Frame Chart to Trade
In this video:
00:31 – When to trade and which time frame chart?
01:04 – Not watching your charts all of the time
01:50 – Trade the MN1 and W1 charts too
02:13 – Spend 10 -15 minutes once a day
03:08 – Trades from this week
04:01 – Sell trades on the H8 charts
04:26 – Summary of when to trade
05:07 – Feel free to share my trading information

If you had to pick one timeframe chart and one time of day to trade the forex market, when would that be? Let me explain more about how I trade and why I look at the daily charts at 5:00 PM New York time. Let's get into that and more, right now.

Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 442.

When to trade and which time frame chart?

Now, questions I get asked all the time is, "Andrew, so many different chart timeframes out there, which one's the best, and when should I look at my charts?" So the easy answer for me is you should try and look at the daily charts each day. It's something I've done for the last 14, 15 years, and it's something that's very repeatable. It's easy to do. It doesn't take much time. It's profitable, and it is consistently reliable because the daily charts contain so much information.

Not watching your charts all of the time

It also means that you're not sitting there waiting all day and night watching charts. It also means that you're not leaving trades open for days upon days or weeks upon weeks. So it has a perfect blend for me. Now, if you cannot get to your charts at 5:00 PM New York time, doesn't matter, because the way that we trade, we use limit orders, anyway. Now we have coaching clients in 99 countries, all around the world, all on different time zones, people with different jobs, different times they can get to their charts, whether it be work, family, sport, all these different restrictions. Not everybody around the world can be there at exactly that time. But that is the time when the daily charts close, and then the new day opens.

Trade the MN1 and W1 charts too

At the beginning of each month, the new month opens at 5:00 PM, New York time, on the first of each new month, and the beginning of each week, the weekly charts open as well. So if you can be near your charts around that time, 5:00, 6:00, 7:00, 8:00, 9:00, 10:00 PM, New York time, depending on what that time is for you, that's going to be the ideal time to go and look at your charts for the daily charts.

Spend 10 -15 minutes once a day

Now I can scan through the daily charts using all the forex pairs, and now we also look at indices, cryptos and commodities, and I can go through all the daily charts in around 10, 15 minutes. And I do that now on a regular daily basis. But also you don't have to trade just the daily timeframes at that time. You see, at that same time of day, I then go through and look at the 12 hour charts, the eight hour charts, the six hour and the four hour. So you can scan all those four timeframe charts plus the daily. At the beginning of each week, you can do the weekly as well. And that gives you so many opportunities.

Now, realistically, you can do all of that, completely, easily in under 30 minutes a day. Absolutely.]]>326falsefullhttps://www.spreaker.com/episode/441-planning-your-trading-year-to-ensure-success--48317667
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#441: Planning Your Trading Year to Ensure Success
In this video:
00:24 – The first video for 2022 – Making this a good trading year
01:23 – What are you going to do differently this year?
02:37 – Providing a template to help achieve trading goals
03:19 – Trading with Prop firms
04:22 – What size account should you have to start trading?
04:51 – Which FX broker do I recommend?
06:15 – Trading in 2022 is off to a great start

What will you be doing differently this year to ensure that your trading is better than last year? Have you got a plan? Let's talk about that, and more, right now.

Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 441, the first video and podcast for 2022.

The first video for 2022 – Making this a good trading year

So welcome back, hope you've had a good Christmas and New Year break. And now that we're into trading for the year, I just wanted to discuss a few things to help you into this year. You see, you heard the phrase doing the same thing over and over again and expecting a different result or a different outcome is basically the definition of insanity. It's a common phrase, I'm sure you heard it. And it's very true. And it's exactly the same when it comes to trading. Now,

if 2021, or before, was not good for you, doing the same thing this year moving into 2022, and we're already getting into mid January now already, doing the same thing and expecting a different result is obviously not going to end well, it's the definition of insanity.

What are you going to do differently this year?

So what is it that you're going to do differently? What have you done so far this year to create a plan, a trading plan, a realistic trading plan as well, trading goals as well? And again, make it realistic. Look at what you did last year that was good. What did you do last year that was not good? What do you need to change? Whether it be with the way that you trade, your strategy, your mental approach, your business approach to it, your position sizing, timeframes that you trade, directions that you trade, all those type of things. Timeframe charts, when you trade, what's realistic for you around other things that you do in your life? So you need to sit down and come up with a plan, and plan to succeed. Because if you don't, then the year's just going to disappear. As I mentioned, we're already midway through January already, and if you don't do anything, we're going to be into February, March, April, and you're going to go, "Oh my goodness, another year's disappearing on me and I'm still getting bad results." So a really good opportune time now, in early January, to sit down and have a good think about that.

Providing a template to help achieve trading goals

We did exactly this last night on our live webinar with our clients. And we provide them with a template and I shared my exact trading goals and my trading plan, when I'm going to trade, when I'm not trading, what happens if I get a run of bad trades, what happens if I see setups that are against the daily direction, all those type of things, what am I going to do at those times? And so having all that written down, not so much set in concrete, but at least that you've got it written down that you know that if something happens,]]>https://theforextradingcoach.com/?p=14399Sun, 16 Jan 2022 10:55:15 +0000Andrew MitchemPlanning Your Trading Year to Ensure Success  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #441: Planning Your Trading Year to Ensure Success In this video: 00:24 –...
Podcast:

Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#441: Planning Your Trading Year to Ensure Success
In this video:
00:24 – The first video for 2022 – Making this a good trading year
01:23 – What are you going to do differently this year?
02:37 – Providing a template to help achieve trading goals
03:19 – Trading with Prop firms
04:22 – What size account should you have to start trading?
04:51 – Which FX broker do I recommend?
06:15 – Trading in 2022 is off to a great start

What will you be doing differently this year to ensure that your trading is better than last year? Have you got a plan? Let's talk about that, and more, right now.

Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 441, the first video and podcast for 2022.

The first video for 2022 – Making this a good trading year

So welcome back, hope you've had a good Christmas and New Year break. And now that we're into trading for the year, I just wanted to discuss a few things to help you into this year. You see, you heard the phrase doing the same thing over and over again and expecting a different result or a different outcome is basically the definition of insanity. It's a common phrase, I'm sure you heard it. And it's very true. And it's exactly the same when it comes to trading. Now,

if 2021, or before, was not good for you, doing the same thing this year moving into 2022, and we're already getting into mid January now already, doing the same thing and expecting a different result is obviously not going to end well, it's the definition of insanity.

What are you going to do differently this year?

So what is it that you're going to do differently? What have you done so far this year to create a plan, a trading plan, a realistic trading plan as well, trading goals as well? And again, make it realistic. Look at what you did last year that was good. What did you do last year that was not good? What do you need to change? Whether it be with the way that you trade, your strategy, your mental approach, your business approach to it, your position sizing, timeframes that you trade, directions that you trade, all those type of things. Timeframe charts, when you trade, what's realistic for you around other things that you do in your life? So you need to sit down and come up with a plan, and plan to succeed. Because if you don't, then the year's just going to disappear. As I mentioned, we're already midway through January already, and if you don't do anything, we're going to be into February, March, April, and you're going to go, "Oh my goodness, another year's disappearing on me and I'm still getting bad results." So a really good opportune time now, in early January, to sit down and have a good think about that.

Providing a template to help achieve trading goals

We did exactly this last night on our live webinar with our clients. And we provide them with a template and I shared my exact trading goals and my trading plan, when I'm going to trade, when I'm not trading, what happens if I get a run of bad trades, what happens if I see setups that are against the daily direction, all those type of things, what am I going to do at those times? And so having all that written down, not so much set in concrete, but at least that you've got it written down that you know that if something happens,]]>423falsefullhttps://www.spreaker.com/episode/440-reviewing-the-year-of-2021-and-trading-in-2022--47983649
Podcast:

Find out more about Blueberry Markets – Click Here
#440: Reviewing the Year of 2021 and Trading in 2022
In this video:
00:29 – Overview for 2021
00:57 – The situation in New Zealand and why I love trading
02:32 – Importing, holiday travellers, and rental properties
03:40 – Trading Cryptos
04:22 – Our year at TFTC
06:02 – The changes we’ve made in 2021
08:05 – Our Daily chart trade performance results
09:12 – Looking forward to trading in 2022
10:03 – Thank you for your support this year
11:03 – Have a wonderful Christmas and New Year break

How was 2021 for you? Let's do a review of the year, and find out how we can make 2022 an even better year. Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 440.

Overview for 2021

This is the last video and podcast for the year. Just wanted to have a bit of a reflection just in general and trading wise of how the year has been. A lot of people around the world obviously still affected by the C-word, the virus is still causing issue. A lot of people obviously still can't travel, can't move around the place.

The situation in New Zealand and why I love trading

Here in New Zealand, just really bad things happening. Government mandates, a lot of people lost jobs, a lot of restrictions, a lot of division, a lot of mental health issues. A lot of families being split by opinions for vaccination and not vaccination. Kids can't do a lot of sports if they're not vaccinated. All these really, really bad things going on.

When it comes back to thinking about trading, I consider myself so fortunate that luckily... It all affects me, but I don't have to consider it for my day-to-day work, my job, being self-employed and working online. And I know it's not just New Zealand that has these issues going on right now, it's obviously affecting a large part of the world, and forever changing government rules and mandates and you can wear a mask and you can't, then you should then you shouldn't. It's just crazy what's happening. But it comes back to, for me, one of those massive benefits of why I'm very fortunate and consider myself very lucky to trade from home and to trade the Forex market. Because you can carry on and do what we've always done. All these new changes don't really affect us too much in a day-to-day work environment, anyway.

Importing, holiday travellers, and rental properties

So the other thing that I noticed that's happening a lot, especially here in a country like New Zealand when we're very isolated and very dependent on important, very dependent on overseas travellers, is that we still now for two years in a row have virtually zero overseas travellers here. So that's affecting people like with hotels and rentals and holiday accommodation and helicopter companies and hire car companies, and all these different people that I know that are just badly, badly affected. We can't travel ourselves anywhere because you just cannot get back into the country, even if you could get out.

So those are issues are around. Interest rates are rising. Inflation's going up, and that's happening right around the world as well. And so all of that comes back to, again, the Forex market and how good it is. So I don't want this to be a doom and gloom review of the year. But I want it to be this is the reality of what's happening for a lot of people around the world. But also why the Forex market is a good option for so many people to consider.

Trading Cryptos

Now,]]>https://theforextradingcoach.com/?p=14359Sun, 19 Dec 2021 10:55:45 +0000Andrew MitchemReviewing the Year of 2021 and Trading in 2022  Podcast: Find out more about Blueberry Markets – Click Here #440: Reviewing the Year of 2021 and Trading in 2022 In this video: 00:29 – Overview for 2021 00:57 – The situation in New Zealand and...
Podcast:

Find out more about Blueberry Markets – Click Here
#440: Reviewing the Year of 2021 and Trading in 2022
In this video:
00:29 – Overview for 2021
00:57 – The situation in New Zealand and why I love trading
02:32 – Importing, holiday travellers, and rental properties
03:40 – Trading Cryptos
04:22 – Our year at TFTC
06:02 – The changes we’ve made in 2021
08:05 – Our Daily chart trade performance results
09:12 – Looking forward to trading in 2022
10:03 – Thank you for your support this year
11:03 – Have a wonderful Christmas and New Year break

How was 2021 for you? Let's do a review of the year, and find out how we can make 2022 an even better year. Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 440.

Overview for 2021

This is the last video and podcast for the year. Just wanted to have a bit of a reflection just in general and trading wise of how the year has been. A lot of people around the world obviously still affected by the C-word, the virus is still causing issue. A lot of people obviously still can't travel, can't move around the place.

The situation in New Zealand and why I love trading

Here in New Zealand, just really bad things happening. Government mandates, a lot of people lost jobs, a lot of restrictions, a lot of division, a lot of mental health issues. A lot of families being split by opinions for vaccination and not vaccination. Kids can't do a lot of sports if they're not vaccinated. All these really, really bad things going on.

When it comes back to thinking about trading, I consider myself so fortunate that luckily... It all affects me, but I don't have to consider it for my day-to-day work, my job, being self-employed and working online. And I know it's not just New Zealand that has these issues going on right now, it's obviously affecting a large part of the world, and forever changing government rules and mandates and you can wear a mask and you can't, then you should then you shouldn't. It's just crazy what's happening. But it comes back to, for me, one of those massive benefits of why I'm very fortunate and consider myself very lucky to trade from home and to trade the Forex market. Because you can carry on and do what we've always done. All these new changes don't really affect us too much in a day-to-day work environment, anyway.

Importing, holiday travellers, and rental properties

So the other thing that I noticed that's happening a lot, especially here in a country like New Zealand when we're very isolated and very dependent on important, very dependent on overseas travellers, is that we still now for two years in a row have virtually zero overseas travellers here. So that's affecting people like with hotels and rentals and holiday accommodation and helicopter companies and hire car companies, and all these different people that I know that are just badly, badly affected. We can't travel ourselves anywhere because you just cannot get back into the country, even if you could get out.

So those are issues are around. Interest rates are rising. Inflation's going up, and that's happening right around the world as well. And so all of that comes back to, again, the Forex market and how good it is. So I don't want this to be a doom and gloom review of the year. But I want it to be this is the reality of what's happening for a lot of people around the world. But also why the Forex market is a good option for so many people to consider.

Trading Cryptos

Now,]]>723falsefullhttps://www.spreaker.com/episode/439-what-to-look-for-when-choosing-a-forex-broker--47895197
Podcast:

Find out more about Blueberry Markets – Click Here
#439: What to look for when choosing a Forex Broker
In this video:
00:26 – I’m joined by Ben Clay at Blueberry Markets
01:15 – What should you look for when choosing a new Forex broker?
04:46 – How easy is it to add and withdraw funds
06:40 – How safe are the funds?
07:30 – How long have Blueberry Markets been operating?
08:20 – What trading platforms do you use?
09:20 – Can I trade Crypto’s with Blueberry Markets?
10:47 – Will you be adding even more tradable products?
11:58 – Do your charts open the new day at 5pm EST New York time?
13:20 – What makes Blueberry Markets different from the others?

Andrew Mitchem:
What should you look for when you are searching for a new forex broker? Let's that talk about that and more, right now.

Andrew Mitchem:
Hey traders, Andrew Mitchem here, at The Forex Trading Coach with video and podcast number 439.

I’m joined by Ben Clay at Blueberry Markets

Andrew Mitchem:
In today's video and podcast, something a little bit different for you. We're joined here by Ben Clay over Blueberry Markets to talk about brokers, what to look for and what you should look at for when you're deciding to choose a new broker. Ben, welcome along. Good to have you here.

Ben Clay:
Thank you very much, Andrew. Always a pleasure.

Andrew Mitchem:
Good to see you. I think Ben, it's been about a year since we had our last catch-up like this. Looking forward to lots of developments and exciting things happening out there with Blueberry.

Ben Clay:
As am I, thank you very much.

Andrew Mitchem:
Now good stuff. Ben, last week, I asked some of our listeners to ask a group of questions really, that they have always wanted to ask a broker. I said, "I've asked them on their behalf as we were having this catch-up." I've got some questions here. I'd like to run through them with you.

What should you look for when choosing a new Forex broker?

The first thing someone said, what are some of the things that they should be looking for? What are the things they should be mindful of when they're out there searching for a new broker? Obviously, there's so many brokers out there online. They all claim to be good. They all claim to be legit. What is it that maybe just give us a list of some of the things that they should look for?

Ben Clay:
Yeah, absolutely. For me, personally, the first thing that I'm always looking at is reputation.

Andrew Mitchem:
Yes.

Ben Clay:
What the public is saying about that broker, online reviews, do your absolute diligence when it comes to searching and looking through the reviews. Usually, you're going to find that there'll obviously be some poor reviews out there for every broker. You get a pretty good idea when you look through the whole catalogue of what people are saying about them.

Andrew Mitchem:
Right.

Ben Clay:
Next, I would say licencing and where the broker is regulated, that's always going to be a very important one. There are some good brokers out there, who don't have regulation. That's not to say that they're all bad, but when a broker's regulated that gives the client some protection, at the end of the day. There's someone they can go speak to if they're not happy with the resolution from the broker. That's very important because things do go wrong,]]>https://theforextradingcoach.com/?p=14348Sun, 12 Dec 2021 10:55:03 +0000Andrew MitchemWhat to look for when choosing a Forex Broker  Podcast: Find out more about Blueberry Markets – Click Here #439: What to look for when choosing a Forex Broker In this video: 00:26 – I’m joined by Ben Clay at Blueberry Markets 01:15 – What...
Podcast:

Find out more about Blueberry Markets – Click Here
#439: What to look for when choosing a Forex Broker
In this video:
00:26 – I’m joined by Ben Clay at Blueberry Markets
01:15 – What should you look for when choosing a new Forex broker?
04:46 – How easy is it to add and withdraw funds
06:40 – How safe are the funds?
07:30 – How long have Blueberry Markets been operating?
08:20 – What trading platforms do you use?
09:20 – Can I trade Crypto’s with Blueberry Markets?
10:47 – Will you be adding even more tradable products?
11:58 – Do your charts open the new day at 5pm EST New York time?
13:20 – What makes Blueberry Markets different from the others?

Andrew Mitchem:
What should you look for when you are searching for a new forex broker? Let's that talk about that and more, right now.

Andrew Mitchem:
Hey traders, Andrew Mitchem here, at The Forex Trading Coach with video and podcast number 439.

I’m joined by Ben Clay at Blueberry Markets

Andrew Mitchem:
In today's video and podcast, something a little bit different for you. We're joined here by Ben Clay over Blueberry Markets to talk about brokers, what to look for and what you should look at for when you're deciding to choose a new broker. Ben, welcome along. Good to have you here.

Ben Clay:
Thank you very much, Andrew. Always a pleasure.

Andrew Mitchem:
Good to see you. I think Ben, it's been about a year since we had our last catch-up like this. Looking forward to lots of developments and exciting things happening out there with Blueberry.

Ben Clay:
As am I, thank you very much.

Andrew Mitchem:
Now good stuff. Ben, last week, I asked some of our listeners to ask a group of questions really, that they have always wanted to ask a broker. I said, "I've asked them on their behalf as we were having this catch-up." I've got some questions here. I'd like to run through them with you.

What should you look for when choosing a new Forex broker?

The first thing someone said, what are some of the things that they should be looking for? What are the things they should be mindful of when they're out there searching for a new broker? Obviously, there's so many brokers out there online. They all claim to be good. They all claim to be legit. What is it that maybe just give us a list of some of the things that they should look for?

Ben Clay:
Yeah, absolutely. For me, personally, the first thing that I'm always looking at is reputation.

Andrew Mitchem:
Yes.

Ben Clay:
What the public is saying about that broker, online reviews, do your absolute diligence when it comes to searching and looking through the reviews. Usually, you're going to find that there'll obviously be some poor reviews out there for every broker. You get a pretty good idea when you look through the whole catalogue of what people are saying about them.

Andrew Mitchem:
Right.

Ben Clay:
Next, I would say licencing and where the broker is regulated, that's always going to be a very important one. There are some good brokers out there, who don't have regulation. That's not to say that they're all bad, but when a broker's regulated that gives the client some protection, at the end of the day. There's someone they can go speak to if they're not happy with the resolution from the broker. That's very important because things do go wrong,]]>986falsefullhttps://www.spreaker.com/episode/438-reading-a-book-will-only-get-you-so-far--47792494
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here to Learn More About the Course
#437: How to Easily Calculate Your Position
In this video:
00:29 – You need more than just theory from a book
01:06 - What our clients get out of our live weekly webinars
03:19 – Another example from my experience of flying
05:02 – Send me your questions for the brokers
06:23 – Trading and Flying in real time

Reading a book about trading will only get you so far. In order to learn how to trade correctly for yourself in real time, you need much more. Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 438.

You need more than just theory from a book

Now, when you read books, you're only going to get so much information. Sure, they can be good to give you some good background information, some grounding, understanding what to look for and candle patterns, that type of thing. But in order to trade correctly, independently, and in real time, you need something more. And that's why here at The Forex Trading Coach we offer our clients our live two-hour trading room webinars every week. I hold the European session, and Paul Tillman, who works with me in the U.S., holds the U.S. session the following week.

What our clients get out of our live weekly webinars

When our clients attend those sessions, they get something really special out of all of them. You see, because they're live, they're not pre-planned, they're not scripted in terms of knowing what's going to happen. We are not covering up trades that maybe don't work. All those kind of things that you could kind of think elsewhere would probably happen. Because they're live, they real time, we're talking about trading, we're seeing trades, and we're taking trades. That's how you can then learn. Because, you have to do this for yourself. You have to put the theory into practise and have chart time and real-time thinking time in order to do this properly. And that's the beauty of the webinars. Because, we really encourage our clients to interact with us on those sessions. They're real time so we don't know what's going to happen. If we see a trade set up, of course, we go, "Yeah, I'm taking the trade." We don't know whether it's going to be a profitable trade or losing trade because it's real time.

But, what the client gets out of it is our thought process, our understanding, the mental sort of structure that we go through in terms of analysing a chart and seeing a trade in real time and taking it and why we're taking it. And that's the bit that's invaluable. You see, you can do that and practise that and follow along in real time whilst watching the webinar, and it gets you into that mentality of what to look for, what to do, in order to make yourself a successful and independent trader. Now, sure, we have ways that our clients can follow us and copy what we're doing in terms of our daily trades, things like that, things that we post on our forum site, but the webinars are just invaluable because they're all happening right now. You can talk about that, you can discuss it, you can get the whole picture, and that's the key.

And so, by doing that, you're going to make yourself a far better trader, by attending those kind of webinars, and seeing or listening to what we are thinking at the time.

Another example from my experience of flying]]>https://theforextradingcoach.com/?p=14326Sun, 05 Dec 2021 10:55:17 +0000Andrew MitchemReading a Book Will Only Get You So Far  Podcast: Click Here To Learn More About Blueberry Markets Click Here to Learn More About the Course #437: How to Easily Calculate Your Position In this video: 00:29 – You need more than just theory from...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here to Learn More About the Course
#437: How to Easily Calculate Your Position
In this video:
00:29 – You need more than just theory from a book
01:06 - What our clients get out of our live weekly webinars
03:19 – Another example from my experience of flying
05:02 – Send me your questions for the brokers
06:23 – Trading and Flying in real time

Reading a book about trading will only get you so far. In order to learn how to trade correctly for yourself in real time, you need much more. Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 438.

You need more than just theory from a book

Now, when you read books, you're only going to get so much information. Sure, they can be good to give you some good background information, some grounding, understanding what to look for and candle patterns, that type of thing. But in order to trade correctly, independently, and in real time, you need something more. And that's why here at The Forex Trading Coach we offer our clients our live two-hour trading room webinars every week. I hold the European session, and Paul Tillman, who works with me in the U.S., holds the U.S. session the following week.

What our clients get out of our live weekly webinars

When our clients attend those sessions, they get something really special out of all of them. You see, because they're live, they're not pre-planned, they're not scripted in terms of knowing what's going to happen. We are not covering up trades that maybe don't work. All those kind of things that you could kind of think elsewhere would probably happen. Because they're live, they real time, we're talking about trading, we're seeing trades, and we're taking trades. That's how you can then learn. Because, you have to do this for yourself. You have to put the theory into practise and have chart time and real-time thinking time in order to do this properly. And that's the beauty of the webinars. Because, we really encourage our clients to interact with us on those sessions. They're real time so we don't know what's going to happen. If we see a trade set up, of course, we go, "Yeah, I'm taking the trade." We don't know whether it's going to be a profitable trade or losing trade because it's real time.

But, what the client gets out of it is our thought process, our understanding, the mental sort of structure that we go through in terms of analysing a chart and seeing a trade in real time and taking it and why we're taking it. And that's the bit that's invaluable. You see, you can do that and practise that and follow along in real time whilst watching the webinar, and it gets you into that mentality of what to look for, what to do, in order to make yourself a successful and independent trader. Now, sure, we have ways that our clients can follow us and copy what we're doing in terms of our daily trades, things like that, things that we post on our forum site, but the webinars are just invaluable because they're all happening right now. You can talk about that, you can discuss it, you can get the whole picture, and that's the key.

And so, by doing that, you're going to make yourself a far better trader, by attending those kind of webinars, and seeing or listening to what we are thinking at the time.

Another example from my experience of flying]]>428falsefullhttps://www.spreaker.com/episode/437-how-to-easily-calculate-your-position--47690145
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here to Download my Free Lot Size Calculator
#437: How to Easily Calculate Your Position
In this video:
00:23 – Most traders do not understand lot/position sizing
00:45 – The way most people trade
01:43 – Each pair pays a different amount per pip
02:36 – I’ve made it easy and quick for you
03:00 – How the heart and the mind affect your trading
05:15 – High reward:risk trading strategy
06:40 – Download the calculator today
06:57 – Are you looking for a good Forex broker?

What lot size or position size should you take on all of your trades? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 437.

Most traders do not understand lot/position sizing

Now unfortunately most traders out there do not understand the importance of position sizing or lot sizing. They don't understand the importance, they don't understand how to do it, and they don't really understand why they should do it. But if you don't understand that, it's going to make a huge negative effect on your trading. And let me explain what I mean.

The way most people trade

You see, most people focus on making pips and they really don't understand the importance of low risk controlled trading. And someone would generally place a trade, it doesn't matter what the currency pair, what the timeframe chart, what the size of the stop-loss is, it doesn't matter what their own currency account is. They'll just place a trade at one standard lot per trade, or 0.1 or 0.01 depending on the size of your account. But they'll just go and place the same lot size on every trade. In fact, most people will just go and place the same stop-loss on every trade regardless of the trade or the market conditions or anything. And when you think about that it's just utter madness. Why would you do any of those? But that is probably what 90% of all traders out there are likely going to be doing.

Now if you're listening to this thinking, "Yeah that's what I do." Then you really need to listen to this next bit because it's highly important.

Each pair pays a different amount per pip

You see the issue with the Forex pairs is that each currency pair has a different payout per pip. It depends on what the currency is. It also depends on what your account denomination is. So if you've got a US Dollar account, then your payout per pip, let's say the Euro/US Dollar, will be different to my account that may be in New Zealand Dollars, or someone else's account that may be in Euros or Pounds or Canadian Dollars. It's all different. So you really need to understand that.

Now the problem is, for most people that's just too difficult to work out. It's like this sort of big calculation that you need to figure out. So most people don't do that. They'll just go, oh I'm just going to put 0.1 lots on this trade. And the next trade? I'm just going to put 0.1 lots on the trade. That's the problem.

I’ve made it easy and quick for you

Now I've made it very easy for you. I have a free lot size calculator that works on MT4 and MT5. Just select the right one, by the way, when you download it. It's freely available on my website. I'll put a link to it on this video and podcast post so you can find it. If you don't have it, definitely download it. It is invaluable and you should be using it on ...]]>https://theforextradingcoach.com/?p=14317Sun, 28 Nov 2021 10:55:31 +0000Andrew MitchemHow to Easily Calculate Your Position  Podcast: Click Here To Learn More About Blueberry Markets Click Here to Download my Free Lot Size Calculator #437: How to Easily Calculate Your Position In this video: 00:23 – Most traders do not understand...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here to Download my Free Lot Size Calculator
#437: How to Easily Calculate Your Position
In this video:
00:23 – Most traders do not understand lot/position sizing
00:45 – The way most people trade
01:43 – Each pair pays a different amount per pip
02:36 – I’ve made it easy and quick for you
03:00 – How the heart and the mind affect your trading
05:15 – High reward:risk trading strategy
06:40 – Download the calculator today
06:57 – Are you looking for a good Forex broker?

What lot size or position size should you take on all of your trades? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 437.

Most traders do not understand lot/position sizing

Now unfortunately most traders out there do not understand the importance of position sizing or lot sizing. They don't understand the importance, they don't understand how to do it, and they don't really understand why they should do it. But if you don't understand that, it's going to make a huge negative effect on your trading. And let me explain what I mean.

The way most people trade

You see, most people focus on making pips and they really don't understand the importance of low risk controlled trading. And someone would generally place a trade, it doesn't matter what the currency pair, what the timeframe chart, what the size of the stop-loss is, it doesn't matter what their own currency account is. They'll just place a trade at one standard lot per trade, or 0.1 or 0.01 depending on the size of your account. But they'll just go and place the same lot size on every trade. In fact, most people will just go and place the same stop-loss on every trade regardless of the trade or the market conditions or anything. And when you think about that it's just utter madness. Why would you do any of those? But that is probably what 90% of all traders out there are likely going to be doing.

Now if you're listening to this thinking, "Yeah that's what I do." Then you really need to listen to this next bit because it's highly important.

Each pair pays a different amount per pip

You see the issue with the Forex pairs is that each currency pair has a different payout per pip. It depends on what the currency is. It also depends on what your account denomination is. So if you've got a US Dollar account, then your payout per pip, let's say the Euro/US Dollar, will be different to my account that may be in New Zealand Dollars, or someone else's account that may be in Euros or Pounds or Canadian Dollars. It's all different. So you really need to understand that.

Now the problem is, for most people that's just too difficult to work out. It's like this sort of big calculation that you need to figure out. So most people don't do that. They'll just go, oh I'm just going to put 0.1 lots on this trade. And the next trade? I'm just going to put 0.1 lots on the trade. That's the problem.

I’ve made it easy and quick for you

Now I've made it very easy for you. I have a free lot size calculator that works on MT4 and MT5. Just select the right one, by the way, when you download it. It's freely available on my website. I'll put a link to it on this video and podcast post so you can find it. If you don't have it, definitely download it. It is invaluable and you should be using it on ...]]>474falsefullhttps://www.spreaker.com/episode/436-can-you-trade-non-forex-markets--47583773
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here to Learn more About my Course
#436: Can You Trade Non-Forex Markets?
In this video:
00:28 – Trading Non-FX pairs
01:02 – Getting into exotics, cryptos, commodities and indices
01:45 – Clients enjoy trading the same strategy but on new markets
02:15 – Trades taken and posted on our sites recently
03:11 – Lots of new opportunities now available
03:38 – The same money management principles still apply

Let's talk about non-Forex markets. Can you trade them? How do they work? And can you use the same strategy? Let's talk about that and more right now.

Hey, Forex traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 436.

Trading Non-FX pairs

Now I want to talk about trading non-Forex pairs, because it's something that we've been getting into a lot here at The Forex Trading Coach. And I'm talking about things like indices, commodities, and cryptos. But go back to the beginning: do we trade them? Yes, we do now. But we've not done that for a very long time, and the reason is we are The Forex Trading Coach. So therefore naturally we've been focusing on Forex pairs because the Forex markets offers us so many great opportunities. We've got different currency pairs, different timeframe charts, and it's worked absolutely fantastically.

Getting into exotics, cryptos, commodities and indices

Now a little while ago we've gone into a few more of what we call the exotic pairs, things like the Swedish Krona, South African Rand, Singapore Dollar. Some of those more sort of minor exotic pairs. And they still do work, there's great opportunities on them. The downside is though that some of those exotic pairs tend to have quite wild and wide spreads at times over the day when the market's not that active. And that can become sort of negative for trading some of those more exotic pairs.

So what we've done is as more and more of the MT4 and MT5 brokers around the world have offered a larger variety of markets, we've got into those as well.

Clients enjoy trading the same strategy but on new markets

And a lot of our clients are loving trading these different markets, because the thing is the strategy that we trade and teach works across them as well. And why does it work? Well, because it's based on sound principles and price action and candle patterns and all the other things that we put together, support resistance. And the beauty is it doesn't really matter what Forex pair you trade or what market you trade, the strategy works. Because the pattern is the pattern is the pattern. And you know, give you some examples.

Trades taken and posted on our sites recently

This week I've taken a trade, and we put all of these trades I'm about to mention have been on our membership site and forum site, I've got a trade on the US 200 on the index there as a buy trade on a daily chart. And that's worked absolutely beautiful. We had last week trades on the ASX 200, the JP 225 that was this Monday. Last week HK Hong Kong 50. We've had trades posted just yesterday on six hour charts on our forum site on UK and US oil. Today, I've taken a trade on gold, and last week we had trades on copper, Bitcoin, and Ethereum. So it's just in the last two weeks.

So it just shows the opportunities out there. And that is because the strategy works because it's good,]]>https://theforextradingcoach.com/?p=14311Sun, 21 Nov 2021 10:55:39 +0000Andrew MitchemCan You Trade Non-Forex Markets?  Podcast: Click Here To Learn More About Blueberry Markets Click Here to Learn more About my Course #436: Can You Trade Non-Forex Markets? In this video: 00:28 – Trading Non-FX pairs 01:02 – Getting into exotics,...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here to Learn more About my Course
#436: Can You Trade Non-Forex Markets?
In this video:
00:28 – Trading Non-FX pairs
01:02 – Getting into exotics, cryptos, commodities and indices
01:45 – Clients enjoy trading the same strategy but on new markets
02:15 – Trades taken and posted on our sites recently
03:11 – Lots of new opportunities now available
03:38 – The same money management principles still apply

Let's talk about non-Forex markets. Can you trade them? How do they work? And can you use the same strategy? Let's talk about that and more right now.

Hey, Forex traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 436.

Trading Non-FX pairs

Now I want to talk about trading non-Forex pairs, because it's something that we've been getting into a lot here at The Forex Trading Coach. And I'm talking about things like indices, commodities, and cryptos. But go back to the beginning: do we trade them? Yes, we do now. But we've not done that for a very long time, and the reason is we are The Forex Trading Coach. So therefore naturally we've been focusing on Forex pairs because the Forex markets offers us so many great opportunities. We've got different currency pairs, different timeframe charts, and it's worked absolutely fantastically.

Getting into exotics, cryptos, commodities and indices

Now a little while ago we've gone into a few more of what we call the exotic pairs, things like the Swedish Krona, South African Rand, Singapore Dollar. Some of those more sort of minor exotic pairs. And they still do work, there's great opportunities on them. The downside is though that some of those exotic pairs tend to have quite wild and wide spreads at times over the day when the market's not that active. And that can become sort of negative for trading some of those more exotic pairs.

So what we've done is as more and more of the MT4 and MT5 brokers around the world have offered a larger variety of markets, we've got into those as well.

Clients enjoy trading the same strategy but on new markets

And a lot of our clients are loving trading these different markets, because the thing is the strategy that we trade and teach works across them as well. And why does it work? Well, because it's based on sound principles and price action and candle patterns and all the other things that we put together, support resistance. And the beauty is it doesn't really matter what Forex pair you trade or what market you trade, the strategy works. Because the pattern is the pattern is the pattern. And you know, give you some examples.

Trades taken and posted on our sites recently

This week I've taken a trade, and we put all of these trades I'm about to mention have been on our membership site and forum site, I've got a trade on the US 200 on the index there as a buy trade on a daily chart. And that's worked absolutely beautiful. We had last week trades on the ASX 200, the JP 225 that was this Monday. Last week HK Hong Kong 50. We've had trades posted just yesterday on six hour charts on our forum site on UK and US oil. Today, I've taken a trade on gold, and last week we had trades on copper, Bitcoin, and Ethereum. So it's just in the last two weeks.

So it just shows the opportunities out there. And that is because the strategy works because it's good,]]>315falsefullhttps://www.spreaker.com/episode/435-how-to-scan-through-your-charts-quickly--47357867
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here to Signup for the Upcoming Black Friday Sale
#434: How to Scan Through Your Charts Quickly
In this video:
00:26 – Today’s Topics
01:00 – How to quickly scan through your charts
01:55 – A candle pattern off a Bollinger band
03:03 – A Continuation trade
04:31 – When to scan your charts
05:14 – Who would you suggest as a broker?
05:55 – Register for our Black Friday Sale (it’s 1 week early on Friday 19th November)
07:07 – Don’t forget to share this video and podcast

I'm going to share with you some tricks and secrets of how to scan through your charts really quickly, to save yourself time on the change of a candle. Let's talk about that and more, right now.

Hey, forex traders, it's Andrew Mitchem here. I'm the owner of the Forex Trading Coach.

Today’s Topics

And I'm going to explain to you how you can look through your charts really quickly and to identify potential new trade setups. More about that shortly.

At the end of the video I'm also going to explain about our upcoming Black Friday sale, which we've got in a few weeks time. So if you've been looking at joining us, that could be a great opportunity for you to save a fortune on joining us with the crazy low prices that we'll be offering for Black Friday. More about that shortly though. So back to the trading.

How to quickly scan through your charts

So a question that a lot of people have is they say, "How can you scan through charts really quickly and identify high probability trade setups?"

So a question like that came through from Mark this week and I said, look, I'd cover that on a video and podcast for him. And for me, it's quite simple, the market can either move up, down or sideways. It cannot really do anything else. And with my strategy, it's also relatively simple. So we're either looking for reversal trades or continuation trades. And that's it really. It really is as simple as that. There's two different ways of trading. And to help me identify what part of the chart the price is in right now, and whether it's likely to be a reversal or a continuation trade, I use Bollinger Bands. Standard Bollinger Bands have an upper band, a middle band and a lower band.

A candle pattern off a Bollinger band

And if I see a candle pattern and setup that I'm looking for, that's coming off either the upper band or the lower band, then for me, that's a reversal signal.

And what I mean by that is let's say the price is near the upper Bollinger Band and you've had a good, strong up trend, and then you see the reversal signal. So like a bearish outside bar or engulfing candle, and it looks like the price is then going to drop. If it comes off that upper Bollinger Band area, after a prior trend, then quite likely the price is going to reverse. The opposite of that being if you've had a good, strong down trend and then you see a good strong bullish candle off the bottom Bollinger Band, that's a likely reversal. Now, not every time you get that, it's going to be a trade setup. We're looking for other things like prior exhaustion bounces a round numbers, pivot points, trendline breaks, all the other things that we look for. But just in terms of identifying what part of the chart you're in right now, a Bollinger Band can be an extremely powerful and useful, easy to see tool. So, really scanning through charts instantly, that will help you.]]>https://theforextradingcoach.com/?p=14290Sun, 07 Nov 2021 10:55:18 +0000Andrew MitchemHow to Scan Through Your Charts Quickly  Podcast: Click Here To Learn More About Blueberry Markets Click Here to Signup for the Upcoming Black Friday Sale #434: How to Scan Through Your Charts Quickly In this video: 00:26 – Today’s Topics 01:00 –...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here to Signup for the Upcoming Black Friday Sale
#434: How to Scan Through Your Charts Quickly
In this video:
00:26 – Today’s Topics
01:00 – How to quickly scan through your charts
01:55 – A candle pattern off a Bollinger band
03:03 – A Continuation trade
04:31 – When to scan your charts
05:14 – Who would you suggest as a broker?
05:55 – Register for our Black Friday Sale (it’s 1 week early on Friday 19th November)
07:07 – Don’t forget to share this video and podcast

I'm going to share with you some tricks and secrets of how to scan through your charts really quickly, to save yourself time on the change of a candle. Let's talk about that and more, right now.

Hey, forex traders, it's Andrew Mitchem here. I'm the owner of the Forex Trading Coach.

Today’s Topics

And I'm going to explain to you how you can look through your charts really quickly and to identify potential new trade setups. More about that shortly.

At the end of the video I'm also going to explain about our upcoming Black Friday sale, which we've got in a few weeks time. So if you've been looking at joining us, that could be a great opportunity for you to save a fortune on joining us with the crazy low prices that we'll be offering for Black Friday. More about that shortly though. So back to the trading.

How to quickly scan through your charts

So a question that a lot of people have is they say, "How can you scan through charts really quickly and identify high probability trade setups?"

So a question like that came through from Mark this week and I said, look, I'd cover that on a video and podcast for him. And for me, it's quite simple, the market can either move up, down or sideways. It cannot really do anything else. And with my strategy, it's also relatively simple. So we're either looking for reversal trades or continuation trades. And that's it really. It really is as simple as that. There's two different ways of trading. And to help me identify what part of the chart the price is in right now, and whether it's likely to be a reversal or a continuation trade, I use Bollinger Bands. Standard Bollinger Bands have an upper band, a middle band and a lower band.

A candle pattern off a Bollinger band

And if I see a candle pattern and setup that I'm looking for, that's coming off either the upper band or the lower band, then for me, that's a reversal signal.

And what I mean by that is let's say the price is near the upper Bollinger Band and you've had a good, strong up trend, and then you see the reversal signal. So like a bearish outside bar or engulfing candle, and it looks like the price is then going to drop. If it comes off that upper Bollinger Band area, after a prior trend, then quite likely the price is going to reverse. The opposite of that being if you've had a good, strong down trend and then you see a good strong bullish candle off the bottom Bollinger Band, that's a likely reversal. Now, not every time you get that, it's going to be a trade setup. We're looking for other things like prior exhaustion bounces a round numbers, pivot points, trendline breaks, all the other things that we look for. But just in terms of identifying what part of the chart you're in right now, a Bollinger Band can be an extremely powerful and useful, easy to see tool. So, really scanning through charts instantly, that will help you.]]>438falsefullhttps://www.spreaker.com/episode/434-how-much-money-do-you-need-to-invest-in-the-forex-market--47243801
Podcast:

Click Here to attend the New Traders Webinar (Less than 6 months Experience)
Click Here to attend the Experienced Traders Webinar (More than 6 months Experience)
Click Here To Learn More About Blueberry Markets
#434: How Much Money Do You Need to Invest in the Forex Market
In this video:
00:24 – How much should I invest?
00:50– When I started trading
01:25 – You don’t need a lot of money but you do need to learn how to trade
02:30 – Take a look at Blueberry Markets
03:20 – How do I make a living from my trading?
04:07 – Trading with a Prop firm
04:50 – Other ways to earn income from your trading
05:50 – Get onto one of my free webinars to learn more
06:33 – Feel free to share this video and podcast

How much money do you really need to invest in the Forex market to make it worthwhile? Let's talk about that and more, right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 434.

How much should I invest?

I got asked a question this week by a guy in the US and he said to me, "Andrew, how much money should I really need to be investing into the Forex market to make it worthwhile? To make my time worthwhile to do this?" And it's an interesting question, because most people think you need a large amount of cash in order to be a good trader, in order to make it worthwhile.

When I started trading

And when I started trading some 17 years ago, I thought I would need like hundreds of thousands of dollars. And because I lived in New Zealand, I thought that I would need to put like a $100,000.00 on the New Zealand/US dollar and wait for it to rise or fall, and let's say it was at 70 cents wait for it to rise to 75 cents, take that money out and then go and do the same thing again. That's what I thought Forex trading was. And I think a lot of people do the same thing; they think you need a large amount of money, large amount of capital, in order to make any significant gains.

You don’t need a lot of money but you do need to learn how to trade

Now, the great news is the reality is far from that, it's the complete opposite. You don't need a lot of money, but what you do need to do is learn how to trade properly. With that, you need to realise that there's two things that affect you with your trading: one is your head, and the other's your heart basically your emotions. And if you can control your emotions by having very low-risk trades and high reward to risk trades, things you hear me talking about all the time, the great thing about the Forex market is you use leverage. With leverage, you only need small movements but you need to have good, consistent, steady gains with low risk and low draw down. So small losses lead, reasonably large gains. That's the key to making your trading work. You need a strategy to actually be able to do that.

Then when you look to live with real money, I suggest somewhere between $1,000.00 and $5,000.00 or pounds depending on where you live in the world. And there's lots of other ways that you can make money through your trading, and I'll talk about that shortly. But one thing that I would strongly suggest if you are at that stage where you're ready to go to real money to a live account.]]>https://theforextradingcoach.com/?p=14280Sun, 31 Oct 2021 11:55:33 +0000Andrew MitchemHow Much Money Do You Need to Invest in the Forex Market  Podcast: Click Here to attend the New Traders Webinar (Less than 6 months Experience) Click Here to attend the Experienced Traders Webinar (More than 6 months Experience) Click Here To...
Podcast:

Click Here to attend the New Traders Webinar (Less than 6 months Experience)
Click Here to attend the Experienced Traders Webinar (More than 6 months Experience)
Click Here To Learn More About Blueberry Markets
#434: How Much Money Do You Need to Invest in the Forex Market
In this video:
00:24 – How much should I invest?
00:50– When I started trading
01:25 – You don’t need a lot of money but you do need to learn how to trade
02:30 – Take a look at Blueberry Markets
03:20 – How do I make a living from my trading?
04:07 – Trading with a Prop firm
04:50 – Other ways to earn income from your trading
05:50 – Get onto one of my free webinars to learn more
06:33 – Feel free to share this video and podcast

How much money do you really need to invest in the Forex market to make it worthwhile? Let's talk about that and more, right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 434.

How much should I invest?

I got asked a question this week by a guy in the US and he said to me, "Andrew, how much money should I really need to be investing into the Forex market to make it worthwhile? To make my time worthwhile to do this?" And it's an interesting question, because most people think you need a large amount of cash in order to be a good trader, in order to make it worthwhile.

When I started trading

And when I started trading some 17 years ago, I thought I would need like hundreds of thousands of dollars. And because I lived in New Zealand, I thought that I would need to put like a $100,000.00 on the New Zealand/US dollar and wait for it to rise or fall, and let's say it was at 70 cents wait for it to rise to 75 cents, take that money out and then go and do the same thing again. That's what I thought Forex trading was. And I think a lot of people do the same thing; they think you need a large amount of money, large amount of capital, in order to make any significant gains.

You don’t need a lot of money but you do need to learn how to trade

Now, the great news is the reality is far from that, it's the complete opposite. You don't need a lot of money, but what you do need to do is learn how to trade properly. With that, you need to realise that there's two things that affect you with your trading: one is your head, and the other's your heart basically your emotions. And if you can control your emotions by having very low-risk trades and high reward to risk trades, things you hear me talking about all the time, the great thing about the Forex market is you use leverage. With leverage, you only need small movements but you need to have good, consistent, steady gains with low risk and low draw down. So small losses lead, reasonably large gains. That's the key to making your trading work. You need a strategy to actually be able to do that.

Then when you look to live with real money, I suggest somewhere between $1,000.00 and $5,000.00 or pounds depending on where you live in the world. And there's lots of other ways that you can make money through your trading, and I'll talk about that shortly. But one thing that I would strongly suggest if you are at that stage where you're ready to go to real money to a live account.]]>413falsefullhttps://www.spreaker.com/episode/433-it-never-rains-but-it-pours--47125814
Podcast:

Click Here to attend the New Traders Webinar (Less than 6 months Experience)
Click Here to attend the Experienced Traders Webinar (More than 6 months Experience)
Click Here To Learn More About Blueberry Markets
#433: It Never Rains but It Pours
In this video:
00:23 – Common phrases and trading Forex
00:55 – Trading becomes boring, and you make mistakes
01:27 – 2 perfect examples from this week’s trading
02:37 – This week’s Daily trades
03:24 – Just be patient and wait for the setups
04:07 – Trade when the conditions are good
04:52 – Take a look at Blueberry Markets
05:36 – Get onto one of my free webinars to learn more

You've heard the saying, "It never rains, but it pours." The same happens in trading. Let me explain what I mean right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 433.

Common phrases and trading Forex

I want to talk about a couple of analogies you may have heard of. You've heard the phrase, "It never rains, but it pours." You've heard the phrase, "May hay while the sun shines." They are exactly applicable when it comes to trading. What I mean by that is you have to wait for the right trading conditions. Now as traders sometimes that can be our downfall, and it's a big mistake that so many people make and fall into that trap.

Trading becomes boring, and you make mistakes

You see when you're not trading it's pretty much boring. You're not doing anything, and the issue then becomes is you start breaking your rules. You start forcing things to happen that you should really do. You start taking B-grade set ups, simply because you want to take something. It's very hard to force yourself not to do that. But if you can get yourself to trade the conditions of when the high quality trade setups show, you will without doubt do so much better from your trading.

2 perfect examples from this week’s trading

Now just this week, I've got two perfect examples to share with you. So last night, Thursday night my time, I held our live weekly client's webinar; a two hour live session where we trade live. I trade the European session. The following week Paul Tillman trades the US session and then back to the European session with me the week after. So last night, not a lot happened for the first hour and 50 minutes. Now we were covering previous trades, we were discussing trades that a few people had open and some very good trades. We were showing some good weekly and monthly chart trades. We had lots happening, but nothing really was going on live in the market.

Then leading up to the end of the session where we look at the 12 hour and six hour and four hour and two hour charts, we took one six hour chart trade and three on the 12 hour. Two of those hit profit already, and two are still open and in excellent profit. So nothing happened in terms of live real trades in the market for almost all of that session until then end, and then there was lots happening.

This week’s Daily trades

This week on the daily charts, we've had the same thing. Up until Thursdays, from Monday to Thursday, we posted just one trade. Now, most days we trade between about one and three daily charts. But up until Thursday, for four days of this week,]]>https://theforextradingcoach.com/?p=14272Sun, 24 Oct 2021 11:55:24 +0000Andrew MitchemIt Never Rains but It Pours  Podcast: Click Here to attend the New Traders Webinar (Less than 6 months Experience) Click Here to attend the Experienced Traders Webinar (More than 6 months Experience) Click Here To Learn More About Blueberry...
Podcast:

Click Here to attend the New Traders Webinar (Less than 6 months Experience)
Click Here to attend the Experienced Traders Webinar (More than 6 months Experience)
Click Here To Learn More About Blueberry Markets
#433: It Never Rains but It Pours
In this video:
00:23 – Common phrases and trading Forex
00:55 – Trading becomes boring, and you make mistakes
01:27 – 2 perfect examples from this week’s trading
02:37 – This week’s Daily trades
03:24 – Just be patient and wait for the setups
04:07 – Trade when the conditions are good
04:52 – Take a look at Blueberry Markets
05:36 – Get onto one of my free webinars to learn more

You've heard the saying, "It never rains, but it pours." The same happens in trading. Let me explain what I mean right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 433.

Common phrases and trading Forex

I want to talk about a couple of analogies you may have heard of. You've heard the phrase, "It never rains, but it pours." You've heard the phrase, "May hay while the sun shines." They are exactly applicable when it comes to trading. What I mean by that is you have to wait for the right trading conditions. Now as traders sometimes that can be our downfall, and it's a big mistake that so many people make and fall into that trap.

Trading becomes boring, and you make mistakes

You see when you're not trading it's pretty much boring. You're not doing anything, and the issue then becomes is you start breaking your rules. You start forcing things to happen that you should really do. You start taking B-grade set ups, simply because you want to take something. It's very hard to force yourself not to do that. But if you can get yourself to trade the conditions of when the high quality trade setups show, you will without doubt do so much better from your trading.

2 perfect examples from this week’s trading

Now just this week, I've got two perfect examples to share with you. So last night, Thursday night my time, I held our live weekly client's webinar; a two hour live session where we trade live. I trade the European session. The following week Paul Tillman trades the US session and then back to the European session with me the week after. So last night, not a lot happened for the first hour and 50 minutes. Now we were covering previous trades, we were discussing trades that a few people had open and some very good trades. We were showing some good weekly and monthly chart trades. We had lots happening, but nothing really was going on live in the market.

Then leading up to the end of the session where we look at the 12 hour and six hour and four hour and two hour charts, we took one six hour chart trade and three on the 12 hour. Two of those hit profit already, and two are still open and in excellent profit. So nothing happened in terms of live real trades in the market for almost all of that session until then end, and then there was lots happening.

This week’s Daily trades

This week on the daily charts, we've had the same thing. Up until Thursdays, from Monday to Thursday, we posted just one trade. Now, most days we trade between about one and three daily charts. But up until Thursday, for four days of this week,]]>374falsefullhttps://www.spreaker.com/episode/432-becoming-your-own-boss--47015736
Podcast:

Click Here To Learn More About Our 5 Star Rated Forex Course
Click Here To Learn More About Blueberry Markets
#432: Becoming Your Own Boss
In this video:
00:30 – I’ve received a lot of emails from people who might be losing their jobs
01:17 - A lot of new rules around the world about mandates
02:02 – You should consider trading Forex
03:22 – I’m serious about trading and how to I made a decent return?
04:54 – What the prop firms want
06:22 – You need to know what you are doing first
06:42 – The mini course will re-open in 1 month from now
07:35 – It’s only going to get worse for many people

I want to talk about why you should maybe look at considering being your own boss, and learning how to trade Forex properly. It's very topical right now and very important. Let's get into it right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 432.

I’ve received a lot of emails from people who might be losing their jobs

Came outside today, it's a beautiful day out here. I want to talk about... I've just been receiving a lot of emails. You might think it's a controversial subject, you may not. But I think it's important to discuss it because not many people are. It's all about what's happening around the world right now with COVID injections, vaccinations. Not only that, it's more the knock-on effect of what's happening with so many people with these jobs being mandated that people need to be vaccinated. I'm not here to debate the vaccine; I've got my own opinions. But as a trader, I think it's important because so many people have been emailing me saying, "Andrew, I'm potentially losing my job."

A lot of new rules around the world about mandates

Here in New Zealand especially, and it sounds like Australia as well, a lot of rules are coming in that people will be losing jobs if they're not double vaccinated.

Like I said, I'm not here to be pro or against it. What I am here to say is that it's probably the choice that people are finding that they're going to be without that's for me probably more the issue. The choice to do what they want and how it affects their jobs. So that comes back to why I've probably been receiving so many emails over the last week or two as it's becoming more and more prominent. And it comes back to...

You should consider trading Forex

I've said to these people you've got to consider something like trading. But don't just do it just because it's a quick fix, because it's not a quick fix. Don't think that you're going to sit at home and be lazy all day and get up when you want. It's not that at all. You have to work hard at it. It's hard. There's ups, there's downs, there's good times, there's not so good times. Like anything. But it does allow you to have some more control and freedom and to be your own boss.

I think that's the point that a lot of people around the world right now that people are picking up on, the extra value of trading. Getting away from some of the more traditional lines of work where you are told what to do and when to do it. I think that's one of the beauties that trading offers. Like I said, it's not easy. It takes effort, it takes hard work, it takes dedication. If you think you're just going to waltz into trading and suddenly become a multimillionaire by this time next year forget it. You're in the wrong choice. Or certainly don't come knocking on our door,]]>https://theforextradingcoach.com/?p=14264Sun, 17 Oct 2021 11:55:31 +0000Andrew MitchemBecoming Your Own Boss  Podcast: Click Here To Learn More About Our 5 Star Rated Forex Course Click Here To Learn More About Blueberry Markets #432: Becoming Your Own Boss In this video: 00:30 – I’ve received a lot of emails from people who might...
Podcast:

Click Here To Learn More About Our 5 Star Rated Forex Course
Click Here To Learn More About Blueberry Markets
#432: Becoming Your Own Boss
In this video:
00:30 – I’ve received a lot of emails from people who might be losing their jobs
01:17 - A lot of new rules around the world about mandates
02:02 – You should consider trading Forex
03:22 – I’m serious about trading and how to I made a decent return?
04:54 – What the prop firms want
06:22 – You need to know what you are doing first
06:42 – The mini course will re-open in 1 month from now
07:35 – It’s only going to get worse for many people

I want to talk about why you should maybe look at considering being your own boss, and learning how to trade Forex properly. It's very topical right now and very important. Let's get into it right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 432.

I’ve received a lot of emails from people who might be losing their jobs

Came outside today, it's a beautiful day out here. I want to talk about... I've just been receiving a lot of emails. You might think it's a controversial subject, you may not. But I think it's important to discuss it because not many people are. It's all about what's happening around the world right now with COVID injections, vaccinations. Not only that, it's more the knock-on effect of what's happening with so many people with these jobs being mandated that people need to be vaccinated. I'm not here to debate the vaccine; I've got my own opinions. But as a trader, I think it's important because so many people have been emailing me saying, "Andrew, I'm potentially losing my job."

A lot of new rules around the world about mandates

Here in New Zealand especially, and it sounds like Australia as well, a lot of rules are coming in that people will be losing jobs if they're not double vaccinated.

Like I said, I'm not here to be pro or against it. What I am here to say is that it's probably the choice that people are finding that they're going to be without that's for me probably more the issue. The choice to do what they want and how it affects their jobs. So that comes back to why I've probably been receiving so many emails over the last week or two as it's becoming more and more prominent. And it comes back to...

You should consider trading Forex

I've said to these people you've got to consider something like trading. But don't just do it just because it's a quick fix, because it's not a quick fix. Don't think that you're going to sit at home and be lazy all day and get up when you want. It's not that at all. You have to work hard at it. It's hard. There's ups, there's downs, there's good times, there's not so good times. Like anything. But it does allow you to have some more control and freedom and to be your own boss.

I think that's the point that a lot of people around the world right now that people are picking up on, the extra value of trading. Getting away from some of the more traditional lines of work where you are told what to do and when to do it. I think that's one of the beauties that trading offers. Like I said, it's not easy. It takes effort, it takes hard work, it takes dedication. If you think you're just going to waltz into trading and suddenly become a multimillionaire by this time next year forget it. You're in the wrong choice. Or certainly don't come knocking on our door,]]>507falsefullhttps://www.spreaker.com/episode/431-client-makes-a-40-account-gain-in-september--46908545
Podcast:

Click Here To Learn More About Our Mini Course
Click Here To Learn More About Blueberry Markets
#431: Client Makes a 40% Account Gain in September
In this video:
00:31 – This week’s content
00:54 – A client makes a 40.05% live account gain in September
04:23 – Trading at a Prop firm to make great passive income
05:35 – Our TFTC Mini Course is now live
07:01 – Take a look at Blueberry Markets if you want a good broker
08:30 – Share and Like this Video

I want to explain how one of our clients made an incredible 40% gain on his live account in September with just a 6.3% drawdown. Let's talk about that more right now.

Hey, folks, traders. It's Andrew Mitchem and I'm the owner of the The Forex Trading Coach. This is video and podcast number 431.

This week’s content

Lots to cover on this week's video and podcast. We want to talk about the guy who's just made 40% on his account in September. I also want to introduce you to our new mini course that has just gone live on Facebook and give you an opportunity to join that for this week only with a 50% discount for new people onto that course.

A client makes a 40.05% live account gain in September

But let's start with the exciting news that I following on from last week's video on podcast about the client called Brett, who is in South Africa. He made a 40.05% account gain on his live account, quite extraordinary. But I've been through all of his trades. They're actually opened here behind me, sent me a screenshot of his MT4 account, all the trades, the profits and losses. I went through them and the biggest drawdown he's had there was a 6.3% drawdown, quite extraordinary. Very low controlled risk.

He said to me he only trades once, sometimes twice a day, and that's the 5 PM New York close of day, where he looks at the beginning of the week the weekly charts each day of the daily and the 12 hour charts. So that's going to take him what, 10, 15 minutes once a day. Then a few days in the week, generally Tuesday, Wednesday, Thursday, he'll look at the 5 AM changeover as well. So he's looking just twice a day, absolute maximum half an hour per day and he's made a massive 40% gain.

Now, he's mentioned when he emailed me a couple things that have just really changed things for him. Number one, he did some one-on-one tuition with Paul Tillman. Paul has been working with me for quite a number of years. He teaches our clients one on one online. He also holds the live U.S. webinars for me every second week and he also moderates the forum site. An incredible trader, fantastic coach, great way of explaining everything. Brett's taken some tuition with Paul and he said that was just fantastic, money well spent just to get to that next level.

He's also using our Place Fibo Order Script, which is a script for MT4 and MT5 that he literally drag onto the chart. It places your entry and exit levels with retracements, profits, et cetera, controlled risk. Makes placing a trade absolutely simple. No calculating lot sizes, no worrying about does this stop in the right place, or if you move it, do you move your position size or anything like that. It just does everything for you. It's a fantastic script.

He also mentioned the value that he has placed in our interactive videos that are on our membership site. So our interactive videos are videos where one of our clients, Nick who lives over in Dubai has made them for us.]]>https://theforextradingcoach.com/?p=14251Sun, 10 Oct 2021 11:55:39 +0000Andrew MitchemClient Makes a 40% Account Gain in September  Podcast: Click Here To Learn More About Our Mini Course Click Here To Learn More About Blueberry Markets #431: Client Makes a 40% Account Gain in September In this video: 00:31 – This week’s content...
Podcast:

Click Here To Learn More About Our Mini Course
Click Here To Learn More About Blueberry Markets
#431: Client Makes a 40% Account Gain in September
In this video:
00:31 – This week’s content
00:54 – A client makes a 40.05% live account gain in September
04:23 – Trading at a Prop firm to make great passive income
05:35 – Our TFTC Mini Course is now live
07:01 – Take a look at Blueberry Markets if you want a good broker
08:30 – Share and Like this Video

I want to explain how one of our clients made an incredible 40% gain on his live account in September with just a 6.3% drawdown. Let's talk about that more right now.

Hey, folks, traders. It's Andrew Mitchem and I'm the owner of the The Forex Trading Coach. This is video and podcast number 431.

This week’s content

Lots to cover on this week's video and podcast. We want to talk about the guy who's just made 40% on his account in September. I also want to introduce you to our new mini course that has just gone live on Facebook and give you an opportunity to join that for this week only with a 50% discount for new people onto that course.

A client makes a 40.05% live account gain in September

But let's start with the exciting news that I following on from last week's video on podcast about the client called Brett, who is in South Africa. He made a 40.05% account gain on his live account, quite extraordinary. But I've been through all of his trades. They're actually opened here behind me, sent me a screenshot of his MT4 account, all the trades, the profits and losses. I went through them and the biggest drawdown he's had there was a 6.3% drawdown, quite extraordinary. Very low controlled risk.

He said to me he only trades once, sometimes twice a day, and that's the 5 PM New York close of day, where he looks at the beginning of the week the weekly charts each day of the daily and the 12 hour charts. So that's going to take him what, 10, 15 minutes once a day. Then a few days in the week, generally Tuesday, Wednesday, Thursday, he'll look at the 5 AM changeover as well. So he's looking just twice a day, absolute maximum half an hour per day and he's made a massive 40% gain.

Now, he's mentioned when he emailed me a couple things that have just really changed things for him. Number one, he did some one-on-one tuition with Paul Tillman. Paul has been working with me for quite a number of years. He teaches our clients one on one online. He also holds the live U.S. webinars for me every second week and he also moderates the forum site. An incredible trader, fantastic coach, great way of explaining everything. Brett's taken some tuition with Paul and he said that was just fantastic, money well spent just to get to that next level.

He's also using our Place Fibo Order Script, which is a script for MT4 and MT5 that he literally drag onto the chart. It places your entry and exit levels with retracements, profits, et cetera, controlled risk. Makes placing a trade absolutely simple. No calculating lot sizes, no worrying about does this stop in the right place, or if you move it, do you move your position size or anything like that. It just does everything for you. It's a fantastic script.

He also mentioned the value that he has placed in our interactive videos that are on our membership site. So our interactive videos are videos where one of our clients, Nick who lives over in Dubai has made them for us.]]>526falsefullhttps://www.spreaker.com/episode/430-look-left-look-right-and-then-look-at-your-profits--46800706
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Learn More About The Course
#430: Look Left, Look Right and then Look at Your Profits
In this video:
00:25 – How looking left and right will make you safer
00:58 - Don’t only look to the right
03:23 – Blueberry Markets receive great feedback
04:11 – Client makes +40% in the month by risking just 0.5% per trade
05:31 – Please share this video

When you're trading, you need to look left, then look right, and then look at your profits. Let's talk about that more, right now.

Hey there, traders. It is Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 430.

How looking left and right will make you safer

And I want to talk about looking left, then looking right, and then looking at your profits. What do I mean by that? Well, as a child, we're always taught by our parents, aren't we, to look left and then look right before you're crossing the road or anything like that? And it prevents you from having problems. And in trading it's exactly the same, yet nobody does it, or very few people do it. Our clients do it because we teach them how to do this. And we talked about this on a correspondence with all our clients just this week, and we had really good feedback. So I wanted to share this whole concept with you.

Don’t only look to the right

 And in your trading, most of us look at the right-hand side of the chart, because that's where you take a new trade from. You're looking at the price level. You're looking at the candle pattern, maybe whatever indicator you're using, but most people look at the right-hand side of the chart. But what a lot of people don't do is they don't look then across to the left-hand side of the chart and see what's already happened, because that can give you an even higher quality trade signal, or it can prevent you from taking a trade that may look okay, but has some obvious previous price action back to the left-hand side, that should make you not take that trade.

Now, when you look back to the left or right, you're looking at support and resistance levels, looking at swing highs, where's the price previously bounced at? Have I got enough reason here for my trade to be able to get in a buy trade up to its profit target? Are there any levels back to the left-hand side or ran numbers, previous areas where the price has hit that might actually prevent my price or my trade from getting to its full profit target? Likewise, you can use price action back to the left, to look at swing lows, let's say, or swing highs, and now we've come and bounced at that level and formed our bullish candle, looking for our by trade. So again, you've got a reason why your setup's good. You've got a reason why your profit target should be good to get to your profit target, but also you can use that same principle back to the left. Look at previous swing highs and lows and ran numbers to see, have you got any protection for your stop loss?

Because the trade's not just about seeing the good setup, it's about saying, well, this may be a good setup, but it could take you out as a stop loss first and then go and hit your profit target. Of course that's no good. So what is in the favour of this trade in terms of our stop loss being protected, to allow the trade to develop over time, to then get to our profit target. So all these things you can use. So looking left and looking right,]]>https://theforextradingcoach.com/?p=14233Sun, 03 Oct 2021 11:55:44 +0000Andrew MitchemLook Left, Look Right and then Look at Your Profits  Podcast: Click Here To Learn More About Blueberry Markets Click Here To Learn More About The Course #430: Look Left, Look Right and then Look at Your Profits In this video: 00:25 – How looking...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Learn More About The Course
#430: Look Left, Look Right and then Look at Your Profits
In this video:
00:25 – How looking left and right will make you safer
00:58 - Don’t only look to the right
03:23 – Blueberry Markets receive great feedback
04:11 – Client makes +40% in the month by risking just 0.5% per trade
05:31 – Please share this video

When you're trading, you need to look left, then look right, and then look at your profits. Let's talk about that more, right now.

Hey there, traders. It is Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 430.

How looking left and right will make you safer

And I want to talk about looking left, then looking right, and then looking at your profits. What do I mean by that? Well, as a child, we're always taught by our parents, aren't we, to look left and then look right before you're crossing the road or anything like that? And it prevents you from having problems. And in trading it's exactly the same, yet nobody does it, or very few people do it. Our clients do it because we teach them how to do this. And we talked about this on a correspondence with all our clients just this week, and we had really good feedback. So I wanted to share this whole concept with you.

Don’t only look to the right

 And in your trading, most of us look at the right-hand side of the chart, because that's where you take a new trade from. You're looking at the price level. You're looking at the candle pattern, maybe whatever indicator you're using, but most people look at the right-hand side of the chart. But what a lot of people don't do is they don't look then across to the left-hand side of the chart and see what's already happened, because that can give you an even higher quality trade signal, or it can prevent you from taking a trade that may look okay, but has some obvious previous price action back to the left-hand side, that should make you not take that trade.

Now, when you look back to the left or right, you're looking at support and resistance levels, looking at swing highs, where's the price previously bounced at? Have I got enough reason here for my trade to be able to get in a buy trade up to its profit target? Are there any levels back to the left-hand side or ran numbers, previous areas where the price has hit that might actually prevent my price or my trade from getting to its full profit target? Likewise, you can use price action back to the left, to look at swing lows, let's say, or swing highs, and now we've come and bounced at that level and formed our bullish candle, looking for our by trade. So again, you've got a reason why your setup's good. You've got a reason why your profit target should be good to get to your profit target, but also you can use that same principle back to the left. Look at previous swing highs and lows and ran numbers to see, have you got any protection for your stop loss?

Because the trade's not just about seeing the good setup, it's about saying, well, this may be a good setup, but it could take you out as a stop loss first and then go and hit your profit target. Of course that's no good. So what is in the favour of this trade in terms of our stop loss being protected, to allow the trade to develop over time, to then get to our profit target. So all these things you can use. So looking left and looking right,]]>343falsefullhttps://www.spreaker.com/episode/429-trading-in-a-covid-world-plus-a-7-5-account-gain-in-a-day--46692225
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Learn More About The Course
#429: Trading in a Covid World, plus a 7.5% Account Gain in a Day
In this video:
00:25 – Everything’s changed with Covid over the past 18 months
01:00 – Debate around masks, vaccines, lockdowns and passports
02:28 – Where to from here?
03:48 – Most issues disappear when you trade Forex
04:50 – Trader makes +7.5% gain in a day
06:00 – Are you looking for a good Forex broker?
07:15 – Send me your questions
07:31 – Feel free to share the video and podcast

We're now traders in a COVID world. What does that mean for us as traders going forward, and how can you take advantage of it? Let's talk about that a more right now.

Hey traders, Andrew Mitchem here, the Forex trading coach with video and podcast number 429.

Everything’s changed with Covid over the past 18 months

Well, obviously the last 18 months or so everything's changed for virtually everybody, it doesn't matter where you live in the world with COVID and all the effects of that. And it got me thinking about trading the Forex market and how good it really is and what advantages that we have going forward. I wanted to share some of those with you. And this is for you, it doesn't really matter where you live in the world, it doesn't matter whether you're a business owner, an employee, or an employer. Let me explain what I mean.

Debate around masks, vaccines, lockdowns and passports

So right now there's obviously a lot of debate around the world with masks, with vaccines, with vaccine passports, lockdowns, all those things are still going on, and depending on where you live in the world, different countries, slightly different rules. Here in New Zealand, we're still in lockdown mode. I have no idea why, but we still are. It's badly, badly affecting so many people business wise, emotionally wise, it's not good.

And so if you're, let's say you're a landlord and you own a shop in a town somewhere, anywhere in the world. So obviously, over the last 18 months, it's been lockdowns virtually everywhere, and as a landlord that's going to be pretty tough ind going forward, that's going to be pretty tough because less and less people probably wanting to have cafes and shops, et cetera, in towns.

And so as a landlord, what do you do? If you're the business owner, if you own the shop or the cafe or whatever it might be business in town, you've had lockdowns, you've had people not coming into work, and so you've had that issue. If you're an employee and you work those places, then obviously, for a lot of you, if you cannot work at home, you've been badly affected as well.

Now if that's what's happened, and we can't change a lot of that, but let's have a think about going forward from here.

Where to from here?

Let's face it, most people don't like wearing masks. Personally, I think they're horrible things. I'm very lucky I work from home and I hardly ever have to wear one. Now if you're the sort of person, if you're an employee, you're now going to be having debates over masks, wearing them all day, and now vaccine jabs, and whether you ...

And this is not about pros and cons or saying what my opinion is, my opinion to you doesn't matter. The point is that people are going to get very strongly one way or the other. You might think that masks and vaccines are the a...]]>https://theforextradingcoach.com/?p=14217Sun, 26 Sep 2021 11:55:01 +0000Andrew MitchemTrading in a Covid World, plus a 7.5% Account Gain in a Day  Podcast: Click Here To Learn More About Blueberry Markets Click Here To Learn More About The Course #429: Trading in a Covid World, plus a 7.5% Account Gain in a Day In this video: 00:25...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Learn More About The Course
#429: Trading in a Covid World, plus a 7.5% Account Gain in a Day
In this video:
00:25 – Everything’s changed with Covid over the past 18 months
01:00 – Debate around masks, vaccines, lockdowns and passports
02:28 – Where to from here?
03:48 – Most issues disappear when you trade Forex
04:50 – Trader makes +7.5% gain in a day
06:00 – Are you looking for a good Forex broker?
07:15 – Send me your questions
07:31 – Feel free to share the video and podcast

We're now traders in a COVID world. What does that mean for us as traders going forward, and how can you take advantage of it? Let's talk about that a more right now.

Hey traders, Andrew Mitchem here, the Forex trading coach with video and podcast number 429.

Everything’s changed with Covid over the past 18 months

Well, obviously the last 18 months or so everything's changed for virtually everybody, it doesn't matter where you live in the world with COVID and all the effects of that. And it got me thinking about trading the Forex market and how good it really is and what advantages that we have going forward. I wanted to share some of those with you. And this is for you, it doesn't really matter where you live in the world, it doesn't matter whether you're a business owner, an employee, or an employer. Let me explain what I mean.

Debate around masks, vaccines, lockdowns and passports

So right now there's obviously a lot of debate around the world with masks, with vaccines, with vaccine passports, lockdowns, all those things are still going on, and depending on where you live in the world, different countries, slightly different rules. Here in New Zealand, we're still in lockdown mode. I have no idea why, but we still are. It's badly, badly affecting so many people business wise, emotionally wise, it's not good.

And so if you're, let's say you're a landlord and you own a shop in a town somewhere, anywhere in the world. So obviously, over the last 18 months, it's been lockdowns virtually everywhere, and as a landlord that's going to be pretty tough ind going forward, that's going to be pretty tough because less and less people probably wanting to have cafes and shops, et cetera, in towns.

And so as a landlord, what do you do? If you're the business owner, if you own the shop or the cafe or whatever it might be business in town, you've had lockdowns, you've had people not coming into work, and so you've had that issue. If you're an employee and you work those places, then obviously, for a lot of you, if you cannot work at home, you've been badly affected as well.

Now if that's what's happened, and we can't change a lot of that, but let's have a think about going forward from here.

Where to from here?

Let's face it, most people don't like wearing masks. Personally, I think they're horrible things. I'm very lucky I work from home and I hardly ever have to wear one. Now if you're the sort of person, if you're an employee, you're now going to be having debates over masks, wearing them all day, and now vaccine jabs, and whether you ...

And this is not about pros and cons or saying what my opinion is, my opinion to you doesn't matter. The point is that people are going to get very strongly one way or the other. You might think that masks and vaccines are the a...]]>462falsefullhttps://www.spreaker.com/episode/428-become-an-investor-not-a-follower--46588428
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Signup For the Live Webinar with Ryo
#428: Become an Investor, Not a Follower
In this video:
00:26 – Rich Dad Poor Dad email
02:24 – Unrealistic expectations
03:28 – Live webinar with Ryo Chong – come and learn
05:30 – Where to invest your funds?
06:50 – Register for the webinar on 25th September

I'm going to talk about why you should focus on becoming an investor for yourself and not a follower. Let's talk about that and more, right now.

Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 428.

Rich Dad Poor Dad email

And I have received an email this week from a guy I've been following for years. You probably heard of him, Robert Kiyosaki from Rich Dad, Poor Dad. I've been following him, read all his books and think that he just offers some really good, sound, sensible, common sense advice. I'd like to think that I do the same. But I'd like to read an email and a quote from him that I think relates to so many Forex traders out there, and it's all about investing and why you should learn to invest for yourself. But he asks the questions, do you really want to invest? And what he means by that is, he says that every day he receives emails from people, he talks to people and he says, basically, a lot of people are just too lazy to invest.

And instead, they want him to tell them what to do. And he said, "That's not investing at all, that's just simply following instructions." He goes on to say, "That when people want to invest in something, what they really mean is they want someone else to tell them what to do." And he says, "Do not follow that path, instead, focus on becoming an investor." And it's what I tell people to do all the time. It's what I've been saying on these last 428 videos and podcasts, just like this. And it's great that he says exactly the same thing. Because like he says, he finishes up by saying, "When you are an investor, you know how to choose your own," he's talking about the stock market, but same thing with currencies, "You know how to choose your own stocks. You will know how to determine your profit goals, how to manage your risk, and so much more. When you are an investor, you will possess a life skill that no-one can take away from you."

Now, just think about that for a second. That's so true, isn't it? And that's why I constantly say that good education is the cheapest thing you can do if you want to become a good Forex trader.

Unrealistic expectations

Now, I had a guy email me just this week saying that he's got about a thousand dollars to invest, and he expects out of that to learn from me and make a thousand dollars every week. And it's like, "Do you really think that's going to happen?" And I can bet he will be the sort of guy that all he would want to do is just follow and follow and follow. Now, that's great, and as part of the course, we offer that ability to follow. We post our daily trades, our forum site trades, et cetera, our live webinars, and that's exactly what we do. But leading on from that, our aim as Forex coaches, is to help you become independent profitable Forex traders, whilst learning from us along the journey. And that's part of the community that we have.

But ultimately, in order to invest properly as yourself, you've got to learn to stand on your own two feet and do this properly for you. And that's the difference between someone that makes it an...]]>https://theforextradingcoach.com/?p=14204Sun, 19 Sep 2021 11:55:28 +0000Andrew MitchemBecome an Investor, Not a Follower  Podcast: Click Here To Learn More About Blueberry Markets Click Here To Signup For the Live Webinar with Ryo #428: Become an Investor, Not a Follower In this video: 00:26 – Rich Dad Poor Dad email 02:24 –...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Signup For the Live Webinar with Ryo
#428: Become an Investor, Not a Follower
In this video:
00:26 – Rich Dad Poor Dad email
02:24 – Unrealistic expectations
03:28 – Live webinar with Ryo Chong – come and learn
05:30 – Where to invest your funds?
06:50 – Register for the webinar on 25th September

I'm going to talk about why you should focus on becoming an investor for yourself and not a follower. Let's talk about that and more, right now.

Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 428.

Rich Dad Poor Dad email

And I have received an email this week from a guy I've been following for years. You probably heard of him, Robert Kiyosaki from Rich Dad, Poor Dad. I've been following him, read all his books and think that he just offers some really good, sound, sensible, common sense advice. I'd like to think that I do the same. But I'd like to read an email and a quote from him that I think relates to so many Forex traders out there, and it's all about investing and why you should learn to invest for yourself. But he asks the questions, do you really want to invest? And what he means by that is, he says that every day he receives emails from people, he talks to people and he says, basically, a lot of people are just too lazy to invest.

And instead, they want him to tell them what to do. And he said, "That's not investing at all, that's just simply following instructions." He goes on to say, "That when people want to invest in something, what they really mean is they want someone else to tell them what to do." And he says, "Do not follow that path, instead, focus on becoming an investor." And it's what I tell people to do all the time. It's what I've been saying on these last 428 videos and podcasts, just like this. And it's great that he says exactly the same thing. Because like he says, he finishes up by saying, "When you are an investor, you know how to choose your own," he's talking about the stock market, but same thing with currencies, "You know how to choose your own stocks. You will know how to determine your profit goals, how to manage your risk, and so much more. When you are an investor, you will possess a life skill that no-one can take away from you."

Now, just think about that for a second. That's so true, isn't it? And that's why I constantly say that good education is the cheapest thing you can do if you want to become a good Forex trader.

Unrealistic expectations

Now, I had a guy email me just this week saying that he's got about a thousand dollars to invest, and he expects out of that to learn from me and make a thousand dollars every week. And it's like, "Do you really think that's going to happen?" And I can bet he will be the sort of guy that all he would want to do is just follow and follow and follow. Now, that's great, and as part of the course, we offer that ability to follow. We post our daily trades, our forum site trades, et cetera, our live webinars, and that's exactly what we do. But leading on from that, our aim as Forex coaches, is to help you become independent profitable Forex traders, whilst learning from us along the journey. And that's part of the community that we have.

But ultimately, in order to invest properly as yourself, you've got to learn to stand on your own two feet and do this properly for you. And that's the difference between someone that makes it an...]]>452falsefullhttps://www.spreaker.com/episode/427-how-to-trade-while-on-holiday-vacation--46485486
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Learn More About Echo Trade Copier
Click Here To Learn More About TFTC Pattern Trader
Click Here To Learn More About 1-on-1 Private Online Coaching with Paul Tillman
#427: How to Trade while on Holiday/Vacation
In this video:
00:26 – Trading while away from home
00:53 – Trading in less than 30 minutes a day
02:09 – Amazing feedback about Blueberry Markets
02:48 – Credit offer on our Echo Trade Copier
03:46 – Paul Tillman on holiday/vacation in Florida and trading
04:45 – TFTC Pattern Trader and Echo Trade Copier
05:35 – Get in contact with Paul Tillman regarding one on one tuition

I'm going to talk about how you can trade whilst on holiday or vacation, and show you how Paul Tillman's been doing just that for the last two weeks in Florida. Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 427.

Trading while away from home

That's right. I want to talk about trading while you're away. And Paul's been over in the US trading, with his family on holiday or vacation as they call it, for the last two weeks, spending time at Disney World. And I'm going to cut to a video in a couple of minutes that Paul has made, especially for you. Stood outside of Princess Castle with his Mickey Mouse ears on, making a video just for you, for this week's video and podcast. So we'll get to that shortly.

Trading in less than 30 minutes a day

But the thing I want to cover is he's done that whilst trading in less than 30 minutes per day. And Paul explained how he's done that. And the reason is, is because we only look at the close of a candle for a new trade. Give you a quick example. Wednesday of this week, we posted six trades on our membership site on the daily chats, all in to profit. Four of them have closed for full profit as I'm talking to you right now. Two still open in profit. Yesterday, being Thursday, no daily trades. Happens sometimes. The market was a little bit quieter, but I took a 12 hour and a six hour at the 5:00 PM, New York close, and profit out of those as well. And clients follow these as well, by the way.

Just last night my time, I took five trades on our 12 hour charts at the 5:00 AM Eastern Standard Time, change over, all in profit and it just shows what can be done, but just really it's about less is more. Quality of trades, taking them when you see them, knowing when to look at your charts. When you see the setups, knowing exactly how to enter and exit. It's the same principle. It's low risk trading, but high reward to risk trades.

Amazing feedback about Blueberry Markets

So just wanted to also, before we go to Paul, give a quick shout out for Blueberry Markets over in Australia. The feedback that I've been getting from people who have never traded through them, and now gone through to them over the last few weeks, has been unbelievable, just constantly good feedback. And people don't really compliment brokers, do they? It's very rare. Everybody's quick to moan at a broker, but not many people compliment a broker.]]>https://theforextradingcoach.com/?p=14191Sun, 12 Sep 2021 11:55:31 +0000Andrew MitchemHow to Trade while on Holiday/Vacation  Podcast: Click Here To Learn More About Blueberry Markets Click Here To Learn More About Echo Trade Copier Click Here To Learn More About TFTC Pattern Trader Click Here To Learn More About 1-on-1 Private...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Learn More About Echo Trade Copier
Click Here To Learn More About TFTC Pattern Trader
Click Here To Learn More About 1-on-1 Private Online Coaching with Paul Tillman
#427: How to Trade while on Holiday/Vacation
In this video:
00:26 – Trading while away from home
00:53 – Trading in less than 30 minutes a day
02:09 – Amazing feedback about Blueberry Markets
02:48 – Credit offer on our Echo Trade Copier
03:46 – Paul Tillman on holiday/vacation in Florida and trading
04:45 – TFTC Pattern Trader and Echo Trade Copier
05:35 – Get in contact with Paul Tillman regarding one on one tuition

I'm going to talk about how you can trade whilst on holiday or vacation, and show you how Paul Tillman's been doing just that for the last two weeks in Florida. Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 427.

Trading while away from home

That's right. I want to talk about trading while you're away. And Paul's been over in the US trading, with his family on holiday or vacation as they call it, for the last two weeks, spending time at Disney World. And I'm going to cut to a video in a couple of minutes that Paul has made, especially for you. Stood outside of Princess Castle with his Mickey Mouse ears on, making a video just for you, for this week's video and podcast. So we'll get to that shortly.

Trading in less than 30 minutes a day

But the thing I want to cover is he's done that whilst trading in less than 30 minutes per day. And Paul explained how he's done that. And the reason is, is because we only look at the close of a candle for a new trade. Give you a quick example. Wednesday of this week, we posted six trades on our membership site on the daily chats, all in to profit. Four of them have closed for full profit as I'm talking to you right now. Two still open in profit. Yesterday, being Thursday, no daily trades. Happens sometimes. The market was a little bit quieter, but I took a 12 hour and a six hour at the 5:00 PM, New York close, and profit out of those as well. And clients follow these as well, by the way.

Just last night my time, I took five trades on our 12 hour charts at the 5:00 AM Eastern Standard Time, change over, all in profit and it just shows what can be done, but just really it's about less is more. Quality of trades, taking them when you see them, knowing when to look at your charts. When you see the setups, knowing exactly how to enter and exit. It's the same principle. It's low risk trading, but high reward to risk trades.

Amazing feedback about Blueberry Markets

So just wanted to also, before we go to Paul, give a quick shout out for Blueberry Markets over in Australia. The feedback that I've been getting from people who have never traded through them, and now gone through to them over the last few weeks, has been unbelievable, just constantly good feedback. And people don't really compliment brokers, do they? It's very rare. Everybody's quick to moan at a broker, but not many people compliment a broker.]]>395falsefullhttps://www.spreaker.com/episode/426-why-you-don-t-need-money-to-trade--46384522
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Learn More About Echo Trade Copier
Click Here To Watch Ryo’s Testimonial
Click Here To Learn Check Out FPA reviews
Click Here To Learn More About my TFTC Forex Coaching Course
#426: Why You Don’t Need Money to Trade
In this video:
00:29 – The perception that you need a lot of money to trade
02:46 – I’m looking at starting a lower cost course. Are you interested?
03:54 – Blueberry Markets will extend their Echo Trade Copier offer
05:15 – A new video from Ryo on our Testimonials page
06:09 – Great new reviews on the FPA site
06:52 – Live trades on live webinars, 4/4 Profitable trades
07:52 – Get involved

I'm going to explain to you why you actually don't need money in order to trade properly. Let's talk about that and more, right now.

Hey traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 426.

The perception that you need a lot of money to trade

I've got six things I want to talk to you today about, so lots to cover. First thing is about the common perception that people have. They think they need a lot of money in order to trade. The reality is, you don't. Sure you need to learn how to trade, but in terms of having a massive account size once you know how to trade, you don't need to. A lot of things you can do.

One thing you could do is have a subscription service and sell trading signals, exactly we do for our Echo Trade Copier. You charge $50, $100 a month, and people can follow you automatically and you can build up your account size that way. But another way that a lot of people don't realise is the massive amount of emerging prop firms out there. And what that means is, for some of them they may charge you a small amount to get started, and they may give you then a small amount of funds and you have to prove to them that you can trade by making X percent with the restrictions they have in place, with low draw downs, et cetera.

And then over time, if you're good, they will then increase that amount of capital that they will allow you to trade on their behalf. And then for some of them, there may be a 50/50 split. So if you're something like up to $100,000 account, and of course you could do this on several different firms as well, but let's say you had a $100,000 account, you're making, let's say 10% in a month. What's that? That's $10,000. You're doing a 50/50 split on revenue. You could be $5,000 a month from different prop firms, earning for yourself. And that way, you can then invest that back into your own personal trading fund and trading account and earn on that as well.

So, many ways that you can do it. Don't just think, "Oh, I've got $2,000," or, "I can't do this. I don't have enough in my account." A lot of people say to me, "Hey Andrew, if I bought your course, I don't have any money left in my trading account to trade with." But it's just the wrong way of thinking.]]>https://theforextradingcoach.com/?p=14155Sun, 05 Sep 2021 11:55:31 +0000Andrew MitchemWhy You Don’t Need Money to Trade  Podcast: Click Here To Learn More About Blueberry Markets Click Here To Learn More About Echo Trade Copier Click Here To Watch Ryo’s Testimonial Click Here To Learn Check Out FPA reviews Click Here To Learn...
Podcast:

Click Here To Learn More About Blueberry Markets
Click Here To Learn More About Echo Trade Copier
Click Here To Watch Ryo’s Testimonial
Click Here To Learn Check Out FPA reviews
Click Here To Learn More About my TFTC Forex Coaching Course
#426: Why You Don’t Need Money to Trade
In this video:
00:29 – The perception that you need a lot of money to trade
02:46 – I’m looking at starting a lower cost course. Are you interested?
03:54 – Blueberry Markets will extend their Echo Trade Copier offer
05:15 – A new video from Ryo on our Testimonials page
06:09 – Great new reviews on the FPA site
06:52 – Live trades on live webinars, 4/4 Profitable trades
07:52 – Get involved

I'm going to explain to you why you actually don't need money in order to trade properly. Let's talk about that and more, right now.

Hey traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 426.

The perception that you need a lot of money to trade

I've got six things I want to talk to you today about, so lots to cover. First thing is about the common perception that people have. They think they need a lot of money in order to trade. The reality is, you don't. Sure you need to learn how to trade, but in terms of having a massive account size once you know how to trade, you don't need to. A lot of things you can do.

One thing you could do is have a subscription service and sell trading signals, exactly we do for our Echo Trade Copier. You charge $50, $100 a month, and people can follow you automatically and you can build up your account size that way. But another way that a lot of people don't realise is the massive amount of emerging prop firms out there. And what that means is, for some of them they may charge you a small amount to get started, and they may give you then a small amount of funds and you have to prove to them that you can trade by making X percent with the restrictions they have in place, with low draw downs, et cetera.

And then over time, if you're good, they will then increase that amount of capital that they will allow you to trade on their behalf. And then for some of them, there may be a 50/50 split. So if you're something like up to $100,000 account, and of course you could do this on several different firms as well, but let's say you had a $100,000 account, you're making, let's say 10% in a month. What's that? That's $10,000. You're doing a 50/50 split on revenue. You could be $5,000 a month from different prop firms, earning for yourself. And that way, you can then invest that back into your own personal trading fund and trading account and earn on that as well.

So, many ways that you can do it. Don't just think, "Oh, I've got $2,000," or, "I can't do this. I don't have enough in my account." A lot of people say to me, "Hey Andrew, if I bought your course, I don't have any money left in my trading account to trade with." But it's just the wrong way of thinking.]]>515falsefullhttps://www.spreaker.com/episode/424-making-money-from-the-daily-chart-trades--46191750
Podcast:

Click here to Learn More About my Course
Click here to learn more about Blueberry Markets
#424: Making Money from The Daily Chart Trades
In this video:
00:26 – Lockdowns and how we can trade as normal
01:05 – Follow us trading on the Daily chart trades
01:50 – Posting trades every day of the trading week
03:36 – August D1 trades at +12.1% in 3 weeks
04:20 – Client in Singapore takes 5x H2 chart trades and all 5 hit their profit targets
05:33 – We post MN1, W1, D1 and other time frame chart trades
06:14 – Trading at Blueberry Markets
07:25 – Free access to Echo Trade Copier via Blueberry Markets

I'm going to explain to you how our daily trade suggestions on our membership site are making our clients profitable. Let's talk about that and more, right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 424.

Lockdowns and how we can trade as normal

Coming to you from yet another lockdown in New Zealand. One of the great things with trading is whatever these governments are doing, clearly not working, trading from home it doesn't really matter we can just carry on with our lives. It's a great opportunity if you are stuck at home, obviously Australia's in lockdown again right now and who knows what's happening here because I don't think anybody does, if you ever want to get to a stage where you can forget all that and just enjoy making a really good income from home, Forex is one of those few options that you have.

Follow us trading on the Daily chart trades

So let's talk about the daily trades now. One of the issues that traders have when they start is they don't know really what to do. They lack strategy, they lack confidence. The self-doubt. There's not really a lot of people you can ask when you're developing a strategy or even following someone else's strategy. It becomes a problem, because you start doing things wrong, you start adding things or bringing in a bit of a system that you used to do. It just develops into a big mess, really. Self-doubt comes in and you start losing trades and you give up. You go through the whole cycle again. If you've been trading for anything length of time you know exactly what I mean.

Posting trades every day of the trading week

One of the things that we offer at The Forex Trading Coach, and have done so since 2010, is every day of the trading week, five days a week, we post specific trades based off the daily timeframe charts. Great thing about the daily timeframe charts is it gives us one, two, three trades a day most days. It also means it doesn't matter where you live in the world, you can place the trades. It doesn't matter what timezone, what work commitment, or anything. Whether you're in lockdown or not in lockdown, you can place these trades. We've got clients in 98 countries, active clients in 98 countries, and no one has an issue because of the way that we place the trades using limit orders.

So one of the advantages of that is that you can go to your charts, you can see the trades that we're placing based on our updates each day on our membership site. Now we talk about the specific pair that we're trading, the direction that we're trading, two or three sentences about why we're taking that trade, plus the exact entry and exit levels. Now, it does a number of things. Obviously if we get that right, all the clients earn money. And that's great. We're placing the trades ourselves, and of course we aim to get profitable trades.]]>https://theforextradingcoach.com/?p=14136Sun, 22 Aug 2021 11:55:40 +0000Andrew MitchemMaking Money from The Daily Chart Trades  Podcast: Click here to Learn More About my Course Click here to learn more about Blueberry Markets #424: Making Money from The Daily Chart Trades In this video: 00:26 – Lockdowns and how we can trade as...
Podcast:

Click here to Learn More About my Course
Click here to learn more about Blueberry Markets
#424: Making Money from The Daily Chart Trades
In this video:
00:26 – Lockdowns and how we can trade as normal
01:05 – Follow us trading on the Daily chart trades
01:50 – Posting trades every day of the trading week
03:36 – August D1 trades at +12.1% in 3 weeks
04:20 – Client in Singapore takes 5x H2 chart trades and all 5 hit their profit targets
05:33 – We post MN1, W1, D1 and other time frame chart trades
06:14 – Trading at Blueberry Markets
07:25 – Free access to Echo Trade Copier via Blueberry Markets

I'm going to explain to you how our daily trade suggestions on our membership site are making our clients profitable. Let's talk about that and more, right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 424.

Lockdowns and how we can trade as normal

Coming to you from yet another lockdown in New Zealand. One of the great things with trading is whatever these governments are doing, clearly not working, trading from home it doesn't really matter we can just carry on with our lives. It's a great opportunity if you are stuck at home, obviously Australia's in lockdown again right now and who knows what's happening here because I don't think anybody does, if you ever want to get to a stage where you can forget all that and just enjoy making a really good income from home, Forex is one of those few options that you have.

Follow us trading on the Daily chart trades

So let's talk about the daily trades now. One of the issues that traders have when they start is they don't know really what to do. They lack strategy, they lack confidence. The self-doubt. There's not really a lot of people you can ask when you're developing a strategy or even following someone else's strategy. It becomes a problem, because you start doing things wrong, you start adding things or bringing in a bit of a system that you used to do. It just develops into a big mess, really. Self-doubt comes in and you start losing trades and you give up. You go through the whole cycle again. If you've been trading for anything length of time you know exactly what I mean.

Posting trades every day of the trading week

One of the things that we offer at The Forex Trading Coach, and have done so since 2010, is every day of the trading week, five days a week, we post specific trades based off the daily timeframe charts. Great thing about the daily timeframe charts is it gives us one, two, three trades a day most days. It also means it doesn't matter where you live in the world, you can place the trades. It doesn't matter what timezone, what work commitment, or anything. Whether you're in lockdown or not in lockdown, you can place these trades. We've got clients in 98 countries, active clients in 98 countries, and no one has an issue because of the way that we place the trades using limit orders.

So one of the advantages of that is that you can go to your charts, you can see the trades that we're placing based on our updates each day on our membership site. Now we talk about the specific pair that we're trading, the direction that we're trading, two or three sentences about why we're taking that trade, plus the exact entry and exit levels. Now, it does a number of things. Obviously if we get that right, all the clients earn money. And that's great. We're placing the trades ourselves, and of course we aim to get profitable trades.]]>495falsefullhttps://www.spreaker.com/episode/424-making-money-from-the-daily-chart-trades--46715759
Podcast:

Click here to learn more about Blueberry Markets
#424: Making Money from The Daily Chart Trades
In this video:
00:26 – Lockdowns and how we can trade as normal
01:05 – Follow us trading on the Daily chart trades
01:50 – Posting trades every day of the trading week
03:36 – August D1 trades at +12.1% in 3 weeks
04:20 – Client in Singapore takes 5x H2 chart trades and all 5 hit their profit targets
05:33 – We post MN1, W1, D1 and other time frame chart trades
06:14 – Trading at Blueberry Markets
07:25 – Free access to Echo Trade Copier via Blueberry Markets

I'm going to explain to you how our daily trade suggestions on our membership site are making our clients profitable. Let's talk about that and more, right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 424.

Lockdowns and how we can trade as normal

Coming to you from yet another lockdown in New Zealand. One of the great things with trading is whatever these governments are doing, clearly not working, trading from home it doesn't really matter we can just carry on with our lives. It's a great opportunity if you are stuck at home, obviously Australia's in lockdown again right now and who knows what's happening here because I don't think anybody does, if you ever want to get to a stage where you can forget all that and just enjoy making a really good income from home, Forex is one of those few options that you have.

Follow us trading on the Daily chart trades

So let's talk about the daily trades now. One of the issues that traders have when they start is they don't know really what to do. They lack strategy, they lack confidence. The self-doubt. There's not really a lot of people you can ask when you're developing a strategy or even following someone else's strategy. It becomes a problem, because you start doing things wrong, you start adding things or bringing in a bit of a system that you used to do. It just develops into a big mess, really. Self-doubt comes in and you start losing trades and you give up. You go through the whole cycle again. If you've been trading for anything length of time you know exactly what I mean.

Posting trades every day of the trading week

One of the things that we offer at The Forex Trading Coach, and have done so since 2010, is every day of the trading week, five days a week, we post specific trades based off the daily timeframe charts. Great thing about the daily timeframe charts is it gives us one, two, three trades a day most days. It also means it doesn't matter where you live in the world, you can place the trades. It doesn't matter what timezone, what work commitment, or anything. Whether you're in lockdown or not in lockdown, you can place these trades. We've got clients in 98 countries, active clients in 98 countries, and no one has an issue because of the way that we place the trades using limit orders.

So one of the advantages of that is that you can go to your charts, you can see the trades that we're placing based on our updates each day on our membership site. Now we talk about the specific pair that we're trading, the direction that we're trading, two or three sentences about why we're taking that trade, plus the exact entry and exit levels. Now, it does a number of things. Obviously if we get that right, all the clients earn money. And that's great. We're placing the trades ourselves, and of course we aim to get profitable trades. But the other thing is, and it's often an overlooked part of it, is that is training your eye to actually see the set up. And it's in real time, so we're not hindsight traders,]]>https://theforextradingcoach.com/?p=14222Thu, 19 Aug 2021 22:13:02 +0000Andrew MitchemMaking Money from The Daily Chart Trades  Podcast: Click here to learn more about Blueberry Markets #424: Making Money from The Daily Chart Trades In this video: 00:26 – Lockdowns and how we can trade as normal 01:05 – Follow us trading on the...
Podcast:

Click here to learn more about Blueberry Markets
#424: Making Money from The Daily Chart Trades
In this video:
00:26 – Lockdowns and how we can trade as normal
01:05 – Follow us trading on the Daily chart trades
01:50 – Posting trades every day of the trading week
03:36 – August D1 trades at +12.1% in 3 weeks
04:20 – Client in Singapore takes 5x H2 chart trades and all 5 hit their profit targets
05:33 – We post MN1, W1, D1 and other time frame chart trades
06:14 – Trading at Blueberry Markets
07:25 – Free access to Echo Trade Copier via Blueberry Markets

I'm going to explain to you how our daily trade suggestions on our membership site are making our clients profitable. Let's talk about that and more, right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 424.

Lockdowns and how we can trade as normal

Coming to you from yet another lockdown in New Zealand. One of the great things with trading is whatever these governments are doing, clearly not working, trading from home it doesn't really matter we can just carry on with our lives. It's a great opportunity if you are stuck at home, obviously Australia's in lockdown again right now and who knows what's happening here because I don't think anybody does, if you ever want to get to a stage where you can forget all that and just enjoy making a really good income from home, Forex is one of those few options that you have.

Follow us trading on the Daily chart trades

So let's talk about the daily trades now. One of the issues that traders have when they start is they don't know really what to do. They lack strategy, they lack confidence. The self-doubt. There's not really a lot of people you can ask when you're developing a strategy or even following someone else's strategy. It becomes a problem, because you start doing things wrong, you start adding things or bringing in a bit of a system that you used to do. It just develops into a big mess, really. Self-doubt comes in and you start losing trades and you give up. You go through the whole cycle again. If you've been trading for anything length of time you know exactly what I mean.

Posting trades every day of the trading week

One of the things that we offer at The Forex Trading Coach, and have done so since 2010, is every day of the trading week, five days a week, we post specific trades based off the daily timeframe charts. Great thing about the daily timeframe charts is it gives us one, two, three trades a day most days. It also means it doesn't matter where you live in the world, you can place the trades. It doesn't matter what timezone, what work commitment, or anything. Whether you're in lockdown or not in lockdown, you can place these trades. We've got clients in 98 countries, active clients in 98 countries, and no one has an issue because of the way that we place the trades using limit orders.

So one of the advantages of that is that you can go to your charts, you can see the trades that we're placing based on our updates each day on our membership site. Now we talk about the specific pair that we're trading, the direction that we're trading, two or three sentences about why we're taking that trade, plus the exact entry and exit levels. Now, it does a number of things. Obviously if we get that right, all the clients earn money. And that's great. We're placing the trades ourselves, and of course we aim to get profitable trades. But the other thing is, and it's often an overlooked part of it, is that is training your eye to actually see the set up. And it's in real time, so we're not hindsight traders,]]>495falsefullhttps://www.spreaker.com/episode/423-preparation-is-the-key-to-your-trading-success--46102214
Podcast:

Click here to Learn More About my Course
Click here to learn more about Blueberry Markets
#423: Preparation is the Key to Your Trading Success
In this video:
00:21 – Hard work and preparation pays off
01:47 – It’s the same in learning how to trade
01:59 – The planting of 1500 trees
02:43 – Trading on a demo account – the ups and the downs
04:05 – Once you’ve done the hard work, the rest is the easy part
04:30 – Daily trades up +11% gain in August, plus feedback from a new client
05:30 – Blueberry Markets will fund an annual subscription to Echo Trade Copier
06:50 – Sharing some of the tree planting images
07:46 – You must take action if you want to succeed
08:36 – Contact us if you really want to learn how to trade properly

Some preparation and some hard work up front are the keys to your Forex success. Let me share details with you and explain more right now.

Hey, traders, Andrew here with video and podcast number 423.

Hard work and preparation pays off

Brought you outside. I want to share a few things for you that are non-Forex related and then show you how they blend in and can help you with your trading. So here we are outside and little bit hard to see here, but over the last few months, myself and my wife, we've cleared one of our steep sidling gullies here. I'll show you more in a minute with some more pictures. And this was just scrub. It was just utter rubbish, full of bramble, gos, really high, just full of utter rubbish. We've cleaned it out. We've cleared it. And over the last three weekends, myself and my wife, we have done all the hard work ourselves. We're planted 1,500, that's 1,500 plants here over the last three weeks. It's been hard. It's been dirty. It's been wet. It's been cold at times. The ground's slippery, but we've done all the preparation. We cleared everything first. We did that boring groundwork. And when you're doing that preparation, there's not a lot of reward in it. There's other things you'd rather be doing. Let's face it. But the preparation is key. If you don't get the preparation right, then all the subsequent work that you do with the planting, it's pretty much wasted.

It’s the same in learning how to trade

And when you think about it, trading's exactly the same. If you don't do your groundwork, if you don't learn something properly, if you don't put the time and the dedication into it, then the rest of it's pointless.

The planting of 1500 trees

We then moved on to the planting. Little bit more exciting when you're doing the planting. You can actually see you're making some progress and then we're putting all these covers, to stop rabbits and everything else happening here. So the trees have a good chance of growing, good success rate. Let's see in here. There's heaps of them. There's 1,500 of them here we put in. It's basically restoration of gullies back into native plants, so it's good for the birds, good for the environment, good for the land good for everything really. And it's just totally useless land otherwise.

But the reason why sharing this with you is that once you get into the planting and the trees, you can something happening.

Trading on a demo account – the ups and the downs

And it's a little bit like getting onto a demo account. You start to put things into practise, you can see some action. But the thing is, and I'm going to share with you some of the slopes that we've planted a little bit later,]]>https://theforextradingcoach.com/?p=14128Sun, 15 Aug 2021 11:55:52 +0000Andrew MitchemPreparation is the Key to Your Trading Success  Podcast: Click here to Learn More About my Course Click here to learn more about Blueberry Markets #423: Preparation is the Key to Your Trading Success In this video: 00:21 – Hard work and...
Podcast:

Click here to Learn More About my Course
Click here to learn more about Blueberry Markets
#423: Preparation is the Key to Your Trading Success
In this video:
00:21 – Hard work and preparation pays off
01:47 – It’s the same in learning how to trade
01:59 – The planting of 1500 trees
02:43 – Trading on a demo account – the ups and the downs
04:05 – Once you’ve done the hard work, the rest is the easy part
04:30 – Daily trades up +11% gain in August, plus feedback from a new client
05:30 – Blueberry Markets will fund an annual subscription to Echo Trade Copier
06:50 – Sharing some of the tree planting images
07:46 – You must take action if you want to succeed
08:36 – Contact us if you really want to learn how to trade properly

Some preparation and some hard work up front are the keys to your Forex success. Let me share details with you and explain more right now.

Hey, traders, Andrew here with video and podcast number 423.

Hard work and preparation pays off

Brought you outside. I want to share a few things for you that are non-Forex related and then show you how they blend in and can help you with your trading. So here we are outside and little bit hard to see here, but over the last few months, myself and my wife, we've cleared one of our steep sidling gullies here. I'll show you more in a minute with some more pictures. And this was just scrub. It was just utter rubbish, full of bramble, gos, really high, just full of utter rubbish. We've cleaned it out. We've cleared it. And over the last three weekends, myself and my wife, we have done all the hard work ourselves. We're planted 1,500, that's 1,500 plants here over the last three weeks. It's been hard. It's been dirty. It's been wet. It's been cold at times. The ground's slippery, but we've done all the preparation. We cleared everything first. We did that boring groundwork. And when you're doing that preparation, there's not a lot of reward in it. There's other things you'd rather be doing. Let's face it. But the preparation is key. If you don't get the preparation right, then all the subsequent work that you do with the planting, it's pretty much wasted.

It’s the same in learning how to trade

And when you think about it, trading's exactly the same. If you don't do your groundwork, if you don't learn something properly, if you don't put the time and the dedication into it, then the rest of it's pointless.

The planting of 1500 trees

We then moved on to the planting. Little bit more exciting when you're doing the planting. You can actually see you're making some progress and then we're putting all these covers, to stop rabbits and everything else happening here. So the trees have a good chance of growing, good success rate. Let's see in here. There's heaps of them. There's 1,500 of them here we put in. It's basically restoration of gullies back into native plants, so it's good for the birds, good for the environment, good for the land good for everything really. And it's just totally useless land otherwise.

But the reason why sharing this with you is that once you get into the planting and the trees, you can something happening.

Trading on a demo account – the ups and the downs

And it's a little bit like getting onto a demo account. You start to put things into practise, you can see some action. But the thing is, and I'm going to share with you some of the slopes that we've planted a little bit later,]]>544falsefullhttps://www.spreaker.com/episode/422-it-s-your-choice--46008414
Podcast:

Click here to Learn More About my Course
Click here to learn more about Blueberry Markets
#422: It’s Your Choice
In this video:
00:25 – You have a choice
01:37 – My choice 13 years ago
02:22 – Sharing some of our results with you
03:54 – Our choices helping traders each day
04:20 – Join us for 3 monthly split payments – a 2 day sale this week
04:47 – Who to choose as a broker?

Every second of your life, you have a choice, are you going to move forwards, move backwards, or stay the same? Let's talk about that and more right now.

Hey, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 422.

You have a choice

And we'll talk about an email that I've received this week from somebody who I follow and watch online. And the guy said in his email, he said, "look, you have a choice. Every time you wake up, you have a choice. You choose who to listen to for advice. When you're young, you listen to your parents, your friends, your enemies even. You choose to hit the snooze button on your alarm. You choose to make a certain amount of money. You choose to be angry or you choose to be sad. You choose to basically do everything you like. And that's the great thing, because we all have choices. We're all different.

But the important thing is, if you want to get ahead, you've got to make those right choices. Because like I said at the beginning, do you want to stay where you are? Do you want to move backwards? Which a lot of people are doing, especially right now around the world. Or do you want to be like only the few and not be like the majority and move forward. And it doesn't matter whether that moving forward could be a time freedom, it could be financial freedom, it could be just choosing to be happy. It could be all of them, but I really believe that if you know how to trade the Forex market correctly, you can certainly get all of those and more. And so, like I said, it's all about choice.

My choice 13 years ago

And, for me, 13 years ago, one of the choices I made after I started to become profitable was I was going to create the world's best Forex coaching course, and that was one of my goals.

I think we're pretty close to that. You never stop learning. Everybody's continually learning if you want to go forward, but we have something that works and has helped so many thousands of people. And that was one of my goals, and we continue to do that and we continue to love what we're doing with our own trading and with our coaching. So there's goals all over the place and there's choices all over the place.

Sharing some of our results with you

Now, interestingly enough that what we have on here is that I wanted to share with you a few results from this week because some of the results are going to blow you away. This is just a printout from my daily trade suggestions on Wednesday of last week, the 4th of August. So on here, we posted two trades on the daily charts. One hit the profit target really quickly on the Euro-New Zealand dollar. The second one also made profit, but it took a little bit longer. But on this post on this day, I said to our clients on our forum site, we talked about trades and we posted these in real time, by the way.

Pound-Canadian on the 12 hour chart hit profit target. We had eight hour charts on the franc-yen, euro-Aussie, Pound-yen, Pound-New Zealand, and silver. Made huge profit on those. There was a four hour chart trade posted by one of our clients on the U.S.-franc.]]>https://theforextradingcoach.com/?p=14116Sat, 07 Aug 2021 23:55:28 +0000Andrew MitchemIt’s Your Choice  Podcast: Click here to Learn More About my Course Click here to learn more about Blueberry Markets #422: It’s Your Choice In this video: 00:25 – You have a choice 01:37 – My choice 13 years ago 02:22 – Sharing some of our results...
Podcast:

Click here to Learn More About my Course
Click here to learn more about Blueberry Markets
#422: It’s Your Choice
In this video:
00:25 – You have a choice
01:37 – My choice 13 years ago
02:22 – Sharing some of our results with you
03:54 – Our choices helping traders each day
04:20 – Join us for 3 monthly split payments – a 2 day sale this week
04:47 – Who to choose as a broker?

Every second of your life, you have a choice, are you going to move forwards, move backwards, or stay the same? Let's talk about that and more right now.

Hey, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 422.

You have a choice

And we'll talk about an email that I've received this week from somebody who I follow and watch online. And the guy said in his email, he said, "look, you have a choice. Every time you wake up, you have a choice. You choose who to listen to for advice. When you're young, you listen to your parents, your friends, your enemies even. You choose to hit the snooze button on your alarm. You choose to make a certain amount of money. You choose to be angry or you choose to be sad. You choose to basically do everything you like. And that's the great thing, because we all have choices. We're all different.

But the important thing is, if you want to get ahead, you've got to make those right choices. Because like I said at the beginning, do you want to stay where you are? Do you want to move backwards? Which a lot of people are doing, especially right now around the world. Or do you want to be like only the few and not be like the majority and move forward. And it doesn't matter whether that moving forward could be a time freedom, it could be financial freedom, it could be just choosing to be happy. It could be all of them, but I really believe that if you know how to trade the Forex market correctly, you can certainly get all of those and more. And so, like I said, it's all about choice.

My choice 13 years ago

And, for me, 13 years ago, one of the choices I made after I started to become profitable was I was going to create the world's best Forex coaching course, and that was one of my goals.

I think we're pretty close to that. You never stop learning. Everybody's continually learning if you want to go forward, but we have something that works and has helped so many thousands of people. And that was one of my goals, and we continue to do that and we continue to love what we're doing with our own trading and with our coaching. So there's goals all over the place and there's choices all over the place.

Sharing some of our results with you

Now, interestingly enough that what we have on here is that I wanted to share with you a few results from this week because some of the results are going to blow you away. This is just a printout from my daily trade suggestions on Wednesday of last week, the 4th of August. So on here, we posted two trades on the daily charts. One hit the profit target really quickly on the Euro-New Zealand dollar. The second one also made profit, but it took a little bit longer. But on this post on this day, I said to our clients on our forum site, we talked about trades and we posted these in real time, by the way.

Pound-Canadian on the 12 hour chart hit profit target. We had eight hour charts on the franc-yen, euro-Aussie, Pound-yen, Pound-New Zealand, and silver. Made huge profit on those. There was a four hour chart trade posted by one of our clients on the U.S.-franc.]]>361falsefullhttps://www.spreaker.com/episode/421-knowing-when-to-trade--45924397
Podcast:

Click here to Learn More About my Course
Click here to learn more about Blueberry Markets
#421: Knowing When to Trade
In this video:
00:27 – When should I trade?
00:51 – How I used to trade many years ago
01:27 – Do what works for you
02:35 – Some examples of when I trade
04:00 – This makes trading enjoyable
04:13 – Where to put your funds and why I use Blueberry Markets
05:22 – How and where to trade
05:44 – Share and like this video and podcast

How do you know when to look at your charts and when you should and should not be trading? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem at The Forex Trading Coach with video and podcast number 421.

When should I trade?

I want to talk about a very important topic. I get asked this very often, and it's all about when should I trade. Now of course, the answer for you will be different to someone else; it depends where you live in the world, what your available time is, what type of trader you are. There's lots and lots of variables. But I want to give you some examples and hopefully help you to decide when the best time is for you. I'll share with you when I trade myself.

How I used to trade many years ago

So years ago, I used to be looking at the charts all the time, looking at every pip movement up and down on five minute charts, one minute charts. All that crazy kind of stuff. And then I got into news trading and I thought that's going to be the way to trade. But living in New Zealand, most of the news announcements were in my night time or early hours of the morning. So I was getting up at like 2:00, 3:00, 4:00 in the morning and looking for straddle trades, trading US news announcements. Of course it didn't work. But it had some merit and some logic, well I thought it had merit and logic at the time.

Do what works for you

So it comes back to you have to develop something that works for you and it has to be realistic. And that's why some 17 years later I'm still trading, because although I went through that experimental stage early on, I then very soon discovered that if I'm going to trade properly and I'm going to do this properly and I'm going to do this professionally, I need to do something that works. So for that reason, I then started to understand candle patterns and strength and weakness analysis. And when you understand candles, what you realise is there is no point in looking at a candle when it's mid-formation. So what I mean by that is I only look at a candle and make a decision on whether I'm taking a new trade or not once that candle has closed and completed. Because then nothing else moves. Then you can make your analysis. A lot of benefits to that. Less stress, you know when to look at your charts, and if you trade the way that I trade using retracement limit orders you don't even need to be there at that exact time when the candle changes.

Some examples of when I trade

So to give you some examples: the daily candle will close and the new day opens at 5:00 PM New York time. That's Eastern Standard time. At that time, I personally look at the daily charts because that's when I write my analysis. And I also at that stage look at the four hour charts, the six hour, the eight hour, and the 12 hour charts. So I can look through those five different timeframe charts, it takes me 10-15 minutes to do all of that once a day. And of course at the beginning of each week you can look at the weekly charts,]]>https://theforextradingcoach.com/?p=14109Sun, 01 Aug 2021 11:55:24 +0000Andrew MitchemKnowing When to Trade  Podcast: Click here to Learn More About my Course Click here to learn more about Blueberry Markets #421: Knowing When to Trade In this video: 00:27 – When should I trade? 00:51 – How I used to trade many...
Podcast:

Click here to Learn More About my Course
Click here to learn more about Blueberry Markets
#421: Knowing When to Trade
In this video:
00:27 – When should I trade?
00:51 – How I used to trade many years ago
01:27 – Do what works for you
02:35 – Some examples of when I trade
04:00 – This makes trading enjoyable
04:13 – Where to put your funds and why I use Blueberry Markets
05:22 – How and where to trade
05:44 – Share and like this video and podcast

How do you know when to look at your charts and when you should and should not be trading? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem at The Forex Trading Coach with video and podcast number 421.

When should I trade?

I want to talk about a very important topic. I get asked this very often, and it's all about when should I trade. Now of course, the answer for you will be different to someone else; it depends where you live in the world, what your available time is, what type of trader you are. There's lots and lots of variables. But I want to give you some examples and hopefully help you to decide when the best time is for you. I'll share with you when I trade myself.

How I used to trade many years ago

So years ago, I used to be looking at the charts all the time, looking at every pip movement up and down on five minute charts, one minute charts. All that crazy kind of stuff. And then I got into news trading and I thought that's going to be the way to trade. But living in New Zealand, most of the news announcements were in my night time or early hours of the morning. So I was getting up at like 2:00, 3:00, 4:00 in the morning and looking for straddle trades, trading US news announcements. Of course it didn't work. But it had some merit and some logic, well I thought it had merit and logic at the time.

Do what works for you

So it comes back to you have to develop something that works for you and it has to be realistic. And that's why some 17 years later I'm still trading, because although I went through that experimental stage early on, I then very soon discovered that if I'm going to trade properly and I'm going to do this properly and I'm going to do this professionally, I need to do something that works. So for that reason, I then started to understand candle patterns and strength and weakness analysis. And when you understand candles, what you realise is there is no point in looking at a candle when it's mid-formation. So what I mean by that is I only look at a candle and make a decision on whether I'm taking a new trade or not once that candle has closed and completed. Because then nothing else moves. Then you can make your analysis. A lot of benefits to that. Less stress, you know when to look at your charts, and if you trade the way that I trade using retracement limit orders you don't even need to be there at that exact time when the candle changes.

Some examples of when I trade

So to give you some examples: the daily candle will close and the new day opens at 5:00 PM New York time. That's Eastern Standard time. At that time, I personally look at the daily charts because that's when I write my analysis. And I also at that stage look at the four hour charts, the six hour, the eight hour, and the 12 hour charts. So I can look through those five different timeframe charts, it takes me 10-15 minutes to do all of that once a day. And of course at the beginning of each week you can look at the weekly charts,]]>361falsefullhttps://www.spreaker.com/episode/420-have-you-received-your-inflation-bonus-yet--45834380
Podcast:

#420: Have You Received Your Inflation Bonus Yet?
In this video:
00:25 – Inflation is about to take off
00:56 – Why is inflation rising and what does that mean for you?
02:14 – Do you have a 4% pay increase?
02:36 – What can you do about this?
03:03 – Look at our recent Monthly chart trade results
03:45 – Our +5.5% gain from just 3 trades
04:11 – Talk to us

Have you received your inflation bonus yet? If you haven't, you need to start asking for one. Let's talk about that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 420.

Inflation is about to take off

Now every way you look, everywhere you read right now everybody is talking about how inflation is going to go crazy all throughout the world. Certainly here in New Zealand, that is the case. Our annual inflation has just risen, released last week, 3.3%. The highest in over a decade.

In the UK, I was reading that they are projecting within a few months their inflation to be up to a 4% massive, massive inflation. Why is that happening?

Why is inflation rising and what does that mean for you?

Well, just look at what's happening around the world with even here in New Zealand, just a shortage of good labour, good staff is a big, big shortage problem. There's a shortage of materials, there's a shortage of food being picked because of the shortage of staff, and it's all to do with obviously COVID and the knock-on effects of that.

You look at what we're doing right here. We cannot get enough people into the country. They're not letting people into the country to come here and work, and as a result of that we're seeing food wasted. There's food through orchards and cropping all over the place that's just wasted. It's absolutely criminal. What's happening with that is the food is getting more and more expensive, and there's all this wastage all over the place, because orchardists, et cetera, cannot pick.

Same with housing, you cannot find a builder. They're so rare at the moment, because everybody's tied up doing work. So therefore if you want to build it, you have to pay stupid money for it. There's a lack of product coming into the country, so therefore there's a lack of material and therefore the price goes up, because if you want it, you have to pay for it. Supply and demand, simple economics.

So, that's what's happening here. It's probably going to be happening exactly where you are and it's happening right around the world, or shortly will be if it's not already doing so.

Do you have a 4% pay increase?

So, what does that mean for you? Well, if you're in the UK, that means if you don't have a 4% rise in your income, you're effectively going backwards. Here in New Zealand if you don't have a 3.3% rise in your income from this time last year, you are going backwards. The cost of living is getting higher and higher and probably for most people wages are not keeping up.

What can you do about this?

So, that brings me back to trading and why I trade and why I suggest that most people, if you have that interest, you should at least put some of your investment through trading the Forex market, but of course only if you know what you are doing. I want to give you three examples of three trades that we've taken on our membership site, because people say to me all the time, "Look, I don't have time. I've got jobs to do, family, et cetera."

Well, that's fine, so do most people.

Look at our recent Monthly chart trade results

The reality is why don't you have a look at what we've posted on our monthly charts?]]>https://theforextradingcoach.com/?p=14048Sun, 25 Jul 2021 11:55:52 +0000Andrew MitchemHave You Received Your Inflation Bonus Yet?  Podcast: #420: Have You Received Your Inflation Bonus Yet? In this video: 00:25 – Inflation is about to take off 00:56 – Why is inflation rising and what does that mean for you? 02:14 –...
Podcast:

#420: Have You Received Your Inflation Bonus Yet?
In this video:
00:25 – Inflation is about to take off
00:56 – Why is inflation rising and what does that mean for you?
02:14 – Do you have a 4% pay increase?
02:36 – What can you do about this?
03:03 – Look at our recent Monthly chart trade results
03:45 – Our +5.5% gain from just 3 trades
04:11 – Talk to us

Have you received your inflation bonus yet? If you haven't, you need to start asking for one. Let's talk about that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 420.

Inflation is about to take off

Now every way you look, everywhere you read right now everybody is talking about how inflation is going to go crazy all throughout the world. Certainly here in New Zealand, that is the case. Our annual inflation has just risen, released last week, 3.3%. The highest in over a decade.

In the UK, I was reading that they are projecting within a few months their inflation to be up to a 4% massive, massive inflation. Why is that happening?

Why is inflation rising and what does that mean for you?

Well, just look at what's happening around the world with even here in New Zealand, just a shortage of good labour, good staff is a big, big shortage problem. There's a shortage of materials, there's a shortage of food being picked because of the shortage of staff, and it's all to do with obviously COVID and the knock-on effects of that.

You look at what we're doing right here. We cannot get enough people into the country. They're not letting people into the country to come here and work, and as a result of that we're seeing food wasted. There's food through orchards and cropping all over the place that's just wasted. It's absolutely criminal. What's happening with that is the food is getting more and more expensive, and there's all this wastage all over the place, because orchardists, et cetera, cannot pick.

Same with housing, you cannot find a builder. They're so rare at the moment, because everybody's tied up doing work. So therefore if you want to build it, you have to pay stupid money for it. There's a lack of product coming into the country, so therefore there's a lack of material and therefore the price goes up, because if you want it, you have to pay for it. Supply and demand, simple economics.

So, that's what's happening here. It's probably going to be happening exactly where you are and it's happening right around the world, or shortly will be if it's not already doing so.

Do you have a 4% pay increase?

So, what does that mean for you? Well, if you're in the UK, that means if you don't have a 4% rise in your income, you're effectively going backwards. Here in New Zealand if you don't have a 3.3% rise in your income from this time last year, you are going backwards. The cost of living is getting higher and higher and probably for most people wages are not keeping up.

What can you do about this?

So, that brings me back to trading and why I trade and why I suggest that most people, if you have that interest, you should at least put some of your investment through trading the Forex market, but of course only if you know what you are doing. I want to give you three examples of three trades that we've taken on our membership site, because people say to me all the time, "Look, I don't have time. I've got jobs to do, family, et cetera."

Well, that's fine, so do most people.

Look at our recent Monthly chart trade results

The reality is why don't you have a look at what we've posted on our monthly charts?]]>274falsefullhttps://www.spreaker.com/episode/419-trade-when-the-conditions-are-right--45656325
Podcast:

#419: Trade When the Conditions are Right
In this video:
00:23 – Knowing when to trade
00:48 – Why I trade candle patterns
01:42 – Don’t trade if the market is flat
02:39 – Look at this week’s trading charts
03:15 – Our results from this week
04:40 – Get onto one of my weekly webinars

When conditions are right, get trading, make profit, and enjoy it. Let's talk about that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 419.

Knowing when to trade

Now, trading conditions are hard to judge; it's hard to know what kind of conditions we're in right now. But one of the hard things I think people find with trading is they struggle with waiting and they struggle with being impatient. People just really want to take trades all the time because they think that's what they have to do. For me, there's a few easy ways around this.

Why I trade candle patterns

For me, it's why I look at candle patterns. Because a candle pattern will tell me if it's in the right part of the chart whether I have a suitable trading opportunity or not. It's why I only look at my charts two or three times a day on the close of candles. I'm not there being impatient feeling that because I'm at my computer and I'm at the mouse and I feel I have to keep clicking. You know, you've got to get away from that impatience that people have with trading.

Unfortunately I see it all the time that people just take too many trades, and there's a big, big problem. And you can see why; it's exciting to trade and you want to trade so therefore you trade. But always look at the conditions. It's why I look at round numbers. It's why I look at room for moving to my profit target, it's why I look at different timeframe charts as well. It's why I assess strength and weakness. So I'm giving myself a high probability chance of a successful trade.

Don’t trade if the market is flat

Now, if the market's flat and if the market's not showing anything, I simply move on. I come back and look again later when the next candle closes. But if there's nothing there, don't take anything. Don't just pay your broker lots of spreads and probably in taking losing trades. Because it's so hard to climb back from that. You've got to have profitable trades that outdo your losses plus make some more and so that's a real hard part of trading for so many people.

You can always find a trade if you go down to a shorter timeframe chart. You're looking at real short timeframe scalping kind of positions. But that's not what most people are about, and it's not enjoyable for me, certainly. I don't think it's an enjoyable way to trade. You're far better off being patient and looking a few times a day and then taking a trade with high reward to risk. Not this stressful feeling that you've got to watch every pip move up and down situation.

So when trading conditions are not there, they're not right, don't trade.

Look at this week’s trading charts

However, have a look at this week's charts. Now Friday of last week was the US monthly employment data, so things were pretty quiet. Monday was Independence Day in America, so things were pretty quiet. But then Tuesday, Wednesday, Thursday we've seen some exceptional conditions. So just four days into the week so far as I'm recording this right now on my Friday morning, we have had some great trades. If the market is showing the conditions, you see the trade, you take the trade, you profit from it. Because that's what you have to do when the market is giving you these opportunities.]]>https://theforextradingcoach.com/?p=13953Sun, 11 Jul 2021 11:55:55 +0000Andrew MitchemTrade When the Conditions are Right  Podcast: #419: Trade When the Conditions are Right In this video: 00:23 – Knowing when to trade 00:48 – Why I trade candle patterns 01:42 – Don’t trade if the market is flat 02:39 – Look at this...
Podcast:

#419: Trade When the Conditions are Right
In this video:
00:23 – Knowing when to trade
00:48 – Why I trade candle patterns
01:42 – Don’t trade if the market is flat
02:39 – Look at this week’s trading charts
03:15 – Our results from this week
04:40 – Get onto one of my weekly webinars

When conditions are right, get trading, make profit, and enjoy it. Let's talk about that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 419.

Knowing when to trade

Now, trading conditions are hard to judge; it's hard to know what kind of conditions we're in right now. But one of the hard things I think people find with trading is they struggle with waiting and they struggle with being impatient. People just really want to take trades all the time because they think that's what they have to do. For me, there's a few easy ways around this.

Why I trade candle patterns

For me, it's why I look at candle patterns. Because a candle pattern will tell me if it's in the right part of the chart whether I have a suitable trading opportunity or not. It's why I only look at my charts two or three times a day on the close of candles. I'm not there being impatient feeling that because I'm at my computer and I'm at the mouse and I feel I have to keep clicking. You know, you've got to get away from that impatience that people have with trading.

Unfortunately I see it all the time that people just take too many trades, and there's a big, big problem. And you can see why; it's exciting to trade and you want to trade so therefore you trade. But always look at the conditions. It's why I look at round numbers. It's why I look at room for moving to my profit target, it's why I look at different timeframe charts as well. It's why I assess strength and weakness. So I'm giving myself a high probability chance of a successful trade.

Don’t trade if the market is flat

Now, if the market's flat and if the market's not showing anything, I simply move on. I come back and look again later when the next candle closes. But if there's nothing there, don't take anything. Don't just pay your broker lots of spreads and probably in taking losing trades. Because it's so hard to climb back from that. You've got to have profitable trades that outdo your losses plus make some more and so that's a real hard part of trading for so many people.

You can always find a trade if you go down to a shorter timeframe chart. You're looking at real short timeframe scalping kind of positions. But that's not what most people are about, and it's not enjoyable for me, certainly. I don't think it's an enjoyable way to trade. You're far better off being patient and looking a few times a day and then taking a trade with high reward to risk. Not this stressful feeling that you've got to watch every pip move up and down situation.

So when trading conditions are not there, they're not right, don't trade.

Look at this week’s trading charts

However, have a look at this week's charts. Now Friday of last week was the US monthly employment data, so things were pretty quiet. Monday was Independence Day in America, so things were pretty quiet. But then Tuesday, Wednesday, Thursday we've seen some exceptional conditions. So just four days into the week so far as I'm recording this right now on my Friday morning, we have had some great trades. If the market is showing the conditions, you see the trade, you take the trade, you profit from it. Because that's what you have to do when the market is giving you these opportunities.]]>328falsefullhttps://www.spreaker.com/episode/418-incredible-returns-from-our-trading-bots--45569946
Podcast:

#418: Incredible Returns from Our Trading Bots
In this video:
00:27 – TFTC Pattern Trader Updates
01:13 – Updates coming in August
01:59 – Our top bot traders
03:18 – 2 weeks free trial available
03:30 – Traders making great returns and enjoying knowing how to trade
04:17 – My trading blend of manual and auto trading

I'm going to give you some updates from our TFTC Pattern Trader software, and also talk about some very happy coaching clients.

Let's get into that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 418.

TFTC Pattern Trader Updates

Now, I want to give you an update, first of all, regarding our amazing bot trading software called TFTC Pattern Trader.

I'll put a link to it on this page, so you can go and get yourself a free two-week trial to that software.

Now, the software basically allows you to create different trading robots using my strategy across different timeframe charts with different criteria, and allows you to back test those trades, and also, then, when you've created a portfolio of bots that you like, to take those trades on a live account, that you have your MT4 account built into the software.

So you don't need any extra VPS. You don't need any expert advisors, you don't need anything like that. It's all integrated together.

Updates coming in August

Now, in early August, we will be having some new updates and upgrades to the system. It's already incredibly amazing.

It's going to get even better. We're going to have new functions, like the ability to forward test, as well as just back test, which is going to be a massive improvement yet further.

We're going to also have the ability for people to fine tune different indicators on different timeframe charts, plus you'd have the ability to use the built in virtual server and built in virtual account to have it in different currency denominations and start at different account sizes, to make it realistic, to see what returns the bots would have created, and back test and then forward test and then going into live trading.

Our top bot traders

Now, just to give you some examples, our top 20 leaderboards, that's the top 20 returns from people using the software already, all 20 of those people have made actual returns of over 20%.

Now, they've been using it for different lengths of time, but the top person right now is at 76% gain from their bots.

Now, don't forget that they've created these bots using a simple strategy, simple to do, and they're running this on live accounts, and they've made 76%, all with low drawdown as well.

And the top annualised return, so, this person hasn't made this yet, but they're projected to, according to their current figures, they're up to make 221% gain on their account in 12 months, according to where they are so far, with their actual live account returns.

Quite amazing returns when you think about that, and don't forget, it's all automated, or you can manually opt to take trades or not via Telegram when you simply get the trade sent through to you, you can see the trade and you decide yes or no on Telegram app, and it automatically places the trade there onto your trading account, or it can be completely, 100% automated.

So it's quite amazing returns that people are getting there.

2 weeks free trial available

As I said, there's a two week free trial that we can give you to the basic version of the software. Just go to TFTCpatterntrader.com. And as mentioned, I'll put a link on this post, as well.]]>https://theforextradingcoach.com/?p=13936Sun, 04 Jul 2021 11:55:20 +0000Andrew MitchemIncredible Returns from Our Trading Bots  Podcast: #418: Incredible Returns from Our Trading Bots In this video: 00:27 – TFTC Pattern Trader Updates 01:13 – Updates coming in August 01:59 – Our top bot traders 03:18 – 2 weeks free...
Podcast:

#418: Incredible Returns from Our Trading Bots
In this video:
00:27 – TFTC Pattern Trader Updates
01:13 – Updates coming in August
01:59 – Our top bot traders
03:18 – 2 weeks free trial available
03:30 – Traders making great returns and enjoying knowing how to trade
04:17 – My trading blend of manual and auto trading

I'm going to give you some updates from our TFTC Pattern Trader software, and also talk about some very happy coaching clients.

Let's get into that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 418.

TFTC Pattern Trader Updates

Now, I want to give you an update, first of all, regarding our amazing bot trading software called TFTC Pattern Trader.

I'll put a link to it on this page, so you can go and get yourself a free two-week trial to that software.

Now, the software basically allows you to create different trading robots using my strategy across different timeframe charts with different criteria, and allows you to back test those trades, and also, then, when you've created a portfolio of bots that you like, to take those trades on a live account, that you have your MT4 account built into the software.

So you don't need any extra VPS. You don't need any expert advisors, you don't need anything like that. It's all integrated together.

Updates coming in August

Now, in early August, we will be having some new updates and upgrades to the system. It's already incredibly amazing.

It's going to get even better. We're going to have new functions, like the ability to forward test, as well as just back test, which is going to be a massive improvement yet further.

We're going to also have the ability for people to fine tune different indicators on different timeframe charts, plus you'd have the ability to use the built in virtual server and built in virtual account to have it in different currency denominations and start at different account sizes, to make it realistic, to see what returns the bots would have created, and back test and then forward test and then going into live trading.

Our top bot traders

Now, just to give you some examples, our top 20 leaderboards, that's the top 20 returns from people using the software already, all 20 of those people have made actual returns of over 20%.

Now, they've been using it for different lengths of time, but the top person right now is at 76% gain from their bots.

Now, don't forget that they've created these bots using a simple strategy, simple to do, and they're running this on live accounts, and they've made 76%, all with low drawdown as well.

And the top annualised return, so, this person hasn't made this yet, but they're projected to, according to their current figures, they're up to make 221% gain on their account in 12 months, according to where they are so far, with their actual live account returns.

Quite amazing returns when you think about that, and don't forget, it's all automated, or you can manually opt to take trades or not via Telegram when you simply get the trade sent through to you, you can see the trade and you decide yes or no on Telegram app, and it automatically places the trade there onto your trading account, or it can be completely, 100% automated.

So it's quite amazing returns that people are getting there.

2 weeks free trial available

As I said, there's a two week free trial that we can give you to the basic version of the software. Just go to TFTCpatterntrader.com. And as mentioned, I'll put a link on this post, as well.]]>320falsefullhttps://www.spreaker.com/episode/417-are-cryptos-a-good-investment--45466219
Podcast:

#417: Are Cryptos a Good Investment?
In this video:
00:22 – Crypto currencies or Forex?
00:45 – The advantage of Forex
01:39 – Bitcoin crashes 50% in 2 months
02:53 – Emotions when trading live
03:49 – Forex is the clear winner

Are cryptos a good investment? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 417.

Crypto currencies or Forex?

Now there's obviously a lot of talk and a lot of speculation around right now, about cryptocurrencies, and are they a better way of trading than trading the traditional forex market? And with all these new things, everybody thinks that the next thing's the best thing, but for me, there are so many reasons why trading forex is so much better than trading cryptos.

The advantage of Forex

To start with, forex is stable. It's been around for years and years now. It's stable. You can trade it fundamentally. So you can look at world events, news items. You can trade it technically, you can look at your charts. You can trade it with a combination of both. As you know, I'm a technical trader in the forex market, and so what I see on the charts tells me what's likely to be happening and where I can put my entry and stop loss and profit targets, et cetera, to gain my low risk, high reward trades that we trade.

And so for me, that's a huge advantage, and world events move the forex market. And you only need to know about eight different currencies, the main currencies, and that's it. So there's a lot of advantage there. You've got stop loss protection, you can trade different timeframe charts, you know exactly when to look at your charts, et cetera. So all those benefits that you just do not get in the crypto currencies.

Bitcoin crashes 50% in 2 months

Take Bitcoin for example. Just two months ago, Bitcoin almost got to 65,000 US dollars for one Bitcoin. Today, two months later, right now it's at 33,000. That's almost a 50% drop in the value of Bitcoin. And that's something you just do not get in the currency markets. You imagine if you went out there and just bought a Bitcoin and paid nearly 66,000 US dollars or 65,000 US dollars, and today it's half that value. That's clearly not good.

But the thing is, how do you trade that? And the beauty of the forex market is you can trade the forex market and you're in and out of trades relatively quickly, depending on what type of trader you are within a few minutes, a few hours, a few days sometimes, the odd time a week or so. But you're in and out of that market without those big gaps and those big gaps up, big gaps down and all of a sudden your Bitcoin's gone from 33,000 down to 25 or maybe 33 up to 38 or something. Big gaps up and down are very, very dangerous emotionally. And you cannot really put stop losses in place, and it's really hard to control what's happening when you get those gaps.

Emotions when trading live

So to me, you've got to remember that when you trade live, anything live, it's very, very different. The whole could've, would've, should've scenario, all sounds great in hindsight, "Oh, I should have bought Bitcoin when it was $2,000 and then I should have sold it at 65,000." But thing is, did you really do that? And so when it comes to real money, it's a lot harder than the would've, could've, should've theory, because it's real. It's real money. It's your hard earned cash. It's an investment. You've got to make a decision and you've got to stand by that decision as your cryptocurrency right now, over the last two months has just done nothing but drop. When you get out, do you lose money? Do you accept a loss? All those things,]]>https://theforextradingcoach.com/?p=13915Sun, 27 Jun 2021 11:55:05 +0000Andrew MitchemAre Cryptos a Good Investment?  Podcast: #417: Are Cryptos a Good Investment? In this video: 00:22 – Crypto currencies or Forex? 00:45 – The advantage of Forex 01:39 – Bitcoin crashes 50% in 2 months 02:53 – Emotions when trading...
Podcast:

#417: Are Cryptos a Good Investment?
In this video:
00:22 – Crypto currencies or Forex?
00:45 – The advantage of Forex
01:39 – Bitcoin crashes 50% in 2 months
02:53 – Emotions when trading live
03:49 – Forex is the clear winner

Are cryptos a good investment? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 417.

Crypto currencies or Forex?

Now there's obviously a lot of talk and a lot of speculation around right now, about cryptocurrencies, and are they a better way of trading than trading the traditional forex market? And with all these new things, everybody thinks that the next thing's the best thing, but for me, there are so many reasons why trading forex is so much better than trading cryptos.

The advantage of Forex

To start with, forex is stable. It's been around for years and years now. It's stable. You can trade it fundamentally. So you can look at world events, news items. You can trade it technically, you can look at your charts. You can trade it with a combination of both. As you know, I'm a technical trader in the forex market, and so what I see on the charts tells me what's likely to be happening and where I can put my entry and stop loss and profit targets, et cetera, to gain my low risk, high reward trades that we trade.

And so for me, that's a huge advantage, and world events move the forex market. And you only need to know about eight different currencies, the main currencies, and that's it. So there's a lot of advantage there. You've got stop loss protection, you can trade different timeframe charts, you know exactly when to look at your charts, et cetera. So all those benefits that you just do not get in the crypto currencies.

Bitcoin crashes 50% in 2 months

Take Bitcoin for example. Just two months ago, Bitcoin almost got to 65,000 US dollars for one Bitcoin. Today, two months later, right now it's at 33,000. That's almost a 50% drop in the value of Bitcoin. And that's something you just do not get in the currency markets. You imagine if you went out there and just bought a Bitcoin and paid nearly 66,000 US dollars or 65,000 US dollars, and today it's half that value. That's clearly not good.

But the thing is, how do you trade that? And the beauty of the forex market is you can trade the forex market and you're in and out of trades relatively quickly, depending on what type of trader you are within a few minutes, a few hours, a few days sometimes, the odd time a week or so. But you're in and out of that market without those big gaps and those big gaps up, big gaps down and all of a sudden your Bitcoin's gone from 33,000 down to 25 or maybe 33 up to 38 or something. Big gaps up and down are very, very dangerous emotionally. And you cannot really put stop losses in place, and it's really hard to control what's happening when you get those gaps.

Emotions when trading live

So to me, you've got to remember that when you trade live, anything live, it's very, very different. The whole could've, would've, should've scenario, all sounds great in hindsight, "Oh, I should have bought Bitcoin when it was $2,000 and then I should have sold it at 65,000." But thing is, did you really do that? And so when it comes to real money, it's a lot harder than the would've, could've, should've theory, because it's real. It's real money. It's your hard earned cash. It's an investment. You've got to make a decision and you've got to stand by that decision as your cryptocurrency right now, over the last two months has just done nothing but drop. When you get out, do you lose money? Do you accept a loss? All those things,]]>258falsefullhttps://www.spreaker.com/episode/416-how-to-achieve-time-freedom--45373572
Podcast:

#415: Get a copy of our Traders App
In this video:
00:31 – Feedback from our live weekly webinar
01:23 – How to achieve time freedom
02:00 – I look at the charts twice a day
03:04 – The beauty of trading Forex
03:27 – Commit to learn at the beginning
04:14 – 2 trades taken live on our webinar
04:36 – How to take the next step

Time freedom. It's something everybody is searching for. Let me share with you now how Forex Trading can help you achieve the time freedom that you're looking for.

Hey traders, it's Andrew Mitchem here at the Forex Trading coach with video and podcast number 416. And I want to talk about time freedom on today's video and podcast.

Feedback from our live weekly webinar

But first, I just want to share with you an email that I've received from a new client who attended my live webinar just last night. And by the way, I took two trades on the one-hour chart and the two-hour chart. Both were profitable on the webinar, made our clients a lot of money.

Received this from John. "Hi, Andrew. I've been in many live sessions over the last few years. In fact, hundreds from ... Won't read the company name out, but a well-known Forex course.

And today, with you was by far the best. It was simply sensational. It looks like after so many years of frustrations, dead ends false starts and false dawns. I've found the right organisation and mentor,

and it comes as a relief having thrown in the towel a while ago exhausted and depressed" that's from John. So just wanted to read that out for you. It's just recently been received.

How to achieve time freedom

So back to time freedom. We all have the same time. It doesn't matter where you live in the world, how old you are, how much money you've got, whether you're male, female, what your job is, it does not matter. Everybody has the same amount of time and it's how we use it that is the most important thing. And I want to share with you why I believe that once you can understand trading and once you've trade properly, how it's more than just like the monetary side of things that is important. It's the time side of it, it's the freedom that it provides.

I look at the charts twice a day

For me personally, I commit to looking at the charts twice a day. If I do that, I can trade full time, look through ample charts and make some great returns. And so what that allows me to do is to choose what I do the rest of the day, whether that be something that wants to be freed up time for you know, you might want sort of more time for either other work. You might want it for sports, recreational, family, whatever it is you do. I live on 11 acres here, it takes quite a bit of looking after you know, we do all this ourselves, myself and my wife.

So I need time to go and do those type of things. I fly a helicopter, you know that takes time and commitment for learning and training and actually doing the fly. So I like to do that. I like to play sports, we've got five children, you know it takes time to do all the running around for kids. Being the taxi service, the mum and dad, taxi service for children and all and commitments and schoolwork and all those types of things. So all takes time out of your day.

The beauty of trading Forex

And the beauty of trading is that because I know when to look at the charts and for me, it's 5:00 AM and 5:00 PM, New York time. And that's the only time I look at my charts.

I know what free time I have during the rest of the day and night to decide on what to do. And so that to me is one of the benefits.]]>https://theforextradingcoach.com/?p=13902Sun, 20 Jun 2021 11:55:29 +0000Andrew MitchemHow to Achieve Time Freedom  Podcast: #415: Get a copy of our Traders App In this video: 00:31 – Feedback from our live weekly webinar 01:23 – How to achieve time freedom 02:00 – I look at the charts twice a day 03:04 – The beauty of...
Podcast:

#415: Get a copy of our Traders App
In this video:
00:31 – Feedback from our live weekly webinar
01:23 – How to achieve time freedom
02:00 – I look at the charts twice a day
03:04 – The beauty of trading Forex
03:27 – Commit to learn at the beginning
04:14 – 2 trades taken live on our webinar
04:36 – How to take the next step

Time freedom. It's something everybody is searching for. Let me share with you now how Forex Trading can help you achieve the time freedom that you're looking for.

Hey traders, it's Andrew Mitchem here at the Forex Trading coach with video and podcast number 416. And I want to talk about time freedom on today's video and podcast.

Feedback from our live weekly webinar

But first, I just want to share with you an email that I've received from a new client who attended my live webinar just last night. And by the way, I took two trades on the one-hour chart and the two-hour chart. Both were profitable on the webinar, made our clients a lot of money.

Received this from John. "Hi, Andrew. I've been in many live sessions over the last few years. In fact, hundreds from ... Won't read the company name out, but a well-known Forex course.

And today, with you was by far the best. It was simply sensational. It looks like after so many years of frustrations, dead ends false starts and false dawns. I've found the right organisation and mentor,

and it comes as a relief having thrown in the towel a while ago exhausted and depressed" that's from John. So just wanted to read that out for you. It's just recently been received.

How to achieve time freedom

So back to time freedom. We all have the same time. It doesn't matter where you live in the world, how old you are, how much money you've got, whether you're male, female, what your job is, it does not matter. Everybody has the same amount of time and it's how we use it that is the most important thing. And I want to share with you why I believe that once you can understand trading and once you've trade properly, how it's more than just like the monetary side of things that is important. It's the time side of it, it's the freedom that it provides.

I look at the charts twice a day

For me personally, I commit to looking at the charts twice a day. If I do that, I can trade full time, look through ample charts and make some great returns. And so what that allows me to do is to choose what I do the rest of the day, whether that be something that wants to be freed up time for you know, you might want sort of more time for either other work. You might want it for sports, recreational, family, whatever it is you do. I live on 11 acres here, it takes quite a bit of looking after you know, we do all this ourselves, myself and my wife.

So I need time to go and do those type of things. I fly a helicopter, you know that takes time and commitment for learning and training and actually doing the fly. So I like to do that. I like to play sports, we've got five children, you know it takes time to do all the running around for kids. Being the taxi service, the mum and dad, taxi service for children and all and commitments and schoolwork and all those types of things. So all takes time out of your day.

The beauty of trading Forex

And the beauty of trading is that because I know when to look at the charts and for me, it's 5:00 AM and 5:00 PM, New York time. And that's the only time I look at my charts.

I know what free time I have during the rest of the day and night to decide on what to do. And so that to me is one of the benefits.]]>296falsefullhttps://www.spreaker.com/episode/415-get-a-copy-of-our-traders-app--45282485
Podcast:

#415: Get a copy of our Traders App
In this video:
00:23 – 2 announcements to inform you about
00:39 – Our new traders app
02:02 – The next FX Insiders webinar
03:20 – Recap of the 2 announcements this week

We've just launched our first ever trader's app. Let me show you how you can get a copy right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 415.

2 announcements to inform you about

Got two very important announcements to make for you today. First one is about our new trader's app, and the second one is about a live webinar that I'll be holding this week and I'd love you to attend that because you're going to learn so much from it.

Our new traders app

So number one, our new trader's app. We have launched our first ever trader's app for the public to gain access to the free information that we post each day on our website. But it's just going to be available for you nice and conveniently straight through to our app. Right now it's only available on the IOS or Apple App Store, but very shortly we'll have it available for Google and Android. So all you need to do is search up the Forex Trading Coach Mobile, I'll put a link on this video and podcast about it.

Now really cool app, very easy to use. It sends you a link to the updated daily free information where I publish the strengths and weaknesses of currencies each day and different currency pairs where I'm looking for them to predominantly look for buy-trades or sell-trades for that day.

That information comes through to you on the app now. You can also get access to all of my now 415 videos and podcast, the weekly videos just like this one. You can register for one of my webinars that I hold for new traders or experienced traders each week. You can also register for our ebook or our lot-size calculator that works on MT4 or MT5. So that's the app. Have a look on the App Store and look on the link that I'll put on this podcast and video.

The next FX Insiders webinar

That's the first thing. The second one: on Wednesday the 16th at 7:00 AM my time here in New Zealand, which could be your Tuesday so have a look depending on where you live in the world, it could be your Tuesday, it could be early hours of Wednesday. There's a link on the page that I'm going to give you anyway to register for my next Forex Insider's Webinar. Got a lot of people already registered. We do have to put a restriction on it because it's a live session.

But it's going to be a really good webinar. It's going to be about how you can increase and boost your profits plus also save yourself time by using our clever way of using retracement orders and limit orders to enter into trades. So it definitely will boost your profits, it will increase your reward-to-risk of your trades, and it saves you time because you don't need to be there at the time that the price gets to your entry level.

So I'd love to share with you some more information about how we do that and how that can help benefit you. So there will be a link on here; make sure you register for it. Like I said, limited spaces. It's a live webinar. Make sure you jump on it and take advantage of that information that we are sharing with you.

Recap of the 2 announcements this week

So two things: number one, if you are on the Apple phone IOS get a copy of our new app. If you're on Android just got to wait a tiny bit longer but it's coming. Point number two, make sure you register for the webinar that I'm going to be holding this week and get the start time correct in your loca...]]>https://theforextradingcoach.com/?p=13891Sun, 13 Jun 2021 11:55:41 +0000Andrew MitchemGet a copy of our Traders App  Podcast: #415: Get a copy of our Traders App In this video: 00:23 – 2 announcements to inform you about 00:39 – Our new traders app 02:02 – The next FX Insiders webinar 03:20 – Recap of the 2...
Podcast:

#415: Get a copy of our Traders App
In this video:
00:23 – 2 announcements to inform you about
00:39 – Our new traders app
02:02 – The next FX Insiders webinar
03:20 – Recap of the 2 announcements this week

We've just launched our first ever trader's app. Let me show you how you can get a copy right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 415.

2 announcements to inform you about

Got two very important announcements to make for you today. First one is about our new trader's app, and the second one is about a live webinar that I'll be holding this week and I'd love you to attend that because you're going to learn so much from it.

Our new traders app

So number one, our new trader's app. We have launched our first ever trader's app for the public to gain access to the free information that we post each day on our website. But it's just going to be available for you nice and conveniently straight through to our app. Right now it's only available on the IOS or Apple App Store, but very shortly we'll have it available for Google and Android. So all you need to do is search up the Forex Trading Coach Mobile, I'll put a link on this video and podcast about it.

Now really cool app, very easy to use. It sends you a link to the updated daily free information where I publish the strengths and weaknesses of currencies each day and different currency pairs where I'm looking for them to predominantly look for buy-trades or sell-trades for that day.

That information comes through to you on the app now. You can also get access to all of my now 415 videos and podcast, the weekly videos just like this one. You can register for one of my webinars that I hold for new traders or experienced traders each week. You can also register for our ebook or our lot-size calculator that works on MT4 or MT5. So that's the app. Have a look on the App Store and look on the link that I'll put on this podcast and video.

The next FX Insiders webinar

That's the first thing. The second one: on Wednesday the 16th at 7:00 AM my time here in New Zealand, which could be your Tuesday so have a look depending on where you live in the world, it could be your Tuesday, it could be early hours of Wednesday. There's a link on the page that I'm going to give you anyway to register for my next Forex Insider's Webinar. Got a lot of people already registered. We do have to put a restriction on it because it's a live session.

But it's going to be a really good webinar. It's going to be about how you can increase and boost your profits plus also save yourself time by using our clever way of using retracement orders and limit orders to enter into trades. So it definitely will boost your profits, it will increase your reward-to-risk of your trades, and it saves you time because you don't need to be there at the time that the price gets to your entry level.

So I'd love to share with you some more information about how we do that and how that can help benefit you. So there will be a link on here; make sure you register for it. Like I said, limited spaces. It's a live webinar. Make sure you jump on it and take advantage of that information that we are sharing with you.

Recap of the 2 announcements this week

So two things: number one, if you are on the Apple phone IOS get a copy of our new app. If you're on Android just got to wait a tiny bit longer but it's coming. Point number two, make sure you register for the webinar that I'm going to be holding this week and get the start time correct in your loca...]]>250falsefullhttps://www.spreaker.com/episode/414-it-s-time-to-get-real--45185743
Podcast:

#414: It’s Time to Get Real
In this video:
00:23 – Keep it real
01:04 – We fail to recognise the effort required to succeed
01:32 – A trading example
03:22 – You need to understand the market
04:42 – You need dedication and hard work

As a Forex trader, you need to learn to get real. Let me explain more right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 414.

Keep it real

Now, this is going to be all about getting real, keeping it real with your expectations. So, what we see online is everybody's success. We see lots of money being made in trading. If we're into sports, we see great sports men, great sports women out there having success, scoring the runs, taking the wickets in their cricket, winning grand slams in tennis, scoring tries in rugby, scoring the goals in soccer.

With musicians, we see the great guitarists, the amazing singers, the drummer, all those type of things. We all see their success and we go, "Wow, wouldn't it be amazing too?"

We fail to recognise the effort required to succeed

But the problem is, is we don't see the hard work, the blood, sweat, tears, the dedications, their failures, their commitments behind the scenes to get to that level of success. Trading is no different. Trading does take work, dedication, commitment to learn how to do this properly. It is no different from being a fantastic singer or tennis player or whatever it is that you follow.

A trading example

A great example of that was something that I got sent just yesterday. Someone sent me a link to this Expert Advisor, so this robot that trades gold. I looked at it briefly and I thought, "That looks okay," and it had some quite good success. It was up 22% by taking these buy trades automatically on gold. Now this morning my time, which is now Friday, the 4th of June, gold has crashed. It's dropped quite a lot overnight, had a big fall. Biggest fall it's had in quite a long time. I looked at the results of this Expert Advisor this morning, it's now on its equity at 3.4% from mid-20s just yesterday. So, it's had about a 19% drawdown just today.

Now the reality is, is you cannot absorb that, and so unfortunately most people won't see that, they'll just see it as ... they won't see it's an equity drawdown, and so they won't understand what they're looking for. So they think they can pay their $200 and off they go and this thing's going to magically trade for them, but there's no work involved in that, there's no understanding involved in that. That's the downside when you make things too easy.

So I just wanted to highlight that, because I've seen it just an hour ago. Looked at the updated results and it's crashed. So, the problem is with that is they are not understanding the basic principles of trading, they're not understanding controlled risk, because those trades on that Expert Advisor, they're still open. If gold crashes again today and next week when you're watching this video, that 19% drawdown could be 20%, 30%, 40% drawdown, who knows. That's the problem when you don't know what you're doing or you're relying on someone else and you don't know how their system works.

You need to understand the market

So, the whole let's get real thing, you've got to understand the market. Now to be perfectly honest, we've had a pretty tough last few weeks on most of our charts. The market has not been kind to us, but we have very low controlled drawdowns and we have low-risk on our trades. We've seen personally the longer timeframes, the weekly and the monthly charts and the short timeframes, the one,]]>https://theforextradingcoach.com/?p=13863Sun, 06 Jun 2021 11:55:07 +0000Andrew MitchemIt’s Time to Get Real  Podcast: #414: It’s Time to Get Real In this video: 00:23 – Keep it real 01:04 – We fail to recognise the effort required to succeed 01:32 – A trading example 03:22 – You need to understand the market 04:42 – You...
Podcast:

#414: It’s Time to Get Real
In this video:
00:23 – Keep it real
01:04 – We fail to recognise the effort required to succeed
01:32 – A trading example
03:22 – You need to understand the market
04:42 – You need dedication and hard work

As a Forex trader, you need to learn to get real. Let me explain more right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 414.

Keep it real

Now, this is going to be all about getting real, keeping it real with your expectations. So, what we see online is everybody's success. We see lots of money being made in trading. If we're into sports, we see great sports men, great sports women out there having success, scoring the runs, taking the wickets in their cricket, winning grand slams in tennis, scoring tries in rugby, scoring the goals in soccer.

With musicians, we see the great guitarists, the amazing singers, the drummer, all those type of things. We all see their success and we go, "Wow, wouldn't it be amazing too?"

We fail to recognise the effort required to succeed

But the problem is, is we don't see the hard work, the blood, sweat, tears, the dedications, their failures, their commitments behind the scenes to get to that level of success. Trading is no different. Trading does take work, dedication, commitment to learn how to do this properly. It is no different from being a fantastic singer or tennis player or whatever it is that you follow.

A trading example

A great example of that was something that I got sent just yesterday. Someone sent me a link to this Expert Advisor, so this robot that trades gold. I looked at it briefly and I thought, "That looks okay," and it had some quite good success. It was up 22% by taking these buy trades automatically on gold. Now this morning my time, which is now Friday, the 4th of June, gold has crashed. It's dropped quite a lot overnight, had a big fall. Biggest fall it's had in quite a long time. I looked at the results of this Expert Advisor this morning, it's now on its equity at 3.4% from mid-20s just yesterday. So, it's had about a 19% drawdown just today.

Now the reality is, is you cannot absorb that, and so unfortunately most people won't see that, they'll just see it as ... they won't see it's an equity drawdown, and so they won't understand what they're looking for. So they think they can pay their $200 and off they go and this thing's going to magically trade for them, but there's no work involved in that, there's no understanding involved in that. That's the downside when you make things too easy.

So I just wanted to highlight that, because I've seen it just an hour ago. Looked at the updated results and it's crashed. So, the problem is with that is they are not understanding the basic principles of trading, they're not understanding controlled risk, because those trades on that Expert Advisor, they're still open. If gold crashes again today and next week when you're watching this video, that 19% drawdown could be 20%, 30%, 40% drawdown, who knows. That's the problem when you don't know what you're doing or you're relying on someone else and you don't know how their system works.

You need to understand the market

So, the whole let's get real thing, you've got to understand the market. Now to be perfectly honest, we've had a pretty tough last few weeks on most of our charts. The market has not been kind to us, but we have very low controlled drawdowns and we have low-risk on our trades. We've seen personally the longer timeframes, the weekly and the monthly charts and the short timeframes, the one,]]>362falsefullhttps://www.spreaker.com/episode/413-how-to-increase-the-reward-risk-of-your-trades--45097477
Podcast:

#413: How to Increase the Reward:Risk of Your Trades
In this video:
00:29 – An easy technique which will increase your profits
00:53 – Most traders focus only on Win Rates
01:52 – How do you achieve high R:R trades?
02:24 – Using Limit Orders
03:49 – A real time example from the USD/JPY D1 chart
05:23 – A lower win rate but make massive gains
05:44 – My June FX Insiders Webinar – email me if you’d like to join me

I'm going to explain to you how you can increase the reward to risk of your trades by using limit orders. It's a very important part of your trading success. Let's get into that and more right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 413.

An easy technique which will increase your profits

Now I want to explain to you a very easy technique to increase the reward to risk of your trades, and by increasing the reward to risk of your trades, that is a massive step forward for you to become a profitable Forex trader. Now, when people start trading, they probably don't value how important that is.

Most traders focus only on Win Rates

Most people seem to think about win rates and I get emails all the time saying, "Hey Andrew, what's your win rate." Or, "If I took daily charts, what's your win rate or one hour charts does that increase my win rate?" And the problem with win rate, although it might feel very nice and warm and fuzzy to say, "I've got nine out of 10 trades correct." The problem is with most people that I've ever seen that have very high win rates is their reward to risk on the trades is very small and all they need is say, one out of 10 trades to go wrong, and it's wiped out all the gains that they've made from the other nine profitable trades.

So, having a win rate of let's say 90%, really doesn't mean a lot. And most people that I've seen over all the years of trading, actually lose money, bigger picture when they have high win rates. Although for most new people, it sounds like it's the most important thing. It really is not. High reward to risk is what counts.

How do you achieve high R:R trades?

But how do you do that, and how to do that in a practical, easy way? Well, some people might look at that and go, "Okay, to get a high reward out of my trade. I must have a very, very small stop loss. And every so often, you pull off a winning trade and it makes a high reward to risk." And you could do that if you really wanted to. The problem is your win rate on that will be very, very small because most of the time with a very small stop loss, your spreads or news announcements or something is going to take the trade out and you'll just end up losing so many trades.

Using Limit Orders

The easy way around it, and it's what we've done for years and years, is to use limit orders. So when you look at your charts, you can place a trade at the market, which means you're jumping in right now. You can use stop orders, which means on a buy stop, it means that you are putting a by trade in above the current price. Not really so good for high reward to risk. It's okay if you want to break out of a zone, let's say.

But the trade that we use are limit orders. So I'm using a buy limit means here's the price right now. I like my setup, but I'm buying when the price goes lower than where it currently is. And it doesn't mean to say, you need to sit there, just watching for the price to drop, drop, drop. "Oh yeah, I'm going to press buy now." You don't do that at all. You see your setup that you like as a trade and you then, using the way that we trade, using fib levels, et cetera, we then put in a buy limit to buy the trade if the price drops to a certai...]]>https://theforextradingcoach.com/?p=13826Sun, 30 May 2021 11:55:25 +0000Andrew MitchemHow to Increase the Reward:Risk of Your Trades  Podcast: #413: How to Increase the Reward:Risk of Your Trades In this video: 00:29 – An easy technique which will increase your profits 00:53 – Most traders focus only on Win Rates 01:52 –...
Podcast:

#413: How to Increase the Reward:Risk of Your Trades
In this video:
00:29 – An easy technique which will increase your profits
00:53 – Most traders focus only on Win Rates
01:52 – How do you achieve high R:R trades?
02:24 – Using Limit Orders
03:49 – A real time example from the USD/JPY D1 chart
05:23 – A lower win rate but make massive gains
05:44 – My June FX Insiders Webinar – email me if you’d like to join me

I'm going to explain to you how you can increase the reward to risk of your trades by using limit orders. It's a very important part of your trading success. Let's get into that and more right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 413.

An easy technique which will increase your profits

Now I want to explain to you a very easy technique to increase the reward to risk of your trades, and by increasing the reward to risk of your trades, that is a massive step forward for you to become a profitable Forex trader. Now, when people start trading, they probably don't value how important that is.

Most traders focus only on Win Rates

Most people seem to think about win rates and I get emails all the time saying, "Hey Andrew, what's your win rate." Or, "If I took daily charts, what's your win rate or one hour charts does that increase my win rate?" And the problem with win rate, although it might feel very nice and warm and fuzzy to say, "I've got nine out of 10 trades correct." The problem is with most people that I've ever seen that have very high win rates is their reward to risk on the trades is very small and all they need is say, one out of 10 trades to go wrong, and it's wiped out all the gains that they've made from the other nine profitable trades.

So, having a win rate of let's say 90%, really doesn't mean a lot. And most people that I've seen over all the years of trading, actually lose money, bigger picture when they have high win rates. Although for most new people, it sounds like it's the most important thing. It really is not. High reward to risk is what counts.

How do you achieve high R:R trades?

But how do you do that, and how to do that in a practical, easy way? Well, some people might look at that and go, "Okay, to get a high reward out of my trade. I must have a very, very small stop loss. And every so often, you pull off a winning trade and it makes a high reward to risk." And you could do that if you really wanted to. The problem is your win rate on that will be very, very small because most of the time with a very small stop loss, your spreads or news announcements or something is going to take the trade out and you'll just end up losing so many trades.

Using Limit Orders

The easy way around it, and it's what we've done for years and years, is to use limit orders. So when you look at your charts, you can place a trade at the market, which means you're jumping in right now. You can use stop orders, which means on a buy stop, it means that you are putting a by trade in above the current price. Not really so good for high reward to risk. It's okay if you want to break out of a zone, let's say.

But the trade that we use are limit orders. So I'm using a buy limit means here's the price right now. I like my setup, but I'm buying when the price goes lower than where it currently is. And it doesn't mean to say, you need to sit there, just watching for the price to drop, drop, drop. "Oh yeah, I'm going to press buy now." You don't do that at all. You see your setup that you like as a trade and you then, using the way that we trade, using fib levels, et cetera, we then put in a buy limit to buy the trade if the price drops to a certai...]]>402falsefullhttps://www.spreaker.com/episode/412-achieving-great-trading-results--44998427
Podcast:

#412: Achieving Great Trading Results
In this video:
00:24 – At the airport today
01:13 – Sharing comments from clients
01:42 – XAU/USD MN1 trade closes for 10.1:1 Reward:Risk
02:14 – Weekly Oil trades hit profit targets
02:35 – Webinar with clients and profitable trades
03:30 – We offer daily trade suggestions to follow
04:11 – Another client makes fantastic gains
04:42 – Contact me andrew@theforextradingcoach.com

Forex traders, all we want is results, isn't it? Let's talk about how we are achieving results and how our clients are achieving great results right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 412.

At the airport today

And as you can see, I'm at the airport, just been for a fly here and right behind me, we're about to get an Air New Zealand plane taking off. So, it may get a little bit noisy. I've just come inside the hangar. Now with results for me, that's what pays for this. Trading results pays for this, and without trading results, I can't make that thing fly. I couldn't have learned to fly without trading because of time to be able to learn to fly. I certainly couldn't put fuel in it. And that's one of my reasons why I trade, because I love to fly.

And for you, it may be different. It may be time off. It may be time with the family, whatever it is, but you've got to get results. That's the important thing.

Sharing comments from clients

And I just want to share with you an email that came through last week from Sean, one of our clients, and he said, "Andrew, I've had a 8.44% gain this week, 11% for the month so far. Loving following the forum and the daily trade suggestions, helps cut out the leg work, which is good when you have limited time. Have a great weekend, Sean." So that's an 8.44% gain by Sean there and just shows what can be achieved.

XAU/USD MN1 trade closes for 10.1:1 Reward:Risk

We've had trades on our gold trade. Our monthly gold trade has just closed for a 10.1 reward to risk. Do you know that's one of the very highest reward to risk trades I've ever had personally? Half percent risk on that equals a 5% gain on my account from that one trade that took literally about 30 seconds to place. That plane will be taking off shortly behind me here, so it's going to get touch noisy for a second. We'll just let that plane go. And he's on the way now, so I can talk about more trades. Yeah.

Weekly Oil trades hit profit targets

We've had some oil trades that have done tremendously well. I don't trade oil very often, but if you look back on your charts, back in around the middle of April, WTI West Texas and Brent crude oil, both were really, really good trades, had great profit on them. One made a 3.7 to one rewards risks. One made a 3.5. So that's gone nicely as well.

Webinar with clients and profitable trades

Yesterday, I had a webinar with a client. They had a 12 hour chart trade, hit full profit on the Aussie Canadian. Yesterday, we mentioned a six hour chart trade for our clients on the pound US, which worked. We've had clients taking four hour charts that work. The beauty of this is, is it works regardless of the pair, regardless of the timeframe chart you are trading. We looked at the US dollar index. Again, not something we normally trade, but you look at Monday's candle or Friday's candle for Monday of this week on the US dollar index, it worked a treat. It works beautifully because the pattern is what works. We look for reversal patterns or we look for continuation patterns. That's all we're looking for.]]>https://theforextradingcoach.com/?p=13815Sun, 23 May 2021 12:00:07 +0000Andrew MitchemAchieving Great Trading Results  Podcast: #412: Achieving Great Trading Results In this video: 00:24 – At the airport today 01:13 – Sharing comments from clients 01:42 – XAU/USD MN1 trade closes for 10.1:1 Reward:Risk 02:14 – Weekly Oil...
Podcast:

#412: Achieving Great Trading Results
In this video:
00:24 – At the airport today
01:13 – Sharing comments from clients
01:42 – XAU/USD MN1 trade closes for 10.1:1 Reward:Risk
02:14 – Weekly Oil trades hit profit targets
02:35 – Webinar with clients and profitable trades
03:30 – We offer daily trade suggestions to follow
04:11 – Another client makes fantastic gains
04:42 – Contact me andrew@theforextradingcoach.com

Forex traders, all we want is results, isn't it? Let's talk about how we are achieving results and how our clients are achieving great results right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 412.

At the airport today

And as you can see, I'm at the airport, just been for a fly here and right behind me, we're about to get an Air New Zealand plane taking off. So, it may get a little bit noisy. I've just come inside the hangar. Now with results for me, that's what pays for this. Trading results pays for this, and without trading results, I can't make that thing fly. I couldn't have learned to fly without trading because of time to be able to learn to fly. I certainly couldn't put fuel in it. And that's one of my reasons why I trade, because I love to fly.

And for you, it may be different. It may be time off. It may be time with the family, whatever it is, but you've got to get results. That's the important thing.

Sharing comments from clients

And I just want to share with you an email that came through last week from Sean, one of our clients, and he said, "Andrew, I've had a 8.44% gain this week, 11% for the month so far. Loving following the forum and the daily trade suggestions, helps cut out the leg work, which is good when you have limited time. Have a great weekend, Sean." So that's an 8.44% gain by Sean there and just shows what can be achieved.

XAU/USD MN1 trade closes for 10.1:1 Reward:Risk

We've had trades on our gold trade. Our monthly gold trade has just closed for a 10.1 reward to risk. Do you know that's one of the very highest reward to risk trades I've ever had personally? Half percent risk on that equals a 5% gain on my account from that one trade that took literally about 30 seconds to place. That plane will be taking off shortly behind me here, so it's going to get touch noisy for a second. We'll just let that plane go. And he's on the way now, so I can talk about more trades. Yeah.

Weekly Oil trades hit profit targets

We've had some oil trades that have done tremendously well. I don't trade oil very often, but if you look back on your charts, back in around the middle of April, WTI West Texas and Brent crude oil, both were really, really good trades, had great profit on them. One made a 3.7 to one rewards risks. One made a 3.5. So that's gone nicely as well.

Webinar with clients and profitable trades

Yesterday, I had a webinar with a client. They had a 12 hour chart trade, hit full profit on the Aussie Canadian. Yesterday, we mentioned a six hour chart trade for our clients on the pound US, which worked. We've had clients taking four hour charts that work. The beauty of this is, is it works regardless of the pair, regardless of the timeframe chart you are trading. We looked at the US dollar index. Again, not something we normally trade, but you look at Monday's candle or Friday's candle for Monday of this week on the US dollar index, it worked a treat. It works beautifully because the pattern is what works. We look for reversal patterns or we look for continuation patterns. That's all we're looking for.]]>329falsefullhttps://www.spreaker.com/episode/411-can-i-borrow-800k-from-you-for-3-months--44850905
Podcast:

#410: Can I Borrow $800k from You for 3 Months?
In this video:
00:37 – A conversation with my bank manager yesterday
01:00 – An investor with $800k and didn’t know what to do with it
01:48 – Do traditional investments still work today?
02:09 – How is our trading going?
02:55 – Don’t forget our manual trading and webinars
03:37 – What to do with your investments?

If you've got a spare $800,000 lying around, not sure what to do with it, can I borrow it for the next three months and give you $180 at the end of that, plus your money back? Does that sound a good deal or not? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 411.

Now, if you're watching the video, apologies for the red eye, got an infection. If you're listening on the podcast, lucky you.

A conversation with my bank manager yesterday

I want to talk about a phone call that I had with my bank manager yesterday. True story. He phoned me yesterday, we were talking about our own mortgage rates, and while in two years are coming down slightly, a little bit lower, three to five year mortgage rates in New Zealand are going up slightly. But of course he knows what I do and we were talking about trading, et cetera. And he said, "Andrew, I need to tell you this.

An investor with $800k and didn’t know what to do with it

I had a guy come to me a few weeks ago with $800,000, just spare change, not sure what to do with it, doesn't know what he's going to do to invest it in." And he took the decision, this guy to invest it in a term deposit for the next three months, because the term deposits in New Zealand have actually gone up slightly. They've gone from basically nothing to not much better. So, they've gone up a tiny, tiny amount.

The interesting thing was the bank manager said to me, he said, "In three months' time, time this guy pays a bit of tax on his gains, his term deposit in three months on $800,000 will have made him $180.

Do traditional investments still work today?

That is all." It just goes to show that traditional ways of thinking and investing are not really in today's environment doing anybody any favours because let's face it. If you had 800 grand to go and invest somewhere, and you're going to get $180 back in three months, that's going backwards in time the time you add inflation and everything else into it.

How is our trading going?

He asked me how my trading was going and I said to him that with our pattern trader software, we've got clients right now, we've got two on the top leaderboard that are over 75% this year on live accounts. 75% with small draw downs as well. I also told them about our echo trade copier, which I run on my own pattern trader bots and echo trade copier means that you can copy my live account completely automatically. Right now it's up 24.5% and it started at the end of February, which is what? 10 weeks ago. So, 24.5%, draw down of 5%. So that's what we're doing.

Don’t forget our manual trading and webinars

Of course, then we've got our manual trading going on as well. Just last night, Paul, over in the US held a live webinar and there was a lady on there, Rose, who took three trades on the two hour charts. One got stopped out, the other two made profit. Just people are making profit all the time. We've got some great monthly chart trades going on, gold heading up, and we've got a couple on oil, WTI and Brend oil on the weekly charts that are moving up almost at the profit target.]]>https://theforextradingcoach.com/?p=13785Sun, 16 May 2021 11:55:54 +0000Andrew MitchemCan I Borrow $800k from You for 3 Months?  Podcast: #410: Can I Borrow $800k from You for 3 Months? In this video: 00:37 – A conversation with my bank manager yesterday 01:00 – An investor with $800k and didn’t know what to do with it...
Podcast:

#410: Can I Borrow $800k from You for 3 Months?
In this video:
00:37 – A conversation with my bank manager yesterday
01:00 – An investor with $800k and didn’t know what to do with it
01:48 – Do traditional investments still work today?
02:09 – How is our trading going?
02:55 – Don’t forget our manual trading and webinars
03:37 – What to do with your investments?

If you've got a spare $800,000 lying around, not sure what to do with it, can I borrow it for the next three months and give you $180 at the end of that, plus your money back? Does that sound a good deal or not? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 411.

Now, if you're watching the video, apologies for the red eye, got an infection. If you're listening on the podcast, lucky you.

A conversation with my bank manager yesterday

I want to talk about a phone call that I had with my bank manager yesterday. True story. He phoned me yesterday, we were talking about our own mortgage rates, and while in two years are coming down slightly, a little bit lower, three to five year mortgage rates in New Zealand are going up slightly. But of course he knows what I do and we were talking about trading, et cetera. And he said, "Andrew, I need to tell you this.

An investor with $800k and didn’t know what to do with it

I had a guy come to me a few weeks ago with $800,000, just spare change, not sure what to do with it, doesn't know what he's going to do to invest it in." And he took the decision, this guy to invest it in a term deposit for the next three months, because the term deposits in New Zealand have actually gone up slightly. They've gone from basically nothing to not much better. So, they've gone up a tiny, tiny amount.

The interesting thing was the bank manager said to me, he said, "In three months' time, time this guy pays a bit of tax on his gains, his term deposit in three months on $800,000 will have made him $180.

Do traditional investments still work today?

That is all." It just goes to show that traditional ways of thinking and investing are not really in today's environment doing anybody any favours because let's face it. If you had 800 grand to go and invest somewhere, and you're going to get $180 back in three months, that's going backwards in time the time you add inflation and everything else into it.

How is our trading going?

He asked me how my trading was going and I said to him that with our pattern trader software, we've got clients right now, we've got two on the top leaderboard that are over 75% this year on live accounts. 75% with small draw downs as well. I also told them about our echo trade copier, which I run on my own pattern trader bots and echo trade copier means that you can copy my live account completely automatically. Right now it's up 24.5% and it started at the end of February, which is what? 10 weeks ago. So, 24.5%, draw down of 5%. So that's what we're doing.

Don’t forget our manual trading and webinars

Of course, then we've got our manual trading going on as well. Just last night, Paul, over in the US held a live webinar and there was a lady on there, Rose, who took three trades on the two hour charts. One got stopped out, the other two made profit. Just people are making profit all the time. We've got some great monthly chart trades going on, gold heading up, and we've got a couple on oil, WTI and Brend oil on the weekly charts that are moving up almost at the profit target.]]>304falsefullhttps://www.spreaker.com/episode/410-12-years-of-helping-traders-will-you-be-next--44712214
Podcast:

#410: 12 Years of Helping Traders, Will You be Next?
In this video:
00:38 – Trading is not easy
01:10 – We celebrate 12 years of helping traders worldwide
02:06 – Trader makes 6% gain in 2 weeks since joining us
03:18 – The strategy has not changed since the beginning
04:45 – How does this help you?
05:45 – After the first 12 months
07:10 – Trade in 30 minutes per day

We've been helping traders just like yourself for the last 12 years now. Let's see how we can help you to become a profitable and successful and independent Forex trader. Listen up, we've got some great news to share with you.

Hey, traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 410.

Back outside again today. I'm getting lots of nice comments from people saying they're enjoying the outside video. So here we are again by the pool today.

Trading is not easy

Now, trading is not easy. It's something that's made out to be easy, but the reality is it's not easy. The reality is though that anybody can do it. And I'm living proof of that, having been a dairy farmer years ago. And I'm self-taught. I have no financial background in the markets at all. Completely self-taught.

But for the last 16, 17 years now, I've been trading the Forex market.

We celebrate 12 years of helping traders worldwide

And on Thursday, the 13th of May, we celebrate 12 years since I flew across to Australia to Noosa and taught my first ever client over there. We're still in touch, still in contact, and he's still trading. And after 12 years, we're really proud to say that we have helped so many people around the world. We've got over 3,000 coaching clients who have been through the course in over 94 countries. That's quite an amazing record that we've built up there of helping people.

As mentioned, the Forex market is not easy to trade. It really is not easy to trade. It looks easy. People will tell you it's easy. The internet will tell you it's easy. The reality is very different, and that's why 90 to 95% of the people lose money.

Trader makes 6% gain in 2 weeks since joining us

But I'd like to share with you an email here, and it's from a client who ... We were on our last live webinar last night. I held a two-hour live European session webinar. The client's called Henry. He's been with us only two weeks. And he said to me, "Hey, Andrew, I've made 6% since joining you two weeks ago." He said, "For the first time ever, I'm starting to understand what I'm doing, and I'm doing what I'm doing for a reason. And it's working."

Now, sure, it's only two weeks in, but here's a guy that's been trading for quite a while. Like many of you, he was just literally tearing his hair out. Didn't know what to do next. And he found us and he's been on a few webinars now. He's been following our trades, he's on our forum site. And in only two weeks, he's now made, since beginning, since starting with us, 6%. It's a fantastic start and it just shows what can be achieved once you know you're doing, once you have a clear understanding of what you're doing, and you have some support and a system and a strategy that actually works.

The strategy has not changed since the beginning

When you think about it, the strategy has not changed at all in that time. In all those years, it's not changed. Sure, the way that we deliver things has changed, it's improved. Like everything, it evolves, it gets better and better over time. But the strategy, the main thing that you are getting when you join us here,]]>https://theforextradingcoach.com/?p=13757Sat, 08 May 2021 23:55:10 +0000Andrew Mitchem12 Years of Helping Traders, Will You be Next?  Podcast: #410: 12 Years of Helping Traders, Will You be Next? In this video: 00:38 – Trading is not easy 01:10 – We celebrate 12 years of helping traders worldwide 02:06 – Trader makes 6%...
Podcast:

#410: 12 Years of Helping Traders, Will You be Next?
In this video:
00:38 – Trading is not easy
01:10 – We celebrate 12 years of helping traders worldwide
02:06 – Trader makes 6% gain in 2 weeks since joining us
03:18 – The strategy has not changed since the beginning
04:45 – How does this help you?
05:45 – After the first 12 months
07:10 – Trade in 30 minutes per day

We've been helping traders just like yourself for the last 12 years now. Let's see how we can help you to become a profitable and successful and independent Forex trader. Listen up, we've got some great news to share with you.

Hey, traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 410.

Back outside again today. I'm getting lots of nice comments from people saying they're enjoying the outside video. So here we are again by the pool today.

Trading is not easy

Now, trading is not easy. It's something that's made out to be easy, but the reality is it's not easy. The reality is though that anybody can do it. And I'm living proof of that, having been a dairy farmer years ago. And I'm self-taught. I have no financial background in the markets at all. Completely self-taught.

But for the last 16, 17 years now, I've been trading the Forex market.

We celebrate 12 years of helping traders worldwide

And on Thursday, the 13th of May, we celebrate 12 years since I flew across to Australia to Noosa and taught my first ever client over there. We're still in touch, still in contact, and he's still trading. And after 12 years, we're really proud to say that we have helped so many people around the world. We've got over 3,000 coaching clients who have been through the course in over 94 countries. That's quite an amazing record that we've built up there of helping people.

As mentioned, the Forex market is not easy to trade. It really is not easy to trade. It looks easy. People will tell you it's easy. The internet will tell you it's easy. The reality is very different, and that's why 90 to 95% of the people lose money.

Trader makes 6% gain in 2 weeks since joining us

But I'd like to share with you an email here, and it's from a client who ... We were on our last live webinar last night. I held a two-hour live European session webinar. The client's called Henry. He's been with us only two weeks. And he said to me, "Hey, Andrew, I've made 6% since joining you two weeks ago." He said, "For the first time ever, I'm starting to understand what I'm doing, and I'm doing what I'm doing for a reason. And it's working."

Now, sure, it's only two weeks in, but here's a guy that's been trading for quite a while. Like many of you, he was just literally tearing his hair out. Didn't know what to do next. And he found us and he's been on a few webinars now. He's been following our trades, he's on our forum site. And in only two weeks, he's now made, since beginning, since starting with us, 6%. It's a fantastic start and it just shows what can be achieved once you know you're doing, once you have a clear understanding of what you're doing, and you have some support and a system and a strategy that actually works.

The strategy has not changed since the beginning

When you think about it, the strategy has not changed at all in that time. In all those years, it's not changed. Sure, the way that we deliver things has changed, it's improved. Like everything, it evolves, it gets better and better over time. But the strategy, the main thing that you are getting when you join us here,]]>470falsefullhttps://www.spreaker.com/episode/409-my-aims-goals-as-a-forex-trader--44594489
Podcast:

#409 My Aims & Goals as a Forex Trader
In this video:
00:26 – Matt asked about my trading journey and goals
01:29 – Went to Auckland to take a Forex Course
02:05 – Anyone can become a trader if you really want to
03:03 – I developed a strategy and system that works for me
03:38 – Daily trades have been profitable every year
04:33 – Our team at TFTC
05:22 – Going forward from today
07:00 – TFTC Pattern Trader continues to achieve great results
08:55 – Ask me questions and register for our 12th Birthday Sale

Let me show you my aims and goals as a Forex trader over the next five to 10 years. And hopefully it might help you with your own goals. Let's get into it right now.

Hey, Forex traders, it is Andrew Mitchem here at the Forex Trading Coach with the video and podcast number 409.

Matt asked about my trading journey and goals

Now on last week's video, I got asked by a trader called Matt on YouTube, to explain about my trading journey to date, and also to explain a little bit about my own personal trading goals over the next five to 10 years. So, I started trading completely by accident around nearly 17 years ago. At the time I was a dairy farmer and I was milking cows, working seven days a week and ended up going through a divorce. And at the time had a two year old son. And to be honest, I didn't really know what I was going to do in order to look after him, have an income.

And so I stumbled into trading completely by accident after hearing an ad on the radio all those years ago. And it kind of evolved from there to be honest. It wasn't a deliberate move. It really was an accidental move, but as someone who'd always been, I suppose, self-employed, motivated, to me, it seemed like a really, really good thing to do.

Went to Auckland to take a Forex Course

So I went along up to Auckland, paid about $5,000 back then, which was a lot of money and did a course up there in Auckland. And the course, it was okay. But it got me into trading, and so here we are 17 years later and we've developed the Forex Trading Coach. We developed Pattern Trader. We've now got a new Echo Trade Copier, and things have changed massively and for the better. And I've got Forex trading, a lot of hard work, a lot of dedication, a lot of fails and some gains, to thank for that.

Anyone can become a trader if you really want to

And so Matt, thank you for your question because I think the important part out of this is that anybody can become a trader if you really want to. Now, realistically, it took me four years of trial and error, basically getting nowhere fast, of trying every single service, every PDF it was back then, that you could download every indicator, every expert advisor, every everything, basically, every forum I'd been on, and it just went round and round and round in circles. Anyway, so after four years, I thought, Andrew, you need to fix this. You need to make this work or you need to find a new hobby. And so I took everything off my charts and I made it work. I developed a system, a strategy that worked for me, and also one that didn't require me sitting at the computer all day and night.

And that was the other thing, there's so many strategies out there with scalping and things that all look really, really cool. But really they're not long-term, practical and enjoyable.

I developed a strategy and system that works for me

So, I developed a strategy and system that works for me, and I've been now teaching that strategy and trading it myself. I've been teaching it for 12 years now at the Forex Trading Coach.]]>https://theforextradingcoach.com/?p=13704Sun, 02 May 2021 11:50:38 +0000Andrew MitchemMy Aims & Goals as a Forex Trader  Podcast: #409 My Aims & Goals as a Forex Trader In this video: 00:26 – Matt asked about my trading journey and goals 01:29 – Went to Auckland to take a Forex Course 02:05 – Anyone can become a trader if...
Podcast:

#409 My Aims & Goals as a Forex Trader
In this video:
00:26 – Matt asked about my trading journey and goals
01:29 – Went to Auckland to take a Forex Course
02:05 – Anyone can become a trader if you really want to
03:03 – I developed a strategy and system that works for me
03:38 – Daily trades have been profitable every year
04:33 – Our team at TFTC
05:22 – Going forward from today
07:00 – TFTC Pattern Trader continues to achieve great results
08:55 – Ask me questions and register for our 12th Birthday Sale

Let me show you my aims and goals as a Forex trader over the next five to 10 years. And hopefully it might help you with your own goals. Let's get into it right now.

Hey, Forex traders, it is Andrew Mitchem here at the Forex Trading Coach with the video and podcast number 409.

Matt asked about my trading journey and goals

Now on last week's video, I got asked by a trader called Matt on YouTube, to explain about my trading journey to date, and also to explain a little bit about my own personal trading goals over the next five to 10 years. So, I started trading completely by accident around nearly 17 years ago. At the time I was a dairy farmer and I was milking cows, working seven days a week and ended up going through a divorce. And at the time had a two year old son. And to be honest, I didn't really know what I was going to do in order to look after him, have an income.

And so I stumbled into trading completely by accident after hearing an ad on the radio all those years ago. And it kind of evolved from there to be honest. It wasn't a deliberate move. It really was an accidental move, but as someone who'd always been, I suppose, self-employed, motivated, to me, it seemed like a really, really good thing to do.

Went to Auckland to take a Forex Course

So I went along up to Auckland, paid about $5,000 back then, which was a lot of money and did a course up there in Auckland. And the course, it was okay. But it got me into trading, and so here we are 17 years later and we've developed the Forex Trading Coach. We developed Pattern Trader. We've now got a new Echo Trade Copier, and things have changed massively and for the better. And I've got Forex trading, a lot of hard work, a lot of dedication, a lot of fails and some gains, to thank for that.

Anyone can become a trader if you really want to

And so Matt, thank you for your question because I think the important part out of this is that anybody can become a trader if you really want to. Now, realistically, it took me four years of trial and error, basically getting nowhere fast, of trying every single service, every PDF it was back then, that you could download every indicator, every expert advisor, every everything, basically, every forum I'd been on, and it just went round and round and round in circles. Anyway, so after four years, I thought, Andrew, you need to fix this. You need to make this work or you need to find a new hobby. And so I took everything off my charts and I made it work. I developed a system, a strategy that worked for me, and also one that didn't require me sitting at the computer all day and night.

And that was the other thing, there's so many strategies out there with scalping and things that all look really, really cool. But really they're not long-term, practical and enjoyable.

I developed a strategy and system that works for me

So, I developed a strategy and system that works for me, and I've been now teaching that strategy and trading it myself. I've been teaching it for 12 years now at the Forex Trading Coach.]]>556falsefullhttps://www.spreaker.com/episode/408-i-love-following-your-daily-trades--44477359
Podcast:

#408: I Love Following Your Daily Trades
In this video:
00:29 – Client loves the course and the ability to learn and earn
00:55 – The problem almost everyone else faces
02:19 – This is why we are different
03:07 – Our Daily chart trade suggestions
04:24 – This gives you confidence
06:05 – If you haven’t joined us yet
06:43 – Have any topics for future videos and podcasts?

"I love following your daily trades as it is allowing me to learn, but also to earn." If you'd like to do that also, listen up. I've got some great news to share with you.

Hey traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 408.

Client loves the course and the ability to learn and earn

Now, that comment was from a client of ours called Jonathan, who's been with us for just over six months now. Jonathan sent me an email saying, "Look, I'm just loving the course, but what I love about it the most is being able to follow your daily trades because not only as I'm learning the course, I'm following along in real time what you're doing and why you're doing it, but your daily chart trades are making me money, and that's given me so much confidence."

The problem almost everyone else faces

When you think about the problem of most people out there in the Forex world, whether you start a new course or a strategy or a follow along on a forum, whatever it might be, you'll develop your own strategy, the problem is... Or there are many problems. The problem could be this, and you're going to find one of them. You're going to find that you've got no support. You don't really know what you're doing. You're not really sure who to ask if there's a question you have about the strategy or the concept. You're doing it alone. You're sat there taking the trade and you're doubting yourself. You're questioning whether this is the right trade to even take. Who do you ask? Who do you follow?

What almost always happens is that you'll end up with some doubt, some trades that get stopped out, you start losing money, you start losing confidence. Then you give up with that strategy or that system altogether, and you go out there and repeat the whole process again, looking for the next holy grail system, the next crystal ball of farts results and the strategy that's going to fix all your problems. This is the one that's going to solve everything.

Guess what, the whole cycle happens again. Eventually you just give up trading and you blame the market, you blame the broker, blame the strategy, blame everything, but the real issue is that you had no support or no strategy in the first place.

This is why we are different

That's what we do differently. That's why after nearly 12 years... By the way, we're celebrating our 12th birthday in May. We've helped over 3,000 clients and traders from 94 countries over those last 12 years. So it's something we're immensely proud of.

But what makes it different are many things. We have the course, the strategy that works and continues to work and always has done on different timeframes, various payers, all sorts of things like that. The strategy is massively important. We have email support, lifetime support. We have trading software. We have our incredibly valuable forum site and live chat. We have our live weekly videos and webinars that we trade live in front of our clients and have Q&A sessions, et cetera. All of that is immensely important.

Our Daily chart trade suggestions

But the part that Jonathan picked up on that I like to talk about now is our daily trade suggesti...]]>https://theforextradingcoach.com/?p=13630Sun, 25 Apr 2021 11:45:09 +0000Andrew MitchemI Love Following Your Daily Trades  Podcast: #408: I Love Following Your Daily Trades In this video: 00:29 – Client loves the course and the ability to learn and earn 00:55 – The problem almost everyone else faces 02:19 – This is why we are...
Podcast:

#408: I Love Following Your Daily Trades
In this video:
00:29 – Client loves the course and the ability to learn and earn
00:55 – The problem almost everyone else faces
02:19 – This is why we are different
03:07 – Our Daily chart trade suggestions
04:24 – This gives you confidence
06:05 – If you haven’t joined us yet
06:43 – Have any topics for future videos and podcasts?

"I love following your daily trades as it is allowing me to learn, but also to earn." If you'd like to do that also, listen up. I've got some great news to share with you.

Hey traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 408.

Client loves the course and the ability to learn and earn

Now, that comment was from a client of ours called Jonathan, who's been with us for just over six months now. Jonathan sent me an email saying, "Look, I'm just loving the course, but what I love about it the most is being able to follow your daily trades because not only as I'm learning the course, I'm following along in real time what you're doing and why you're doing it, but your daily chart trades are making me money, and that's given me so much confidence."

The problem almost everyone else faces

When you think about the problem of most people out there in the Forex world, whether you start a new course or a strategy or a follow along on a forum, whatever it might be, you'll develop your own strategy, the problem is... Or there are many problems. The problem could be this, and you're going to find one of them. You're going to find that you've got no support. You don't really know what you're doing. You're not really sure who to ask if there's a question you have about the strategy or the concept. You're doing it alone. You're sat there taking the trade and you're doubting yourself. You're questioning whether this is the right trade to even take. Who do you ask? Who do you follow?

What almost always happens is that you'll end up with some doubt, some trades that get stopped out, you start losing money, you start losing confidence. Then you give up with that strategy or that system altogether, and you go out there and repeat the whole process again, looking for the next holy grail system, the next crystal ball of farts results and the strategy that's going to fix all your problems. This is the one that's going to solve everything.

Guess what, the whole cycle happens again. Eventually you just give up trading and you blame the market, you blame the broker, blame the strategy, blame everything, but the real issue is that you had no support or no strategy in the first place.

This is why we are different

That's what we do differently. That's why after nearly 12 years... By the way, we're celebrating our 12th birthday in May. We've helped over 3,000 clients and traders from 94 countries over those last 12 years. So it's something we're immensely proud of.

But what makes it different are many things. We have the course, the strategy that works and continues to work and always has done on different timeframes, various payers, all sorts of things like that. The strategy is massively important. We have email support, lifetime support. We have trading software. We have our incredibly valuable forum site and live chat. We have our live weekly videos and webinars that we trade live in front of our clients and have Q&A sessions, et cetera. All of that is immensely important.

Our Daily chart trade suggestions

But the part that Jonathan picked up on that I like to talk about now is our daily trade suggesti...]]>416falsefullhttps://www.spreaker.com/episode/407-trading-the-fx-market-hands-free--44375134
Podcast:

#407: Trading the FX Market Hands Free
In this video:
00:25 – Following on from TFTC Pattern Trader
00:49 – Introducing Echo Trade Copier
01:48 – No VPS, no software, and turn your computer off
02:22 – Excellent results in 2 months
03:35 – All results are 3rd party verified by MyFXBook
04:17 – Contact me if you have a topic you’d like me to talk about

Would you like to know about a way that produces results and allows you to trade the Forex market 100% hands-free? If you would, listen up.

Hey, Forex traders. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 407.

Following on from TFTC Pattern Trader

Now, following on from last week's video and podcast I made about our amazing trading bot software called TFTC Patent Trader, I've had a number of people say to me, "Hey, Andrew, look, I'd love to get the results and the returns that you get from trading the Forex market, but I just don't have the time or don't have the interest to really want to know how to trade. What is it that you can do to help us?" And so I have the perfect solution for you.

Introducing Echo Trade Copier

And it's our trade copier software called Echo Trade Copier. Now, what that allows you to do is to have your trading account in your own name, and it's completely independent of us. It's your trading account with your broker of choice, have that account traded and mirror my own account that I use through Patent Trader.

Now, it's an excellent way to allow you to gain some very, very high returns, but it also means that you don't have to do anything at all. It literally is a five setup process through independent third party software that basically links your account to mirror the trades that I take on my account. Now, you can still jump in and intervene and close trades or risk more or risk less, if you really want to, or we can just leave it alone to have it mirrored 100% the same as my own account.

No VPS, no software, and turn your computer off

Now, for that, it means that you don't need your computer on. You don't need any virtual server. You don't need any extra software. You don't need anything at all. No expert advisors. You don't need anything. All you do is just link the two accounts. It really is a simple process. All that included in that cost of the integration, it's just $84 U.S. per month. And most virtual server companies charge $30 to $40 a month. That's included in that fee.

And so we pay that for you as part of the $84 a month, and that just means that you then have everything copied across to your account.

Excellent results in 2 months

Now, this has been running for just two months, so it's fairly new, but the results are outstanding. So far, in the two months, we are at plus 22.5% in gain, with only a 5.8% drawdown. Now, it's really important that you understand that drawdown as well. It's all well and good having a 22.5% gain, but the trouble is so many people risk far too much and they have massive drawdowns, and they might have a 30%, 40% drawdown to gain the 20% profit. So the reality is, that's pretty tough to go through. What we find really important with our way of trading is our drawdowns are kept to a minimum. So right now 5.8% is the maximum drawdown you would have been if you had decided to join on the absolute worst day. And let's say you had a $10,000 account, your account would be down by $580, the absolute worst day over the last two months.

But if you had started at the beginning and you started with $10,000, you'd have been up, what's that, $2,250 so far in two months, 22.]]>https://theforextradingcoach.com/?p=13603Sat, 17 Apr 2021 23:59:21 +0000Andrew MitchemTrading the FX Market Hands Free  Podcast: #407: Trading the FX Market Hands Free In this video: 00:25 – Following on from TFTC Pattern Trader 00:49 – Introducing Echo Trade Copier 01:48 – No VPS, no software, and turn your computer off...
Podcast:

#407: Trading the FX Market Hands Free
In this video:
00:25 – Following on from TFTC Pattern Trader
00:49 – Introducing Echo Trade Copier
01:48 – No VPS, no software, and turn your computer off
02:22 – Excellent results in 2 months
03:35 – All results are 3rd party verified by MyFXBook
04:17 – Contact me if you have a topic you’d like me to talk about

Would you like to know about a way that produces results and allows you to trade the Forex market 100% hands-free? If you would, listen up.

Hey, Forex traders. It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 407.

Following on from TFTC Pattern Trader

Now, following on from last week's video and podcast I made about our amazing trading bot software called TFTC Patent Trader, I've had a number of people say to me, "Hey, Andrew, look, I'd love to get the results and the returns that you get from trading the Forex market, but I just don't have the time or don't have the interest to really want to know how to trade. What is it that you can do to help us?" And so I have the perfect solution for you.

Introducing Echo Trade Copier

And it's our trade copier software called Echo Trade Copier. Now, what that allows you to do is to have your trading account in your own name, and it's completely independent of us. It's your trading account with your broker of choice, have that account traded and mirror my own account that I use through Patent Trader.

Now, it's an excellent way to allow you to gain some very, very high returns, but it also means that you don't have to do anything at all. It literally is a five setup process through independent third party software that basically links your account to mirror the trades that I take on my account. Now, you can still jump in and intervene and close trades or risk more or risk less, if you really want to, or we can just leave it alone to have it mirrored 100% the same as my own account.

No VPS, no software, and turn your computer off

Now, for that, it means that you don't need your computer on. You don't need any virtual server. You don't need any extra software. You don't need anything at all. No expert advisors. You don't need anything. All you do is just link the two accounts. It really is a simple process. All that included in that cost of the integration, it's just $84 U.S. per month. And most virtual server companies charge $30 to $40 a month. That's included in that fee.

And so we pay that for you as part of the $84 a month, and that just means that you then have everything copied across to your account.

Excellent results in 2 months

Now, this has been running for just two months, so it's fairly new, but the results are outstanding. So far, in the two months, we are at plus 22.5% in gain, with only a 5.8% drawdown. Now, it's really important that you understand that drawdown as well. It's all well and good having a 22.5% gain, but the trouble is so many people risk far too much and they have massive drawdowns, and they might have a 30%, 40% drawdown to gain the 20% profit. So the reality is, that's pretty tough to go through. What we find really important with our way of trading is our drawdowns are kept to a minimum. So right now 5.8% is the maximum drawdown you would have been if you had decided to join on the absolute worst day. And let's say you had a $10,000 account, your account would be down by $580, the absolute worst day over the last two months.

But if you had started at the beginning and you started with $10,000, you'd have been up, what's that, $2,250 so far in two months, 22.]]>273falsefullhttps://www.spreaker.com/episode/406-how-to-create-profitable-forex-robots-in-2-minutes--44291230
Podcast:

#406: How to Create Profitable Forex Robots in 2 minutes
In this video:
00:29 – Creating bots in under 2 minutes
00:45 – TFTC Pattern Trader software
01:15 – My results for March
01:49 – How it works
02:28 – Leader board displaying the top 20 bots
03:22 – Signals arrive via Telegram
04:39 – Sign up for a 10 day trial
05:00 – Back test software and direct MT4 integration
05:38 – View the site for yourself http://tftcpatterntrader.com/

Would you like to know how to create profitable forex trading robots in just two minutes? If you would, listen up, I've got some fantastic news to share with you.

Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 406.

Creating bots in under 2 minutes

And that's right, you can now create profitable, real forex trading robots in under two minutes. Sounds a little bit far-fetched, doesn't it? But honestly, it is true. And we have created some software called TFTC Pattern Trader.

TFTC Pattern Trader software

It's software that we've been using now for almost one year. And up until now, pretty much everybody using it has been our forex coaching clients. But we are now in a position where we are able to offer this incredible trading software to the general public. So you don't need to be a Forex Trading Coach client in order to start to use this now, to benefit from it.

My results for March

So just some quick numbers, March completed with my bots that I am using myself a 14% gain on my live account. Pretty much hands free. This month, so far April and bear in mind most of it's been closed because of Easter and I closed off the bots just prior to Easter, just after Easter. So far right now, as I'm recording this on Friday, the 9th, I am up 4.5% on my trades. Again, pretty much hands free.

How it works

So the software quick description, first of all, it only uses my trading strategy. But you have the ability to create your own bots and you can literally create them by ticking a few boxes and then checking them for backtesting in under two minutes. It this quite incredible, like nothing else you would have seen. And the other thing you can do is you can use some of our ready-made bots.

You can use the exact same bot that I use myself, and I've made that 14% in March and currently up 4.5% so far in April, you can use exactly the same one. You can look at it, you can tweak it, you can add to it, you can do whatever it is you like.

Leader board displaying the top 20 bots

The other thing that we have is a leaderboard and the leaderboard displays our top 20 clients bots that they have created. And on the top 20, the lowest number 20 has had an actual return of almost 15, one fiver percent so far to date. The highest one so far has made 85%. Now, these are since their inception, they're not annual returns. The annual returns are likely to be significantly higher. The other important thing to notice though, of course, it's all well and good having great results. But the important thing to note is the drawdowns. And the drawdowns on almost all of the bots on the top 20 there are extremely low, most of them 5% and under. Yet they're getting results of 15% up to 85%.

So you can also follow along with those as well, if you wish to.

Signals arrive via Telegram

And we use a great piece of software, which you've probably heard of called Telegram. And what happens is when the bot creates a signal, it goes through to your Telegram on your phone or your computer.]]>https://theforextradingcoach.com/?p=13570Sun, 11 Apr 2021 11:59:38 +0000Andrew MitchemHow to Create Profitable Forex Robots in 2 minutes  Podcast: #406: How to Create Profitable Forex Robots in 2 minutes In this video: 00:29 – Creating bots in under 2 minutes 00:45 – TFTC Pattern Trader software 01:15 – My results for March...
Podcast:

#406: How to Create Profitable Forex Robots in 2 minutes
In this video:
00:29 – Creating bots in under 2 minutes
00:45 – TFTC Pattern Trader software
01:15 – My results for March
01:49 – How it works
02:28 – Leader board displaying the top 20 bots
03:22 – Signals arrive via Telegram
04:39 – Sign up for a 10 day trial
05:00 – Back test software and direct MT4 integration
05:38 – View the site for yourself http://tftcpatterntrader.com/

Would you like to know how to create profitable forex trading robots in just two minutes? If you would, listen up, I've got some fantastic news to share with you.

Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 406.

Creating bots in under 2 minutes

And that's right, you can now create profitable, real forex trading robots in under two minutes. Sounds a little bit far-fetched, doesn't it? But honestly, it is true. And we have created some software called TFTC Pattern Trader.

TFTC Pattern Trader software

It's software that we've been using now for almost one year. And up until now, pretty much everybody using it has been our forex coaching clients. But we are now in a position where we are able to offer this incredible trading software to the general public. So you don't need to be a Forex Trading Coach client in order to start to use this now, to benefit from it.

My results for March

So just some quick numbers, March completed with my bots that I am using myself a 14% gain on my live account. Pretty much hands free. This month, so far April and bear in mind most of it's been closed because of Easter and I closed off the bots just prior to Easter, just after Easter. So far right now, as I'm recording this on Friday, the 9th, I am up 4.5% on my trades. Again, pretty much hands free.

How it works

So the software quick description, first of all, it only uses my trading strategy. But you have the ability to create your own bots and you can literally create them by ticking a few boxes and then checking them for backtesting in under two minutes. It this quite incredible, like nothing else you would have seen. And the other thing you can do is you can use some of our ready-made bots.

You can use the exact same bot that I use myself, and I've made that 14% in March and currently up 4.5% so far in April, you can use exactly the same one. You can look at it, you can tweak it, you can add to it, you can do whatever it is you like.

Leader board displaying the top 20 bots

The other thing that we have is a leaderboard and the leaderboard displays our top 20 clients bots that they have created. And on the top 20, the lowest number 20 has had an actual return of almost 15, one fiver percent so far to date. The highest one so far has made 85%. Now, these are since their inception, they're not annual returns. The annual returns are likely to be significantly higher. The other important thing to notice though, of course, it's all well and good having great results. But the important thing to note is the drawdowns. And the drawdowns on almost all of the bots on the top 20 there are extremely low, most of them 5% and under. Yet they're getting results of 15% up to 85%.

So you can also follow along with those as well, if you wish to.

Signals arrive via Telegram

And we use a great piece of software, which you've probably heard of called Telegram. And what happens is when the bot creates a signal, it goes through to your Telegram on your phone or your computer.]]>394falsefullhttps://www.spreaker.com/episode/405-how-much-to-risk-per-trade-and-how-to-calculate-that-risk--44085023
Podcast:

#405: How Much to Risk per Trade and How to Calculate that Risk?
In this video:
00:29 – Email from a podcast listener
00:59 – How do you calculate your risk amount
01:20 – Download my MT4/MT5 Lot Size Calculator 
01:55 – The logic behind lot sizing]]>https://theforextradingcoach.com/?p=13537Sat, 27 Mar 2021 12:00:31 +0000Andrew MitchemHow Much to Risk per Trade and How to Calculate that Risk?  Podcast: #405: How Much to Risk per Trade and How to Calculate that Risk? In this video: 00:29 – Email from a podcast listener 00:59 – How do you calculate your risk amount 01:20 –...
Podcast:

#405: How Much to Risk per Trade and How to Calculate that Risk?
In this video:
00:29 – Email from a podcast listener
00:59 – How do you calculate your risk amount
01:20 – Download my MT4/MT5 Lot Size Calculator 
01:55 – The logic behind lot sizing]]>416falsefullhttps://www.spreaker.com/episode/404-thinking-of-giving-up-trading--43985270
Podcast:

#404: Thinking of Giving Up Trading?
In this video:
00:27 – Adolfo, a trader from Mexico
01:15 – He could see the benefits of trading
01:55 – Ready to give up?
02:15 – Adolfo found my weekly videos and podcasts
03:20 – You were different
03:43 – Our 3000th coaching client

This trader nearly quit the Forex world a couple of years ago, is now back into it and loving it. If you're in that position where you're thinking about giving up this video's for you, let's get into it.

Hey traders, this is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 404.

Adolfo, a trader from Mexico

I want to talk about a client of ours called Adolfo. Adolfo's from Mexico. Now he got to a stage a couple of years ago where he quit trading. And, he's only just got back into it but I want to give you a bit of a background about him first, because a lot of people would be in this very similar position. Now last week I sent out an email with the video that I had with Adolfo and I put a link on this video and podcast as well, so you can go and watch that if you've not already seen it, but the reason I want to talk about it again is because I've had so much feedback from people saying, look I'm in that position.

I've tried things, I've seen the merit in trading, I've seen the potential and Adolfo is exactly the same as you, if you're thinking this right now.

He could see the benefits of trading

He could see the merit of trading, he could see the benefits of trading, he could see it as a way of building his wealth. But he'd been to a trading school over in Mexico and it basically taught him nothing. He said he actually came out of it with more questions than answers. He just did not get what he wanted, he didn't get a strategy, he didn't get any common sense out of any mentors or tutors. And it just didn't feel that it was worth it, and he got disillusioned. And he'd spent a lot of money and committed a lot of time and it just wasn't working. So is that that stage, where he's, just ready to give up, just wasn't working.

Ready to give up?

And if you're in that position, you can relate to it. And we've all been there, I've been there as well, took me four years to really turn my trading around. And that's a long, long time. It's easy to say, Oh it just took me four years. But when you are in that situation, when you're in the middle of that, it is tough. And I'm sure that you can relate to that.

Adolfo found my weekly videos and podcasts

So, a few weeks ago, back on the 11th of February, just five weeks ago. Adolfo found my video and podcast, exactly like you're watching or listening to right now. He wrote to me, and he said, look I'm needing some help, I've been trying this, given up a couple of years ago, did this expense of school, wasn't working, what can you do to help?

And so Adolfo went on to one of my free webinars for the whole each week, and he saw what we did and saw that we're real people and real traders, and we've been doing this for nearly 12 years, and all the things that I talk about all the time, about a practical, real approach to trading and plus with the help and webinars and forums, et cetera, that we help our clients with all those different ways of trading. But it was the actual, real working, practical, approach to trading that Adolfo liked. So he jumped on board with us and you can see the video, I'll put a link on here, so you can go and watch it.

You were different

Now Adolfo said, and I'm going to quote what he said. He said, "Thank you for your honesty.]]>https://theforextradingcoach.com/?p=13508Sun, 21 Mar 2021 12:00:23 +0000Andrew MitchemThinking of Giving Up Trading?  Podcast: #404: Thinking of Giving Up Trading? In this video: 00:27 – Adolfo, a trader from Mexico 01:15 – He could see the benefits of trading 01:55 – Ready to give up? 02:15 – Adolfo found my weekly videos and...
Podcast:

#404: Thinking of Giving Up Trading?
In this video:
00:27 – Adolfo, a trader from Mexico
01:15 – He could see the benefits of trading
01:55 – Ready to give up?
02:15 – Adolfo found my weekly videos and podcasts
03:20 – You were different
03:43 – Our 3000th coaching client

This trader nearly quit the Forex world a couple of years ago, is now back into it and loving it. If you're in that position where you're thinking about giving up this video's for you, let's get into it.

Hey traders, this is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 404.

Adolfo, a trader from Mexico

I want to talk about a client of ours called Adolfo. Adolfo's from Mexico. Now he got to a stage a couple of years ago where he quit trading. And, he's only just got back into it but I want to give you a bit of a background about him first, because a lot of people would be in this very similar position. Now last week I sent out an email with the video that I had with Adolfo and I put a link on this video and podcast as well, so you can go and watch that if you've not already seen it, but the reason I want to talk about it again is because I've had so much feedback from people saying, look I'm in that position.

I've tried things, I've seen the merit in trading, I've seen the potential and Adolfo is exactly the same as you, if you're thinking this right now.

He could see the benefits of trading

He could see the merit of trading, he could see the benefits of trading, he could see it as a way of building his wealth. But he'd been to a trading school over in Mexico and it basically taught him nothing. He said he actually came out of it with more questions than answers. He just did not get what he wanted, he didn't get a strategy, he didn't get any common sense out of any mentors or tutors. And it just didn't feel that it was worth it, and he got disillusioned. And he'd spent a lot of money and committed a lot of time and it just wasn't working. So is that that stage, where he's, just ready to give up, just wasn't working.

Ready to give up?

And if you're in that position, you can relate to it. And we've all been there, I've been there as well, took me four years to really turn my trading around. And that's a long, long time. It's easy to say, Oh it just took me four years. But when you are in that situation, when you're in the middle of that, it is tough. And I'm sure that you can relate to that.

Adolfo found my weekly videos and podcasts

So, a few weeks ago, back on the 11th of February, just five weeks ago. Adolfo found my video and podcast, exactly like you're watching or listening to right now. He wrote to me, and he said, look I'm needing some help, I've been trying this, given up a couple of years ago, did this expense of school, wasn't working, what can you do to help?

And so Adolfo went on to one of my free webinars for the whole each week, and he saw what we did and saw that we're real people and real traders, and we've been doing this for nearly 12 years, and all the things that I talk about all the time, about a practical, real approach to trading and plus with the help and webinars and forums, et cetera, that we help our clients with all those different ways of trading. But it was the actual, real working, practical, approach to trading that Adolfo liked. So he jumped on board with us and you can see the video, I'll put a link on here, so you can go and watch it.

You were different

Now Adolfo said, and I'm going to quote what he said. He said, "Thank you for your honesty.]]>302falsefullhttps://www.spreaker.com/episode/403-how-to-profit-as-a-new-trader-with-a-small-account--43879902
Podcast:

#403: How to Profit as a New Trader with a Small Account
In this video:
00:24 – Email from a guy who is looking at starting trading
01:05 – Joining a group of like-minded successful people
01:59 – Real examples from this week
03:12 – Profit from other traders
04:22 – Client mentions trade live on the webinar
05:00 – Learn the “How To” by following other traders
07:03 – Walk before you can run
07:17 – Our 12th birthday is in May

How can you profit in the Forex market if you're starting with a smaller account and you're starting out as a new trader? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 403.

Email from a guy who is looking at starting trading

Now, this week I've received an email from a guy over in the U.K. who's actually in the army, and he's saying, "Look, I'm looking at leaving, but I want to ensure that when I start trading, I'm actually going to make some money. How do I do that? I'm new to this, I don't know anything about it, and my concern is that when I start trading, because I'm new and I don't know what I'm doing, I'm going to lose money and I'm going to lose confidence, give up, and it's just not going to work. So can you give me some suggestions?"

And I went back to him and I said, "Look, there is nothing more powerful than being involved with a group of successful people. It doesn't matter what you want to do.

Joining a group of like-minded successful people

If you're into sports, you're going to learn how to be good at that sport, let's say, from sports groups and mentors, tutors, coaches. If you want to do good things in music, you go and join a band and you learn how to play as a group, that type of thing." And I said to him, "Look, to be honest, trading is no different. Yes, you can do it alone. Yes, you can find things online and you may or you may not eventually make it work for you. But the problem is, is that eventually question is the problem, and what can you do to ensure that?" Obviously, this guy's in the army, he's a team guy, he works hard as a group, et cetera. And I said, "Look, all you have to do is exactly the same as that, but find someone like that in trading."

Real examples from this week

And I want to give you some real examples from this week. These are real actual trades that we've taken, because I said to him, "Look, just look at this week as an example." I said, "Well, February just gone, we had 6.2% on our daily trades, so you could have followed along with that." Because my point to him was actually about why not follow good traders and profitable people so that you're growing your account while you're learning, rather than just throwing money away on just random trades and losing trades? So from this week, we've had a trade on the weekly charts that closed out with a 4.2 to one reward to risk on the Australian-Canadian dollar. It's actually from the previous week, but it closed this week 4.2 to one. So risking half of 1% on that trade, 2.1% gain on your account. How's that for confidence, just one trade?

On our forum site this week, we've had trades posted on the 12 hour, the eight hour, the six hour, the four hour, the two hour, the one hour, 30 minute charts, all profitable trades for people to follow along with. We've had daily trades that have gone well. Our breakout's gone well. We've had a trade yesterday. This was an interesting one and a prime example.

Profit from other traders

As I was putting together my weekly live webinars for clients yesterday...]]>https://theforextradingcoach.com/?p=13474Sun, 14 Mar 2021 12:00:46 +0000Andrew MitchemHow to Profit as a New Trader with a Small Account  Podcast: #403: How to Profit as a New Trader with a Small Account In this video: 00:24 – Email from a guy who is looking at starting trading 01:05 – Joining a group of like-minded successful...
Podcast:

#403: How to Profit as a New Trader with a Small Account
In this video:
00:24 – Email from a guy who is looking at starting trading
01:05 – Joining a group of like-minded successful people
01:59 – Real examples from this week
03:12 – Profit from other traders
04:22 – Client mentions trade live on the webinar
05:00 – Learn the “How To” by following other traders
07:03 – Walk before you can run
07:17 – Our 12th birthday is in May

How can you profit in the Forex market if you're starting with a smaller account and you're starting out as a new trader? Let's talk about that and more right now.

Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 403.

Email from a guy who is looking at starting trading

Now, this week I've received an email from a guy over in the U.K. who's actually in the army, and he's saying, "Look, I'm looking at leaving, but I want to ensure that when I start trading, I'm actually going to make some money. How do I do that? I'm new to this, I don't know anything about it, and my concern is that when I start trading, because I'm new and I don't know what I'm doing, I'm going to lose money and I'm going to lose confidence, give up, and it's just not going to work. So can you give me some suggestions?"

And I went back to him and I said, "Look, there is nothing more powerful than being involved with a group of successful people. It doesn't matter what you want to do.

Joining a group of like-minded successful people

If you're into sports, you're going to learn how to be good at that sport, let's say, from sports groups and mentors, tutors, coaches. If you want to do good things in music, you go and join a band and you learn how to play as a group, that type of thing." And I said to him, "Look, to be honest, trading is no different. Yes, you can do it alone. Yes, you can find things online and you may or you may not eventually make it work for you. But the problem is, is that eventually question is the problem, and what can you do to ensure that?" Obviously, this guy's in the army, he's a team guy, he works hard as a group, et cetera. And I said, "Look, all you have to do is exactly the same as that, but find someone like that in trading."

Real examples from this week

And I want to give you some real examples from this week. These are real actual trades that we've taken, because I said to him, "Look, just look at this week as an example." I said, "Well, February just gone, we had 6.2% on our daily trades, so you could have followed along with that." Because my point to him was actually about why not follow good traders and profitable people so that you're growing your account while you're learning, rather than just throwing money away on just random trades and losing trades? So from this week, we've had a trade on the weekly charts that closed out with a 4.2 to one reward to risk on the Australian-Canadian dollar. It's actually from the previous week, but it closed this week 4.2 to one. So risking half of 1% on that trade, 2.1% gain on your account. How's that for confidence, just one trade?

On our forum site this week, we've had trades posted on the 12 hour, the eight hour, the six hour, the four hour, the two hour, the one hour, 30 minute charts, all profitable trades for people to follow along with. We've had daily trades that have gone well. Our breakout's gone well. We've had a trade yesterday. This was an interesting one and a prime example.

Profit from other traders

As I was putting together my weekly live webinars for clients yesterday...]]>467falsefullhttps://www.spreaker.com/episode/402-your-investment-options-are-limited--43775734
Podcast:

#402: Your Investment Options are Limited
In this video:
00:35 – Very low returns make headlines
01:37 – UK bank pays me 0.1% interest rate
02:02 – February Daily trades make +6.2% in February
03:15 – Options available if you don’t want to trade yourself
03:40 – TFTC Pattern Trader makes +7.2% gain for the week
04:44 – Forex Insiders March webinar: The Power of Divergence
05:59 – Future proof your own finances

Our daily trading suggestions made a 6.2% account gain just in the month of February. Would you like to know how we did that? And would you like to gain results like that for yourself? If you would, listen up I've got some great news for you.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 402.

As you can see a beautiful day here, and so I figured we'll come outside and make the video today in the sun.

Very low returns make headlines

Now, a really interesting news story here in New Zealand just this week, and it actually made quite a lot of headlines and it was about a bank who have decided to increase their term deposit rates to a massive 1.7%. Now it was huge news in terms of that was a substantially bigger figure than almost everybody else has, and it made me think about what options do people have when it comes to investing. Now obviously property worldwide seems to be going absolutely gangbusters and that's fantastic. But when it comes to actually cashflow, there's still a big problem with most investments. Now, for this bank to advertise a 1.7% return per year and to make big news out of it, you can tell how poor almost all other investments are.

UK bank pays me 0.1% interest rate

Now I still have a bank account over in the UK that I had when I was a kid, and it's still there from when we could go over there on holiday pre-COVID. That's paying me over in the UK a 0.1% interest gain. So pretty pathetic. And it just made me think about what else do we have as options?

February Daily trades make +6.2% in February

So as traders, we obviously have a massive advantage when it comes to potential gains. Now I tallied up our results from just our daily chart trades, so this is just on our membership site trades posted to clients on our membership site each day. We had a 6.2% account gain by taking just a half percent risk per trade. So very, very low risk. Something that takes five minutes a day, and all you need to do is follow along with what we're suggesting anyway. That's complete set and forget as well, by the way, close at the end of the week but no management. With some very simply trade management clients did a lot better than that. But even as a set and forget, that was a 6.2% gain just in the month of February. Just one timeframe as well, don't forget. We also post other timeframe charts on our daily trading suggestions like monthly and weekly, 12 hourly etc. We post trades on our forum site and we post that several times a day, so do other clients. We take trades live on our webinars. Plus all the other trades that clients could take themselves.

So you can just see the enormous potential there from trading the Forex market but once you know what you're doing.

Options available if you don’t want to trade yourself

Now, for some people they may not be interested in knowing how to do it, but we've got you covered as well. If you really don't have the time or the will to want to know how to trade for yourselves, we've got a couple of options for you. One is called Echo Trade Copier, and that's a complete set and forget, do absolutely nothing,]]>https://theforextradingcoach.com/?p=13462Sun, 07 Mar 2021 12:00:55 +0000Andrew MitchemYour Investment Options are Limited  Podcast: #402: Your Investment Options are Limited In this video: 00:35 – Very low returns make headlines 01:37 – UK bank pays me 0.1% interest rate 02:02 – February Daily trades make +6.2% in February 03:15...
Podcast:

#402: Your Investment Options are Limited
In this video:
00:35 – Very low returns make headlines
01:37 – UK bank pays me 0.1% interest rate
02:02 – February Daily trades make +6.2% in February
03:15 – Options available if you don’t want to trade yourself
03:40 – TFTC Pattern Trader makes +7.2% gain for the week
04:44 – Forex Insiders March webinar: The Power of Divergence
05:59 – Future proof your own finances

Our daily trading suggestions made a 6.2% account gain just in the month of February. Would you like to know how we did that? And would you like to gain results like that for yourself? If you would, listen up I've got some great news for you.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 402.

As you can see a beautiful day here, and so I figured we'll come outside and make the video today in the sun.

Very low returns make headlines

Now, a really interesting news story here in New Zealand just this week, and it actually made quite a lot of headlines and it was about a bank who have decided to increase their term deposit rates to a massive 1.7%. Now it was huge news in terms of that was a substantially bigger figure than almost everybody else has, and it made me think about what options do people have when it comes to investing. Now obviously property worldwide seems to be going absolutely gangbusters and that's fantastic. But when it comes to actually cashflow, there's still a big problem with most investments. Now, for this bank to advertise a 1.7% return per year and to make big news out of it, you can tell how poor almost all other investments are.

UK bank pays me 0.1% interest rate

Now I still have a bank account over in the UK that I had when I was a kid, and it's still there from when we could go over there on holiday pre-COVID. That's paying me over in the UK a 0.1% interest gain. So pretty pathetic. And it just made me think about what else do we have as options?

February Daily trades make +6.2% in February

So as traders, we obviously have a massive advantage when it comes to potential gains. Now I tallied up our results from just our daily chart trades, so this is just on our membership site trades posted to clients on our membership site each day. We had a 6.2% account gain by taking just a half percent risk per trade. So very, very low risk. Something that takes five minutes a day, and all you need to do is follow along with what we're suggesting anyway. That's complete set and forget as well, by the way, close at the end of the week but no management. With some very simply trade management clients did a lot better than that. But even as a set and forget, that was a 6.2% gain just in the month of February. Just one timeframe as well, don't forget. We also post other timeframe charts on our daily trading suggestions like monthly and weekly, 12 hourly etc. We post trades on our forum site and we post that several times a day, so do other clients. We take trades live on our webinars. Plus all the other trades that clients could take themselves.

So you can just see the enormous potential there from trading the Forex market but once you know what you're doing.

Options available if you don’t want to trade yourself

Now, for some people they may not be interested in knowing how to do it, but we've got you covered as well. If you really don't have the time or the will to want to know how to trade for yourselves, we've got a couple of options for you. One is called Echo Trade Copier, and that's a complete set and forget, do absolutely nothing,]]>403falsefullhttps://www.spreaker.com/episode/401-so-you-want-to-be-a-scalper--43672321
Podcast:

#401: So You Want to be a Scalper?
In this video:
00:23 – Is scalping a good idea or not?
00:58 – Can we help you?
01:14 – Some real trade examples
03:11 – You need a good strategy to scalp
04:35 – Send me an email to receive more details
04:57 – Feel free to share this video and podcast

So you want to be a scalper. Is that a good idea, and can we help?

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 401.

Is scalping a good idea or not?

Now you want to be a scalper. Is that a good idea? Well, it depends on what type of person you are, and if you'd like looking at your charts either at a certain time each day, when you know, there's likely to be more price activity such as the European session, or maybe the US session. But also you need to be the sort of person that's willing to do that regularly. And you've got to be the sort of person that's willing to be a little bit more active on your charts. So is it a good idea? Well, it depends on you as a person, but it also depends on your strategy as in, does it work?

Can we help you?

And the other question is, can we help? Well, yes, absolutely we can help, because my strategy which I've been trading now for the last 14 years, works on all currency pairs and all timeframe charts.

Some real trade examples

Now to give you a perfect couple of examples, just yesterday, I held my client's weekly live two hour trading room webinar. And on that webinar, we actually took two short timeframe charts. We took a trade on the 30 minute chart on the Australian Canadian dollar, and we took a trade on the Aussie Yen on the 15 minute chart. So both kind of scalping trades. They may not be like one minute charts or five minute charts, which are real scalping, but they are very short timeframe being a 15 and 30 minute chart. So pretty much what you would classify as scalping. And they were both profitable trades. We took them live, on the session, in front of my clients.

The first one, the Aussie Canadian, the 30 minute chart trade, just happened to have a 10 bit stop loss, had an 18 pip profit target. Therefore it made a 1.8 to one reward to risk. Risk half of 1% of your account on that trade. Make a 0.9% almost a 1% gain. It did that in two hours. The other trade that we took was on the 15 minute timeframe on the Aussie Yen. That had a 13 pip stop loss, a 28 pip profit target. And that made a 2.1 to one reward to risk or 1.05% gain. Two trades together, half percent risk on each.

So therefore total of only 1% of my account with risk on those two trades yet I made a positive plus 1.95% account gain. So almost a 2% gain just on two trades, live in front of my clients, for everybody to take, everybody to see. And 2% from one night, two trades took me what, five minutes total, just look through all the charts, see them, take them. 2% account gain. Not bad is it? Especially when you consider that's way more than the bank's going to pay me in 12 months.

You need a good strategy to scalp

So can we help you? Absolutely. Certainly we can because the strategy, as I've mentioned works across all timeframe charts. You still need to have everything setting up in your favour. The probability, what we're looking for in terms of candle patterns, bounces round numbers, divergence, all those types of things that we teach, we trade and we look for. And then you have to of course have the strategy and that knowledge to be able to take that trade, all those trades at the exact right time.

So can we help? Absolutely. We also have on our forum site, a section dedicated to one hour charts and another section dedicated to 30 minute charts and lower.]]>https://theforextradingcoach.com/?p=13433Sun, 28 Feb 2021 12:00:18 +0000Andrew MitchemSo You Want to be a Scalper?  Podcast: #401: So You Want to be a Scalper? In this video: 00:23 – Is scalping a good idea or not? 00:58 – Can we help you? 01:14 – Some real trade examples 03:11 – You need a good strategy to scalp 04:35 – Send me...
Podcast:

#401: So You Want to be a Scalper?
In this video:
00:23 – Is scalping a good idea or not?
00:58 – Can we help you?
01:14 – Some real trade examples
03:11 – You need a good strategy to scalp
04:35 – Send me an email to receive more details
04:57 – Feel free to share this video and podcast

So you want to be a scalper. Is that a good idea, and can we help?

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 401.

Is scalping a good idea or not?

Now you want to be a scalper. Is that a good idea? Well, it depends on what type of person you are, and if you'd like looking at your charts either at a certain time each day, when you know, there's likely to be more price activity such as the European session, or maybe the US session. But also you need to be the sort of person that's willing to do that regularly. And you've got to be the sort of person that's willing to be a little bit more active on your charts. So is it a good idea? Well, it depends on you as a person, but it also depends on your strategy as in, does it work?

Can we help you?

And the other question is, can we help? Well, yes, absolutely we can help, because my strategy which I've been trading now for the last 14 years, works on all currency pairs and all timeframe charts.

Some real trade examples

Now to give you a perfect couple of examples, just yesterday, I held my client's weekly live two hour trading room webinar. And on that webinar, we actually took two short timeframe charts. We took a trade on the 30 minute chart on the Australian Canadian dollar, and we took a trade on the Aussie Yen on the 15 minute chart. So both kind of scalping trades. They may not be like one minute charts or five minute charts, which are real scalping, but they are very short timeframe being a 15 and 30 minute chart. So pretty much what you would classify as scalping. And they were both profitable trades. We took them live, on the session, in front of my clients.

The first one, the Aussie Canadian, the 30 minute chart trade, just happened to have a 10 bit stop loss, had an 18 pip profit target. Therefore it made a 1.8 to one reward to risk. Risk half of 1% of your account on that trade. Make a 0.9% almost a 1% gain. It did that in two hours. The other trade that we took was on the 15 minute timeframe on the Aussie Yen. That had a 13 pip stop loss, a 28 pip profit target. And that made a 2.1 to one reward to risk or 1.05% gain. Two trades together, half percent risk on each.

So therefore total of only 1% of my account with risk on those two trades yet I made a positive plus 1.95% account gain. So almost a 2% gain just on two trades, live in front of my clients, for everybody to take, everybody to see. And 2% from one night, two trades took me what, five minutes total, just look through all the charts, see them, take them. 2% account gain. Not bad is it? Especially when you consider that's way more than the bank's going to pay me in 12 months.

You need a good strategy to scalp

So can we help you? Absolutely. Certainly we can because the strategy, as I've mentioned works across all timeframe charts. You still need to have everything setting up in your favour. The probability, what we're looking for in terms of candle patterns, bounces round numbers, divergence, all those types of things that we teach, we trade and we look for. And then you have to of course have the strategy and that knowledge to be able to take that trade, all those trades at the exact right time.

So can we help? Absolutely. We also have on our forum site, a section dedicated to one hour charts and another section dedicated to 30 minute charts and lower.]]>313falsefullhttps://www.spreaker.com/episode/400-new-asic-regulations-and-how-they-affect-forex-traders--43595145
Podcast:

#400: New ASIC Regulations and How They Affect Forex Traders
In this video:
00:24 – I’m joined by Ben Clay from Blueberry Markets
00:43 – Why are ASIC making these changes?
01:43 – If you have more experience, will these levels change?
03:12 – How does this affect Australian traders?
04:00 – How will these changes affect non-Australian traders?
05:35 – I’m looking for a new broker. Can I join Blueberry?
06:11 – What should you look for in a good Forex broker?
07:36 – Can a trader contact you directly?
09:21 – A goal to help people succeed

Andrew Mitchem:
There are new changes coming from the Australian regulators affecting us as Forex traders. So let's discuss how that's going to change things with the Australian brokers. Let's get into it right now.

Andrew Mitchem:
Hi traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 400.

I’m joined by Ben Clay from Blueberry Markets

Andrew Mitchem:
And today we're joined by Ben Clay from Blueberry Markets to discuss the upcoming changes through ASIC and how it's going to affect us as traders, whether we be in Australia or overseas. So Ben, welcome, great to have you here today.

Ben Clay:
Thank you, Andrew. Thanks very much.

Why are ASIC making these changes?

Andrew Mitchem:
So Ben, we're here about these changes out of ASIC, so it's the Australian Securities and Investment Commission. So can you tell us how is this likely to affect us? And first of all, why are ASIC making these changes? What is it that they're doing and why are they doing it?

Ben Clay:
Sure. So essentially the changes are mainly to protect traders at the end of the day, especially new traders coming on board. There's a lot of new traders that come into brokers on one to 500 leverage, the maximum leverage that can be offered and that's just too much risk for someone who doesn't know anything about the Forex markets to be trading on. So these changes is to try and help new traders get a better understanding and trade on much lower leverage, which will be one to 30 for Forex pairs. So they can get an understanding of how the products works before jumping into higher leverage.

Andrew Mitchem:
Okay. So it's mainly about leverage and protecting some of those newer traders.

Ben Clay:
Absolutely.

If you have more experience, will these levels change?

Andrew Mitchem:
That's one of the reasons. So does that mean that once someone understands risk and they've been through trading for a while, things can change, or is that leverage that you just mentioned pretty much set?

Ben Clay:
No, that's exactly right. So when a client has a bit of experience and has some trading history, they can actually become what's called a sophisticated trader. So there'll be some extra parameters that they have to go through, which we'll send out to our clients in the next month, but it will basically almost be a test to show that they understand the markets and that they clearly understand the risks of when it comes to Forex trading. Like myself, I trade on high leverage. It's just a way that I prefer to trade. So, me, myself, I would want to be listed as a sophisticated investor so I can have that as an option to trade on much higher leverage.

Andrew Mitchem:
Right. So it's about educating the client as well. So they're not just going in there gambling and throwing it all away, and then all goes wrong.

Ben Clay:
Exactly. That's exactly right.]]>https://theforextradingcoach.com/?p=13397Mon, 22 Feb 2021 18:00:54 +0000Andrew MitchemNew ASIC Regulations and How They Affect Forex Traders  Podcast: #400: New ASIC Regulations and How They Affect Forex Traders In this video: 00:24 – I’m joined by Ben Clay from Blueberry Markets 00:43 – Why are ASIC making these changes? 01:43 –...
Podcast:

#400: New ASIC Regulations and How They Affect Forex Traders
In this video:
00:24 – I’m joined by Ben Clay from Blueberry Markets
00:43 – Why are ASIC making these changes?
01:43 – If you have more experience, will these levels change?
03:12 – How does this affect Australian traders?
04:00 – How will these changes affect non-Australian traders?
05:35 – I’m looking for a new broker. Can I join Blueberry?
06:11 – What should you look for in a good Forex broker?
07:36 – Can a trader contact you directly?
09:21 – A goal to help people succeed

Andrew Mitchem:
There are new changes coming from the Australian regulators affecting us as Forex traders. So let's discuss how that's going to change things with the Australian brokers. Let's get into it right now.

Andrew Mitchem:
Hi traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 400.

I’m joined by Ben Clay from Blueberry Markets

Andrew Mitchem:
And today we're joined by Ben Clay from Blueberry Markets to discuss the upcoming changes through ASIC and how it's going to affect us as traders, whether we be in Australia or overseas. So Ben, welcome, great to have you here today.

Ben Clay:
Thank you, Andrew. Thanks very much.

Why are ASIC making these changes?

Andrew Mitchem:
So Ben, we're here about these changes out of ASIC, so it's the Australian Securities and Investment Commission. So can you tell us how is this likely to affect us? And first of all, why are ASIC making these changes? What is it that they're doing and why are they doing it?

Ben Clay:
Sure. So essentially the changes are mainly to protect traders at the end of the day, especially new traders coming on board. There's a lot of new traders that come into brokers on one to 500 leverage, the maximum leverage that can be offered and that's just too much risk for someone who doesn't know anything about the Forex markets to be trading on. So these changes is to try and help new traders get a better understanding and trade on much lower leverage, which will be one to 30 for Forex pairs. So they can get an understanding of how the products works before jumping into higher leverage.

Andrew Mitchem:
Okay. So it's mainly about leverage and protecting some of those newer traders.

Ben Clay:
Absolutely.

If you have more experience, will these levels change?

Andrew Mitchem:
That's one of the reasons. So does that mean that once someone understands risk and they've been through trading for a while, things can change, or is that leverage that you just mentioned pretty much set?

Ben Clay:
No, that's exactly right. So when a client has a bit of experience and has some trading history, they can actually become what's called a sophisticated trader. So there'll be some extra parameters that they have to go through, which we'll send out to our clients in the next month, but it will basically almost be a test to show that they understand the markets and that they clearly understand the risks of when it comes to Forex trading. Like myself, I trade on high leverage. It's just a way that I prefer to trade. So, me, myself, I would want to be listed as a sophisticated investor so I can have that as an option to trade on much higher leverage.

Andrew Mitchem:
Right. So it's about educating the client as well. So they're not just going in there gambling and throwing it all away, and then all goes wrong.

Ben Clay:
Exactly. That's exactly right.]]>598falsefullhttps://www.spreaker.com/episode/399-5-things-to-know-before-you-start-trading-forex--43458601
Podcast:

#399: 5 Things to Know Before You Start Trading Forex
In this video:
00:26 – 5 very important things to know
00:38 – You will not become an overnight millionaire
02:01 – You don’t need to spend all day and night watching your charts
02:40 – You don’t need to study global events
03:52 – You do need to understand global time zones
05:47 – You must be willing to learn and invest in yourself
06:46 – Do you have questions and share this video 

I'm going to share with you five things that you should know before you start wanting to become a Forex trader. Let's get into that and more right now.

Hi traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 399.

5 very important things to know

I'm going to share with you five important things that I think you need to know and understand before you start to enter the amazing Forex world.

You will not become an overnight millionaire

So let's start with the first thing is, you not be an overnight multimillionaire. Despite all the claims, all the promises, all the flash cars, all the laptops on the beaches that you see online and all the growth that you see, people tell you, you will achieve, you will not. And that's the reality of it. 90 to 95 percent of Forex traders out there, of just retail small time Forex traders, lose money. It's the facts. It's the reality. And you have to figure out what are you you're going to do differently to that sort of 90, 95% of other people?

There's a lot of things you can do, and we can certainly help you with those. But you've got to actually realise that you will not be doubling your account every week or every month like people tell you, you will do. If you do that, you're basically a gambler. And if you do that, you are not a trader and you will not last as a trader. So if you think you're going to suddenly take a thousand dollars and turn it into a hundred thousand dollars or a million dollars in a week, month, a year, it's not going to happen. You're just going to lose money. Even if you've got a million dollars today to trade, if you don't know what you're doing, you're going to lose money and you won't have a million dollars pretty soon after. So, do not expect overnight success. Like all good things, it takes time. You will not double your account next week.

You don’t need to spend all day and night watching your charts

Number two, you don't need to spend all day looking at your charts. A lot of people get into trading think that they need to sit up all night, all day, watching charts, watching every bit of movement. You do not need to do that, absolutely far from it. So don't think that you need to sit there. You can go to work, do your normal things, kids, family, jobs, sports, whatever it is, travel, whatever it is you like to do, you can make trading work around that. So don't think that you're suddenly going to have to give up all your nights to sit watching charts moving or get up at three o'clock in the morning or anything like that. You don't need to do that.

You don’t need to study global events

Number three. You don't actually need to sit and look and study global events. I had an email from a guy this morning on LinkedIn said to me, "Hey, Andrew, look, I'd love to share with you what we write up each day." And it was basically this about five or six pages on a PDF file of what happened yesterday, news events and political events and COVID events and all this type of stuff. Completely irrelevant. If you know what you're doing as a technical trader, you can look at the charts.]]>https://theforextradingcoach.com/?p=13392Sun, 14 Feb 2021 12:00:34 +0000Andrew Mitchem5 Things to Know Before You Start Trading Forex  Podcast: #399: 5 Things to Know Before You Start Trading Forex In this video: 00:26 – 5 very important things to know 00:38 – You will not become an overnight millionaire 02:01 – You don’t need to...
Podcast:

#399: 5 Things to Know Before You Start Trading Forex
In this video:
00:26 – 5 very important things to know
00:38 – You will not become an overnight millionaire
02:01 – You don’t need to spend all day and night watching your charts
02:40 – You don’t need to study global events
03:52 – You do need to understand global time zones
05:47 – You must be willing to learn and invest in yourself
06:46 – Do you have questions and share this video 

I'm going to share with you five things that you should know before you start wanting to become a Forex trader. Let's get into that and more right now.

Hi traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 399.

5 very important things to know

I'm going to share with you five important things that I think you need to know and understand before you start to enter the amazing Forex world.

You will not become an overnight millionaire

So let's start with the first thing is, you not be an overnight multimillionaire. Despite all the claims, all the promises, all the flash cars, all the laptops on the beaches that you see online and all the growth that you see, people tell you, you will achieve, you will not. And that's the reality of it. 90 to 95 percent of Forex traders out there, of just retail small time Forex traders, lose money. It's the facts. It's the reality. And you have to figure out what are you you're going to do differently to that sort of 90, 95% of other people?

There's a lot of things you can do, and we can certainly help you with those. But you've got to actually realise that you will not be doubling your account every week or every month like people tell you, you will do. If you do that, you're basically a gambler. And if you do that, you are not a trader and you will not last as a trader. So if you think you're going to suddenly take a thousand dollars and turn it into a hundred thousand dollars or a million dollars in a week, month, a year, it's not going to happen. You're just going to lose money. Even if you've got a million dollars today to trade, if you don't know what you're doing, you're going to lose money and you won't have a million dollars pretty soon after. So, do not expect overnight success. Like all good things, it takes time. You will not double your account next week.

You don’t need to spend all day and night watching your charts

Number two, you don't need to spend all day looking at your charts. A lot of people get into trading think that they need to sit up all night, all day, watching charts, watching every bit of movement. You do not need to do that, absolutely far from it. So don't think that you need to sit there. You can go to work, do your normal things, kids, family, jobs, sports, whatever it is, travel, whatever it is you like to do, you can make trading work around that. So don't think that you're suddenly going to have to give up all your nights to sit watching charts moving or get up at three o'clock in the morning or anything like that. You don't need to do that.

You don’t need to study global events

Number three. You don't actually need to sit and look and study global events. I had an email from a guy this morning on LinkedIn said to me, "Hey, Andrew, look, I'd love to share with you what we write up each day." And it was basically this about five or six pages on a PDF file of what happened yesterday, news events and political events and COVID events and all this type of stuff. Completely irrelevant. If you know what you're doing as a technical trader, you can look at the charts.]]>433falsefullhttps://www.spreaker.com/episode/398-the-forex-market-or-the-stock-market--43332430
Podcast:

#398: The Forex Market or the Stock Market?
In this video:
00:28 – Which is the best market to trade?
00:51 – The Forex market is open 24 hours a day
02:27 – It’s easy to follow and understand the 8 FX currencies
03:43 – Massive liquidity in the Forex market
04:44 – Use Leverage to your advantage
05:42 – You can trade Forex long and short
06:27 – The low cost of trading the Forex market
06:47 – The ability to take high reward:risk trades
08:13 – Send me the trading topics you’d like me to discuss

Should you trade the Forex market or should you consider trading the stock market instead? Which is best? Let's talk about that and more, right now.

Hi Forex traders. It is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 398.

Which is the best market to trade?

And I want to talk about the differences, the comparisons, the benefits of trading the Forex market over the stock market. It's a question I get asked quite often. And so I thought to help you out, I'll give you what I see the benefits of the Forex market that are clearly beneficial to us as traders and why I choose the Forex market over the stock market. So to list these in no particular order.

The Forex market is open 24 hours a day

The first one, the market is open 24 hours a day when you trade the Forex market. So it's open five days a week. It opens at 05:00 PM, New York time on a Sunday, and it closes at 05:00 PM, New York time on a Friday. So it's open for five complete days, 24 hours a day, and it doesn't shut within that time.

Now that has many benefits. Depends on where you live around the world. You may find that some exchanges, if you're trading the stock market, it may be crazy hours of the day for you. As an example, for me, living here in New Zealand, I can trade the Forex market quite easily, any time of day. Yet, if I wanted to trade the US stock market, I'd need to be up from about two o'clock in the morning through to about 06:00 or 07:00 AM every day. And there is no way I'm doing that. And it depends on where you're living. If you're in Europe, let's say, you can't trade the Australian stock market very easily because of the time differences. And when you have time differences and you have exchanges open for, let's say eight hours a day, what you tend to find is between one day and the next day you have gaps in the price and you have price jumping from here and opening the next day up here. So all sorts of different things like that, which as a trader can become a problem.

Yet with the Forex market, it doesn't matter where you live in the world, what time zone you're on. When you look at the market, the market is open. And that to me is a massive, massive benefit. And you just get that continual flow with the Forex market that you don't get in the stock market.

It’s easy to follow and understand the 8 FX currencies

Another benefit, when you look at the Forex market, there's really only eight currencies that we look at trading. You get to know pretty soon the characteristics, how they move, how they flow with each different currency and the currency pairs. Yet if you're trading the stock market, how on earth do you get to really know what's happening with each of those stocks, those companies, what their debt levels are like, what their employment levels are like, what their plans are? All those type of things that I don't believe that you really can know. And even if you study just a few of them, well, there's thousands of them to go and look at. So how do you know which one to look at?]]>https://theforextradingcoach.com/?p=13378Sun, 07 Feb 2021 12:00:01 +0000Andrew MitchemThe Forex Market or the Stock Market?  Podcast: #398: The Forex Market or the Stock Market? In this video: 00:28 – Which is the best market to trade? 00:51 – The Forex market is open 24 hours a day 02:27 – It’s easy to follow and understand the 8...
Podcast:

#398: The Forex Market or the Stock Market?
In this video:
00:28 – Which is the best market to trade?
00:51 – The Forex market is open 24 hours a day
02:27 – It’s easy to follow and understand the 8 FX currencies
03:43 – Massive liquidity in the Forex market
04:44 – Use Leverage to your advantage
05:42 – You can trade Forex long and short
06:27 – The low cost of trading the Forex market
06:47 – The ability to take high reward:risk trades
08:13 – Send me the trading topics you’d like me to discuss

Should you trade the Forex market or should you consider trading the stock market instead? Which is best? Let's talk about that and more, right now.

Hi Forex traders. It is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 398.

Which is the best market to trade?

And I want to talk about the differences, the comparisons, the benefits of trading the Forex market over the stock market. It's a question I get asked quite often. And so I thought to help you out, I'll give you what I see the benefits of the Forex market that are clearly beneficial to us as traders and why I choose the Forex market over the stock market. So to list these in no particular order.

The Forex market is open 24 hours a day

The first one, the market is open 24 hours a day when you trade the Forex market. So it's open five days a week. It opens at 05:00 PM, New York time on a Sunday, and it closes at 05:00 PM, New York time on a Friday. So it's open for five complete days, 24 hours a day, and it doesn't shut within that time.

Now that has many benefits. Depends on where you live around the world. You may find that some exchanges, if you're trading the stock market, it may be crazy hours of the day for you. As an example, for me, living here in New Zealand, I can trade the Forex market quite easily, any time of day. Yet, if I wanted to trade the US stock market, I'd need to be up from about two o'clock in the morning through to about 06:00 or 07:00 AM every day. And there is no way I'm doing that. And it depends on where you're living. If you're in Europe, let's say, you can't trade the Australian stock market very easily because of the time differences. And when you have time differences and you have exchanges open for, let's say eight hours a day, what you tend to find is between one day and the next day you have gaps in the price and you have price jumping from here and opening the next day up here. So all sorts of different things like that, which as a trader can become a problem.

Yet with the Forex market, it doesn't matter where you live in the world, what time zone you're on. When you look at the market, the market is open. And that to me is a massive, massive benefit. And you just get that continual flow with the Forex market that you don't get in the stock market.

It’s easy to follow and understand the 8 FX currencies

Another benefit, when you look at the Forex market, there's really only eight currencies that we look at trading. You get to know pretty soon the characteristics, how they move, how they flow with each different currency and the currency pairs. Yet if you're trading the stock market, how on earth do you get to really know what's happening with each of those stocks, those companies, what their debt levels are like, what their employment levels are like, what their plans are? All those type of things that I don't believe that you really can know. And even if you study just a few of them, well, there's thousands of them to go and look at. So how do you know which one to look at?]]>515falsefullhttps://www.spreaker.com/episode/397-how-to-lose-money-fast-through-trading--43211607
Podcast:

#397: How to Lose Money Fast through Trading
In this video:
00:33 – You’ll know it’s easy to lose money through trading
01:27 – What are you going to do differently?
02:05 – Watch last week’s video about using Limit Orders
05:01 – A real example on the EUR/AUD W1 chart which made a 4:1 R:R
06:22 – New monthly webinars for all traders to attend
07:16 – We’ve gone full circle

I'm going to explain how you can lose money really, really fast by trading the Forex market. You interested? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here at The Forex Trading Coach, with video and podcast number 397.

And you can see it's an awesome day here, summertime in New Zealand, so I thought I'd come outside. I want to talk about something very, very different this time. I want to talk about losing money.

You’ll know it’s easy to lose money through trading

Now, it's very, very easy to do that if you're trading in the Forex market, and if you've been trading for any length of time, you will know how easy it is to lose money.

Now, not the sort of topic that I usually talk about, so you can see it's kind of like tongue in cheek here, because really everybody knows how to lose money in the Forex market. All you have to do is to simply do what most people have always done and just follow the masses, do all the usual things that most people do that are incorrect. And if you do that, you will certainly lose lots of money. But that's not fun. If you want to change things around, like with anything, if you continue to do what you've always done, as the phrase goes, you will continue to get what you've always got.

What are you going to do differently?

So as a trader, what are we going to do differently here now to change this around? What are you going to do with your mindset, with your thinking, with the way that you trade, with what you're going to learn, who you're going to interact with, all those types of things? What are you going to do to change this around? Because otherwise, like the topic of this conversation, you will lose money and you'll do it really well and you'll do it really fast. You'll get upset. You'll blame the broker, you'll blame the internet, you'll blame everybody, but ultimately it's you that's done it wrong.

So yes. Okay, so you're going to change things around, what are you going to do?

Watch last week’s video about using Limit Orders

Well, have a look at last week's video and podcast, as an example of one simple thing you can do to change things around. The feedback from that, by the way, thank you for that, was tremendous. It was all about using retracement orders, limit orders, and how that one simple thing can massively change your trading performance.

Now, this week I held a presentation for a group of traders over in Singapore. Of course, it was online. I haven't been over there. But on that presentation, I put together a very, very simple chart, and I made an example of a trade. And I said, "Well, here's three ways of trading this trade, entering the trade. We can enter at the market. We can enter using a stop order," in this example, it was a buy trade, so a buy stop, "or we can enter using a buy limit." Now, this trade had the same stop loss on all three entry methods, had the same profit target on all three entry methods. It was a hypothetical trade, but it was to show an example, and it was to say, basically what we showed was, if you enter at the market, this particular trade example made about a 1.1-to-1 reward-to-risk. If you entered using a stop order, it made about a 0.6-to-1 reward-to-risk. If you entered using the limit order, it made a 2.2-to-1 reward-to-risk.]]>https://theforextradingcoach.com/?p=13342Sun, 31 Jan 2021 12:00:47 +0000Andrew MitchemHow to Lose Money Fast through Trading  Podcast: #397: How to Lose Money Fast through Trading In this video: 00:33 – You’ll know it’s easy to lose money through trading 01:27 – What are you going to do differently? 02:05 – Watch last week’s video...
Podcast:

#397: How to Lose Money Fast through Trading
In this video:
00:33 – You’ll know it’s easy to lose money through trading
01:27 – What are you going to do differently?
02:05 – Watch last week’s video about using Limit Orders
05:01 – A real example on the EUR/AUD W1 chart which made a 4:1 R:R
06:22 – New monthly webinars for all traders to attend
07:16 – We’ve gone full circle

I'm going to explain how you can lose money really, really fast by trading the Forex market. You interested? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here at The Forex Trading Coach, with video and podcast number 397.

And you can see it's an awesome day here, summertime in New Zealand, so I thought I'd come outside. I want to talk about something very, very different this time. I want to talk about losing money.

You’ll know it’s easy to lose money through trading

Now, it's very, very easy to do that if you're trading in the Forex market, and if you've been trading for any length of time, you will know how easy it is to lose money.

Now, not the sort of topic that I usually talk about, so you can see it's kind of like tongue in cheek here, because really everybody knows how to lose money in the Forex market. All you have to do is to simply do what most people have always done and just follow the masses, do all the usual things that most people do that are incorrect. And if you do that, you will certainly lose lots of money. But that's not fun. If you want to change things around, like with anything, if you continue to do what you've always done, as the phrase goes, you will continue to get what you've always got.

What are you going to do differently?

So as a trader, what are we going to do differently here now to change this around? What are you going to do with your mindset, with your thinking, with the way that you trade, with what you're going to learn, who you're going to interact with, all those types of things? What are you going to do to change this around? Because otherwise, like the topic of this conversation, you will lose money and you'll do it really well and you'll do it really fast. You'll get upset. You'll blame the broker, you'll blame the internet, you'll blame everybody, but ultimately it's you that's done it wrong.

So yes. Okay, so you're going to change things around, what are you going to do?

Watch last week’s video about using Limit Orders

Well, have a look at last week's video and podcast, as an example of one simple thing you can do to change things around. The feedback from that, by the way, thank you for that, was tremendous. It was all about using retracement orders, limit orders, and how that one simple thing can massively change your trading performance.

Now, this week I held a presentation for a group of traders over in Singapore. Of course, it was online. I haven't been over there. But on that presentation, I put together a very, very simple chart, and I made an example of a trade. And I said, "Well, here's three ways of trading this trade, entering the trade. We can enter at the market. We can enter using a stop order," in this example, it was a buy trade, so a buy stop, "or we can enter using a buy limit." Now, this trade had the same stop loss on all three entry methods, had the same profit target on all three entry methods. It was a hypothetical trade, but it was to show an example, and it was to say, basically what we showed was, if you enter at the market, this particular trade example made about a 1.1-to-1 reward-to-risk. If you entered using a stop order, it made about a 0.6-to-1 reward-to-risk. If you entered using the limit order, it made a 2.2-to-1 reward-to-risk.]]>488falsefullhttps://www.spreaker.com/episode/396-how-using-retracements-will-help-your-trading-results--43092075
Podcast:

#396: How Using Retracements Will Help Your Trading Results
In this video:
00:26 – The biggest difference to my trading success
01:06 – The many benefits of using limit orders
01:46 – Frees up your time
03:57 – A real time example on the EUR/NZD H4 chart
05:03 – Using retracement entries will massively help you

Using retracement orders can massively improve your trading success. Let's talk about that more right now.

Hi Forex traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 396.

The biggest difference to my trading success

Now, next week I'm going to be speaking at a virtual trading week for a group of traders over in Singapore. I've been asked to speak as a special guest. And the guy who's organising the events said to me, "Andrew, I want you to talk about on a topic that can help people, but choose a topic that made a huge difference to your own trading success. Like what helped you as a trader to change your trading around and what made it so successful." So I've got quite an interesting topic and it is all about how you actually enter the market using retracement orders.

The many benefits of using limit orders

Now you see, there are so many benefits to using retracement orders.And when I'm saying retracements, I'm using what's called limit orders, so buy limits or sell limits. So if you were to take a buy trade, for instance, a buy limit order means that you're entering the market below the current price. If you're taking a sell order, you are entering the market above the current price. So in other words, you're getting in at a better price after the price has retraced from where it currently is, and then you're anticipating it to then continue in the direction of your trade.

Frees up your time

Now, huge number of benefits to this. One, time-wise. Now a number of people stress about sitting and watching their charts all the time. You know, you're missing out on trades, or you don't know when to be at your charts. Now we simplify that here at the Forex Trading Coach by only looking at a candle at the close of the candle, that's the only time we look at a trade.

So once you do that, then we get people that say, well, I cannot be there at at 12 o'clock or four o'clock, whenever the candle closes. But the beauty of taking retracement orders is you don't actually need to be there. So, as an example on a buy trade, we're still looking at using our same profit target, our same stop loss, but rather than entering at the market and needing to be there at that time and having a smaller reward to risk, we're looking for the price to first fall, get our buy limit order filled, and then head up in our overall anticipated direction. Massive benefits time-wise. The other massive benefit also you can see, we've now increased our reward to risk of the trade. And that's massively important psychologically. Now you don't need to be winning 80, 90% of the time.

And you think about this in simple terms. If you have trades that are three to one reward to risk on average, and you take three trades, one of them's profitable, you just made one and a half percent on your account by using half percent risk. You have two losing trades following that, you've lost 1% total. So out of the three trades, you've only making 33.3% of the time. You're only profitable on a third of your trades, yet you've still made half of 1% gain by using half percent risk on each of those three trades. So people that say, "Look, I need to be profitable 80, 90% of the time." Most of those people don't make money. And you think about this, if you're making one out of three profitable trades,]]>https://theforextradingcoach.com/?p=13327Sun, 24 Jan 2021 12:00:05 +0000Andrew MitchemHow Using Retracements Will Help Your Trading Results  Podcast: #396: How Using Retracements Will Help Your Trading Results In this video: 00:26 – The biggest difference to my trading success 01:06 – The many benefits of using...
Podcast:

#396: How Using Retracements Will Help Your Trading Results
In this video:
00:26 – The biggest difference to my trading success
01:06 – The many benefits of using limit orders
01:46 – Frees up your time
03:57 – A real time example on the EUR/NZD H4 chart
05:03 – Using retracement entries will massively help you

Using retracement orders can massively improve your trading success. Let's talk about that more right now.

Hi Forex traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 396.

The biggest difference to my trading success

Now, next week I'm going to be speaking at a virtual trading week for a group of traders over in Singapore. I've been asked to speak as a special guest. And the guy who's organising the events said to me, "Andrew, I want you to talk about on a topic that can help people, but choose a topic that made a huge difference to your own trading success. Like what helped you as a trader to change your trading around and what made it so successful." So I've got quite an interesting topic and it is all about how you actually enter the market using retracement orders.

The many benefits of using limit orders

Now you see, there are so many benefits to using retracement orders.And when I'm saying retracements, I'm using what's called limit orders, so buy limits or sell limits. So if you were to take a buy trade, for instance, a buy limit order means that you're entering the market below the current price. If you're taking a sell order, you are entering the market above the current price. So in other words, you're getting in at a better price after the price has retraced from where it currently is, and then you're anticipating it to then continue in the direction of your trade.

Frees up your time

Now, huge number of benefits to this. One, time-wise. Now a number of people stress about sitting and watching their charts all the time. You know, you're missing out on trades, or you don't know when to be at your charts. Now we simplify that here at the Forex Trading Coach by only looking at a candle at the close of the candle, that's the only time we look at a trade.

So once you do that, then we get people that say, well, I cannot be there at at 12 o'clock or four o'clock, whenever the candle closes. But the beauty of taking retracement orders is you don't actually need to be there. So, as an example on a buy trade, we're still looking at using our same profit target, our same stop loss, but rather than entering at the market and needing to be there at that time and having a smaller reward to risk, we're looking for the price to first fall, get our buy limit order filled, and then head up in our overall anticipated direction. Massive benefits time-wise. The other massive benefit also you can see, we've now increased our reward to risk of the trade. And that's massively important psychologically. Now you don't need to be winning 80, 90% of the time.

And you think about this in simple terms. If you have trades that are three to one reward to risk on average, and you take three trades, one of them's profitable, you just made one and a half percent on your account by using half percent risk. You have two losing trades following that, you've lost 1% total. So out of the three trades, you've only making 33.3% of the time. You're only profitable on a third of your trades, yet you've still made half of 1% gain by using half percent risk on each of those three trades. So people that say, "Look, I need to be profitable 80, 90% of the time." Most of those people don't make money. And you think about this, if you're making one out of three profitable trades,]]>327falsefullhttps://www.spreaker.com/episode/395-how-to-make-2021-an-excellent-trading-year--42976054
Podcast:

#395: How to make 2021 an excellent trading year
In this video:
00:30 – Set your goals for the New Year
01:40 – Trading on the close of a candle
02:22 – Document your trades
02:42 – Client makes +2.75% gain in one trade
03:57 – TFTC Pattern Trader bot software
04:57 – Looking forward to a great year ahead
05:40 – Future podcast topics

So, 2021. How are you going to ensure this is a great year for you as a forex trader? Let's talk about that more right now.

Hey, traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 395.

Set your goals for the New Year

Come outside here, as it's a beautiful day today, and wanted to talk about goals for 2021. It's really important that you have some goals, that you think about your trading, you look at last year's performance. What was good? What was not good? If you're new to trading, you're probably in some ways a better off position, because you can start right now in January and focus on making this year a really good year, but you need a plan. And it was one of the things that we discussed on our last webinar with our clients. Held it just last night. Two and a half hour live webinar. First one for the year.

We go through our trading goals. We look at when we're wanting to trade, what timeframes, what patterns we're looking at, continuations, reversals, risk per trade. What do you do if a few trades go wrong? What do you do if you make really good trades? Do you keep trading? Do you stop trading? What happens if you can't access your broker's platform, your internet goes down? Different timeframe charts, are you going to take different risk on each trade? How are you going to place your entries, your stop losses, your profit targets? All those things that we look at and we discuss, and we come up with a trading plan that suits the individual person.

Trading on the close of a candle

Now, with my strategy, we only look at taking a trade on the close of a candle, so it's very easy to know when to look at your charts, but with different people all around the world with different time zones, different time restrictions of availability, it's important to plan what works for you. Now, as I said, we make sure that clients have a plan and it's something that's realistic, easy to stick to. Really, there's no reason why you can't trade in under 30 minutes per day. That's what we do, and that's what we've done for years and years. But it's just about helping people to establish that plan, and I really encourage you to have a plan yourself as well.

Document your trades

Also about, when you record trades, are you writing them down on spreadsheets? Are you taking screenshots, et cetera? What are you doing to document, journal and analyse your trading performance as you go through this year? So some important tips there to work on. Just email me if you need any help, andrew@theforextradingcoach.com.

Client makes +2.75% gain in one trade

With our trade so far this year, we've been trading just this one week, and we've already had very profitable trades on the daily charts, the 12 hours, eight hours, four hours, two-hour and one-hour charts. Had an email from a client who said that he's already made, on his very first trade on gold on the one-hour chart, made a 2.75% account gain already, which is fantastic.

On the live webinar yesterday, I took two two-hour chart trades; one on Euro yen, which lost, and one on the New Zealand-Canadian, which was profitable. The profitable trade completely got back all the loss of the first trade and more.]]>https://theforextradingcoach.com/?p=13318Sun, 17 Jan 2021 12:00:34 +0000Andrew MitchemHow to make 2021 an excellent trading year  Podcast: #395: How to make 2021 an excellent trading year In this video: 00:30 – Set your goals for the New Year 01:40 – Trading on the close of a candle 02:22 – Document your trades...
Podcast:

#395: How to make 2021 an excellent trading year
In this video:
00:30 – Set your goals for the New Year
01:40 – Trading on the close of a candle
02:22 – Document your trades
02:42 – Client makes +2.75% gain in one trade
03:57 – TFTC Pattern Trader bot software
04:57 – Looking forward to a great year ahead
05:40 – Future podcast topics

So, 2021. How are you going to ensure this is a great year for you as a forex trader? Let's talk about that more right now.

Hey, traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 395.

Set your goals for the New Year

Come outside here, as it's a beautiful day today, and wanted to talk about goals for 2021. It's really important that you have some goals, that you think about your trading, you look at last year's performance. What was good? What was not good? If you're new to trading, you're probably in some ways a better off position, because you can start right now in January and focus on making this year a really good year, but you need a plan. And it was one of the things that we discussed on our last webinar with our clients. Held it just last night. Two and a half hour live webinar. First one for the year.

We go through our trading goals. We look at when we're wanting to trade, what timeframes, what patterns we're looking at, continuations, reversals, risk per trade. What do you do if a few trades go wrong? What do you do if you make really good trades? Do you keep trading? Do you stop trading? What happens if you can't access your broker's platform, your internet goes down? Different timeframe charts, are you going to take different risk on each trade? How are you going to place your entries, your stop losses, your profit targets? All those things that we look at and we discuss, and we come up with a trading plan that suits the individual person.

Trading on the close of a candle

Now, with my strategy, we only look at taking a trade on the close of a candle, so it's very easy to know when to look at your charts, but with different people all around the world with different time zones, different time restrictions of availability, it's important to plan what works for you. Now, as I said, we make sure that clients have a plan and it's something that's realistic, easy to stick to. Really, there's no reason why you can't trade in under 30 minutes per day. That's what we do, and that's what we've done for years and years. But it's just about helping people to establish that plan, and I really encourage you to have a plan yourself as well.

Document your trades

Also about, when you record trades, are you writing them down on spreadsheets? Are you taking screenshots, et cetera? What are you doing to document, journal and analyse your trading performance as you go through this year? So some important tips there to work on. Just email me if you need any help, andrew@theforextradingcoach.com.

Client makes +2.75% gain in one trade

With our trade so far this year, we've been trading just this one week, and we've already had very profitable trades on the daily charts, the 12 hours, eight hours, four hours, two-hour and one-hour charts. Had an email from a client who said that he's already made, on his very first trade on gold on the one-hour chart, made a 2.75% account gain already, which is fantastic.

On the live webinar yesterday, I took two two-hour chart trades; one on Euro yen, which lost, and one on the New Zealand-Canadian, which was profitable. The profitable trade completely got back all the loss of the first trade and more.]]>354falsefullhttps://www.spreaker.com/episode/394-how-was-your-trading-during-2020--42462875
Podcast:

#394: How Was Your Trading During 2020?
In this video:
00:26 – What an interesting year!
01:06 - Trade the conditions you get at the time
01:21 – How was your trading during the year?
02:35 – My trading hours during the next 3 weeks
03:15 – Use the next 3 weeks wisely
04:07 – Wishing you all a fantastic Christmas and have a great 2021

How was trading for you in 2020? It was an interesting year, wasn't it? Let's talk about that and more, right now.

Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 394, and it's the last video and podcast for 2020.

What an interesting year!

Well, what an interesting year. Who would have thought back in January we would be in the situation that we're in now? Who would have thought we've seen all things that we've seen in 2020? Nobody could have predicted that, but for traders, it's actually been a pretty good year. Back in March and April, we had some unbelievably good trading conditions, made incredible returns because of the big movements in the market when the COVID really hit, and throughout the year we've seen some interesting trading conditions. Sometimes it's been a bit quiet. We've had the US election and all the buildup to that and still carrying on now, and so conditions have been a little bit quiet. Brexit still. Is it happening? Is it not happening in the UK?

Trade the conditions you get at the time

But as traders, you've got to just basically go with what the market's giving you at the time, and as mentioned, we have had some very, very good trading conditions throughout the year, sometimes a little bit quiet, other times exceptionally good.

How was your trading during the year?

But what I wanted to ask you is this. How has your year been in 2020? Has it been a good year, not such a good year? I suppose for a lot of people being able to now work from home and it's allowed people to adapt and accept working from home, working remotely. Things like trading has become easier to do. More opportunity to do it if you're not at work all day, so that's been a really good thing. But as a trader, what have your results been like and what are you doing to analyse those results, to look at those results and to think, "Well, this is what I've done this year?" Can't change it. This happened. Whether it be good or bad, but what are you doing now onwards over the next few weeks as we lead up to Christmas and New Year to ensure that 2021 is an exceptional trading year for you? What are you actually doing about that?

Are you reviewing the trades that you've taken this year? Are you looking at changing something? Are you looking at getting some education, some help, some support, do a course, read an ebook, watch videos? What is it that you are going to be doing now for the next few weeks and take advantage of this quieter time?

My trading hours during the next 3 weeks

I'm stopping trading Friday the 18th of December and starting again on Monday the 11th of January, so I'm just taking a break from trading. The market conditions are going to do one of two things. Either it's going to be very thin trading volume and the market's going to be crazy, or it's just going to be flat and dead, and of course you never know which, so for me it's just easier not to be bothering. There's plenty of other weeks in the year to be trading and making money from the market. It's just nice at the end of the year, have a bit of a downtime, bit of a relax and get ready for next year and so really, that's what I encourage you to do.

Use the next 3 weeks wisely

Yes, have some down time, some family time. That's what Christmas and New Year's all about,]]>https://theforextradingcoach.com/?p=13273Sun, 13 Dec 2020 12:00:35 +0000Andrew MitchemHow Was Your Trading During 2020?  Podcast: #394: How Was Your Trading During 2020? In this video: 00:26 – What an interesting year! 01:06 - Trade the conditions you get at the time 01:21 – How was your trading during the year?...
Podcast:

#394: How Was Your Trading During 2020?
In this video:
00:26 – What an interesting year!
01:06 - Trade the conditions you get at the time
01:21 – How was your trading during the year?
02:35 – My trading hours during the next 3 weeks
03:15 – Use the next 3 weeks wisely
04:07 – Wishing you all a fantastic Christmas and have a great 2021

How was trading for you in 2020? It was an interesting year, wasn't it? Let's talk about that and more, right now.

Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 394, and it's the last video and podcast for 2020.

What an interesting year!

Well, what an interesting year. Who would have thought back in January we would be in the situation that we're in now? Who would have thought we've seen all things that we've seen in 2020? Nobody could have predicted that, but for traders, it's actually been a pretty good year. Back in March and April, we had some unbelievably good trading conditions, made incredible returns because of the big movements in the market when the COVID really hit, and throughout the year we've seen some interesting trading conditions. Sometimes it's been a bit quiet. We've had the US election and all the buildup to that and still carrying on now, and so conditions have been a little bit quiet. Brexit still. Is it happening? Is it not happening in the UK?

Trade the conditions you get at the time

But as traders, you've got to just basically go with what the market's giving you at the time, and as mentioned, we have had some very, very good trading conditions throughout the year, sometimes a little bit quiet, other times exceptionally good.

How was your trading during the year?

But what I wanted to ask you is this. How has your year been in 2020? Has it been a good year, not such a good year? I suppose for a lot of people being able to now work from home and it's allowed people to adapt and accept working from home, working remotely. Things like trading has become easier to do. More opportunity to do it if you're not at work all day, so that's been a really good thing. But as a trader, what have your results been like and what are you doing to analyse those results, to look at those results and to think, "Well, this is what I've done this year?" Can't change it. This happened. Whether it be good or bad, but what are you doing now onwards over the next few weeks as we lead up to Christmas and New Year to ensure that 2021 is an exceptional trading year for you? What are you actually doing about that?

Are you reviewing the trades that you've taken this year? Are you looking at changing something? Are you looking at getting some education, some help, some support, do a course, read an ebook, watch videos? What is it that you are going to be doing now for the next few weeks and take advantage of this quieter time?

My trading hours during the next 3 weeks

I'm stopping trading Friday the 18th of December and starting again on Monday the 11th of January, so I'm just taking a break from trading. The market conditions are going to do one of two things. Either it's going to be very thin trading volume and the market's going to be crazy, or it's just going to be flat and dead, and of course you never know which, so for me it's just easier not to be bothering. There's plenty of other weeks in the year to be trading and making money from the market. It's just nice at the end of the year, have a bit of a downtime, bit of a relax and get ready for next year and so really, that's what I encourage you to do.

Use the next 3 weeks wisely

Yes, have some down time, some family time. That's what Christmas and New Year's all about,]]>297falsefullhttps://www.spreaker.com/episode/393-all-you-need-to-know-about-blueberry-markets--42343034
Podcast:

#393: All You Need to Know about Blueberry Markets
In this video:
00:00 – I’m joined by Ben Clay at Blueberry Markets
00:45 – Who are the people behind Blueberry Markets?
02:23 – Where are your servers located?
04:45 – Building their online reputation
06:54 – What type of accounts can someone open at Blueberry Markets?
09:18 – Can you have an unlimited demo account?
10:29 – How do I withdraw funds?
12:09 – Safety of my funds?

I’m joined by Ben Clay at Blueberry Markets

Andrew M.:
Hi, everybody. It's Andrew Mitchem here at The Forex Trading Coach, and I'm pleased to be joined today by Ben Clay from Blueberry Markets. Hello, Ben.

Ben Clay:
G'day, mate.

Andrew M.:
Nice to see you here. Ben, got some questions to run through from you. Asked a number of traders right round the world to ask questions to me that I can pass them on to you, basically to find out more about Blueberry Markets, what it is you do, why you're a good broker, and why you're my preferred broker. So if you're all good, I'll fire away with some questions, Ben.

Ben Clay:
Absolutely.

Who are the people behind Blueberry Markets?

Andrew M.:
The first question is, who are the people behind Blueberry?

Ben Clay:
Good question, one I get asked relatively often. Dean Hyde is actually basically the owner of Blueberry Markets, who I've known for about 11 years. We worked together at AxiTrader, who you obviously know, for some time. He just basically wanted to set up a broker where he thought there was a gap in the market, which was offering just really good, hands-on customer service and transparency to all of their clients. So he sort of separated from Axi a few years back and set out really on his own to come and set this up.

Ben Clay:
We're, of course, licenced through Eightcap, down in Melbourne, which is another firm who holds the FSL. Obviously, ASIC, it's very difficult to get your own licence when you're first starting out. So we're still under their licence, but they're a very strong financially-backed firm as well and they've been amazing to us. So technically it's Dean who's behind it, and then Eightcap who runs the licence is basically it.

Andrew M.:
Perfect. I think that's one of the nice things that I like about what you guys are. You're very personal group. It's real people. It's not a call centre. It's nice that you're dealing with real people all the time. And that's the feedback that I get from clients as well. It's always someone, like that.

Ben Clay:
Well, I'm really glad to hear that. That's what we set out to do, is have the real hands-on approach and be extremely accessible and transparent. So that's what we set out to do, and I think we've done pretty good at achieving that.

Where are your servers located?

Andrew M.:
I think you've done very well. Absolutely. So another question, Ben. Your servers, where are they located?

Ben Clay:
Our main servers are based in Hong Kong, so that's where the main server centre is. And while that might sound a bit strange, it's a pretty central location to a lot of our key demographics. Having said that, though, we do have data centres all around the world, so in the main DCs like London, New York, Tokyo, Sydney, as well. The reason for that is when you're connected to the platform on MT4, anyone who's ever used it, down the bottom right-hand corner, there's the little connection status.

Ben Clay:
You can actually click there and select the best data centre that's giving you the best latency. Most of the time for me,]]>https://theforextradingcoach.com/?p=13205Sun, 06 Dec 2020 12:00:37 +0000Andrew MitchemAll You Need to Know about Blueberry Markets  Podcast: #393: All You Need to Know about Blueberry Markets In this video: 00:00 – I’m joined by Ben Clay at Blueberry Markets 00:45 – Who are the people behind Blueberry Markets? 02:23 –...
Podcast:

#393: All You Need to Know about Blueberry Markets
In this video:
00:00 – I’m joined by Ben Clay at Blueberry Markets
00:45 – Who are the people behind Blueberry Markets?
02:23 – Where are your servers located?
04:45 – Building their online reputation
06:54 – What type of accounts can someone open at Blueberry Markets?
09:18 – Can you have an unlimited demo account?
10:29 – How do I withdraw funds?
12:09 – Safety of my funds?

I’m joined by Ben Clay at Blueberry Markets

Andrew M.:
Hi, everybody. It's Andrew Mitchem here at The Forex Trading Coach, and I'm pleased to be joined today by Ben Clay from Blueberry Markets. Hello, Ben.

Ben Clay:
G'day, mate.

Andrew M.:
Nice to see you here. Ben, got some questions to run through from you. Asked a number of traders right round the world to ask questions to me that I can pass them on to you, basically to find out more about Blueberry Markets, what it is you do, why you're a good broker, and why you're my preferred broker. So if you're all good, I'll fire away with some questions, Ben.

Ben Clay:
Absolutely.

Who are the people behind Blueberry Markets?

Andrew M.:
The first question is, who are the people behind Blueberry?

Ben Clay:
Good question, one I get asked relatively often. Dean Hyde is actually basically the owner of Blueberry Markets, who I've known for about 11 years. We worked together at AxiTrader, who you obviously know, for some time. He just basically wanted to set up a broker where he thought there was a gap in the market, which was offering just really good, hands-on customer service and transparency to all of their clients. So he sort of separated from Axi a few years back and set out really on his own to come and set this up.

Ben Clay:
We're, of course, licenced through Eightcap, down in Melbourne, which is another firm who holds the FSL. Obviously, ASIC, it's very difficult to get your own licence when you're first starting out. So we're still under their licence, but they're a very strong financially-backed firm as well and they've been amazing to us. So technically it's Dean who's behind it, and then Eightcap who runs the licence is basically it.

Andrew M.:
Perfect. I think that's one of the nice things that I like about what you guys are. You're very personal group. It's real people. It's not a call centre. It's nice that you're dealing with real people all the time. And that's the feedback that I get from clients as well. It's always someone, like that.

Ben Clay:
Well, I'm really glad to hear that. That's what we set out to do, is have the real hands-on approach and be extremely accessible and transparent. So that's what we set out to do, and I think we've done pretty good at achieving that.

Where are your servers located?

Andrew M.:
I think you've done very well. Absolutely. So another question, Ben. Your servers, where are they located?

Ben Clay:
Our main servers are based in Hong Kong, so that's where the main server centre is. And while that might sound a bit strange, it's a pretty central location to a lot of our key demographics. Having said that, though, we do have data centres all around the world, so in the main DCs like London, New York, Tokyo, Sydney, as well. The reason for that is when you're connected to the platform on MT4, anyone who's ever used it, down the bottom right-hand corner, there's the little connection status.

Ben Clay:
You can actually click there and select the best data centre that's giving you the best latency. Most of the time for me,]]>880falsefullhttps://www.spreaker.com/episode/392-why-i-trade-with-low-risk-per-trade--41984766
Podcast:

#392: Why I Trade with Low Risk Per Trade
In this video:
00:29 – Why do you keep your risk per trade low?
01:03 - 2 things you must control
03:05 – This completely amazes me
04:08 – We also have high R:R trades
05:33 – Understanding the market and understanding yourself
06:10 – Our 2020 Black Friday 12 Hour Sale

I get asked all the time, why I trade with such low risk. Let me explain more right now.

Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 392.

Why do you keep your risk per trade low?

The question I get asked quite often is, "Andrew look, if you've been trading for so long and you know what you're doing, you know how to trade, why is it that you constantly promote and suggest other people trade with such low risk per trade?" And it's quite an interesting question because people think that, you can just go and risk crazy amounts and make exceptional returns. For me as a full-time trader, that's been doing this for close on 17 years, I can tell you that yes, you can make exceptional returns from the Forex market, but you can do that without risking crazy amounts.

2 things you must control

Now, for me, there's two things as a trader, that you have to control. One is your head. The other is your heart. If you can control those two emotions, then you are a long way down the track to helping yourself becoming a good trader. And for me, I've never really, had to worry about my trading because what I know I've got a strategy that works and I'm very comfortable trading it, and I know how to trade it. It's been proven for such a long time. But also because I trade with such low risk per trade, I can place trades. I've got trades on behind me right now. I can go to sleep. I can go away for the day. I can do all sorts of things without stressing about trades, because I know that every single trade that I place has a very low and a controlled stop loss. And I'm not talking about putting a stop loss at 10 pips or 50 pips or a hundred pips or anything like that.

I'm talking about if my trade gets stopped at and I place, my stop loss at a reason, not just at a number. In other words, I'm not placing it at 10 pips or 50 pips. I'm placing it at a level on the charts for a reason. Well, I know that that's say, got a good chance of not being stopped at, but let's say it does. And of course we all have trades that get stopped at. If it does, I know what my risk is as a percentage of my total account. And I can live with that because I know that it's not going to damage me. I know I can get up and trade again tomorrow. And that's the problem that I see so many traders having, and they have a losing streak and all of a sudden it's like, "Oh my goodness." It's the head and the heart, again. "I can't trade." Or. "I'm scared to trade." Or they see a really good setup and they go and take less risk than they normally would because they've had a string of losing trades.

And of course that becomes the trade that ends up winning. And they only make a small amount rather than what they should be making. So you see the issue.

This completely amazes me

Now, it still blows me away that I see they're just all over the internet, people saying, you should be risking 2%, 5% per trade. 5% per trade. I can have 10 trades in a row, go wrong and lose 5%, which hardly ever happens by the way. But I could have 10 trades in a row go wrong and I lose 5% of my account. These guys online are suggesting that you risk 5% per trade. You imagine what happens when you end up with three or four or five losing trades in a row. How are you feeling? Not only that is, what have you got to do as a percentage gain to make back that loss that you...]]>https://theforextradingcoach.com/?p=13155Sun, 15 Nov 2020 12:00:14 +0000Andrew MitchemWhy I Trade with Low Risk Per Trade  Podcast: #392: Why I Trade with Low Risk Per Trade In this video: 00:29 – Why do you keep your risk per trade low? 01:03 - 2 things you must control 03:05 – This completely amazes me 04:08 – We...
Podcast:

#392: Why I Trade with Low Risk Per Trade
In this video:
00:29 – Why do you keep your risk per trade low?
01:03 - 2 things you must control
03:05 – This completely amazes me
04:08 – We also have high R:R trades
05:33 – Understanding the market and understanding yourself
06:10 – Our 2020 Black Friday 12 Hour Sale

I get asked all the time, why I trade with such low risk. Let me explain more right now.

Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 392.

Why do you keep your risk per trade low?

The question I get asked quite often is, "Andrew look, if you've been trading for so long and you know what you're doing, you know how to trade, why is it that you constantly promote and suggest other people trade with such low risk per trade?" And it's quite an interesting question because people think that, you can just go and risk crazy amounts and make exceptional returns. For me as a full-time trader, that's been doing this for close on 17 years, I can tell you that yes, you can make exceptional returns from the Forex market, but you can do that without risking crazy amounts.

2 things you must control

Now, for me, there's two things as a trader, that you have to control. One is your head. The other is your heart. If you can control those two emotions, then you are a long way down the track to helping yourself becoming a good trader. And for me, I've never really, had to worry about my trading because what I know I've got a strategy that works and I'm very comfortable trading it, and I know how to trade it. It's been proven for such a long time. But also because I trade with such low risk per trade, I can place trades. I've got trades on behind me right now. I can go to sleep. I can go away for the day. I can do all sorts of things without stressing about trades, because I know that every single trade that I place has a very low and a controlled stop loss. And I'm not talking about putting a stop loss at 10 pips or 50 pips or a hundred pips or anything like that.

I'm talking about if my trade gets stopped at and I place, my stop loss at a reason, not just at a number. In other words, I'm not placing it at 10 pips or 50 pips. I'm placing it at a level on the charts for a reason. Well, I know that that's say, got a good chance of not being stopped at, but let's say it does. And of course we all have trades that get stopped at. If it does, I know what my risk is as a percentage of my total account. And I can live with that because I know that it's not going to damage me. I know I can get up and trade again tomorrow. And that's the problem that I see so many traders having, and they have a losing streak and all of a sudden it's like, "Oh my goodness." It's the head and the heart, again. "I can't trade." Or. "I'm scared to trade." Or they see a really good setup and they go and take less risk than they normally would because they've had a string of losing trades.

And of course that becomes the trade that ends up winning. And they only make a small amount rather than what they should be making. So you see the issue.

This completely amazes me

Now, it still blows me away that I see they're just all over the internet, people saying, you should be risking 2%, 5% per trade. 5% per trade. I can have 10 trades in a row, go wrong and lose 5%, which hardly ever happens by the way. But I could have 10 trades in a row go wrong and I lose 5% of my account. These guys online are suggesting that you risk 5% per trade. You imagine what happens when you end up with three or four or five losing trades in a row. How are you feeling? Not only that is, what have you got to do as a percentage gain to make back that loss that you...]]>410falsefullhttps://www.spreaker.com/episode/391-how-to-adapt-to-the-current-market-conditions--41858147
Podcast:

#391: How to Adapt to The Current Market Conditions
In this video:
00:29 – A very interesting week
00:58 – Needed to adapt to the market price action
02:02 – Client make a +6.1% gain on XAU/USD H2 chart
02:27 – Just 1 Daily chart trade for the week
03:22 – Trading the shorter time frame charts this week
04:09 – The way we trade at TFTC
04:28 – Trading next week onwards
05:12 – Keep a look out for our Black Friday Sale

As a forex trader, you need to be able to adapt to what is happening in the market at the current time. And I want to talk about that to help you in this week's video on podcast. So let's get into it right now.

Hey, forex traders, it is Andrew Mitchem here at The Forex Trading Coach with video and podcast number 391.

A very interesting week

Now, this week we have had quite a lot happening. We've had the US elections. Right now, as I'm speaking, we still don't know the outcome, and by the time you get to watch this video, you may or may not know the outcome, but with that in mind, the market has been a little bit different to many other weeks. And then later tonight, my time, we have the monthly Nonfarm payroll, the US monthly employment results coming through.

Needed to adapt to the market price action

So, what does that mean? Well, it's meant that the market's been quite difficult to trade, but also it means that we've had to adapt to what the market is giving us. And what I mean by that is we've got to look at different currency pairs, different timeframe charts in order to basically give us the right setup that's happening at the time. Now, as you know, I talk about trading on monthly charts, weekly charts, daily charts, 12-hour charts, six-hour charts, all those kinds of longer timeframe charts. Now, this week, it's been completely different due to what the market is giving us. And as an example, online webinar that I held just last night with my clients, which was a fantastic webinar with many, many trading examples, we focused on one and two-hour charts predominantly with a few four-hour charts.

And on the session, I took two two-hour chart trades, one on the Euro Australia and one on the Euro/New Zealand Dollar. And we took those live, and we explained the setups, et cetera, on that session.

Client make a +6.1% gain on XAU/USD H2 chart

Now, also on that session, we had a client who took a trade on gold and made us a massive 6.1% account gain on the two-hour chart on gold. And it just makes you realise that if you adapt to what the market is showing you, you can do very well in all conditions.

Just 1 Daily chart trade for the week

And as another example, this week, I've placed just one daily chart trade, just one the entire week. It was placed on Tuesday. It was an Australian Dollar-US Dollar trade on the daily chart. Go and have a look at your charts to see a bearish engulfing candle at the bottom of a downtrend, a double bottom off the bottom Bollinger Band. I believe we also had divergence. I think we all bounced off the 70 level, and we had a retracement all the trade that made a 2.5 to one reward the risk, and we had our market in order to make 1.6 to one reward the risk.

It would take a quarter percent at each of those two. In other words, half percent risk on total, on the two trades, one trade, two positions. We just over 1% just on the one trade. So we have adapted because we just haven't really seen many daily charts, just the one.

Trading the shorter time frame charts this week

We've also adapted because we've been trading predominantly the shorter timeframe charts this week because that's what the market has been telling us t...]]>https://theforextradingcoach.com/?p=13120Sun, 08 Nov 2020 11:33:25 +0000Andrew MitchemHow to Adapt to The Current Market Conditions  Podcast: #391: How to Adapt to The Current Market Conditions In this video: 00:29 – A very interesting week 00:58 – Needed to adapt to the market price action 02:02 – Client make a +6.1%...
Podcast:

#391: How to Adapt to The Current Market Conditions
In this video:
00:29 – A very interesting week
00:58 – Needed to adapt to the market price action
02:02 – Client make a +6.1% gain on XAU/USD H2 chart
02:27 – Just 1 Daily chart trade for the week
03:22 – Trading the shorter time frame charts this week
04:09 – The way we trade at TFTC
04:28 – Trading next week onwards
05:12 – Keep a look out for our Black Friday Sale

As a forex trader, you need to be able to adapt to what is happening in the market at the current time. And I want to talk about that to help you in this week's video on podcast. So let's get into it right now.

Hey, forex traders, it is Andrew Mitchem here at The Forex Trading Coach with video and podcast number 391.

A very interesting week

Now, this week we have had quite a lot happening. We've had the US elections. Right now, as I'm speaking, we still don't know the outcome, and by the time you get to watch this video, you may or may not know the outcome, but with that in mind, the market has been a little bit different to many other weeks. And then later tonight, my time, we have the monthly Nonfarm payroll, the US monthly employment results coming through.

Needed to adapt to the market price action

So, what does that mean? Well, it's meant that the market's been quite difficult to trade, but also it means that we've had to adapt to what the market is giving us. And what I mean by that is we've got to look at different currency pairs, different timeframe charts in order to basically give us the right setup that's happening at the time. Now, as you know, I talk about trading on monthly charts, weekly charts, daily charts, 12-hour charts, six-hour charts, all those kinds of longer timeframe charts. Now, this week, it's been completely different due to what the market is giving us. And as an example, online webinar that I held just last night with my clients, which was a fantastic webinar with many, many trading examples, we focused on one and two-hour charts predominantly with a few four-hour charts.

And on the session, I took two two-hour chart trades, one on the Euro Australia and one on the Euro/New Zealand Dollar. And we took those live, and we explained the setups, et cetera, on that session.

Client make a +6.1% gain on XAU/USD H2 chart

Now, also on that session, we had a client who took a trade on gold and made us a massive 6.1% account gain on the two-hour chart on gold. And it just makes you realise that if you adapt to what the market is showing you, you can do very well in all conditions.

Just 1 Daily chart trade for the week

And as another example, this week, I've placed just one daily chart trade, just one the entire week. It was placed on Tuesday. It was an Australian Dollar-US Dollar trade on the daily chart. Go and have a look at your charts to see a bearish engulfing candle at the bottom of a downtrend, a double bottom off the bottom Bollinger Band. I believe we also had divergence. I think we all bounced off the 70 level, and we had a retracement all the trade that made a 2.5 to one reward the risk, and we had our market in order to make 1.6 to one reward the risk.

It would take a quarter percent at each of those two. In other words, half percent risk on total, on the two trades, one trade, two positions. We just over 1% just on the one trade. So we have adapted because we just haven't really seen many daily charts, just the one.

Trading the shorter time frame charts this week

We've also adapted because we've been trading predominantly the shorter timeframe charts this week because that's what the market has been telling us t...]]>461falsefullhttps://www.spreaker.com/episode/390-how-to-future-proof-yourself--41742932
Podcast:

#390: How to Future Proof Yourself
In this video:
00:28 – What an interesting year 2020 has been
01:20 – Problems around the rest of the World
02:00 – Using other people’s money to trade?
03:45 – Take advantage of these ways of making money from trading
04:23 – TFTC Pattern Trader bots
05:28 – Trading off a small account size
06:42 – You need to future proof yourself and learn how to trade correctly

What would another corona virus lockdown mean for you? Is your job secure and what are you doing to future proof yourself? Let's talk about that and more, right now.

Hey, traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 390.

What an interesting year 2020 has been

So, it's been an interesting year, hasn't it? We're heading up to the US elections next week, and we've obviously had coronavirus cause issues right around the world. We're lucky here in some ways in New Zealand, we're very small, a couple of islands safely tucked away at the bottom of the world. We've only got one international airport that's open. We've only got three in total, but we've got one that's open. Very, very easy for us to control coronavirus here. Only 5 million people but even so, we can't move around. We can't travel overseas. Visitors are not coming in.

As a country, we rely on tourism and we're heading into summer now so there's going to be a lot of job losses here, a lot of problems coming.

Problems around the rest of the World

Around the rest of the world, Europe is getting... There's more and more problems. There's unrest, there's riots. There's more lockdowns coming and that's likely to cause huge problems and unemployment fear, et cetera like that.

And it comes back to exactly like I mentioned to you back in around March, April, May time about future-proofing yourself, but how you can use the Forex market to do that. I want to give you some examples of what people are actually doing right now along those lines.

Using other people’s money to trade?

The first example is a client who wrote on our forum site just this week. He said that his trading's going really well. He has found one of those sites online where you can prove yourself as a trader. You can then get a split between profits from someone else's funds. And so what he's doing is he's spent the last six months on the course understanding trading, getting to make it work. And now he's at that position where he can really profit from it, which is fantastic. He sent a screenshot on the forum site. He said last week on his first week with this account that he's trading on behalf of another company, he made 7.9% gain.

There's another email here and I've printed it out to read it to you. I won't give you the name of the company the guy's using, but he says I'm also looking at using the company and other funding providers. It looks like I'm out of work in the next five to six months so looking to transition to a full-time trader by then, and these funding providers are a very attractive option. He talks about the 70/30 profit split and they have a 10% challenge over 30 days and there's rules of maximum and minimums and draw downs and weekends, et cetera.

And he said on here, I hit a 10% profit last month. And he talks all about what he did and how he's going to approach this. At the end, he said this is a great way to accelerate the path to full-time trading. It's a very viable option.

Take advantage of these ways of making money from trading

So there are those type of companies out there,]]>https://theforextradingcoach.com/?p=13089Sun, 01 Nov 2020 12:00:42 +0000Andrew MitchemHow to Future Proof Yourself  Podcast: #390: How to Future Proof Yourself In this video: 00:28 – What an interesting year 2020 has been 01:20 – Problems around the rest of the World 02:00 – Using other people’s money to trade? 03:45 –...
Podcast:

#390: How to Future Proof Yourself
In this video:
00:28 – What an interesting year 2020 has been
01:20 – Problems around the rest of the World
02:00 – Using other people’s money to trade?
03:45 – Take advantage of these ways of making money from trading
04:23 – TFTC Pattern Trader bots
05:28 – Trading off a small account size
06:42 – You need to future proof yourself and learn how to trade correctly

What would another corona virus lockdown mean for you? Is your job secure and what are you doing to future proof yourself? Let's talk about that and more, right now.

Hey, traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 390.

What an interesting year 2020 has been

So, it's been an interesting year, hasn't it? We're heading up to the US elections next week, and we've obviously had coronavirus cause issues right around the world. We're lucky here in some ways in New Zealand, we're very small, a couple of islands safely tucked away at the bottom of the world. We've only got one international airport that's open. We've only got three in total, but we've got one that's open. Very, very easy for us to control coronavirus here. Only 5 million people but even so, we can't move around. We can't travel overseas. Visitors are not coming in.

As a country, we rely on tourism and we're heading into summer now so there's going to be a lot of job losses here, a lot of problems coming.

Problems around the rest of the World

Around the rest of the world, Europe is getting... There's more and more problems. There's unrest, there's riots. There's more lockdowns coming and that's likely to cause huge problems and unemployment fear, et cetera like that.

And it comes back to exactly like I mentioned to you back in around March, April, May time about future-proofing yourself, but how you can use the Forex market to do that. I want to give you some examples of what people are actually doing right now along those lines.

Using other people’s money to trade?

The first example is a client who wrote on our forum site just this week. He said that his trading's going really well. He has found one of those sites online where you can prove yourself as a trader. You can then get a split between profits from someone else's funds. And so what he's doing is he's spent the last six months on the course understanding trading, getting to make it work. And now he's at that position where he can really profit from it, which is fantastic. He sent a screenshot on the forum site. He said last week on his first week with this account that he's trading on behalf of another company, he made 7.9% gain.

There's another email here and I've printed it out to read it to you. I won't give you the name of the company the guy's using, but he says I'm also looking at using the company and other funding providers. It looks like I'm out of work in the next five to six months so looking to transition to a full-time trader by then, and these funding providers are a very attractive option. He talks about the 70/30 profit split and they have a 10% challenge over 30 days and there's rules of maximum and minimums and draw downs and weekends, et cetera.

And he said on here, I hit a 10% profit last month. And he talks all about what he did and how he's going to approach this. At the end, he said this is a great way to accelerate the path to full-time trading. It's a very viable option.

Take advantage of these ways of making money from trading

So there are those type of companies out there,]]>461falsefullhttps://www.spreaker.com/episode/389-important-questions-to-ask-a-forex-broker--41630319
Podcast:

#388: Should You Only Trade The Major Forex Pairs?
In this video:
00:22 – Joined by Ben Clay at Blueberry Markets
01:05 – How safe are your funds?
02:13 – Order types and hedging
03:30 – Can EU traders work with Blueberry?
03:56 – Can we get our money back if the broker goes bankrupt?
05:18 – What happens when you get sudden fluctuations in the market?
07:06 – Can some trades missed being filled?
08:19 – What makes Blueberry Markets different?
10:08 – Email me if you’d like to ask Blueberry Markets another question

Andrew Mitchem:
Today, we're going to be answering your questions and the number one question that you want to ask a Forex broker. Let's get into it right now.

Andrew Mitchem:
Hey, traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 389.

Joined by Ben Clay at Blueberry Markets

Now, something a little bit different today. We're joined by Ben Clay at Blueberry Markets over in Australia. Hi there, Ben.

Ben:
Good day, Andrew. How are you?

Andrew Mitchem:
I'm fantastic and hope you are well too.

Ben:
Thanks, mate.

Andrew Mitchem:
Good. We've got something different. And last week, I asked a lot of questions to people and said, look, I want to know from you what's your most important thing that if you could ask a Forex broker directly and we had a lot of questions come through. What I've done, Ben, I've just listed the main important topics. And if we can, I'd like to ask you those questions and just get your feedback on that so we can help people when deciding who to look for for a Forex broker.

Ben:
Absolutely. Absolutely, mate.

How safe are your funds?

Andrew Mitchem:
We'll start with this one is from a guy called Percy over in the United Arab Emirates. And Percy said, and this is a very common question. How safe is my money if the broker goes bankrupt, even if they're regulated?

Ben:
Very good question, Percy. It's one that I get asked very often as well, and is a question that you should be asking your broker, in my opinion. When it comes to any financial institution, there's risks no matter where you hold your funds. Even if it's in with the bank, there's always risks holding funds at any financial institution.

Ben:
However, in Australia, we're regulated by ASIC, the Australian Securities and Investments Commission, which enforced the Australian Client Money Laws. This is something that's been in place over the last 10 years or so, I believe, and very strict and diligent. Basically, it states that client's funds are segregated and kept separate from our daily operating funds, can't pay for staff wages, company losses, anything along those lines. But having said that, again, I cannot say the funds are 100% safe, but we are overly compliance here at Blueberry and follow these laws very closely to ensure that client funds are as safe as they possibly can be.

Order types and hedging

Andrew Mitchem:
Perfect. Thank you, Ben. Second question from Antonio over in Barcelona in Spain. Do you allow pending audit trading with expert advisors, robots? And do you also allow hedging?

Ben:
Oh, okay. We allow any expert advisors. That's no issues at all and they can place pending orders. We have the four basic types of buy limit, sell limit, buy stop, sell stop, and we do allow hedging. I actually would like to touch on that a little bit because hedging is something I think there's a little bit of misconception around where clients can hedge a trade and it's used as protection.

Ben:]]>https://theforextradingcoach.com/?p=13075Sun, 25 Oct 2020 12:00:33 +0000Andrew MitchemShould You Only Trade The Major Forex Pairs?  Podcast: #388: Should You Only Trade The Major Forex Pairs? In this video: 00:22 – Joined by Ben Clay at Blueberry Markets 01:05 – How safe are your funds? 02:13 – Order types and hedging...
Podcast:

#388: Should You Only Trade The Major Forex Pairs?
In this video:
00:22 – Joined by Ben Clay at Blueberry Markets
01:05 – How safe are your funds?
02:13 – Order types and hedging
03:30 – Can EU traders work with Blueberry?
03:56 – Can we get our money back if the broker goes bankrupt?
05:18 – What happens when you get sudden fluctuations in the market?
07:06 – Can some trades missed being filled?
08:19 – What makes Blueberry Markets different?
10:08 – Email me if you’d like to ask Blueberry Markets another question

Andrew Mitchem:
Today, we're going to be answering your questions and the number one question that you want to ask a Forex broker. Let's get into it right now.

Andrew Mitchem:
Hey, traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 389.

Joined by Ben Clay at Blueberry Markets

Now, something a little bit different today. We're joined by Ben Clay at Blueberry Markets over in Australia. Hi there, Ben.

Ben:
Good day, Andrew. How are you?

Andrew Mitchem:
I'm fantastic and hope you are well too.

Ben:
Thanks, mate.

Andrew Mitchem:
Good. We've got something different. And last week, I asked a lot of questions to people and said, look, I want to know from you what's your most important thing that if you could ask a Forex broker directly and we had a lot of questions come through. What I've done, Ben, I've just listed the main important topics. And if we can, I'd like to ask you those questions and just get your feedback on that so we can help people when deciding who to look for for a Forex broker.

Ben:
Absolutely. Absolutely, mate.

How safe are your funds?

Andrew Mitchem:
We'll start with this one is from a guy called Percy over in the United Arab Emirates. And Percy said, and this is a very common question. How safe is my money if the broker goes bankrupt, even if they're regulated?

Ben:
Very good question, Percy. It's one that I get asked very often as well, and is a question that you should be asking your broker, in my opinion. When it comes to any financial institution, there's risks no matter where you hold your funds. Even if it's in with the bank, there's always risks holding funds at any financial institution.

Ben:
However, in Australia, we're regulated by ASIC, the Australian Securities and Investments Commission, which enforced the Australian Client Money Laws. This is something that's been in place over the last 10 years or so, I believe, and very strict and diligent. Basically, it states that client's funds are segregated and kept separate from our daily operating funds, can't pay for staff wages, company losses, anything along those lines. But having said that, again, I cannot say the funds are 100% safe, but we are overly compliance here at Blueberry and follow these laws very closely to ensure that client funds are as safe as they possibly can be.

Order types and hedging

Andrew Mitchem:
Perfect. Thank you, Ben. Second question from Antonio over in Barcelona in Spain. Do you allow pending audit trading with expert advisors, robots? And do you also allow hedging?

Ben:
Oh, okay. We allow any expert advisors. That's no issues at all and they can place pending orders. We have the four basic types of buy limit, sell limit, buy stop, sell stop, and we do allow hedging. I actually would like to touch on that a little bit because hedging is something I think there's a little bit of misconception around where clients can hedge a trade and it's used as protection.

Ben:]]>640falsefullhttps://www.spreaker.com/episode/388-should-you-only-trade-the-major-forex-pairs--41520718
Podcast:

#388: Should You Only Trade The Major Forex Pairs?
In this video:
00:26 – 2 things to talk about today
00:53 – How do you know which pairs to trade?
01:43 – Should you only trade the Majors?
02:28 – My trading routine
04:55 – It doesn’t matter which pairs I trade
05:18 – All covered in my 5 star rated coaching course
05:42 – I’ll be interviewing Blueberry Markets – let me know your questions

How do you know which Forex pairs to trade? And when? Let's talk about that and more right now.

Hey, Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach with the video and podcast number 388.

2 things to talk about today

Now I've got two things to talk about. The first, I want to talk about how I can help you to know which Forex pairs to trade.

And secondly, at the end of the video, I'm going to explain about next week's video and podcast when I'm going to be interviewing, Ben Clay from Blueberry Markets and I want to know from you, what's your number one question you'd like me to ask Blueberry Markets to Forex Brokers. So we'll talk about that at the end.

How do you know which pairs to trade?

So back to the first point, how do you know which Forex pairs to trade? Now, it's a problem that a lot of people come to me and they say, hey Andrew, look, I just don't know what to trade.

There's a lot of currency pairs out there, which ones should I look at? And as Forex traders, we're quite a fortunate position when you think about it. And that we really only have eight main currencies to look at and the combinations of each. Now of course there's extra currencies like Norwegian kroner and Swedish krona and South African rand and all those. But there's really the main eight. Unlike most other markets out there where there could be hundreds or even thousands of different stocks and shares and companies to look at. So we do have an advantage, but it's still confusing for a lot of people.

Should you only trade the Majors?

And now another thing is a number of people also suggest that you should just look at the main currency pairs, the majors, and that will be like the GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, USD/CAD.

And you start to see the problem there is that they all have the US Dollar in them. Now let's say the US Dollar happens to be quite flat. Then there may not be many opportunities there, and that becomes the issue or the US Dollar is very strong or very weak, and they'll move together and then things suddenly change around and they all come and stop you and that becomes the problem when you trade just the majors. So what I like to do this is my routine.

My trading routine

At the beginning of each week, I scan the weekly charts on all the currency pairs or the main character pairs. There's about 28 of them. And by setting up my weekly charts as a profile on my MetaTrader Platform, it's very easy to get all the Euro pairs, all the Pound pairs, all the Aussie pairs, all the Kiwi pairs and just scan through and see what's happening on the weekly charts.

There'll be some trades there most weeks, but even if there are no trades or very few trades off the weekly charts themselves, what they do is they give me an overall biases, this country pairs a little bit indecisive, or this one strongly bullish, or this one's very bearish and is that likely to continue for the upcoming week, yes or no?.

And it allows me to basically to plan that bigger picture. And then at the beginning of each new day, I then do exactly the same process,]]>https://theforextradingcoach.com/?p=13063Sun, 18 Oct 2020 12:27:21 +0000Andrew MitchemShould You Only Trade The Major Forex Pairs?  Podcast: #388: Should You Only Trade The Major Forex Pairs? In this video: 00:26 – 2 things to talk about today 00:53 – How do you know which pairs to trade? 01:43 – Should you only trade...
Podcast:

#388: Should You Only Trade The Major Forex Pairs?
In this video:
00:26 – 2 things to talk about today
00:53 – How do you know which pairs to trade?
01:43 – Should you only trade the Majors?
02:28 – My trading routine
04:55 – It doesn’t matter which pairs I trade
05:18 – All covered in my 5 star rated coaching course
05:42 – I’ll be interviewing Blueberry Markets – let me know your questions

How do you know which Forex pairs to trade? And when? Let's talk about that and more right now.

Hey, Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach with the video and podcast number 388.

2 things to talk about today

Now I've got two things to talk about. The first, I want to talk about how I can help you to know which Forex pairs to trade.

And secondly, at the end of the video, I'm going to explain about next week's video and podcast when I'm going to be interviewing, Ben Clay from Blueberry Markets and I want to know from you, what's your number one question you'd like me to ask Blueberry Markets to Forex Brokers. So we'll talk about that at the end.

How do you know which pairs to trade?

So back to the first point, how do you know which Forex pairs to trade? Now, it's a problem that a lot of people come to me and they say, hey Andrew, look, I just don't know what to trade.

There's a lot of currency pairs out there, which ones should I look at? And as Forex traders, we're quite a fortunate position when you think about it. And that we really only have eight main currencies to look at and the combinations of each. Now of course there's extra currencies like Norwegian kroner and Swedish krona and South African rand and all those. But there's really the main eight. Unlike most other markets out there where there could be hundreds or even thousands of different stocks and shares and companies to look at. So we do have an advantage, but it's still confusing for a lot of people.

Should you only trade the Majors?

And now another thing is a number of people also suggest that you should just look at the main currency pairs, the majors, and that will be like the GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, USD/CAD.

And you start to see the problem there is that they all have the US Dollar in them. Now let's say the US Dollar happens to be quite flat. Then there may not be many opportunities there, and that becomes the issue or the US Dollar is very strong or very weak, and they'll move together and then things suddenly change around and they all come and stop you and that becomes the problem when you trade just the majors. So what I like to do this is my routine.

My trading routine

At the beginning of each week, I scan the weekly charts on all the currency pairs or the main character pairs. There's about 28 of them. And by setting up my weekly charts as a profile on my MetaTrader Platform, it's very easy to get all the Euro pairs, all the Pound pairs, all the Aussie pairs, all the Kiwi pairs and just scan through and see what's happening on the weekly charts.

There'll be some trades there most weeks, but even if there are no trades or very few trades off the weekly charts themselves, what they do is they give me an overall biases, this country pairs a little bit indecisive, or this one strongly bullish, or this one's very bearish and is that likely to continue for the upcoming week, yes or no?.

And it allows me to basically to plan that bigger picture. And then at the beginning of each new day, I then do exactly the same process,]]>296falsefullhttps://www.spreaker.com/episode/387-how-to-prevent-your-stop-loss-from-being-hit--41406828
Podcast:

#387: How to Prevent your Stop Loss from being Hit
In this video:
00:25 – Stop loss placement
01:04 – Examples shown on our weekly webinar
03:00 – The benefits of having the stop loss protected by a round number
03:33 – EUR/CAD trade makes a +1.5% account gain with low and controlled risk
04:32 – Details about how you can learn how to take trades like this too 

What measures can you take to prevent your stock loss from being hit all the time? Let's talk about that more right now.

Hey, Forex traders, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 387.

Stop loss placement

I want to talk about an issue that affects all of us, and it's talking about stop loss placement and how to place your stop loss why and where, and what can you do to give yourself a higher probability chance of success within your trade and to prevent your trade from being stopped out? And this was a discussion that we had on our live clients webinar just last night my time. I was asked by a new client that's just joined us this week, and he said, "Look, I've been through the course, loving the concept and how you're going, but what measures do you put in place to help protect your stop loss?"

Examples shown on our weekly webinar And so I showed a lot of examples, as I do every week, that have stop loss protection. Now, what I mean by that is this. It's not just placing your stop loss at X number of pips. It's not even placing your stop loss, according to the way that we trade with fibs, extensions, and retracements, but it's also having extra protection in place to prevent that stop loss being stopped out. Now, a perfect example of that would be to have your stop loss on a sell trade above a round number. Now, we took a trade on that webinar yesterday, and you're going to see it on your charts. It's on the Euro-Canadian dollar on the one hour chart on the 8th of October. And we took a sell trade, and the trade had just come down through the 156 level 1.5600. And it had broken below that level. It closed below that level.

We saw the setup that what we're looking for, we had the trendline break in place, we had divergence, we had below the pivot point, all the things we're looking for with a candle set up. Everything was really good there. Room to move to the profit target. But what we had is we had the ability to put our stop loss above 156, above that round number. And what that was basically saying was, on this trade, if the price then pulls back and goes to 156 and back beyond it, we get stopped out, we accept that we lose on the trade, but we have controlled low risk on that trade. So if the trade got stopped out, then we lose. We accept that. That's part of trading. But what we also had in our favour was we knew that the 156 level had been a strong level in the past, and we knew that it was a round number, and those psychological levels are very, very important.

The benefits of having the stop loss protected by a round number

And by placing our stop loss above that level, it meant that not only did we have our stop loss above the high of the candle and a swing high, it meant that the price to go and break that strong barrier in order to take us out. And as it happened, the price dropped and it did exactly as we thought it would do, and it moved to the previous main swing low, and it gave us a three to one reward to risk trade in under three hours. In under three candles, profit target had been hit for a three to one reward to risk trade.

EUR/CAD trade makes a +1.5% account gain with low and controlled risk

Now, if you placed half of 1% of your account on that one position, you'd have made a one and a half percent accoun...]]>https://theforextradingcoach.com/?p=13038Sun, 11 Oct 2020 12:00:08 +0000Andrew MitchemHow to Prevent your Stop Loss from being Hit  Podcast: #387: How to Prevent your Stop Loss from being Hit In this video: 00:25 – Stop loss placement 01:04 – Examples shown on our weekly webinar 03:00 – The benefits of having the stop...
Podcast:

#387: How to Prevent your Stop Loss from being Hit
In this video:
00:25 – Stop loss placement
01:04 – Examples shown on our weekly webinar
03:00 – The benefits of having the stop loss protected by a round number
03:33 – EUR/CAD trade makes a +1.5% account gain with low and controlled risk
04:32 – Details about how you can learn how to take trades like this too 

What measures can you take to prevent your stock loss from being hit all the time? Let's talk about that more right now.

Hey, Forex traders, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 387.

Stop loss placement

I want to talk about an issue that affects all of us, and it's talking about stop loss placement and how to place your stop loss why and where, and what can you do to give yourself a higher probability chance of success within your trade and to prevent your trade from being stopped out? And this was a discussion that we had on our live clients webinar just last night my time. I was asked by a new client that's just joined us this week, and he said, "Look, I've been through the course, loving the concept and how you're going, but what measures do you put in place to help protect your stop loss?"

Examples shown on our weekly webinar And so I showed a lot of examples, as I do every week, that have stop loss protection. Now, what I mean by that is this. It's not just placing your stop loss at X number of pips. It's not even placing your stop loss, according to the way that we trade with fibs, extensions, and retracements, but it's also having extra protection in place to prevent that stop loss being stopped out. Now, a perfect example of that would be to have your stop loss on a sell trade above a round number. Now, we took a trade on that webinar yesterday, and you're going to see it on your charts. It's on the Euro-Canadian dollar on the one hour chart on the 8th of October. And we took a sell trade, and the trade had just come down through the 156 level 1.5600. And it had broken below that level. It closed below that level.

We saw the setup that what we're looking for, we had the trendline break in place, we had divergence, we had below the pivot point, all the things we're looking for with a candle set up. Everything was really good there. Room to move to the profit target. But what we had is we had the ability to put our stop loss above 156, above that round number. And what that was basically saying was, on this trade, if the price then pulls back and goes to 156 and back beyond it, we get stopped out, we accept that we lose on the trade, but we have controlled low risk on that trade. So if the trade got stopped out, then we lose. We accept that. That's part of trading. But what we also had in our favour was we knew that the 156 level had been a strong level in the past, and we knew that it was a round number, and those psychological levels are very, very important.

The benefits of having the stop loss protected by a round number

And by placing our stop loss above that level, it meant that not only did we have our stop loss above the high of the candle and a swing high, it meant that the price to go and break that strong barrier in order to take us out. And as it happened, the price dropped and it did exactly as we thought it would do, and it moved to the previous main swing low, and it gave us a three to one reward to risk trade in under three hours. In under three candles, profit target had been hit for a three to one reward to risk trade.

EUR/CAD trade makes a +1.5% account gain with low and controlled risk

Now, if you placed half of 1% of your account on that one position, you'd have made a one and a half percent accoun...]]>296falsefullhttps://www.spreaker.com/episode/386-the-problem-with-retirement-savings-plans--41290231
Podcast:

#386: The Problem with Retirement Savings Plans
In this video:
00:27 – Kiwisaver and the hidden costs
02:20 – Why would you invest in this?
03:28 – Retirement and the Forex market
05:15 – You need to understand the FX market before trading funds
05:58 – A week of retirement related emails this week
06:16 – Webinars for traders, both new and experienced

Why do people pay massive fees to money managers, only for the money managers to lose their funds? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 386.

Kiwisaver and the hidden costs

Now I've just heard on the news today about here in New Zealand, the KiwiSaver. So KiwiSaver's a bit like a retirement fund that people contribute and employers contribute into in the States, they call it a 401k. So it's basically a national kind of retirement fund where you choose the company that you want to invest with. And anyway, so results here. This is coming today, Friday, the 2nd of October, and this is saying that KiwiSaver members here in New Zealand, and bear in mind, we're a very small country of under 5 million people, total people. KiwiSaver members paid $538.9 million to the managers handling their money over the year to March.

So here we are in October, this report's only up until March 2020. But they lost a combined $820.9 million in the first quarter, up until the end of the first quarter of this year. And of course they're blaming it on the stock market plummeting and the United States market recorded its fastest 30% drop on record. They're going... Talking about that and they're basically blaming COVID, but this was up until the end of March. Now COVID didn't really hardly take effect until then. It may have for the first month or few weeks, but imagine what it's going to be for April to March 2020 into 2021, the year that we're currently in right now. So they lost 800 and almost $821 million combined, but they charged their members nearly 540 million in management fees.

Why would you invest in this?

And that just got me thinking, it's like, well, that is just ludicrous. Why are people doing things like that?

You know, I realise that the traditional ways of investing or putting your money into term deposits and into banks and things like that, and obviously with interest rates being so low around the world, things like this KiwiSaver, where they encourage all basically people in employment to go and do. And encourage young people to go and do it. And now, in some ways it has some merit, I suppose, because it gets people thinking about what they should do with their funds and retirement, et cetera, like that where I'm just wasting it all, especially for younger people. So I'm not knocking the idea, but the reality is, is these people are losing money and paying a fortune in fees for the privilege of getting nowhere. And like I said, this is only up until the end of March 2020. So you can't blame coronavirus and you can't blame plummeting stock markets and things like that because that's all going to come in this year.

So what's this figure going to be like this time next year?

Retirement and the Forex market

So it got me thinking, well, I've talked about retirement before. This week, when you get to watch this video, I'm going to be sending out a series of emails regarding how I look at the Forex market and how I believe that you can use that correctly with low risk to aid you with retirement. So it doesn't matter whether you're 20 years old and retirement's just this distant thing,]]>https://theforextradingcoach.com/?p=13029Sun, 04 Oct 2020 12:00:35 +0000Andrew MitchemThe Problem with Retirement Savings Plans  Podcast: #386: The Problem with Retirement Savings Plans In this video: 00:27 – Kiwisaver and the hidden costs 02:20 – Why would you invest in this? 03:28 – Retirement and the Forex market 05:15...
Podcast:

#386: The Problem with Retirement Savings Plans
In this video:
00:27 – Kiwisaver and the hidden costs
02:20 – Why would you invest in this?
03:28 – Retirement and the Forex market
05:15 – You need to understand the FX market before trading funds
05:58 – A week of retirement related emails this week
06:16 – Webinars for traders, both new and experienced

Why do people pay massive fees to money managers, only for the money managers to lose their funds? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 386.

Kiwisaver and the hidden costs

Now I've just heard on the news today about here in New Zealand, the KiwiSaver. So KiwiSaver's a bit like a retirement fund that people contribute and employers contribute into in the States, they call it a 401k. So it's basically a national kind of retirement fund where you choose the company that you want to invest with. And anyway, so results here. This is coming today, Friday, the 2nd of October, and this is saying that KiwiSaver members here in New Zealand, and bear in mind, we're a very small country of under 5 million people, total people. KiwiSaver members paid $538.9 million to the managers handling their money over the year to March.

So here we are in October, this report's only up until March 2020. But they lost a combined $820.9 million in the first quarter, up until the end of the first quarter of this year. And of course they're blaming it on the stock market plummeting and the United States market recorded its fastest 30% drop on record. They're going... Talking about that and they're basically blaming COVID, but this was up until the end of March. Now COVID didn't really hardly take effect until then. It may have for the first month or few weeks, but imagine what it's going to be for April to March 2020 into 2021, the year that we're currently in right now. So they lost 800 and almost $821 million combined, but they charged their members nearly 540 million in management fees.

Why would you invest in this?

And that just got me thinking, it's like, well, that is just ludicrous. Why are people doing things like that?

You know, I realise that the traditional ways of investing or putting your money into term deposits and into banks and things like that, and obviously with interest rates being so low around the world, things like this KiwiSaver, where they encourage all basically people in employment to go and do. And encourage young people to go and do it. And now, in some ways it has some merit, I suppose, because it gets people thinking about what they should do with their funds and retirement, et cetera, like that where I'm just wasting it all, especially for younger people. So I'm not knocking the idea, but the reality is, is these people are losing money and paying a fortune in fees for the privilege of getting nowhere. And like I said, this is only up until the end of March 2020. So you can't blame coronavirus and you can't blame plummeting stock markets and things like that because that's all going to come in this year.

So what's this figure going to be like this time next year?

Retirement and the Forex market

So it got me thinking, well, I've talked about retirement before. This week, when you get to watch this video, I'm going to be sending out a series of emails regarding how I look at the Forex market and how I believe that you can use that correctly with low risk to aid you with retirement. So it doesn't matter whether you're 20 years old and retirement's just this distant thing,]]>437falsefullhttps://www.spreaker.com/episode/385-my-trading-account-is-up-17-for-the-month--41157463
Podcast:

#385: My Trading Account is up +17% for the Month
In this video:
00:25 – A great September with a +17% gain
01:05 – More bad news from around the World
01:50 – What are you doing about it?
03:00 – Client makes +3.7% gain from 4 trades this week
04:37 – Hindsight trading is pointless

I'm up 17% for the month of September so far. Let me share with you how I've done that.

Hey, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast #385.

A great September with a +17% gain

And as mentioned, I'm up 17% for the month of September so far, with still four days to go. I'd like to explain how that has happened and how you can take advantage of the market movements that we're seeing right now.

Now go have a look at your charts, should have seen we've had big falls in currencies like the Australian dollar, the New Zealand dollar, the euro and the pound. Gold and silver have been falling as well, and the US dollar has been climbing dramatically. And so we've seen some big movements in the market over the last couple of weeks. And so we've been able to take advantage of those.

More bad news from around the World

But moving on to other things, depending on where you live in the world, you would have seen that coronavirus is back in the news again. Countries like the UK and parts of Europe going into lockdowns again. Unemployment is going up around the world. Interest rates are crashing. I've just received an email from one of my bank accounts or bank saying that they are going to now pay me a massive 0.1% interest for the year, which is absolutely outstanding. I'm thrilled to be receiving 0.1. No, I'm not. Absolutely no, I'm not. Why would I have money in the bank when I've just made 17% in a month? Most of that on auto trading, which I'm going to share with you. So think about it.

What are you doing about it?

What is it that you can do to get yourself knowledgeable about these markets? I walked around town recently, the amount of shops that are starting to become vacant, owning commercial property, owning a shop in town, it's not particularly good right now and probably not going to get better for a long, long time if ever.

And as I mentioned, unemployment rates are going up again, government schemes to keep people in employment or giving them monetary handouts for the last few months, certainly here in New Zealand, that's about to stop. Governments cannot afford to just keep handing out money all the time. It's crazy. There's going to be generations of people paying that off in taxes for their lifetime. So it comes back to, that's why I trade the Forex market. Here I am at home, trading, enjoying it, doing other things, but it comes about from that work and dedication at the beginning. So you have to put that effort of time dedication into it.

Client makes +3.7% gain from 4 trades this week

Just last night, I held a webinar with my clients, about two hour webinar, and I had a client Atamas. Atamas sent me four trades that he's taken this week and he's made 3.7% gain, just on four trades. Showed them the screenshots of the trade, the entry exits, the position, why he got in. And we talked about that during the webinar, we do that on all of our webinars.

We're looking at trades that people are taking, we're looking at taking trades live. And I also shared with my clients, our amazing pattern trader software, and you can find a link to it. I'll put it on this video and podcast. It's called tftcpatterntrader.com. It's our automated trading software and you can take advantage of ...]]>https://theforextradingcoach.com/?p=13000Sun, 27 Sep 2020 12:00:05 +0000Andrew MitchemMy Trading Account is up +17% for the Month  Podcast: #385: My Trading Account is up +17% for the Month In this video: 00:25 – A great September with a +17% gain 01:05 – More bad news from around the World 01:50 – What are you doing about...
Podcast:

#385: My Trading Account is up +17% for the Month
In this video:
00:25 – A great September with a +17% gain
01:05 – More bad news from around the World
01:50 – What are you doing about it?
03:00 – Client makes +3.7% gain from 4 trades this week
04:37 – Hindsight trading is pointless

I'm up 17% for the month of September so far. Let me share with you how I've done that.

Hey, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast #385.

A great September with a +17% gain

And as mentioned, I'm up 17% for the month of September so far, with still four days to go. I'd like to explain how that has happened and how you can take advantage of the market movements that we're seeing right now.

Now go have a look at your charts, should have seen we've had big falls in currencies like the Australian dollar, the New Zealand dollar, the euro and the pound. Gold and silver have been falling as well, and the US dollar has been climbing dramatically. And so we've seen some big movements in the market over the last couple of weeks. And so we've been able to take advantage of those.

More bad news from around the World

But moving on to other things, depending on where you live in the world, you would have seen that coronavirus is back in the news again. Countries like the UK and parts of Europe going into lockdowns again. Unemployment is going up around the world. Interest rates are crashing. I've just received an email from one of my bank accounts or bank saying that they are going to now pay me a massive 0.1% interest for the year, which is absolutely outstanding. I'm thrilled to be receiving 0.1. No, I'm not. Absolutely no, I'm not. Why would I have money in the bank when I've just made 17% in a month? Most of that on auto trading, which I'm going to share with you. So think about it.

What are you doing about it?

What is it that you can do to get yourself knowledgeable about these markets? I walked around town recently, the amount of shops that are starting to become vacant, owning commercial property, owning a shop in town, it's not particularly good right now and probably not going to get better for a long, long time if ever.

And as I mentioned, unemployment rates are going up again, government schemes to keep people in employment or giving them monetary handouts for the last few months, certainly here in New Zealand, that's about to stop. Governments cannot afford to just keep handing out money all the time. It's crazy. There's going to be generations of people paying that off in taxes for their lifetime. So it comes back to, that's why I trade the Forex market. Here I am at home, trading, enjoying it, doing other things, but it comes about from that work and dedication at the beginning. So you have to put that effort of time dedication into it.

Client makes +3.7% gain from 4 trades this week

Just last night, I held a webinar with my clients, about two hour webinar, and I had a client Atamas. Atamas sent me four trades that he's taken this week and he's made 3.7% gain, just on four trades. Showed them the screenshots of the trade, the entry exits, the position, why he got in. And we talked about that during the webinar, we do that on all of our webinars.

We're looking at trades that people are taking, we're looking at taking trades live. And I also shared with my clients, our amazing pattern trader software, and you can find a link to it. I'll put it on this video and podcast. It's called tftcpatterntrader.com. It's our automated trading software and you can take advantage of ...]]>337falsefullhttps://www.spreaker.com/episode/384-you-cannot-become-a-doctor-from-reading-an-e-book--41019474
Podcast:

#384: You cannot become a Doctor from reading an e-book
In this video:
00:26 – A new review on Forex Peace Army
01:25 – A trader’s journey
02:15 – Trading is limitless
02:40 – Making 10% gain per month
03:03 – Why traders fail
04:10 – Trading can be lonely
05:03 – Have a look at the review

You cannot become a doctor just by reading an e-book, so how do you think trading's going to be any different? Let's talk about that and more right now.

Hey, Forex traders, Andrew Mitchem here, the owner of the Forex Training Coach with video and podcast number 384.

A new review on Forex Peace Army

I want to talk about a review that I've just received on the Forex Peace Army website by a client of mine over in Germany called Simsek. Now, Simsek has written a review, his third review on Forex Peace Army, and it's been 10 months since he posted his last review. I'd really urge you to go and have a look at it. It's a very long, detailed, comprehensive explanation about his whole trading experience, and I know that you will find something in that that will resonate with you and something that will really help you. You see, what I love about the review is it's honest and it gives his whole detailed explanation of where he's come from, what he's done and what he's currently doing now.

I'm going to put a link to the Forex Peace Army review site on this post, underneath this video.

A trader’s journey

What Simsek has done, which is so cool, is he said about the trials that he faced when he was looking around trying to become a trader, and he said that he looked everywhere. He's been on all sorts of different systems and e-books and things like that, and bought indicators looking for that magic holy grail, like everybody wants, do it for me, make it easy system. He realised it wasn't there. It just doesn't exist.

But what he's done, since he's joined us, is he's put in time, effort, some hard work, some dedication and he's getting results. Like I said, it's the third review, so you can go back and look at his other two reviews back into 2019, and now see this latest one in mid September, 2020.

Trading is limitless

He's also posted on there to say that trading is limitless, and he's absolutely right. Trading is like no other job or anything out there, and that once you know how to do it, your income is only really dictated by the size of your account.

But to start with, you've got to learn how to do things properly, and that's where he's at right now. In fact.

Making 10% gain per month

What he said is, in the last 10 months, since his previous review, he's made on average 10% per month. He's also said he's only had three or four losing weeks in that time. He's mostly been trading one-hour charts and know due to other things that he has in his life, he's developed into the longer timeframe charts, like the four, six, eight, twelve, and daily charts.

Why traders fail

But what he's also done in that post is he's put in there about why people fail. Go and have a read of it. Like I said, it's really, really valuable information.

Now, if you've struggled through your trading, you're going to find something he's written in there is exactly what you've gone and done. It's about not sticking to the system about, sort of failing to have dedication, all those type of things. He also mentions, which is a very valuable point and I've said this before on previous videos and podcast here, is he's talked about what I provide, the strategy,]]>https://theforextradingcoach.com/?p=12985Sun, 20 Sep 2020 12:00:59 +0000Andrew MitchemYou cannot become a Doctor from reading an e-book  Podcast: #384: You cannot become a Doctor from reading an e-book In this video: 00:26 – A new review on Forex Peace Army 01:25 – A trader’s journey 02:15 – Trading is limitless 02:40 –...
Podcast:

#384: You cannot become a Doctor from reading an e-book
In this video:
00:26 – A new review on Forex Peace Army
01:25 – A trader’s journey
02:15 – Trading is limitless
02:40 – Making 10% gain per month
03:03 – Why traders fail
04:10 – Trading can be lonely
05:03 – Have a look at the review

You cannot become a doctor just by reading an e-book, so how do you think trading's going to be any different? Let's talk about that and more right now.

Hey, Forex traders, Andrew Mitchem here, the owner of the Forex Training Coach with video and podcast number 384.

A new review on Forex Peace Army

I want to talk about a review that I've just received on the Forex Peace Army website by a client of mine over in Germany called Simsek. Now, Simsek has written a review, his third review on Forex Peace Army, and it's been 10 months since he posted his last review. I'd really urge you to go and have a look at it. It's a very long, detailed, comprehensive explanation about his whole trading experience, and I know that you will find something in that that will resonate with you and something that will really help you. You see, what I love about the review is it's honest and it gives his whole detailed explanation of where he's come from, what he's done and what he's currently doing now.

I'm going to put a link to the Forex Peace Army review site on this post, underneath this video.

A trader’s journey

What Simsek has done, which is so cool, is he said about the trials that he faced when he was looking around trying to become a trader, and he said that he looked everywhere. He's been on all sorts of different systems and e-books and things like that, and bought indicators looking for that magic holy grail, like everybody wants, do it for me, make it easy system. He realised it wasn't there. It just doesn't exist.

But what he's done, since he's joined us, is he's put in time, effort, some hard work, some dedication and he's getting results. Like I said, it's the third review, so you can go back and look at his other two reviews back into 2019, and now see this latest one in mid September, 2020.

Trading is limitless

He's also posted on there to say that trading is limitless, and he's absolutely right. Trading is like no other job or anything out there, and that once you know how to do it, your income is only really dictated by the size of your account.

But to start with, you've got to learn how to do things properly, and that's where he's at right now. In fact.

Making 10% gain per month

What he said is, in the last 10 months, since his previous review, he's made on average 10% per month. He's also said he's only had three or four losing weeks in that time. He's mostly been trading one-hour charts and know due to other things that he has in his life, he's developed into the longer timeframe charts, like the four, six, eight, twelve, and daily charts.

Why traders fail

But what he's also done in that post is he's put in there about why people fail. Go and have a read of it. Like I said, it's really, really valuable information.

Now, if you've struggled through your trading, you're going to find something he's written in there is exactly what you've gone and done. It's about not sticking to the system about, sort of failing to have dedication, all those type of things. He also mentions, which is a very valuable point and I've said this before on previous videos and podcast here, is he's talked about what I provide, the strategy,]]>337falsefullhttps://www.spreaker.com/episode/383-the-right-trading-conditions-with-a-6-8-gain-for-the-week--40877777
Podcast:

#383: The Right Trading Conditions, with a +6.8% Gain for the Week
In this video:
00:26 – An ex-dairy farmer and pilot
01:06 – When the conditions are right
02:02 – Up +6.8% for the week so far
02:38 – Today’s trading examples
03:50 – Make hay when the sun shines

As a trader, it's really important that you wait for the conditions to be right before you jump into new trades. Let's talk about that and more, right now. Hey, traders, Andrew Mitchem, here, at The Forex Trading Coach with video and podcast number 383.

An ex-dairy farmer and pilot

Now, as an ex-dairy farmer, I know quite a lot about the weather and I know about conditions and I know what to do in certain conditions. Now, as a helicopter pilot, I also know quite a bit about the weather and I know what I should and shouldn't do according to the conditions. And as a trader it's exactly the same. If the conditions are not right, I'm just not really looking for too many trades. I don't go searching for trades. The conditions aren't right.

Sometimes the best thing you can do is not to trade. Now, I know that can be a little bit disappointing for some people and that you feel like you always have to be in trades, but sometimes the best thing to do is to do nothing.

When the conditions are right

But other times, the best thing is to do is to see trades and take them, if the market is showing you those trading opportunities. Now, I'll give you some great examples. This week, so far, and it's now Friday morning here in New Zealand, I'm up 6.8% account gain for the week. Now, during most of August, I found that the trading conditions were not great for most of the time. I didn't trade so much. I actually had a losing month in August. And that happens from time to time. But I didn't trade a lot. And so, the important thing to get out of that is if the conditions are not there, don't take trades, or just don't take too many trades. I had a 0.5% loss in total for August. So, virtually, a breakeven month.

Up +6.8% for the week so far

But already here we are into September and I'm up 6.8% in four days already. Why? Well, because the conditions are there. Conditions are good. We trade when the conditions are good and we take advantage of that. And so, the other thing to look at is maybe days of the week, also. Monday and Tuesdays are generally pretty quiet, most of the time, but then Wednesdays, Thursdays, and sometimes into Fridays, you can get some exceptional trading conditions. And we talked about this on my webinar with clients, last night, of trading when the conditions are there.

Today’s trading examples

To give you another example. Today, Friday, the 11th of September. I didn't take any trades on my membership site, today, based off the daily charts. There were no trades there that I felt were suitable to take. However, we posted on our membership site and our forum site, five trades based off the eight-hour charts, today, and one trade based off the six-hour charts. So, although there were no trading opportunities on the daily timeframe, the bigger timeframe, those big moves, by the way, the parent especially has dropped considerably, some massive moves. But technically, the setups were not there on the daily chart, so we go down to the shorter timeframe chart, because we know the market's active. It's just that the daily charts were not showing us the right setups at the right time.

So, we scaled down to the shorter timeframe charts, and we found those five trades on the eight-hour charts and one on the six-hour charts that we posted for our clients to...]]>https://theforextradingcoach.com/?p=12966Sun, 13 Sep 2020 12:00:07 +0000Andrew MitchemThe Right Trading Conditions, with a +6.8% Gain for the Week  Podcast: #383: The Right Trading Conditions, with a +6.8% Gain for the Week In this video: 00:26 – An ex-dairy farmer and pilot 01:06 – When the conditions are right 02:02 – Up...
Podcast:

#383: The Right Trading Conditions, with a +6.8% Gain for the Week
In this video:
00:26 – An ex-dairy farmer and pilot
01:06 – When the conditions are right
02:02 – Up +6.8% for the week so far
02:38 – Today’s trading examples
03:50 – Make hay when the sun shines

As a trader, it's really important that you wait for the conditions to be right before you jump into new trades. Let's talk about that and more, right now. Hey, traders, Andrew Mitchem, here, at The Forex Trading Coach with video and podcast number 383.

An ex-dairy farmer and pilot

Now, as an ex-dairy farmer, I know quite a lot about the weather and I know about conditions and I know what to do in certain conditions. Now, as a helicopter pilot, I also know quite a bit about the weather and I know what I should and shouldn't do according to the conditions. And as a trader it's exactly the same. If the conditions are not right, I'm just not really looking for too many trades. I don't go searching for trades. The conditions aren't right.

Sometimes the best thing you can do is not to trade. Now, I know that can be a little bit disappointing for some people and that you feel like you always have to be in trades, but sometimes the best thing to do is to do nothing.

When the conditions are right

But other times, the best thing is to do is to see trades and take them, if the market is showing you those trading opportunities. Now, I'll give you some great examples. This week, so far, and it's now Friday morning here in New Zealand, I'm up 6.8% account gain for the week. Now, during most of August, I found that the trading conditions were not great for most of the time. I didn't trade so much. I actually had a losing month in August. And that happens from time to time. But I didn't trade a lot. And so, the important thing to get out of that is if the conditions are not there, don't take trades, or just don't take too many trades. I had a 0.5% loss in total for August. So, virtually, a breakeven month.

Up +6.8% for the week so far

But already here we are into September and I'm up 6.8% in four days already. Why? Well, because the conditions are there. Conditions are good. We trade when the conditions are good and we take advantage of that. And so, the other thing to look at is maybe days of the week, also. Monday and Tuesdays are generally pretty quiet, most of the time, but then Wednesdays, Thursdays, and sometimes into Fridays, you can get some exceptional trading conditions. And we talked about this on my webinar with clients, last night, of trading when the conditions are there.

Today’s trading examples

To give you another example. Today, Friday, the 11th of September. I didn't take any trades on my membership site, today, based off the daily charts. There were no trades there that I felt were suitable to take. However, we posted on our membership site and our forum site, five trades based off the eight-hour charts, today, and one trade based off the six-hour charts. So, although there were no trading opportunities on the daily timeframe, the bigger timeframe, those big moves, by the way, the parent especially has dropped considerably, some massive moves. But technically, the setups were not there on the daily chart, so we go down to the shorter timeframe chart, because we know the market's active. It's just that the daily charts were not showing us the right setups at the right time.

So, we scaled down to the shorter timeframe charts, and we found those five trades on the eight-hour charts and one on the six-hour charts that we posted for our clients to...]]>265falsefullhttps://www.spreaker.com/episode/382-under-30-years-old-and-trading-forex--40727881
Podcast:

#382: Under 30 years old and Trading Forex?
In this video:
00:30 – Trading for the younger generation
00:55 – The benefits for the under 30’s
02:39 – Master the skill of trading
03:50 – Time is your friend
05:02 – You’ll be used to webinars, so take advantage of my webinars
05:42 – The webinars are on-demand

If you're under 30 years old, you are in a prime position and prime stage of your life to take advantage of the Forex market to protect yourself going forward. Let's talk about that and more right now. Hey, Forex traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 382.

Trading for the younger generation

Now last week I made a video about people who are 50 years and older and looking at retiring. And I had a number of comments to say, "Hey, Andrew, what about us younger ones? I'm 20 or I'm 25, et cetera." So what I've done is I made this video and podcast for you. If you're on the lucky end of the scale and let's say you're 25, 30 years and under.

The benefits for the under 30’s

So if you're in that category, that age bracket, you have many advantages, of course, the obvious one being time. But the other obvious ones would be well, you're probably pretty good with computers and phones and iPads. You're probably used to online webinars, Zoom, especially during the coronavirus lockdown. So you understand webinars, you understand online memberships, you understand e-learning all that kind of thing. So you had that in your advantage.

But what I really encourage you to do if you are in that younger age category is when you get into trading, if that's what you want to do... By the way you have to want to do this. Don't just do it because you think it's going to be a way of making some easy cash. Don't do it if that's you. But if you're at the mindset that you like numbers, you like patterns, you're in this for the long haul. If you want to do that and learn a skill to educate yourself, to almost future proof yourself as best as you can, going forward, in terms of finances and time freedom, don't start trading today, thinking that you're going to give up your job and become a full time trader next year. Just don't do that because it's likely not going to happen.

Now, a lot of people that I've taught do go on to become full time traders, but it takes time. And of course you younger guys and girls love everything being instant and it's just the way the technology and things... You're used to that. And look, the trading, the Forex market does have that danger and that image out there of just being instant rewards. This money, money, money, money, money, flash cars, sit on a beach, go on holiday. That type of thing.

Master the skill of trading

The reality is quite different and the reality is, is that you need to learn how to trade. And a lot of people come to me and they say, "Andrew, look, how much do I need in my account to go and make X number of thousand dollars a week?" Well, my answer is, don't worry about that for now. You have to invest in yourself upfront just like you would, if you were going through university or anything like that, any form of education and learn to walk before you can run and you have time as your advantage. So take advantage of the fact that you have time.

And don't worry about trying to make money from day one. Learn the skill properly, start small, start on demo, then get to small live accounts and make money as a percentage gain. Don't look at it and go, "I've got a thousand dollar account. How can I live on that?" Because you will not succeed at trading doing that.]]>https://theforextradingcoach.com/?p=12959Sun, 06 Sep 2020 12:00:29 +0000Andrew MitchemUnder 30 years old and Trading Forex?  Podcast: #382: Under 30 years old and Trading Forex? In this video: 00:30 – Trading for the younger generation 00:55 – The benefits for the under 30’s 02:39 – Master the skill of trading 03:50 – Time is...
Podcast:

#382: Under 30 years old and Trading Forex?
In this video:
00:30 – Trading for the younger generation
00:55 – The benefits for the under 30’s
02:39 – Master the skill of trading
03:50 – Time is your friend
05:02 – You’ll be used to webinars, so take advantage of my webinars
05:42 – The webinars are on-demand

If you're under 30 years old, you are in a prime position and prime stage of your life to take advantage of the Forex market to protect yourself going forward. Let's talk about that and more right now. Hey, Forex traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 382.

Trading for the younger generation

Now last week I made a video about people who are 50 years and older and looking at retiring. And I had a number of comments to say, "Hey, Andrew, what about us younger ones? I'm 20 or I'm 25, et cetera." So what I've done is I made this video and podcast for you. If you're on the lucky end of the scale and let's say you're 25, 30 years and under.

The benefits for the under 30’s

So if you're in that category, that age bracket, you have many advantages, of course, the obvious one being time. But the other obvious ones would be well, you're probably pretty good with computers and phones and iPads. You're probably used to online webinars, Zoom, especially during the coronavirus lockdown. So you understand webinars, you understand online memberships, you understand e-learning all that kind of thing. So you had that in your advantage.

But what I really encourage you to do if you are in that younger age category is when you get into trading, if that's what you want to do... By the way you have to want to do this. Don't just do it because you think it's going to be a way of making some easy cash. Don't do it if that's you. But if you're at the mindset that you like numbers, you like patterns, you're in this for the long haul. If you want to do that and learn a skill to educate yourself, to almost future proof yourself as best as you can, going forward, in terms of finances and time freedom, don't start trading today, thinking that you're going to give up your job and become a full time trader next year. Just don't do that because it's likely not going to happen.

Now, a lot of people that I've taught do go on to become full time traders, but it takes time. And of course you younger guys and girls love everything being instant and it's just the way the technology and things... You're used to that. And look, the trading, the Forex market does have that danger and that image out there of just being instant rewards. This money, money, money, money, money, flash cars, sit on a beach, go on holiday. That type of thing.

Master the skill of trading

The reality is quite different and the reality is, is that you need to learn how to trade. And a lot of people come to me and they say, "Andrew, look, how much do I need in my account to go and make X number of thousand dollars a week?" Well, my answer is, don't worry about that for now. You have to invest in yourself upfront just like you would, if you were going through university or anything like that, any form of education and learn to walk before you can run and you have time as your advantage. So take advantage of the fact that you have time.

And don't worry about trying to make money from day one. Learn the skill properly, start small, start on demo, then get to small live accounts and make money as a percentage gain. Don't look at it and go, "I've got a thousand dollar account. How can I live on that?" Because you will not succeed at trading doing that.]]>382falsefullhttps://www.spreaker.com/episode/381-trading-in-preparation-for-retirement--40577063
Podcast:

#381: Trading in Preparation for Retirement
In this video:
00:27 – Preparing for retirement
01:23 – The traditional way has disappeared
02:07 – Recent examples
03:47 – Results from a client in Germany
04:39 – What can you do today to prepare for retirement?
05:30 – Contact me at andrew@theforextradingcoach.com

Are you looking to trade the Forex Market as a way to help you through retirement? Let's talk about that and more right now.

Hey Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 381.

Preparing for retirement

I want to talk about helping people in retirement. And the reason I want to do that is I was amazed at the recent survey that I held recently with a number of people who replied back who are over 50 years old. And it got me thinking about why people want to trade and want to learn how to trade. Now, obviously, the traditional ways of earning money a number of years ago, you potentially could have funds in a saving account or even a retirement account. And obviously, those type of saving accounts have just crashed. Savings accounts, interest rates through banks, and traditional means are just not what they used to be and you cannot rely on them any longer. And the likelihood going forward, at least for the next five plus years, is the interest rates aren't going to do a lot, regardless of where you live in the world.

The traditional way has disappeared

So, one of the traditional safe ways of having some funds and building up a retirement fund, have now gone. And for a lot of other people who are younger, then obviously property is potentially an option for some people. But as you get 50 and beyond, you either don't want to take on that kind of debt, you may not be able to take on that kind of debt through the bank rules, or you may be at that stage where maybe you're 60 or older and you're thinking, "Well, property and making some money in property in maybe 10 years time isn't what I need today. I need to make something today." And that's where we come back to the Forex Market.

Recent examples

Now, a couple of things I want to talk to you about is that... The first one is last night, I held a live two hour webinar, in fact it went for two and a half hours, with my clients like we hold each week. And on that, I invited a client of mine who's been trading since 2014, called Michelle, who lives over in New South Wales in Australia. And she came on to the webinar and talked for about half an hour and just gave some amazing information, and I didn't know it at the time, but Michelle is a retired nurse. I didn't know her complete background, but she explained why she got into trading, and then she took a break, and then why she got back into it again, and how she's now trading. But what Michelle's doing, which was fascinating, is she is a believer of the philosophy that to become an expert at something, you need to do it at least 10,000 times.

And so, Michelle has some back testing software and she's testing, going through almost like in real time but through back testing my strategy, looking at different candle patterns, plus of course ongoing she's taking trades in real time. She said she was up to about 6,500 trades now of her 10,000 trade plan. But what it's doing, it's allowing her to trade, initially DMO, now live. But when she gets to that 10,000 and she's consistently profitable and making really good money. She said in her own words, that she will be then happy to then trade live account as her income for retirement, and so that is an exceptionally good thing to do.]]>https://theforextradingcoach.com/?p=12952Sun, 30 Aug 2020 12:00:00 +0000Andrew MitchemTrading in Preparation for Retirement  Podcast: #381: Trading in Preparation for Retirement In this video: 00:27 – Preparing for retirement 01:23 – The traditional way has disappeared 02:07 – Recent examples 03:47 – Results from a client in...
Podcast:

#381: Trading in Preparation for Retirement
In this video:
00:27 – Preparing for retirement
01:23 – The traditional way has disappeared
02:07 – Recent examples
03:47 – Results from a client in Germany
04:39 – What can you do today to prepare for retirement?
05:30 – Contact me at andrew@theforextradingcoach.com

Are you looking to trade the Forex Market as a way to help you through retirement? Let's talk about that and more right now.

Hey Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 381.

Preparing for retirement

I want to talk about helping people in retirement. And the reason I want to do that is I was amazed at the recent survey that I held recently with a number of people who replied back who are over 50 years old. And it got me thinking about why people want to trade and want to learn how to trade. Now, obviously, the traditional ways of earning money a number of years ago, you potentially could have funds in a saving account or even a retirement account. And obviously, those type of saving accounts have just crashed. Savings accounts, interest rates through banks, and traditional means are just not what they used to be and you cannot rely on them any longer. And the likelihood going forward, at least for the next five plus years, is the interest rates aren't going to do a lot, regardless of where you live in the world.

The traditional way has disappeared

So, one of the traditional safe ways of having some funds and building up a retirement fund, have now gone. And for a lot of other people who are younger, then obviously property is potentially an option for some people. But as you get 50 and beyond, you either don't want to take on that kind of debt, you may not be able to take on that kind of debt through the bank rules, or you may be at that stage where maybe you're 60 or older and you're thinking, "Well, property and making some money in property in maybe 10 years time isn't what I need today. I need to make something today." And that's where we come back to the Forex Market.

Recent examples

Now, a couple of things I want to talk to you about is that... The first one is last night, I held a live two hour webinar, in fact it went for two and a half hours, with my clients like we hold each week. And on that, I invited a client of mine who's been trading since 2014, called Michelle, who lives over in New South Wales in Australia. And she came on to the webinar and talked for about half an hour and just gave some amazing information, and I didn't know it at the time, but Michelle is a retired nurse. I didn't know her complete background, but she explained why she got into trading, and then she took a break, and then why she got back into it again, and how she's now trading. But what Michelle's doing, which was fascinating, is she is a believer of the philosophy that to become an expert at something, you need to do it at least 10,000 times.

And so, Michelle has some back testing software and she's testing, going through almost like in real time but through back testing my strategy, looking at different candle patterns, plus of course ongoing she's taking trades in real time. She said she was up to about 6,500 trades now of her 10,000 trade plan. But what it's doing, it's allowing her to trade, initially DMO, now live. But when she gets to that 10,000 and she's consistently profitable and making really good money. She said in her own words, that she will be then happy to then trade live account as her income for retirement, and so that is an exceptionally good thing to do.]]>360falsefullhttps://www.spreaker.com/episode/378-the-top-5-issues-facing-forex-traders--40459007
Podcast:

#380: The Top 5 Issues Facing Forex Traders
In this video:
00:26 – Issues that you’ll be facing as a Forex trader
01:22 – The 5 main issues
02:32 – #1 Lacking a working strategy
03:40 – #2 Managing and Avoiding Risk
04:15 – #3 Lack of time to trade
05:00 – #4 Don’t know when or why to enter the market
05:23 – #5 Controlling Emotions
06:25 – Contact me if you’d like a copy of my live webinar recording

Today, I'm going to discuss with you the top five issues facing most Forex traders. It's going to be really interesting. Let's get into it right now.

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 380.

Issues that you’ll be facing as a Forex trader

And I want to talk to you about some issues that you're likely to have as a Forex trader. And the reason I know that is I've held a survey recently from my entire database, had some great replies from people, and I've gone through all of those replies and I've categorised the replies in terms of the five biggest issues that most people seem to say that they have when it comes to trading the Forex market. And so I've categorised those in order to try and help you out.

Now, just to let you know, also as a thank you for those people who send through the survey responses, I've given them access to one of my recent live two hour trading room webinars that I hold exclusively with my clients. If you'd like to get access to that same webinar replay, just send me an email or reply to andrew@theforextradingcoach.com, and I'll send that through to you.

The 5 main issues

So moving on to the five top issues that most people seem to have at that. So the first one is most people cannot seem to settle on a working strategy, seems to be the biggest issue at. Number two, most people seem to have an issue with being able to manage their risk or avoiding risk within their trading, avoiding taking stupid demand to risk. I'm going to cover all these issues in more detail shortly. Number three, most people seem to say that they do not have enough time to trade properly. Number four, they don't know where or what enter the market, and even when they've entered the market, they don't know how to exit the market or where to exit the market. So it's a lack of understanding. Number five, controlling emotions and how this hurts their trades. So there seems to be a lot of people out there with revenge trading or having issues with emotions or taking too big of possessions. So we'll cover all of those issues here.

#1 Lacking a working strategy

And number one, the strategy issue. It's the obvious number one problem that most people will have. So from my point of view, my strategies been working for years. It took me four years of trial and error, probably like you may be having right now to get to that situation of a proven strategy. And so for me, I strip my charts of everything. I got to look at the price. How often do you actually look at what the prices? Are you worried about indicators crossing over each other? So all those types of things have a detrimental effect. You've got to look at the price. You got to actually see where the price is right now.

And so I started to build together an understanding of candles and where they appear on the chart, and then I introduced other things like support and resistance levels, ran numbers, Fibonacci retracements and extensions, and using a completely different way to the standard, by the way, and divergence and putting all that together to get a system that works for me. So strategy, once you understand and have a good, clear strategy,]]>https://theforextradingcoach.com/?p=12928Sun, 23 Aug 2020 12:00:31 +0000Andrew MitchemThe Top 5 Issues Facing Forex Traders  Podcast: #380: The Top 5 Issues Facing Forex Traders In this video: 00:26 – Issues that you’ll be facing as a Forex trader 01:22 – The 5 main issues 02:32 – #1 Lacking a working strategy 03:40 – #2...
Podcast:

#380: The Top 5 Issues Facing Forex Traders
In this video:
00:26 – Issues that you’ll be facing as a Forex trader
01:22 – The 5 main issues
02:32 – #1 Lacking a working strategy
03:40 – #2 Managing and Avoiding Risk
04:15 – #3 Lack of time to trade
05:00 – #4 Don’t know when or why to enter the market
05:23 – #5 Controlling Emotions
06:25 – Contact me if you’d like a copy of my live webinar recording

Today, I'm going to discuss with you the top five issues facing most Forex traders. It's going to be really interesting. Let's get into it right now.

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 380.

Issues that you’ll be facing as a Forex trader

And I want to talk to you about some issues that you're likely to have as a Forex trader. And the reason I know that is I've held a survey recently from my entire database, had some great replies from people, and I've gone through all of those replies and I've categorised the replies in terms of the five biggest issues that most people seem to say that they have when it comes to trading the Forex market. And so I've categorised those in order to try and help you out.

Now, just to let you know, also as a thank you for those people who send through the survey responses, I've given them access to one of my recent live two hour trading room webinars that I hold exclusively with my clients. If you'd like to get access to that same webinar replay, just send me an email or reply to andrew@theforextradingcoach.com, and I'll send that through to you.

The 5 main issues

So moving on to the five top issues that most people seem to have at that. So the first one is most people cannot seem to settle on a working strategy, seems to be the biggest issue at. Number two, most people seem to have an issue with being able to manage their risk or avoiding risk within their trading, avoiding taking stupid demand to risk. I'm going to cover all these issues in more detail shortly. Number three, most people seem to say that they do not have enough time to trade properly. Number four, they don't know where or what enter the market, and even when they've entered the market, they don't know how to exit the market or where to exit the market. So it's a lack of understanding. Number five, controlling emotions and how this hurts their trades. So there seems to be a lot of people out there with revenge trading or having issues with emotions or taking too big of possessions. So we'll cover all of those issues here.

#1 Lacking a working strategy

And number one, the strategy issue. It's the obvious number one problem that most people will have. So from my point of view, my strategies been working for years. It took me four years of trial and error, probably like you may be having right now to get to that situation of a proven strategy. And so for me, I strip my charts of everything. I got to look at the price. How often do you actually look at what the prices? Are you worried about indicators crossing over each other? So all those types of things have a detrimental effect. You've got to look at the price. You got to actually see where the price is right now.

And so I started to build together an understanding of candles and where they appear on the chart, and then I introduced other things like support and resistance levels, ran numbers, Fibonacci retracements and extensions, and using a completely different way to the standard, by the way, and divergence and putting all that together to get a system that works for me. So strategy, once you understand and have a good, clear strategy,]]>458falsefullhttps://www.spreaker.com/episode/379-securing-your-financial-future--40352508
Podcast:

#379: Securing Your Financial Future
In this video:

00:31 – Coronavirus re-emerges again

01:28 – Government job payment ends soon

02:35 – Where does this leave you and your future?

03:43 – It’s time to consider the Forex market

05:22 – Few other businesses are as good as the Forex market

06:05 – Learn how to trade first

07:06 – How to find out more

So the coronavirus continues to cause mayhem around the world. What are you doing to try and secure your financial future? Let's talk about that and more right now.

Hey, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 379.

Coronavirus re-emerges again

Glorious day. So I thought I'd come outside here and talk about actually what is an extremely important subject to almost everybody. Here in New Zealand, we thought we were doing really well with coronavirus. We were paraded around the world as having a hundred days of no coronavirus in the country. Now, all of a sudden, Auckland has gone into lockdown, and the rest of the country has gone up to a higher level. I'm guessing next week, the whole country potentially could be locked down.

So things are not quite as good as everybody thought they were. Of course, around the rest of the world, the same picture is applying with countries getting second waves and more lockdowns. Although that is, I suppose, annoying from a day-to-day living point of view, there's a far bigger problem, of course, going on, and that is money cannot just keep getting printed. Governments around the world cannot just keep propping up jobs that really are now not needed or there's no demand for them.

Government job payment ends soon

Here in New Zealand, on the 1st of September, all the handouts for the jobs that the governments are just keeping people going, that stops on the 1st of September. What happens then? All those jobs. People are artificially propped up right now. Yes, that had to happen, but governments cannot keep printing money.

Here in New Zealand, the official cash rate stayed at 0.25%, and they're talking the next step they can do. Well, pretty much, the only thing they can do is to take it negative. Now, this is New Zealand. This is a country that only a few years ago had one of the highest interest rates in the world. We had this thing going on called the carry trade whereas New Zealand interest rates were very high, Japanese rates were very low, and people were just basically making money on the massive interest rate differential. But of course, here we are in the same position as the rest of the world. They are potentially talking about going negative on the official cash rate. Now, that's just never been even heard of before, and

Where does this leave you and your future?

So where does this leave you as someone either with a job, or someone that's looking to retire soon, or even someone young that's looking at getting into a job? Where does this leave you?

It's not particularly good, and although I hear... Here in New Zealand, certainly, there are lots of people spending money. There's people spending money on lots of cars, and sparkles, and all these type of things, which is fantastic to keep the economy running because people are not spending money on big overseas trips this year because they can't, but that's really good to keep the economy propped up. But none of these things are actually to do with investing. They're all buying shiny objects, and that's the problem I have with our government here.]]>https://theforextradingcoach.com/?p=12917Sun, 16 Aug 2020 12:00:52 +0000Andrew MitchemSecuring Your Financial Future  Podcast: #379: Securing Your Financial Future In this video: 00:31 – Coronavirus re-emerges again 01:28 – Government job payment ends soon 02:35 – Where does this leave you and your future? 03:43 – It’s time...
Podcast:

#379: Securing Your Financial Future
In this video:

00:31 – Coronavirus re-emerges again

01:28 – Government job payment ends soon

02:35 – Where does this leave you and your future?

03:43 – It’s time to consider the Forex market

05:22 – Few other businesses are as good as the Forex market

06:05 – Learn how to trade first

07:06 – How to find out more

So the coronavirus continues to cause mayhem around the world. What are you doing to try and secure your financial future? Let's talk about that and more right now.

Hey, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 379.

Coronavirus re-emerges again

Glorious day. So I thought I'd come outside here and talk about actually what is an extremely important subject to almost everybody. Here in New Zealand, we thought we were doing really well with coronavirus. We were paraded around the world as having a hundred days of no coronavirus in the country. Now, all of a sudden, Auckland has gone into lockdown, and the rest of the country has gone up to a higher level. I'm guessing next week, the whole country potentially could be locked down.

So things are not quite as good as everybody thought they were. Of course, around the rest of the world, the same picture is applying with countries getting second waves and more lockdowns. Although that is, I suppose, annoying from a day-to-day living point of view, there's a far bigger problem, of course, going on, and that is money cannot just keep getting printed. Governments around the world cannot just keep propping up jobs that really are now not needed or there's no demand for them.

Government job payment ends soon

Here in New Zealand, on the 1st of September, all the handouts for the jobs that the governments are just keeping people going, that stops on the 1st of September. What happens then? All those jobs. People are artificially propped up right now. Yes, that had to happen, but governments cannot keep printing money.

Here in New Zealand, the official cash rate stayed at 0.25%, and they're talking the next step they can do. Well, pretty much, the only thing they can do is to take it negative. Now, this is New Zealand. This is a country that only a few years ago had one of the highest interest rates in the world. We had this thing going on called the carry trade whereas New Zealand interest rates were very high, Japanese rates were very low, and people were just basically making money on the massive interest rate differential. But of course, here we are in the same position as the rest of the world. They are potentially talking about going negative on the official cash rate. Now, that's just never been even heard of before, and

Where does this leave you and your future?

So where does this leave you as someone either with a job, or someone that's looking to retire soon, or even someone young that's looking at getting into a job? Where does this leave you?

It's not particularly good, and although I hear... Here in New Zealand, certainly, there are lots of people spending money. There's people spending money on lots of cars, and sparkles, and all these type of things, which is fantastic to keep the economy running because people are not spending money on big overseas trips this year because they can't, but that's really good to keep the economy propped up. But none of these things are actually to do with investing. They're all buying shiny objects, and that's the problem I have with our government here.]]>456falsefullhttps://www.spreaker.com/episode/378-how-useful-is-divergence--40226282
Podcast:

#378: How useful is Divergence?
In this video:
00:25 – Most indicators do not work
00:52 – Trader who joined in 2012 appreciates how good Divergence can be
01:45 – How I use Divergence
02:21 – The 2 types of Divergence
03:05 – My favourite type of Divergence
04:48 – What are we looking for?

Divergence. Is it really a useful tool as a Forex Trader or is it a gimmick? Let's talk about that more right now.

Hi, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 378.

Most indicators do not work

Now I want to talk about a really, really special type of indicator. Now as you probably know, I'm not a fan of almost all indicators. I use horizontal levels, but I'm not a fan of different moving averages and things like that. And all the indicators that the Forex brokers constantly throw at you with most platforms that you can get, there's hundreds and hundreds of different indicators that you can find.

Trader who joined in 2012 appreciates how good Divergence can be

And I want to tell you a story about a client of mine, who back in 2012 joined me. And he's done extremely well from his Forex trading, but he said to me, the other day we had a chat and he said, "Look, Andrew, I just wasn't aware of how good divergence was when you mix it in with all the other things that I'm looking at and I teach as part of my course in my trading strategy."

And he said, "I understood certain things about price action and pivot points and candle patterns, but I just didn't appreciate," and it took him quite a while to appreciate. It was only when he saw lots of examples and put it into practise. He didn't appreciate how good divergence can be if you use it the way that I use it. And if you use it correctly. So with that in mind, when he added that to his trading, his trading just increased another level again.

How I use Divergence

Now I don't use divergence just simply as there's a positive divergent signal, therefore I'm taking a bite. Don't do that at all. I'm using it to back up what I see with my price action trading and my candle stick analysis and my strength and weakness and bouncing off brand numbers and all that type of thing that I look for anyway.

But if I get divergence at the same time or just a little bit before my candle pattern, then that gives me an added boost, an added bonus to say, yes, this is a high quality trade.

The 2 types of Divergence

Now with divergence, what are we looking at? Well, for me, there's two different types of divergence. There's regular divergence, and that's indicating to me a reversal. So we have an uptrend, we get regular negative divergence, and then we're likely to get a downtrend, a reversal. Likewise, we're in a downtrend already, we get regular positive divergence, the trend generally turns around and moves up. Now, as you'd know from previous videos and podcasts, I like reversal traits, but they're slightly higher risk. You know, you are trading against the main direction at the time. So you need to have a very strong pattern, very strong setup in order to justify taking a trend reversal.

My favourite type of Divergence

But my favourite type of divergence is, and there's a lesser known type of divergence, it's called hidden divergence. And that hidden divergence to me is when the price action is at a certain part of the chart. And when I see that happening, it's a trend continuation pattern. And that to me is a highly strong, high probability, high quality trade setup, because it means I'm trading with the trend,]]>https://theforextradingcoach.com/?p=12889Sun, 09 Aug 2020 12:00:19 +0000Andrew MitchemHow useful is Divergence?  Podcast: #378: How useful is Divergence? In this video: 00:25 – Most indicators do not work 00:52 – Trader who joined in 2012 appreciates how good Divergence can be 01:45 – How I use Divergence 02:21 – The 2 types of...
Podcast:

#378: How useful is Divergence?
In this video:
00:25 – Most indicators do not work
00:52 – Trader who joined in 2012 appreciates how good Divergence can be
01:45 – How I use Divergence
02:21 – The 2 types of Divergence
03:05 – My favourite type of Divergence
04:48 – What are we looking for?

Divergence. Is it really a useful tool as a Forex Trader or is it a gimmick? Let's talk about that more right now.

Hi, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 378.

Most indicators do not work

Now I want to talk about a really, really special type of indicator. Now as you probably know, I'm not a fan of almost all indicators. I use horizontal levels, but I'm not a fan of different moving averages and things like that. And all the indicators that the Forex brokers constantly throw at you with most platforms that you can get, there's hundreds and hundreds of different indicators that you can find.

Trader who joined in 2012 appreciates how good Divergence can be

And I want to tell you a story about a client of mine, who back in 2012 joined me. And he's done extremely well from his Forex trading, but he said to me, the other day we had a chat and he said, "Look, Andrew, I just wasn't aware of how good divergence was when you mix it in with all the other things that I'm looking at and I teach as part of my course in my trading strategy."

And he said, "I understood certain things about price action and pivot points and candle patterns, but I just didn't appreciate," and it took him quite a while to appreciate. It was only when he saw lots of examples and put it into practise. He didn't appreciate how good divergence can be if you use it the way that I use it. And if you use it correctly. So with that in mind, when he added that to his trading, his trading just increased another level again.

How I use Divergence

Now I don't use divergence just simply as there's a positive divergent signal, therefore I'm taking a bite. Don't do that at all. I'm using it to back up what I see with my price action trading and my candle stick analysis and my strength and weakness and bouncing off brand numbers and all that type of thing that I look for anyway.

But if I get divergence at the same time or just a little bit before my candle pattern, then that gives me an added boost, an added bonus to say, yes, this is a high quality trade.

The 2 types of Divergence

Now with divergence, what are we looking at? Well, for me, there's two different types of divergence. There's regular divergence, and that's indicating to me a reversal. So we have an uptrend, we get regular negative divergence, and then we're likely to get a downtrend, a reversal. Likewise, we're in a downtrend already, we get regular positive divergence, the trend generally turns around and moves up. Now, as you'd know from previous videos and podcasts, I like reversal traits, but they're slightly higher risk. You know, you are trading against the main direction at the time. So you need to have a very strong pattern, very strong setup in order to justify taking a trend reversal.

My favourite type of Divergence

But my favourite type of divergence is, and there's a lesser known type of divergence, it's called hidden divergence. And that hidden divergence to me is when the price action is at a certain part of the chart. And when I see that happening, it's a trend continuation pattern. And that to me is a highly strong, high probability, high quality trade setup, because it means I'm trading with the trend,]]>363falsefullhttps://www.spreaker.com/episode/377-will-the-us-dollar-fall-over-the-next-12-months--40111021
Podcast:

#377: Will the US Dollar Fall Over the Next 12 Months?
In this video:
00:26 – A great question from someone on my webinar
01:12 – Some examples from the last 17 years
02:09 – The EUR/USD got very high in 2008
03:05 – The GBP/USD went over 2.0000
04:10 – What does this tell you as a trader?

Will the U.S. dollar decline over the next 12 months, and if so, how do you trade it? Let's talk about that and more, right now.

Hi, forex traders. Andrew Mitchem here, at the Forex Trading Coach, with video and podcast number 377.

A great question from someone on my webinar

Now, I held a webinar just this morning and it was a free webinar for the public to attend. I had a great question asked on that webinar, and I'd like to read it for you and then answer the question. The question was, "Hey, Andrew. Look, there's a lot of talk these days about the U.S. dollar, and that it's going to decline over the next 12 months. Which U.S. dollar pairs would you recommend using to take advantage of this potential decline?" Fair enough question, you'd think.

So my answer was, well, you cannot trade that way. You just cannot, because it means that you are now having a predefined ... in your mind, you are set on the U.S. dollar falling, and it's quite a dangerous way to trade because how does anybody know what's going to happen?

Some examples from the last 17 years

Give you some prime examples on this over the last number of years. So I've been trading for nearly 17 years and over that time, to be honest, actually, when I started trading, the U.S. dollar was talked down massively at that time. Everybody was talking up the Euro, talking up the pound, talking down the U.S. dollar, and that's not really happened. Within certain times over those last 17 years, yes, the U.S. dollar's declined, but then it's strengthened.

The problem is, you cannot have that bigger picture idea, and back when I started trading, the monthly non-farm payroll, as it was called back then, the U.S. monthly unemployment data, the U.S. jobs news back then all the time was terrible. Huge numbers of job losses, and people were saying, "It's the end of the U.S. dollar. The Euro's going to take over. The new Euro, all these amalgamated countries. It's the new thing to do. You've got to be on to the Euro."

The EUR/USD got very high in 2008

So, give you some examples. Back then, the Euro got as high as 1.60. It got very, very high, the Euro against U.S. dollar, 1.60. Then, from mid-2008 onwards, if you look at a monthly chart, overall, all it's done is fallen. Like I mentioned just now, yes, there have been times where the Euro-U.S. dollar has gone up, and therefore the Euro is strengthened, the U.S. is weakened. But if you take the bigger picture since mid-2008, when the Euro-U.S. dollar hit just on 1.60, all it's done since then is fallen. So that tells you that actually, what's happening is the Euro is weakening and the U.S. dollar is strengthening. So if I had that bigger picture view back then of the U.S. dollar as weakening and declining, for the last 12 years, in general, I would have been wrong. So very, very dangerous thought process to go into there.

The GBP/USD went over 2.0000

Another example, the pound-U.S. dollar. Back in 2007, it went over two. So the rate of the pound-U.S. dollar was over two, 2.000. It went over that level and then it crashed to 1.14. So all it's done is the pound's dropped, the U.S. has strengthened. Again, everybody said the U.S. dollar would weaken, and all it's actually done, again, bigger picture, and there's been fluctuations, yes,]]>https://theforextradingcoach.com/?p=12861Sun, 02 Aug 2020 12:00:25 +0000Andrew MitchemWill the US Dollar Fall Over the Next 12 Months?  Podcast: #377: Will the US Dollar Fall Over the Next 12 Months? In this video: 00:26 – A great question from someone on my webinar 01:12 – Some examples from the last 17 years 02:09 – The EUR/USD...
Podcast:

#377: Will the US Dollar Fall Over the Next 12 Months?
In this video:
00:26 – A great question from someone on my webinar
01:12 – Some examples from the last 17 years
02:09 – The EUR/USD got very high in 2008
03:05 – The GBP/USD went over 2.0000
04:10 – What does this tell you as a trader?

Will the U.S. dollar decline over the next 12 months, and if so, how do you trade it? Let's talk about that and more, right now.

Hi, forex traders. Andrew Mitchem here, at the Forex Trading Coach, with video and podcast number 377.

A great question from someone on my webinar

Now, I held a webinar just this morning and it was a free webinar for the public to attend. I had a great question asked on that webinar, and I'd like to read it for you and then answer the question. The question was, "Hey, Andrew. Look, there's a lot of talk these days about the U.S. dollar, and that it's going to decline over the next 12 months. Which U.S. dollar pairs would you recommend using to take advantage of this potential decline?" Fair enough question, you'd think.

So my answer was, well, you cannot trade that way. You just cannot, because it means that you are now having a predefined ... in your mind, you are set on the U.S. dollar falling, and it's quite a dangerous way to trade because how does anybody know what's going to happen?

Some examples from the last 17 years

Give you some prime examples on this over the last number of years. So I've been trading for nearly 17 years and over that time, to be honest, actually, when I started trading, the U.S. dollar was talked down massively at that time. Everybody was talking up the Euro, talking up the pound, talking down the U.S. dollar, and that's not really happened. Within certain times over those last 17 years, yes, the U.S. dollar's declined, but then it's strengthened.

The problem is, you cannot have that bigger picture idea, and back when I started trading, the monthly non-farm payroll, as it was called back then, the U.S. monthly unemployment data, the U.S. jobs news back then all the time was terrible. Huge numbers of job losses, and people were saying, "It's the end of the U.S. dollar. The Euro's going to take over. The new Euro, all these amalgamated countries. It's the new thing to do. You've got to be on to the Euro."

The EUR/USD got very high in 2008

So, give you some examples. Back then, the Euro got as high as 1.60. It got very, very high, the Euro against U.S. dollar, 1.60. Then, from mid-2008 onwards, if you look at a monthly chart, overall, all it's done is fallen. Like I mentioned just now, yes, there have been times where the Euro-U.S. dollar has gone up, and therefore the Euro is strengthened, the U.S. is weakened. But if you take the bigger picture since mid-2008, when the Euro-U.S. dollar hit just on 1.60, all it's done since then is fallen. So that tells you that actually, what's happening is the Euro is weakening and the U.S. dollar is strengthening. So if I had that bigger picture view back then of the U.S. dollar as weakening and declining, for the last 12 years, in general, I would have been wrong. So very, very dangerous thought process to go into there.

The GBP/USD went over 2.0000

Another example, the pound-U.S. dollar. Back in 2007, it went over two. So the rate of the pound-U.S. dollar was over two, 2.000. It went over that level and then it crashed to 1.14. So all it's done is the pound's dropped, the U.S. has strengthened. Again, everybody said the U.S. dollar would weaken, and all it's actually done, again, bigger picture, and there's been fluctuations, yes,]]>373falsefullhttps://www.spreaker.com/episode/376-where-to-invest-today--39986922
Podcast:

#376: Where to Invest Today?
In this video:
00:24 – My latest bank statement
01:07 – What are your options?
02:06 – Continuing to do what we’ve always done
02:21 – Client from Germany making 2.5% to 4% per week
03:45 – The takeaways from Sedat’s comments
04:45 – Bettering yourself as a Forex trader

Bank interest rates continue to fall. So what do you do when it comes to investing? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 376.

My latest bank statement

Now, I've received a letter here from Lloyds bank over in the UK. I had a account when I was a kid with Lloyds. Still continue to have one there for when we go to Europe for holidays, not sure when that's going to be happening next either right now with coronavirus.

But anyway, what I wanted to talk about was on here, it says my interest rate will be changing to 0.01 gross interest paid quarterly. How exciting is that? A 0.01% interest, it's incredible. It costs them more to send me the letter to New Zealand than they're going to pay me in interest.

What are your options?

It comes back to what are you going to do about that? Because interest rates throughout the entire world are obviously falling, and it sounds great if you want to borrow, but of course, getting money and borrowing is actually getting harder as well.

You just think about commercial property, why would you want to jump into commercial property right now when office blocks throughout the whole world are empty because more and more people have actually worked out that they can work from home? Exactly like I'm doing right now behind you here. But people don't need to be travelling to work like they used to. Sure, it will come back a little bit, but the actual having to be at the office, having to be at work, businesses are figuring out that it's actually cheaper, of course, not to be renting, leasing or owning so much space.

So therefore, as the investor, why would I want to go out there rushing to buy office space or anything like that when the actual occupancy rates are probably going to be a lot, lot lower.

Continuing to do what we’ve always done

So it comes back to, for me as a trader, I'm just continuing to do what we've always done. Why? Well, because it works. Why? Well, because what other options do we have out there that can actually beat what Forex can offer?

Client from Germany making 2.5% to 4% per week

Now, I also wanted to talk to you about an email that I've got here from a client in Germany called Sedat. And he says, "Andrew, it's been exactly one year, one month and eight days since I started trading according to the Forex Trading Coach system with you. Since then, I've only had positive months and only three or four negative weeks." He says, "I'm not yet a full time trader, but I'm on my way to becoming one."

He also said, now this is interesting, "Few people realise that you can learn this business." Sorry. "Few realise that you have to learn this business for many years before you can really succeed. No one can become a doctor in two months, but many people believe that you can become a trader in only a few months." And he goes on to say, "I myself, make 2.5% to 4% profit per week and only trade the one hour charts. I trade with great passion and dedication. If I can't trade for day, I'll almost get psychological withdrawal symptoms with a smiley face. I think without absolute passion, no one can become a successful trader."

So that's from Sedat over in Germany.]]>https://theforextradingcoach.com/?p=12853Sun, 26 Jul 2020 12:00:45 +0000Andrew MitchemWhere to Invest Today?  Podcast: #376: Where to Invest Today? In this video: 00:24 – My latest bank statement 01:07 – What are your options? 02:06 – Continuing to do what we’ve always done 02:21 – Client from Germany making 2.5% to 4% per week...
Podcast:

#376: Where to Invest Today?
In this video:
00:24 – My latest bank statement
01:07 – What are your options?
02:06 – Continuing to do what we’ve always done
02:21 – Client from Germany making 2.5% to 4% per week
03:45 – The takeaways from Sedat’s comments
04:45 – Bettering yourself as a Forex trader

Bank interest rates continue to fall. So what do you do when it comes to investing? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 376.

My latest bank statement

Now, I've received a letter here from Lloyds bank over in the UK. I had a account when I was a kid with Lloyds. Still continue to have one there for when we go to Europe for holidays, not sure when that's going to be happening next either right now with coronavirus.

But anyway, what I wanted to talk about was on here, it says my interest rate will be changing to 0.01 gross interest paid quarterly. How exciting is that? A 0.01% interest, it's incredible. It costs them more to send me the letter to New Zealand than they're going to pay me in interest.

What are your options?

It comes back to what are you going to do about that? Because interest rates throughout the entire world are obviously falling, and it sounds great if you want to borrow, but of course, getting money and borrowing is actually getting harder as well.

You just think about commercial property, why would you want to jump into commercial property right now when office blocks throughout the whole world are empty because more and more people have actually worked out that they can work from home? Exactly like I'm doing right now behind you here. But people don't need to be travelling to work like they used to. Sure, it will come back a little bit, but the actual having to be at the office, having to be at work, businesses are figuring out that it's actually cheaper, of course, not to be renting, leasing or owning so much space.

So therefore, as the investor, why would I want to go out there rushing to buy office space or anything like that when the actual occupancy rates are probably going to be a lot, lot lower.

Continuing to do what we’ve always done

So it comes back to, for me as a trader, I'm just continuing to do what we've always done. Why? Well, because it works. Why? Well, because what other options do we have out there that can actually beat what Forex can offer?

Client from Germany making 2.5% to 4% per week

Now, I also wanted to talk to you about an email that I've got here from a client in Germany called Sedat. And he says, "Andrew, it's been exactly one year, one month and eight days since I started trading according to the Forex Trading Coach system with you. Since then, I've only had positive months and only three or four negative weeks." He says, "I'm not yet a full time trader, but I'm on my way to becoming one."

He also said, now this is interesting, "Few people realise that you can learn this business." Sorry. "Few realise that you have to learn this business for many years before you can really succeed. No one can become a doctor in two months, but many people believe that you can become a trader in only a few months." And he goes on to say, "I myself, make 2.5% to 4% profit per week and only trade the one hour charts. I trade with great passion and dedication. If I can't trade for day, I'll almost get psychological withdrawal symptoms with a smiley face. I think without absolute passion, no one can become a successful trader."

So that's from Sedat over in Germany.]]>318falsefullhttps://www.spreaker.com/episode/375-the-power-of-a-good-trading-community--39845735
Podcast:

#375: The Power of a Good Trading Community
In this video:
00:27 – Amazing trading results and the power of a good trading community
01:27 – Trading can be a lonely business
02:13 – You get to associate with like-minded people
03:34 – Trades posted daily to help follow, learn and earn
04:41 – The power of our Forum site and how it helps our traders
05:27 – Being part of our community, trading family and support

I want to talk to you about the power of a fantastic trading community and how it can massively help you as a Forex trader. So let's get into that and more right now.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 375.

Amazing trading results and the power of a good trading community

Now we have had some incredibly good results this week. And I'll talk about that more shortly, but I want to talk about the power of a good trading community and how important that can be to your trading success. You see, from time to time, I get people saying to me, "Hey Andrew, I can learn everything that you teach in your trading strategy on YouTube, or I can learn it from a book or anything like that." And it's like, well, good luck to you, off you go then, because you cannot. The simple fact is you cannot do that.

You have to be, if you want to be a good trader, the thing that's going to help you along the line, because of course you can have strategy and software and everything that we provide. And it's really, really, really good, amazingly good. We've been doing this for 11 years now as coaches, but what makes it even better is the community that we have. And I think that's the bit that's highly underestimated by a lot of people.

Trading can be a lonely business

You see trading's a lonely business. You're generally sitting at home on your laptop, on your desktop, most other people don't know what it is you're doing. You're generally sitting there doing something with not a lot of support, not a lot of help. Like the traditional online forums are just terrible, they just are. I've never, ever found a good one. They all start off with great intentions, but they're just awful.

But what we've built up over the 11 years from thousands of coaching clients from currently 88 countries all around the world, it's something very, very special and it's not to be underestimated the importance and the power of that family, of that community, of that spirit, that like-minded group of people all with that common goal of helping each other and to becoming a better trader.

You get to associate with like-minded people

Now from a personal point of view, when I go to business events, which I do from time to time, not that often, but from time to time I go to them. The reason I go to them is not only to learn something, but more importantly, it's the people that I meet there. And it's the unexpected bump into someone, start talking, you know somebody who knows someone else or they may be in a completely different business to you and you start talking to them and you find some sort of common goal correlation together.

And to me, it's surrounding myself with really good, decent people who are like minded people. And that's what I get out of those events, the energy that you get from that, just decent people. We all know there's a lot of, without putting it bluntly, people out there that just don't have the entrepreneur spirit, they just don't have the will to want to better themselves. All those types of things. We know that society has that unfortunately, and it always has always will do.]]>https://theforextradingcoach.com/?p=12820Sun, 19 Jul 2020 12:00:40 +0000Andrew MitchemThe Power of a Good Trading Community  Podcast: #375: The Power of a Good Trading Community In this video: 00:27 – Amazing trading results and the power of a good trading community 01:27 – Trading can be a lonely business 02:13 – You get to...
Podcast:

#375: The Power of a Good Trading Community
In this video:
00:27 – Amazing trading results and the power of a good trading community
01:27 – Trading can be a lonely business
02:13 – You get to associate with like-minded people
03:34 – Trades posted daily to help follow, learn and earn
04:41 – The power of our Forum site and how it helps our traders
05:27 – Being part of our community, trading family and support

I want to talk to you about the power of a fantastic trading community and how it can massively help you as a Forex trader. So let's get into that and more right now.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 375.

Amazing trading results and the power of a good trading community

Now we have had some incredibly good results this week. And I'll talk about that more shortly, but I want to talk about the power of a good trading community and how important that can be to your trading success. You see, from time to time, I get people saying to me, "Hey Andrew, I can learn everything that you teach in your trading strategy on YouTube, or I can learn it from a book or anything like that." And it's like, well, good luck to you, off you go then, because you cannot. The simple fact is you cannot do that.

You have to be, if you want to be a good trader, the thing that's going to help you along the line, because of course you can have strategy and software and everything that we provide. And it's really, really, really good, amazingly good. We've been doing this for 11 years now as coaches, but what makes it even better is the community that we have. And I think that's the bit that's highly underestimated by a lot of people.

Trading can be a lonely business

You see trading's a lonely business. You're generally sitting at home on your laptop, on your desktop, most other people don't know what it is you're doing. You're generally sitting there doing something with not a lot of support, not a lot of help. Like the traditional online forums are just terrible, they just are. I've never, ever found a good one. They all start off with great intentions, but they're just awful.

But what we've built up over the 11 years from thousands of coaching clients from currently 88 countries all around the world, it's something very, very special and it's not to be underestimated the importance and the power of that family, of that community, of that spirit, that like-minded group of people all with that common goal of helping each other and to becoming a better trader.

You get to associate with like-minded people

Now from a personal point of view, when I go to business events, which I do from time to time, not that often, but from time to time I go to them. The reason I go to them is not only to learn something, but more importantly, it's the people that I meet there. And it's the unexpected bump into someone, start talking, you know somebody who knows someone else or they may be in a completely different business to you and you start talking to them and you find some sort of common goal correlation together.

And to me, it's surrounding myself with really good, decent people who are like minded people. And that's what I get out of those events, the energy that you get from that, just decent people. We all know there's a lot of, without putting it bluntly, people out there that just don't have the entrepreneur spirit, they just don't have the will to want to better themselves. All those types of things. We know that society has that unfortunately, and it always has always will do.]]>384falsefullhttps://www.spreaker.com/episode/374-how-to-calculate-your-lot-size-correctly-easily--39110369
Podcast:

#374: How to Calculate Your Lot Size Correctly & Easily
In this video:
00:26 – Understanding Lot Sizes
00:58 – The problem with the way most people trade
01:57 – Different pairs pay a different amount per pips
02:50 – Place the stop loss at the correct level
03:29 – Use my Lot Size Calculator
04:48 – Allows you to be smart with your trading
05:21 – Weekly chart trades made good money this week
06:11 – Controlling risk and your emotions

How do you calculate the lot size that you need on every trade so that you can control your risk and your emotions? Let's talk about that and more, right now.

Hey Forex Traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 374.

Understanding Lot Sizes

I thought I'd come outside today as it's a lovely winter's day here in Nelson. Lots of good feedback on last week's video, when I took you on a helicopter trip. So glad that you enjoyed that and I figured, well it's so good, let's get outside again today and explain the very important topic regarding what makes the difference between potentially a losing Forex trader and a successful Forex trader. It comes down to money management and risk and understanding how to calculate the lot size that you need.

The problem with the way most people trade

You see, the problem is that most people when they trade is they will put on 0.1 lots or 1.0 lots, something like that. I did exactly the same 16 plus years ago when I started trading. Because that's what you think you should do. When you see people showing trades online they'll put something like, you get paid $10.00 per pip and if you make 100 pips that equals $1,000.00. The problem is that's not quite right. It's quite a bad way of trading. Let me explain why. In order to trade with low risk and controlled risk, what you need to do is actually calculate the lot size that you need on every trade that's specific to that trade. You can't just go and say, well I'm going to put on 0.1 lots on every trade. It's not a good way of trading because you're going to find that you have different risk on each trade.

Different pairs pay a different amount per pips

Different currency pairs pay a different amount per pip depending on what currency pair you're trading. But not only that, it also depends on what the account your trading is based in. For example, it may be in US dollars, it might be in New Zealand dollars, it may be in British pounds. So you can't just say that every trade is $10.00 per pip or $1.00 a pip, because that's assuming that you're trading something like Euro/US dollar or the Pound/US dollar, and your account is in US dollars. If it's not in US dollars, then the $10.00 a pip logic doesn't even make sense anyway, it's inaccurate. So that becomes the issue. Now it's so easy to look online and people showing you trades that they make, like I said 100 pips equals $1,000.00. No, it's not true. So you have to be quite careful there.

Place the stop loss at the correct level

What you need to do is actually place the stop-loss on the trade at the level it needs to be at. Don't just go and say I'm going to put a 20 pip stop-loss in, because 20 pips doesn't mean anything. You have to put that level at the price level where it needs to be for that specific trade. Then what you do is you then work out the dollars per pip or the pounds per pip of the currency that you're trading and according to your account denomination. Then you work the lot size needed for that trade. So that all starts to sound a bit complicated, doesn't it?]]>https://theforextradingcoach.com/?p=12777Sun, 12 Jul 2020 12:59:12 +0000Andrew MitchemI’ll Take You on a Helicopter Trip  Podcast: #374: How to Calculate Your Lot Size Correctly & Easily In this video: 00:26 – Understanding Lot Sizes 00:58 – The problem with the way most people trade 01:57 – Different pairs pay a different...
Podcast:

#374: How to Calculate Your Lot Size Correctly & Easily
In this video:
00:26 – Understanding Lot Sizes
00:58 – The problem with the way most people trade
01:57 – Different pairs pay a different amount per pips
02:50 – Place the stop loss at the correct level
03:29 – Use my Lot Size Calculator
04:48 – Allows you to be smart with your trading
05:21 – Weekly chart trades made good money this week
06:11 – Controlling risk and your emotions

How do you calculate the lot size that you need on every trade so that you can control your risk and your emotions? Let's talk about that and more, right now.

Hey Forex Traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 374.

Understanding Lot Sizes

I thought I'd come outside today as it's a lovely winter's day here in Nelson. Lots of good feedback on last week's video, when I took you on a helicopter trip. So glad that you enjoyed that and I figured, well it's so good, let's get outside again today and explain the very important topic regarding what makes the difference between potentially a losing Forex trader and a successful Forex trader. It comes down to money management and risk and understanding how to calculate the lot size that you need.

The problem with the way most people trade

You see, the problem is that most people when they trade is they will put on 0.1 lots or 1.0 lots, something like that. I did exactly the same 16 plus years ago when I started trading. Because that's what you think you should do. When you see people showing trades online they'll put something like, you get paid $10.00 per pip and if you make 100 pips that equals $1,000.00. The problem is that's not quite right. It's quite a bad way of trading. Let me explain why. In order to trade with low risk and controlled risk, what you need to do is actually calculate the lot size that you need on every trade that's specific to that trade. You can't just go and say, well I'm going to put on 0.1 lots on every trade. It's not a good way of trading because you're going to find that you have different risk on each trade.

Different pairs pay a different amount per pips

Different currency pairs pay a different amount per pip depending on what currency pair you're trading. But not only that, it also depends on what the account your trading is based in. For example, it may be in US dollars, it might be in New Zealand dollars, it may be in British pounds. So you can't just say that every trade is $10.00 per pip or $1.00 a pip, because that's assuming that you're trading something like Euro/US dollar or the Pound/US dollar, and your account is in US dollars. If it's not in US dollars, then the $10.00 a pip logic doesn't even make sense anyway, it's inaccurate. So that becomes the issue. Now it's so easy to look online and people showing you trades that they make, like I said 100 pips equals $1,000.00. No, it's not true. So you have to be quite careful there.

Place the stop loss at the correct level

What you need to do is actually place the stop-loss on the trade at the level it needs to be at. Don't just go and say I'm going to put a 20 pip stop-loss in, because 20 pips doesn't mean anything. You have to put that level at the price level where it needs to be for that specific trade. Then what you do is you then work out the dollars per pip or the pounds per pip of the currency that you're trading and according to your account denomination. Then you work the lot size needed for that trade. So that all starts to sound a bit complicated, doesn't it?]]>447falsefullhttps://www.spreaker.com/episode/373-i-ll-take-you-on-a-helicopter-trip--36118472
Podcast:

#373: I’ll Take You on a Helicopter Trip
In this video:
00:29 – Let’s go flying but first we need to prepare
02:22 – Pre-flight completed and trading completed
03:36 – Experience some of the amazing scenery
04:03 – Back on the ground
04:25 – Update on TFTC Pattern Trader June performance
05:31 – Manual trading and the TFTC Course
06:13 – Education and discipline are key to success

I'm going to take you on a helicopter trip today and share with you some of the benefits of being able to trade correctly with low risk and without spending all day looking at the charts. Let's get into this and more, right now.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 373.

Let’s go flying but first we need to prepare

And that's right, something different day. I'm going to take you on a ride here in my helicopter. I'm at the hangar. Pretty cold day, as you can see here, middle of winter here in New Zealand. And I'm going to go for a fly, but also I want to explain to you about why it is that we trade, and the benefits and the lifestyle that come with it. Now I'm, as I've said, at the hanger. So I just want to show you in here. I've just posted my daily trades from the laptop here. Trades have all been posted, and we're now off for a fly. But one of the important things to note when you trade well and when you fly well, you've got to do a lot of preparation and a lot of planning.

Now, inside the helicopter here, if I open up this door, you'll see in here there is a huge amount of dials, instruments, et cetera. And the planning that goes into being able to fly is huge. Exactly like trading. So I'm now going to open up all these doors here and do a full pre-flight of the machine. I've got my flight plan ready. I've got everything prepared in advance for the flight. So I'm going to do the pre-flight and explain to you how that corresponds with trading really, because I've done my daily trades in there, which took me probably 15 minutes today. And it's a public in the US coming up, and non-farm payrolls was a day early this month. And so the market's pretty quiet. But the thing is, if you do your planning correctly, then you get the benefits from your trading and trading quickly. If you do your planning correctly with flying, we're going to have an awesome day today. So I'll finish the pre-flight, open the doors up here, take the helicopter outside, and I'll see you shortly.

Pre-flight completed and trading completed

Okay. So back outside now, done the pre-flight. Everything's checked in the machine. And as you can see it's a stunning day here. And so we'll be leaving shortly. So how does this relate to trading? Well, one, with trading gives you freedom and flexibility. I've been in there in the hangar and taking my trades today. I know when to take them. I know when I need to be at the charts. I've looked through the daily charts, the 12 hour, the eight hour, the six hour, and the four hour charts, taking my trades. Placed them on the computer, I've got my stop loss in place, I know my risk. And that's it for probably six hours, maybe even 12 hours. So the great thing with that is you can go and do things in the day. If you've got a normal nine to five job, you can still trade properly. If you've got other commitments, travel commitments, family commitments, you can still trade properly.

So we'll be off very, very shortly. And I'll hopefully get the guy that's coming with me just to film a few seconds so you can see us up in the air crossing a few quite high mountain ranges on the way today, so looking forward to that.]]>https://theforextradingcoach.com/?p=12763Sun, 05 Jul 2020 12:00:11 +0000Andrew MitchemI’ll Take You on a Helicopter Trip  Podcast: #373: I’ll Take You on a Helicopter Trip In this video: 00:29 – Let’s go flying but first we need to prepare 02:22 – Pre-flight completed and trading completed 03:36 – Experience some of the...
Podcast:

#373: I’ll Take You on a Helicopter Trip
In this video:
00:29 – Let’s go flying but first we need to prepare
02:22 – Pre-flight completed and trading completed
03:36 – Experience some of the amazing scenery
04:03 – Back on the ground
04:25 – Update on TFTC Pattern Trader June performance
05:31 – Manual trading and the TFTC Course
06:13 – Education and discipline are key to success

I'm going to take you on a helicopter trip today and share with you some of the benefits of being able to trade correctly with low risk and without spending all day looking at the charts. Let's get into this and more, right now.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 373.

Let’s go flying but first we need to prepare

And that's right, something different day. I'm going to take you on a ride here in my helicopter. I'm at the hangar. Pretty cold day, as you can see here, middle of winter here in New Zealand. And I'm going to go for a fly, but also I want to explain to you about why it is that we trade, and the benefits and the lifestyle that come with it. Now I'm, as I've said, at the hanger. So I just want to show you in here. I've just posted my daily trades from the laptop here. Trades have all been posted, and we're now off for a fly. But one of the important things to note when you trade well and when you fly well, you've got to do a lot of preparation and a lot of planning.

Now, inside the helicopter here, if I open up this door, you'll see in here there is a huge amount of dials, instruments, et cetera. And the planning that goes into being able to fly is huge. Exactly like trading. So I'm now going to open up all these doors here and do a full pre-flight of the machine. I've got my flight plan ready. I've got everything prepared in advance for the flight. So I'm going to do the pre-flight and explain to you how that corresponds with trading really, because I've done my daily trades in there, which took me probably 15 minutes today. And it's a public in the US coming up, and non-farm payrolls was a day early this month. And so the market's pretty quiet. But the thing is, if you do your planning correctly, then you get the benefits from your trading and trading quickly. If you do your planning correctly with flying, we're going to have an awesome day today. So I'll finish the pre-flight, open the doors up here, take the helicopter outside, and I'll see you shortly.

Pre-flight completed and trading completed

Okay. So back outside now, done the pre-flight. Everything's checked in the machine. And as you can see it's a stunning day here. And so we'll be leaving shortly. So how does this relate to trading? Well, one, with trading gives you freedom and flexibility. I've been in there in the hangar and taking my trades today. I know when to take them. I know when I need to be at the charts. I've looked through the daily charts, the 12 hour, the eight hour, the six hour, and the four hour charts, taking my trades. Placed them on the computer, I've got my stop loss in place, I know my risk. And that's it for probably six hours, maybe even 12 hours. So the great thing with that is you can go and do things in the day. If you've got a normal nine to five job, you can still trade properly. If you've got other commitments, travel commitments, family commitments, you can still trade properly.

So we'll be off very, very shortly. And I'll hopefully get the guy that's coming with me just to film a few seconds so you can see us up in the air crossing a few quite high mountain ranges on the way today, so looking forward to that.]]>407falsefullhttps://www.spreaker.com/episode/372-only-trade-on-the-close-of-a-candle--34124867
Podcast:

#372: Only Trade on the Close of a Candle
In this video:
00:25 – Knowing when to trade
01:01 – Simplify your trading
01:50 – Trade at the close of a candle
03:07 – Trading the right time frame charts
04:16 – Another +1.2% gain on Autopilot for TFTC Pattern Trader
04:56 – The price for TFTC Pattern Trader will be increasing soon
05:50 – Go to TFTCPatternTrader.com for more details

I'm going to explain why I only look for a new trade upon the close of a candle.

Let's talk about that and more right now. Hey, Traders, Andrew here at the Forex Trading Coach and welcome to video and podcast number 372.

Knowing when to trade

So I want to talk about understanding when you should look for trades, and at the end, I'll also give you an update on our hundred percent automated Pattern Trader Software, which has had another positive result again this week.

So, when to look for trades. It's really important because a lot of people get very, very confused. I had an email yesterday from somebody who said, "Hey, Andrew, do you ever look at a trade midway through a candle?" Very easy answer. The answer is absolutely not. Why would you? Because things are not set, things are changing all the time.

Simplify your trading

So in order to simplify your trading, not only in terms of your mindset, knowing exactly what to do, lower stress, having a lot more control in your trading, it also helps you to get away from your charts. Because if you know exactly when to look for trades, that can really help you with your longevity as a trader.

And the mistake that many traders make when they get into trading, and look, I did exactly the same myself when I started trading, is that people think that they have to sit there all day, watching every PIP move up and down. They're glued to their charts. And although it's quite exciting to start with when you start trading, realistically, you're not going to continue trading and have that love and that passion and enjoyment for your trading if you just are completely glued to your computer.

Trade at the close of a candle

So, end of the chart, or end of a candle, means a lot of things. It means that you have all your, if your trading indicators, have all your levels set, nothing's moving. Nothing's moving up and down and changing. It also means that if you're analysing strength and weaknesses that you can look at different pairs at exactly the same time.

So it means, for example, you can trade and look at, say, there's a bullish movement on the Euro/US Dollar. Is that because the Euro is strong or is it because the US Dollar is weak? And so therefore you can go to like the Euro/Yen, Euro/Aussie, Euro/Kiwi, Euro/Frank, and look through those to actually get a good analysis overall of what's really is strong and what's weak. So it helps you with that. It helps you massively with stress levels because, quite frankly, it takes all that away because you're not desperate to get into a trade and making mistakes with lot sizes and stop losses. Especially if you trade the way that we trade, where we use limit orders. So you're not even jumping in at the market straight away at that time anyway. It really allows you to focus properly and take good high quality trading decisions with accurate position sizes without having that stress like a lot of new traders do, for instance.

Trading the right time frame charts

Has also the benefit of allowing you to take advantage of the different characteristics, different movements within the market.

So what I mean by that is this.]]>https://theforextradingcoach.com/?p=12755Sun, 28 Jun 2020 12:00:37 +0000Andrew MitchemOnly Trade on the Close of a Candle  Podcast: #372: Only Trade on the Close of a Candle In this video: 00:25 – Knowing when to trade 01:01 – Simplify your trading 01:50 – Trade at the close of a candle 03:07 – Trading the right time frame...
Podcast:

#372: Only Trade on the Close of a Candle
In this video:
00:25 – Knowing when to trade
01:01 – Simplify your trading
01:50 – Trade at the close of a candle
03:07 – Trading the right time frame charts
04:16 – Another +1.2% gain on Autopilot for TFTC Pattern Trader
04:56 – The price for TFTC Pattern Trader will be increasing soon
05:50 – Go to TFTCPatternTrader.com for more details

I'm going to explain why I only look for a new trade upon the close of a candle.

Let's talk about that and more right now. Hey, Traders, Andrew here at the Forex Trading Coach and welcome to video and podcast number 372.

Knowing when to trade

So I want to talk about understanding when you should look for trades, and at the end, I'll also give you an update on our hundred percent automated Pattern Trader Software, which has had another positive result again this week.

So, when to look for trades. It's really important because a lot of people get very, very confused. I had an email yesterday from somebody who said, "Hey, Andrew, do you ever look at a trade midway through a candle?" Very easy answer. The answer is absolutely not. Why would you? Because things are not set, things are changing all the time.

Simplify your trading

So in order to simplify your trading, not only in terms of your mindset, knowing exactly what to do, lower stress, having a lot more control in your trading, it also helps you to get away from your charts. Because if you know exactly when to look for trades, that can really help you with your longevity as a trader.

And the mistake that many traders make when they get into trading, and look, I did exactly the same myself when I started trading, is that people think that they have to sit there all day, watching every PIP move up and down. They're glued to their charts. And although it's quite exciting to start with when you start trading, realistically, you're not going to continue trading and have that love and that passion and enjoyment for your trading if you just are completely glued to your computer.

Trade at the close of a candle

So, end of the chart, or end of a candle, means a lot of things. It means that you have all your, if your trading indicators, have all your levels set, nothing's moving. Nothing's moving up and down and changing. It also means that if you're analysing strength and weaknesses that you can look at different pairs at exactly the same time.

So it means, for example, you can trade and look at, say, there's a bullish movement on the Euro/US Dollar. Is that because the Euro is strong or is it because the US Dollar is weak? And so therefore you can go to like the Euro/Yen, Euro/Aussie, Euro/Kiwi, Euro/Frank, and look through those to actually get a good analysis overall of what's really is strong and what's weak. So it helps you with that. It helps you massively with stress levels because, quite frankly, it takes all that away because you're not desperate to get into a trade and making mistakes with lot sizes and stop losses. Especially if you trade the way that we trade, where we use limit orders. So you're not even jumping in at the market straight away at that time anyway. It really allows you to focus properly and take good high quality trading decisions with accurate position sizes without having that stress like a lot of new traders do, for instance.

Trading the right time frame charts

Has also the benefit of allowing you to take advantage of the different characteristics, different movements within the market.

So what I mean by that is this.]]>392falsefullhttps://www.spreaker.com/episode/371-should-you-trade-correlated-forex-pairs--32251835
Podcast:

#371: Should You Trade Correlated Forex Pairs?
In this video:
00:23 – Trading correlated pairs and the TFTC Pattern Trader results update
00:36 – Confusion over trading correlated pairs
01:38 – Other correlated currencies
02:06 – Trading examples
04:27 – Trades from last week and how I traded the correlated pairs
05:52 – TFTC Pattern Trader update, +3.6% this week on autopilot

Should you trade correlated Forex pairs? Let's talk about that and more right now.

Hey traders, Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 371.

Trading correlated pairs and the TFTC Pattern Trader results update

And I want to talk all about Forex pairs and trading correlated pairs and also, I want to give you an update on the autopilot feature for the trade results this week for our fantastic software called Pattern Trader.

Confusion over trading correlated pairs

So let's start with the question about Forex pairs and correlation. It came from a trader called Joseph and said to me, "Hey Andrew, I've got a question for you. I'm getting confused with knowing which pairs to trade and which are correlated. Can you help me out on a future video and podcast?" So, exactly what we're doing. You would notice that a lot of currency pairs are quite highly correlated. For example, the Euro and the Swiss Franc are highly correlated. And what the EUR/USD does, the USD/CHF generally does the opposite because they're both U.S. dollar related and the Euro and the Franc are related. So if the EUR/USD goes up, on your charts, generally, you will see the USD/CHF drop. You get other correlations acting like the Euro and the Pound, both are very similar markets, same time zone, et cetera. They tend to move quite similar, tend to.

Other correlated currencies

You get other correlations such as the commodity currencies. So in other words, the New Zealand dollar, the Australian dollar and the Canadian dollar, they all tend to move in correlation most of the time. And of course you get exceptions to that. And sometimes you'll get the Aussie dollar move up, as the Kiwi dollar moves down. That's generally something's happened, whether it be a news event or something to split that correlation, but overall, you will find similarities there.

Trading examples

And so an example of this would be, let's say you were trading the EUR/AUD. Now what the EUR/AUD does, let's say it moves up. You will find that the AUD/CHF will likely go the other way. And so you have correlation there because you've got the Australian dollar featuring in both of those. And you've got the Euro and the Franc, which are correlated, so that becomes the issue that some traders have.

And with Joseph, who said, he's confused with these, you can see why, and therefore you just need to be careful. Let's say you were trading the AUD/USD and that was a buy trade. You probably wouldn't want to be trading a sell trade at the same time on, let's say the NZD/USD, because you're unlikely to find the two would work out. Now, of course, there are exceptions again, you have to trade what you see and you have to have a trade plan in place. So if your plan is to take those two trades, regardless, then you do so. But if they're on the same time frame chart, and they show at the same time of the day, then its quite likely there that one's going to work and one, maybe not.

So what you need to do as a trader is you need to do one of few things. You have to look at this and go, do you know what, I'm going to take them both, but I'm going to reduce my risk on each trade.]]>https://theforextradingcoach.com/?p=12747Sun, 21 Jun 2020 12:00:50 +0000Andrew MitchemShould You Trade Correlated Forex Pairs?  Podcast: #371: Should You Trade Correlated Forex Pairs? In this video: 00:23 – Trading correlated pairs and the TFTC Pattern Trader results update 00:36 – Confusion over trading correlated pairs...
Podcast:

#371: Should You Trade Correlated Forex Pairs?
In this video:
00:23 – Trading correlated pairs and the TFTC Pattern Trader results update
00:36 – Confusion over trading correlated pairs
01:38 – Other correlated currencies
02:06 – Trading examples
04:27 – Trades from last week and how I traded the correlated pairs
05:52 – TFTC Pattern Trader update, +3.6% this week on autopilot

Should you trade correlated Forex pairs? Let's talk about that and more right now.

Hey traders, Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 371.

Trading correlated pairs and the TFTC Pattern Trader results update

And I want to talk all about Forex pairs and trading correlated pairs and also, I want to give you an update on the autopilot feature for the trade results this week for our fantastic software called Pattern Trader.

Confusion over trading correlated pairs

So let's start with the question about Forex pairs and correlation. It came from a trader called Joseph and said to me, "Hey Andrew, I've got a question for you. I'm getting confused with knowing which pairs to trade and which are correlated. Can you help me out on a future video and podcast?" So, exactly what we're doing. You would notice that a lot of currency pairs are quite highly correlated. For example, the Euro and the Swiss Franc are highly correlated. And what the EUR/USD does, the USD/CHF generally does the opposite because they're both U.S. dollar related and the Euro and the Franc are related. So if the EUR/USD goes up, on your charts, generally, you will see the USD/CHF drop. You get other correlations acting like the Euro and the Pound, both are very similar markets, same time zone, et cetera. They tend to move quite similar, tend to.

Other correlated currencies

You get other correlations such as the commodity currencies. So in other words, the New Zealand dollar, the Australian dollar and the Canadian dollar, they all tend to move in correlation most of the time. And of course you get exceptions to that. And sometimes you'll get the Aussie dollar move up, as the Kiwi dollar moves down. That's generally something's happened, whether it be a news event or something to split that correlation, but overall, you will find similarities there.

Trading examples

And so an example of this would be, let's say you were trading the EUR/AUD. Now what the EUR/AUD does, let's say it moves up. You will find that the AUD/CHF will likely go the other way. And so you have correlation there because you've got the Australian dollar featuring in both of those. And you've got the Euro and the Franc, which are correlated, so that becomes the issue that some traders have.

And with Joseph, who said, he's confused with these, you can see why, and therefore you just need to be careful. Let's say you were trading the AUD/USD and that was a buy trade. You probably wouldn't want to be trading a sell trade at the same time on, let's say the NZD/USD, because you're unlikely to find the two would work out. Now, of course, there are exceptions again, you have to trade what you see and you have to have a trade plan in place. So if your plan is to take those two trades, regardless, then you do so. But if they're on the same time frame chart, and they show at the same time of the day, then its quite likely there that one's going to work and one, maybe not.

So what you need to do as a trader is you need to do one of few things. You have to look at this and go, do you know what, I'm going to take them both, but I'm going to reduce my risk on each trade.]]>474falsefullhttps://www.spreaker.com/episode/370-a-massive-9-5-gain-this-week-on-auto-pilot--30666800
Podcast:

#370: A Massive +9.5% Gain this Week on Auto Pilot
In this video:
00:29 – Giving you the opportunity to try our new software
00:45 – Do you lack time to trade?
01:25 – Amazing trading software and it’s features
03:35 – This week my account is up +9.5% on autopilot
04:27 – This is how you can use the software
06:19 – The software self learns and adapts

Our amazing new automated trading software has made an incredible 9.5% so far this week, and I'm going to give you the opportunity to get your hands on the software. Let's get into it.

Hey, traders, Andrew Mitchem here at the Forex trading coach with video and podcast number 370.

Giving you the opportunity to try our new software

I'm very excited to give you the opportunity to come on board with us here at the Forex trading coach and get our amazing new auto trade software, and you can start by getting it absolutely free. Some more about that shortly.

Do you lack time to trade?

The problem that a lot of traders have obviously is time, lack of time. People tell me all the time that, Andrew, I'd love to join your course, I'd love to learn trading, I'm too busy. Anything else you can do to help us? What we have done is over the last year, we have behind the scenes been developing an amazing piece of software. It is honestly like no other piece of software you'd have ever seen in the Forex market. It is based entirely on my own trading strategy, completely based on the Forex trading coach principle.

Amazing trading software and it’s features

The amazing part about this software, there's actually so many, but I'm just going to name some of the principle differences with it compared with most other software. What this allows you to do is to create your own portfolio of trading bots, of trading computers, trading robots. The beauty of this is unlike most other systems out there, we have one set of optimised rules, which generally then don't work in real time. This allows you to create different robots based on the principles that I've been trading myself for the last 16 years on different currency pairs, different timeframes, different patterns, everything that I trade. It allows you to create your own group, your own portfolio that suits you as an individual.

The other clever thing that we've done is we've allowed a back testing aspect to this, where you can go and see all the trades over the last 10 years based on the group of bots, the portfolio, and the risk level that you have created. We've also taken it to the next level where we have integrated MT4 into the software. There's no third party apps, there's no virtual servers, there's no expert advisors to add. There's none of that. You don't need any other trading software. You literally just integrate your MT4 platform into the software and all the trades are there getting traded for you.

We've also built the software with a piece of software called telegram, and it means that you can get the trades alerts sent through to you. You can look on your phone, you can look on your computer, you can see the chart, you can see the risk, the reward of the trade, and you can determine yes or no, if you want to take the trade, or you can take that one step further and have the ability to have the software completely on auto pilot or a combination of both, depending on what suits you. It really is amazing software. It honestly is like nothing else you would have seen before. Very easy to use, very easy to create your own group of bots. It's absolutely amazing.

This week my account is up +9.5% on autopilot]]>https://theforextradingcoach.com/?p=12739Sun, 14 Jun 2020 12:00:14 +0000Andrew MitchemA Massive +9.5% Gain this Week on Auto Pilot  Podcast: #370: A Massive +9.5% Gain this Week on Auto Pilot In this video: 00:29 – Giving you the opportunity to try our new software 00:45 – Do you lack time to trade? 01:25 – Amazing trading...
Podcast:

#370: A Massive +9.5% Gain this Week on Auto Pilot
In this video:
00:29 – Giving you the opportunity to try our new software
00:45 – Do you lack time to trade?
01:25 – Amazing trading software and it’s features
03:35 – This week my account is up +9.5% on autopilot
04:27 – This is how you can use the software
06:19 – The software self learns and adapts

Our amazing new automated trading software has made an incredible 9.5% so far this week, and I'm going to give you the opportunity to get your hands on the software. Let's get into it.

Hey, traders, Andrew Mitchem here at the Forex trading coach with video and podcast number 370.

Giving you the opportunity to try our new software

I'm very excited to give you the opportunity to come on board with us here at the Forex trading coach and get our amazing new auto trade software, and you can start by getting it absolutely free. Some more about that shortly.

Do you lack time to trade?

The problem that a lot of traders have obviously is time, lack of time. People tell me all the time that, Andrew, I'd love to join your course, I'd love to learn trading, I'm too busy. Anything else you can do to help us? What we have done is over the last year, we have behind the scenes been developing an amazing piece of software. It is honestly like no other piece of software you'd have ever seen in the Forex market. It is based entirely on my own trading strategy, completely based on the Forex trading coach principle.

Amazing trading software and it’s features

The amazing part about this software, there's actually so many, but I'm just going to name some of the principle differences with it compared with most other software. What this allows you to do is to create your own portfolio of trading bots, of trading computers, trading robots. The beauty of this is unlike most other systems out there, we have one set of optimised rules, which generally then don't work in real time. This allows you to create different robots based on the principles that I've been trading myself for the last 16 years on different currency pairs, different timeframes, different patterns, everything that I trade. It allows you to create your own group, your own portfolio that suits you as an individual.

The other clever thing that we've done is we've allowed a back testing aspect to this, where you can go and see all the trades over the last 10 years based on the group of bots, the portfolio, and the risk level that you have created. We've also taken it to the next level where we have integrated MT4 into the software. There's no third party apps, there's no virtual servers, there's no expert advisors to add. There's none of that. You don't need any other trading software. You literally just integrate your MT4 platform into the software and all the trades are there getting traded for you.

We've also built the software with a piece of software called telegram, and it means that you can get the trades alerts sent through to you. You can look on your phone, you can look on your computer, you can see the chart, you can see the risk, the reward of the trade, and you can determine yes or no, if you want to take the trade, or you can take that one step further and have the ability to have the software completely on auto pilot or a combination of both, depending on what suits you. It really is amazing software. It honestly is like nothing else you would have seen before. Very easy to use, very easy to create your own group of bots. It's absolutely amazing.

This week my account is up +9.5% on autopilot]]>464falsefullhttps://www.spreaker.com/episode/369-should-you-use-a-trailing-stop-loss--29812012
Podcast:

#369: Should You Use a Trailing Stop Loss?
In this video:
00:26 – How to manage trades?
01:08 – Don’t move your stop loss to breakeven
01:50 – Disadvantages of a trailing stop
03:17 – Where do I place a stop loss?
04:05 – How I manage a stop loss
06:15 – Try to avoid moving to breakeven and avoid trailing stops
06:40 – Email me if you have any questions about trading the Forex market

Should you trail your stop, or should you move your stop to break even, or should you do something completely different? Let's talk about that and more, right now.

Hey Forex traders, it's Andrew Mitchem here at The Forex Trading Coach, with video and podcast number 369.

How to manage trades?

Now, I quite often get emails asking me about how I manage trades, and I've had an email come through just today, and it's from someone who's saying "Hey Andrew, can you tell me the best way to trail a stop?" and they basically said they want to use trailing stops, and how should they use it? My question back to them is quite simple. It's how big a stop-loss should you use? And it's like "well, how long is a piece of string?" It really is a level or a number that no one can tell you what you should do, because in my opinion, you should not use trailing stops.

Don’t move your stop loss to breakeven

I also don't think you should move your stop to break even either. Because when you think about it, moving a stop to break even doesn't actually do anything. It might make you feel all warm and fuzzy, and "Well, I can't lose on this trade," but from a trading point of view, and if you actually look at your trade's bigger picture longer term, if you just move your stop to break even, does that actually improve your trading success and your overall profitability?

I highly doubt it does, because when you move your stop to break even, when do you decide to do that? Do you move it when you're almost at your profit target? Do you move it really soon, and then you get stopped out all the time? How do you decide? And it's a little bit like a trailing stop.

Disadvantages of a trailing stop

One of the big disadvantages of a trailing stop is that on most platforms, you actually have to have your computer on, in order for that trailing stop to work, certainly on the MetaTrader platform you do. You can't just put a trailing stop in and turn your computer off, because the trailing stop actually sits on your computer, rather than on the broker's service, unlike a fixed stop or fixed profit target.

And then it comes down to the point of how big is your trailing stop, and when do you introduce that trailing stop? Now, an example would be the Euro British Pound, doesn't move very much, but if you're trading something like the Euro New Zealand or the Pound New Zealand dollar, and then the same stop loss that you use on your Euro-Pound would be stopped at all the time on your bigger moving pair. And then of course, it comes down to another thing: what timeframe charts are you trading, and how big is your stop-loss anyway. So it all becomes quite a bit... It becomes very messy and it doesn't become something that you can do very well with consistency. It starts to become emotional and a bit of guesswork on there. And I don't like emotions and guesswork in trading. I like to know facts on like to know actuals. And I think that's where people who play around with their stop-losses too much actually come on stuck. They actually think they're doing a good thing, but in reality, they're probably not really doing themselves any trading favours.

Where do I place a stop loss?]]>https://theforextradingcoach.com/?p=12719Sun, 07 Jun 2020 12:00:44 +0000Andrew MitchemShould You Use a Trailing Stop Loss?  Podcast: #369: Should You Use a Trailing Stop Loss? In this video: 00:26 – How to manage trades? 01:08 – Don’t move your stop loss to breakeven 01:50 – Disadvantages of a trailing stop 03:17 – Where do I...
Podcast:

#369: Should You Use a Trailing Stop Loss?
In this video:
00:26 – How to manage trades?
01:08 – Don’t move your stop loss to breakeven
01:50 – Disadvantages of a trailing stop
03:17 – Where do I place a stop loss?
04:05 – How I manage a stop loss
06:15 – Try to avoid moving to breakeven and avoid trailing stops
06:40 – Email me if you have any questions about trading the Forex market

Should you trail your stop, or should you move your stop to break even, or should you do something completely different? Let's talk about that and more, right now.

Hey Forex traders, it's Andrew Mitchem here at The Forex Trading Coach, with video and podcast number 369.

How to manage trades?

Now, I quite often get emails asking me about how I manage trades, and I've had an email come through just today, and it's from someone who's saying "Hey Andrew, can you tell me the best way to trail a stop?" and they basically said they want to use trailing stops, and how should they use it? My question back to them is quite simple. It's how big a stop-loss should you use? And it's like "well, how long is a piece of string?" It really is a level or a number that no one can tell you what you should do, because in my opinion, you should not use trailing stops.

Don’t move your stop loss to breakeven

I also don't think you should move your stop to break even either. Because when you think about it, moving a stop to break even doesn't actually do anything. It might make you feel all warm and fuzzy, and "Well, I can't lose on this trade," but from a trading point of view, and if you actually look at your trade's bigger picture longer term, if you just move your stop to break even, does that actually improve your trading success and your overall profitability?

I highly doubt it does, because when you move your stop to break even, when do you decide to do that? Do you move it when you're almost at your profit target? Do you move it really soon, and then you get stopped out all the time? How do you decide? And it's a little bit like a trailing stop.

Disadvantages of a trailing stop

One of the big disadvantages of a trailing stop is that on most platforms, you actually have to have your computer on, in order for that trailing stop to work, certainly on the MetaTrader platform you do. You can't just put a trailing stop in and turn your computer off, because the trailing stop actually sits on your computer, rather than on the broker's service, unlike a fixed stop or fixed profit target.

And then it comes down to the point of how big is your trailing stop, and when do you introduce that trailing stop? Now, an example would be the Euro British Pound, doesn't move very much, but if you're trading something like the Euro New Zealand or the Pound New Zealand dollar, and then the same stop loss that you use on your Euro-Pound would be stopped at all the time on your bigger moving pair. And then of course, it comes down to another thing: what timeframe charts are you trading, and how big is your stop-loss anyway. So it all becomes quite a bit... It becomes very messy and it doesn't become something that you can do very well with consistency. It starts to become emotional and a bit of guesswork on there. And I don't like emotions and guesswork in trading. I like to know facts on like to know actuals. And I think that's where people who play around with their stop-losses too much actually come on stuck. They actually think they're doing a good thing, but in reality, they're probably not really doing themselves any trading favours.

Where do I place a stop loss?]]>418falsefullhttps://www.spreaker.com/episode/368-we-ve-won-the-best-forex-mentorship-2020-award--28745319
Podcast:

#368: We’ve Won The Best Forex Mentorship 2020 Award
In this video:
00:28 – TFTC Wins the Best Forex Mentorship 2020 Award
01:15 – Making trading work for our clients
02:32 – We celebrate our 11th birthday – don’t miss out on our sale
03:36 – Proud to have been coaching for 11 years
04:34 – A very quiet trading week
05:09 – Looking forward to a good trading month in June 

Today, we've just won the award for the number one best Forex mentorship programme online for 2020. I want to talk about that and more right now.

TFTC Wins the Best Forex Mentorship 2020 Award

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 368.

And that's right today, we have been awarded for 2020, the number one best Forex mentorship programme online. We're very, very proud of that. Very thrilled to have won that amongst a group of other very good online companies. It's been awarded to us by the bestonlineforexbroker.com website, and I will put a link to their award with their top ranked Forex mentorship programmes for 2020 on this page. A big achievement. It's taken a lot of hard work and dedication on our behalf to get there, but also it's the reward for the hard work that goes in to ensure that the trading works for our clients.

Making trading work for our clients

Now, ultimately, that's what we're about as a mentorship programme, we're about imparting our knowledge and our education to other people who are out there wanting to learn how to trade and how to do it well. So as a result of this award, I got in contact with the owner of the website, Edward, and I said to Edward, "Look, why have you created this programme? Why have you created this website? What is it all about?" And he said to me, "Look, Andrew", he's been involved in the Forex market for a number of years. And he said, "I was just fed up with the amount of scams out there, the amount of just utter rubbish or garbage, whatever you want to call it, out there in the Forex market." And he wanted to do something about it. So he's created the website, the bestonlineforexbroker.com, and on that he ranks different brokers, and also different online education companies, and of which we were the number one ranked for this year.

So very, very pleased with that. So go and have a look at that site. Like I said, there's a group of really good, honest, quality education companies on there. And we are one of those, but fantastic from our point of view to win the first place. So very, very happy with that.

We celebrate our 11th birthday – don’t miss out on our sale

So that leads on to something that we are holding right now. When you get to watch this video and podcasts, it will be this week. It is going to be on the 3rd of June. For me in New Zealand, starting, could be the 2nd of June if you're in Europe or the US. Now we are holding our 11th birthday sale. So every year on our birthday, we hold a sale where I give a really good, massive discount on the course itself. Now this year, we've just delayed it slightly because we've just been spending the last few weeks updating and upgrading our membership sites. So now it's a great opportunity for you to jump on board. We've just gone to new membership software, makes the whole joining process even more smoother, and the actual site itself is a new and improved look as well.

So we've just delayed the sale by a few weeks, but it's going to be this week, second or 3rd of June, depending on where you live in the world. It's going to be a 12 hour sale and the starting price is going to be absolutely crazily low.]]>https://theforextradingcoach.com/?p=12703Sun, 31 May 2020 12:00:18 +0000Andrew MitchemWe’ve Won The Best Forex Mentorship 2020 Award  Podcast: #368: We’ve Won The Best Forex Mentorship 2020 Award In this video: 00:28 – TFTC Wins the Best Forex Mentorship 2020 Award 01:15 – Making trading work for our clients 02:32 – We...
Podcast:

#368: We’ve Won The Best Forex Mentorship 2020 Award
In this video:
00:28 – TFTC Wins the Best Forex Mentorship 2020 Award
01:15 – Making trading work for our clients
02:32 – We celebrate our 11th birthday – don’t miss out on our sale
03:36 – Proud to have been coaching for 11 years
04:34 – A very quiet trading week
05:09 – Looking forward to a good trading month in June 

Today, we've just won the award for the number one best Forex mentorship programme online for 2020. I want to talk about that and more right now.

TFTC Wins the Best Forex Mentorship 2020 Award

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 368.

And that's right today, we have been awarded for 2020, the number one best Forex mentorship programme online. We're very, very proud of that. Very thrilled to have won that amongst a group of other very good online companies. It's been awarded to us by the bestonlineforexbroker.com website, and I will put a link to their award with their top ranked Forex mentorship programmes for 2020 on this page. A big achievement. It's taken a lot of hard work and dedication on our behalf to get there, but also it's the reward for the hard work that goes in to ensure that the trading works for our clients.

Making trading work for our clients

Now, ultimately, that's what we're about as a mentorship programme, we're about imparting our knowledge and our education to other people who are out there wanting to learn how to trade and how to do it well. So as a result of this award, I got in contact with the owner of the website, Edward, and I said to Edward, "Look, why have you created this programme? Why have you created this website? What is it all about?" And he said to me, "Look, Andrew", he's been involved in the Forex market for a number of years. And he said, "I was just fed up with the amount of scams out there, the amount of just utter rubbish or garbage, whatever you want to call it, out there in the Forex market." And he wanted to do something about it. So he's created the website, the bestonlineforexbroker.com, and on that he ranks different brokers, and also different online education companies, and of which we were the number one ranked for this year.

So very, very pleased with that. So go and have a look at that site. Like I said, there's a group of really good, honest, quality education companies on there. And we are one of those, but fantastic from our point of view to win the first place. So very, very happy with that.

We celebrate our 11th birthday – don’t miss out on our sale

So that leads on to something that we are holding right now. When you get to watch this video and podcasts, it will be this week. It is going to be on the 3rd of June. For me in New Zealand, starting, could be the 2nd of June if you're in Europe or the US. Now we are holding our 11th birthday sale. So every year on our birthday, we hold a sale where I give a really good, massive discount on the course itself. Now this year, we've just delayed it slightly because we've just been spending the last few weeks updating and upgrading our membership sites. So now it's a great opportunity for you to jump on board. We've just gone to new membership software, makes the whole joining process even more smoother, and the actual site itself is a new and improved look as well.

So we've just delayed the sale by a few weeks, but it's going to be this week, second or 3rd of June, depending on where you live in the world. It's going to be a 12 hour sale and the starting price is going to be absolutely crazily low.]]>329falsefullhttps://www.spreaker.com/episode/367-trading-in-10-15-minutes-a-day--28198879
Podcast:

#367: Trading in 10-15 minutes a day
In this video:
00:26 – How much time do you spend watching the charts each day?
01:30 – Waiting for every pip
01:53 – The way we trade
03:12 – Why we trade at 5pm EST, New York Time
03:58 – 4 weeks on holiday and I made +12.7%
04:48 – A normal day
05:37 – Get away from the short time frame charts

I'm going to show you how you can trade the Forex market very well in as little as 10 to 15 minutes per day. Let's talk about that and more right now.

How much time do you spend watching the charts each day?

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 367.

And I want to talk about how much time you spend at your charts, at the computer as a Forex trader. And probably for most people watching this, you're probably part-time traders doing this as an interest, a hobby, something to create a passive income. And what I tend to find is that most people seem to think they need to be set at their computer at their charts all day long or as long as they can. A lot of people say to me, "Andrew, I'm around working in the daytime, but I've got all evening to sit and watch the charts."

And the problem with that is it doesn't become sustainable, it's not reality. Yes, you can do it for a short period of time. But think about this long-term, are you going to spend five days a week just sat there watching your chance every evening? Or if you are working night times, are you going to sit there every day time watching your charts? The reality is that you're not going to be doing that or you're not going to enjoy doing that for very long. And that becomes a problem.

Waiting for every pip

Most people though, they think they've got to be sitting there waiting for every pip per movement, waiting for this line to cross over that line. And just in case you miss something or you're scared to leave a trade open because you might like lose a pip or two. And that's the problem. People thinking in the wrong terms, you should never think in pips, forget the pips, they do not matter.

Think in percentages, but that's another subject. So the reality is that the way that I teach and the way I trade is that most days I spend between 30 and 60 minutes total chart time. Now, when you start trading, when you learn a system, yes, you've got to put that time in the effort upfront. Absolutely you do. You've got to watch, you've got to see what's happening. See how the market behaves, see the behaviours of different currency pairs, all those types of things. But the reality is though that once you know how to trade it's quality, not quantity. And less is more, all those kinds of phrases that you hear, but they are so true when it comes to being a good Forex trader, because you do not need to sit watching your charts all day long in order to do well. And for me in the way that I trade, the way that I teach is that we only look for a trade at the close of a candle.

Now for me, the two main times that I try to be at my computer on New York time, 5:00 PM and 5:00 AM. Those are the two times. If I'm not there exactly at that time, especially the 5:00 AM. It doesn't matter because the way that I trade is I'm taking retracement orders anyway so I don't need to be there. The 5:00 PM. I'm always there because that's when I post my trades for my clients and have done so for nearly 11 years now, without fail, we've never missed day.

Why we trade at 5pm EST, New York Time

So the reasons for those times, the 5:00 PM New York time, that's Eastern standard time. That is at the close of the trading day. That is when I can look at the daily charts, the 12 hour charts, the eight hour charts,]]>https://theforextradingcoach.com/?p=12658Sun, 24 May 2020 12:00:21 +0000Andrew MitchemTrading in 10-15 minutes a day  Podcast: #367: Trading in 10-15 minutes a day In this video: 00:26 – How much time do you spend watching the charts each day? 01:30 – Waiting for every pip 01:53 – The way we trade 03:12 – Why we trade at 5pm...
Podcast:

#367: Trading in 10-15 minutes a day
In this video:
00:26 – How much time do you spend watching the charts each day?
01:30 – Waiting for every pip
01:53 – The way we trade
03:12 – Why we trade at 5pm EST, New York Time
03:58 – 4 weeks on holiday and I made +12.7%
04:48 – A normal day
05:37 – Get away from the short time frame charts

I'm going to show you how you can trade the Forex market very well in as little as 10 to 15 minutes per day. Let's talk about that and more right now.

How much time do you spend watching the charts each day?

Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 367.

And I want to talk about how much time you spend at your charts, at the computer as a Forex trader. And probably for most people watching this, you're probably part-time traders doing this as an interest, a hobby, something to create a passive income. And what I tend to find is that most people seem to think they need to be set at their computer at their charts all day long or as long as they can. A lot of people say to me, "Andrew, I'm around working in the daytime, but I've got all evening to sit and watch the charts."

And the problem with that is it doesn't become sustainable, it's not reality. Yes, you can do it for a short period of time. But think about this long-term, are you going to spend five days a week just sat there watching your chance every evening? Or if you are working night times, are you going to sit there every day time watching your charts? The reality is that you're not going to be doing that or you're not going to enjoy doing that for very long. And that becomes a problem.

Waiting for every pip

Most people though, they think they've got to be sitting there waiting for every pip per movement, waiting for this line to cross over that line. And just in case you miss something or you're scared to leave a trade open because you might like lose a pip or two. And that's the problem. People thinking in the wrong terms, you should never think in pips, forget the pips, they do not matter.

Think in percentages, but that's another subject. So the reality is that the way that I teach and the way I trade is that most days I spend between 30 and 60 minutes total chart time. Now, when you start trading, when you learn a system, yes, you've got to put that time in the effort upfront. Absolutely you do. You've got to watch, you've got to see what's happening. See how the market behaves, see the behaviours of different currency pairs, all those types of things. But the reality is though that once you know how to trade it's quality, not quantity. And less is more, all those kinds of phrases that you hear, but they are so true when it comes to being a good Forex trader, because you do not need to sit watching your charts all day long in order to do well. And for me in the way that I trade, the way that I teach is that we only look for a trade at the close of a candle.

Now for me, the two main times that I try to be at my computer on New York time, 5:00 PM and 5:00 AM. Those are the two times. If I'm not there exactly at that time, especially the 5:00 AM. It doesn't matter because the way that I trade is I'm taking retracement orders anyway so I don't need to be there. The 5:00 PM. I'm always there because that's when I post my trades for my clients and have done so for nearly 11 years now, without fail, we've never missed day.

Why we trade at 5pm EST, New York Time

So the reasons for those times, the 5:00 PM New York time, that's Eastern standard time. That is at the close of the trading day. That is when I can look at the daily charts, the 12 hour charts, the eight hour charts,]]>372falsefullhttps://www.spreaker.com/episode/365-how-to-manage-a-run-of-losing-trades--27568939
Podcast:

#366: How to manage a run of losing trades
In this video:
00:25 – Trader struggles with losing trades
01:41 – Your strategy stops working
02:26 – No trading results are ever even
03:13 – Trade a variety of different time frame charts
04:15 – 7 closed trades and a 7% account gain this week
05:15 – Things will be different next week. Be flexible
06:14 – Examples of using Fib levels

What happens to you when you're in a losing streak of trades? How do you cope? How do you manage with it? Let's talk about that and more, right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with the video and podcast number 366.

Trader struggles with losing trades

So I've received an interesting email from somebody this week. They're not a client, but they were saying, "Andrew, I'm having a really bad losing streak right now. My trades are mostly going wrong. I'm losing money. What do I do? How do I cope with it?" And it's a really interesting question because of course, nobody writes to say, "Hey, I'm having a fantastic time. My trades are going really well. And I now want to change systems and jump in and take your course." But if someone is having a losing run, then they write and say, "Well, how do I overcome this?"

So it's really interesting that that happens. And it's a tricky one to answer, but I'll do my best to give you an explanation of how we trade and help overcome that. Because to me, it's really important that now I'm assuming this person has a good strategy that's been profitable in the past. If you're just jumping straight into a strategy and there's no proof behind it or you don't know how it was created or it's a logic or it's theory, and it's not working. Well, that might be different. You might want to sort of think about jumping out of that one pretty quick.

Your strategy stops working

But I'm assuming, for now, that you've got yourself a strategy that's been profitable, it's been proven in the past, and now all of a sudden, it's not working for you. Now, if that strategy has been good in the past, logic would suggest that there's no reason why it probably won't come right again, but you've still got to get through this time period that you're in right now, where things are going wrong.

So I think it's really important to start with, that you actually, if you've got confidence and faith in your strategy, and you've created this strategy yourself, and you know it works, is to stick at it. Don't go trying to tweak it. Don't try optimising it. Don't add other indicators or changing it because that's likely just to mess with you and mess with the logic and the strategy.

No trading results are ever even

Don't forget also that no trading or any investment for that matter is a straight-line return. It just doesn't happen. Nothing is perfect all the way through. You're not going to make 5% month after month after month after month, perfect straight line. It doesn't happen. You'll still end up with the same result maybe after a year, but you're going to make 2% minus 4% plus 6%. Depending on how your strategy goes, but you'll still get to that same overall result, but no way do you flat line equal results all the time. So you just need to accept that you might be in a situation where the market's not reacting perfectly to the strategy that you have.

Trade a variety of different time frame charts

So here at The Forex Trading Coach, the way that we try to overcome that is we trade a variety of different timeframe charts. Now, to give you an example, this week, I've seen very,]]>https://theforextradingcoach.com/?p=12650Sun, 17 May 2020 11:13:50 +0000Andrew MitchemHow to manage a run of losing trades  Podcast: #366: How to manage a run of losing trades In this video: 00:25 – Trader struggles with losing trades 01:41 – Your strategy stops working 02:26 – No trading results are ever even 03:13 – Trade a...
Podcast:

#366: How to manage a run of losing trades
In this video:
00:25 – Trader struggles with losing trades
01:41 – Your strategy stops working
02:26 – No trading results are ever even
03:13 – Trade a variety of different time frame charts
04:15 – 7 closed trades and a 7% account gain this week
05:15 – Things will be different next week. Be flexible
06:14 – Examples of using Fib levels

What happens to you when you're in a losing streak of trades? How do you cope? How do you manage with it? Let's talk about that and more, right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with the video and podcast number 366.

Trader struggles with losing trades

So I've received an interesting email from somebody this week. They're not a client, but they were saying, "Andrew, I'm having a really bad losing streak right now. My trades are mostly going wrong. I'm losing money. What do I do? How do I cope with it?" And it's a really interesting question because of course, nobody writes to say, "Hey, I'm having a fantastic time. My trades are going really well. And I now want to change systems and jump in and take your course." But if someone is having a losing run, then they write and say, "Well, how do I overcome this?"

So it's really interesting that that happens. And it's a tricky one to answer, but I'll do my best to give you an explanation of how we trade and help overcome that. Because to me, it's really important that now I'm assuming this person has a good strategy that's been profitable in the past. If you're just jumping straight into a strategy and there's no proof behind it or you don't know how it was created or it's a logic or it's theory, and it's not working. Well, that might be different. You might want to sort of think about jumping out of that one pretty quick.

Your strategy stops working

But I'm assuming, for now, that you've got yourself a strategy that's been profitable, it's been proven in the past, and now all of a sudden, it's not working for you. Now, if that strategy has been good in the past, logic would suggest that there's no reason why it probably won't come right again, but you've still got to get through this time period that you're in right now, where things are going wrong.

So I think it's really important to start with, that you actually, if you've got confidence and faith in your strategy, and you've created this strategy yourself, and you know it works, is to stick at it. Don't go trying to tweak it. Don't try optimising it. Don't add other indicators or changing it because that's likely just to mess with you and mess with the logic and the strategy.

No trading results are ever even

Don't forget also that no trading or any investment for that matter is a straight-line return. It just doesn't happen. Nothing is perfect all the way through. You're not going to make 5% month after month after month after month, perfect straight line. It doesn't happen. You'll still end up with the same result maybe after a year, but you're going to make 2% minus 4% plus 6%. Depending on how your strategy goes, but you'll still get to that same overall result, but no way do you flat line equal results all the time. So you just need to accept that you might be in a situation where the market's not reacting perfectly to the strategy that you have.

Trade a variety of different time frame charts

So here at The Forex Trading Coach, the way that we try to overcome that is we trade a variety of different timeframe charts. Now, to give you an example, this week, I've seen very,]]>433falsefullhttps://www.spreaker.com/episode/365-how-a-client-now-owns-his-own-fund-management-company--27022752
Podcast:

#365: How a Client Now Owns His Own Fund Management Company
In this video:
00:31 – Email from a client who joined 3 years ago
01:19 – Started hedge funds and investment bank
01:51 – Look what can be achieved
03:10 – Get the basics right first
03:52 – Echo Trade Copier https://echotradecopier.com/
04:22 – Learn how to trade properly

A client has gone from being a forex student to a full time fund manager (fund management), owning his own company in under three years. Let's explain how and how you can do the same.

Hey traders, Andrew Mitchem here at The Forex Trading Coach for video and podcast number 365. Wanted to get outside again today. Beautiful day out here and make this video.

Email from a client who joined 3 years ago

Now, I've received an email this week from a client of mine who joined me just around three years ago as a student. Never really traded forex that well until he joined us. But he put a huge amount of effort in, at the beginning. Constantly asking questions, constantly being on live webinars and his due diligence that he did with his trading was incredible. Very, very impressive young guy. Did very, very well after joining us. Was very active on our forums, very sensible guy.

Took trade sensibly, didn't gamble. Did all the things that we basically teach, but the information was there provided for him. He took it, he took advantage of it, and now the change around of what he's achieved is unbelievable. But I wanted to read this email to you that I received from him.

Started hedge funds and investment bank

He said, "Things are going well on my end. I've started a few different hedge funds over the past year and even purchased an investment bank with my business partner. We're rapidly growing our assets under management, which is very exciting. We're just about to close a €1.5 billion deal with a consortium in Madrid. I'm about to launch a prop firm, where I'll be allocating funds to different traders. If you're interested, let me know. Or if you know of any other proven traders, I'm more than happy to discuss."

Look what can be achieved

So, it's a couple of things here, is that one, look what this guy has achieved. Just by taking our course and when people say to me, "Hey Andrew, I can't justify spending that amount of money on a course." My response is, well, if you went to university, you're going to get end up with a piece of paper and debt. Almost certainly. I'm not knocking university, but you get what I mean. This guy spent $2,000. It's changed his entire life around. He's learned how to trade properly and now he's got to where he's got with his own company, with potentially with this new one at €1.5 billion under management. That is an incredible turnaround. And if you think that spending a couple grand upfront to get to that stage is not a good investment, then please don't even contemplate joining us because you're really not the right sort of person for us.

We're not a good match. So, just shows what can be achieved. So, that's taking it from beginner to really, really quite special. Not everybody's going to do that, of course, but it shows what can be achieved. But you have to start somewhere and you have to take the decision to want to learn how to trade. And you have to be able to learn how to trade and prove to yourself that you can trade before you get to these next levels.

Get the basics right first

You see, it's all well and good thinking, I'm going to do this and I'm going to do all these flashy things, but unless you can do the first bit right,]]>https://theforextradingcoach.com/?p=12632Sun, 10 May 2020 12:09:14 +0000Andrew MitchemHow a Client Now Owns His Own Fund Management Company  Podcast: #365: How a Client Now Owns His Own Fund Management Company In this video: 00:31 – Email from a client who joined 3 years ago 01:19 – Started hedge funds and investment bank 01:51...
Podcast:

#365: How a Client Now Owns His Own Fund Management Company
In this video:
00:31 – Email from a client who joined 3 years ago
01:19 – Started hedge funds and investment bank
01:51 – Look what can be achieved
03:10 – Get the basics right first
03:52 – Echo Trade Copier https://echotradecopier.com/
04:22 – Learn how to trade properly

A client has gone from being a forex student to a full time fund manager (fund management), owning his own company in under three years. Let's explain how and how you can do the same.

Hey traders, Andrew Mitchem here at The Forex Trading Coach for video and podcast number 365. Wanted to get outside again today. Beautiful day out here and make this video.

Email from a client who joined 3 years ago

Now, I've received an email this week from a client of mine who joined me just around three years ago as a student. Never really traded forex that well until he joined us. But he put a huge amount of effort in, at the beginning. Constantly asking questions, constantly being on live webinars and his due diligence that he did with his trading was incredible. Very, very impressive young guy. Did very, very well after joining us. Was very active on our forums, very sensible guy.

Took trade sensibly, didn't gamble. Did all the things that we basically teach, but the information was there provided for him. He took it, he took advantage of it, and now the change around of what he's achieved is unbelievable. But I wanted to read this email to you that I received from him.

Started hedge funds and investment bank

He said, "Things are going well on my end. I've started a few different hedge funds over the past year and even purchased an investment bank with my business partner. We're rapidly growing our assets under management, which is very exciting. We're just about to close a €1.5 billion deal with a consortium in Madrid. I'm about to launch a prop firm, where I'll be allocating funds to different traders. If you're interested, let me know. Or if you know of any other proven traders, I'm more than happy to discuss."

Look what can be achieved

So, it's a couple of things here, is that one, look what this guy has achieved. Just by taking our course and when people say to me, "Hey Andrew, I can't justify spending that amount of money on a course." My response is, well, if you went to university, you're going to get end up with a piece of paper and debt. Almost certainly. I'm not knocking university, but you get what I mean. This guy spent $2,000. It's changed his entire life around. He's learned how to trade properly and now he's got to where he's got with his own company, with potentially with this new one at €1.5 billion under management. That is an incredible turnaround. And if you think that spending a couple grand upfront to get to that stage is not a good investment, then please don't even contemplate joining us because you're really not the right sort of person for us.

We're not a good match. So, just shows what can be achieved. So, that's taking it from beginner to really, really quite special. Not everybody's going to do that, of course, but it shows what can be achieved. But you have to start somewhere and you have to take the decision to want to learn how to trade. And you have to be able to learn how to trade and prove to yourself that you can trade before you get to these next levels.

Get the basics right first

You see, it's all well and good thinking, I'm going to do this and I'm going to do all these flashy things, but unless you can do the first bit right,]]>350falsefullhttps://www.spreaker.com/episode/364-which-forex-brokers-do-i-use-suggest--26627593
Podcast:

#364: Which Forex Brokers Do I Use & Suggest?
In this video:
00:24 – The brokers that I use and suggest
01:03 – What I look for in a broker
02:27 – List of brokers, including US brokers
02:52 – Other Forex products for you, including Echo Trade Copier
04:00 – TFTC client makes +4.5% gain this week
04:35 – Excellent trading conditions continue
Which Forex brokers do I use, and which do I suggest? Let's talk about that and more right now.
Hey, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 364.
The brokers that I use and suggest
Now, I want to talk about Forex brokers. I get asked about this all the time. So what I've done is I put together a page on my website, on the resources page, which lists all the Forex brokers that I use and suggest with links to each of them on there for you to go and make your own decisions. It's really important that you do your own due diligence, but all I can do is suggest who I use and what I look for in a broker. And the aim of that is to help you to make your decision on who you'd best trust your funds with. Because, of course, like everything, there's a few good brokers out there, and there's a lot of quite ordinary brokers, so you've got to be really, really careful. After all, this is real money.
What I look for in a broker
So I look for a broker who has the MT4 or MT5 platform because that's what I use with my trading software. I then look to see if the broker is regulated, if they have segregated accounts. And also the really important point from my point of view that you need to look for is to check that your broker has a 5:00 PM Eastern Standard Time start of day charts. So that means that they start their new week at 5:00 PM New York time on a Sunday. And the week goes right through to 5:00 PM New York time on a Sunday. But each new day starts at 5:00 PM, closes at 5:00 PM and opens at 5:00, effectively at 5:00 PM for the new day. The easy way for you to go and check that is to look on your charts, and if it's 5:00 PM New York time, and the new daily candle starts and changes over, that tells you, you have a broker with the correct charts.
They'll also have five full days within a week on the daily charts. If you see the six day, sometimes some brokers have a small Sunday candle, to me that's not good because you start distorting indicators and price levels, et cetera. You need to have a broker that opens and starts at 5:00 PM Eastern Standard Time, New York time. So those are the criteria that I look for.
List of brokers, including US brokers
So as mentioned, what I've done is I put together a list of suggested brokers that I use and suggest. I've also put a list there for those of you who are in the U.S. Obviously I don't have accounts with any of the U.S. brokers, but OANDA seems to be the broker that most of my Forex Trading Coach clients use who are based in the U.S., and they seem very, very good also.
Other Forex products for you, including Echo Trade Copier
So I've also put together on that page a list of other Forex products, VPS's, interviews that I've done, trading software that would be useful for you. I've also put a link on there to a website called Echo Trade Copier, that's our new trade copier service that went live this week. Right now as I'm speaking to you, we're up 2.87% for the week so far with one day still to go, which is a very nice start. So the aim of that is to have obviously low drawdowns, high reward to risk trades. It's a mixture between algorithm and trading...]]>https://theforextradingcoach.com/?p=12566Sun, 03 May 2020 11:19:44 +0000Andrew MitchemWhich Forex Brokers Do I Use & Suggest?  Podcast: #364: Which Forex Brokers Do I Use & Suggest? In this video: 00:24 – The brokers that I use and suggest 01:03 – What I look for in a broker 02:27 – List of brokers, including US brokers 02:52 –...
Podcast:

#364: Which Forex Brokers Do I Use & Suggest?
In this video:
00:24 – The brokers that I use and suggest
01:03 – What I look for in a broker
02:27 – List of brokers, including US brokers
02:52 – Other Forex products for you, including Echo Trade Copier
04:00 – TFTC client makes +4.5% gain this week
04:35 – Excellent trading conditions continue
Which Forex brokers do I use, and which do I suggest? Let's talk about that and more right now.
Hey, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 364.
The brokers that I use and suggest
Now, I want to talk about Forex brokers. I get asked about this all the time. So what I've done is I put together a page on my website, on the resources page, which lists all the Forex brokers that I use and suggest with links to each of them on there for you to go and make your own decisions. It's really important that you do your own due diligence, but all I can do is suggest who I use and what I look for in a broker. And the aim of that is to help you to make your decision on who you'd best trust your funds with. Because, of course, like everything, there's a few good brokers out there, and there's a lot of quite ordinary brokers, so you've got to be really, really careful. After all, this is real money.
What I look for in a broker
So I look for a broker who has the MT4 or MT5 platform because that's what I use with my trading software. I then look to see if the broker is regulated, if they have segregated accounts. And also the really important point from my point of view that you need to look for is to check that your broker has a 5:00 PM Eastern Standard Time start of day charts. So that means that they start their new week at 5:00 PM New York time on a Sunday. And the week goes right through to 5:00 PM New York time on a Sunday. But each new day starts at 5:00 PM, closes at 5:00 PM and opens at 5:00, effectively at 5:00 PM for the new day. The easy way for you to go and check that is to look on your charts, and if it's 5:00 PM New York time, and the new daily candle starts and changes over, that tells you, you have a broker with the correct charts.
They'll also have five full days within a week on the daily charts. If you see the six day, sometimes some brokers have a small Sunday candle, to me that's not good because you start distorting indicators and price levels, et cetera. You need to have a broker that opens and starts at 5:00 PM Eastern Standard Time, New York time. So those are the criteria that I look for.
List of brokers, including US brokers
So as mentioned, what I've done is I put together a list of suggested brokers that I use and suggest. I've also put a list there for those of you who are in the U.S. Obviously I don't have accounts with any of the U.S. brokers, but OANDA seems to be the broker that most of my Forex Trading Coach clients use who are based in the U.S., and they seem very, very good also.
Other Forex products for you, including Echo Trade Copier
So I've also put together on that page a list of other Forex products, VPS's, interviews that I've done, trading software that would be useful for you. I've also put a link on there to a website called Echo Trade Copier, that's our new trade copier service that went live this week. Right now as I'm speaking to you, we're up 2.87% for the week so far with one day still to go, which is a very nice start. So the aim of that is to have obviously low drawdowns, high reward to risk trades. It's a mixture between algorithm and trading...]]>319falsefullhttps://www.spreaker.com/episode/363-excellent-market-conditions-continue--26131105
Podcast:

#363: Excellent Market Conditions Continue
In this video:
00:28 – Week 5 of Coronavirus lockdown
00:49 – Great trading conditions and examples of our trades
01:35 – Live webinar with clients
02:02 – What are you doing about this?
02:49 – Economically, things are not good
04:02 – There are opportunities out there
04:38 – Conditions are perfect right now, are you ready? 
So the excellent forex trading conditions are continuing well into lockdown. Are you taking advantage of these conditions or not? Let's talk about that and more right now.
Hey, traders, Andrew Mitchem here at The Forex Trading Coach outside again today. I'm just wanting to get away from the computer and share some beautiful scenery with you here.
Week 5 of Coronavirus lockdown
Look, we're in week five of lockdown, but the great thing is is that as a forex trader, the incredibly good market conditions are continuing. A few people have said to me, "Hey Andrew, you know, with the financial markets are slowing, is this going to have any impact?" Well, right now the forex market conditions are incredibly good.
Great trading conditions and examples of our trades
To give you a few examples, I've been talking about a sell trade we took two weeks ago on the Euro/Canadian weekly chart that is now still in great profit. That pair has dropped about 300 pips from high to low so far this week. The trade continues to go well. We took some trades on our 12-hour charts posted on our forum site that have worked out beautifully this week, make very good high reward to risk trades. We've had sell trades on the Euro/Aussie, Euro/US that have done well this week, hit the profit targets. Right now I'm still in on a buy trade on gold that's going really well on the daily chart as well, all mentioned on our membership site for clients to follow along to not only learn from, but also to earn from.
Live webinar with clients
I held a live webinar last night for clients. We had over a hundred people on there, and that's the great thing with lockdown. I'm getting lots of people attending the client webinar live and attending the forum site, but I took a sell trade on the franc/yen and made about a one and a half to one reward to risk and it did it in I think about half an hour, and there again, makes full profit in front of people live on a webinar.
What are you doing about this?
So great trading conditions are there, so really it comes down to that's all well and good for me to say, "Yeah, we're taking lots of great trades," but really the purpose of this video is to ask you a question. It's like, what are you doing about this? You know, when it comes to time, for most people around the world we're still in lockdown. We're in week five or just about to start week five of lockdown here in New Zealand. We can't really go anywhere, and most people are in a similar situation or worse around the world, and so what are you doing about this? I made a video about three weeks ago saying well, what are you doing to take advantage of these conditions? And now here we are three weeks later. Have you answered that? Are you taking advantage of some extra time that you may have to do something about this?
Economically, things are not good
Because look, realistically, economically things are pretty grim out there. Here in New Zealand, things are pretty bad. You know, even here in Nelson in New Zealand they just pulled out with 100 jobs in the maintenance here in Nelson. The company who I use personally for helicopter maintenance, they've gone. You know,]]>https://theforextradingcoach.com/?p=12537Sun, 26 Apr 2020 11:21:41 +0000Andrew MitchemExcellent Market Conditions Continue  Podcast: #363: Excellent Market Conditions Continue In this video: 00:28 – Week 5 of Coronavirus lockdown 00:49 – Great trading conditions and examples of our trades 01:35 – Live webinar with clients 02:02 –...
Podcast:

#363: Excellent Market Conditions Continue
In this video:
00:28 – Week 5 of Coronavirus lockdown
00:49 – Great trading conditions and examples of our trades
01:35 – Live webinar with clients
02:02 – What are you doing about this?
02:49 – Economically, things are not good
04:02 – There are opportunities out there
04:38 – Conditions are perfect right now, are you ready? 
So the excellent forex trading conditions are continuing well into lockdown. Are you taking advantage of these conditions or not? Let's talk about that and more right now.
Hey, traders, Andrew Mitchem here at The Forex Trading Coach outside again today. I'm just wanting to get away from the computer and share some beautiful scenery with you here.
Week 5 of Coronavirus lockdown
Look, we're in week five of lockdown, but the great thing is is that as a forex trader, the incredibly good market conditions are continuing. A few people have said to me, "Hey Andrew, you know, with the financial markets are slowing, is this going to have any impact?" Well, right now the forex market conditions are incredibly good.
Great trading conditions and examples of our trades
To give you a few examples, I've been talking about a sell trade we took two weeks ago on the Euro/Canadian weekly chart that is now still in great profit. That pair has dropped about 300 pips from high to low so far this week. The trade continues to go well. We took some trades on our 12-hour charts posted on our forum site that have worked out beautifully this week, make very good high reward to risk trades. We've had sell trades on the Euro/Aussie, Euro/US that have done well this week, hit the profit targets. Right now I'm still in on a buy trade on gold that's going really well on the daily chart as well, all mentioned on our membership site for clients to follow along to not only learn from, but also to earn from.
Live webinar with clients
I held a live webinar last night for clients. We had over a hundred people on there, and that's the great thing with lockdown. I'm getting lots of people attending the client webinar live and attending the forum site, but I took a sell trade on the franc/yen and made about a one and a half to one reward to risk and it did it in I think about half an hour, and there again, makes full profit in front of people live on a webinar.
What are you doing about this?
So great trading conditions are there, so really it comes down to that's all well and good for me to say, "Yeah, we're taking lots of great trades," but really the purpose of this video is to ask you a question. It's like, what are you doing about this? You know, when it comes to time, for most people around the world we're still in lockdown. We're in week five or just about to start week five of lockdown here in New Zealand. We can't really go anywhere, and most people are in a similar situation or worse around the world, and so what are you doing about this? I made a video about three weeks ago saying well, what are you doing to take advantage of these conditions? And now here we are three weeks later. Have you answered that? Are you taking advantage of some extra time that you may have to do something about this?
Economically, things are not good
Because look, realistically, economically things are pretty grim out there. Here in New Zealand, things are pretty bad. You know, even here in Nelson in New Zealand they just pulled out with 100 jobs in the maintenance here in Nelson. The company who I use personally for helicopter maintenance, they've gone. You know,]]>371falsefullhttps://www.spreaker.com/episode/362-can-you-make-money-with-a-small-forex-account--25745700Podcast:

Can You Make Money With A Small Forex Account?
In this video:
00:26 – Making money as a small time forex trader
01:22 – Yes you can make money – but once you know how to trade
02:15 – Client from Germany making great returns
03:55 – How do I make money though?
05:15 – An example of a trading service
06:12 – Reinvest the income into your own trading account
06:54 – Change your mindset
Can you really make money as a trader with a small Forex account? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 362.
Making money as a small time forex trader
Now I want to get away from the coronavirus just for a bit because everybody's talking about it and wanted to get outside away from the office and away from the charts and just talk about the practicalities of making money as a small time Forex trader. Can you do it and how do you do it? It's a subject that I get asked quite a lot and I made a video on this exact same subject about five or six years ago and I put a comment on the YouTube page saying look, I'll make an update because I think it's important to refresh these kinds of things because so many people are looking at trading, but they're not wanting to put too much into their account to start with or they can't afford to put too much into account to start with. So how do you go about being profitable, making money as a small time trader with a tiny account?
Yes you can make money – but once you know how to trade
And the answer is, the good thing is yes, you can make money. But like I've said to people in the past, look right now your account size doesn't really matter. If you're looking at any form of training, education course, whatever it might be, don't look at the value of that course and go, my account, $1,000, your course is $2,000, how on earth can I afford it? Don't look at it like that. The important thing for you right now is to learn how to trade and that's the really important aspect. You've got to understand the market, you've got to learn how you can trade yourself.
And I think that's really important and it's quite underestimated. It's something that people look over and they kind of value everything according to what they can afford right now today.
Client from Germany making great returns
Now I've got a client from Germany who joined me about six months ago. He is incredibly profitable on our forum site. He shows me his trades, but he has got quite a small account. It's under 1000 euros. Now he trades with nano lots, so not even micro lots but nano lots and he's constantly making really good money. He's making like sort of three euros, five euros, six euros. So when you look at his monetary value, for some people they go, "Oh, that's not very much." But when you look at what he's making per trade, and he's making lots of trades, because this particular guy I'm thinking of likes the shorter timeframe charts. He might be making between five and 10 trades a day and he posts on our forum site.
Yet when you add all those up, he might be making of two, three, four, 5% a day on his account. Now the important thing is also, because he came to me recently and said, where do I go from here? So my answer is quite simple. You've done the hard yards right. You've done the hard work up front. You've taken your time. You've not worried about your monetary return. You've attended webinars, you've understood the strategy, you've asked questions, you're on our forum site,]]>https://theforextradingcoach.com/?p=12528Sun, 19 Apr 2020 11:40:53 +0000Andrew Mitchem Podcast: Can You Make Money With A Small Forex Account? In this video: 00:26 – Making money as a small time forex trader 01:22 – Yes you can make money – but once you know how to trade 02:15 – Client from Germany making great returns...Podcast:

Can You Make Money With A Small Forex Account?
In this video:
00:26 – Making money as a small time forex trader
01:22 – Yes you can make money – but once you know how to trade
02:15 – Client from Germany making great returns
03:55 – How do I make money though?
05:15 – An example of a trading service
06:12 – Reinvest the income into your own trading account
06:54 – Change your mindset
Can you really make money as a trader with a small Forex account? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 362.
Making money as a small time forex trader
Now I want to get away from the coronavirus just for a bit because everybody's talking about it and wanted to get outside away from the office and away from the charts and just talk about the practicalities of making money as a small time Forex trader. Can you do it and how do you do it? It's a subject that I get asked quite a lot and I made a video on this exact same subject about five or six years ago and I put a comment on the YouTube page saying look, I'll make an update because I think it's important to refresh these kinds of things because so many people are looking at trading, but they're not wanting to put too much into their account to start with or they can't afford to put too much into account to start with. So how do you go about being profitable, making money as a small time trader with a tiny account?
Yes you can make money – but once you know how to trade
And the answer is, the good thing is yes, you can make money. But like I've said to people in the past, look right now your account size doesn't really matter. If you're looking at any form of training, education course, whatever it might be, don't look at the value of that course and go, my account, $1,000, your course is $2,000, how on earth can I afford it? Don't look at it like that. The important thing for you right now is to learn how to trade and that's the really important aspect. You've got to understand the market, you've got to learn how you can trade yourself.
And I think that's really important and it's quite underestimated. It's something that people look over and they kind of value everything according to what they can afford right now today.
Client from Germany making great returns
Now I've got a client from Germany who joined me about six months ago. He is incredibly profitable on our forum site. He shows me his trades, but he has got quite a small account. It's under 1000 euros. Now he trades with nano lots, so not even micro lots but nano lots and he's constantly making really good money. He's making like sort of three euros, five euros, six euros. So when you look at his monetary value, for some people they go, "Oh, that's not very much." But when you look at what he's making per trade, and he's making lots of trades, because this particular guy I'm thinking of likes the shorter timeframe charts. He might be making between five and 10 trades a day and he posts on our forum site.
Yet when you add all those up, he might be making of two, three, four, 5% a day on his account. Now the important thing is also, because he came to me recently and said, where do I go from here? So my answer is quite simple. You've done the hard yards right. You've done the hard work up front. You've taken your time. You've not worried about your monetary return. You've attended webinars, you've understood the strategy, you've asked questions, you're on our forum site,]]>485falsefullhttps://www.spreaker.com/episode/361-this-trade-has-a-14-6-reward-risk-ratio--25341680Podcast:

This Trade has a 14.6 Reward:Risk ratio
In this video:
00:29 – Selling the EUR/CAD on the Weekly chart
00:46 – I promote high reward:risk trades
01:33 – Money management is very important
02:32 – Low risk per trade is also important
03:39 – Trade with a 14.6:1 R:R profit target, currently at 6.4:1 R:R
06:16 – Understanding what you need to do in order to trade well
I want to tell you all about a trade that I've got on my platform right now that has a 14.6:1 reward to risk ratio. Let's get into that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 361.
Selling the EUR/CAD on the Weekly chart
I want to talk about a trade that I've got on the weekly charts on the Euro/Canadian Dollar. We put it on our membership site on Monday. It has a 14.6:1 reward to risk ratio if it gets to its full profit target. More about that shortly.
I promote high reward:risk trades
But if you've been following me for any length of time, you know that I endorse and I suggest and I promote people look at trades that have a high reward to risk ratio. So what does that mean? So in easy numbers it means if you have a reward to risk of let's say 4:1, it means if you're risking 1 part you're making 4. So if you're risking 1% of your account, you're making 4%. For me, I personally trade at half of 1% risk per trade, is what suits me. So that means I'm risking one part, of half of 1% of my account, to make 4 parts, or 2% gain on my account if the trade gets to the profit target. It's very easy for you to do that regardless of your account size.
Money management is very important
To me, the biggest part of trading apart from having a strategy and a right mind set is to have that money management important that you get it right. So low risk per trade is very, very important but also high reward to risk is very important. So it means that I'm not always going to be right. I don't need to be right all of the time. In fact, the higher the win rate most systems the worse they are. Hard to understand that, but it's true. Think about it this way: there's no point in having a 90% winning system if you're losing money. Most 90% winning trade systems do lose money because they make lots of small gains, one big loss. I flip that around and go the other way. For me, something like a 40-50% win rate is amazing, because I have high reward to risk trades. Some are 2:1, some are 3, 4, 5:1. The one in particular that I'm going to talk about is 14.6:1.
Low risk per trade is also important
So low risk per trade is massively important also. I was looking at a post on Facebook, one of those sponsored links on Facebook, someone selling this new algorithm. It was really interesting to look into it, because it looked really cool. It looked really flashy, looked amazing. Then you look into it a bit further and I could see that they were risking 5% per trade. Now for the novice or for the completely financially person doesn't understand trading, 5% risk per trade doesn't sound like anything good or bad really. It's just looks really cool and you make lots of money. The problem is if they get three or four trades wrong in a row, they're 15, 20% down. If I get three or four trades wrong in a row, I'm 1.5 to 2% down. Massive difference especially up here and in here. Big, big difference. So if you're listening to the podcast, I was tapping to my head and my heart. So psychologically and emotionally, it makes a big, big difference.
Trade with a 14.6:1 R:R profit target, currently at 6.4:1 R:R
So, let's get onto this trade.]]>https://theforextradingcoach.com/?p=12505Sun, 12 Apr 2020 11:55:58 +0000Andrew Mitchem Podcast: This Trade has a 14.6 Reward:Risk ratio In this video: 00:29 – Selling the EUR/CAD on the Weekly chart 00:46 – I promote high reward:risk trades 01:33 – Money management is very important 02:32 – Low risk per trade is also...Podcast:

This Trade has a 14.6 Reward:Risk ratio
In this video:
00:29 – Selling the EUR/CAD on the Weekly chart
00:46 – I promote high reward:risk trades
01:33 – Money management is very important
02:32 – Low risk per trade is also important
03:39 – Trade with a 14.6:1 R:R profit target, currently at 6.4:1 R:R
06:16 – Understanding what you need to do in order to trade well
I want to tell you all about a trade that I've got on my platform right now that has a 14.6:1 reward to risk ratio. Let's get into that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 361.
Selling the EUR/CAD on the Weekly chart
I want to talk about a trade that I've got on the weekly charts on the Euro/Canadian Dollar. We put it on our membership site on Monday. It has a 14.6:1 reward to risk ratio if it gets to its full profit target. More about that shortly.
I promote high reward:risk trades
But if you've been following me for any length of time, you know that I endorse and I suggest and I promote people look at trades that have a high reward to risk ratio. So what does that mean? So in easy numbers it means if you have a reward to risk of let's say 4:1, it means if you're risking 1 part you're making 4. So if you're risking 1% of your account, you're making 4%. For me, I personally trade at half of 1% risk per trade, is what suits me. So that means I'm risking one part, of half of 1% of my account, to make 4 parts, or 2% gain on my account if the trade gets to the profit target. It's very easy for you to do that regardless of your account size.
Money management is very important
To me, the biggest part of trading apart from having a strategy and a right mind set is to have that money management important that you get it right. So low risk per trade is very, very important but also high reward to risk is very important. So it means that I'm not always going to be right. I don't need to be right all of the time. In fact, the higher the win rate most systems the worse they are. Hard to understand that, but it's true. Think about it this way: there's no point in having a 90% winning system if you're losing money. Most 90% winning trade systems do lose money because they make lots of small gains, one big loss. I flip that around and go the other way. For me, something like a 40-50% win rate is amazing, because I have high reward to risk trades. Some are 2:1, some are 3, 4, 5:1. The one in particular that I'm going to talk about is 14.6:1.
Low risk per trade is also important
So low risk per trade is massively important also. I was looking at a post on Facebook, one of those sponsored links on Facebook, someone selling this new algorithm. It was really interesting to look into it, because it looked really cool. It looked really flashy, looked amazing. Then you look into it a bit further and I could see that they were risking 5% per trade. Now for the novice or for the completely financially person doesn't understand trading, 5% risk per trade doesn't sound like anything good or bad really. It's just looks really cool and you make lots of money. The problem is if they get three or four trades wrong in a row, they're 15, 20% down. If I get three or four trades wrong in a row, I'm 1.5 to 2% down. Massive difference especially up here and in here. Big, big difference. So if you're listening to the podcast, I was tapping to my head and my heart. So psychologically and emotionally, it makes a big, big difference.
Trade with a 14.6:1 R:R profit target, currently at 6.4:1 R:R
So, let's get onto this trade.]]>429falsefullhttps://www.spreaker.com/episode/360-what-s-your-new-side-hustle-while-in-lockdown--24845441Podcast:

What’s Your New Side Hustle While in Lockdown?
In this video:
00:23 – Week #2 of the lockdown
01:16 – An amazing opportunity right now
02:09 – A real life example from a trader in London
03:20 – We’re seeing great trading conditions in the Forex market
03:53 – Can you trade well and start your side hustle?
05:21 – We have clients in 88 Countries
What's your new side hustle going to be while you're in lockdown from the virus? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 360.
Week #2 of the lockdown
We're in week number two of the lockdown here in New Zealand, and I'm sure that wherever you're watching this around the world, you're probably in a similar situation. I want to talk about something that could make a massive difference to you, your trading, your life while we're in this lockdown period. Because, you see, like with a lot of things, you have a couple of choices. You can either go down the grumpy route, the sit watching TV, doing nothing, getting fed up with it. All those types of emotions come into it, and that's perfectly understandable.
But then you can also take advantage of the situation and do something now, as a side hustle, as an example, I'll talk about that shortly, to really help you once we get to the other side of all this.
An amazing opportunity right now
Because as I see this now, you've got the opportunity to learn a new skill. You've got the opportunity to create a new side hustle and get that started. And you've got the opportunity to come out of this with a lot more knowledge.
Really, when you think about it, if you don't do any of those, when we're out of this quarantine lockdown period from this coronavirus, if you don't do any of those, it's not the time that you lacked. Because, let's face it, most people say, "I don't have time for this, and I don't have time to learn trading." It's not time that you lack, it's discipline, and there's no other way of looking at it. Almost everybody now, right now, has more time available to them than they probably ever have done, so it really is a lack of your discipline if you don't do anything about it.
A real life example from a trader in London
Now, I want to give you a real life example. A client of mine over in London, he lost his job around two or three weeks ago, and he has been trading so well ever since that time. He traded pretty well before that, but because he's in lockdown, an enforced lockdown, with his wife and his child, he has done some incredible trading. Just on Tuesday, he emailed me to say he made a 3.4% gain on his account. Just this morning, my time, he sent through a post on our forum site where he put five trades on there on 15 minute, 30, and one hour charts, 30 minute and one hour charts. All five made profit for another 3.2%. He's taking advantage of this time being at home, and he is looking at the shorter timeframe charts, something that he doesn't normally do, one, because he's at work and, two, because the shorter timeframe charts historically have not been quite so good to trade, because of the lack of price action.
We’re seeing great trading conditions in the Forex market
What we're seeing in the Forex market right now is incredibly good price action, big moves across all pairs for weeks and weeks now. Just incredible opportunities. And so, he's taking advantage of this time being in lockdown, and he's doing something about it.
I mentioned at the beginning about one of the options,]]>https://theforextradingcoach.com/?p=12497Sun, 05 Apr 2020 11:27:26 +0000Andrew Mitchem Podcast: What’s Your New Side Hustle While in Lockdown? In this video: 00:23 – Week #2 of the lockdown 01:16 – An amazing opportunity right now 02:09 – A real life example from a trader in London 03:20 – We’re seeing great trading...Podcast:

What’s Your New Side Hustle While in Lockdown?
In this video:
00:23 – Week #2 of the lockdown
01:16 – An amazing opportunity right now
02:09 – A real life example from a trader in London
03:20 – We’re seeing great trading conditions in the Forex market
03:53 – Can you trade well and start your side hustle?
05:21 – We have clients in 88 Countries
What's your new side hustle going to be while you're in lockdown from the virus? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 360.
Week #2 of the lockdown
We're in week number two of the lockdown here in New Zealand, and I'm sure that wherever you're watching this around the world, you're probably in a similar situation. I want to talk about something that could make a massive difference to you, your trading, your life while we're in this lockdown period. Because, you see, like with a lot of things, you have a couple of choices. You can either go down the grumpy route, the sit watching TV, doing nothing, getting fed up with it. All those types of emotions come into it, and that's perfectly understandable.
But then you can also take advantage of the situation and do something now, as a side hustle, as an example, I'll talk about that shortly, to really help you once we get to the other side of all this.
An amazing opportunity right now
Because as I see this now, you've got the opportunity to learn a new skill. You've got the opportunity to create a new side hustle and get that started. And you've got the opportunity to come out of this with a lot more knowledge.
Really, when you think about it, if you don't do any of those, when we're out of this quarantine lockdown period from this coronavirus, if you don't do any of those, it's not the time that you lacked. Because, let's face it, most people say, "I don't have time for this, and I don't have time to learn trading." It's not time that you lack, it's discipline, and there's no other way of looking at it. Almost everybody now, right now, has more time available to them than they probably ever have done, so it really is a lack of your discipline if you don't do anything about it.
A real life example from a trader in London
Now, I want to give you a real life example. A client of mine over in London, he lost his job around two or three weeks ago, and he has been trading so well ever since that time. He traded pretty well before that, but because he's in lockdown, an enforced lockdown, with his wife and his child, he has done some incredible trading. Just on Tuesday, he emailed me to say he made a 3.4% gain on his account. Just this morning, my time, he sent through a post on our forum site where he put five trades on there on 15 minute, 30, and one hour charts, 30 minute and one hour charts. All five made profit for another 3.2%. He's taking advantage of this time being at home, and he is looking at the shorter timeframe charts, something that he doesn't normally do, one, because he's at work and, two, because the shorter timeframe charts historically have not been quite so good to trade, because of the lack of price action.
We’re seeing great trading conditions in the Forex market
What we're seeing in the Forex market right now is incredibly good price action, big moves across all pairs for weeks and weeks now. Just incredible opportunities. And so, he's taking advantage of this time being in lockdown, and he's doing something about it.
I mentioned at the beginning about one of the options,]]>406falsefullhttps://www.spreaker.com/episode/359-what-is-forex-and-how-do-you-start-trading--24546385Podcast:

What Is Forex and How Do You Start Trading?
In this video:
00:26 – The basics of Forex trading
00:46 – Coronavirus and the need for additional income
01:11 – Forex is the best market to trade – here’s why
02:10 – Trading currencies in pairs
03:16 – You can also make money when the Currencies fall
05:16 – Allows you to work from home and create a passive income
05:50 – Clients can become full time traders
06:15 – Emails from clients, excellent trading results
07:57 – You need to start with the basics
What is Forex? How do you trade the Forex market? How do you get into it, and what are the benefits? Let's talk about that and more right now.
Hey, traders. it's Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 359.
The basics of Forex trading
I want to take a step back this week and talk about the absolute basics of Forex trading, what it is, how do you get into it, the process you need to go to, seeing if you're the right fit, et cetera.
So if you've been trading for a while, I apologise that this is going to be more of a newbies video and podcast.
Coronavirus and the need for additional income
But the reason I'm making this right now is because with the coronavirus issue going on around the world, and yes, it even affected us here in New Zealand with a lockdown right now, a lot of people are coming to me saying, "Look, I need some form of new income. I've heard about trading. I don't know about it. How do I start? What is it even?" So I wanted to make this video because it's very, very topical.
Forex is the best market to trade – here’s why
So look, to me, trading the Forex market is like no other market, and it's been my only and preferred choice of Forex market now for 16 years. I'll explain to you what it is, and then why I trade it, and then I've got some emails here I'd like to read out that I've received just this week to show what can be achieved.
So going back to the absolute basics, in the Forex market, there are eight main currencies. There are several others, but there are eight main currencies that we look at trading, and they are the US dollar, the Canadian, the Pound, the Euro, the Yen, the Franc, the Australian dollar, and the New Zealand dollar. It doesn't matter where you live in the world, what time zone you're on, what your local currency is. None of that really matters when you come to trade the Forex market. I don't trade just the New Zealand dollar because I live here. If you live in the US, you don't need to trade just the US dollar.
Trading currencies in pairs
So what we're doing is when we say trading a currency, we actually trade currencies in pairs. So it means that we're trading two of those eight together. So when you buy stocks or shares, you're buying just one of something, and you're anticipating it's going to go up in value in most cases. A little bit like when you buy a house, you're buying a house. You're expecting it or hoping it's going to go up in value, especially if it's an investment property. But with currencies, we trade currency pairs, so we trade, let's say for instance, the Euro against the US dollar.
So we always trade it that way round. It's never the US dollar against the Euro. It's just the way that it's written. So we're looking at one currency to strengthen and the other to weaken. So if, for instance, we look at our charts or economically, we look at what's happening in the Euro, and we look at the Euro to strengthen,]]>https://theforextradingcoach.com/?p=12476Sun, 29 Mar 2020 12:03:47 +0000Andrew Mitchem Podcast: What Is Forex and How Do You Start Trading? In this video: 00:26 – The basics of Forex trading 00:46 – Coronavirus and the need for additional income 01:11 – Forex is the best market to trade – here’s why 02:10 – Trading currencies...Podcast:

What Is Forex and How Do You Start Trading?
In this video:
00:26 – The basics of Forex trading
00:46 – Coronavirus and the need for additional income
01:11 – Forex is the best market to trade – here’s why
02:10 – Trading currencies in pairs
03:16 – You can also make money when the Currencies fall
05:16 – Allows you to work from home and create a passive income
05:50 – Clients can become full time traders
06:15 – Emails from clients, excellent trading results
07:57 – You need to start with the basics
What is Forex? How do you trade the Forex market? How do you get into it, and what are the benefits? Let's talk about that and more right now.
Hey, traders. it's Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 359.
The basics of Forex trading
I want to take a step back this week and talk about the absolute basics of Forex trading, what it is, how do you get into it, the process you need to go to, seeing if you're the right fit, et cetera.
So if you've been trading for a while, I apologise that this is going to be more of a newbies video and podcast.
Coronavirus and the need for additional income
But the reason I'm making this right now is because with the coronavirus issue going on around the world, and yes, it even affected us here in New Zealand with a lockdown right now, a lot of people are coming to me saying, "Look, I need some form of new income. I've heard about trading. I don't know about it. How do I start? What is it even?" So I wanted to make this video because it's very, very topical.
Forex is the best market to trade – here’s why
So look, to me, trading the Forex market is like no other market, and it's been my only and preferred choice of Forex market now for 16 years. I'll explain to you what it is, and then why I trade it, and then I've got some emails here I'd like to read out that I've received just this week to show what can be achieved.
So going back to the absolute basics, in the Forex market, there are eight main currencies. There are several others, but there are eight main currencies that we look at trading, and they are the US dollar, the Canadian, the Pound, the Euro, the Yen, the Franc, the Australian dollar, and the New Zealand dollar. It doesn't matter where you live in the world, what time zone you're on, what your local currency is. None of that really matters when you come to trade the Forex market. I don't trade just the New Zealand dollar because I live here. If you live in the US, you don't need to trade just the US dollar.
Trading currencies in pairs
So what we're doing is when we say trading a currency, we actually trade currencies in pairs. So it means that we're trading two of those eight together. So when you buy stocks or shares, you're buying just one of something, and you're anticipating it's going to go up in value in most cases. A little bit like when you buy a house, you're buying a house. You're expecting it or hoping it's going to go up in value, especially if it's an investment property. But with currencies, we trade currency pairs, so we trade, let's say for instance, the Euro against the US dollar.
So we always trade it that way round. It's never the US dollar against the Euro. It's just the way that it's written. So we're looking at one currency to strengthen and the other to weaken. So if, for instance, we look at our charts or economically, we look at what's happening in the Euro, and we look at the Euro to strengthen,]]>533falsefullhttps://www.spreaker.com/episode/358-if-you-don-t-trade-forex-now-you-never-will--24167637Podcast:

If You Don’t Trade Forex Now, You Never Will
In this video:
00:24 – The world has gone mad
00:36 – Traditional investing is not working
01:00 – Why we trade the Forex market
01:21 – You need to be trading right now
01:57 – Email from a client from Ireland
02:24 – Trader joins after 6 years
03:35 – It’s now or never
If you don't start trading the Forex market in these current conditions, you probably never will. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, owner of The Forex Trading Coach with video and podcast number 358.
The world has gone mad
Okay, so it's official. The world's gone mad. Everything's in utter chaos. Everybody's shut down. No one can go anywhere. It's all doom and gloom. Or is it?
Traditional investing is not working
So obviously, with the traditional markets, the stocks, the shares, everything's falling, everything's crashing. Property may well do the same. Interest rates are zero everywhere. And the traditional routes of investing are not particularly good right now. Everybody's locked up at home, self-isolation. Everybody's all depressed.
Why we trade the Forex market
But the good news is, and one of the reasons why we trade the Forex market, is because what happens in all these other markets doesn't really affect the Forex market. Sure, it affects it in terms of the Forex market moves.
But the great thing is, is all we want as far as traders is some volatility, some price actions, some movement. And that is exactly what we have right now.
You need to be trading right now
So if you're not trading the Forex market, you need to be. If you've got any interest in trading the Forex market and you wanted to learn how to do it, now is the time to do it. You're probably stuck at home, can't do too much else. The market is in absolute prime conditions right now for Forex traders to be doing well. We've just had some amazing moves on all currency pairs, so you need to be on this right now, taking advantage of it. And to be honest, these conditions are likely to last for a long, long time. So you've got time. But do it now. Don't delay. Take advantage of it now.
Email from a client from Ireland
I need to read you this email that I've had from a client of mine over in Ireland. "Hey, Andrew. Yes, it's been an unbelievable market. When you think that the stock markets have crashed more than 30%, investors are pulling their hair out, and most expert advisors or robots have blown accounts, but we are heading for one of the best trading months ever." Just come through here this morning from a client of mine who's been with me since 2012 in Ireland. So it just shows what can be done.
Trader joins after 6 years
Now, the other extreme of that is I had a client join me just yesterday from the UK who has been following me for six years, never quite pulled the trigger. Always been interested and never quite got there. Now he came to me and he said, "Do you know after all these years, things are getting so bad over there," over here for him, over there in the UK. He said to me, "Do you know, Andrew, I have to do this. I have to take control of my finances, and no better time than right now, because I've been told by my employers that I'm in self-isolation, work from home type of thing."
So what a great opportunity. Good on him for doing that. And it just shows if you have that thought process, that mentality of what is happening right now, all this utter chaos and panic and everything else that's going on … If you ha...]]>https://theforextradingcoach.com/?p=12449Sun, 22 Mar 2020 11:26:44 +0000Andrew Mitchem Podcast: If You Don’t Trade Forex Now, You Never Will In this video: 00:24 – The world has gone mad 00:36 – Traditional investing is not working 01:00 – Why we trade the Forex market 01:21 – You need to be trading right now 01:57 – Email...Podcast:

If You Don’t Trade Forex Now, You Never Will
In this video:
00:24 – The world has gone mad
00:36 – Traditional investing is not working
01:00 – Why we trade the Forex market
01:21 – You need to be trading right now
01:57 – Email from a client from Ireland
02:24 – Trader joins after 6 years
03:35 – It’s now or never
If you don't start trading the Forex market in these current conditions, you probably never will. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, owner of The Forex Trading Coach with video and podcast number 358.
The world has gone mad
Okay, so it's official. The world's gone mad. Everything's in utter chaos. Everybody's shut down. No one can go anywhere. It's all doom and gloom. Or is it?
Traditional investing is not working
So obviously, with the traditional markets, the stocks, the shares, everything's falling, everything's crashing. Property may well do the same. Interest rates are zero everywhere. And the traditional routes of investing are not particularly good right now. Everybody's locked up at home, self-isolation. Everybody's all depressed.
Why we trade the Forex market
But the good news is, and one of the reasons why we trade the Forex market, is because what happens in all these other markets doesn't really affect the Forex market. Sure, it affects it in terms of the Forex market moves.
But the great thing is, is all we want as far as traders is some volatility, some price actions, some movement. And that is exactly what we have right now.
You need to be trading right now
So if you're not trading the Forex market, you need to be. If you've got any interest in trading the Forex market and you wanted to learn how to do it, now is the time to do it. You're probably stuck at home, can't do too much else. The market is in absolute prime conditions right now for Forex traders to be doing well. We've just had some amazing moves on all currency pairs, so you need to be on this right now, taking advantage of it. And to be honest, these conditions are likely to last for a long, long time. So you've got time. But do it now. Don't delay. Take advantage of it now.
Email from a client from Ireland
I need to read you this email that I've had from a client of mine over in Ireland. "Hey, Andrew. Yes, it's been an unbelievable market. When you think that the stock markets have crashed more than 30%, investors are pulling their hair out, and most expert advisors or robots have blown accounts, but we are heading for one of the best trading months ever." Just come through here this morning from a client of mine who's been with me since 2012 in Ireland. So it just shows what can be done.
Trader joins after 6 years
Now, the other extreme of that is I had a client join me just yesterday from the UK who has been following me for six years, never quite pulled the trigger. Always been interested and never quite got there. Now he came to me and he said, "Do you know after all these years, things are getting so bad over there," over here for him, over there in the UK. He said to me, "Do you know, Andrew, I have to do this. I have to take control of my finances, and no better time than right now, because I've been told by my employers that I'm in self-isolation, work from home type of thing."
So what a great opportunity. Good on him for doing that. And it just shows if you have that thought process, that mentality of what is happening right now, all this utter chaos and panic and everything else that's going on … If you ha...]]>231falsefullhttps://www.spreaker.com/episode/357-are-you-thriving-or-just-surviving--23896615Podcast:

Are You Thriving or Just Surviving?
In this video:
00:33 – Paul Tillman was here in NZ last week
01:12 – How we made profit from the Coronavirus news
02:06 – The stats show that only 5% make good money
03:05 – The system and strategy works in all market conditions
03:35 – What do you need to do in order to become a thriving trader?
05:02 – I’ve re-opened a link for you to follow
06:19 – Shows the results that you can achieve with low risk
As a forex trader, are you thriving or are you just surviving? Let's talk about that and more, right now.
Hey traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 357.
Now, I want to talk about the difference between the very few who are thriving, and the majority who are just surviving in the forex market.
Paul Tillman was here in NZ last week
But first, also want to update you regarding last week's video and podcast where I had Paul Tillman here with me in New Zealand. Now Paul works with me, he's based out of North Carolina in the States and he covers the American live webinars that we hold and also he helps run and moderate our forum site. But it was great to have Paul and his family here for 10 days with my family here in New Zealand and it just goes to show what can be done with trading. We carried on exactly as normal. Paul brought his laptop and things just continued as normal. Another one of those great benefits from trading.
How we made profit from the Coronavirus news
But also on that video and podcast, you'll remember, and if you've not seen it, go and watch it, that we talked about how we profited from the monthly charts by selling the Australian yen and the New Zealand yen at the beginning of February. Now, right now with early part of March and the coronavirus news and the threats and the story is going mad, not so much here in New Zealand, but globally. And the important thing is is that we saw the Japanese yen, particularly the yen strength, but also some strength in the franc and the US way back in at the end of January. And it just shows that if you can read the charts properly and you know what you're doing, how you can profit from that and become one of those thrivers.
The stats show that only 5% make good money
So we know the stats that you hear and see out there, that probably only around 5% of forex traders make good money. And we are one of those, in those groups, of the 5% and we're definitely thrivers because not only have we made good returns from this most recent news event and the strength of the yen and the weakness in the Aussie, the Kiwi and the Canadian especially. Not only is that something that we've done well from recently, but we've done well from all sorts of different events and market conditions for years and years now. I've been trading nearly 16 years, and over that time you kind of go through all the different conditions and news events and political events. Nothing really makes too much of a difference once you know what you're doing.
The system and strategy works in all market conditions
So when people say, "Oh, does your system work in this kind of market condition?" Well, yes, it works in all kinds of conditions because it's proven to have done that over those years. But the problem is, and we find this all the time from emails that we get from people who are struggling out there is unfortunately, 95% of the people are the survivors. And to be honest, most of those people end up giving up because it's just too hard. It's too difficult. It's not working for them.
What do you need to do in order to become a thriving trader?
So really, if you're one of those survivors and you're not a thriver,]]>https://theforextradingcoach.com/?p=12365Sun, 15 Mar 2020 12:03:06 +0000Andrew Mitchem Podcast: Are You Thriving or Just Surviving? In this video: 00:33 – Paul Tillman was here in NZ last week 01:12 – How we made profit from the Coronavirus news 02:06 – The stats show that only 5% make good money 03:05 – The system and strategy...Podcast:

Are You Thriving or Just Surviving?
In this video:
00:33 – Paul Tillman was here in NZ last week
01:12 – How we made profit from the Coronavirus news
02:06 – The stats show that only 5% make good money
03:05 – The system and strategy works in all market conditions
03:35 – What do you need to do in order to become a thriving trader?
05:02 – I’ve re-opened a link for you to follow
06:19 – Shows the results that you can achieve with low risk
As a forex trader, are you thriving or are you just surviving? Let's talk about that and more, right now.
Hey traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 357.
Now, I want to talk about the difference between the very few who are thriving, and the majority who are just surviving in the forex market.
Paul Tillman was here in NZ last week
But first, also want to update you regarding last week's video and podcast where I had Paul Tillman here with me in New Zealand. Now Paul works with me, he's based out of North Carolina in the States and he covers the American live webinars that we hold and also he helps run and moderate our forum site. But it was great to have Paul and his family here for 10 days with my family here in New Zealand and it just goes to show what can be done with trading. We carried on exactly as normal. Paul brought his laptop and things just continued as normal. Another one of those great benefits from trading.
How we made profit from the Coronavirus news
But also on that video and podcast, you'll remember, and if you've not seen it, go and watch it, that we talked about how we profited from the monthly charts by selling the Australian yen and the New Zealand yen at the beginning of February. Now, right now with early part of March and the coronavirus news and the threats and the story is going mad, not so much here in New Zealand, but globally. And the important thing is is that we saw the Japanese yen, particularly the yen strength, but also some strength in the franc and the US way back in at the end of January. And it just shows that if you can read the charts properly and you know what you're doing, how you can profit from that and become one of those thrivers.
The stats show that only 5% make good money
So we know the stats that you hear and see out there, that probably only around 5% of forex traders make good money. And we are one of those, in those groups, of the 5% and we're definitely thrivers because not only have we made good returns from this most recent news event and the strength of the yen and the weakness in the Aussie, the Kiwi and the Canadian especially. Not only is that something that we've done well from recently, but we've done well from all sorts of different events and market conditions for years and years now. I've been trading nearly 16 years, and over that time you kind of go through all the different conditions and news events and political events. Nothing really makes too much of a difference once you know what you're doing.
The system and strategy works in all market conditions
So when people say, "Oh, does your system work in this kind of market condition?" Well, yes, it works in all kinds of conditions because it's proven to have done that over those years. But the problem is, and we find this all the time from emails that we get from people who are struggling out there is unfortunately, 95% of the people are the survivors. And to be honest, most of those people end up giving up because it's just too hard. It's too difficult. It's not working for them.
What do you need to do in order to become a thriving trader?
So really, if you're one of those survivors and you're not a thriver,]]>428falsefullhttps://www.spreaker.com/episode/356-will-the-coronavirus-affect-forex-traders--23640990Podcast:

Will the Coronavirus affect Forex Traders?
In this video:
00:20 – Joined by Paul Tillman from NC, USA
00:40 – Webinars, Trades and the Coronavirus
01:00– Recent webinars and how you can benefit – view the recording
02:45 – Our trading day today
04:13 – Trading with the Coronavirus and how it has affected the charts
05:27 – Monthly chart trades make massive profits with the Yen strength
06:02 – Why we are technical traders and where are the charts heading?
07:20 – Live trading sessions in the UK later in the year
08:50 – Contact us if you are interested in knowing more about our trip to the UK for training
Andrew Mitchem:
Will the Coronavirus affect us as Forex Traders? So let's talk about that and more right now.
Paul Tillman:
Hey traders, it's Andrew Mitchem here, The Forex Trading Coach, video and podcast number 356 and I'm joined by Paul Tillman here.
Joined by Paul Tillman from NC, USA
Paul Tillman:
Hello everybody. All the way from North Carolina here in Nelson, New Zealand. Good to be with you today.
Andrew Mitchem:
So Paul's been over here for the last 10 days with me and with his wife and two children having a great time here in New Zealand, showing them the sights and the sands. Now a number of things we want to talk about on this video.
Webinars, Trades and the Coronavirus
Number one about some webinars that we held recently, and how we can help traders with trading information and there's a link here also to the webinars that we held, and also want to share a few trades that we've taken recently and lastly, we want to talk about the coronavirus and how it's already affected trading, and what it's likely to do in the future.
Recent webinars and how you can benefit – view the recording
Andrew Mitchem:
So Paul, let's start at the first thing, the webinars we held just last week. Maybe you could just describe what we did and how it went and how people can benefit from that information using the links that are below this video.
Paul Tillman:
Absolutely. So we took lots of questions and emails and basically got it down to a few categories of what traders are having issues with or if you're brand new experience, and they came down to trading psychology, not having a strategy, some things that brokers and indicators or, "I've done okay, but I'm giving away too much money, I'm losing." And so we took all of those and we just talked about them. What we've seen in our course, what we've seen as 15, 20 plus years together have trading experience. And we took each topic and talked about it at length and it went very well.
Paul Tillman:
Kind of help sate solve those problems with the questions and answers and things and why we have a strategy and psychology and all these different things, and we're part of those 5% of traders that are actually profitable and not part of the 95% that end up failing.
Andrew Mitchem:
Absolutely. And I think the thing that came through from it is, it was practical information. It was realistic, practical information that we use as traders every day that our clients use, and we're passing on that information for other people to use.
Paul Tillman:
Absolutely. Yeah. We've got clients in 50 plus countries, who do well with our forum site and our webinars and our daily trades, and just being consistently profitable, which is the number one problem. The number one goal that people want to have as Forex traders.
Our trading day today
Andrew Mitchem:
Absolutely is all we're after. And the other thing that was important that came out of that is that maybe you just describe our morning so far today,]]>https://theforextradingcoach.com/?p=12346Sun, 08 Mar 2020 12:40:59 +0000Andrew Mitchem Podcast: Will the Coronavirus affect Forex Traders? In this video: 00:20 – Joined by Paul Tillman from NC, USA 00:40 – Webinars, Trades and the Coronavirus 01:00– Recent webinars and how you can benefit – view the recording 02:45 – Our...Podcast:

Will the Coronavirus affect Forex Traders?
In this video:
00:20 – Joined by Paul Tillman from NC, USA
00:40 – Webinars, Trades and the Coronavirus
01:00– Recent webinars and how you can benefit – view the recording
02:45 – Our trading day today
04:13 – Trading with the Coronavirus and how it has affected the charts
05:27 – Monthly chart trades make massive profits with the Yen strength
06:02 – Why we are technical traders and where are the charts heading?
07:20 – Live trading sessions in the UK later in the year
08:50 – Contact us if you are interested in knowing more about our trip to the UK for training
Andrew Mitchem:
Will the Coronavirus affect us as Forex Traders? So let's talk about that and more right now.
Paul Tillman:
Hey traders, it's Andrew Mitchem here, The Forex Trading Coach, video and podcast number 356 and I'm joined by Paul Tillman here.
Joined by Paul Tillman from NC, USA
Paul Tillman:
Hello everybody. All the way from North Carolina here in Nelson, New Zealand. Good to be with you today.
Andrew Mitchem:
So Paul's been over here for the last 10 days with me and with his wife and two children having a great time here in New Zealand, showing them the sights and the sands. Now a number of things we want to talk about on this video.
Webinars, Trades and the Coronavirus
Number one about some webinars that we held recently, and how we can help traders with trading information and there's a link here also to the webinars that we held, and also want to share a few trades that we've taken recently and lastly, we want to talk about the coronavirus and how it's already affected trading, and what it's likely to do in the future.
Recent webinars and how you can benefit – view the recording
Andrew Mitchem:
So Paul, let's start at the first thing, the webinars we held just last week. Maybe you could just describe what we did and how it went and how people can benefit from that information using the links that are below this video.
Paul Tillman:
Absolutely. So we took lots of questions and emails and basically got it down to a few categories of what traders are having issues with or if you're brand new experience, and they came down to trading psychology, not having a strategy, some things that brokers and indicators or, "I've done okay, but I'm giving away too much money, I'm losing." And so we took all of those and we just talked about them. What we've seen in our course, what we've seen as 15, 20 plus years together have trading experience. And we took each topic and talked about it at length and it went very well.
Paul Tillman:
Kind of help sate solve those problems with the questions and answers and things and why we have a strategy and psychology and all these different things, and we're part of those 5% of traders that are actually profitable and not part of the 95% that end up failing.
Andrew Mitchem:
Absolutely. And I think the thing that came through from it is, it was practical information. It was realistic, practical information that we use as traders every day that our clients use, and we're passing on that information for other people to use.
Paul Tillman:
Absolutely. Yeah. We've got clients in 50 plus countries, who do well with our forum site and our webinars and our daily trades, and just being consistently profitable, which is the number one problem. The number one goal that people want to have as Forex traders.
Our trading day today
Andrew Mitchem:
Absolutely is all we're after. And the other thing that was important that came out of that is that maybe you just describe our morning so far today,]]>572falsefullhttps://www.spreaker.com/episode/355-what-does-your-trading-day-look-like--23354023Podcast:

What Does Your Trading Day Look Like
In this video:
00:25 – How to structure your trading day
01:06 – You’re not going to be a full-time trader immediately
01:46 – Fit your trading around your current situation
02:10 – My trading day
03:45 – Looking at different time frame charts
04:32 – Looking at the changeover of different time frame charts
05:16 – Live trades on live webinars. Trade hit profit
06:15 – Trading in 30 minutes a day
What does your trading day look like? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach. Welcome to video and podcast number 355.
How to structure your trading day
I want to answer a question that I get asked quite a lot about, how somebody should structure their trading day and also what does my personal trading day look like? So let's talk about that because it's really important that as a trader you have a plan, you have a structure and that you have a routine. Why? Well, because you never really know what the market's going to do and you need to be there… In my opinion, you need to be looking at the same type of charts and the same time of day as often as you can. And that just gives you consistency over time and you get to understand how the market works and its characteristics, et cetera. And now, obviously we're trading, to do it properly you've got to enjoy it.
You’re not going to be a full-time trader immediately
Now for most people, realistically, you're not going to be a full time trader, at least to start with. You're going to have other commitments, family, jobs, sport, music, whatever it might be. And the problem is, is that right now there seems to be a bit of a movement around the so called sort of work hard lifestyle kind of gurus out there. And they're sort of getting into this, you've got to keep going, going, going, going, going, go to work sort of 12, 14, 16 hour weeks, just got to keep going, and going, and going.
The problem is for those people that do that, first of all there's no fun and secondly is, how on earth do you fit something new in like trading around that?
Fit your trading around your current situation
So for me it's almost flip it the other way around. You've got to make the trading fit in around what you're currently doing, especially if you're not trading full time to start with. So for me personally, I think that less is more. I've always thought in terms of trading less is more. The less you interfere with the trade, the better you do. The less time you're staring at your screen and your charts the better you do. And that has just been a proven case.
My trading day
So to give you an idea of how I structure my day, and bear in mind I'm in New Zealand, which is on a completely different time zone to most other countries around the world, is that you need to sort of base yourself on the New York time as well. So wherever you live in the world make that kind of adjustment. So for me, I wake up about six o'clock in the morning, kids are off to school by about quarter past seven and from then on I have a quick look at the charts about what's happened over night my time into the later European session, and the US session. Getting an idea of what's happened to my open positions, have they made profit or loss, just have a quick scan through the market. And then at around 10:30 my time, which is just before the 11 o'clock change over of the daily charts, I'll then have a more serious look at what's happening in the market.
So that is based on the 5:00 PM Eastern Standard Time, New York close of day. So around 4:30 PM Eastern Standard, which for me is the next day at 10:30 AM,]]>https://theforextradingcoach.com/?p=12338Sun, 01 Mar 2020 11:53:24 +0000Andrew Mitchem Podcast: What Does Your Trading Day Look Like In this video: 00:25 – How to structure your trading day 01:06 – You’re not going to be a full-time trader immediately 01:46 – Fit your trading around your current situation 02:10 – My trading day...Podcast:

What Does Your Trading Day Look Like
In this video:
00:25 – How to structure your trading day
01:06 – You’re not going to be a full-time trader immediately
01:46 – Fit your trading around your current situation
02:10 – My trading day
03:45 – Looking at different time frame charts
04:32 – Looking at the changeover of different time frame charts
05:16 – Live trades on live webinars. Trade hit profit
06:15 – Trading in 30 minutes a day
What does your trading day look like? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach. Welcome to video and podcast number 355.
How to structure your trading day
I want to answer a question that I get asked quite a lot about, how somebody should structure their trading day and also what does my personal trading day look like? So let's talk about that because it's really important that as a trader you have a plan, you have a structure and that you have a routine. Why? Well, because you never really know what the market's going to do and you need to be there… In my opinion, you need to be looking at the same type of charts and the same time of day as often as you can. And that just gives you consistency over time and you get to understand how the market works and its characteristics, et cetera. And now, obviously we're trading, to do it properly you've got to enjoy it.
You’re not going to be a full-time trader immediately
Now for most people, realistically, you're not going to be a full time trader, at least to start with. You're going to have other commitments, family, jobs, sport, music, whatever it might be. And the problem is, is that right now there seems to be a bit of a movement around the so called sort of work hard lifestyle kind of gurus out there. And they're sort of getting into this, you've got to keep going, going, going, going, going, go to work sort of 12, 14, 16 hour weeks, just got to keep going, and going, and going.
The problem is for those people that do that, first of all there's no fun and secondly is, how on earth do you fit something new in like trading around that?
Fit your trading around your current situation
So for me it's almost flip it the other way around. You've got to make the trading fit in around what you're currently doing, especially if you're not trading full time to start with. So for me personally, I think that less is more. I've always thought in terms of trading less is more. The less you interfere with the trade, the better you do. The less time you're staring at your screen and your charts the better you do. And that has just been a proven case.
My trading day
So to give you an idea of how I structure my day, and bear in mind I'm in New Zealand, which is on a completely different time zone to most other countries around the world, is that you need to sort of base yourself on the New York time as well. So wherever you live in the world make that kind of adjustment. So for me, I wake up about six o'clock in the morning, kids are off to school by about quarter past seven and from then on I have a quick look at the charts about what's happened over night my time into the later European session, and the US session. Getting an idea of what's happened to my open positions, have they made profit or loss, just have a quick scan through the market. And then at around 10:30 my time, which is just before the 11 o'clock change over of the daily charts, I'll then have a more serious look at what's happening in the market.
So that is based on the 5:00 PM Eastern Standard Time, New York close of day. So around 4:30 PM Eastern Standard, which for me is the next day at 10:30 AM,]]>428falsefullhttps://www.spreaker.com/episode/354-we-can-help-shortcut-your-learning-process--23100413Podcast:

We can help shortcut your learning process
In this video:
00:31 – Information overload online
01:11 – 2 live webinars this week for you to attend
01:39 – Paul Tillman will be joining me in New Zealand for the webinars
02:59 – Paul now works with me at TFTC
03:24 – Webinars to help you with your biggest trading problem
04:54 – 2 trades taken live on client’s webinar – both hit their profit target
Let us help shortcut your learning process and make your trading profitable, very quickly. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach and welcome to video and podcast number 354.
So in this video and podcast I've got some very, very exciting information to share with you.
Information overload online
You see, when you look at it online, there are thousands of Forex experts. There's lots of information, information overload, analysis paralysis, call it what you like. There's just so much out there. The problem is in reality most of it's not good. And what we want to do for you is to help kickstart your trading into gear. Basically get it moving, making it profitable and making it doing that without much stress on your behalf with little time used up and making it practical, making it real, making it profitable and consistent with low risk. All those things that as a trader you should be looking for.
2 live webinars this week for you to attend
So we're going to be holding a couple of webinars this week and by the time you watch this video you'll be, it'll be this week. Friday right now as I'm recording this, you will see this on Monday, so the webinars will be on Wednesday and Thursday. There are two of them. There'll be a link on this page where you can choose which one that best suits you. You're welcome to attend both if you wish to. They are going to be live, but an extra special twist is this.
Paul Tillman will be joining me in New Zealand for the webinars
So I'm going to be joined right here at my desk in my office at home here in Nelson, in New Zealand, by Paul Tillman. Now if you don't know Paul, he works with me here at the Forex Trading Coach and Paul is based in North Carolina over in the U.S.
And Paul started trading Forex 14 years ago. He went through everything that most people have been through. He's been through the online stuff. He's been through the physical courses. He's wasted money, frustration. Courses weren't delivered properly, promises broken, all that type of thing. And then in 2015 he gave it one last shot. I was actually in India of all places at the time. And I wrote back to Paul from my hotel room in India to say, "Hey look, I'm on holiday in India, but this is what I can help you with right now. And when I get back next week I'll send you some more information." And so as a result of that, back in 2015 Paul decided to join our course. And over the next few months he really got into the course. He understood it. It clicked with him. It worked. And he was attending live European session webinars, getting up early hours in the morning for him over in the U.S. But then over time he was developing into a really, really good trader, lots of good results, consistency, reliability, all those types of things.
Paul now works with me at TFTC
And then a couple of years later I decided to offer Paul a position and now he runs my forum site and my U.S. webinars and we trade together. So we have a fantastic relationship. Now when you get this video on podcast on Monday, Paul will be with me right here. He's on his way to New Zealand and with his wife and two children for them to ...]]>https://theforextradingcoach.com/?p=12319Sun, 23 Feb 2020 12:20:35 +0000Andrew Mitchem Podcast: We can help shortcut your learning process In this video: 00:31 – Information overload online 01:11 – 2 live webinars this week for you to attend 01:39 – Paul Tillman will be joining me in New Zealand for the webinars 02:59 – Paul now...Podcast:

We can help shortcut your learning process
In this video:
00:31 – Information overload online
01:11 – 2 live webinars this week for you to attend
01:39 – Paul Tillman will be joining me in New Zealand for the webinars
02:59 – Paul now works with me at TFTC
03:24 – Webinars to help you with your biggest trading problem
04:54 – 2 trades taken live on client’s webinar – both hit their profit target
Let us help shortcut your learning process and make your trading profitable, very quickly. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach and welcome to video and podcast number 354.
So in this video and podcast I've got some very, very exciting information to share with you.
Information overload online
You see, when you look at it online, there are thousands of Forex experts. There's lots of information, information overload, analysis paralysis, call it what you like. There's just so much out there. The problem is in reality most of it's not good. And what we want to do for you is to help kickstart your trading into gear. Basically get it moving, making it profitable and making it doing that without much stress on your behalf with little time used up and making it practical, making it real, making it profitable and consistent with low risk. All those things that as a trader you should be looking for.
2 live webinars this week for you to attend
So we're going to be holding a couple of webinars this week and by the time you watch this video you'll be, it'll be this week. Friday right now as I'm recording this, you will see this on Monday, so the webinars will be on Wednesday and Thursday. There are two of them. There'll be a link on this page where you can choose which one that best suits you. You're welcome to attend both if you wish to. They are going to be live, but an extra special twist is this.
Paul Tillman will be joining me in New Zealand for the webinars
So I'm going to be joined right here at my desk in my office at home here in Nelson, in New Zealand, by Paul Tillman. Now if you don't know Paul, he works with me here at the Forex Trading Coach and Paul is based in North Carolina over in the U.S.
And Paul started trading Forex 14 years ago. He went through everything that most people have been through. He's been through the online stuff. He's been through the physical courses. He's wasted money, frustration. Courses weren't delivered properly, promises broken, all that type of thing. And then in 2015 he gave it one last shot. I was actually in India of all places at the time. And I wrote back to Paul from my hotel room in India to say, "Hey look, I'm on holiday in India, but this is what I can help you with right now. And when I get back next week I'll send you some more information." And so as a result of that, back in 2015 Paul decided to join our course. And over the next few months he really got into the course. He understood it. It clicked with him. It worked. And he was attending live European session webinars, getting up early hours in the morning for him over in the U.S. But then over time he was developing into a really, really good trader, lots of good results, consistency, reliability, all those types of things.
Paul now works with me at TFTC
And then a couple of years later I decided to offer Paul a position and now he runs my forum site and my U.S. webinars and we trade together. So we have a fantastic relationship. Now when you get this video on podcast on Monday, Paul will be with me right here. He's on his way to New Zealand and with his wife and two children for them to ...]]>356falsefullhttps://www.spreaker.com/episode/353-don-t-try-to-become-an-overnight-forex-millionaire--22840933Podcast:

Don’t try to become an overnight Forex millionaire
In this video:
00:25 – 2 parts to this week’s video
00:49 – People think they are going to become an overnight millionaire
02:00 – Too many assumptions
02:42 – Trade like a builder
04:25 – I’m holding 2 live webinars in person with Paul Tillman
05:25 – Register your interest for one of the webinars
Don't try to become an overnight Forex millionaire. It's not going to happen. Let's talk about that and more right now.
Hey, Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 353.
2 parts to this week’s video
Two parts to this video and podcast this week. The first is all about the subject title about making sure that you try not to become an overnight millionaire. The second part is all about two very exciting webinars that I'm going to be holding shortly and I'd like to invite you to attend one or both of those. More about that soon. So let's go back to the first part.
People think they are going to become an overnight millionaire
A big misconception with people getting into the Forex market is they think they're going to become overnight millionaires. It is not going to happen. I can promise you that. It will not happen. The downside is, is that when you look online, you see flashy cars and people on beaches, all that type of thing. You've seen it everywhere and people get into trading thinking that their results are going to be instantly amazing. And look, I did it myself years ago. I used to go for walks, taking my kids in the pram or the stroller for a walk, just thinking in my head about compounding and multiplying figures and how much I was going to make.
But at that stage I was only on a smaller, like I think a $10,000 live account. But in my head, I was multiplying up this and if I take this crossing over that line and I'm going to make all this money and by the end of the month I'll have this. You see the problem is that people think they're going to become massively successful through trading, yet they've not even taken a handful of really good successful trades yet.
Too many assumptions
The other problem with that is you're assuming a straight line. You're assuming you're always going to be profitable and most people when they make the assumptions like that, and they're assuming they're not taking any money out for living purposes, and also they're assuming that they are risking far too much. Whereas in reality, you should be risking far less than most people place there on their trades.
The problem is that people with that emotion, when they don't see that happening in real time, is they get despondent, blame the system, blame the market, blame the broker and you know, give up. You get the picture.
Trade like a builder
So think of it this way. Look at say like being a builder. If you start and you've got no building knowledge whatsoever but you want to become a builder, whether you're young kid leaving school or whatever age you might be, I want to become a builder. So what do you have to do?
Well everybody has to start at the beginning. You may have to do some form of course qualification, a practical course, written course, and then you start as an apprentice. You start with the hammer and the nails and you're making the teas and the coffees and you're doing all that basic groundwork to understand the basics of what it is that goes on with on a building site. Then you build up and you might get more responsibility and you start looking at plans and understanding things and making orders for different parts and cutting and joining and working with other industries, like the plumbers, electricians, the concrete guys, all that type of thing, the roofers. It just goes on from there.
Then over time you become like the lead builder, the head man,]]>https://theforextradingcoach.com/?p=12260Sun, 16 Feb 2020 14:38:07 +0000Andrew Mitchem Podcast: Don’t try to become an overnight Forex millionaire In this video: 00:25 – 2 parts to this week’s video 00:49 – People think they are going to become an overnight millionaire 02:00 – Too many assumptions 02:42 – Trade like a builder...Podcast:

Don’t try to become an overnight Forex millionaire
In this video:
00:25 – 2 parts to this week’s video
00:49 – People think they are going to become an overnight millionaire
02:00 – Too many assumptions
02:42 – Trade like a builder
04:25 – I’m holding 2 live webinars in person with Paul Tillman
05:25 – Register your interest for one of the webinars
Don't try to become an overnight Forex millionaire. It's not going to happen. Let's talk about that and more right now.
Hey, Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 353.
2 parts to this week’s video
Two parts to this video and podcast this week. The first is all about the subject title about making sure that you try not to become an overnight millionaire. The second part is all about two very exciting webinars that I'm going to be holding shortly and I'd like to invite you to attend one or both of those. More about that soon. So let's go back to the first part.
People think they are going to become an overnight millionaire
A big misconception with people getting into the Forex market is they think they're going to become overnight millionaires. It is not going to happen. I can promise you that. It will not happen. The downside is, is that when you look online, you see flashy cars and people on beaches, all that type of thing. You've seen it everywhere and people get into trading thinking that their results are going to be instantly amazing. And look, I did it myself years ago. I used to go for walks, taking my kids in the pram or the stroller for a walk, just thinking in my head about compounding and multiplying figures and how much I was going to make.
But at that stage I was only on a smaller, like I think a $10,000 live account. But in my head, I was multiplying up this and if I take this crossing over that line and I'm going to make all this money and by the end of the month I'll have this. You see the problem is that people think they're going to become massively successful through trading, yet they've not even taken a handful of really good successful trades yet.
Too many assumptions
The other problem with that is you're assuming a straight line. You're assuming you're always going to be profitable and most people when they make the assumptions like that, and they're assuming they're not taking any money out for living purposes, and also they're assuming that they are risking far too much. Whereas in reality, you should be risking far less than most people place there on their trades.
The problem is that people with that emotion, when they don't see that happening in real time, is they get despondent, blame the system, blame the market, blame the broker and you know, give up. You get the picture.
Trade like a builder
So think of it this way. Look at say like being a builder. If you start and you've got no building knowledge whatsoever but you want to become a builder, whether you're young kid leaving school or whatever age you might be, I want to become a builder. So what do you have to do?
Well everybody has to start at the beginning. You may have to do some form of course qualification, a practical course, written course, and then you start as an apprentice. You start with the hammer and the nails and you're making the teas and the coffees and you're doing all that basic groundwork to understand the basics of what it is that goes on with on a building site. Then you build up and you might get more responsibility and you start looking at plans and understanding things and making orders for different parts and cutting and joining and working with other industries, like the plumbers, electricians, the concrete guys, all that type of thing, the roofers. It just goes on from there.
Then over time you become like the lead builder, the head man,]]>445falsefullhttps://www.spreaker.com/episode/352-how-trading-with-the-trend-will-help-your-results--22584173Podcast:

How Trading with the Trend will help your Results
In this video:
00:27 – The trend is your friend
01:02 – Looking at the bigger picture
02:15 – Eliminating pairs to trade
03:17 – Helps you to focus on the best likely pairs
03:58 – Looking for continuation patterns
04:27 – Link to the Forex Course
Why trading with the trend can really help improve your trading results. Let's talk about that and more right now.
Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 352.
The trend is your friend
Now, you've probably heard people say, "Trade with the trend," or, "The trend is your friend. Stay away from range-bound markets," all those kinds of things. The problem is, is how do you actually do that. How do you know that the market's trending? And do you only know it's trending when it's too late and it's already done that trend, and time you jump in, the market's then going flat again? So there's a lot of problems there about practically trading something that, in theory, sounds really, really simple and common sense to do. So I'll explain what we do regarding that to help us profit from the market.
Looking at the bigger picture
So we teach our clients how to look at the bigger picture of how to look at the weekly charts. Now, each week on the membership site, and we've done this for years, we publish the currency pairs, the Forex pairs that are likely to be bullish through that week and the currency pairs that are likely to be bearish, or heading down for that week. Now, it does a number of really good and important things on a practical basis. One, it allows us and our clients to see where the likely bigger picture is for that pair for that week. And so when you're trading on shorter time frame charts of daily charts or sort of smaller again, 12-hour charts or even four-hour charts, one-hour charts, it helps you to look for currency trade setups on that pair that are likely to be in the direction of that bigger picture, that weekly direction.
And what that does is it gives you the ability to trade a pair that is likely to move and in the same direction. So it stands to reason that you add more and more probabilities together with your trade, and of course you still want the good setup, first of all. You're putting all those things together and you're giving yourself more and more chance and probability of that being a good trade.
Eliminating pairs to trade
The second thing that it does is it eliminates a whole group of currency pairs for that week, because if we're looking at pairs that are likely to show indecision or not moving very much, or they're two strong currencies or two weak currencies, therefore we don't know which way it's likely to be moving for that week. What it does is it allows you to focus less on those currencies, or not at all for that particular week. So it actually really focuses your trading to a select group of currencies for that week and it helps you to stay away from those trades or those currencies that are likely to be range-bound or not move much in any particular direction.
So it has a double, like a two-fold benefit to your trading. One focus on which currencies are likely to be moving and in their direction; number two, these currencies are not likely to be moving much, so let's stay from them or let's not take a trade on them unless we see an exceptionally good setup. So double benefits for you there.
Helps you to focus on the best likely pairs
And it helps you to focus, it helps you to really narrow down and fine tune your trading. Because don't forget that trading, after all, is about probability. Nothing is absolute. Just because we say the Euro/US dollar, for example, is going to be bullish this week, nothing to say that's going to happen.]]>https://theforextradingcoach.com/?p=12210Sun, 09 Feb 2020 14:17:23 +0000Andrew Mitchem Podcast: How Trading with the Trend will help your Results In this video: 00:27 – The trend is your friend 01:02 – Looking at the bigger picture 02:15 – Eliminating pairs to trade 03:17 – Helps you to focus on the best likely pairs 03:58 –...Podcast:

How Trading with the Trend will help your Results
In this video:
00:27 – The trend is your friend
01:02 – Looking at the bigger picture
02:15 – Eliminating pairs to trade
03:17 – Helps you to focus on the best likely pairs
03:58 – Looking for continuation patterns
04:27 – Link to the Forex Course
Why trading with the trend can really help improve your trading results. Let's talk about that and more right now.
Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 352.
The trend is your friend
Now, you've probably heard people say, "Trade with the trend," or, "The trend is your friend. Stay away from range-bound markets," all those kinds of things. The problem is, is how do you actually do that. How do you know that the market's trending? And do you only know it's trending when it's too late and it's already done that trend, and time you jump in, the market's then going flat again? So there's a lot of problems there about practically trading something that, in theory, sounds really, really simple and common sense to do. So I'll explain what we do regarding that to help us profit from the market.
Looking at the bigger picture
So we teach our clients how to look at the bigger picture of how to look at the weekly charts. Now, each week on the membership site, and we've done this for years, we publish the currency pairs, the Forex pairs that are likely to be bullish through that week and the currency pairs that are likely to be bearish, or heading down for that week. Now, it does a number of really good and important things on a practical basis. One, it allows us and our clients to see where the likely bigger picture is for that pair for that week. And so when you're trading on shorter time frame charts of daily charts or sort of smaller again, 12-hour charts or even four-hour charts, one-hour charts, it helps you to look for currency trade setups on that pair that are likely to be in the direction of that bigger picture, that weekly direction.
And what that does is it gives you the ability to trade a pair that is likely to move and in the same direction. So it stands to reason that you add more and more probabilities together with your trade, and of course you still want the good setup, first of all. You're putting all those things together and you're giving yourself more and more chance and probability of that being a good trade.
Eliminating pairs to trade
The second thing that it does is it eliminates a whole group of currency pairs for that week, because if we're looking at pairs that are likely to show indecision or not moving very much, or they're two strong currencies or two weak currencies, therefore we don't know which way it's likely to be moving for that week. What it does is it allows you to focus less on those currencies, or not at all for that particular week. So it actually really focuses your trading to a select group of currencies for that week and it helps you to stay away from those trades or those currencies that are likely to be range-bound or not move much in any particular direction.
So it has a double, like a two-fold benefit to your trading. One focus on which currencies are likely to be moving and in their direction; number two, these currencies are not likely to be moving much, so let's stay from them or let's not take a trade on them unless we see an exceptionally good setup. So double benefits for you there.
Helps you to focus on the best likely pairs
And it helps you to focus, it helps you to really narrow down and fine tune your trading. Because don't forget that trading, after all, is about probability. Nothing is absolute. Just because we say the Euro/US dollar, for example, is going to be bullish this week, nothing to say that's going to happen.]]>295falsefullhttps://www.spreaker.com/episode/351-it-s-your-trading-results-that-count--22334125Podcast:

It’s Your Trading Results that Count
In this video:
00:23 – We trade to achieve results
01:22 – Why do so few make money from trading
02:02 – We have a very high percentage of successful traders at TFTC
02:54 – 2 recent clients results
05:00 – How you can also achieve results like this
As a trader, it's the results that really count. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 351.
We trade to achieve results
So, why do we trade? Well, ultimately we're all after results, aren't we? That's why we do it. That's why you learn something. That's why we're learning how to trade. It's why we're taking trades. We're sitting at the computer. We are educating ourselves, all for the end goal of making money and being able to trade and to get results. And that's really what counts. Unfortunately for most people, they don't get to achieve the results that they want. And the vast majority of people, if you believe the stats out there, lose money when they trade Forex. There's a whole group of people that might make a little bit, or lose a little bit, and get basically going round in circles, getting nowhere. And then there's the few, the elite people who, and I mean the elite, as in just a very small number. Not elite as in particularly any fantastic as a person better, but just the ability to trade well. And a very small percentage get to that level.
Why do so few make money from trading
And why is that? Well, there's a lot of reasons. A lot of people, it's lacking of a strategy and an understanding, and lacking an understanding of risk. Because when you mention someone's percentage return, or if you want to measure in pips, which I suggest you don't do, but whether you're mentioning pips or percentage return, a lot of people get too carried away. And there's far too many people out there looking at making stupid amounts of gain, or they think they're going to, or they think they should, but they never understand the risk involved to get there. And it's really important that you understand that.
We have a very high percentage of successful traders at TFTC
So, here at the Forex Trading Coach, we are very fortunate because we have an incredibly high percentage of successful traders. And it's not hard to see why. First of all, we've got the strategy that works, and the low risk, and the high reward to risk, and the good people teaching, and helping out, and consistency, all those things.
But with our daily trades, you can't fail to make money because, at the very least, if you just copied what we do every day, you're going to make money anyway. But on top of that, we're not just about a copying service, we're about teaching people to better themselves, teaching people to learn how to trade, a really straightforward, low time consuming, low risk, easy to trade system and strategy. And we're about teaching people and educating people to do that for themselves as independent traders.
2 recent clients results
Now, I had just yesterday, two people wrote to me. One is called Brian, he lives up in Auckland here in New Zealand. And Brian said to me, Andrew I've made in the first month since I've been with you, 13.25% trading the daily charts, the 12 hours, and the six hours, and a few four hour charts. 13.25% in his first month.
And Brian said that he's relatively new to trading, and he's absolutely ecstatic with those results. And the great thing is being a new trader, he's come in and look at the system from no knowledge at all. Learned what we've got, how we're doing it, applying it, it's working. No surprises really there. But it's great to see it happen in reality. And also received just yesterday, an email from Michael over in Dublin in Ireland. And Michael has been with us for about 13 months. And Michael said,]]>https://theforextradingcoach.com/?p=12186Sun, 02 Feb 2020 12:28:18 +0000Andrew Mitchem Podcast: It’s Your Trading Results that Count In this video: 00:23 – We trade to achieve results 01:22 – Why do so few make money from trading 02:02 – We have a very high percentage of successful traders at TFTC 02:54 – 2 recent clients results...Podcast:

It’s Your Trading Results that Count
In this video:
00:23 – We trade to achieve results
01:22 – Why do so few make money from trading
02:02 – We have a very high percentage of successful traders at TFTC
02:54 – 2 recent clients results
05:00 – How you can also achieve results like this
As a trader, it's the results that really count. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 351.
We trade to achieve results
So, why do we trade? Well, ultimately we're all after results, aren't we? That's why we do it. That's why you learn something. That's why we're learning how to trade. It's why we're taking trades. We're sitting at the computer. We are educating ourselves, all for the end goal of making money and being able to trade and to get results. And that's really what counts. Unfortunately for most people, they don't get to achieve the results that they want. And the vast majority of people, if you believe the stats out there, lose money when they trade Forex. There's a whole group of people that might make a little bit, or lose a little bit, and get basically going round in circles, getting nowhere. And then there's the few, the elite people who, and I mean the elite, as in just a very small number. Not elite as in particularly any fantastic as a person better, but just the ability to trade well. And a very small percentage get to that level.
Why do so few make money from trading
And why is that? Well, there's a lot of reasons. A lot of people, it's lacking of a strategy and an understanding, and lacking an understanding of risk. Because when you mention someone's percentage return, or if you want to measure in pips, which I suggest you don't do, but whether you're mentioning pips or percentage return, a lot of people get too carried away. And there's far too many people out there looking at making stupid amounts of gain, or they think they're going to, or they think they should, but they never understand the risk involved to get there. And it's really important that you understand that.
We have a very high percentage of successful traders at TFTC
So, here at the Forex Trading Coach, we are very fortunate because we have an incredibly high percentage of successful traders. And it's not hard to see why. First of all, we've got the strategy that works, and the low risk, and the high reward to risk, and the good people teaching, and helping out, and consistency, all those things.
But with our daily trades, you can't fail to make money because, at the very least, if you just copied what we do every day, you're going to make money anyway. But on top of that, we're not just about a copying service, we're about teaching people to better themselves, teaching people to learn how to trade, a really straightforward, low time consuming, low risk, easy to trade system and strategy. And we're about teaching people and educating people to do that for themselves as independent traders.
2 recent clients results
Now, I had just yesterday, two people wrote to me. One is called Brian, he lives up in Auckland here in New Zealand. And Brian said to me, Andrew I've made in the first month since I've been with you, 13.25% trading the daily charts, the 12 hours, and the six hours, and a few four hour charts. 13.25% in his first month.
And Brian said that he's relatively new to trading, and he's absolutely ecstatic with those results. And the great thing is being a new trader, he's come in and look at the system from no knowledge at all. Learned what we've got, how we're doing it, applying it, it's working. No surprises really there. But it's great to see it happen in reality. And also received just yesterday, an email from Michael over in Dublin in Ireland. And Michael has been with us for about 13 months. And Michael said,]]>348falsefullhttps://www.spreaker.com/episode/350-what-makes-us-different-at-tftc--22086675
What Makes Us Different at TFTC?
In this video:
00:29 – So you want to become a Forex trader
01:00 – New or Frustrated Trader
02:16 – We address the real issues
03:03 – Trade in a few minutes a day
03:45 – Trade off the close of a candle
04:28 – The opportunity to follow us
05:45 – Trades posted on our Forum site and on our Live Webinars
07:00 – Trading software, Support and the Strategy
07:18 – Free Trading Information for you
What makes us different here at the Forex Trading Coach? Let's talk about that and more right now.
Hey, traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach. This is video and podcast number 350, and I want to talk about us here at the Forex Trading Coach, how we can help you.
So you want to become a Forex trader
But what makes us different? So you want to become a forex trader. Now, you can go online. You can probably look locally around you, and you will find there are courses, there are coaches, there are systems, there are strategies, there are robots, there are books, there are… Everything to do with forex trading is online.
The problem is, from your point of view, is how do you know which is good and which is not good, what works, what doesn't work?
New or Frustrated Trader
You see, as a forex trader, you're going to be in one or two different situations. If you're new, you're looking online and it probably all looks quite exciting right now, but also, it will start to lead to confusion because where do you go? How do you know what's good or what isn't good? Because, to start with, it all looks kind of good because it's all new, and you kind of believe everything that's out there.
If you're a experienced trader, well, you're into that frustration time. You've been through and you've tried different systems, and you bought robots and book courses. You've bought strategies. You've done coaching sessions. You may even have been physically to somewhere in your area or travelled to do some coaching. But the problem is, although it probably looked okay, it doesn't work. And now you're still in that same reoccurring cycle of a bit of hope, pay some money, it doesn't work, find the next thing, a bit of hope, pay some money, it doesn't work, and you keep going until you either run out of money, give up, frustrated, someone tells you you're silly for keeping trying, or you try your own ideas and they still don't work.
That's the problem that people have. You're either new or frustrated, but one or the other is what you're going to have.
We address the real issues
So here at The Forex Trading Coach (TFTC), we like to think that we're different because we address the real issues. We realise that you're busy. We realise that you've probably got family, kids, partners, sports, jobs. That thing called a job, most people have got a job. And so the last thing that you want to be doing is sitting hour after hour after hour either trying to understand a strategy or, once you've done that, being forced to sit there at certain times of the day, or just waiting for that line to cross over that line so you can take that trade according to that strategy. We realise that that is not good. We realise that's not practical.
Trade in a few minutes a day
We are real traders. We're real people, all with families, working from home. Our aim at The Forex Trading Coach (TFTC) is to get you to be able to trade in only a few minutes a day if you want to. So if you wanted to trade just the weekly and daily charts, you should really trade no more than maybe 30, 40 minutes in the entire week. And you know exactly when to do that. We have traders here at Forex Trading Coach who just trade 10 minutes just once a week on weekly charts, and that's it.
You can trade any time frame that you want. And the beauty of the system is it works on al...]]>https://theforextradingcoach.com/?p=12167Sun, 26 Jan 2020 12:10:15 +0000Andrew MitchemPodcast: What Makes Us Different at TFTC? In this video: 00:29 – So you want to become a Forex trader 01:00 – New or Frustrated Trader 02:16 – We address the real issues 03:03 – Trade in a few minutes a day 03:45 – Trade off the close of a candle...
What Makes Us Different at TFTC?
In this video:
00:29 – So you want to become a Forex trader
01:00 – New or Frustrated Trader
02:16 – We address the real issues
03:03 – Trade in a few minutes a day
03:45 – Trade off the close of a candle
04:28 – The opportunity to follow us
05:45 – Trades posted on our Forum site and on our Live Webinars
07:00 – Trading software, Support and the Strategy
07:18 – Free Trading Information for you
What makes us different here at the Forex Trading Coach? Let's talk about that and more right now.
Hey, traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach. This is video and podcast number 350, and I want to talk about us here at the Forex Trading Coach, how we can help you.
So you want to become a Forex trader
But what makes us different? So you want to become a forex trader. Now, you can go online. You can probably look locally around you, and you will find there are courses, there are coaches, there are systems, there are strategies, there are robots, there are books, there are… Everything to do with forex trading is online.
The problem is, from your point of view, is how do you know which is good and which is not good, what works, what doesn't work?
New or Frustrated Trader
You see, as a forex trader, you're going to be in one or two different situations. If you're new, you're looking online and it probably all looks quite exciting right now, but also, it will start to lead to confusion because where do you go? How do you know what's good or what isn't good? Because, to start with, it all looks kind of good because it's all new, and you kind of believe everything that's out there.
If you're a experienced trader, well, you're into that frustration time. You've been through and you've tried different systems, and you bought robots and book courses. You've bought strategies. You've done coaching sessions. You may even have been physically to somewhere in your area or travelled to do some coaching. But the problem is, although it probably looked okay, it doesn't work. And now you're still in that same reoccurring cycle of a bit of hope, pay some money, it doesn't work, find the next thing, a bit of hope, pay some money, it doesn't work, and you keep going until you either run out of money, give up, frustrated, someone tells you you're silly for keeping trying, or you try your own ideas and they still don't work.
That's the problem that people have. You're either new or frustrated, but one or the other is what you're going to have.
We address the real issues
So here at The Forex Trading Coach (TFTC), we like to think that we're different because we address the real issues. We realise that you're busy. We realise that you've probably got family, kids, partners, sports, jobs. That thing called a job, most people have got a job. And so the last thing that you want to be doing is sitting hour after hour after hour either trying to understand a strategy or, once you've done that, being forced to sit there at certain times of the day, or just waiting for that line to cross over that line so you can take that trade according to that strategy. We realise that that is not good. We realise that's not practical.
Trade in a few minutes a day
We are real traders. We're real people, all with families, working from home. Our aim at The Forex Trading Coach (TFTC) is to get you to be able to trade in only a few minutes a day if you want to. So if you wanted to trade just the weekly and daily charts, you should really trade no more than maybe 30, 40 minutes in the entire week. And you know exactly when to do that. We have traders here at Forex Trading Coach who just trade 10 minutes just once a week on weekly charts, and that's it.
You can trade any time frame that you want. And the beauty of the system is it works on al...]]>499falsefullhttps://www.spreaker.com/episode/349-removing-the-confusion-from-your-trading--21847368
Removing the Confusion from Your Trading
In this video:
00:26 – Trading Confusion and how to overcome it
00:55 – Confusion to Clarity
02:00 – Knowing what to look for
02:50 – Feedback from new clients
03:59 – Pick the charts and time frames that suit you
I'm going to try and help you remove the confusion from your trading. Let's talk about that and more right now.
Hi, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 349.
Trading Confusion and how to overcome it
Now, I want to talk about trading confusion, and I believe it's very, very common and I know that because when someone joins our course, I send them an email and find out all about their trading history, so we know how to best help them. And then after a week, I ask them how they're going with the course and what they're liking, what they're finding difficult, and then the same after a few weeks, same after a month, six months, et cetera. So, we get some really good feedback from people about what stage of their trading career and the stage of their journey that they're at.
Confusion to Clarity
But what I find is that confusion is a big part of what people have before they come to us. And after they join us, clarity and an understanding of the market is a big part of what they gain out of joining the course and a well-proven strategy.
So, I want to expand on that because the confusion is a big problem. You need to understand when are you trading? When are you looking at your charts? At the close of a candle is a very easy thing to do. You probably just heard my charts just alert behind me here. It is now 11 o'clock here Friday morning, so it's 5:00PM Thursday New York time. So, as soon as I finish this video, I'm going to be looking at the daily charts. In fact, I've already had a quick look to see what's happening, and posting for our clients' specific trades based on the daily charts. I know that right now I need to look at the daily charts because the candle on the daily candle was closed.
At the same time I can look at the one hour, the four hour, the six hour, the eight hour and the 12 hour charts all at the same time. And so I have clarity of when to trade.
Knowing what to look for
I then have clarity because I know what I'm looking for. Now a little bit like riding a bicycle. Once you can do it, you can do it and you can always do it and you can get back on the bike and you know what to do. But when you're starting, there's a lot of confusion going on and it's very, very difficult because you've got to pedal and steer and look out for cars and other bikes, et cetera, and it's quite difficult to put it all together. But once someone's showing you how to do it and once you've mastered it, it becomes relatively easy.
And trading's not too dissimilar in that once you have clarity and understanding of what you're looking for, what pattern you're looking for, what the set up looks like, knowing which currency pairs you're favouring, which timeframe charts you're favouring, all those type of things, it becomes a lot easier. And just wanted to a pick up on that.
Feedback from new clients
Had some feedback forms here from clients. Just wanted to read a few from people who had joined us recently. Feedback from Sarah who said, I learned more in the last week since I've joined in the past six months of trying to trade by myself. There's another one here from Kenneth. Loved the live trading rooms. They're fantastic. I love the examples and really helps cement how to use the system. I love the emphasis on risk management.
Another one here from Derek who said, I think the content is really well covered. Love how your indicators tie into your method and the indicators incorporate into your trading strategy. Another one here from Peter. The templates are connected to help me understand w...]]>https://theforextradingcoach.com/?p=12119Sun, 19 Jan 2020 12:36:36 +0000Andrew MitchemPodcast: Removing the Confusion from Your Trading In this video: 00:26 – Trading Confusion and how to overcome it 00:55 – Confusion to Clarity 02:00 – Knowing what to look for 02:50 – Feedback from new clients 03:59 – Pick the charts and time...
Removing the Confusion from Your Trading
In this video:
00:26 – Trading Confusion and how to overcome it
00:55 – Confusion to Clarity
02:00 – Knowing what to look for
02:50 – Feedback from new clients
03:59 – Pick the charts and time frames that suit you
I'm going to try and help you remove the confusion from your trading. Let's talk about that and more right now.
Hi, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 349.
Trading Confusion and how to overcome it
Now, I want to talk about trading confusion, and I believe it's very, very common and I know that because when someone joins our course, I send them an email and find out all about their trading history, so we know how to best help them. And then after a week, I ask them how they're going with the course and what they're liking, what they're finding difficult, and then the same after a few weeks, same after a month, six months, et cetera. So, we get some really good feedback from people about what stage of their trading career and the stage of their journey that they're at.
Confusion to Clarity
But what I find is that confusion is a big part of what people have before they come to us. And after they join us, clarity and an understanding of the market is a big part of what they gain out of joining the course and a well-proven strategy.
So, I want to expand on that because the confusion is a big problem. You need to understand when are you trading? When are you looking at your charts? At the close of a candle is a very easy thing to do. You probably just heard my charts just alert behind me here. It is now 11 o'clock here Friday morning, so it's 5:00PM Thursday New York time. So, as soon as I finish this video, I'm going to be looking at the daily charts. In fact, I've already had a quick look to see what's happening, and posting for our clients' specific trades based on the daily charts. I know that right now I need to look at the daily charts because the candle on the daily candle was closed.
At the same time I can look at the one hour, the four hour, the six hour, the eight hour and the 12 hour charts all at the same time. And so I have clarity of when to trade.
Knowing what to look for
I then have clarity because I know what I'm looking for. Now a little bit like riding a bicycle. Once you can do it, you can do it and you can always do it and you can get back on the bike and you know what to do. But when you're starting, there's a lot of confusion going on and it's very, very difficult because you've got to pedal and steer and look out for cars and other bikes, et cetera, and it's quite difficult to put it all together. But once someone's showing you how to do it and once you've mastered it, it becomes relatively easy.
And trading's not too dissimilar in that once you have clarity and understanding of what you're looking for, what pattern you're looking for, what the set up looks like, knowing which currency pairs you're favouring, which timeframe charts you're favouring, all those type of things, it becomes a lot easier. And just wanted to a pick up on that.
Feedback from new clients
Had some feedback forms here from clients. Just wanted to read a few from people who had joined us recently. Feedback from Sarah who said, I learned more in the last week since I've joined in the past six months of trying to trade by myself. There's another one here from Kenneth. Loved the live trading rooms. They're fantastic. I love the examples and really helps cement how to use the system. I love the emphasis on risk management.
Another one here from Derek who said, I think the content is really well covered. Love how your indicators tie into your method and the indicators incorporate into your trading strategy. Another one here from Peter. The templates are connected to help me understand w...]]>304falsefullhttps://www.spreaker.com/episode/348-making-2020-a-fantastic-trading-year-for-you--21605277Podcast:

Making 2020 a Fantastic Trading Year for You
In this video:
00:35 – What can you learn from your trading in 2019?
01:10 – We start trading on 13th January and have our trading plan ready
01:27 – Daily trades made +23.87% gain in 2019
02:17 – We know what works and what doesn’t work
03:02 – We promote low chart watching times
04:00 – Daily trades have been profitable every year since 2010
04:23 – Split payment options for you – Our 3 Day Sale this week
05:13 – A performance based guarantee
06:16 – Register your interest for the sale
What are you going to do to ensure that 2020 becomes a fantastic year for you as a Forex trader? Let's talk about that and more right now.
Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 348. And happy new year to you.
This is the first video and podcast into 2020. I hope you had a fantastic Christmas and also just a great new year.
What can you learn from your trading in 2019?
Now, moving into trading, what is it that you did in 2019 that you kind of regret? What is it that you did that was good? Have you taken some time to analyse your performance of last year? Have you taken time to go through the charts, look at the setups that you took, ones that worked, ones that didn't work, and basically go through and create yourself a plan so that this year, 2020 is going to become a great year for you?
We start trading on 13th January and have our trading plan ready
Now, of course, nobody knows what the market's going to do as we head into this new year, but we're starting trading next week on the 13th of January, which would be the day that you get this video on podcast. That's our first day of our daily trades. Now, we all have a plan of what we're doing heading into the next trading year.
Daily trades made +23.87% gain in 2019
We've analysed what we've done last year, and by the way, our daily trades that we post for our members made 23.87% for 2019 by risking just half of 1% per trade. So very, very low risk. Our biggest month I think was about a 1.6, or 1.8 I think it was, percent losing month. So very, very low draw down, high consistent returns. Just one timeframe I'm talking about there. Of course, we trade different time frames as well. We post on our membership site about the monthly and the weekly timeframes and on our forum site, on our forum site that we publish trades.
So do other clients of different timeframe charts, trades that we're looking at. And on our live webinars, we trade anything from a 15 minute chart through to a 12 hour chart depending on the timeframe that's showing the right setup at the right time.
We know what works and what doesn’t work
But we have our plan, we have our trade setups in mind, we know what we're looking for, we know what works, we know what doesn't work. We know about reversal trades, they look really good on the charts, but we also know that continuation trades look not quite so dramatic on your charts, but they have such a high probability chance of being profitable. So I personally much prefer continuation trades because it means I'm trading with the main trend, but after a pullback. And so, for me, I'd always put a higher emphasis on a continuation trade than I would on a reversal trade.
But it's having things like that in mind. When are you going to trade? What days of the week? What times are you trading? We only trade on the close of a candle.
We promote low chart watching times
And I think that's really important because, for me, we advocate and we promote living. Look at the view me, if you're watching the video. We're out here trying to do things outside, trading 30 minutes once a day, and that's it. You do not need to sit at your charts watching five minute charts moving up and down all day. You can,]]>https://theforextradingcoach.com/?p=12069Sun, 12 Jan 2020 11:47:39 +0000Andrew Mitchem Podcast: Making 2020 a Fantastic Trading Year for You In this video: 00:35 – What can you learn from your trading in 2019? 01:10 – We start trading on 13th January and have our trading plan ready 01:27 – Daily trades made +23.87% gain...Podcast:

Making 2020 a Fantastic Trading Year for You
In this video:
00:35 – What can you learn from your trading in 2019?
01:10 – We start trading on 13th January and have our trading plan ready
01:27 – Daily trades made +23.87% gain in 2019
02:17 – We know what works and what doesn’t work
03:02 – We promote low chart watching times
04:00 – Daily trades have been profitable every year since 2010
04:23 – Split payment options for you – Our 3 Day Sale this week
05:13 – A performance based guarantee
06:16 – Register your interest for the sale
What are you going to do to ensure that 2020 becomes a fantastic year for you as a Forex trader? Let's talk about that and more right now.
Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 348. And happy new year to you.
This is the first video and podcast into 2020. I hope you had a fantastic Christmas and also just a great new year.
What can you learn from your trading in 2019?
Now, moving into trading, what is it that you did in 2019 that you kind of regret? What is it that you did that was good? Have you taken some time to analyse your performance of last year? Have you taken time to go through the charts, look at the setups that you took, ones that worked, ones that didn't work, and basically go through and create yourself a plan so that this year, 2020 is going to become a great year for you?
We start trading on 13th January and have our trading plan ready
Now, of course, nobody knows what the market's going to do as we head into this new year, but we're starting trading next week on the 13th of January, which would be the day that you get this video on podcast. That's our first day of our daily trades. Now, we all have a plan of what we're doing heading into the next trading year.
Daily trades made +23.87% gain in 2019
We've analysed what we've done last year, and by the way, our daily trades that we post for our members made 23.87% for 2019 by risking just half of 1% per trade. So very, very low risk. Our biggest month I think was about a 1.6, or 1.8 I think it was, percent losing month. So very, very low draw down, high consistent returns. Just one timeframe I'm talking about there. Of course, we trade different time frames as well. We post on our membership site about the monthly and the weekly timeframes and on our forum site, on our forum site that we publish trades.
So do other clients of different timeframe charts, trades that we're looking at. And on our live webinars, we trade anything from a 15 minute chart through to a 12 hour chart depending on the timeframe that's showing the right setup at the right time.
We know what works and what doesn’t work
But we have our plan, we have our trade setups in mind, we know what we're looking for, we know what works, we know what doesn't work. We know about reversal trades, they look really good on the charts, but we also know that continuation trades look not quite so dramatic on your charts, but they have such a high probability chance of being profitable. So I personally much prefer continuation trades because it means I'm trading with the main trend, but after a pullback. And so, for me, I'd always put a higher emphasis on a continuation trade than I would on a reversal trade.
But it's having things like that in mind. When are you going to trade? What days of the week? What times are you trading? We only trade on the close of a candle.
We promote low chart watching times
And I think that's really important because, for me, we advocate and we promote living. Look at the view me, if you're watching the video. We're out here trying to do things outside, trading 30 minutes once a day, and that's it. You do not need to sit at your charts watching five minute charts moving up and down all day. You can,]]>422falsefullhttps://www.spreaker.com/episode/347-becoming-a-better-trader-in-2020--20766643Podcast:

Becoming a Better Trader in 2020
In this video:
00:25 – 2019 has been an excellent year
01:01 – We post our daily trades every day of the trading year
01:50 – Other trades posted on our forum site and taken on our webinars
02:10 – How you can learn to take these trades by yourself
03:16 – Now living in Nelson
03:40 – What can you learn from your 2019 trading year?
04:22 – We aim to create good Forex traders
04:54 – Use the next few weeks wisely to help better yourself
05:27 – We wish you a fantastic Christmas and happy New Year
What can you take from your trading year to help you become an even better trader next year? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with the last video and podcast for 2019.
2019 has been an excellent year
Now we've had a really good year, both personally and through the Forex Trading Coach and of course through our many thousands of clients dotted throughout the entire world. Had a fantastic year.
The last few months have been a little bit tougher, but with trading you've got to take the bigger picture. Always look at that. Don't worry about the last two or three trades. Always look at the bigger picture. And so this video is about what we've done and also what have you done, and what can you either get help with or what can you learn in order to make 2020 a really great year for you trading wise.
We post our daily trades every day of the trading year
So here at the Forex Trading Coach, every single day of the trading year without fail, we have posted our daily trades on our membership site. We've done that for years, but this year was no exception. Every single day around 5:30 New York time; PM when the daily charts close, we post our daily analysis. Now, if you did nothing else than just copied our daily trades this year with only half of 1% risk per trade, like very, very minimal risk, all the stop losses, all profit targets, you'd be up around 24% so far.
We've got another week to go, end of today and all of next week, but we're around 24% right now, which when you consider that's purely one time frame, very low risk trading. That is very, very good.
Other trades posted on our forum site and taken on our webinars
Now on top of that, of course we post trades on the monthly charts, the weekly charts and on our breakout strategy that we have and all our forum site, we post trades all the time as do other clients. And our live weekly webinars, we're always taking trades on those. But just the daily timeframe, 24% for the year to date, pretty outstanding.
How you can learn to take these trades by yourself
And so it's what you're learning from that is not only the gain of that monetary gain, it's what you're learning education-wise of how to take these trades.
Why to take these trades, what trades to take, what to learn from them, where to put your profits and stops, all that type of thing. So really good. On the Forex Trading Coach website itself, free information has been posted free to everybody every single day as well. Strength and weakness analysis where we're looking at different currency pairs going strong or weak for that upcoming day every day without fail this year we have posted that analysis as well.
And it's what we're about, we're about consistency about quality, consistency, low risk, high reward to risk. But for you to help you with your trading, that free information that is there and even if you're not a client, free information is there. Of course clients get more and they get specific trades and to do with the strategy. But for everybody else, there's free information there. There's of course our ebook, our calculator, our webinars that we have, which by the way are on demand as well in there.]]>https://theforextradingcoach.com/?p=12031Sun, 15 Dec 2019 13:25:20 +0000Andrew Mitchem Podcast: Becoming a Better Trader in 2020 In this video: 00:25 – 2019 has been an excellent year 01:01 – We post our daily trades every day of the trading year 01:50 – Other trades posted on our forum site and taken on our webinars 02:10...Podcast:

Becoming a Better Trader in 2020
In this video:
00:25 – 2019 has been an excellent year
01:01 – We post our daily trades every day of the trading year
01:50 – Other trades posted on our forum site and taken on our webinars
02:10 – How you can learn to take these trades by yourself
03:16 – Now living in Nelson
03:40 – What can you learn from your 2019 trading year?
04:22 – We aim to create good Forex traders
04:54 – Use the next few weeks wisely to help better yourself
05:27 – We wish you a fantastic Christmas and happy New Year
What can you take from your trading year to help you become an even better trader next year? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with the last video and podcast for 2019.
2019 has been an excellent year
Now we've had a really good year, both personally and through the Forex Trading Coach and of course through our many thousands of clients dotted throughout the entire world. Had a fantastic year.
The last few months have been a little bit tougher, but with trading you've got to take the bigger picture. Always look at that. Don't worry about the last two or three trades. Always look at the bigger picture. And so this video is about what we've done and also what have you done, and what can you either get help with or what can you learn in order to make 2020 a really great year for you trading wise.
We post our daily trades every day of the trading year
So here at the Forex Trading Coach, every single day of the trading year without fail, we have posted our daily trades on our membership site. We've done that for years, but this year was no exception. Every single day around 5:30 New York time; PM when the daily charts close, we post our daily analysis. Now, if you did nothing else than just copied our daily trades this year with only half of 1% risk per trade, like very, very minimal risk, all the stop losses, all profit targets, you'd be up around 24% so far.
We've got another week to go, end of today and all of next week, but we're around 24% right now, which when you consider that's purely one time frame, very low risk trading. That is very, very good.
Other trades posted on our forum site and taken on our webinars
Now on top of that, of course we post trades on the monthly charts, the weekly charts and on our breakout strategy that we have and all our forum site, we post trades all the time as do other clients. And our live weekly webinars, we're always taking trades on those. But just the daily timeframe, 24% for the year to date, pretty outstanding.
How you can learn to take these trades by yourself
And so it's what you're learning from that is not only the gain of that monetary gain, it's what you're learning education-wise of how to take these trades.
Why to take these trades, what trades to take, what to learn from them, where to put your profits and stops, all that type of thing. So really good. On the Forex Trading Coach website itself, free information has been posted free to everybody every single day as well. Strength and weakness analysis where we're looking at different currency pairs going strong or weak for that upcoming day every day without fail this year we have posted that analysis as well.
And it's what we're about, we're about consistency about quality, consistency, low risk, high reward to risk. But for you to help you with your trading, that free information that is there and even if you're not a client, free information is there. Of course clients get more and they get specific trades and to do with the strategy. But for everybody else, there's free information there. There's of course our ebook, our calculator, our webinars that we have, which by the way are on demand as well in there.]]>361falsefullhttps://www.spreaker.com/episode/346-trading-forex-from-anywhere--20579693Podcast:

Trading Forex from Anywhere
In this video:
00:25 – We’re not geographically restricted
01:15 – All about Nelson
02:05 – What’s the freedom worth to you?
02:47 – Plan now as we head towards the end of the year
The great thing about trading Forex is you can trade from anywhere. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 346.
We’re not geographically restricted
Now trading is quite unique… Not many businesses, not many industries out there that you are not geographically restricted with. It's one of the awesome benefits of trading Forex. We are moving, so tomorrow is our last day in this area… It's what's called the Waikato. It's a an area South of Auckland in the North Island of New Zealand. Been around this area, originally came here for dairy farming reasons and we've lived in this area for around 22, 23 years and it's now time for a change. So by the time you get to watch this video and podcasts will be many, many hundreds of kilometres away. We are moving to Nelson, which is in the very top of the South Island. A big move. Lots to get done, but really looking forward to the challenge and and a change.
All about Nelson
So reasons we're going there? Well, Nelson's just a fantastic place in itself. It's the sunshine capital of New Zealand. It's right on the coast near awesome beaches, incredible scenery, absolutely amazing scenery. You've got mountains, you've got beaches. Craft beer capital of New Zealand, lots and lots of hops grown around there, which would suit me massively. The wine capital of New Zealand where you hear about the famous New Zealand Sauvignon Blanc is all around that area, the Marlborough area of New Zealand. So lots of great reasons to go there. Awesome weather for flying the helicopter and really looking forward to that. And my wife and our daughters are into horses, so great horse tracks, great horse weather as well. So lots and lots of good positive reasons why we are going there.
What’s the freedom worth to you?
But the reason I wanted to make this is to just say to you, look, what's that worth to you? What does that geographic, or that lack of that geographic, restriction worth to you? You see all you need to trade really is like a reasonably good internet connection and a laptop. I mean you can trade even using like your phone… Not on your phone, but you know, you get your hotspot working on your phone and that's all you need to power your laptop. So you know, it just has so many benefits. The ability to be remote, the ability to be wireless, the ability to be non-geographic specific.
So again, what's that worth you? What does that have as value?
Plan now as we head towards the end of the year
My suggestion is now as we're heading towards like the end of the year is have a good serious think about that, you know, and what is that education, that knowledge worth to you to be able to go from maybe where you are now to becoming a Forex trader? But don't expect to do it straight away. You know, this takes a long time to get to establish and get to work properly.
So really it's about that… What can you do now in the short-term? What can you do over, even like the Christmas/New Year time where you may have got a bit of time off work, you may have got a bit more sort of free time to be able to learn something new, to be able to study something. So that little bit of short-term work and effort right now for that bigger picture, longer term goal of that freedom or that financial freedom, that time freedom or that geographic freedom.
So have a think about that and look forward to catching up with you this time next week where I'll be making my video from Nelson. So after 22 years in the Waikato, the Hamilton area of, of New Zealander,]]>https://theforextradingcoach.com/?p=12001Sun, 08 Dec 2019 15:30:58 +0000Andrew Mitchem Podcast: Trading Forex from Anywhere In this video: 00:25 – We’re not geographically restricted 01:15 – All about Nelson 02:05 – What’s the freedom worth to you? 02:47 – Plan now as we head towards the end of the year The great thing...Podcast:

Trading Forex from Anywhere
In this video:
00:25 – We’re not geographically restricted
01:15 – All about Nelson
02:05 – What’s the freedom worth to you?
02:47 – Plan now as we head towards the end of the year
The great thing about trading Forex is you can trade from anywhere. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 346.
We’re not geographically restricted
Now trading is quite unique… Not many businesses, not many industries out there that you are not geographically restricted with. It's one of the awesome benefits of trading Forex. We are moving, so tomorrow is our last day in this area… It's what's called the Waikato. It's a an area South of Auckland in the North Island of New Zealand. Been around this area, originally came here for dairy farming reasons and we've lived in this area for around 22, 23 years and it's now time for a change. So by the time you get to watch this video and podcasts will be many, many hundreds of kilometres away. We are moving to Nelson, which is in the very top of the South Island. A big move. Lots to get done, but really looking forward to the challenge and and a change.
All about Nelson
So reasons we're going there? Well, Nelson's just a fantastic place in itself. It's the sunshine capital of New Zealand. It's right on the coast near awesome beaches, incredible scenery, absolutely amazing scenery. You've got mountains, you've got beaches. Craft beer capital of New Zealand, lots and lots of hops grown around there, which would suit me massively. The wine capital of New Zealand where you hear about the famous New Zealand Sauvignon Blanc is all around that area, the Marlborough area of New Zealand. So lots of great reasons to go there. Awesome weather for flying the helicopter and really looking forward to that. And my wife and our daughters are into horses, so great horse tracks, great horse weather as well. So lots and lots of good positive reasons why we are going there.
What’s the freedom worth to you?
But the reason I wanted to make this is to just say to you, look, what's that worth to you? What does that geographic, or that lack of that geographic, restriction worth to you? You see all you need to trade really is like a reasonably good internet connection and a laptop. I mean you can trade even using like your phone… Not on your phone, but you know, you get your hotspot working on your phone and that's all you need to power your laptop. So you know, it just has so many benefits. The ability to be remote, the ability to be wireless, the ability to be non-geographic specific.
So again, what's that worth you? What does that have as value?
Plan now as we head towards the end of the year
My suggestion is now as we're heading towards like the end of the year is have a good serious think about that, you know, and what is that education, that knowledge worth to you to be able to go from maybe where you are now to becoming a Forex trader? But don't expect to do it straight away. You know, this takes a long time to get to establish and get to work properly.
So really it's about that… What can you do now in the short-term? What can you do over, even like the Christmas/New Year time where you may have got a bit of time off work, you may have got a bit more sort of free time to be able to learn something new, to be able to study something. So that little bit of short-term work and effort right now for that bigger picture, longer term goal of that freedom or that financial freedom, that time freedom or that geographic freedom.
So have a think about that and look forward to catching up with you this time next week where I'll be making my video from Nelson. So after 22 years in the Waikato, the Hamilton area of, of New Zealander,]]>242falsefullhttps://www.spreaker.com/episode/345-the-value-from-being-part-of-a-trading-group--20235732Podcast:

The Value from Being Part of a Trading Group
In this video:
00:29 – What happens when you join a group
00:59 – It’s a lonely business
01:25 – Feedback from our trading community
02:17 – What our new traders like about the course
03:23 – The value of being in contact with other traders
05:40 – No-one learns from being lectured
06:20 – Cyber Monday 2019 sale – a great opportunity
Never underestimate the value of being part of a group of like-minded Forex traders. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 345. Got two really important points to cover in today's video and podcast.
What happens when you join a group
The first is all about understanding and appreciating the value that you get as a trader when you're part of a group. You see, when we start trading, we're pretty much on our own. Most of us are on our own. We start on our own. We're either working from home, you could be working from work as part of your office, on your phone, whatever it might be, but you're generally working by yourself when it comes to your trading, your learning process. You're researching online. You might attend a course, but then you're back home after doing that course.
It’s a lonely business
So very lonely business, quite honestly. It really is. A lot of people don't understand what it is that you do and a lot of people probably doubt what you're doing is good and then you start doubting yourself. So a very lonely business indeed. And a lot of people give up with that and they start blaming the market or the broker and things like that.
Feedback from our trading community
Now, I wanted to show you some or discuss with you some information that we've had back from some new traders. You see here at The Forex Trading Coach, we value the whole community. Being part of a team, part of a big group of people, all are here to help each other and to help learn and to help each other becoming successful. That's what we're about, and it's what we really strive to get out of, all of our clients are getting a part of a big group to all participate, all taking part.
And as part of that we send out emails with forms, progress forms, to just basically checking on how people are going. Where they're struggling with, where they're going well, what that they need help with, that type of thing. And so I'd like to read three progress reports that have come through just this week from clients that have joined in the last few weeks. And it's really interesting because what question number seven that we ask is, please tell me what aspects of the course you like the most.
What our new traders like about the course
So Brian wrote and said, "Look, I'm loving the video course and the transcription because it helps me with the key points, and certainly in the past I've struggled with these points about understanding a strategy." And now he's saying that with the video course he can go and watch them, rewatch the videos as often as he likes, and really understand the whole key strategy. So that's from Brian.
There was one here from Andrew made a number of points. Said, "I'm loving the position sizing and the money management and risk. It's where most traders fail, and I now have a system I can understand. I'm also enjoying the candlestick analysis and price action. It's just what I needed." And a third point he says is, "One thing I'm really liking is the success stories that you put out there interviewing other traders who have struggled to make trading work for them in the past. Now they're taking your course and have been able to become successful."
The value of being in contact with other traders
So that's from those two, but the one I really wanted to bring out here as part...]]>https://theforextradingcoach.com/?p=11955Sun, 24 Nov 2019 12:57:23 +0000Andrew Mitchem Podcast: The Value from Being Part of a Trading Group In this video: 00:29 – What happens when you join a group 00:59 – It’s a lonely business 01:25 – Feedback from our trading community 02:17 – What our new traders like about the course...Podcast:

The Value from Being Part of a Trading Group
In this video:
00:29 – What happens when you join a group
00:59 – It’s a lonely business
01:25 – Feedback from our trading community
02:17 – What our new traders like about the course
03:23 – The value of being in contact with other traders
05:40 – No-one learns from being lectured
06:20 – Cyber Monday 2019 sale – a great opportunity
Never underestimate the value of being part of a group of like-minded Forex traders. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 345. Got two really important points to cover in today's video and podcast.
What happens when you join a group
The first is all about understanding and appreciating the value that you get as a trader when you're part of a group. You see, when we start trading, we're pretty much on our own. Most of us are on our own. We start on our own. We're either working from home, you could be working from work as part of your office, on your phone, whatever it might be, but you're generally working by yourself when it comes to your trading, your learning process. You're researching online. You might attend a course, but then you're back home after doing that course.
It’s a lonely business
So very lonely business, quite honestly. It really is. A lot of people don't understand what it is that you do and a lot of people probably doubt what you're doing is good and then you start doubting yourself. So a very lonely business indeed. And a lot of people give up with that and they start blaming the market or the broker and things like that.
Feedback from our trading community
Now, I wanted to show you some or discuss with you some information that we've had back from some new traders. You see here at The Forex Trading Coach, we value the whole community. Being part of a team, part of a big group of people, all are here to help each other and to help learn and to help each other becoming successful. That's what we're about, and it's what we really strive to get out of, all of our clients are getting a part of a big group to all participate, all taking part.
And as part of that we send out emails with forms, progress forms, to just basically checking on how people are going. Where they're struggling with, where they're going well, what that they need help with, that type of thing. And so I'd like to read three progress reports that have come through just this week from clients that have joined in the last few weeks. And it's really interesting because what question number seven that we ask is, please tell me what aspects of the course you like the most.
What our new traders like about the course
So Brian wrote and said, "Look, I'm loving the video course and the transcription because it helps me with the key points, and certainly in the past I've struggled with these points about understanding a strategy." And now he's saying that with the video course he can go and watch them, rewatch the videos as often as he likes, and really understand the whole key strategy. So that's from Brian.
There was one here from Andrew made a number of points. Said, "I'm loving the position sizing and the money management and risk. It's where most traders fail, and I now have a system I can understand. I'm also enjoying the candlestick analysis and price action. It's just what I needed." And a third point he says is, "One thing I'm really liking is the success stories that you put out there interviewing other traders who have struggled to make trading work for them in the past. Now they're taking your course and have been able to become successful."
The value of being in contact with other traders
So that's from those two, but the one I really wanted to bring out here as part...]]>521falsefullhttps://www.spreaker.com/episode/344-not-all-candle-patterns-are-equal--20080205Podcast:

Not all candle patterns are equal
In this video:
00:32 – Why are the candles not making me money?
01:10 – Understanding technical analysis to help your trading
01:55 – Taking the high probability trade setups
02:24 – What are we looking for?
02:55 – Further in-depth analysis
03:54 – The extras we look for and teach our traders to do
04:50 – Trading from the right hand side of the chart is when you make money from trading
05:30 – Moving house and Cyber Monday sale
06:25 – Register your interest in the Cyber Monday sale
Not all candle patterns are equal. There's a big difference between what works and what doesn't work. Let's talk about that and more right now.
Hey forex traders, it's Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 344.
I want to talk about candle patterns and how I can help you to select the best patterns.
Why are the candles not making me money?
You see, I've received an email just this week from a guy who said, "Hey, Andrew, done lots of research online. I've been looking everywhere. I understand candle patterns. There's 12 that I've identified. I spent a lot of time at my charts looking at them, taking trades off them, but the problem is I'm still not making any money. Can you help me and identify what my issue is?" Now, when I delved further into this, I realised that this guy six months ago started looking at candle patterns and he spent a lot of time looking at YouTube videos and just looking at sites online and forum sites, et cetera.
Understanding technical analysis to help your trading
He had done a lot of research in defining these 12 patterns, the problem is that not all candle patterns are equal. You need to understand that, and you need to understand a lot more information about technical trading rather than just saying, "Oh, here's a pin bar, or here's an engulfing candle, and I'm just going to trade it because it's a pin bar or an engulfing candle." You cannot do that. That will not make you money. You can go and look at your charts. Have a look at the chart behind me, there's engulfing candles and pin bars and hanging man and all those different patterns that you hear about and candles that you hear about all over your charts. The problem is you can't just take every single one of them. It's just not going to work. There's a lot more research, a lot more finesse that you need to do into understanding them and what makes a good candle pattern.
Taking the high probability trade setups
So for me, it's all about getting high probability trade setting up. I want to take less trades, but high probability. What I'm grading is like A and A plus quality setups. Less is more, but it's all about identifying what it is about that candle, where it occurs within the chart, what part of the chart it's in, what the price is doing. It makes it from just an engulfing candle to yes, this is a high quality setup.
What are we looking for?
So it's all about things like looking at the previous trend, has there been a trend line break? Has there been previous exhaustion? What level has the candle bounced at? If it's a sell trade, has it bounced at a resistance level? Is that a random number or a pivot point? Is it a previous high? It could be all sorts of manner of things that we're looking for, but it's identifying that and seeing why that candle has bounced at that level.
Further in-depth analysis
You identify what potentially could be a good setup, and then it's a case of, well, looking into that further, do I have stop loss protection? Am I just going to place my stop loss higher the candle or a fib level. But if you have things such as like round numbers in the way or previous highs or the pivot point or the middle Bollinger Band or things like that,]]>https://theforextradingcoach.com/?p=11917Sun, 17 Nov 2019 15:00:10 +0000Andrew Mitchem Podcast: Not all candle patterns are equal In this video: 00:32 – Why are the candles not making me money? 01:10 – Understanding technical analysis to help your trading 01:55 – Taking the high probability trade setups 02:24 – What are we...Podcast:

Not all candle patterns are equal
In this video:
00:32 – Why are the candles not making me money?
01:10 – Understanding technical analysis to help your trading
01:55 – Taking the high probability trade setups
02:24 – What are we looking for?
02:55 – Further in-depth analysis
03:54 – The extras we look for and teach our traders to do
04:50 – Trading from the right hand side of the chart is when you make money from trading
05:30 – Moving house and Cyber Monday sale
06:25 – Register your interest in the Cyber Monday sale
Not all candle patterns are equal. There's a big difference between what works and what doesn't work. Let's talk about that and more right now.
Hey forex traders, it's Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 344.
I want to talk about candle patterns and how I can help you to select the best patterns.
Why are the candles not making me money?
You see, I've received an email just this week from a guy who said, "Hey, Andrew, done lots of research online. I've been looking everywhere. I understand candle patterns. There's 12 that I've identified. I spent a lot of time at my charts looking at them, taking trades off them, but the problem is I'm still not making any money. Can you help me and identify what my issue is?" Now, when I delved further into this, I realised that this guy six months ago started looking at candle patterns and he spent a lot of time looking at YouTube videos and just looking at sites online and forum sites, et cetera.
Understanding technical analysis to help your trading
He had done a lot of research in defining these 12 patterns, the problem is that not all candle patterns are equal. You need to understand that, and you need to understand a lot more information about technical trading rather than just saying, "Oh, here's a pin bar, or here's an engulfing candle, and I'm just going to trade it because it's a pin bar or an engulfing candle." You cannot do that. That will not make you money. You can go and look at your charts. Have a look at the chart behind me, there's engulfing candles and pin bars and hanging man and all those different patterns that you hear about and candles that you hear about all over your charts. The problem is you can't just take every single one of them. It's just not going to work. There's a lot more research, a lot more finesse that you need to do into understanding them and what makes a good candle pattern.
Taking the high probability trade setups
So for me, it's all about getting high probability trade setting up. I want to take less trades, but high probability. What I'm grading is like A and A plus quality setups. Less is more, but it's all about identifying what it is about that candle, where it occurs within the chart, what part of the chart it's in, what the price is doing. It makes it from just an engulfing candle to yes, this is a high quality setup.
What are we looking for?
So it's all about things like looking at the previous trend, has there been a trend line break? Has there been previous exhaustion? What level has the candle bounced at? If it's a sell trade, has it bounced at a resistance level? Is that a random number or a pivot point? Is it a previous high? It could be all sorts of manner of things that we're looking for, but it's identifying that and seeing why that candle has bounced at that level.
Further in-depth analysis
You identify what potentially could be a good setup, and then it's a case of, well, looking into that further, do I have stop loss protection? Am I just going to place my stop loss higher the candle or a fib level. But if you have things such as like round numbers in the way or previous highs or the pivot point or the middle Bollinger Band or things like that,]]>436falsefullhttps://www.spreaker.com/episode/343-how-to-protect-your-capital--19959112Podcast:

How to Protect Your Capital
In this video:
00:46 – You must preserve your capital
01:08 – To help as many traders as we can
01:37 – 10 years of profitable trades on our membership site
02:51 – Forget about making pips
03:17 – The problem with most traders
Looking to protect and preserve your capital is key to becoming a good trader. Let's talk about that and more right now.
Hey, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 343. I thought I'd come outside today. We're still in Cambridge in the North Island. Cherry blossom throughout the entire street, absolutely beautiful in springtime this time of year. We're moving down to Nelson in the South Island at the beginning of December. So while here, I thought I'd just come outside and take advantage of this. So, if you are on the podcast, sorry, but you can't see the beautiful trees behind me.
You must preserve your capital
Let's get back to the topic in hand about preserving capital. You see, most traders lose capital. It's hard money that you've earned to get into your trading account. Why blow it? Why do stupid things to throw it away? As traders, we've got to understand that we're in a business here. You've also got to understand that the stats suggest that about 90% of traders lose money. So, here at the Forex Trading Coach, we're about turning that around.
To help as many traders as we can
Our mission is to help as many traders as we possibly can. And our mission, also, is to help traders preserve their money, preserve their capital, so they can enjoy trading and understand and gain the benefits that trading offers, but only once you understand and know what you're doing and have confidence in your strategy.
There's many things that we do here at the Forex Trading Coach in order to help our clients, not only have a strategy, of course that works, is that we post daily trades each day of the week.
10 years of profitable trades on our membership site
And over the last 10 years I've been publishing those trades every single day for 10 years of the trading week. And do you know, not one single year have we lost money? Every single year for 10 years we have been profitable.
Now, the power of compounding, and you probably know about it. If you took $100,000 back in February 2010 when I started posting those daily trades, today here into November 2019 your $100,000 with compounding, and only risking half of 1% of your account per trade, your $100,000 would now be worth 1.65 million. Quite outstanding considering they are all trades that have been published. They're all trades that take about maybe 5 to 10 minutes once a day for you to put on your platform. And it just shows the power of compounding, the power of high reward to risk trades and the power of low risk per trade.
And that's, again, comes back to preserving capital. Because we have live webinars. In fact, I'm holding one tonight for clients in the European session. It's night my time. We have trades posted on our forum site. We do all these things that we can to help clients understand what good trading is all about, and to actually help them to earn while they learn.
Forget about making pips
But the other thing is, of course, you never hear us talking about pips. Never do we talk about, "Oh, we've made this number of pips," because it really doesn't matter. For us, it's about having low risk per trade. In other words, a half percent risk per trade maximum. High reward to risk. So, if we're making a three to one, let's say, it means we're risking half a percent and if we have profitable trade, we make a 1.5% account gain. And that is really, really important that you can do that.
The problem with most traders
And also, there's a phrase that someone told me the other day,]]>https://theforextradingcoach.com/?p=11900Sun, 10 Nov 2019 15:59:48 +0000Andrew Mitchem Podcast: How to Protect Your Capital In this video: 00:46 – You must preserve your capital 01:08 – To help as many traders as we can 01:37 – 10 years of profitable trades on our membership site 02:51 – Forget about making pips 03:17 – The...Podcast:

How to Protect Your Capital
In this video:
00:46 – You must preserve your capital
01:08 – To help as many traders as we can
01:37 – 10 years of profitable trades on our membership site
02:51 – Forget about making pips
03:17 – The problem with most traders
Looking to protect and preserve your capital is key to becoming a good trader. Let's talk about that and more right now.
Hey, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 343. I thought I'd come outside today. We're still in Cambridge in the North Island. Cherry blossom throughout the entire street, absolutely beautiful in springtime this time of year. We're moving down to Nelson in the South Island at the beginning of December. So while here, I thought I'd just come outside and take advantage of this. So, if you are on the podcast, sorry, but you can't see the beautiful trees behind me.
You must preserve your capital
Let's get back to the topic in hand about preserving capital. You see, most traders lose capital. It's hard money that you've earned to get into your trading account. Why blow it? Why do stupid things to throw it away? As traders, we've got to understand that we're in a business here. You've also got to understand that the stats suggest that about 90% of traders lose money. So, here at the Forex Trading Coach, we're about turning that around.
To help as many traders as we can
Our mission is to help as many traders as we possibly can. And our mission, also, is to help traders preserve their money, preserve their capital, so they can enjoy trading and understand and gain the benefits that trading offers, but only once you understand and know what you're doing and have confidence in your strategy.
There's many things that we do here at the Forex Trading Coach in order to help our clients, not only have a strategy, of course that works, is that we post daily trades each day of the week.
10 years of profitable trades on our membership site
And over the last 10 years I've been publishing those trades every single day for 10 years of the trading week. And do you know, not one single year have we lost money? Every single year for 10 years we have been profitable.
Now, the power of compounding, and you probably know about it. If you took $100,000 back in February 2010 when I started posting those daily trades, today here into November 2019 your $100,000 with compounding, and only risking half of 1% of your account per trade, your $100,000 would now be worth 1.65 million. Quite outstanding considering they are all trades that have been published. They're all trades that take about maybe 5 to 10 minutes once a day for you to put on your platform. And it just shows the power of compounding, the power of high reward to risk trades and the power of low risk per trade.
And that's, again, comes back to preserving capital. Because we have live webinars. In fact, I'm holding one tonight for clients in the European session. It's night my time. We have trades posted on our forum site. We do all these things that we can to help clients understand what good trading is all about, and to actually help them to earn while they learn.
Forget about making pips
But the other thing is, of course, you never hear us talking about pips. Never do we talk about, "Oh, we've made this number of pips," because it really doesn't matter. For us, it's about having low risk per trade. In other words, a half percent risk per trade maximum. High reward to risk. So, if we're making a three to one, let's say, it means we're risking half a percent and if we have profitable trade, we make a 1.5% account gain. And that is really, really important that you can do that.
The problem with most traders
And also, there's a phrase that someone told me the other day,]]>257falsefullhttps://www.spreaker.com/episode/342-should-you-be-a-forex-scalper--19833951Podcast:

Should You be a Forex Scalper?
In this video:
00:27 – Is scalping a good idea?
01:22 – The reality is different
02:22 – Having small stops is not important
03:09 – Can be affected by news and emotions
03:26 – Sustainable and enjoyable trading
04:26 – Don’t get glued to the charts
05:30 – Don’t forget the US clocks change this weekend
06:13 – Email me your questions
Should you consider being a Forex scalper? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 342.
Is scalping a good idea?
I want to talk all about scalping. You see, I've received an email this week from somebody that said, "Look Andrew I'm new to trading but I've heard about scalping. It looks really, really good. Should I be a scalper?" They said the advantage is that they saw is that your stop/loss needs to be smaller, it's quicker to make profits, to make your pips. You can actually be in and out of a trade really, really quickly. They thought it was just a fantastic way of trading.
Now, the part to take from that is the person who wrote the email hadn't really traded yet. But it just sounds good in theory, doesn't it? The difference is that in reality, to me in my opinion, scalping is not the way to go. Now, I'm not saying it doesn't work and of course it can work. It's like anything. It can work if you want it to and if it suits you as a trader with your personality. However, I would strongly suggest that for most people you don't look at scalping.
The reality is different
You see the thing is your stop/loss being smaller, that doesn't matter if you control your risk properly. Making more pips and making pips quickly, well you're making pips it doesn't matter really to you if you're making a trade in like sort of two minutes or whether it's two hours or 12 hours. It shouldn't really matter. The aim is to actually make the profit, not how quickly you can do it. Also the thought process of scalping of being in and out of the market really, really quickly, the problem is is that reality is that you have things called spreads. Every time you take a trade, the spread or the commission is paid to your broker and if you imagine you're taking, let's say for example a 10 pip profit target, but your spread is two or three pips, that really cuts into the trade. Of course, to make 10 pips you've really got to make 12 or 13 because of your bid and ask differences. So it becomes a real issue. Having small stops is not a great thing.
Having small stops is not important
It might sound good because you think you're losing less, but the thing is that if you actually use correct money management, your position size is what effects the outcome of the trade. It shouldn't really matter whether the stop is 10 pips or 100 pips. It doesn't matter.
So the other hard thing I've always found in the past is that reward to risk out of scalping trades is very, very difficult. If you think you're going to have a small stop/loss of let's say call it 10 pips, and reality is therefore you're only sort of seven or eight pips away from being stopped out as soon as you place the trade, because again the spread, you've got to get yourself like 20 to 30 pips out of that trade to get yourself a two or a three to one reward to risk trade. Now that's all the technical trading side of it.
Can be affected by news and emotions
You get news and events, you get spikes in the spreads, et cetera. All those type of things that really if you have a small stop/loss or you're in and out of a trade real quickly, emotions come into it. All those things come into it that are a bigger picture of reality than the theory.
Sustainable and enjoyable trading
Also, is it sustainable? So here at the Forex Trading Coach,]]>https://theforextradingcoach.com/?p=11834Sun, 03 Nov 2019 14:16:27 +0000Andrew Mitchem Podcast: Should You be a Forex Scalper? In this video: 00:27 – Is scalping a good idea? 01:22 – The reality is different 02:22 – Having small stops is not important 03:09 – Can be affected by news and emotions 03:26 – Sustainable and...Podcast:

Should You be a Forex Scalper?
In this video:
00:27 – Is scalping a good idea?
01:22 – The reality is different
02:22 – Having small stops is not important
03:09 – Can be affected by news and emotions
03:26 – Sustainable and enjoyable trading
04:26 – Don’t get glued to the charts
05:30 – Don’t forget the US clocks change this weekend
06:13 – Email me your questions
Should you consider being a Forex scalper? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 342.
Is scalping a good idea?
I want to talk all about scalping. You see, I've received an email this week from somebody that said, "Look Andrew I'm new to trading but I've heard about scalping. It looks really, really good. Should I be a scalper?" They said the advantage is that they saw is that your stop/loss needs to be smaller, it's quicker to make profits, to make your pips. You can actually be in and out of a trade really, really quickly. They thought it was just a fantastic way of trading.
Now, the part to take from that is the person who wrote the email hadn't really traded yet. But it just sounds good in theory, doesn't it? The difference is that in reality, to me in my opinion, scalping is not the way to go. Now, I'm not saying it doesn't work and of course it can work. It's like anything. It can work if you want it to and if it suits you as a trader with your personality. However, I would strongly suggest that for most people you don't look at scalping.
The reality is different
You see the thing is your stop/loss being smaller, that doesn't matter if you control your risk properly. Making more pips and making pips quickly, well you're making pips it doesn't matter really to you if you're making a trade in like sort of two minutes or whether it's two hours or 12 hours. It shouldn't really matter. The aim is to actually make the profit, not how quickly you can do it. Also the thought process of scalping of being in and out of the market really, really quickly, the problem is is that reality is that you have things called spreads. Every time you take a trade, the spread or the commission is paid to your broker and if you imagine you're taking, let's say for example a 10 pip profit target, but your spread is two or three pips, that really cuts into the trade. Of course, to make 10 pips you've really got to make 12 or 13 because of your bid and ask differences. So it becomes a real issue. Having small stops is not a great thing.
Having small stops is not important
It might sound good because you think you're losing less, but the thing is that if you actually use correct money management, your position size is what effects the outcome of the trade. It shouldn't really matter whether the stop is 10 pips or 100 pips. It doesn't matter.
So the other hard thing I've always found in the past is that reward to risk out of scalping trades is very, very difficult. If you think you're going to have a small stop/loss of let's say call it 10 pips, and reality is therefore you're only sort of seven or eight pips away from being stopped out as soon as you place the trade, because again the spread, you've got to get yourself like 20 to 30 pips out of that trade to get yourself a two or a three to one reward to risk trade. Now that's all the technical trading side of it.
Can be affected by news and emotions
You get news and events, you get spikes in the spreads, et cetera. All those type of things that really if you have a small stop/loss or you're in and out of a trade real quickly, emotions come into it. All those things come into it that are a bigger picture of reality than the theory.
Sustainable and enjoyable trading
Also, is it sustainable? So here at the Forex Trading Coach,]]>387falsefullhttps://www.spreaker.com/episode/341-having-the-right-mindset-to-trade-well--19717480Podcast:

Having the Right Mindset to Trade Well
In this video:
00:29 – Controlling your emotions as a trader
01:12 – Made money every year since 2010
02:06 – The problem with a small sample of trades
02:42 – Look at the bigger picture
04:49 – Understanding win rates
Trade psychology is a massive part of trading, and it will make a huge difference to your overall success if you can master it. Let's talk about that and more right now.
Hey, Forex traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 341.
Controlling your emotions as a trader
I want to talk about a very, very important topic, and it affects probably most all traders. It's all about trade psychology, and how you can control your emotions, and how what goes on in your head has a massive impact on the overall outcome of your Forex trading journey, whether it's going to be successful or not.
It comes down to a few things that you can do to help yourself and improve things. You see, unfortunately, as traders, most people expect instant results, winning trades, high win rates. They don't like losses, they cannot accept losses, and they jump from system to system. Unfortunately, people do this all too often and all too quickly.
Made money every year since 2010
And I even see it here at The Forex Trading Coach. If you did absolutely nothing else, if you joined our course, did nothing else other than copy my daily trade suggestions each day of the week, which was going to take you five minutes once a day at most to do, you'd make money. Absolutely guarantee you'd make money, and how do I say guarantee that? I know that because since 2010, every single year, we have made money on those daily trade suggestions, and so it just shows how big an impact psychology and your mindset is because it doesn't matter how many graphs I can show people of all these winning trades consistently over time. People still decide to offer a couple of losing trades to give up or to change systems, or it doesn't work, and it's a real shame because we've proven that.
The problem with a small sample of trades
You see, the problem is if you strike a system and have like a small sample of trades, and you have some winning trades, you think the system is marvellous. You strike that same system and have a small sample of a few losing trades. You may have been seeing all these previous fantastic trade results that someone like myself has shown you, and then you go and trade the system live, and you have a few losing trades or even a losing month, and people give up. That's a real problem in trading. it really is a massive problem.
Look at the bigger picture
You see, you have to look at trading as a bigger picture, even on our daily trade suggestions. By the way, there's just one timeframe chart. That's all this is. You've got all the other timeframe charts that we talk about that we post on our forums site, on our live webinars. We put the weekly and monthly chart trades on our membership site as well. I'm just talking about one timeframe chart, daily trades. That's all. That has made money every single year since 2010, and so it's just mind-blowing why people don't just continue to follow that. You would have made money month after month.
I went back through my records just now. The biggest losing months since 2010 was in February 2014 when we lost 5.15%. We went backwards just on the daily trades, 5.15% negative. That's the very worst we have done, and here we are almost at the end of 2019. That's the worst because we're trading with low risk, half of 1% risk portrayed, high-reward risk, so it's a proven H, and as I mentioned, one timeframe. That's all that is. You can go on and take the same strategy, the same methodology against all other timeframe charts when you see suitable trade setups.]]>https://theforextradingcoach.com/?p=11797Sun, 27 Oct 2019 14:35:59 +0000Andrew Mitchem Podcast: Having the Right Mindset to Trade Well In this video: 00:29 – Controlling your emotions as a trader 01:12 – Made money every year since 2010 02:06 – The problem with a small sample of trades 02:42 – Look at the bigger picture 04:49 –...Podcast:

Having the Right Mindset to Trade Well
In this video:
00:29 – Controlling your emotions as a trader
01:12 – Made money every year since 2010
02:06 – The problem with a small sample of trades
02:42 – Look at the bigger picture
04:49 – Understanding win rates
Trade psychology is a massive part of trading, and it will make a huge difference to your overall success if you can master it. Let's talk about that and more right now.
Hey, Forex traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 341.
Controlling your emotions as a trader
I want to talk about a very, very important topic, and it affects probably most all traders. It's all about trade psychology, and how you can control your emotions, and how what goes on in your head has a massive impact on the overall outcome of your Forex trading journey, whether it's going to be successful or not.
It comes down to a few things that you can do to help yourself and improve things. You see, unfortunately, as traders, most people expect instant results, winning trades, high win rates. They don't like losses, they cannot accept losses, and they jump from system to system. Unfortunately, people do this all too often and all too quickly.
Made money every year since 2010
And I even see it here at The Forex Trading Coach. If you did absolutely nothing else, if you joined our course, did nothing else other than copy my daily trade suggestions each day of the week, which was going to take you five minutes once a day at most to do, you'd make money. Absolutely guarantee you'd make money, and how do I say guarantee that? I know that because since 2010, every single year, we have made money on those daily trade suggestions, and so it just shows how big an impact psychology and your mindset is because it doesn't matter how many graphs I can show people of all these winning trades consistently over time. People still decide to offer a couple of losing trades to give up or to change systems, or it doesn't work, and it's a real shame because we've proven that.
The problem with a small sample of trades
You see, the problem is if you strike a system and have like a small sample of trades, and you have some winning trades, you think the system is marvellous. You strike that same system and have a small sample of a few losing trades. You may have been seeing all these previous fantastic trade results that someone like myself has shown you, and then you go and trade the system live, and you have a few losing trades or even a losing month, and people give up. That's a real problem in trading. it really is a massive problem.
Look at the bigger picture
You see, you have to look at trading as a bigger picture, even on our daily trade suggestions. By the way, there's just one timeframe chart. That's all this is. You've got all the other timeframe charts that we talk about that we post on our forums site, on our live webinars. We put the weekly and monthly chart trades on our membership site as well. I'm just talking about one timeframe chart, daily trades. That's all. That has made money every single year since 2010, and so it's just mind-blowing why people don't just continue to follow that. You would have made money month after month.
I went back through my records just now. The biggest losing months since 2010 was in February 2014 when we lost 5.15%. We went backwards just on the daily trades, 5.15% negative. That's the very worst we have done, and here we are almost at the end of 2019. That's the worst because we're trading with low risk, half of 1% risk portrayed, high-reward risk, so it's a proven H, and as I mentioned, one timeframe. That's all that is. You can go on and take the same strategy, the same methodology against all other timeframe charts when you see suitable trade setups.]]>383falsefullhttps://www.spreaker.com/episode/340-why-courses-do-not-work--19598190Podcast:

Why Courses Do Not Work
In this video:
00:22 – What do you get with a course?
00:41 – Someone I follow
01:22 – No-one needs more information
01:50 – What do you get at TFTC?
02:52 – Get access to our wisdom and knowledge
03:57 – Contact me with your questions
I'm going to explain to you why courses do not work. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 340.
What do you get with a course?
This is all about why courses do not work. Now, you might be thinking, "Hey Andrew, that's a little bit odd. Bit of a strange topic of conversation coming from you, as someone who is online, who actively has a course. And now you're telling us courses do not work." Let me explain more.
Someone I follow
I follow a guy online who has courses online also. Nothing to do with trading. He's more of a business coach. But an email came through from him yesterday and it's all about why courses do not work. I'd like to just read a little bit from that email to explain further what I mean and how it can also help you.
Here we go. He says, "I bought courses all the way from $7 up to $35,000. Some were great, some were terrible. But after spending over $100,000, I have to confess, courses do not work. But often they do give you something that does work, and that is access." I'll explain more. He goes on to say, "You see, none of us really need more information.
No-one needs more information
We're overwhelmed, overloaded with information. It's everywhere. Most of us are drowning in information. But more information, what that does, that leads to options and options leads to confusion. However, when you have access, that gives you the thing that really initiates change, and that's wisdom." And he says, "Wisdom is simple, applied knowledge and experience. But more information gives you more options or confusion, where a specific wisdom gives you clarity."
What do you get at TFTC?
So it got me thinking. Here at The Forex Trading Coach, what do you really get? Well, of course you'd get a course and a strategy and software and webinars and all that type of thing that you know that you'd get and know that it's good because it's been around for 10 years and it's got a five star rating. But what you really get is exactly like that email says. When you join us at The Forex Trading Coach, what you do get is access to wisdom. You get access to full-time traders. You also get access to other people just like you who've thought about investing in a forex course and actually have gone ahead and done that, who are now actively trading the system.
So you have access to ourselves as full-time traders and mentors and coaches, but you have access to that wisdom of other people all around the world who are sitting at home just like you, who want to become good forex traders. Not everybody wants to become full-time, but people just want to master the art of trading forex. That is the wisdom that you do get access to as part of The Forex Trading Coach community that we have.
Get access to our wisdom and knowledge
When it comes to us as full-time traders, you've got myself who's been trading 16 years, we've got Paul over in America who's been trading since 2005, so 14 years, we've got Mikalai based in London who's been trading since 2012. That's what, seven years. So all up, 37 years between us. I've been coaching for over 10 years, but 37 years of knowledge and wisdom from just the three of us as traders. Then on top of that, all the knowledge and wisdom from active traders just like you.
So have a think about that conversation, that email where he says, "Courses don't work, but they give you access to clarity, access to wisdom." That is really,]]>https://theforextradingcoach.com/?p=11477Sun, 20 Oct 2019 14:52:59 +0000Andrew Mitchem Podcast: Why Courses Do Not Work In this video: 00:22 – What do you get with a course? 00:41 – Someone I follow 01:22 – No-one needs more information 01:50 – What do you get at TFTC? 02:52 – Get access to our wisdom and knowledge 03:57 –...Podcast:

Why Courses Do Not Work
In this video:
00:22 – What do you get with a course?
00:41 – Someone I follow
01:22 – No-one needs more information
01:50 – What do you get at TFTC?
02:52 – Get access to our wisdom and knowledge
03:57 – Contact me with your questions
I'm going to explain to you why courses do not work. Let's talk about that and more right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 340.
What do you get with a course?
This is all about why courses do not work. Now, you might be thinking, "Hey Andrew, that's a little bit odd. Bit of a strange topic of conversation coming from you, as someone who is online, who actively has a course. And now you're telling us courses do not work." Let me explain more.
Someone I follow
I follow a guy online who has courses online also. Nothing to do with trading. He's more of a business coach. But an email came through from him yesterday and it's all about why courses do not work. I'd like to just read a little bit from that email to explain further what I mean and how it can also help you.
Here we go. He says, "I bought courses all the way from $7 up to $35,000. Some were great, some were terrible. But after spending over $100,000, I have to confess, courses do not work. But often they do give you something that does work, and that is access." I'll explain more. He goes on to say, "You see, none of us really need more information.
No-one needs more information
We're overwhelmed, overloaded with information. It's everywhere. Most of us are drowning in information. But more information, what that does, that leads to options and options leads to confusion. However, when you have access, that gives you the thing that really initiates change, and that's wisdom." And he says, "Wisdom is simple, applied knowledge and experience. But more information gives you more options or confusion, where a specific wisdom gives you clarity."
What do you get at TFTC?
So it got me thinking. Here at The Forex Trading Coach, what do you really get? Well, of course you'd get a course and a strategy and software and webinars and all that type of thing that you know that you'd get and know that it's good because it's been around for 10 years and it's got a five star rating. But what you really get is exactly like that email says. When you join us at The Forex Trading Coach, what you do get is access to wisdom. You get access to full-time traders. You also get access to other people just like you who've thought about investing in a forex course and actually have gone ahead and done that, who are now actively trading the system.
So you have access to ourselves as full-time traders and mentors and coaches, but you have access to that wisdom of other people all around the world who are sitting at home just like you, who want to become good forex traders. Not everybody wants to become full-time, but people just want to master the art of trading forex. That is the wisdom that you do get access to as part of The Forex Trading Coach community that we have.
Get access to our wisdom and knowledge
When it comes to us as full-time traders, you've got myself who's been trading 16 years, we've got Paul over in America who's been trading since 2005, so 14 years, we've got Mikalai based in London who's been trading since 2012. That's what, seven years. So all up, 37 years between us. I've been coaching for over 10 years, but 37 years of knowledge and wisdom from just the three of us as traders. Then on top of that, all the knowledge and wisdom from active traders just like you.
So have a think about that conversation, that email where he says, "Courses don't work, but they give you access to clarity, access to wisdom." That is really,]]>250falsefullhttps://www.spreaker.com/episode/339-where-to-place-your-profit-target--19486318Podcast:

Where to Place Your Profit Target
In this video:
00:24 – Trading from Nelson, NZ
00:48 – We talk about stop losses but what about profit targets?
01:30 – What you should not do
02:10 – How do you know where to place your profit target?
04:14 – Trading the longer time frame charts
06:07 – Contact me for more details about how we can help you
Do you know where you should be placing your profit target and why you should be placing your profit target at that level? Let's talk about that and more right now.
Hey, traders. It's Andrew Mitchem here from The Forex Trading Coach with video and podcast number 339.
Trading from Nelson, NZ
Coming to you from Nelson in the South Island where we're just setting up here. I've got a webinar tonight for clients, and just setting up in a new property that we're moving into, and not quite there yet. We'll be here properly in a couple of months from now, but just getting things set up in the office here. Hence the change in the background and just the two screens, not four.
We talk about stop losses but what about profit targets?
So yeah, we want to talk about profit targets. We talk a lot about stop losses. And stop losses, of course, are very important, because without a stop loss you're not protecting your trade, and without knowing where you're putting your stop loss, you don't know the position size you need, the lot size you need to keep your risk equal.
But also another very difficult part of trading is where to put your profit target and why, and how do you decide where to put your profit target? What determines that? Does it determine by the currency pair, the timeframe, the conditions at the time? What is it that you do to determine that? And you can't just sort of make it up on the go. You've got to have a bit of a plan about this.
What you should not do
And also, we talk a lot about high reward to risk trades, and it's very important that you don't just go, "I've got a 20 pip stop loss, so I need to put a 40 pip or a 60 pip profit target," simply because you hear me talk about you need a two or three to one reward to risk trade. It's important that you don't do that.
Yes, you need high reward to risk out of your trade, but you need to also put your profit target at a level that's a sensible level for a reason for that trade at that time. And that might be different depending on the currency pair or the timeframe, market conditions, et cetera. So how do you know?
How do you know where to place your profit target?
So it's really important that we get this right, because, of course, it can make or break your trading performance. And the whole point of a profit target is is when the price gets there, the market closes you for a profit and you haven't got to be at your computer worrying about the trade being open and those type of things. So it's important that we do that.
So, how do we approach that? Well, because we're technical traders, we're always looking at price action and we're looking at charts. It'd be very difficult as a news trader, I would imagine, to know exactly where to put your profit target, because it depends on the reaction of that news, things like that. Whereas technical traders, we've got a lot of things that's actually in our favour. We can see, let's say you're taking a buy trade, of where the price last bounced. For example, where's the next likely resistance level?
But the approach that we take at The Forex Trading Coach is two-fold. So if we're trading, and we split our trading up. If we're trading one-hour charts and shorter, which, to be honest, personally I don't do a lot of, but if we were, we're looking at current market momentum, we're looking at what's happening in the market right now, because on an hour chart or a 15-minute chart, you don't want to be worrying about retracements and ...]]>https://theforextradingcoach.com/?p=11441Sun, 13 Oct 2019 13:06:27 +0000Andrew Mitchem Podcast: Where to Place Your Profit Target In this video: 00:24 – Trading from Nelson, NZ 00:48 – We talk about stop losses but what about profit targets? 01:30 – What you should not do 02:10 – How do you know where to place your profit target?...Podcast:

Where to Place Your Profit Target
In this video:
00:24 – Trading from Nelson, NZ
00:48 – We talk about stop losses but what about profit targets?
01:30 – What you should not do
02:10 – How do you know where to place your profit target?
04:14 – Trading the longer time frame charts
06:07 – Contact me for more details about how we can help you
Do you know where you should be placing your profit target and why you should be placing your profit target at that level? Let's talk about that and more right now.
Hey, traders. It's Andrew Mitchem here from The Forex Trading Coach with video and podcast number 339.
Trading from Nelson, NZ
Coming to you from Nelson in the South Island where we're just setting up here. I've got a webinar tonight for clients, and just setting up in a new property that we're moving into, and not quite there yet. We'll be here properly in a couple of months from now, but just getting things set up in the office here. Hence the change in the background and just the two screens, not four.
We talk about stop losses but what about profit targets?
So yeah, we want to talk about profit targets. We talk a lot about stop losses. And stop losses, of course, are very important, because without a stop loss you're not protecting your trade, and without knowing where you're putting your stop loss, you don't know the position size you need, the lot size you need to keep your risk equal.
But also another very difficult part of trading is where to put your profit target and why, and how do you decide where to put your profit target? What determines that? Does it determine by the currency pair, the timeframe, the conditions at the time? What is it that you do to determine that? And you can't just sort of make it up on the go. You've got to have a bit of a plan about this.
What you should not do
And also, we talk a lot about high reward to risk trades, and it's very important that you don't just go, "I've got a 20 pip stop loss, so I need to put a 40 pip or a 60 pip profit target," simply because you hear me talk about you need a two or three to one reward to risk trade. It's important that you don't do that.
Yes, you need high reward to risk out of your trade, but you need to also put your profit target at a level that's a sensible level for a reason for that trade at that time. And that might be different depending on the currency pair or the timeframe, market conditions, et cetera. So how do you know?
How do you know where to place your profit target?
So it's really important that we get this right, because, of course, it can make or break your trading performance. And the whole point of a profit target is is when the price gets there, the market closes you for a profit and you haven't got to be at your computer worrying about the trade being open and those type of things. So it's important that we do that.
So, how do we approach that? Well, because we're technical traders, we're always looking at price action and we're looking at charts. It'd be very difficult as a news trader, I would imagine, to know exactly where to put your profit target, because it depends on the reaction of that news, things like that. Whereas technical traders, we've got a lot of things that's actually in our favour. We can see, let's say you're taking a buy trade, of where the price last bounced. For example, where's the next likely resistance level?
But the approach that we take at The Forex Trading Coach is two-fold. So if we're trading, and we split our trading up. If we're trading one-hour charts and shorter, which, to be honest, personally I don't do a lot of, but if we were, we're looking at current market momentum, we're looking at what's happening in the market right now, because on an hour chart or a 15-minute chart, you don't want to be worrying about retracements and ...]]>426falsefullhttps://www.spreaker.com/episode/338-you-must-have-patience-as-a-trader--19376348Podcast:

You Must Have Patience as a Trader
In this video:
00:23 – The importance of having patience
00:48 – Examples from this week
02:02 – Don’t take trades just to undo your good trades
03:06 – Less is more
03:46 – What will happen next week?
I'm going to explain the importance of patience as a Forex trader and why you should not chase trades. Let's talk about that and more right now.
Hey, Forex traders. Andrew Mitchem here from the Forex Trading Coach with video and podcast number 338.
The importance of having patience
I want to talk all about having patience as a Forex trader. It's really important. You see, we work in this business, this industry that's online, that's high paced, that's open 24 hours a day, five days a week, and we're always there looking for traits, or that's what most people think they should do. In fact, it's the opposite. You need to be patient, you need to wait for those high quality setups, and often doing nothing is the best thing you can do.
Examples from this week
I'll give you a great example. Just this week, we've got leading into the US non-farm payrolls, which is the US monthly job release later today. But up until now, this week's been quite a difficult week to trade, being a lot of quiet market conditions, not a lot of very good price action there.
And so for us personally at the Forex Trading Couch, we've had a fantastic week trading the weekly chats. We've got a pound year in trade that's up 3.4 to one right now. It's a 1.7% account gain. Trade's still open, and we've closed on a weekly chart trade from last week, which was an Aussie US dollar trade, 2.8 to one or 1.4% account gain, and also we've got a New Zealand yen trade open at about a one-to-one right now. So just on those three trades, fantastic gains, yet we've done hardly any trading. We've had a few trades on the dailies and other timeframe charts, but it's been particularly quiet, but we're still in very good profit and that's the important thing.
This week it's been and last week it's been the weekly trades that are done very well. Other weeks it's different timeframes.
Don’t take trades just to undo your good trades
But the important thing is it comes back to that being patient, don't … think of it this way. What's the point in taking lots of trades this week that end up losing just to do and give back to the market all that good results that you've had from just two or three trades? Why would you do that? It just doesn't make sense. And so patience is key. Wait for high quality setups. Don't feel you have to be in the market all the time in order to be a trader and to do well. It's about the high quality, A, A-plus grade setups, having all those things in your favour according to your strategy.
Like I said, you know, some weeks you'll get nothing. A lot will happen. We've had indecision candles, we've had some very big moves, but not really good setups. Other weeks you're just going to get trade after trade after trade, and when that happens, take them. That's the thing. You've kind of got to make hay when the sun shines, to use a phrase like that from my early agricultural days. But it's really important that you do that.
Less is more
But don't go forcing trades. At the end of the day, if you can make two or three percent in a week, it doesn't matter if you made those from a hundred trades or from four or five really good trades. It doesn't really matter apart from I know that if I can make that on four or five really good trades, I've paid less spread, I've had far less work to do, far more enjoyable trading week, less stress, less time, everything else.
It's which way you want to go. Do you want to be in the market all the time constantly being stressed, constantly looking for new trades all the time, just being constantly looking for new things,]]>https://theforextradingcoach.com/?p=11383Sun, 06 Oct 2019 12:36:20 +0000Andrew Mitchem Podcast: You Must Have Patience as a Trader In this video: 00:23 – The importance of having patience 00:48 – Examples from this week 02:02 – Don’t take trades just to undo your good trades 03:06 – Less is more 03:46 – What will happen next week?...Podcast:

You Must Have Patience as a Trader
In this video:
00:23 – The importance of having patience
00:48 – Examples from this week
02:02 – Don’t take trades just to undo your good trades
03:06 – Less is more
03:46 – What will happen next week?
I'm going to explain the importance of patience as a Forex trader and why you should not chase trades. Let's talk about that and more right now.
Hey, Forex traders. Andrew Mitchem here from the Forex Trading Coach with video and podcast number 338.
The importance of having patience
I want to talk all about having patience as a Forex trader. It's really important. You see, we work in this business, this industry that's online, that's high paced, that's open 24 hours a day, five days a week, and we're always there looking for traits, or that's what most people think they should do. In fact, it's the opposite. You need to be patient, you need to wait for those high quality setups, and often doing nothing is the best thing you can do.
Examples from this week
I'll give you a great example. Just this week, we've got leading into the US non-farm payrolls, which is the US monthly job release later today. But up until now, this week's been quite a difficult week to trade, being a lot of quiet market conditions, not a lot of very good price action there.
And so for us personally at the Forex Trading Couch, we've had a fantastic week trading the weekly chats. We've got a pound year in trade that's up 3.4 to one right now. It's a 1.7% account gain. Trade's still open, and we've closed on a weekly chart trade from last week, which was an Aussie US dollar trade, 2.8 to one or 1.4% account gain, and also we've got a New Zealand yen trade open at about a one-to-one right now. So just on those three trades, fantastic gains, yet we've done hardly any trading. We've had a few trades on the dailies and other timeframe charts, but it's been particularly quiet, but we're still in very good profit and that's the important thing.
This week it's been and last week it's been the weekly trades that are done very well. Other weeks it's different timeframes.
Don’t take trades just to undo your good trades
But the important thing is it comes back to that being patient, don't … think of it this way. What's the point in taking lots of trades this week that end up losing just to do and give back to the market all that good results that you've had from just two or three trades? Why would you do that? It just doesn't make sense. And so patience is key. Wait for high quality setups. Don't feel you have to be in the market all the time in order to be a trader and to do well. It's about the high quality, A, A-plus grade setups, having all those things in your favour according to your strategy.
Like I said, you know, some weeks you'll get nothing. A lot will happen. We've had indecision candles, we've had some very big moves, but not really good setups. Other weeks you're just going to get trade after trade after trade, and when that happens, take them. That's the thing. You've kind of got to make hay when the sun shines, to use a phrase like that from my early agricultural days. But it's really important that you do that.
Less is more
But don't go forcing trades. At the end of the day, if you can make two or three percent in a week, it doesn't matter if you made those from a hundred trades or from four or five really good trades. It doesn't really matter apart from I know that if I can make that on four or five really good trades, I've paid less spread, I've had far less work to do, far more enjoyable trading week, less stress, less time, everything else.
It's which way you want to go. Do you want to be in the market all the time constantly being stressed, constantly looking for new trades all the time, just being constantly looking for new things,]]>260falsefullhttps://www.spreaker.com/episode/337-the-best-indicator-to-use-as-a-forex-trader--19280713Podcast:

The Best Indicator to Use as A Forex Trader
In this video:
00:23 – Indicators and the best one to use
01:20 – The problem with traders and indicators
01:56 – What works for you?
02:23 – Starting with a blank chart and look at the price
04:00 – Use horizontal lines
04:40 – Send me your trading questions
What is the best indicator you can use as a Forex trader? Let's talk about that and more right now.
Hey Forex traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 337.
Indicators and the best one to use
And I want to explain all about indicators and more importantly, which is the very, very best indicator that you can use to be a profitable Forex trader. So let's talk about that. There's a lot of information here.
And it all stems back to when we start trading. And when we start trading, and I did exactly the same, you put your charts up, you find a trading platform, let's say MT4, it was MT3 when I started, or it may have been two. And you put the indicators on and you just get completely mesmerised by them. I was, I was completely mesmerised by how powerful these indicators were, how amazing they were. It's like nothing I'd ever seen before.
And all I needed to do was follow this line and when that one crossed over that and it reached this certain level, then if I just followed those and did nothing else, then there was nothing sure that I was going to be a multi, multimillionaire from my trading really quickly. Absolutely guaranteed.
The problem with traders and indicators
You're thinking there's a catch and of course there's a cash. The problem is that doesn't happen and like I said, I'm just saying that I've been through this as well.
So if you're in that position right now, believe me, I know exactly what you're thinking because these indicators do look really cool. The problem is is that none of them really work by themselves and that becomes the problem. There is no one indicator that is the magic pill. Sorry to say it, but it's true. You cannot find any indicator. They've all got some merits to some degree, but by themselves they're all completely useless, the whole lot of them.
What works for you?
And so you have to work out something that works for you because most people will then go and think that they can alter the parameters of an indicator or make it more reactive or slightly slower. Or they'll have some magical formula of all these combinations of indicators that's suddenly going to tell them this magic secret answer when to enter and exit a trade that no one else has ever discovered before. And again, if you've been doing this for a while you know exactly what I mean, because I know you would have done the same yourself.
Starting with a blank chart and look at the price
So bring all that back to what changed things around for me. And it was when I actually got rid of all the indicators of my charts and I actually started to look at the price. You see the problem is, is when you have all these indicators together, everybody ignores the price on the right hand side column of your charts. How often do you actually look at what the price of a currency is? It's probably hardly at all. It's probably never for some people. And that becomes the danger.
So what I did is I eliminated all the indicators. I looked at the price and I looked at where the price was moving. I then started to study candles. But also when it comes to indicators, yes I do use them but for me indicators are generally horizontal level lines because a horizontal line is the same for everybody. It's there set, when a price has hit a certain level or it's bounced at a round number or it's hit the pivot point or something like that for the day, then that's a level that everybody can use. And I don't have to be kind of like subjective by it because it's an ac...]]>https://theforextradingcoach.com/?p=11341Sun, 29 Sep 2019 13:41:59 +0000Andrew Mitchem Podcast: The Best Indicator to Use as A Forex Trader In this video: 00:23 – Indicators and the best one to use 01:20 – The problem with traders and indicators 01:56 – What works for you? 02:23 – Starting with a blank chart and look at the price...Podcast:

The Best Indicator to Use as A Forex Trader
In this video:
00:23 – Indicators and the best one to use
01:20 – The problem with traders and indicators
01:56 – What works for you?
02:23 – Starting with a blank chart and look at the price
04:00 – Use horizontal lines
04:40 – Send me your trading questions
What is the best indicator you can use as a Forex trader? Let's talk about that and more right now.
Hey Forex traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 337.
Indicators and the best one to use
And I want to explain all about indicators and more importantly, which is the very, very best indicator that you can use to be a profitable Forex trader. So let's talk about that. There's a lot of information here.
And it all stems back to when we start trading. And when we start trading, and I did exactly the same, you put your charts up, you find a trading platform, let's say MT4, it was MT3 when I started, or it may have been two. And you put the indicators on and you just get completely mesmerised by them. I was, I was completely mesmerised by how powerful these indicators were, how amazing they were. It's like nothing I'd ever seen before.
And all I needed to do was follow this line and when that one crossed over that and it reached this certain level, then if I just followed those and did nothing else, then there was nothing sure that I was going to be a multi, multimillionaire from my trading really quickly. Absolutely guaranteed.
The problem with traders and indicators
You're thinking there's a catch and of course there's a cash. The problem is that doesn't happen and like I said, I'm just saying that I've been through this as well.
So if you're in that position right now, believe me, I know exactly what you're thinking because these indicators do look really cool. The problem is is that none of them really work by themselves and that becomes the problem. There is no one indicator that is the magic pill. Sorry to say it, but it's true. You cannot find any indicator. They've all got some merits to some degree, but by themselves they're all completely useless, the whole lot of them.
What works for you?
And so you have to work out something that works for you because most people will then go and think that they can alter the parameters of an indicator or make it more reactive or slightly slower. Or they'll have some magical formula of all these combinations of indicators that's suddenly going to tell them this magic secret answer when to enter and exit a trade that no one else has ever discovered before. And again, if you've been doing this for a while you know exactly what I mean, because I know you would have done the same yourself.
Starting with a blank chart and look at the price
So bring all that back to what changed things around for me. And it was when I actually got rid of all the indicators of my charts and I actually started to look at the price. You see the problem is, is when you have all these indicators together, everybody ignores the price on the right hand side column of your charts. How often do you actually look at what the price of a currency is? It's probably hardly at all. It's probably never for some people. And that becomes the danger.
So what I did is I eliminated all the indicators. I looked at the price and I looked at where the price was moving. I then started to study candles. But also when it comes to indicators, yes I do use them but for me indicators are generally horizontal level lines because a horizontal line is the same for everybody. It's there set, when a price has hit a certain level or it's bounced at a round number or it's hit the pivot point or something like that for the day, then that's a level that everybody can use. And I don't have to be kind of like subjective by it because it's an ac...]]>299falsefullhttps://www.spreaker.com/episode/336-what-s-the-best-time-of-day-to-place-trades--19187744Podcast:

What’s the Best Time of Day to Place Trades?
In this video:
00:24 – When should I enter trades?
00:55 – How the FX day runs
01:20 – Do I have to trade the London and US Sessions?
02:12 – Is trading the Asian session a disadvantage?
02:32 – The way we trade at TFTC
03:04 – Look to take retracement orders
03:44 – Look at the close of a candle for a new trade
04:18 – The best time to place trades
05:14 – Ask me a question for a future video and podcast
What's the best time of day for you to place your trades as a Forex trader? Let's talk about that and more right now.
Hey traders, it's Andrew Mitchem here from the Forex Trading Coach with video and podcast number 336.
When should I enter trades?
And it's a question that I get asked very often, especially by newer traders. The question is this, is that, “Look, I know the market's open 24 hours a day. I know that it's open five days a week, but really what is the best time for me as a trader to go and enter my trades?” It's a confusing subject because as I said, we know it's a 24 hour market, but we also get told so often about different times of the day when there's more price action than less.
How the FX day runs
So the day starts in the Auckland session and then which is in New Zealand and through to the Sydney session, and through to Tokyo that's generally classed altogether as the Asian session, then as the markets then go through to the Middle East and then through to Europe, London and then across to the US with the New York market opening last.
Do I have to trade the London and US Sessions?
When you think about it, when it's say middle of the day here in New Zealand, it's the middle of the evening, the nighttime in London. So a lot of people think that that's a disadvantage because a lot of people think that they have to be at their computer when there are certain trading sessions going on. In other words, a lot of people think they have to be at their computer during the London session, so for me that means evening time. If you're in America, that means being up at two or three o'clock in the morning. Then also people leading on from that think they need to be there at the swap over between London and New York.
For me that's two o'clock in the morning also, and I'm not doing that. You don't have to do that. But you can see where the confusion comes because that's what people think they have to do. They have to be there when there's the most price action and volatility, and news announcements.
Is trading the Asian session a disadvantage?
Likewise, for people this side of the world, they think, “Well, it's my daytime during the Asian session. Well, nothing happens during the Asian session. It's usually pretty much dead.” The odd day something will happen, but most of the time, not a lot happens in the Asian session, and so people see that as a disadvantage.
The way we trade at TFTC
However, forget all that thinking and start again with the thinking. Because the way that we trade is that we only take a trade or look for a new trade upon the close of a candle.
It doesn't matter what the candle length is. It could be a monthly chart, it could be an hourly chart, it really does not matter. But the beauty of trading that way is you know when to go and have a look at your charts. So we know that the daily candles close at 5:00 PM Eastern standard time, that's New York time every day. So you know when to go and look at your charts.
Look to take retracement orders
Because of the way that we trade, we take retracement orders. We don't even have to take a market order. You don't have to, so you don't have to be there bang on five o'clock New York time or five 30 you don't have to be there right then. We're taking retracement orders, and the great thing with a retracement order is we're not even the...]]>https://theforextradingcoach.com/?p=11291Sun, 22 Sep 2019 13:28:32 +0000Andrew Mitchem Podcast: What’s the Best Time of Day to Place Trades? In this video: 00:24 – When should I enter trades? 00:55 – How the FX day runs 01:20 – Do I have to trade the London and US Sessions? 02:12 – Is trading the Asian session a disadvantage? 02:32...Podcast:

What’s the Best Time of Day to Place Trades?
In this video:
00:24 – When should I enter trades?
00:55 – How the FX day runs
01:20 – Do I have to trade the London and US Sessions?
02:12 – Is trading the Asian session a disadvantage?
02:32 – The way we trade at TFTC
03:04 – Look to take retracement orders
03:44 – Look at the close of a candle for a new trade
04:18 – The best time to place trades
05:14 – Ask me a question for a future video and podcast
What's the best time of day for you to place your trades as a Forex trader? Let's talk about that and more right now.
Hey traders, it's Andrew Mitchem here from the Forex Trading Coach with video and podcast number 336.
When should I enter trades?
And it's a question that I get asked very often, especially by newer traders. The question is this, is that, “Look, I know the market's open 24 hours a day. I know that it's open five days a week, but really what is the best time for me as a trader to go and enter my trades?” It's a confusing subject because as I said, we know it's a 24 hour market, but we also get told so often about different times of the day when there's more price action than less.
How the FX day runs
So the day starts in the Auckland session and then which is in New Zealand and through to the Sydney session, and through to Tokyo that's generally classed altogether as the Asian session, then as the markets then go through to the Middle East and then through to Europe, London and then across to the US with the New York market opening last.
Do I have to trade the London and US Sessions?
When you think about it, when it's say middle of the day here in New Zealand, it's the middle of the evening, the nighttime in London. So a lot of people think that that's a disadvantage because a lot of people think that they have to be at their computer when there are certain trading sessions going on. In other words, a lot of people think they have to be at their computer during the London session, so for me that means evening time. If you're in America, that means being up at two or three o'clock in the morning. Then also people leading on from that think they need to be there at the swap over between London and New York.
For me that's two o'clock in the morning also, and I'm not doing that. You don't have to do that. But you can see where the confusion comes because that's what people think they have to do. They have to be there when there's the most price action and volatility, and news announcements.
Is trading the Asian session a disadvantage?
Likewise, for people this side of the world, they think, “Well, it's my daytime during the Asian session. Well, nothing happens during the Asian session. It's usually pretty much dead.” The odd day something will happen, but most of the time, not a lot happens in the Asian session, and so people see that as a disadvantage.
The way we trade at TFTC
However, forget all that thinking and start again with the thinking. Because the way that we trade is that we only take a trade or look for a new trade upon the close of a candle.
It doesn't matter what the candle length is. It could be a monthly chart, it could be an hourly chart, it really does not matter. But the beauty of trading that way is you know when to go and have a look at your charts. So we know that the daily candles close at 5:00 PM Eastern standard time, that's New York time every day. So you know when to go and look at your charts.
Look to take retracement orders
Because of the way that we trade, we take retracement orders. We don't even have to take a market order. You don't have to, so you don't have to be there bang on five o'clock New York time or five 30 you don't have to be there right then. We're taking retracement orders, and the great thing with a retracement order is we're not even the...]]>329falsefullhttps://www.spreaker.com/episode/335-what-makes-a-good-forex-trader--19107339Podcast:

What Makes a Good Forex Trader?
In this video:
00:24 – Characteristics of a good Forex trader
01:08 – Results from trading and travelling
01:56 – The Person, the Trader
02:31 – The amount of work behind the scenes
03:05 – What you need to become a good trader
05:15 – Don’t be scared to take a trade
05:58 – Forget the money, focus on the percentages
06:58 – Contact me if you have any questions
So you want to become a forex trader, but what makes a really good forex trader? Let's discuss that and more right now.
Hey traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 335.
Characteristics of a good Forex trader
And I want to give you some information about what makes not just an ordinary trader, but what makes a really, really good forex trader. What characteristics do they have that other traders don't have? Because everybody has the dream when they start trading of flashy, fast cars, or beaches, or travelling, and all those kind of things. And look, it can be done because it doesn't matter whether you want to be trading for the enjoyment of it, for the passive income, or for a full time career because you hate your job. It doesn't really matter, any of those, because there's characteristics that make good traders and bad traders.
Results from trading and travelling
And if you've been following me over the last few months, you would know that in July I had a family holiday, or vacation, if you're in the U.S., over to the U.K. and Europe, and in that time I traded for 10 to 20 minutes once a day, took the trades that I placed on my membership site, and we made over 6% in the three weeks I was away and made another 6% in the two weeks that I got back. If you watched my video and podcast from last week, you'd know that we made plus 7.4% in the week on the membership site, all with low risk, by the way. And this week, we're up by 1.7%. So it can be done, and the trades are there, the setting up; everything's all able to make your money. That's not the difficult part.
Results from trading and travelling
The difficult part really is about the person behind the scenes, the trader. You see, we all see sports people or musicians, people that we idolise, and we see them … whether you watch tennis or soccer or cricket, whatever it might be, or whether you watch your favourite band, your guitar player, your drummer, and we will idolise them. We all think, "Wow, wouldn't it be awesome to be like them," or, "I can be like them. Wouldn't it be amazing to be up on stage playing guitar or be the lead singer and everybody just idolising you?"
The amount of work behind the scenes
The problem is, is that we fail to recognise all the work that goes into their lives, get them to have those skills to get to that stage where they are so good. And it's a big failing, I suppose, that we see the instant answer everywhere with modern technology and social media, et cetera. And if you're the sort of person that gets excited by the next shiny object, then trading really is not for you because it's likely that you're not going to end up having the right characteristics.
What you need to become a good trader
Now what you do need to be a good trader is a number of things, and I've made a list of them here, in no particular order. I put strict. You have to be strict. You have to be strict with your strategy and sticking to it. You have to be disciplined of trading sort of when your strategy suggests you need to be trading, and keep doing it. You can't go, "Oh, yesterday I had a terrible day, I'm not going to bother trading today." If the trades are there, you take the trades. You've got to be able to study. Like the sportsman, like the musician, none of this comes instantly.]]>https://theforextradingcoach.com/?p=11249Sun, 15 Sep 2019 13:00:18 +0000Andrew Mitchem Podcast: What Makes a Good Forex Trader? In this video: 00:24 – Characteristics of a good Forex trader 01:08 – Results from trading and travelling 01:56 – The Person, the Trader 02:31 – The amount of work behind the scenes 03:05 – What...Podcast:

What Makes a Good Forex Trader?
In this video:
00:24 – Characteristics of a good Forex trader
01:08 – Results from trading and travelling
01:56 – The Person, the Trader
02:31 – The amount of work behind the scenes
03:05 – What you need to become a good trader
05:15 – Don’t be scared to take a trade
05:58 – Forget the money, focus on the percentages
06:58 – Contact me if you have any questions
So you want to become a forex trader, but what makes a really good forex trader? Let's discuss that and more right now.
Hey traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 335.
Characteristics of a good Forex trader
And I want to give you some information about what makes not just an ordinary trader, but what makes a really, really good forex trader. What characteristics do they have that other traders don't have? Because everybody has the dream when they start trading of flashy, fast cars, or beaches, or travelling, and all those kind of things. And look, it can be done because it doesn't matter whether you want to be trading for the enjoyment of it, for the passive income, or for a full time career because you hate your job. It doesn't really matter, any of those, because there's characteristics that make good traders and bad traders.
Results from trading and travelling
And if you've been following me over the last few months, you would know that in July I had a family holiday, or vacation, if you're in the U.S., over to the U.K. and Europe, and in that time I traded for 10 to 20 minutes once a day, took the trades that I placed on my membership site, and we made over 6% in the three weeks I was away and made another 6% in the two weeks that I got back. If you watched my video and podcast from last week, you'd know that we made plus 7.4% in the week on the membership site, all with low risk, by the way. And this week, we're up by 1.7%. So it can be done, and the trades are there, the setting up; everything's all able to make your money. That's not the difficult part.
Results from trading and travelling
The difficult part really is about the person behind the scenes, the trader. You see, we all see sports people or musicians, people that we idolise, and we see them … whether you watch tennis or soccer or cricket, whatever it might be, or whether you watch your favourite band, your guitar player, your drummer, and we will idolise them. We all think, "Wow, wouldn't it be awesome to be like them," or, "I can be like them. Wouldn't it be amazing to be up on stage playing guitar or be the lead singer and everybody just idolising you?"
The amount of work behind the scenes
The problem is, is that we fail to recognise all the work that goes into their lives, get them to have those skills to get to that stage where they are so good. And it's a big failing, I suppose, that we see the instant answer everywhere with modern technology and social media, et cetera. And if you're the sort of person that gets excited by the next shiny object, then trading really is not for you because it's likely that you're not going to end up having the right characteristics.
What you need to become a good trader
Now what you do need to be a good trader is a number of things, and I've made a list of them here, in no particular order. I put strict. You have to be strict. You have to be strict with your strategy and sticking to it. You have to be disciplined of trading sort of when your strategy suggests you need to be trading, and keep doing it. You can't go, "Oh, yesterday I had a terrible day, I'm not going to bother trading today." If the trades are there, you take the trades. You've got to be able to study. Like the sportsman, like the musician, none of this comes instantly.]]>433falsefullhttps://www.spreaker.com/episode/334-another-7-4-gain-this-week--19038323Podcast:

Another +7.4% Gain This Week
In this video:
00:28 – A large gain of +7.4% so far this week
01:01 – Trading different time frame charts
01:25 – Trades from this week
03:11 – Open trades still in profit of +1.2%
03:55 – Sticking to your strategy
04:38 – Your comments and questions
05:02 – Earning while you are learning
We've made a plus 7.4% account gain so far this week. I'm going to share with you those trades, and also explain the importance of sticking to your trading strategy. Let's get into it right now.
Hi, Forex traders, Andrew Mitchem here from the Forex Trading Coach video and podcast number 334, and that's right, you heard it right.
A large gain of +7.4% so far this week
We are up plus 7.4% so far this week still with a trading day to go on our close trades, and we've got open trades of another plus 1.2%, so almost at 10% just for this week. I'm going to share those trades with you, but also more importantly, remember the last couple of weeks on the videos on podcasts, I've talked about the importance of a second tier trading strategy and also having the ability to trade multiple timeframe charts? This week yet again has illustrated that importance.
Trading different time frame charts
The last couple of weeks I've said, “Look, there've not been too many high quality trade setups on the daily charts.” This week's completely different, fantastic trade setups, and we've had some great profitable trades. I'd like to just share those with you. By the way, all of these have been taken live, and all of these have been posted in advance of the market moving on our membership site for all of our clients to follow, earn from, and learn from.
Trades from this week
So we had a sell trade on the Euro/New Zealand Dollar. Our market order obviously got filled because it's at the market, but our retracement order got filled. Both were great trades overall with quarter percent risk on each. We made a plus 1.75% gain on our count from just that one position, two trades, one overall trade set up. We then also did exactly the same on the US/Swiss Franc. We had a sell trade on that. The market and retracement order both hit the full profit target for a plus 0.95%, so almost a 1% gain there.
We had a small loss on a market order on the Pound/Canadian dollar, and that lost us a quarter of 1%. We're risking quarter percent at the market, quarter percent at retracement. We then had a fantastic trade at 2.1 to one trade on the market order on the New Zealand US dollar just yesterday, made us a half of 1%. Our retracement order failed to get filled by just one pips, so agonisingly close, but it didn't, but we still took half percent on that. We had our breakout strategy that made another 1.5% gain this week. The Euro Pound weekly chart trade that I've been talking about for the last two or three weeks closed for a 3.3 to one reward to risk or in other words at 1.65% account gain. We've also posted on the membership site a fantastic six hour chart trade, and we discussed it on our live webinar just yesterday posted on our forum site in advance of the price getting filled, and that was a six hour chart trade Aussie/New Zealand buyer trade 2.6 to one, or in other words a 1.3% gain on that trade also.
Open trades still in profit of +1.2%
Also, on top of that, we've got an open trade on the Pound New Zealand, which is up half of 1% right now as I'm speaking to you. I've got two trades on the weekly charts, US/Yen and Aussie/Franc up 0.7%. So overall, put all that together, we've made 7.4% on close trades and up 1.2% on open trades, 9.6% gain just on those trades, just on the membership site, just for this week. The Euro Pound was a few weeks ago. We took it but it's closed, and we profited from that full.
profit right now. That was the weekly chart trade,]]>https://theforextradingcoach.com/?p=11225Sun, 08 Sep 2019 12:47:55 +0000Andrew Mitchem Podcast: Another +7.4% Gain This Week In this video: 00:28 – A large gain of +7.4% so far this week 01:01 – Trading different time frame charts 01:25 – Trades from this week 03:11 – Open trades still in profit of +1.2% 03:55 – Sticking to...Podcast:

Another +7.4% Gain This Week
In this video:
00:28 – A large gain of +7.4% so far this week
01:01 – Trading different time frame charts
01:25 – Trades from this week
03:11 – Open trades still in profit of +1.2%
03:55 – Sticking to your strategy
04:38 – Your comments and questions
05:02 – Earning while you are learning
We've made a plus 7.4% account gain so far this week. I'm going to share with you those trades, and also explain the importance of sticking to your trading strategy. Let's get into it right now.
Hi, Forex traders, Andrew Mitchem here from the Forex Trading Coach video and podcast number 334, and that's right, you heard it right.
A large gain of +7.4% so far this week
We are up plus 7.4% so far this week still with a trading day to go on our close trades, and we've got open trades of another plus 1.2%, so almost at 10% just for this week. I'm going to share those trades with you, but also more importantly, remember the last couple of weeks on the videos on podcasts, I've talked about the importance of a second tier trading strategy and also having the ability to trade multiple timeframe charts? This week yet again has illustrated that importance.
Trading different time frame charts
The last couple of weeks I've said, “Look, there've not been too many high quality trade setups on the daily charts.” This week's completely different, fantastic trade setups, and we've had some great profitable trades. I'd like to just share those with you. By the way, all of these have been taken live, and all of these have been posted in advance of the market moving on our membership site for all of our clients to follow, earn from, and learn from.
Trades from this week
So we had a sell trade on the Euro/New Zealand Dollar. Our market order obviously got filled because it's at the market, but our retracement order got filled. Both were great trades overall with quarter percent risk on each. We made a plus 1.75% gain on our count from just that one position, two trades, one overall trade set up. We then also did exactly the same on the US/Swiss Franc. We had a sell trade on that. The market and retracement order both hit the full profit target for a plus 0.95%, so almost a 1% gain there.
We had a small loss on a market order on the Pound/Canadian dollar, and that lost us a quarter of 1%. We're risking quarter percent at the market, quarter percent at retracement. We then had a fantastic trade at 2.1 to one trade on the market order on the New Zealand US dollar just yesterday, made us a half of 1%. Our retracement order failed to get filled by just one pips, so agonisingly close, but it didn't, but we still took half percent on that. We had our breakout strategy that made another 1.5% gain this week. The Euro Pound weekly chart trade that I've been talking about for the last two or three weeks closed for a 3.3 to one reward to risk or in other words at 1.65% account gain. We've also posted on the membership site a fantastic six hour chart trade, and we discussed it on our live webinar just yesterday posted on our forum site in advance of the price getting filled, and that was a six hour chart trade Aussie/New Zealand buyer trade 2.6 to one, or in other words a 1.3% gain on that trade also.
Open trades still in profit of +1.2%
Also, on top of that, we've got an open trade on the Pound New Zealand, which is up half of 1% right now as I'm speaking to you. I've got two trades on the weekly charts, US/Yen and Aussie/Franc up 0.7%. So overall, put all that together, we've made 7.4% on close trades and up 1.2% on open trades, 9.6% gain just on those trades, just on the membership site, just for this week. The Euro Pound was a few weeks ago. We took it but it's closed, and we profited from that full.
profit right now. That was the weekly chart trade,]]>338falsefullhttps://www.spreaker.com/episode/333-why-we-trade-different-time-frame-charts--18972152Podcast:

Why We Trade Different Time Frame Charts
In this video:
00:29 – The benefits of trading multiple time frame charts
01:14 – Being flexible as a trader
01:55– Looking at your charts
02:19 – Trading examples from this week
03:25 – High quality trading setups on the H4 charts
03:55 – Live trades taken on the webinar
05:05 – Great results from different time frame charts
06:02 – Trading like this doesn’t require much time in a day
I’m gonna explain to you today why we choose to trade a variety of different timeframe forex charts. How it helps us and how it can massively help you to improve your trading results. Let’s get into that and more right now.
Hey traders! It’s Andrew Mitchem here, from The Forex Trading Coach with video and podcast #333.
The benefits of trading multiple time frame charts
And I want to explain to you about the benefits to you as a forex trader of looking at and trading multiple timeframe charts. So take a step back. Think about the trading, think about the charts, think about the market. It’s little bit like people and the market has different characteristics, different mood swings. It reacts differently to different events. You can never really predicts what’s going to happen. Different forex pairs react differently depending on the time of the day, day of the weeks, sometimes the month, different years. And you never really know which timeframe charts or which pairs are gonna react when.
Being flexible as a trader
So, as traders, we need to adapt, we need to be flexible and one other best ways that we do that and also that’s gonna help you to do that. Is to have the ability to look at a few different timeframe charts. Different charts also pick up those different mood swings, different characteristics of the market. They give you the ability to identify high probability setup trades. That if you start to just one timeframe chart. You would often missed out on. So it’s very important that you have that ability to adapt and to look at different timeframes.
Looking at your charts
You’ll notice when you go through the charts. You might find that one timeframe just looks really flat and really boring. Other timeframes on the same pair at the same time will be showing really good setups. Again, it comes back to that characteristic of the pair and the time of day that you trading or whenever it might be the month, etc. So that’s why it is very very important.
Trading examples from this week
I give a few examples of how we adapt to those changes and how we profit and benefit from that so it can help you. So just last night, I held my live client’s webinar. Hold them every 2 weeks, 2 hour long, live trading room sessions. The alternate week, Paul over in America holds the US session, but last night it was my turn. Had a great session lots of people on it. I showed my clients over 20 charts setup just from this week. That I’ve either taking myself, I’ve seen people post on our forum site or clients have emailed me showing me the results.
Over 20 charts just this week, just from the 4 hour charts. Absolutely amazing the 4 hour charts have been this week. Go and have a look at your MT4 Charts, your trading charts and look at the 4 hour charts across the variety of different timeframe charts from this week. You will find if you have decent trading strategy there been a lot of very very good setups.
High quality trading setups on the H4 charts
So I went through those last night and they said at least 20 of them. They were absolutely amazing charts, high reward to risk, high quality setups and they work beautifully.
So the 4 hour charts for some reason work really well this week. And on that session, we talked about how other timeframe charts have not been quite not so good this week. They have not really showing on the setups.]]>https://theforextradingcoach.com/?p=11173Sun, 01 Sep 2019 15:42:18 +0000Andrew Mitchem Podcast: Why We Trade Different Time Frame Charts In this video: 00:29 – The benefits of trading multiple time frame charts 01:14 – Being flexible as a trader 01:55– Looking at your charts 02:19 – Trading examples from this week 03:25 –...Podcast:

Why We Trade Different Time Frame Charts
In this video:
00:29 – The benefits of trading multiple time frame charts
01:14 – Being flexible as a trader
01:55– Looking at your charts
02:19 – Trading examples from this week
03:25 – High quality trading setups on the H4 charts
03:55 – Live trades taken on the webinar
05:05 – Great results from different time frame charts
06:02 – Trading like this doesn’t require much time in a day
I’m gonna explain to you today why we choose to trade a variety of different timeframe forex charts. How it helps us and how it can massively help you to improve your trading results. Let’s get into that and more right now.
Hey traders! It’s Andrew Mitchem here, from The Forex Trading Coach with video and podcast #333.
The benefits of trading multiple time frame charts
And I want to explain to you about the benefits to you as a forex trader of looking at and trading multiple timeframe charts. So take a step back. Think about the trading, think about the charts, think about the market. It’s little bit like people and the market has different characteristics, different mood swings. It reacts differently to different events. You can never really predicts what’s going to happen. Different forex pairs react differently depending on the time of the day, day of the weeks, sometimes the month, different years. And you never really know which timeframe charts or which pairs are gonna react when.
Being flexible as a trader
So, as traders, we need to adapt, we need to be flexible and one other best ways that we do that and also that’s gonna help you to do that. Is to have the ability to look at a few different timeframe charts. Different charts also pick up those different mood swings, different characteristics of the market. They give you the ability to identify high probability setup trades. That if you start to just one timeframe chart. You would often missed out on. So it’s very important that you have that ability to adapt and to look at different timeframes.
Looking at your charts
You’ll notice when you go through the charts. You might find that one timeframe just looks really flat and really boring. Other timeframes on the same pair at the same time will be showing really good setups. Again, it comes back to that characteristic of the pair and the time of day that you trading or whenever it might be the month, etc. So that’s why it is very very important.
Trading examples from this week
I give a few examples of how we adapt to those changes and how we profit and benefit from that so it can help you. So just last night, I held my live client’s webinar. Hold them every 2 weeks, 2 hour long, live trading room sessions. The alternate week, Paul over in America holds the US session, but last night it was my turn. Had a great session lots of people on it. I showed my clients over 20 charts setup just from this week. That I’ve either taking myself, I’ve seen people post on our forum site or clients have emailed me showing me the results.
Over 20 charts just this week, just from the 4 hour charts. Absolutely amazing the 4 hour charts have been this week. Go and have a look at your MT4 Charts, your trading charts and look at the 4 hour charts across the variety of different timeframe charts from this week. You will find if you have decent trading strategy there been a lot of very very good setups.
High quality trading setups on the H4 charts
So I went through those last night and they said at least 20 of them. They were absolutely amazing charts, high reward to risk, high quality setups and they work beautifully.
So the 4 hour charts for some reason work really well this week. And on that session, we talked about how other timeframe charts have not been quite not so good this week. They have not really showing on the setups.]]>443falsefullhttps://www.spreaker.com/episode/332-will-your-trading-strategy-work-in-the-future--18910662Podcast:

Will your trading strategy work in the future?
In this video:
00:35 – Trading webinar question
01:30 – My strategy continues to work after 13 years
02:19 – Trading price action correctly
02:57 – The trouble with most trading strategies
03:25 – The way we trade
04:00 – The Daily charts
05:07 – Future proofing your trading
05:45 – Contact me for future podcast questions
Will your trading strategy still work in the future as good as it does today? It's an interesting question, so let's talk about that and more right now.
Hey, Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 332 coming to you from the beautiful town of Nelson in the top of the South Island here in New Zealand.
Trading webinar question
Now, I've been here for this weekend. On Wednesday night I held a webinar for non-clients for people who are interested in finding out more about trading and asking questions about my trading strategy. And a guy called Craig said to me, "Hey, Andrew. With the impending global financial meltdown, especially if the US dollar collapses, will your trading strategies still work?"
It was a really interesting question that Craig asked. Craig obviously doesn't know my entire strategy, but it was an interesting question, I thought, and a very valid one, because what's the point in looking at buying a course or a strategy that may not work in the future?
Now, Craig, I don't know whether the impending global financial meltdown's going to happen or if the US dollar's going to collapse. Who knows? That was just purely Craig's comments there.
My strategy continues to work after 13 years
But what I do know is this, is that 13, 14 years after I created the strategy that I still trade and teach today, it's still working equally as well today as it did back then. And that's a really important factor that nothing's changed. We haven't changed anything, we haven't added anything. It still works equally as well.
And when you think about the last 13, 14 years globally, politically, economically, we've been through all sorts of ups and downs and turbulence within the markets, recessions, all sorts of things, and for a strategy still to work today as good as it did back then and has continued throughout those 13, 14 years gives me massive confidence to say that it will continue to work.
Trading price action correctly
When you think about this, is that when you understand good price action or how to trade price action correctly, if there's nothing happening in the markets, then you generally don't find there's a great deal of trades or not good high quality trades showing.
Conversely from that, if there's good price action, there's lots of activity, then you generally find that that's a day or a week that you see lots of price action in the market and lots of good high quality setups. And if you trade that way, you're basically trading with what's in front of you at the time. It's what the conditions are at the time.
The trouble with most trading strategies
The danger is is if you're trading a strategy that relies on a line crossing over another line and different things like that is that that can happen at any stage. So first all you don't know when to trade, you can't re-plan around that happening, and also that can continue whether the market's flat or massively active, those sort of moving averages, let's say, as a very basic example.
The way we trade
So the beauty of the way that we trade is that with using closes of a candle and using price action, we're looking at only trading once there's good momentum, good price action in the market that's then giving us good setups.
Now, to continue on from that is that we never know in advance at the beginning of the week which timeframe charts are going to show u...]]>https://theforextradingcoach.com/?p=11122Sat, 24 Aug 2019 21:30:44 +0000Andrew Mitchem Podcast: Will your trading strategy work in the future? In this video: 00:35 – Trading webinar question 01:30 – My strategy continues to work after 13 years 02:19 – Trading price action correctly 02:57 – The trouble with most trading...Podcast:

Will your trading strategy work in the future?
In this video:
00:35 – Trading webinar question
01:30 – My strategy continues to work after 13 years
02:19 – Trading price action correctly
02:57 – The trouble with most trading strategies
03:25 – The way we trade
04:00 – The Daily charts
05:07 – Future proofing your trading
05:45 – Contact me for future podcast questions
Will your trading strategy still work in the future as good as it does today? It's an interesting question, so let's talk about that and more right now.
Hey, Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 332 coming to you from the beautiful town of Nelson in the top of the South Island here in New Zealand.
Trading webinar question
Now, I've been here for this weekend. On Wednesday night I held a webinar for non-clients for people who are interested in finding out more about trading and asking questions about my trading strategy. And a guy called Craig said to me, "Hey, Andrew. With the impending global financial meltdown, especially if the US dollar collapses, will your trading strategies still work?"
It was a really interesting question that Craig asked. Craig obviously doesn't know my entire strategy, but it was an interesting question, I thought, and a very valid one, because what's the point in looking at buying a course or a strategy that may not work in the future?
Now, Craig, I don't know whether the impending global financial meltdown's going to happen or if the US dollar's going to collapse. Who knows? That was just purely Craig's comments there.
My strategy continues to work after 13 years
But what I do know is this, is that 13, 14 years after I created the strategy that I still trade and teach today, it's still working equally as well today as it did back then. And that's a really important factor that nothing's changed. We haven't changed anything, we haven't added anything. It still works equally as well.
And when you think about the last 13, 14 years globally, politically, economically, we've been through all sorts of ups and downs and turbulence within the markets, recessions, all sorts of things, and for a strategy still to work today as good as it did back then and has continued throughout those 13, 14 years gives me massive confidence to say that it will continue to work.
Trading price action correctly
When you think about this, is that when you understand good price action or how to trade price action correctly, if there's nothing happening in the markets, then you generally don't find there's a great deal of trades or not good high quality trades showing.
Conversely from that, if there's good price action, there's lots of activity, then you generally find that that's a day or a week that you see lots of price action in the market and lots of good high quality setups. And if you trade that way, you're basically trading with what's in front of you at the time. It's what the conditions are at the time.
The trouble with most trading strategies
The danger is is if you're trading a strategy that relies on a line crossing over another line and different things like that is that that can happen at any stage. So first all you don't know when to trade, you can't re-plan around that happening, and also that can continue whether the market's flat or massively active, those sort of moving averages, let's say, as a very basic example.
The way we trade
So the beauty of the way that we trade is that with using closes of a candle and using price action, we're looking at only trading once there's good momentum, good price action in the market that's then giving us good setups.
Now, to continue on from that is that we never know in advance at the beginning of the week which timeframe charts are going to show u...]]>371falsefullhttps://www.spreaker.com/episode/331-why-trading-doesn-t-need-to-be-difficult--18849317Podcast:

Why Trading doesn’t need to be difficult
In this video:
00:26 – The cycle of a new trader
02:20 – Live trading webinar
02:50 – A +19.5% gain in 5 weeks of trading
03:10 – Finally understanding the charts
04:51 – Knowing how and where to enter a trade
05:28 – The KISS approach works
06:29 – Keep to the basics
You don't need to make your trading difficult. It doesn't need to be. Let me give you some great tips and information right now that will really help you. Let's get into it.
Hi, Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 331.
The cycle of a new trader
Now, I want to talk about the cycle that most people go through when they start trading and then how that changes and evolves. Now, most people start off by seeing trading as something quite simple. You've probably seen it online. You've seen some flashy ads, some way. You think, "This is great. This is something I can do. Piece of cake. Love it". You get into it, you open a demo, you don't really know what you're doing. You're putting some huge, ridiculous lot sizes on there. You've got no idea about risk. You might add a couple of indicators because they look pretty cool and you have a few lucky trades and it's all magic. That's what I did.
The problem is when you go live, it's a completely different story, isn't it? It's real money. It's real emotions. You then start doubting the system that you don't really notice the system because you just kind of guessed a few things. You then look at some other systems. You look at adding some more indicators because they look really cool. They're on all the charts. They must need them because someone's created them. So, let's add some different combinations of indicators. Let's change the parameters of those indicators to something that no one else has ever done. And you try creating all these really cool strategies. That doesn't work. So, you then go onto a forum, you get completely confused and bullied by other people on forums who think they know everything about trading. So, you realise that that's not going to help you either. What else can do you do?
Well, you probably get spammed with some emails about some, you know, some indicator or something like that that's gonna make all your problems go away. You try that, you realise that doesn't work either. "Ah, not I tried news trading before. Let's give that a go because everybody says that's the way to trade fundamental. So let's go and do that". And you have TV programmes going with CNBC, you're waiting for these news events, and realise that doesn't work either. So, you go into this big vicious cycle and realise that, "Actually, this trading's pretty difficult after all".
Live trading webinar
Now, the reason I'm bringing up this subject is that last night I held a live two hour webinar with a lot of my clients on that. A lot of people on that webinar were new to the course and the strategy. They've been with me two or three weeks. The reason there's a lot of new people on there because a lot of people joined as a result of the 30 minute forex trader sale that I held in the beginning of August.
A +19.5% gain in 5 weeks of trading
That was as a result of me travelling through the UK and Europe during July and the three weeks I was away there and the two weeks- the week I was back in the week, we held the sell.
We made 19 and a half percent gain by risking just a quarter of 1% risk per trade, all published on the membership site. And I've shown you if you've seen my videos, all those actual trades. So, a lot of people jump on board and go, "this looks really good".
Finally understanding the charts
But the comments that I had on the webinar last night were amazing and I've received a number of this morning also,]]>https://theforextradingcoach.com/?p=11103Sun, 18 Aug 2019 14:52:15 +0000Andrew Mitchem Podcast: Why Trading doesn’t need to be difficult In this video: 00:26 – The cycle of a new trader 02:20 – Live trading webinar 02:50 – A +19.5% gain in 5 weeks of trading 03:10 – Finally understanding the charts 04:51 – Knowing how and...Podcast:

Why Trading doesn’t need to be difficult
In this video:
00:26 – The cycle of a new trader
02:20 – Live trading webinar
02:50 – A +19.5% gain in 5 weeks of trading
03:10 – Finally understanding the charts
04:51 – Knowing how and where to enter a trade
05:28 – The KISS approach works
06:29 – Keep to the basics
You don't need to make your trading difficult. It doesn't need to be. Let me give you some great tips and information right now that will really help you. Let's get into it.
Hi, Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 331.
The cycle of a new trader
Now, I want to talk about the cycle that most people go through when they start trading and then how that changes and evolves. Now, most people start off by seeing trading as something quite simple. You've probably seen it online. You've seen some flashy ads, some way. You think, "This is great. This is something I can do. Piece of cake. Love it". You get into it, you open a demo, you don't really know what you're doing. You're putting some huge, ridiculous lot sizes on there. You've got no idea about risk. You might add a couple of indicators because they look pretty cool and you have a few lucky trades and it's all magic. That's what I did.
The problem is when you go live, it's a completely different story, isn't it? It's real money. It's real emotions. You then start doubting the system that you don't really notice the system because you just kind of guessed a few things. You then look at some other systems. You look at adding some more indicators because they look really cool. They're on all the charts. They must need them because someone's created them. So, let's add some different combinations of indicators. Let's change the parameters of those indicators to something that no one else has ever done. And you try creating all these really cool strategies. That doesn't work. So, you then go onto a forum, you get completely confused and bullied by other people on forums who think they know everything about trading. So, you realise that that's not going to help you either. What else can do you do?
Well, you probably get spammed with some emails about some, you know, some indicator or something like that that's gonna make all your problems go away. You try that, you realise that doesn't work either. "Ah, not I tried news trading before. Let's give that a go because everybody says that's the way to trade fundamental. So let's go and do that". And you have TV programmes going with CNBC, you're waiting for these news events, and realise that doesn't work either. So, you go into this big vicious cycle and realise that, "Actually, this trading's pretty difficult after all".
Live trading webinar
Now, the reason I'm bringing up this subject is that last night I held a live two hour webinar with a lot of my clients on that. A lot of people on that webinar were new to the course and the strategy. They've been with me two or three weeks. The reason there's a lot of new people on there because a lot of people joined as a result of the 30 minute forex trader sale that I held in the beginning of August.
A +19.5% gain in 5 weeks of trading
That was as a result of me travelling through the UK and Europe during July and the three weeks I was away there and the two weeks- the week I was back in the week, we held the sell.
We made 19 and a half percent gain by risking just a quarter of 1% risk per trade, all published on the membership site. And I've shown you if you've seen my videos, all those actual trades. So, a lot of people jump on board and go, "this looks really good".
Finally understanding the charts
But the comments that I had on the webinar last night were amazing and I've received a number of this morning also,]]>431falsefullhttps://www.spreaker.com/episode/330-another-6-55-this-week-get-the-basics-right-trade-well--18789941Podcast:

Another +6.55% this week – Get the Basics Right & Trade Well
In this video:
00:36 – Travelling and Trading – Focusing on the Basics
01:18 – Another +6.55% gain this week
01:45 – Trading the Basics well leads to good trades
03:04 – Trading from the right hand side of the chart
04:05 – Control your risk
04:53 – Don’t count Pips
05:25 – Reward:Risk is important
06:01 – The importance of getting the foundations right
I'm going to explain why I believe it is so important that you need to get the fundamental basics correct in order to be a good trader. Let's talk about that and more right now.
Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 330.
You'll notice I'm wearing a jumper, a sweater back here in New Zealand in the middle of winter after three weeks over in Europe.
Travelling and Trading – Focusing on the Basics
 If you've been following me over the last three or four weeks, you'd have been noticing that I've been overseas travelling around, and I've been really focusing on the basics.
In that time, I've been trading just the monthly, weekly and daily charts and nothing else. You would have seen that we've made some exceptional gains, including last week, which was my first week back at home. We had made with only a quarter percent risk per trade, 12.79%. That's all trades that were posted on our membership site. Realistically, although I called it a 30-minute-a-day trip, most of the time, it was 10 minutes a day.
Another +6.55% gain this week
Just this week, it's now Friday, I still have some open trades open that are at 0.9% so almost a 1% gain on open trades that are open just today, but this week already, we've had closed trades of another 6.55%, again, just using monthly, weekly, daily charts and a breakout strategy that we use once a week. Again, 10, 20 minutes once a day and that's it.
Trading the Basics well leads to good trades
Not only did I want to share with you those results, which I believe are very outstanding and excellent results. Also, to let you know of course, they were on their membership site, but the thing is, the important thing is, yes, the results are wonderful, but it's more important to understand that we do this by trading the basics, the fundamental basics. I don't mean fundamental as in news announcements and worrying about what's happening politically around the world. I don't mean that fundamental. I mean fundamental basics as in getting everything correct, the basics, the building blocks, the foundations of trading.
You must remember that we've been doing this for a long, long time, and so it's a bit like riding a bicycle. After a while, it becomes almost like second nature. However, we don't deviate from the basics with our trading and that we have a strategy that we know and we understand and that's very low time consuming for us to trade. It's very easy to identify a trade and go, yes, it's a trade or no, it's not. That's what I mean by the basics. You've got to have an understanding of price action if you want to become a technical trader. We use candle shapes, candle patterns, and it's very easy to look at your charts but in real time.
Trading from the right hand side of the chart
It's no good having a strategy or a system that you can make a fortune for or from it, but with hindsight, after you see what's already happened. You've got to be able to do it from the right hand side of the chart. You'd hear me talking … You would have heard me talking about that many, many, many times about the profitable trader is the one that can trade from the right hand side of the chart and decide what's happening. You don't need to also sit there glued to your screens all day long watching line A cross over line B and all those things.]]>https://theforextradingcoach.com/?p=11071Sun, 11 Aug 2019 12:44:18 +0000Andrew Mitchem Podcast: Another +6.55% this week – Get the Basics Right & Trade Well In this video: 00:36 – Travelling and Trading – Focusing on the Basics 01:18 – Another +6.55% gain this week 01:45 – Trading the Basics well leads to good trades 03:04 –...Podcast:

Another +6.55% this week – Get the Basics Right & Trade Well
In this video:
00:36 – Travelling and Trading – Focusing on the Basics
01:18 – Another +6.55% gain this week
01:45 – Trading the Basics well leads to good trades
03:04 – Trading from the right hand side of the chart
04:05 – Control your risk
04:53 – Don’t count Pips
05:25 – Reward:Risk is important
06:01 – The importance of getting the foundations right
I'm going to explain why I believe it is so important that you need to get the fundamental basics correct in order to be a good trader. Let's talk about that and more right now.
Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 330.
You'll notice I'm wearing a jumper, a sweater back here in New Zealand in the middle of winter after three weeks over in Europe.
Travelling and Trading – Focusing on the Basics
 If you've been following me over the last three or four weeks, you'd have been noticing that I've been overseas travelling around, and I've been really focusing on the basics.
In that time, I've been trading just the monthly, weekly and daily charts and nothing else. You would have seen that we've made some exceptional gains, including last week, which was my first week back at home. We had made with only a quarter percent risk per trade, 12.79%. That's all trades that were posted on our membership site. Realistically, although I called it a 30-minute-a-day trip, most of the time, it was 10 minutes a day.
Another +6.55% gain this week
Just this week, it's now Friday, I still have some open trades open that are at 0.9% so almost a 1% gain on open trades that are open just today, but this week already, we've had closed trades of another 6.55%, again, just using monthly, weekly, daily charts and a breakout strategy that we use once a week. Again, 10, 20 minutes once a day and that's it.
Trading the Basics well leads to good trades
Not only did I want to share with you those results, which I believe are very outstanding and excellent results. Also, to let you know of course, they were on their membership site, but the thing is, the important thing is, yes, the results are wonderful, but it's more important to understand that we do this by trading the basics, the fundamental basics. I don't mean fundamental as in news announcements and worrying about what's happening politically around the world. I don't mean that fundamental. I mean fundamental basics as in getting everything correct, the basics, the building blocks, the foundations of trading.
You must remember that we've been doing this for a long, long time, and so it's a bit like riding a bicycle. After a while, it becomes almost like second nature. However, we don't deviate from the basics with our trading and that we have a strategy that we know and we understand and that's very low time consuming for us to trade. It's very easy to identify a trade and go, yes, it's a trade or no, it's not. That's what I mean by the basics. You've got to have an understanding of price action if you want to become a technical trader. We use candle shapes, candle patterns, and it's very easy to look at your charts but in real time.
Trading from the right hand side of the chart
It's no good having a strategy or a system that you can make a fortune for or from it, but with hindsight, after you see what's already happened. You've got to be able to do it from the right hand side of the chart. You'd hear me talking … You would have heard me talking about that many, many, many times about the profitable trader is the one that can trade from the right hand side of the chart and decide what's happening. You don't need to also sit there glued to your screens all day long watching line A cross over line B and all those things.]]>455falsefullhttps://www.spreaker.com/episode/329-we-ve-made-12-79-gain-from-last-4-week-s-trades-posted-on-our-membership-site--18720570Podcast:

We’ve made +12.79% gain from last 4 week’s trades posted on our membership site
In this video:
00:15 – Update from this week’s trades
03:23 – Weekly chart trades
04:37 – Daily chart trades hit full profit target
06:03 – This week’s totals, +5.45% for the week
08:01 – A gain of +12.79% in the last 4 weeks
08:30 – 3 day sale starting on 5th August 2019
Hi traders Andrew Mitchem here from The Forex Trading Coach. It is Friday the second of August.
Now before we get into next week’s sale, the three day sale that I'm giving, which starts next Monday.
Update from this week’s trades
I wanted to give you a live update here of the trade results of this week. So I'll run through those trades very shortly, but just to let you know that with the trades that we've taken this week and posted on the membership site. Now this has got nothing to do with trades that we post on the forum site, trades that we take on the live webinar, which I did a two hour live webinar with my clients last week. This is purely trades posted on our membership site.
This week we have closed trades of plus five point four five percent on closed trades. And that's by taking a quarter of one percent per trade. So really, really low risk high returns five point four five percent on closed trades. Adding to the open trades again I'll share those with you shortly, which are one point four percent.  We're up six point eight five percent if we closed out all the trades right now. Add that to the five point nine four percent I made on three weeks while I was over in England and France, that's twelve point seven nine percent in the last four weeks. Trading ten to thirty minutes a day. Pretty amazing.
So let's have a look at the trades, some of these you would have seen from the previous videos. But just to quickly summarise that we had an Aussie yen trade here, this was back from before I went away back on the third of July. And that was taken on the weekly chart trade bait, take back here, and you can see for a few weeks it didn't go anywhere. I left the trade in and then it completely changed around reversed on us got to stop that. That's the first one. And then you can see while we're on the Aussie yen there's an Aussie yen here which we suggested last week or this current week. Again you can see that on our membership site here the Aussie yen trade is, if I can go to the right one, at the top of the page. Here we go. So this week we had five trades suggested on the weekly charts. The profit target's been hit on four out of the five market orders. The New Zealand, U. S. I'll share it with you shortly. But we hit profit on those at one point six to one reward risk on the Aussie yen, the trade that I got on screen and seventy-three pips there. So you can see all those trades there.
As mentioned earlier, we had our full profit target on the breakout strategy that we used that was a trade on monthly so we stopped that yesterday. Another one still open on the monthly is up two point two to one. We got no trades today, non-fund payrolls on Friday. Yesterday we mentioned a trade on the euro franc, you can see the trade written down here. The exact entry and exit levels on the daily that made forty pips out of two point one to one and then the previous day. And that was a great trade on the U.S.-Canadian dollar and that ended up making here full profit two point five to one. So lots of trades there that we've taken.
Weekly chart trades
Let's cover some of these weekly chart trades. The Aussie yen is this one here. We have a profit tigered of seventy-four thirty-five and it's clearly gone way through that. We had the Aussie-Franc weekly, the Aussie-U.S. weekly, you can see down here Aussie-U.S. weekly there we call it sixty-eight zero seven and you can see it's just got to that level it's gone a tiny bit further.]]>https://theforextradingcoach.com/?p=11059Sun, 04 Aug 2019 13:57:38 +0000Andrew Mitchem Podcast: We’ve made +12.79% gain from last 4 week’s trades posted on our membership site In this video: 00:15 – Update from this week’s trades 03:23 – Weekly chart trades 04:37 – Daily chart trades hit full profit target 06:03 – This week’s...Podcast:

We’ve made +12.79% gain from last 4 week’s trades posted on our membership site
In this video:
00:15 – Update from this week’s trades
03:23 – Weekly chart trades
04:37 – Daily chart trades hit full profit target
06:03 – This week’s totals, +5.45% for the week
08:01 – A gain of +12.79% in the last 4 weeks
08:30 – 3 day sale starting on 5th August 2019
Hi traders Andrew Mitchem here from The Forex Trading Coach. It is Friday the second of August.
Now before we get into next week’s sale, the three day sale that I'm giving, which starts next Monday.
Update from this week’s trades
I wanted to give you a live update here of the trade results of this week. So I'll run through those trades very shortly, but just to let you know that with the trades that we've taken this week and posted on the membership site. Now this has got nothing to do with trades that we post on the forum site, trades that we take on the live webinar, which I did a two hour live webinar with my clients last week. This is purely trades posted on our membership site.
This week we have closed trades of plus five point four five percent on closed trades. And that's by taking a quarter of one percent per trade. So really, really low risk high returns five point four five percent on closed trades. Adding to the open trades again I'll share those with you shortly, which are one point four percent.  We're up six point eight five percent if we closed out all the trades right now. Add that to the five point nine four percent I made on three weeks while I was over in England and France, that's twelve point seven nine percent in the last four weeks. Trading ten to thirty minutes a day. Pretty amazing.
So let's have a look at the trades, some of these you would have seen from the previous videos. But just to quickly summarise that we had an Aussie yen trade here, this was back from before I went away back on the third of July. And that was taken on the weekly chart trade bait, take back here, and you can see for a few weeks it didn't go anywhere. I left the trade in and then it completely changed around reversed on us got to stop that. That's the first one. And then you can see while we're on the Aussie yen there's an Aussie yen here which we suggested last week or this current week. Again you can see that on our membership site here the Aussie yen trade is, if I can go to the right one, at the top of the page. Here we go. So this week we had five trades suggested on the weekly charts. The profit target's been hit on four out of the five market orders. The New Zealand, U. S. I'll share it with you shortly. But we hit profit on those at one point six to one reward risk on the Aussie yen, the trade that I got on screen and seventy-three pips there. So you can see all those trades there.
As mentioned earlier, we had our full profit target on the breakout strategy that we used that was a trade on monthly so we stopped that yesterday. Another one still open on the monthly is up two point two to one. We got no trades today, non-fund payrolls on Friday. Yesterday we mentioned a trade on the euro franc, you can see the trade written down here. The exact entry and exit levels on the daily that made forty pips out of two point one to one and then the previous day. And that was a great trade on the U.S.-Canadian dollar and that ended up making here full profit two point five to one. So lots of trades there that we've taken.
Weekly chart trades
Let's cover some of these weekly chart trades. The Aussie yen is this one here. We have a profit tigered of seventy-four thirty-five and it's clearly gone way through that. We had the Aussie-Franc weekly, the Aussie-U.S. weekly, you can see down here Aussie-U.S. weekly there we call it sixty-eight zero seven and you can see it's just got to that level it's gone a tiny bit further.]]>600falsefullhttps://www.spreaker.com/episode/328-how-to-be-one-of-the-few-profitable-traders--18482038Podcast:

How to be one of the few profitable traders?
In this video:
00:29 – Why so many traders lose money
01:30 – Massive losses from traders
01:45 – You need to be realistic
02:35 – Seek education
03:35 – Trading while on holiday
04:45 – Would you like to follow my trading?
05:45 – Anything could happen
Why is it that so many traders lose so much money? And more importantly, what can you do to ensure you're not one of those people? This is a very, very important subject. So let's get into this and more right now.
Hey, Forex Traders, Andrew Mitchem, here, from the Forrest Trading Coach with video and podcast number 328.
Why so many traders lose money
And I want to talk about why is it so many people lose money? And that, that has been as a result of an e-mail that I received earlier in the week from a company called Darwinex. I don't belong to them, but I'm on their mailing list, and they sent me this. And back in 2015, the accounts that they had with them lost 78% of their value. 2016, almost 51%, 2017, 47%, and last year, 2018, 38%. And so far this year, almost 10%.
So, a massive loss in the cumulative accounts of their clients. Now, as they said, the results are getting better, which is good, and are still huge losses, by the way. But like they also said on here is they encourage, or want to encourage other brokers to publish their account losses. Because like they said, the other brokers, or a lot of the other brokers probably had far worse losses than Darwinex themselves do.
Massive losses from traders
But think of that, that first year, 78% loss on accounts cumulative. And even today, still massive losses. So, that's not good.
You need to be realistic
But you need to be realistic, and I'm here as a real trader to tell you that you need to be realistic. Most people will show you flashy cars and Porsches, and all that type of thing. I don't do that. I'm here trading from home, telling you as it is. And you need to figure out that if you are serious about wanting to become a Forex Trader, as a full-time trader, or just someone that's doing it for enjoyment or a passive income, what is it that you can do differently so that all these other people that can basically put you on the other side to make sure you're one of those few people who are making, not even just breakeven or a little bit of money, but some good, consistent gains? Because ultimately that's why we all do this, isn't it? We're here to become good Forex traders and to make income from it.
So, what can you do about it? Well, there's lots of reasons why those people are losing.
Seek education
But what you can do, is you can seek yourself some education. And I strongly believe that that is a very, very good option. But the problem, then, becomes, is when I look around at other courses that I see online, is that while they're systems or they're strategies, that most of them are not very realistic in terms of being able to trade them all the time.
I've been doing this for over 15 years. And teaching for over 10. And I'm still doing it, and I still love it, and I still get a passion and a buzz out of it, because it's enjoyable and it's something that I can work in with other things that I do. If I would have sat here, looking at these screens, all day, every day, it would drive me mad. And I would have given up years ago, regardless of making money out of it. But, because of the way I trade, and it's longer time frames, it's less chart time, it's more enjoyable, more reliable, I believe that's one of the reasons why it's realistic.
Now, you may have heard, and if you haven't, then I'm going to tell you, and if you have, sorry that I'm going to repeat myself.
Trading while on holiday
But on Monday, probably the day you get this video, Monday the 8th of July,]]>https://theforextradingcoach.com/?p=10898Sun, 07 Jul 2019 00:00:35 +0000Andrew Mitchem Podcast: How to be one of the few profitable traders? In this video: 00:29 – Why so many traders lose money 01:30 – Massive losses from traders 01:45 – You need to be realistic 02:35 – Seek education 03:35 – Trading while on holiday 04:45 –...Podcast:

How to be one of the few profitable traders?
In this video:
00:29 – Why so many traders lose money
01:30 – Massive losses from traders
01:45 – You need to be realistic
02:35 – Seek education
03:35 – Trading while on holiday
04:45 – Would you like to follow my trading?
05:45 – Anything could happen
Why is it that so many traders lose so much money? And more importantly, what can you do to ensure you're not one of those people? This is a very, very important subject. So let's get into this and more right now.
Hey, Forex Traders, Andrew Mitchem, here, from the Forrest Trading Coach with video and podcast number 328.
Why so many traders lose money
And I want to talk about why is it so many people lose money? And that, that has been as a result of an e-mail that I received earlier in the week from a company called Darwinex. I don't belong to them, but I'm on their mailing list, and they sent me this. And back in 2015, the accounts that they had with them lost 78% of their value. 2016, almost 51%, 2017, 47%, and last year, 2018, 38%. And so far this year, almost 10%.
So, a massive loss in the cumulative accounts of their clients. Now, as they said, the results are getting better, which is good, and are still huge losses, by the way. But like they also said on here is they encourage, or want to encourage other brokers to publish their account losses. Because like they said, the other brokers, or a lot of the other brokers probably had far worse losses than Darwinex themselves do.
Massive losses from traders
But think of that, that first year, 78% loss on accounts cumulative. And even today, still massive losses. So, that's not good.
You need to be realistic
But you need to be realistic, and I'm here as a real trader to tell you that you need to be realistic. Most people will show you flashy cars and Porsches, and all that type of thing. I don't do that. I'm here trading from home, telling you as it is. And you need to figure out that if you are serious about wanting to become a Forex Trader, as a full-time trader, or just someone that's doing it for enjoyment or a passive income, what is it that you can do differently so that all these other people that can basically put you on the other side to make sure you're one of those few people who are making, not even just breakeven or a little bit of money, but some good, consistent gains? Because ultimately that's why we all do this, isn't it? We're here to become good Forex traders and to make income from it.
So, what can you do about it? Well, there's lots of reasons why those people are losing.
Seek education
But what you can do, is you can seek yourself some education. And I strongly believe that that is a very, very good option. But the problem, then, becomes, is when I look around at other courses that I see online, is that while they're systems or they're strategies, that most of them are not very realistic in terms of being able to trade them all the time.
I've been doing this for over 15 years. And teaching for over 10. And I'm still doing it, and I still love it, and I still get a passion and a buzz out of it, because it's enjoyable and it's something that I can work in with other things that I do. If I would have sat here, looking at these screens, all day, every day, it would drive me mad. And I would have given up years ago, regardless of making money out of it. But, because of the way I trade, and it's longer time frames, it's less chart time, it's more enjoyable, more reliable, I believe that's one of the reasons why it's realistic.
Now, you may have heard, and if you haven't, then I'm going to tell you, and if you have, sorry that I'm going to repeat myself.
Trading while on holiday
But on Monday, probably the day you get this video, Monday the 8th of July,]]>405falsefullhttps://www.spreaker.com/episode/327-should-you-use-trailing-stops-or-fixed-stops--18423897Podcast:

Should you use Trailing Stops or Fixed Stops?
In this video:
00:22 – Two parts to this week’s podcast
00:41 – Trailing stops and should you use them?
01:13 – How should you use a trailing stop?
02:35 – I don’t use trailing stops
03:45 – Look to move your stop loss or take partial profit
05:46 – Trading for 10-30 minutes a day while on holiday – follow me
Should you use trailing stops as a forex trader? Let's talk about that and more right now.
Hi, traders. Andrew Mitchem here from The Forex Trading Coach with video and podcast number 327.
Two parts to this week’s podcast
Two parts to the video and podcast today. The first is a question about trailing stops. The second is about a great opportunity I'm going to give you to follow me while I'm away overseas on holiday for three weeks, trading in under 30 minutes a day. More about that shortly. Let's get back to part one about trailing stops.
Trailing stops and should you use them?
So, the question's just been received today from a trader. He's not a client, but he's a guy that follows me on podcasts called Trevor from the UK, and Trevor asked the question … He said, "Andrew, trailing stops attempting to use as a protective factor to lock in profit in case of reversals; however, they can be taken out in strong retracements. Do you use them?" So that's a good question. The short answer is, "No, I do not use trailing stops," but let's discuss them and their merits or otherwise.
How should you use a trailing stop?
So, a lot of people like the thought of a trailing stop because you think that it's going to keep following your trade as you keep making profit and locking in more and more of the trade and, in theory, giving you a better return. That's the theory. There's a couple of practical issues that you need to be aware of. I'm not sure about other trading platforms, but certainly if you use the MT4, MetaTrader 4 platform, if you use a trailing stop, you actually have to have your computer on. Now, if you have your platform open on a virtual server, that's fine, but most people probably would just have it on their desktop or their laptop.
If you use a trailing stop and close your chance down, then the trailing stop will not be honoured because it sits on your computer. A normal hard stop or a profit target sits with your broker, but a trailing stock does not. So, there's a factor that you need to be aware of and probably a lot of people don't know that. The other thing is, from a trading point of view, is how big a trailing stop to use and when do you start to use it? Where do you put it? When do you introduce it? Does it depend on the currency pair or the timeframe chart or the volatility in the market or flatness in the market right now? If you put a 20 pip trailing stock, is that the same on the euro pound as it would be on the pound New Zealand? One very slow, one very fast.
I don’t use trailing stops
All these type of things you need to consider. So, I don't use trailing stops for those reasons. It's too much of a guess. I like to have a little bit more certainty in my trading, and so, to me, the initial stop loss needs to be placed at a protected level for a reason. Don't just pick 30 pips because someone said so. Pick the level that the trade needs to be … the stop loss needs to be at to protect the individual trade.
One of the reasons why I love trading on individual candle shapes and patterns is because if that is a relatively large candle, I can then afford to have a slightly bigger stop loss, and therefore, my profit targets bigger and the reward to risk becomes good as well. If it's a smaller candle, then generally, I've got a tighter stop loss and the smaller profit target because it's reflecting the current market conditions, and reward to risk is so important. So,]]>https://theforextradingcoach.com/?p=10751Sun, 30 Jun 2019 14:24:28 +0000Andrew Mitchem Podcast: Should you use Trailing Stops or Fixed Stops? In this video: 00:22 – Two parts to this week’s podcast 00:41 – Trailing stops and should you use them? 01:13 – How should you use a trailing stop? 02:35 – I don’t use trailing stops 03:45...Podcast:

Should you use Trailing Stops or Fixed Stops?
In this video:
00:22 – Two parts to this week’s podcast
00:41 – Trailing stops and should you use them?
01:13 – How should you use a trailing stop?
02:35 – I don’t use trailing stops
03:45 – Look to move your stop loss or take partial profit
05:46 – Trading for 10-30 minutes a day while on holiday – follow me
Should you use trailing stops as a forex trader? Let's talk about that and more right now.
Hi, traders. Andrew Mitchem here from The Forex Trading Coach with video and podcast number 327.
Two parts to this week’s podcast
Two parts to the video and podcast today. The first is a question about trailing stops. The second is about a great opportunity I'm going to give you to follow me while I'm away overseas on holiday for three weeks, trading in under 30 minutes a day. More about that shortly. Let's get back to part one about trailing stops.
Trailing stops and should you use them?
So, the question's just been received today from a trader. He's not a client, but he's a guy that follows me on podcasts called Trevor from the UK, and Trevor asked the question … He said, "Andrew, trailing stops attempting to use as a protective factor to lock in profit in case of reversals; however, they can be taken out in strong retracements. Do you use them?" So that's a good question. The short answer is, "No, I do not use trailing stops," but let's discuss them and their merits or otherwise.
How should you use a trailing stop?
So, a lot of people like the thought of a trailing stop because you think that it's going to keep following your trade as you keep making profit and locking in more and more of the trade and, in theory, giving you a better return. That's the theory. There's a couple of practical issues that you need to be aware of. I'm not sure about other trading platforms, but certainly if you use the MT4, MetaTrader 4 platform, if you use a trailing stop, you actually have to have your computer on. Now, if you have your platform open on a virtual server, that's fine, but most people probably would just have it on their desktop or their laptop.
If you use a trailing stop and close your chance down, then the trailing stop will not be honoured because it sits on your computer. A normal hard stop or a profit target sits with your broker, but a trailing stock does not. So, there's a factor that you need to be aware of and probably a lot of people don't know that. The other thing is, from a trading point of view, is how big a trailing stop to use and when do you start to use it? Where do you put it? When do you introduce it? Does it depend on the currency pair or the timeframe chart or the volatility in the market or flatness in the market right now? If you put a 20 pip trailing stock, is that the same on the euro pound as it would be on the pound New Zealand? One very slow, one very fast.
I don’t use trailing stops
All these type of things you need to consider. So, I don't use trailing stops for those reasons. It's too much of a guess. I like to have a little bit more certainty in my trading, and so, to me, the initial stop loss needs to be placed at a protected level for a reason. Don't just pick 30 pips because someone said so. Pick the level that the trade needs to be … the stop loss needs to be at to protect the individual trade.
One of the reasons why I love trading on individual candle shapes and patterns is because if that is a relatively large candle, I can then afford to have a slightly bigger stop loss, and therefore, my profit targets bigger and the reward to risk becomes good as well. If it's a smaller candle, then generally, I've got a tighter stop loss and the smaller profit target because it's reflecting the current market conditions, and reward to risk is so important. So,]]>447falsefullhttps://www.spreaker.com/episode/326-lining-up-your-ducks-in-a-row--18352331Podcast:

Lining up your ducks in a row
In this video:
00:24 – Becoming a better and more consistent trader
01:02 – Tips to help you create a trading plan
01:46 – Lining up everything in your favour
02:25 – Get the bigger picture from the Monthly charts
03:12 – You’ll still need a good strategy and identify a good trade
03:54 – Take a look at the USD/CHF price level
05:33 – Line the ducks in a row to help your trading results
Lining up all the ducks in a row to make you a more profitable trader. How does that work? Let's talk about that and more right now.
Hi, Forex Traders. It's Andrew Mitchem here from the Forex Trading Coach with video and podcast number 326.
Becoming a better and more consistent trader
I want to talk about how you can become a better and more profitable trader with consistent trades by lining up all the ducks in a row.
Let me explain more about that. You see, trading is all about probabilities. There are no certainties in trading, and the other thing that you have to work out when you are wanting to become a trader, is you need to have a plan and you need to stick to it. But, how do you create that plan? What do you do in order to create a plan? Because, everybody says, "Hey, you need a plan to become a good trader." Well, where do you start? What do you do?
Tips to help you create a trading plan
I've got some really beneficial and realistic practical tips to help you with this because, like I said, trading is about probabilities. Nothing is certain. You can have the best looking set up and it won't work. It's not absolute guaranteed to work. Nothing's really guaranteed in life, is it? You probably have to go to school when you're a child. You probably and should be paying taxes when you're an adult, and you are going to die. So, really, the last one's the only certainty, but in trading there are no certainties. You can have absolute everything looking really good. Doesn't mean to say it's going to work. But, if you do that often enough with the high probability behind you, then chances are you're going to do really well as a trader.
Lining up everything in your favour
Getting all that lined up, everything lined up, is really, really important. I was on a webinar last night with my clients and I was discussing with some of my more experienced and more successful clients, about what they do to line up all the ducks on a row. It was really interesting about the philosophy that they have, and what we are looking at here is getting all different timeframes lining up.
Now, I'm not saying go through your MT4 charts and get every single one lining up absolutely perfectly because that's not going to happen.
Get the bigger picture from the Monthly charts
What we're saying is, at the beginning of the month look at your monthly charts and write down a list of likely directions of where you see strength or weakness, your bias for the bigger picture of the monthly directions. It's a real simple exercise. You just need to do it once a month. It might take you 10, 15 minutes once a month. And then, at the beginning of the week, do the same on the weekly charts. Try and line up pairs that have the same direction or potential same direction as the monthly charts. And then, on a daily basis, we then scale down and write on the membership site. We also put the weekly charts, but also the daily charts with specific trades. But, if you have the daily charts lining up with the weekly charts, and that lines up with the monthly charts, then surely that has to start to line up a few ducks in a row there for you.
You’ll still need a good strategy and identify a good trade
Now, of course, you don't just randomly go and say, "Oh, the monthly's looking like it's heading down. So is the daily and … So is the weekly and now the daily.]]>https://theforextradingcoach.com/?p=10675Sun, 23 Jun 2019 14:06:59 +0000Andrew Mitchem Podcast: Lining up your ducks in a row In this video: 00:24 – Becoming a better and more consistent trader 01:02 – Tips to help you create a trading plan 01:46 – Lining up everything in your favour 02:25 – Get the bigger picture from the...Podcast:

Lining up your ducks in a row
In this video:
00:24 – Becoming a better and more consistent trader
01:02 – Tips to help you create a trading plan
01:46 – Lining up everything in your favour
02:25 – Get the bigger picture from the Monthly charts
03:12 – You’ll still need a good strategy and identify a good trade
03:54 – Take a look at the USD/CHF price level
05:33 – Line the ducks in a row to help your trading results
Lining up all the ducks in a row to make you a more profitable trader. How does that work? Let's talk about that and more right now.
Hi, Forex Traders. It's Andrew Mitchem here from the Forex Trading Coach with video and podcast number 326.
Becoming a better and more consistent trader
I want to talk about how you can become a better and more profitable trader with consistent trades by lining up all the ducks in a row.
Let me explain more about that. You see, trading is all about probabilities. There are no certainties in trading, and the other thing that you have to work out when you are wanting to become a trader, is you need to have a plan and you need to stick to it. But, how do you create that plan? What do you do in order to create a plan? Because, everybody says, "Hey, you need a plan to become a good trader." Well, where do you start? What do you do?
Tips to help you create a trading plan
I've got some really beneficial and realistic practical tips to help you with this because, like I said, trading is about probabilities. Nothing is certain. You can have the best looking set up and it won't work. It's not absolute guaranteed to work. Nothing's really guaranteed in life, is it? You probably have to go to school when you're a child. You probably and should be paying taxes when you're an adult, and you are going to die. So, really, the last one's the only certainty, but in trading there are no certainties. You can have absolute everything looking really good. Doesn't mean to say it's going to work. But, if you do that often enough with the high probability behind you, then chances are you're going to do really well as a trader.
Lining up everything in your favour
Getting all that lined up, everything lined up, is really, really important. I was on a webinar last night with my clients and I was discussing with some of my more experienced and more successful clients, about what they do to line up all the ducks on a row. It was really interesting about the philosophy that they have, and what we are looking at here is getting all different timeframes lining up.
Now, I'm not saying go through your MT4 charts and get every single one lining up absolutely perfectly because that's not going to happen.
Get the bigger picture from the Monthly charts
What we're saying is, at the beginning of the month look at your monthly charts and write down a list of likely directions of where you see strength or weakness, your bias for the bigger picture of the monthly directions. It's a real simple exercise. You just need to do it once a month. It might take you 10, 15 minutes once a month. And then, at the beginning of the week, do the same on the weekly charts. Try and line up pairs that have the same direction or potential same direction as the monthly charts. And then, on a daily basis, we then scale down and write on the membership site. We also put the weekly charts, but also the daily charts with specific trades. But, if you have the daily charts lining up with the weekly charts, and that lines up with the monthly charts, then surely that has to start to line up a few ducks in a row there for you.
You’ll still need a good strategy and identify a good trade
Now, of course, you don't just randomly go and say, "Oh, the monthly's looking like it's heading down. So is the daily and … So is the weekly and now the daily.]]>368falsefullhttps://www.spreaker.com/episode/325-do-you-enjoy-sitting-at-your-computer-all-day--18286666Podcast:

Do You Enjoy Sitting at Your Computer All Day?
In this video:
00:30 – A traders’ journey and why so many give up
01:19 – Sitting for hours watching charts
01:47 – When I started trading
02:30 – You find it doesn’t work out
03:12 – Our approach to trading: Less is More
03:34 – I’ve traded just the daily and weekly charts this week
04:00 – A lack of knowledge
05:02 – Trading a variety of charts
05:44 – Have a life and trade well
As a Forex trader, do you really enjoy sitting at your computer all day waiting for trading set ups? If you do that's fine. But if you don't and you'd like to know how to change your trading so it's more enjoyable, I have exactly what you need. Listen up, let's get into it.
Hey traders, it's Andrew Mitchem here, the Forex Trading Coach with video and podcast number 325.
A traders’ journey and why so many give up
Now this video is all about how people progress from absolute beginners through to good traders and the reason why so many people tend to give up trading too early, probably. So natural progression is this; you probably have heard about trading, you might have been and done a course maybe it's online, maybe it's in person somewhere, big group of people. You may have known someone that's traded, you've looked on forums. All those type of things, you see an ad online somewhere. Whatever is you get into trading with this huge hype and expectation of it's going to be fun, it's going to be easy and you're going to set out your charts and you're going to see some trades and make some money. That's how it's all going to plan out.
Of course the reality is that doesn't happen, pretty much in all cases actually.
Sitting for hours watching charts
Most people when they start because they have the buzz and the excitement of trading is that they think they're going to have to sit there and they do sit there and make yourself have time to sit there watching charts. The problem is is that when you're sat at your computer that's when you're making a trade happen, like you're almost forcing a trade to happen, you're wanting it to happen, you're waiting for it to happen. So people tend to take trade set ups that are not really that good a quality.
When I started trading
Now back when I started trading, 15 plus years ago, we only had dial up internet. Of course if you were lucky enough to get dial up to actually have a stable connection, and you only had a very small data plan like a gigabyte a month let's say. Which back then was actually really quite good. I did the same. I was looking for trades and kids were in bed, I'm ready, computer's working, internet's working, let's take a trade. What are we going to do? Of course the danger is that the market wasn't ready or there were no set ups. That's what people still do today. But you have the ease of high-speed internet and fibre, and cheap data plans and mobile phones et cetera. So you're wanting to take more and more trades.
You find it doesn’t work out
What actually you find out is that over time that doesn't work. Unfortunately before you find that out, most people actually give up because they're losing too much money, they're blowing their accounts. Or they are just spending so much time that it's not sustainable. Either you get that or they start absolute hiss and roar, go really crazy, and then find that real life continues and jobs and family and whatever it might be and I cannot commit that amount of time to sitting at my charts or I get home from work and the last thing I want to do is then sit down in front of a computer looking at charts. All of that is very understandable. That's why so many people give up.
Our approach to trading: Less is More
Our approach is the complete opposite to that. You'll find that most full time traders and most good traders,]]>https://theforextradingcoach.com/?p=10655Sun, 16 Jun 2019 11:51:28 +0000Andrew Mitchem Podcast: Do You Enjoy Sitting at Your Computer All Day? In this video: 00:30 – A traders’ journey and why so many give up 01:19 – Sitting for hours watching charts 01:47 – When I started trading 02:30 – You find it doesn’t work out 03:12 – Our...Podcast:

Do You Enjoy Sitting at Your Computer All Day?
In this video:
00:30 – A traders’ journey and why so many give up
01:19 – Sitting for hours watching charts
01:47 – When I started trading
02:30 – You find it doesn’t work out
03:12 – Our approach to trading: Less is More
03:34 – I’ve traded just the daily and weekly charts this week
04:00 – A lack of knowledge
05:02 – Trading a variety of charts
05:44 – Have a life and trade well
As a Forex trader, do you really enjoy sitting at your computer all day waiting for trading set ups? If you do that's fine. But if you don't and you'd like to know how to change your trading so it's more enjoyable, I have exactly what you need. Listen up, let's get into it.
Hey traders, it's Andrew Mitchem here, the Forex Trading Coach with video and podcast number 325.
A traders’ journey and why so many give up
Now this video is all about how people progress from absolute beginners through to good traders and the reason why so many people tend to give up trading too early, probably. So natural progression is this; you probably have heard about trading, you might have been and done a course maybe it's online, maybe it's in person somewhere, big group of people. You may have known someone that's traded, you've looked on forums. All those type of things, you see an ad online somewhere. Whatever is you get into trading with this huge hype and expectation of it's going to be fun, it's going to be easy and you're going to set out your charts and you're going to see some trades and make some money. That's how it's all going to plan out.
Of course the reality is that doesn't happen, pretty much in all cases actually.
Sitting for hours watching charts
Most people when they start because they have the buzz and the excitement of trading is that they think they're going to have to sit there and they do sit there and make yourself have time to sit there watching charts. The problem is is that when you're sat at your computer that's when you're making a trade happen, like you're almost forcing a trade to happen, you're wanting it to happen, you're waiting for it to happen. So people tend to take trade set ups that are not really that good a quality.
When I started trading
Now back when I started trading, 15 plus years ago, we only had dial up internet. Of course if you were lucky enough to get dial up to actually have a stable connection, and you only had a very small data plan like a gigabyte a month let's say. Which back then was actually really quite good. I did the same. I was looking for trades and kids were in bed, I'm ready, computer's working, internet's working, let's take a trade. What are we going to do? Of course the danger is that the market wasn't ready or there were no set ups. That's what people still do today. But you have the ease of high-speed internet and fibre, and cheap data plans and mobile phones et cetera. So you're wanting to take more and more trades.
You find it doesn’t work out
What actually you find out is that over time that doesn't work. Unfortunately before you find that out, most people actually give up because they're losing too much money, they're blowing their accounts. Or they are just spending so much time that it's not sustainable. Either you get that or they start absolute hiss and roar, go really crazy, and then find that real life continues and jobs and family and whatever it might be and I cannot commit that amount of time to sitting at my charts or I get home from work and the last thing I want to do is then sit down in front of a computer looking at charts. All of that is very understandable. That's why so many people give up.
Our approach to trading: Less is More
Our approach is the complete opposite to that. You'll find that most full time traders and most good traders,]]>386falsefullhttps://www.spreaker.com/episode/324-9-5-monthly-gain-in-may-here-s-how--18219085Podcast:

+9.5% monthly gain in May, here’s how
In this video:
00:26 – Details about a client who made +9.5% in May
00:51 – Live webinar discussing Scott’s trades
01:22 – Check out the Testimonials page https://theforextradingcoach.com/testimonials.html
01:59 – Scott’s comments and trading week routine
04:05 – How we can help you achieve similar results yourself
04:46 – Reduce your risk on a Monday
A client of mine has just made 9.5% during May. I'm going to share with you details of how he's done that. Let's get into it right now.
Hey, traders, Andrew Mitchem here, the owner of the Forex Training Coach with video and podcast number 324.
Details about a client who made +9.5% in May
Now, I want to share with you an email that I received from a client called Scott, and Scott's been with me for just over 18 months, and he has a full-time job, and in May he made just over 9.5% trading very little, but trading very well. And I'd like to share with you some of the information that he's sent me here.
Live webinar discussing Scott’s trades
Now, tonight I'm holding a live webinar with my clients and I'm going to be going through all of the trades that Scott has taken, the good trades and the losing trades, and we're going to be discussing those trades. But it's really important that you take from this that this is with low risk trading. So, Scott's risking no more than half of one percent of his account per trade. Very, very low risk to make a very nice, almost 10% gain in the month of May.
Check out the Testimonials page https://theforextradingcoach.com/testimonials.html
You can also have a look on the testimonials page on my website and you will find a video of Scott there. So, have a look, and you'll see who that is that's made the money and done very well for himself for that month. Also important to note that Scott is always on my live webinars. He contributes well to our forums site, and 18 months after joining, these are the type of results that he's getting, and the consistency is what matters. You know, it's really important that you put that time in upfront in order to then reap the rewards later on down the track, and that's exactly what Scott has done.
So, let me share with you some of the information that he's said on here, and he fully admits, he said, "Look, I had plenty of down side trades in a month, but I led to"… He actually says, "Leading to only a 9.5% account gain for the month." So, that tells you that he's pretty consistently doing that and more. So, his summary is like this. On a Monday, the beginning of the week, he trades only the monthly charts and the weekly charts, and the daily charts if they're really strong. And the reason for that is because at the beginning of the week, he can take the weekly charts. So, if it's the beginning of the week and the month, then he can take the monthly chart trade as well. But he's very selective on the daily chart trades that he takes on a Monday because when you think about it, you're looking at a Friday's candle. And so, because of course Monday is only just starting, and so really important that you're very selective on a Monday.
What I also suggest people do on a Monday is reduce the risk that they take per trade because you're at the start of the new week and things could be a little bit more unpredictable. Scott said then on Tuesday, he takes the daily charts if there are any. He also looks at the 12 and 8 hour charts, but only if they're in the direction of the weekly and monthly, so if the monthly charts and the daily chart… Sorry, monthly charts and the weekly charts all line up to say, let's say, short positions on the pound U.S dollar, and he sees a 12 or an 8 hour chart on that panel in the same direction, that's the trade he's after.
On a Wednesday,]]>https://theforextradingcoach.com/?p=10645Sun, 09 Jun 2019 13:27:35 +0000Andrew Mitchem Podcast: +9.5% monthly gain in May, here’s how In this video: 00:26 – Details about a client who made +9.5% in May 00:51 – Live webinar discussing Scott’s trades 01:22 – Check out the Testimonials page...Podcast:

+9.5% monthly gain in May, here’s how
In this video:
00:26 – Details about a client who made +9.5% in May
00:51 – Live webinar discussing Scott’s trades
01:22 – Check out the Testimonials page https://theforextradingcoach.com/testimonials.html
01:59 – Scott’s comments and trading week routine
04:05 – How we can help you achieve similar results yourself
04:46 – Reduce your risk on a Monday
A client of mine has just made 9.5% during May. I'm going to share with you details of how he's done that. Let's get into it right now.
Hey, traders, Andrew Mitchem here, the owner of the Forex Training Coach with video and podcast number 324.
Details about a client who made +9.5% in May
Now, I want to share with you an email that I received from a client called Scott, and Scott's been with me for just over 18 months, and he has a full-time job, and in May he made just over 9.5% trading very little, but trading very well. And I'd like to share with you some of the information that he's sent me here.
Live webinar discussing Scott’s trades
Now, tonight I'm holding a live webinar with my clients and I'm going to be going through all of the trades that Scott has taken, the good trades and the losing trades, and we're going to be discussing those trades. But it's really important that you take from this that this is with low risk trading. So, Scott's risking no more than half of one percent of his account per trade. Very, very low risk to make a very nice, almost 10% gain in the month of May.
Check out the Testimonials page https://theforextradingcoach.com/testimonials.html
You can also have a look on the testimonials page on my website and you will find a video of Scott there. So, have a look, and you'll see who that is that's made the money and done very well for himself for that month. Also important to note that Scott is always on my live webinars. He contributes well to our forums site, and 18 months after joining, these are the type of results that he's getting, and the consistency is what matters. You know, it's really important that you put that time in upfront in order to then reap the rewards later on down the track, and that's exactly what Scott has done.
So, let me share with you some of the information that he's said on here, and he fully admits, he said, "Look, I had plenty of down side trades in a month, but I led to"… He actually says, "Leading to only a 9.5% account gain for the month." So, that tells you that he's pretty consistently doing that and more. So, his summary is like this. On a Monday, the beginning of the week, he trades only the monthly charts and the weekly charts, and the daily charts if they're really strong. And the reason for that is because at the beginning of the week, he can take the weekly charts. So, if it's the beginning of the week and the month, then he can take the monthly chart trade as well. But he's very selective on the daily chart trades that he takes on a Monday because when you think about it, you're looking at a Friday's candle. And so, because of course Monday is only just starting, and so really important that you're very selective on a Monday.
What I also suggest people do on a Monday is reduce the risk that they take per trade because you're at the start of the new week and things could be a little bit more unpredictable. Scott said then on Tuesday, he takes the daily charts if there are any. He also looks at the 12 and 8 hour charts, but only if they're in the direction of the weekly and monthly, so if the monthly charts and the daily chart… Sorry, monthly charts and the weekly charts all line up to say, let's say, short positions on the pound U.S dollar, and he sees a 12 or an 8 hour chart on that panel in the same...]]>325falsefullhttps://www.spreaker.com/episode/323-how-do-you-react-when-you-lose-a-series-of-trades--18150299Podcast:

How do you react when you lose a series of trades?
In this video:
00:26 – The downside to trading and how do you react?
00:50 – The good and the bad
01:44 – Are you your own biggest problem?
03:31 – The market is unpredictable
04:15 – Back to basics
05:04 – Benefit from our 10+ years of helping traders like you
How do you react when you have a series of losing trades? It's critical you get this right to your trading success. So, let's get into it right now.
Hey, traders, Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 323.
The downside to trading and how do you react?
Now, everybody tells you the good side of trading. I want to tell you about the bad side of trading, and more importantly, how do you react when that happens? Now it's all about losing trades. Now, we will have winning trades and losing trades as part of trading. But, what happens when you have a series of losing trades, maybe losing days, losing weeks, even losing months. What happens?
The good and the bad
Let's bring that back to a story that everybody can relate to. It's called life. In life, we have good times and we have bad times, and everybody goes through the same thing. And what often defines you as a person, as a parent, as a boss, as an employee, as a sportsperson, whatever it might be, what defines you quite often is how you react to those bad times. How do you get through it? What do you do to ensure that those become less and less?
You see, the problem is today that with everything being we want the quick fix all the time, a lot of people struggle when things don't go right. And you know, they blame someone else, they get depressed, they sulk, they give up, you know, everybody else's fault. It's the same in trading.
Are you your own biggest problem?
You see, people blame the market, they blame the broker, they blame everything. But very often, it's the person themselves that is the biggest problem. And it's how you react to that. So, you have a system, a strategy in place, and if you weren't happy with it, you wouldn't be trading it.
So, you're trading it, and you have a series of losing trades. What happens? Do you go back and analyse those trades? And in reality, you should be analysing all of your trades. But, do you go back and analyse those trades and go, "Do these losing trades fit my criteria? Do they fit my rules, my trading strategy? Yes or no?"
If they do, then great. That's part of trading, and you may be just going through a tough patch right now, because if they do meet your criteria, and yes, this is what I'm looking for as part of my trading plan, and unfortunately, it didn't work out, at least you stuck to your horse. You can still find things in there that you might learn further from those losing trades. But, if you stuck to your rules, then, well done. You've done what you should do as a trader.
If you didn't stick to your rules, that's where the problems start. So, rather than blaming everybody else or your broker or the market, how about, let's fix the problem, which is you, and go and analyse those trades and go, "Well, actually, do you know what? That trade there didn't meet my criteria, because of reasons one, two and three. Therefore, I'm learning that when I see that again in the future, I will not take trades that look like this and I'll only take trades that look like that." So, that's how you can develop and how you can learn and how you can improve yourself.
The market is unpredictable
Now, don't forget we're trading in a market that's unpredictable. You never know what's going to happen. You know, even with the best laid-out plans and best laid-out strategies, no one can be certain of what's going to happen. You don't know whether it's a trending market,]]>https://theforextradingcoach.com/?p=10615Sun, 02 Jun 2019 14:19:28 +0000Andrew Mitchem Podcast: How do you react when you lose a series of trades? In this video: 00:26 – The downside to trading and how do you react? 00:50 – The good and the bad 01:44 – Are you your own biggest problem? 03:31 – The market is unpredictable 04:15 –...Podcast:

How do you react when you lose a series of trades?
In this video:
00:26 – The downside to trading and how do you react?
00:50 – The good and the bad
01:44 – Are you your own biggest problem?
03:31 – The market is unpredictable
04:15 – Back to basics
05:04 – Benefit from our 10+ years of helping traders like you
How do you react when you have a series of losing trades? It's critical you get this right to your trading success. So, let's get into it right now.
Hey, traders, Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 323.
The downside to trading and how do you react?
Now, everybody tells you the good side of trading. I want to tell you about the bad side of trading, and more importantly, how do you react when that happens? Now it's all about losing trades. Now, we will have winning trades and losing trades as part of trading. But, what happens when you have a series of losing trades, maybe losing days, losing weeks, even losing months. What happens?
The good and the bad
Let's bring that back to a story that everybody can relate to. It's called life. In life, we have good times and we have bad times, and everybody goes through the same thing. And what often defines you as a person, as a parent, as a boss, as an employee, as a sportsperson, whatever it might be, what defines you quite often is how you react to those bad times. How do you get through it? What do you do to ensure that those become less and less?
You see, the problem is today that with everything being we want the quick fix all the time, a lot of people struggle when things don't go right. And you know, they blame someone else, they get depressed, they sulk, they give up, you know, everybody else's fault. It's the same in trading.
Are you your own biggest problem?
You see, people blame the market, they blame the broker, they blame everything. But very often, it's the person themselves that is the biggest problem. And it's how you react to that. So, you have a system, a strategy in place, and if you weren't happy with it, you wouldn't be trading it.
So, you're trading it, and you have a series of losing trades. What happens? Do you go back and analyse those trades? And in reality, you should be analysing all of your trades. But, do you go back and analyse those trades and go, "Do these losing trades fit my criteria? Do they fit my rules, my trading strategy? Yes or no?"
If they do, then great. That's part of trading, and you may be just going through a tough patch right now, because if they do meet your criteria, and yes, this is what I'm looking for as part of my trading plan, and unfortunately, it didn't work out, at least you stuck to your horse. You can still find things in there that you might learn further from those losing trades. But, if you stuck to your rules, then, well done. You've done what you should do as a trader.
If you didn't stick to your rules, that's where the problems start. So, rather than blaming everybody else or your broker or the market, how about, let's fix the problem, which is you, and go and analyse those trades and go, "Well, actually, do you know what? That trade there didn't meet my criteria, because of reasons one, two and three. Therefore, I'm learning that when I see that again in the future, I will not take trades that look like this and I'll only take trades that look like that." So, that's how you can develop and how you can learn and how you can improve yourself.
The market is unpredictable
Now, don't forget we're trading in a market that's unpredictable. You never know what's going to happen. You know, even with the best laid-out plans and best laid-out strategies, no one can be certain of what's going to happen. You don't know whether it's a trending market,]]>323falsefullhttps://www.spreaker.com/episode/322-why-candle-patterns-rule--18079842Podcast:

Why Candle Patterns Rule
In this video:
00:33 – There are so many ways to trade
00:51 – The downside to Fundamental trading
01:22 – The flaws with Technical trading
01:52 – I trade Candlesticks
02:35 – Focus on the individual candle
03:29 – A candle paints a picture
04:05 – Helps with back testing
05:05 – 2 types of candles to trade
I'm going to talk about why candle patterns rule as a Forex trader. So let's get into that and more, right now.
Hey Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 322.
And I thought I'd take this opportunity … It's autumn here in New Zealand, beautiful day as you can see to get outside and make the video from out here, rather than standing in front of the charts.
There are so many ways to trade
So many different ways that you can trade Forex. Unfortunately, most of them are not good ways but the two traditional ways that people look at trading Forex are either to become a fundamental trader or a technical trader or sometimes a bit of both.
The downside to Fundamental trading
So the downside for being a fundamental trader, in my opinion, is that it becomes your opinion of what you see in the news, or what you hear in the news. Is that news better or worse than expected and there's so many different variables and it changes all the time, it's quite difficult to make an assessment, in my opinion. Now I know there's people out there watching this who will say, "Look, I'm a fundamental trader and I trade really well." That's great. But for most people, I believe that fundamental trading's not that easy.
The flaws with Technical trading
Technical trading. Well, as a technical trader, I also see the flaws of that. And with technical trading, the problem is is that so many people get caught up with indicators, just too many indicators, get their charts cluttered, they get information overload, confusion, all those type of things. You know, one timeframe's telling you something, or buy, then another timeframe's telling you you should be selling. And so you get complete confusion there.
I trade Candlesticks
But as a technical trader, I'm more based and focused on candlesticks and using candlesticks. Well they've been around for centuries so I figured when I started trading, "Look, if these candlesticks, Japanese candlesticks, have been around for centuries, I really should start looking at them and trying to understand why they are so successful." And like all things, you know, there are flaws in every system, nothing is perfect. I'm not saying just go out there and understand candle patterns and all of a sudden your trading will be perfect, that's not going to happen. But it's understanding how to use candle patterns and candlesticks.
And I've developed, I suppose, my own take on them. I don't use the traditional, you know, looking at multiple candlesticks and flags and triangles and those type of things.
Focus on the individual candle
I'm more focused on the individual candle that has just closed. Many benefits to that. Number one, you can trade different timeframe charts, but you only need to look at your charts at the close of a candle. So if you're trading, say a four hour chart, I know that, now I'm recording this, I've got another three and a half hours before I need to look at my four hour charts. It makes life very, very easy to do. It also means I can make my analysis once the candle has closed. Of course when it's closed it's not going to be moving anymore, there's no movement of indicators, horizontal levels are set, and it makes things very, very easy to do. And you can make your analysis without too much rush, you're not stressed, forcing to either be at your computer or to take a trade like righ...]]>https://theforextradingcoach.com/?p=10573Sun, 26 May 2019 15:20:39 +0000Andrew Mitchem Podcast: Why Candle Patterns Rule In this video: 00:33 – There are so many ways to trade 00:51 – The downside to Fundamental trading 01:22 – The flaws with Technical trading 01:52 – I trade Candlesticks 02:35 – Focus on the individual candle...Podcast:

Why Candle Patterns Rule
In this video:
00:33 – There are so many ways to trade
00:51 – The downside to Fundamental trading
01:22 – The flaws with Technical trading
01:52 – I trade Candlesticks
02:35 – Focus on the individual candle
03:29 – A candle paints a picture
04:05 – Helps with back testing
05:05 – 2 types of candles to trade
I'm going to talk about why candle patterns rule as a Forex trader. So let's get into that and more, right now.
Hey Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 322.
And I thought I'd take this opportunity … It's autumn here in New Zealand, beautiful day as you can see to get outside and make the video from out here, rather than standing in front of the charts.
There are so many ways to trade
So many different ways that you can trade Forex. Unfortunately, most of them are not good ways but the two traditional ways that people look at trading Forex are either to become a fundamental trader or a technical trader or sometimes a bit of both.
The downside to Fundamental trading
So the downside for being a fundamental trader, in my opinion, is that it becomes your opinion of what you see in the news, or what you hear in the news. Is that news better or worse than expected and there's so many different variables and it changes all the time, it's quite difficult to make an assessment, in my opinion. Now I know there's people out there watching this who will say, "Look, I'm a fundamental trader and I trade really well." That's great. But for most people, I believe that fundamental trading's not that easy.
The flaws with Technical trading
Technical trading. Well, as a technical trader, I also see the flaws of that. And with technical trading, the problem is is that so many people get caught up with indicators, just too many indicators, get their charts cluttered, they get information overload, confusion, all those type of things. You know, one timeframe's telling you something, or buy, then another timeframe's telling you you should be selling. And so you get complete confusion there.
I trade Candlesticks
But as a technical trader, I'm more based and focused on candlesticks and using candlesticks. Well they've been around for centuries so I figured when I started trading, "Look, if these candlesticks, Japanese candlesticks, have been around for centuries, I really should start looking at them and trying to understand why they are so successful." And like all things, you know, there are flaws in every system, nothing is perfect. I'm not saying just go out there and understand candle patterns and all of a sudden your trading will be perfect, that's not going to happen. But it's understanding how to use candle patterns and candlesticks.
And I've developed, I suppose, my own take on them. I don't use the traditional, you know, looking at multiple candlesticks and flags and triangles and those type of things.
Focus on the individual candle
I'm more focused on the individual candle that has just closed. Many benefits to that. Number one, you can trade different timeframe charts, but you only need to look at your charts at the close of a candle. So if you're trading, say a four hour chart, I know that, now I'm recording this, I've got another three and a half hours before I need to look at my four hour charts. It makes life very, very easy to do. It also means I can make my analysis once the candle has closed. Of course when it's closed it's not going to be moving anymore, there's no movement of indicators, horizontal levels are set, and it makes things very, very easy to do. And you can make your analysis without too much rush, you're not stressed, forcing to either be at your computer or to take a trade like righ...]]>392falsefullhttps://www.spreaker.com/episode/focus-on-being-a-good-trader-and-forget-the-money--18015062Podcast:

Focus on being a good trader and forget the money
In this video:
00:34 – Why it is important you focus on being a good trader
01:20 – Don’t run before you can walk
01:56 – Learn how to become good and get training
02:22 – Don’t focus on the money
02:55 – How do you learn how to trade well?
03:33 – You must start at the beginning
04:26 – Taking a course can short cut the learning process
05:25 – A large account size does not matter
I'm going to explain today why you need to focus on being a good trader, and don't focus on how much money you're making. Let's explain more right now.
Hi, traders. It's Andrew Mitchem here, from The Forex Trading Coach with video and podcast number 321. A really, really important lesson for you today, especially if you're new to trading.
Why it is important you focus on being a good trader
It's all about why it is so important that you focus on becoming a good trader. I'll explain more about what I mean.
Each day, and it's many times a day, I receive emails from people saying, "Hey, I've heard about Forex. I want to get into it, make some money." "I've lost my job. I'm desperate for money." "I need some passive income." "How much do I need in my trading account because I need to make $1,000 a week?" "How much am I going to make?" "How long is it going to take me so I can make lots of money in trading?" All those type of questions, really, really, really dangerous, dangerous questions.
Don’t run before you can walk
The reason I say they're dangerous is because these kind of questions are from people that are trying to jump the gun. They're trying to run well before they can walk. Unfortunately, and I can say this with honesty with experience because I've seen it so many times over the last 15 years since I've been trading and the last 10 years, especially since I've been coaching is that if you come into trading with that kind of mindset, that type of mentality, unfortunately, the truth is it's not likely to end well.
Learn how to become good and get training
You think about it, you could go into any other profession. You want to become a lawyer or a doctor or a mechanic or a farmer or whatever it might be, you have to get some training, some tuition, and start at the beginning. You have to build those foundation blocks. If you don't have a good foundation, the rest of it is going to crumble, and trading is exactly the same.
Don’t focus on the money
Rather than focusing on how much money you're making or losing, focus on the traits, focus on becoming a good trader, focus on you, your ability to trade, the strategy that you're trading, your mindset. All those type of things are far more important at the beginning of your trading journey than worrying about how much money you're making or you want to make. You see, it's so important that you learn the strategy.
How do you learn how to trade well?
And how to do that when you're starting out because, unfortunately, the Internet is absolutely full, like, you know, of hype, of all these people driving around in flash sports cars, of taking private jets everywhere, sitting on beaches, drinking cocktails with their laptops, all those kind of crazy pictures that you see.
Now, the reality, of course, is far different from that. Yes, you can make some incredible money from trading. I'm not suggesting that you cannot. Absolutely, you can. Once you master it, there's very little that beats it.
You must start at the beginning
However, you need to start at the beginning. We're kind of in this age of mentality where it says instant fix. You want something, it's on your phone, it's on Google. You want to take a picture, you can instantly do it, send it to people,]]>https://theforextradingcoach.com/?p=10560Sun, 19 May 2019 13:04:56 +0000Andrew Mitchem Podcast: Focus on being a good trader and forget the money In this video: 00:34 – Why it is important you focus on being a good trader 01:20 – Don’t run before you can walk 01:56 – Learn how to become good and get training 02:22 – Don’t focus on...Podcast:

Focus on being a good trader and forget the money
In this video:
00:34 – Why it is important you focus on being a good trader
01:20 – Don’t run before you can walk
01:56 – Learn how to become good and get training
02:22 – Don’t focus on the money
02:55 – How do you learn how to trade well?
03:33 – You must start at the beginning
04:26 – Taking a course can short cut the learning process
05:25 – A large account size does not matter
I'm going to explain today why you need to focus on being a good trader, and don't focus on how much money you're making. Let's explain more right now.
Hi, traders. It's Andrew Mitchem here, from The Forex Trading Coach with video and podcast number 321. A really, really important lesson for you today, especially if you're new to trading.
Why it is important you focus on being a good trader
It's all about why it is so important that you focus on becoming a good trader. I'll explain more about what I mean.
Each day, and it's many times a day, I receive emails from people saying, "Hey, I've heard about Forex. I want to get into it, make some money." "I've lost my job. I'm desperate for money." "I need some passive income." "How much do I need in my trading account because I need to make $1,000 a week?" "How much am I going to make?" "How long is it going to take me so I can make lots of money in trading?" All those type of questions, really, really, really dangerous, dangerous questions.
Don’t run before you can walk
The reason I say they're dangerous is because these kind of questions are from people that are trying to jump the gun. They're trying to run well before they can walk. Unfortunately, and I can say this with honesty with experience because I've seen it so many times over the last 15 years since I've been trading and the last 10 years, especially since I've been coaching is that if you come into trading with that kind of mindset, that type of mentality, unfortunately, the truth is it's not likely to end well.
Learn how to become good and get training
You think about it, you could go into any other profession. You want to become a lawyer or a doctor or a mechanic or a farmer or whatever it might be, you have to get some training, some tuition, and start at the beginning. You have to build those foundation blocks. If you don't have a good foundation, the rest of it is going to crumble, and trading is exactly the same.
Don’t focus on the money
Rather than focusing on how much money you're making or losing, focus on the traits, focus on becoming a good trader, focus on you, your ability to trade, the strategy that you're trading, your mindset. All those type of things are far more important at the beginning of your trading journey than worrying about how much money you're making or you want to make. You see, it's so important that you learn the strategy.
How do you learn how to trade well?
And how to do that when you're starting out because, unfortunately, the Internet is absolutely full, like, you know, of hype, of all these people driving around in flash sports cars, of taking private jets everywhere, sitting on beaches, drinking cocktails with their laptops, all those kind of crazy pictures that you see.
Now, the reality, of course, is far different from that. Yes, you can make some incredible money from trading. I'm not suggesting that you cannot. Absolutely, you can. Once you master it, there's very little that beats it.
You must start at the beginning
However, you need to start at the beginning. We're kind of in this age of mentality where it says instant fix. You want something, it's on your phone, it's on Google. You want to take a picture, you can instantly do it, send it to people,]]>387falsefullhttps://www.spreaker.com/episode/320-trading-with-high-reward-risk-trades--17906486
Trading with High Reward:Risk Trades
In this video:
00:34 – Reward:Risk is often overlooked
01:15 – Don’t worry so much about win rates
01:57 – Trade makes a massive 9.2:1 R:R
03:30 – A 2.3% account gain with a 0.25% account risk
03:56 – Live Webinar and 4 trades close for full profit
I'd like to share with you the importance of achieving high reward to risk trades in your trading, how it can help you so much, and also let you know about a massive trade that we took last week. Closed profit this week for 9.2 reward to risk trade. Listen up. I've got some great tips for you.
Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach video and podcast number 320.
Reward:Risk is often overlooked
Now reward to risk, sometimes not the most exciting part of Forex trading. It's often overlooked, but it's something that you should not overlook and it's something that you should really strive very hard to achieve high reward to risk trades in your trading. Why? Well, if nothing else, when you achieve a high reward to risk trade, not only does it make good profit in your bank account, but it gives you a massive boost. It gives you a huge amount of confidence, because what it then allows you to do is have maybe a few losing trades, but your profitable trade that you've just had eats up those small losses plus lots more, and that's why it's good.
Don’t worry so much about win rates
You see people get too caught up in talking about win rates, and I get it all the time. People say to me, "Hey Andrew, how many trades do you get as winning trades? What's your win percentage?" And I've seen people, true story, I've seen people with a 90% win rate who lose money because they have lots of small trades, and then one big losing trade. Lots of small trades, one big losing trade. So they might have lots and lots of gains, 90% gains, 90% winning trades, but they are still losing money, and that's not good. Dents your confidence cause that one big losing trade smashes through all those good trades that you've just slowly built up.
Trade makes a massive 9.2:1 R:R
Let's flip that in reverse and look at it the other way. You need to have high reward to risk trades, so the trade that I suggested on my membership site to my clients just last week on the 1st of May was a sell trade on the New Zealand dollar Japanese yen based on the monthly chart.
So go and have a look at the monthly charts for the close rate for 2019, and you'll see the setup that we took. Now, we enter our trades with a part of our position at a retracement and part at the market order, so I split up a half percent risk and total quarter percent risk at the retracement if it gets that quarter percent at the market. Now unfortunately our retracement order didn't quite get filled by just four pips. That missed being the perfect retracement by four pips. If it hadn't made profit, it would have made a 214 pips, and it would have made a 3.2 reward to risk trade. Still really nice, however our market order, which obviously it was in the market at the beginning of the month, had a very small stop loss. Only 22 pips stop loss because that's where it needed to be, and it had a huge 214 pip profit target, which it hit yesterday on the 9th of May, so we ended up making 214 pips.
That doesn't matter. What does matter is that we had a small stop loss, and again the small stop loss is not even the point. The point is we made a massive 9.2 to one reward to risk gain out of that trade. That is absolutely huge.
A 2.3% account gain with a 0.25% account risk
So with our quarter percent risk on that one trade, it still made us a massive 2.3% gain on our account. So think of it that way. Quarter percent risk, real tiny, tiny risk, but a huge 2.3% account gain. Very, very important you see that happen on your charts an...]]>https://theforextradingcoach.com/?p=10544Sun, 12 May 2019 13:12:44 +0000Andrew MitchemPodcast: Trading with High Reward:Risk Trades In this video: 00:34 – Reward:Risk is often overlooked 01:15 – Don’t worry so much about win rates 01:57 – Trade makes a massive 9.2:1 R:R 03:30 – A 2.3% account gain with a 0.25% account risk 03:56 –...
Trading with High Reward:Risk Trades
In this video:
00:34 – Reward:Risk is often overlooked
01:15 – Don’t worry so much about win rates
01:57 – Trade makes a massive 9.2:1 R:R
03:30 – A 2.3% account gain with a 0.25% account risk
03:56 – Live Webinar and 4 trades close for full profit
I'd like to share with you the importance of achieving high reward to risk trades in your trading, how it can help you so much, and also let you know about a massive trade that we took last week. Closed profit this week for 9.2 reward to risk trade. Listen up. I've got some great tips for you.
Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach video and podcast number 320.
Reward:Risk is often overlooked
Now reward to risk, sometimes not the most exciting part of Forex trading. It's often overlooked, but it's something that you should not overlook and it's something that you should really strive very hard to achieve high reward to risk trades in your trading. Why? Well, if nothing else, when you achieve a high reward to risk trade, not only does it make good profit in your bank account, but it gives you a massive boost. It gives you a huge amount of confidence, because what it then allows you to do is have maybe a few losing trades, but your profitable trade that you've just had eats up those small losses plus lots more, and that's why it's good.
Don’t worry so much about win rates
You see people get too caught up in talking about win rates, and I get it all the time. People say to me, "Hey Andrew, how many trades do you get as winning trades? What's your win percentage?" And I've seen people, true story, I've seen people with a 90% win rate who lose money because they have lots of small trades, and then one big losing trade. Lots of small trades, one big losing trade. So they might have lots and lots of gains, 90% gains, 90% winning trades, but they are still losing money, and that's not good. Dents your confidence cause that one big losing trade smashes through all those good trades that you've just slowly built up.
Trade makes a massive 9.2:1 R:R
Let's flip that in reverse and look at it the other way. You need to have high reward to risk trades, so the trade that I suggested on my membership site to my clients just last week on the 1st of May was a sell trade on the New Zealand dollar Japanese yen based on the monthly chart.
So go and have a look at the monthly charts for the close rate for 2019, and you'll see the setup that we took. Now, we enter our trades with a part of our position at a retracement and part at the market order, so I split up a half percent risk and total quarter percent risk at the retracement if it gets that quarter percent at the market. Now unfortunately our retracement order didn't quite get filled by just four pips. That missed being the perfect retracement by four pips. If it hadn't made profit, it would have made a 214 pips, and it would have made a 3.2 reward to risk trade. Still really nice, however our market order, which obviously it was in the market at the beginning of the month, had a very small stop loss. Only 22 pips stop loss because that's where it needed to be, and it had a huge 214 pip profit target, which it hit yesterday on the 9th of May, so we ended up making 214 pips.
That doesn't matter. What does matter is that we had a small stop loss, and again the small stop loss is not even the point. The point is we made a massive 9.2 to one reward to risk gain out of that trade. That is absolutely huge.
A 2.3% account gain with a 0.25% account risk
So with our quarter percent risk on that one trade, it still made us a massive 2.3% gain on our account. So think of it that way. Quarter percent risk, real tiny, tiny risk, but a huge 2.3% account gain. Very, very important you see that happen on your charts an...]]>304falsefullhttps://www.spreaker.com/episode/319-do-you-the-lack-time-to-trade-correctly--17840476
Do you the lack time to trade correctly?
In this weekly video:
00:29 – The biggest problem – a lack of time
01:10 – How we can help you at TFTC
01:31 – Trader from Noosa, Australia on Weekly charts
02:45 – A massive +5.3% gain in the last week
04:30 – Details are below
Do you find that you just don't have enough spare time or energy to trade the Forex market properly? If that's your issue, listen up. I've got some really great information to help you.
Hey Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast #319.
The biggest problem – a lack of time
Last week I sent out some forms and I said to people, "Just let me know what your biggest trading problem is?" Without doubt, one of the biggest issues that many of you face is you just don't feel like you have enough time. Like there's just not enough hours in the day to do the things that you need to do. Time you've been to work, time you travel, time you got home, time you looked after the kids and fed them and put them to bed. Other commitments; sports, clubs, whatever it might be. That really the last thing that you feel like or having the energy to feel like doing is sitting down and watching the charts for hour upon hour upon hour just waiting for that set up to occur. It's a common problem and I really understand it and I really get it.
How we can help you at TFTC
So the great thing is about that is that I can definitely help you there. How do I know I can help you? Over the last 10 years I've helped so many people who have been in similar positions to you. Now with my strategy, the good thing about it is it works across all currency pairs. But more importantly, it works across all timeframe charts.
Trader from Noosa, Australia on Weekly charts
Now I'll give you an example. My very first client over in Noosa in Australia, beautiful part of the world. The guy that I taught ended up owning a running a five-star restaurant over there. He was the owner, one of the head chefs, just fully on commitment seven days a week. He had two young kids at the time as well. He ended up trading just the weekly charts and doing exceptionally well. Now I caught up with him on a Skype session about six months ago. He's now spent the last two years with his wife and his two kids travelling around Europe. He's just loving it; he's travelling from country to country and they are just absolutely having a fantastic time. He's still trading, but all he's doing now is he's trading the weekly charts like he used to plus he's adding the daily charts. So it means he's trading for 10 minutes once a day on his laptop. Shuts the laptop down, does his travelling, has a great day. Next day 10 minutes, move on. Really, really great way of trading.
You can apply that whether you're travelling around the world with your wife and your kids or whether you just have so many commitments and lack of time at home doing what you're doing right now.
A massive +5.3% gain in the last week
To give you another example, in the last week with the daily trades we've made a 3.5% gain with only risking half of 1% on each trade. So 3.5% gain. Also on the weekly charts… I've just closed out a weekly chart trade just yesterday, made a 1.8% gain on the Pound/Australian Dollar. We've got two trades still open on the weekly charts right now as I'm making this video with a open position of 1.5% gain. But on the closed trades, the daily chart trades and that one weekly chart trade, we've made a net of + 5.3% gain so far in the last week. So 5.3% and that's taken us 10 minutes a day, if that.
The other benefit is if you become a client, all of those trades with the exact entry and exits and the reasons for taking the trade, more importantly the actual reasons,]]>https://theforextradingcoach.com/?p=10532Sun, 05 May 2019 13:14:28 +0000Andrew MitchemPodcast: Do you the lack time to trade correctly? In this weekly video: 00:29 – The biggest problem – a lack of time 01:10 – How we can help you at TFTC 01:31 – Trader from Noosa, Australia on Weekly charts 02:45 – A massive +5.3% gain in the last...
Do you the lack time to trade correctly?
In this weekly video:
00:29 – The biggest problem – a lack of time
01:10 – How we can help you at TFTC
01:31 – Trader from Noosa, Australia on Weekly charts
02:45 – A massive +5.3% gain in the last week
04:30 – Details are below
Do you find that you just don't have enough spare time or energy to trade the Forex market properly? If that's your issue, listen up. I've got some really great information to help you.
Hey Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast #319.
The biggest problem – a lack of time
Last week I sent out some forms and I said to people, "Just let me know what your biggest trading problem is?" Without doubt, one of the biggest issues that many of you face is you just don't feel like you have enough time. Like there's just not enough hours in the day to do the things that you need to do. Time you've been to work, time you travel, time you got home, time you looked after the kids and fed them and put them to bed. Other commitments; sports, clubs, whatever it might be. That really the last thing that you feel like or having the energy to feel like doing is sitting down and watching the charts for hour upon hour upon hour just waiting for that set up to occur. It's a common problem and I really understand it and I really get it.
How we can help you at TFTC
So the great thing is about that is that I can definitely help you there. How do I know I can help you? Over the last 10 years I've helped so many people who have been in similar positions to you. Now with my strategy, the good thing about it is it works across all currency pairs. But more importantly, it works across all timeframe charts.
Trader from Noosa, Australia on Weekly charts
Now I'll give you an example. My very first client over in Noosa in Australia, beautiful part of the world. The guy that I taught ended up owning a running a five-star restaurant over there. He was the owner, one of the head chefs, just fully on commitment seven days a week. He had two young kids at the time as well. He ended up trading just the weekly charts and doing exceptionally well. Now I caught up with him on a Skype session about six months ago. He's now spent the last two years with his wife and his two kids travelling around Europe. He's just loving it; he's travelling from country to country and they are just absolutely having a fantastic time. He's still trading, but all he's doing now is he's trading the weekly charts like he used to plus he's adding the daily charts. So it means he's trading for 10 minutes once a day on his laptop. Shuts the laptop down, does his travelling, has a great day. Next day 10 minutes, move on. Really, really great way of trading.
You can apply that whether you're travelling around the world with your wife and your kids or whether you just have so many commitments and lack of time at home doing what you're doing right now.
A massive +5.3% gain in the last week
To give you another example, in the last week with the daily trades we've made a 3.5% gain with only risking half of 1% on each trade. So 3.5% gain. Also on the weekly charts… I've just closed out a weekly chart trade just yesterday, made a 1.8% gain on the Pound/Australian Dollar. We've got two trades still open on the weekly charts right now as I'm making this video with a open position of 1.5% gain. But on the closed trades, the daily chart trades and that one weekly chart trade, we've made a net of + 5.3% gain so far in the last week. So 5.3% and that's taken us 10 minutes a day, if that.
The other benefit is if you become a client, all of those trades with the exact entry and exits and the reasons for taking the trade, more importantly the actual reasons,]]>292falsefullhttps://www.spreaker.com/episode/318-what-is-missing-from-your-trading--17768713Podcast:

What is missing from your trading?
In this weekly video:
00:27 – Something different this week – what is holding you back?
01:16 – Everyone has different trading issues. What is yours?
01:41 – Complete the form on this page
02:17 – Let me help you
02:38 – Feel free to share this video
What is it that you need the most help with in order to turn your trading around? Let's get into that and more, right now.
Hi Forex Traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 318.
Something different this week – what is holding you back?
So something a little bit different today, normally I'm explaining how I trade and different things that I'm looking for to help you with your trading, but today I figured let's change that around, and I going to ask you the question. I want to ask you what it is that I can do to best help you. What do you need the most, help with what's holding you back, what's your biggest concerns, biggest frustrations with trading in general. So, why don't you ask me the question, and I'll use my 15 years of knowledge and my wealth of experience as a full-time trader of 15 years and a coach for thousands of traders worldwide for the last 10+ years. Let me share some information with you, but let's make it specific for what you have a problem with.
Everyone has different trading issues. What is yours?
‘Cause everybody has different stages to the journey, everybody has different issues. It might be a lack of finance, it might be a lack of time, it might a lack of support from a partner, it might be you're too reactive, it may be all sorts of manner of different things, but what I want to know to best help you is let me know the problems that you have.
Complete the form on this page
So on this page you'll find there's a form. What you need to do is let me know your biggest training problem on that form. It'll come through and then I will get back to you with some suggestions. If you're watching this video on YouTube, you'll find a link below this video, which will then take you through to a page with the form on it, and if you're listening to me on a podcast, and you're not watching a video, all you need to do is just email me directly, andrew@theforextradingcoach.com and I will then get back to you as well.
Let me help you
Come back to me, let me help you, and like I said, just use the information and I've gained over the years as a full-time trader, a fund manager, someone that's created algorithms, and someone that's done the coaching as well. If there is anything at all that I can help you with, I'll be glad to do so.
Feel free to share this video
And if you know anybody else that is interested in trading, feel free to share this video. Feel free to share the link through to the form and so I can help them as well. My aim as a coach is to help as many people do well out of this amazing industry as possible. We're all here, we're all in the same boat or in the same position as individual Forex traders all wanting to make money out of the Forex market and enjoy it and better ourselves and better our lives for us and our families.
Fill in your details on the form that will be on this page, and I will get back to you as soon as I can with some helpful tips and information.
Click Here To Check My AM Trade Copier Service
Click Here To Know More About The Course

 
Fill up the form below:
 ]]>https://theforextradingcoach.com/?p=10519Fri, 26 Apr 2019 03:26:40 +0000Andrew Mitchem Podcast: What is missing from your trading? In this weekly video: 00:27 – Something different this week – what is holding you back? 01:16 – Everyone has different trading issues. What is yours? 01:41 – Complete the form on this page 02:17...Podcast:

What is missing from your trading?
In this weekly video:
00:27 – Something different this week – what is holding you back?
01:16 – Everyone has different trading issues. What is yours?
01:41 – Complete the form on this page
02:17 – Let me help you
02:38 – Feel free to share this video
What is it that you need the most help with in order to turn your trading around? Let's get into that and more, right now.
Hi Forex Traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 318.
Something different this week – what is holding you back?
So something a little bit different today, normally I'm explaining how I trade and different things that I'm looking for to help you with your trading, but today I figured let's change that around, and I going to ask you the question. I want to ask you what it is that I can do to best help you. What do you need the most, help with what's holding you back, what's your biggest concerns, biggest frustrations with trading in general. So, why don't you ask me the question, and I'll use my 15 years of knowledge and my wealth of experience as a full-time trader of 15 years and a coach for thousands of traders worldwide for the last 10+ years. Let me share some information with you, but let's make it specific for what you have a problem with.
Everyone has different trading issues. What is yours?
‘Cause everybody has different stages to the journey, everybody has different issues. It might be a lack of finance, it might be a lack of time, it might a lack of support from a partner, it might be you're too reactive, it may be all sorts of manner of different things, but what I want to know to best help you is let me know the problems that you have.
Complete the form on this page
So on this page you'll find there's a form. What you need to do is let me know your biggest training problem on that form. It'll come through and then I will get back to you with some suggestions. If you're watching this video on YouTube, you'll find a link below this video, which will then take you through to a page with the form on it, and if you're listening to me on a podcast, and you're not watching a video, all you need to do is just email me directly, andrew@theforextradingcoach.com and I will then get back to you as well.
Let me help you
Come back to me, let me help you, and like I said, just use the information and I've gained over the years as a full-time trader, a fund manager, someone that's created algorithms, and someone that's done the coaching as well. If there is anything at all that I can help you with, I'll be glad to do so.
Feel free to share this video
And if you know anybody else that is interested in trading, feel free to share this video. Feel free to share the link through to the form and so I can help them as well. My aim as a coach is to help as many people do well out of this amazing industry as possible. We're all here, we're all in the same boat or in the same position as individual Forex traders all wanting to make money out of the Forex market and enjoy it and better ourselves and better our lives for us and our families.
Fill in your details on the form that will be on this page, and I will get back to you as soon as I can with some helpful tips and information.
Click Here To Check My AM Trade Copier Service
Click Here To Know More About The Course

 
Fill up the form below:
 ]]>201falsefullhttps://www.spreaker.com/episode/317-trading-the-fx-market-when-volatility-is-low--17641436Podcast:

Trading the FX market when volatility is low
In this weekly video:
00:30 – A topical subject – a lack of volatility
01:00 – Do not have a strategy that requires massive trends
01:27 – You need patience to trade these conditions
02:10 – Looking at several different time frame charts
03:00 – Hardly any strong trends right now
03:48 – Get your account auto traded at AMForexCopier.com
04:44 – Making sure your trading strategy is a good one
How do you trade the Forex market when volatility is low, exactly like we've seen so far this year in 2019? Let's discuss that and more right now.
Hi Forex traders, it's Andrew Mitchem here from the Forex Trading Coach with video and podcast number 317.
A topical subject – a lack of volatility
I want to discuss a really important subject because it's topical for right now. It's been emailed in from Raphael, and Raphael said, "Andrew can you talk about the Forex market and the volatility or the lack of volatility that we've seen over the past three months?" So here we are in April, 2019, and pretty much since the beginning of the year since January volatility has been quite low. There's not been a great deal happening on the markets in general. There's different ways to approach that, and we'll discuss those shortly.
Do not have a strategy that requires massive trends
Now what I did need to say to you is that if your trading strategy requires there to be huge trends, like day after day after day or week after week of big up-trends and big down-trends, if that's what your strategy requires in order to be successful, I'm picking that right now here we are in April, 2019, I'm guessing your year has not started well. Maybe that's the issue that Raphael is having.
You need patience to trade these conditions
So there's different ways of looking at it. To me, you need to have patience in your trading. It's really, really important that you have patience. Don't just go taking trades just for the sake of trading. If there's nothing there, don't take anything. As an example, this week on the weekly charts I've suggested there are no trades to my clients. Yes, I've suggested some strength and weaknesses based on the weekly charts, but no specific trades. Last week there were three. When I hold my live webinars and I discuss the trades that we've seen, the good set-ups according to our strategy over the past week, sometimes I'm finding that the four hour charts would have tremendous setups and then another week the four hour charts have very few setups.
Looking at several different time frame charts
So it all comes down to when you get these low volatility trading conditions is having the ability to look at several different timeframe charts. That's why we use offline charts and we have the ability to look on MT4 at charts like six hours, eight hours, 12 hour charts as well as the normal standard MT4 charts.
Because when we have the ability to look at different timeframe charts, that's what gives us the edge and that's what gives us the flexibility to look at what's happening in the market and only picking those very top quality A-grade setups. Really important that you do that.
If you are trading say the daily charts and you need to have strength after strength after strength, then right now you're not doing well. So it comes down to trading what you see on the charts at the time.
Hardly any strong trends right now
Using some strength and weakness as well. Really important that you do that, because the market is kind of all over the place. It's not a really obvious trend in hardly any currency pairs right now. Even the Euro and even the Pound with all the Brexit news going on. When you would expect the Pound to be dropping sometimes it's going back up again.]]>https://theforextradingcoach.com/?p=10504Sun, 14 Apr 2019 20:42:23 +0000Andrew Mitchem Podcast: Trading the FX market when volatility is low In this weekly video: 00:30 – A topical subject – a lack of volatility 01:00 – Do not have a strategy that requires massive trends 01:27 – You need patience to trade these conditions...Podcast:

Trading the FX market when volatility is low
In this weekly video:
00:30 – A topical subject – a lack of volatility
01:00 – Do not have a strategy that requires massive trends
01:27 – You need patience to trade these conditions
02:10 – Looking at several different time frame charts
03:00 – Hardly any strong trends right now
03:48 – Get your account auto traded at AMForexCopier.com
04:44 – Making sure your trading strategy is a good one
How do you trade the Forex market when volatility is low, exactly like we've seen so far this year in 2019? Let's discuss that and more right now.
Hi Forex traders, it's Andrew Mitchem here from the Forex Trading Coach with video and podcast number 317.
A topical subject – a lack of volatility
I want to discuss a really important subject because it's topical for right now. It's been emailed in from Raphael, and Raphael said, "Andrew can you talk about the Forex market and the volatility or the lack of volatility that we've seen over the past three months?" So here we are in April, 2019, and pretty much since the beginning of the year since January volatility has been quite low. There's not been a great deal happening on the markets in general. There's different ways to approach that, and we'll discuss those shortly.
Do not have a strategy that requires massive trends
Now what I did need to say to you is that if your trading strategy requires there to be huge trends, like day after day after day or week after week of big up-trends and big down-trends, if that's what your strategy requires in order to be successful, I'm picking that right now here we are in April, 2019, I'm guessing your year has not started well. Maybe that's the issue that Raphael is having.
You need patience to trade these conditions
So there's different ways of looking at it. To me, you need to have patience in your trading. It's really, really important that you have patience. Don't just go taking trades just for the sake of trading. If there's nothing there, don't take anything. As an example, this week on the weekly charts I've suggested there are no trades to my clients. Yes, I've suggested some strength and weaknesses based on the weekly charts, but no specific trades. Last week there were three. When I hold my live webinars and I discuss the trades that we've seen, the good set-ups according to our strategy over the past week, sometimes I'm finding that the four hour charts would have tremendous setups and then another week the four hour charts have very few setups.
Looking at several different time frame charts
So it all comes down to when you get these low volatility trading conditions is having the ability to look at several different timeframe charts. That's why we use offline charts and we have the ability to look on MT4 at charts like six hours, eight hours, 12 hour charts as well as the normal standard MT4 charts.
Because when we have the ability to look at different timeframe charts, that's what gives us the edge and that's what gives us the flexibility to look at what's happening in the market and only picking those very top quality A-grade setups. Really important that you do that.
If you are trading say the daily charts and you need to have strength after strength after strength, then right now you're not doing well. So it comes down to trading what you see on the charts at the time.
Hardly any strong trends right now
Using some strength and weakness as well. Really important that you do that, because the market is kind of all over the place. It's not a really obvious trend in hardly any currency pairs right now. Even the Euro and even the Pound with all the Brexit news going on. When you would expect the Pound to be dropping sometimes it's going back up again.]]>341falsefullhttps://www.spreaker.com/episode/316-using-historical-highs-lows--17561339Podcast:

Using Historical Highs & Lows
In this weekly video:
00:28 – Trader asks a question about using previous highs and lows
01:08 – Highs and lows are set, not subjective
01:38 – Bouncing at a round numbers
02:13 – Factors creating highs and lows
02:38 – How I trade and use highs and lows
03:33 – Using these levels to help us trade better
04:28 – Where to put your profit target?
05:35 – Email me with your questions
I'm gonna explain how to use historical highs and lows in the price action to aid you with your Forex trading entry and exits. Let's get into that more right now.
Hi traders, it's Andrew Mitchem here from the Forex Trading Coach with the video and podcast number 316.
Trader asks a question about using previous highs and lows
I've received an email here from Colin. Colin said to me, "Hey Andrew, can you talk about historical prices? Highs and lows, support and resistance, and how they correlate with aiding entry and exit levels within the market." Colin that's an excellent question.
Quite simply, we use those levels all of the time. Why? Well, what I love about historical highs and lows is they're actual levels. You can see them on your charts. Everybody can see them. It doesn't matter where in the world you are, what timeframes you're trading, doesn't matter what trading platform you're on. All those type of things.
Highs and lows are set, not subjective
Everybody can see where the price is stored, highs and lows, where they are. They're not subjective. When you start drawing trend lines … Now, we do use trend lines but when you start drawing things like trend lines, and you're looking at other levels, and certainly when you can't start adding indicators on your charts, they become quite subjective. The settings will be different depending on your price fee, depending on the timeframe chart you're on, depending on your broker. All those type of things, they can be different but highs and lows are there. They're set.
Now, when you go a little bit further into them, and delve a bit deeper, you'll probably find that when you look at them, and look at the actual price itself, you'll quite often find that historical highs and lows.
Bouncing at a round numbers
It's remarkable how often they do bounce at what I call a round number. It's a price level ending in a 00 or a 50.
You know, they happen all of the time when you look at your charts. Why? Because that's where the big players are pushing the market. That's where they reverse the market. All those type of levels, the 50s and the 00s, historically become very good high and low levels, bounce levels.
Factors creating highs and lows
Those highs and lows that you see on your chart may also be caused by other factors. They could be caused by news events suddenly changing the market or they could become like fib levels, Fibonacci levels, all those type of things. When it comes to it though, the actual reality is, sometimes you actually really don't need to know why they've occurred, all you need to know is that they have, and you need to seed them, and be able to use them.
How I trade and use highs and lows
The way that I like to trade, as you know, I look at individual candle shapes and patterns, where they've occurred and why. The where and why, we now start to add historical highs and lows into that. Let's say that you're buying a currency pair. Let's say you're buying the British pound, US dollar, let's say. It's come down to what was historical low? It may be a low that happened just yesterday, it could be a low that happened last week, last month. Who knows? Depends on the timeframe chart that you're on but you've seen the price come down and it's bounced at a level that, on your chart when you look to the left hand side...]]>https://theforextradingcoach.com/?p=10482Sun, 07 Apr 2019 14:42:58 +0000Andrew Mitchem Podcast: Using Historical Highs & Lows In this weekly video: 00:28 – Trader asks a question about using previous highs and lows 01:08 – Highs and lows are set, not subjective 01:38 – Bouncing at a round numbers 02:13 – Factors creating...Podcast:

Using Historical Highs & Lows
In this weekly video:
00:28 – Trader asks a question about using previous highs and lows
01:08 – Highs and lows are set, not subjective
01:38 – Bouncing at a round numbers
02:13 – Factors creating highs and lows
02:38 – How I trade and use highs and lows
03:33 – Using these levels to help us trade better
04:28 – Where to put your profit target?
05:35 – Email me with your questions
I'm gonna explain how to use historical highs and lows in the price action to aid you with your Forex trading entry and exits. Let's get into that more right now.
Hi traders, it's Andrew Mitchem here from the Forex Trading Coach with the video and podcast number 316.
Trader asks a question about using previous highs and lows
I've received an email here from Colin. Colin said to me, "Hey Andrew, can you talk about historical prices? Highs and lows, support and resistance, and how they correlate with aiding entry and exit levels within the market." Colin that's an excellent question.
Quite simply, we use those levels all of the time. Why? Well, what I love about historical highs and lows is they're actual levels. You can see them on your charts. Everybody can see them. It doesn't matter where in the world you are, what timeframes you're trading, doesn't matter what trading platform you're on. All those type of things.
Highs and lows are set, not subjective
Everybody can see where the price is stored, highs and lows, where they are. They're not subjective. When you start drawing trend lines … Now, we do use trend lines but when you start drawing things like trend lines, and you're looking at other levels, and certainly when you can't start adding indicators on your charts, they become quite subjective. The settings will be different depending on your price fee, depending on the timeframe chart you're on, depending on your broker. All those type of things, they can be different but highs and lows are there. They're set.
Now, when you go a little bit further into them, and delve a bit deeper, you'll probably find that when you look at them, and look at the actual price itself, you'll quite often find that historical highs and lows.
Bouncing at a round numbers
It's remarkable how often they do bounce at what I call a round number. It's a price level ending in a 00 or a 50.
You know, they happen all of the time when you look at your charts. Why? Because that's where the big players are pushing the market. That's where they reverse the market. All those type of levels, the 50s and the 00s, historically become very good high and low levels, bounce levels.
Factors creating highs and lows
Those highs and lows that you see on your chart may also be caused by other factors. They could be caused by news events suddenly changing the market or they could become like fib levels, Fibonacci levels, all those type of things. When it comes to it though, the actual reality is, sometimes you actually really don't need to know why they've occurred, all you need to know is that they have, and you need to seed them, and be able to use them.
How I trade and use highs and lows
The way that I like to trade, as you know, I look at individual candle shapes and patterns, where they've occurred and why. The where and why, we now start to add historical highs and lows into that. Let's say that you're buying a currency pair. Let's say you're buying the British pound, US dollar, let's say. It's come down to what was historical low? It may be a low that happened just yesterday, it could be a low that happened last week, last month. Who knows? Depends on the timeframe chart that you're on but you've seen the price come down and it's bounced at a level that, on your chart when you look to the left hand side...]]>354falsefullhttps://www.spreaker.com/episode/315-creating-your-dream-lifestyle-using-forex-trading--17489049Podcast:

Creating your Dream Lifestyle using Forex Trading
In this weekly video:
00:26 – Creating the dream and the lifestyle
01:07 – Are you serious about wanting to trade?
02:04 – Teaching you a skill
03:00 – Your account size right now does not matter
03:32 – Comments and videos from trading clients
07:06 – We’re not about selling a course
07:39 – 10th Birthday this week – don’t miss out on this opportunity
Wanted to talk today about creating your dream lifestyle by using forex to aid you in that. So let's get into that and more right now.
Hey Forex Traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 315.
Creating the dream and the lifestyle
I want to talk all about what it is that you're after out of your life, creating the dream, creating the lifestyle that you're after, and how trading can help you do that. Now, if you're watching this video, you'll see that down here, here's one of my best mates. My dog called Pip, and appropriately enough, she's called Pip as a forex trader.
But here's Pip off to go and get a ball probably, but I'm working from home. This is my house there. Sat by the pool here today, filming this for you, because trading has allowed me to create the lifestyle that I'm after, and I'd like to help you do that as well. When you think about it, with The Forex Trading Coach, we're helping people create dreams. We're helping people create lifestyles.
Are you serious about wanting to trade?
If you're serious about changing the way that you're currently doing things, and you like trading to be a part of that, then you're the sort of person that really should be with us, on board with us.
You see, we're not about creating multimillionaires overnight. We're not about unrealistic dreams and expectations. That's not us at all. We're real people, real traders. You see, what I think the best thing for a lot of people to do is to … When they join with The Forex Trading Coach, it's not to give up your day job straight away. Don't do that. That's silly. That's unrealistic. Don't expect to retire next year from trading straight away.
Teaching you a skill
But what we're about is teaching you a skill. We're about teaching you the ability to be able to make money through trading, and you don't even need money straight away. That's the other thing.
A lot of people come to me and they say, "Hey Andrew. Look, I can't afford to have a decent enough live account to make a living from." Now of course you're not, because most people don't have that kind of disposable income. Even if you did, you'd be absolutely stupid to put that into a trading account straight away if you don't know what you're doing. So we're about teaching you the ability to be able to trade. I can help you in many ways by getting you to become a good trader, and then you can sell trading signals.
You could sell your system through having a good record on places like Myfxbook and gain passive income. Plenty and plenty of ways to grow your account if your account size is the issue right now.
Your account size right now does not matter
But to be perfectly honest and perfectly blunt, your account size right now does not matter because it's understanding how to trade that matters right now. So, get that right, and then you can create that lifestyle that you're looking for. You can eventually get to a stage where you say goodbye to your boss. You're spending more time at home with your family or travelling, whatever it is that you want to do, and that's really what we are about creating.
We want to help people create that lifestyle and not be glued to the charts either. So, lots of lots of different ways we can help you.
Comments and videos from trading clients
Now,]]>https://theforextradingcoach.com/?p=10432Sun, 31 Mar 2019 14:17:41 +0000Andrew Mitchem Podcast: Creating your Dream Lifestyle using Forex Trading In this weekly video: 00:26 – Creating the dream and the lifestyle 01:07 – Are you serious about wanting to trade? 02:04 – Teaching you a skill 03:00 – Your account size right now...Podcast:

Creating your Dream Lifestyle using Forex Trading
In this weekly video:
00:26 – Creating the dream and the lifestyle
01:07 – Are you serious about wanting to trade?
02:04 – Teaching you a skill
03:00 – Your account size right now does not matter
03:32 – Comments and videos from trading clients
07:06 – We’re not about selling a course
07:39 – 10th Birthday this week – don’t miss out on this opportunity
Wanted to talk today about creating your dream lifestyle by using forex to aid you in that. So let's get into that and more right now.
Hey Forex Traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 315.
Creating the dream and the lifestyle
I want to talk all about what it is that you're after out of your life, creating the dream, creating the lifestyle that you're after, and how trading can help you do that. Now, if you're watching this video, you'll see that down here, here's one of my best mates. My dog called Pip, and appropriately enough, she's called Pip as a forex trader.
But here's Pip off to go and get a ball probably, but I'm working from home. This is my house there. Sat by the pool here today, filming this for you, because trading has allowed me to create the lifestyle that I'm after, and I'd like to help you do that as well. When you think about it, with The Forex Trading Coach, we're helping people create dreams. We're helping people create lifestyles.
Are you serious about wanting to trade?
If you're serious about changing the way that you're currently doing things, and you like trading to be a part of that, then you're the sort of person that really should be with us, on board with us.
You see, we're not about creating multimillionaires overnight. We're not about unrealistic dreams and expectations. That's not us at all. We're real people, real traders. You see, what I think the best thing for a lot of people to do is to … When they join with The Forex Trading Coach, it's not to give up your day job straight away. Don't do that. That's silly. That's unrealistic. Don't expect to retire next year from trading straight away.
Teaching you a skill
But what we're about is teaching you a skill. We're about teaching you the ability to be able to make money through trading, and you don't even need money straight away. That's the other thing.
A lot of people come to me and they say, "Hey Andrew. Look, I can't afford to have a decent enough live account to make a living from." Now of course you're not, because most people don't have that kind of disposable income. Even if you did, you'd be absolutely stupid to put that into a trading account straight away if you don't know what you're doing. So we're about teaching you the ability to be able to trade. I can help you in many ways by getting you to become a good trader, and then you can sell trading signals.
You could sell your system through having a good record on places like Myfxbook and gain passive income. Plenty and plenty of ways to grow your account if your account size is the issue right now.
Your account size right now does not matter
But to be perfectly honest and perfectly blunt, your account size right now does not matter because it's understanding how to trade that matters right now. So, get that right, and then you can create that lifestyle that you're looking for. You can eventually get to a stage where you say goodbye to your boss. You're spending more time at home with your family or travelling, whatever it is that you want to do, and that's really what we are about creating.
We want to help people create that lifestyle and not be glued to the charts either. So, lots of lots of different ways we can help you.
Comments and videos from trading clients
Now,]]>528falsefullhttps://www.spreaker.com/episode/314-why-our-trading-strategy-works--17425947Podcast:

Why Our Trading Strategy Works
In this weekly video:
00:25 – Why does your system work?
00:43 – Issues so many traders have
01:35 – A trader who traded 5 minute charts
02:20 – My strategy is realistic to trade
02:58 – Why does my strategy work?
04:30 – You don’t need to understand all candle patterns
05:50 – Our 10th birthday at The Forex Trading Coach
I want to explain why I believe my trading strategy works so well. So let's say I talk about that and more right now.
Hey, traders, Andrew Mitchem here from The Forex Trading Coach with video and podcast number 314.
And I often get asked questions, people say to me, "Hey, Andrew, why is it that your system works, or why do you believe it works? How does it help so many people?" And there's a number of reasons, but I just wanted to share with you probably issues that you may be having as a trader. You see when people start trading, they think they need to clutter their charts with indicators all over the place. They need to either think that they need to be an expert in fundamentals. They think they need to trade all of the time.
Now, most people when they start off, because trading's exciting and you want to take lots of trades, otherwise why be a trader, they think they need to take trades all the time. So most people put a whole jumble of indicators, and lines, and arrows, and squiggly bits all over their charts, they use supposed great combination of indicators and everybody thinks they're going to get the perfect combination of indicators. They're going to add this one, and add this one, and overlay that one, and only take when this one gets to 50%, and overboard, and all these type of things, and they want to do this on one minute and five minute charts at least to complete confusion.
Now, I actually knew a guy, who actually lived not far from me here in Hamilton. A number of years I went to see him, and he actually traded really well and made a lot of money, this guy made a lot of money off five minute charts. Trouble was, he got completely burnt out and he doesn't trade today. And I went to his office, and he had this beautiful house, lovely house, but it was all darkened rooms, he had screens everywhere, completely it was his own office, no kids allowed in it, no wife allowed in it, and it was just purely trading, that's all he did. But the trouble is, he spent all day trading, he spent all evening trading, he spent all night trading, and yes he made a lot of money at the time, but he completely burnt out, it wasn't real.
And I think that a big part of trading and why my system works, and it works for myself and so many other people, is because it's real, it's practical. Now I started trading 15 years ago, I started coaching 10 years ago in April, so we're almost up to our 10th birthday. Now I've been teaching the same way, and I've been actually trading the same way now for 12 years. Nothings changed with the way I've traded. So after two years of working really well The Forex Trading Coach started, but it took me three years up to that to get to that stage. But 12 years with the same strategy, nothings changed, and it's been through all different market conditions, et cetera.
So why does it work? Well, first of all, it works on all pairs and all timeframes, and it allows you to have a lifestyle, and I think that's really important. That's why we're still going all these years later, because it is real, but it doesn't require you to sit at the computer all day. So the reasons why it works will be this.
We're only looking to potentially taking new trade on the close of a candle. So because I'm a price action based trader, I'm not looking at candle flags, and triangles, and ellet wave and all those things which sometimes look really, really good when you see them in hindsight,]]>https://theforextradingcoach.com/?p=10388Sun, 24 Mar 2019 21:50:33 +0000Andrew Mitchem Podcast: Why Our Trading Strategy Works In this weekly video: 00:25 – Why does your system work? 00:43 – Issues so many traders have 01:35 – A trader who traded 5 minute charts 02:20 – My strategy is realistic to trade 02:58 – Why does my...Podcast:

Why Our Trading Strategy Works
In this weekly video:
00:25 – Why does your system work?
00:43 – Issues so many traders have
01:35 – A trader who traded 5 minute charts
02:20 – My strategy is realistic to trade
02:58 – Why does my strategy work?
04:30 – You don’t need to understand all candle patterns
05:50 – Our 10th birthday at The Forex Trading Coach
I want to explain why I believe my trading strategy works so well. So let's say I talk about that and more right now.
Hey, traders, Andrew Mitchem here from The Forex Trading Coach with video and podcast number 314.
And I often get asked questions, people say to me, "Hey, Andrew, why is it that your system works, or why do you believe it works? How does it help so many people?" And there's a number of reasons, but I just wanted to share with you probably issues that you may be having as a trader. You see when people start trading, they think they need to clutter their charts with indicators all over the place. They need to either think that they need to be an expert in fundamentals. They think they need to trade all of the time.
Now, most people when they start off, because trading's exciting and you want to take lots of trades, otherwise why be a trader, they think they need to take trades all the time. So most people put a whole jumble of indicators, and lines, and arrows, and squiggly bits all over their charts, they use supposed great combination of indicators and everybody thinks they're going to get the perfect combination of indicators. They're going to add this one, and add this one, and overlay that one, and only take when this one gets to 50%, and overboard, and all these type of things, and they want to do this on one minute and five minute charts at least to complete confusion.
Now, I actually knew a guy, who actually lived not far from me here in Hamilton. A number of years I went to see him, and he actually traded really well and made a lot of money, this guy made a lot of money off five minute charts. Trouble was, he got completely burnt out and he doesn't trade today. And I went to his office, and he had this beautiful house, lovely house, but it was all darkened rooms, he had screens everywhere, completely it was his own office, no kids allowed in it, no wife allowed in it, and it was just purely trading, that's all he did. But the trouble is, he spent all day trading, he spent all evening trading, he spent all night trading, and yes he made a lot of money at the time, but he completely burnt out, it wasn't real.
And I think that a big part of trading and why my system works, and it works for myself and so many other people, is because it's real, it's practical. Now I started trading 15 years ago, I started coaching 10 years ago in April, so we're almost up to our 10th birthday. Now I've been teaching the same way, and I've been actually trading the same way now for 12 years. Nothings changed with the way I've traded. So after two years of working really well The Forex Trading Coach started, but it took me three years up to that to get to that stage. But 12 years with the same strategy, nothings changed, and it's been through all different market conditions, et cetera.
So why does it work? Well, first of all, it works on all pairs and all timeframes, and it allows you to have a lifestyle, and I think that's really important. That's why we're still going all these years later, because it is real, but it doesn't require you to sit at the computer all day. So the reasons why it works will be this.
We're only looking to potentially taking new trade on the close of a candle. So because I'm a price action based trader, I'm not looking at candle flags, and triangles, and ellet wave and all those things which sometimes look really, really good when you see them in hindsight,]]>431falsefullhttps://www.spreaker.com/episode/313-making-sense-of-the-mass-of-forex-news--17349819Podcast:

How to Trade my Strength & Weakness Analysis
In this weekly video:
00:26 – Trader from Russia says the news is confusing
00:55 – A Fundamental trader or a Technical Trader
01:35 – Real time examples
02:18 – The news impact is likely to be very low
03:28 – Simplify your trading and don’t worry about the news events
How can you trade Forex realistically when there's so much happening in the news around the world on a day-by-day basis? Let's talk about that and more right now.
Hey, traders. Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 313.
Trader from Russia says the news is confusing
I want to explain about an email that I've had sent to me from a trader in Russia, and he said to me. He said, "Andrew, I can't trade Forex because it's too much to consider. It involves two countries with their politics affecting currencies and so many things going on in those currencies that it is impossible to keep up with everything. Can you help me?" The short answer is, "Absolutely. Yes."
A Fundamental trader or a Technical Trader
When you think about it, as traders, you've got two different options. You can either go to be a fundamental trader or technical trader, so as a fundamental trader, you're really concerned with news events, and what the event is, and what the impact is on the currency. Things like that, and you see a lot of images online of people watching TV screens, and news channels, and all those type of things.
My simple advice to you is to ignore that and ignore most of that inclination because quite honestly, you don't need it. My suggestion is that you look at Forex Factory at beginning of the week and maybe on each day, and just have a look at the high impact news announcements.
Real time examples
To give you an example of how little there is actually happening there in the market, today, Friday, the 15th of March, 2019, if you have a look on Forex Factory, there are only three high-impact news announcements for today scheduled for Friday. All three of them affect the Japanese Yen.
Now, the likelihood of them actually making any significant movement in the Japanese Yen is quite … probably quite small. The likelihood of it happening is quite small, and even if it does affect the Yen, how is that really going to affect you if you're trading other currencies or even if you're trading the Yen? It's likely not to affect you because if you're a technical trader like I am and as I teach, it's all factored into the charts anyway.
The news impact is likely to be very low
But let's say you are trading pick a currency, the Canadian against the Swiss Franc, let's say, or even the Euro, US.
The impact of that Japanese Yen, those three high-impact news announcements for today, it's not going to affect you so it really doesn't matter. Yes, it's nice to know what's happening in Japan or what's happening in different countries, but when you think about it, as a trader, even if you focused on that and just understood what was happening, is the news good or bad, just to get a gauge on what's happening, you've only got eight main currencies anyway. It's not like you're sort of looking at them, stocks and shares, and worrying about different companies and what is happening with different boards, and chairmans, and dividens, and all those type of things. It's happening all the time with thousands and thousands of companies.
We're just talking eight currencies, so really, it's very, very easy to do in fact, and you haven't got to worry about those big events, and as I mentioned, when it comes to the way that we trade, the news announcements don't affect us anyway. It's all taken into account, and the charts tell you everything that you need to know.]]>https://theforextradingcoach.com/?p=10371Sun, 17 Mar 2019 11:55:10 +0000Andrew Mitchem: Podcast: How to Trade my Strength & Weakness Analysis In this weekly video: 00:26 – Trader from Russia says the news is confusing 00:55 – A Fundamental trader or a Technical Trader 01:35 – Real time examples 02:18 – The news impact is likely...Podcast:

How to Trade my Strength & Weakness Analysis
In this weekly video:
00:26 – Trader from Russia says the news is confusing
00:55 – A Fundamental trader or a Technical Trader
01:35 – Real time examples
02:18 – The news impact is likely to be very low
03:28 – Simplify your trading and don’t worry about the news events
How can you trade Forex realistically when there's so much happening in the news around the world on a day-by-day basis? Let's talk about that and more right now.
Hey, traders. Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 313.
Trader from Russia says the news is confusing
I want to explain about an email that I've had sent to me from a trader in Russia, and he said to me. He said, "Andrew, I can't trade Forex because it's too much to consider. It involves two countries with their politics affecting currencies and so many things going on in those currencies that it is impossible to keep up with everything. Can you help me?" The short answer is, "Absolutely. Yes."
A Fundamental trader or a Technical Trader
When you think about it, as traders, you've got two different options. You can either go to be a fundamental trader or technical trader, so as a fundamental trader, you're really concerned with news events, and what the event is, and what the impact is on the currency. Things like that, and you see a lot of images online of people watching TV screens, and news channels, and all those type of things.
My simple advice to you is to ignore that and ignore most of that inclination because quite honestly, you don't need it. My suggestion is that you look at Forex Factory at beginning of the week and maybe on each day, and just have a look at the high impact news announcements.
Real time examples
To give you an example of how little there is actually happening there in the market, today, Friday, the 15th of March, 2019, if you have a look on Forex Factory, there are only three high-impact news announcements for today scheduled for Friday. All three of them affect the Japanese Yen.
Now, the likelihood of them actually making any significant movement in the Japanese Yen is quite … probably quite small. The likelihood of it happening is quite small, and even if it does affect the Yen, how is that really going to affect you if you're trading other currencies or even if you're trading the Yen? It's likely not to affect you because if you're a technical trader like I am and as I teach, it's all factored into the charts anyway.
The news impact is likely to be very low
But let's say you are trading pick a currency, the Canadian against the Swiss Franc, let's say, or even the Euro, US.
The impact of that Japanese Yen, those three high-impact news announcements for today, it's not going to affect you so it really doesn't matter. Yes, it's nice to know what's happening in Japan or what's happening in different countries, but when you think about it, as a trader, even if you focused on that and just understood what was happening, is the news good or bad, just to get a gauge on what's happening, you've only got eight main currencies anyway. It's not like you're sort of looking at them, stocks and shares, and worrying about different companies and what is happening with different boards, and chairmans, and dividens, and all those type of things. It's happening all the time with thousands and thousands of companies.
We're just talking eight currencies, so really, it's very, very easy to do in fact, and you haven't got to worry about those big events, and as I mentioned, when it comes to the way that we trade, the news announcements don't affect us anyway. It's all taken into account, and the charts tell you everything that you need to know.]]>257falsefullhttps://www.spreaker.com/episode/312-how-to-trade-my-strength-weakness-analysis--17279757Podcast:

How to Trade my Strength & Weakness Analysis
In this weekly video:
00:29 – Daily Strength & Weakness Analysis
00:55 – Trades posted free by 6pm EST New York Time
01:29 – The likely direction for the upcoming day
02:20 – How to best trade the analysis
02:55 – Why trade with the trend?
04:40 – If you don’t have your own working FX strategy
05:30 – What happens if the price goes the other way?
06:33 – We’re not perfect!
I'm going to explain how you can best take advantage of the free posts that I put on my website each day, where I explain the likely daily directions and strength and weakness analysis. So let's get into that and more right now.
Hey Traders, Andrew Mitchem here from the Forex Trading Coach video and podcast number 312.
Daily Strength & Weakness Analysis
Want to talk about the strength and weakness analysis, that post on my website each day. If you got into the trade section or the Forex Trading Coach and on the right hand side each day you will see that I update it at about six o'clock eastern standard time, that's New York time each day. The likely directions, the strength and weakness analysis of various currency pairs for the upcoming day for the next 24 hours.
Trades posted free by 6pm EST New York Time
Now the trading day is for 5:00 PM New York time to 5:30 PM New York time. And at that time I'm posting trades like specific trades from my class and then by 6:00 PM we had the free analysis, which you can get if you're not a client every single day.
Now the free analysis, of course it's free but because it's free, it is a very basic form of what my clients get like you don't get the specific trades, you don't get the specific reasons for trades, you don't get the intranets for trades and don't get the bigger picture weekly and monthly trades either.
The likely direction for the upcoming day
But what you do get is the likely direction for the upcoming day and the currency strength and weakness of where I see potential bullish currency pairs and where I see potential bearish currency pairs. So as mentioned only clients get the next level, but there's lots and lots of analysis and useful information there for you to take advantage of if you're not a client. Around it's probably six or seven years ago, Forex Peace Army, the well known and respected review company, picked up on my free analysis and asked if I could post on their site each day, which I have done ever since.
And then leading on from that, a whole range of forex companies throughout the whole world, all over the Internet pick up on that daily analysis because they see it as valuable information for their readers. That sort of now available for you every single day to log in and take advantage of.
How to best trade the analysis
Now I had an email from a trader called Henry who said to me, "Hey Andrew, can you just talk about it, make a video about it, and explain how we can best make use of that analysis that you post there each day." How many trade should we take, when should we enter? All those kinds of things. So the important thing to understand that these are not specific trades, they are likely trends, they're likely directions. And what you should be doing is you should be using your own analysis to take trades that are in that same direction as those likely trends that I'm seeing.
Why trade with the trend?
And why would you do that? Well, you think about this logically. If I'm seeing lots of strength in the Australian dollar, let's say as an example, and I'm seeing lots of weakness in the US dollar and against the Yen again, as an example, I'm likely to be saying for this day, I'm looking at bullish trades buy trades on the Australia in US dollar and the Australian Yen.]]>https://theforextradingcoach.com/?p=10289Sun, 10 Mar 2019 14:51:00 +0000Andrew Mitchem: Podcast: How to Trade my Strength & Weakness Analysis In this weekly video: 00:29 – Daily Strength & Weakness Analysis 00:55 – Trades posted free by 6pm EST New York Time 01:29 – The likely direction for the upcoming day 02:20 – How to best...Podcast:

How to Trade my Strength & Weakness Analysis
In this weekly video:
00:29 – Daily Strength & Weakness Analysis
00:55 – Trades posted free by 6pm EST New York Time
01:29 – The likely direction for the upcoming day
02:20 – How to best trade the analysis
02:55 – Why trade with the trend?
04:40 – If you don’t have your own working FX strategy
05:30 – What happens if the price goes the other way?
06:33 – We’re not perfect!
I'm going to explain how you can best take advantage of the free posts that I put on my website each day, where I explain the likely daily directions and strength and weakness analysis. So let's get into that and more right now.
Hey Traders, Andrew Mitchem here from the Forex Trading Coach video and podcast number 312.
Daily Strength & Weakness Analysis
Want to talk about the strength and weakness analysis, that post on my website each day. If you got into the trade section or the Forex Trading Coach and on the right hand side each day you will see that I update it at about six o'clock eastern standard time, that's New York time each day. The likely directions, the strength and weakness analysis of various currency pairs for the upcoming day for the next 24 hours.
Trades posted free by 6pm EST New York Time
Now the trading day is for 5:00 PM New York time to 5:30 PM New York time. And at that time I'm posting trades like specific trades from my class and then by 6:00 PM we had the free analysis, which you can get if you're not a client every single day.
Now the free analysis, of course it's free but because it's free, it is a very basic form of what my clients get like you don't get the specific trades, you don't get the specific reasons for trades, you don't get the intranets for trades and don't get the bigger picture weekly and monthly trades either.
The likely direction for the upcoming day
But what you do get is the likely direction for the upcoming day and the currency strength and weakness of where I see potential bullish currency pairs and where I see potential bearish currency pairs. So as mentioned only clients get the next level, but there's lots and lots of analysis and useful information there for you to take advantage of if you're not a client. Around it's probably six or seven years ago, Forex Peace Army, the well known and respected review company, picked up on my free analysis and asked if I could post on their site each day, which I have done ever since.
And then leading on from that, a whole range of forex companies throughout the whole world, all over the Internet pick up on that daily analysis because they see it as valuable information for their readers. That sort of now available for you every single day to log in and take advantage of.
How to best trade the analysis
Now I had an email from a trader called Henry who said to me, "Hey Andrew, can you just talk about it, make a video about it, and explain how we can best make use of that analysis that you post there each day." How many trade should we take, when should we enter? All those kinds of things. So the important thing to understand that these are not specific trades, they are likely trends, they're likely directions. And what you should be doing is you should be using your own analysis to take trades that are in that same direction as those likely trends that I'm seeing.
Why trade with the trend?
And why would you do that? Well, you think about this logically. If I'm seeing lots of strength in the Australian dollar, let's say as an example, and I'm seeing lots of weakness in the US dollar and against the Yen again, as an example, I'm likely to be saying for this day, I'm looking at bullish trades buy trades on the Australia in US dollar and the Australian Yen.]]>462falsefullhttps://www.spreaker.com/episode/311-trade-what-you-see-and-not-what-you-think-might-happen--17209849Podcast:

Trade what you see and not what you think might happen
In this weekly video:
00:28 – Read the charts
00:45 – The Brexit example
01:50 – The Pound should be falling, or not?
02:42 – The importance of trading what the charts show you
03:48 – Trading with the KISS approach
I want to talk about why you as a trader should trade what you see on your charts and not what you think might happen. There's a big difference between the two, so let's get into it.
Hey traders, Andrew Mitchem here from The Forex Trading Coach with video on podcast number 311.
Read the charts
And I want to talk about something that's very topical right now, especially when you think about the British pound. And I want to talk about the importance of why, to be a good trader and a successful trader, you should really trade what you see on your charts and not what you think should or might happen to a currency path.
The Brexit example
I'll give you a great example. So here we are today, 1st of March, 2019. Now I live in New Zealand, but on the other side of the world far away from me we're having that Brexit issue still dragging on. It just seems like it's been going on for months and months and months. And all I read on the news is Theresa May might be doing this, Corbyn might be doing that. Are they going to leave? Yes or no? Brexit, is it going to carry on with the vote that everybody wanted to leave, or the majority wanted to leave? Are they going to change things? What's happening with Ireland? Europe's getting involved. And to me, as an observer, it just seems like a complete and utter mess, and nobody seems to know what's happening. You kind of get that with I suppose a lot of politics around the world. But it seems a particularly big mess, and dragging on and on and on.
So you think about that logically. What could or should that be doing to the British pound? Well, to me I'm thinking, well uncertainty. Nobody knows what's happening. Are they going to leave? Are they going to make big exit fees to leave Europe?
The Pound should be falling, or not?
The pound should be absolutely crashing. All these big businesses, and industries, and banks, they're all saying, "We're going to leave Britain if they leave Europe," or the Eurozone. And everybody should really be thinking the pound has to fall. It has to fall. It has to crash. Yet you go and look at your charts for this year, for the first two completed months of this year, and all we've seen is the pound against the US dollar has rise about 950 pips. Against the Australian dollar it's risen about 1100 pips. Against the Yen, it's risen about 1500 pips. And it's almost a straight line. It's just gone straight up when everything that you think should say it should be going straight down. It should be doing the opposite.
The importance of trading what the charts show you
So we talked about this on my webinar last night with my class. And it's all about the importance of trading what you see on the charts, because if you think about this fundamentally or almost logically, you'd be just taking sell positions, or thinking you should be looking for sell positions all the time on the pound. Yet this year, so many weeks of this year so far, I've said to my class, "On a weekly bars, I'm looking for buy/trades on the pound/US, or pound/Yen, pound/Aussie, pound/Kiwi," because that's what we're seeing. And then you take that down to a slightly smaller timeframe and you look at each day, and many, many times we've been saying buy/trades on the British pound pairs because that's what we're seeing.
And that's the important thing here. Look at what the charts are doing. It doesn't matter what you think, or what someone else thinks, or what CNN thinks, or what some fundamental trader thinks. It does not matter.]]>https://theforextradingcoach.com/?p=10179Sun, 03 Mar 2019 15:06:03 +0000Andrew Mitchem: Podcast: Trade what you see and not what you think might happen In this weekly video: 00:28 – Read the charts 00:45 – The Brexit example 01:50 – The Pound should be falling, or not? 02:42 – The importance of trading what the charts show you...Podcast:

Trade what you see and not what you think might happen
In this weekly video:
00:28 – Read the charts
00:45 – The Brexit example
01:50 – The Pound should be falling, or not?
02:42 – The importance of trading what the charts show you
03:48 – Trading with the KISS approach
I want to talk about why you as a trader should trade what you see on your charts and not what you think might happen. There's a big difference between the two, so let's get into it.
Hey traders, Andrew Mitchem here from The Forex Trading Coach with video on podcast number 311.
Read the charts
And I want to talk about something that's very topical right now, especially when you think about the British pound. And I want to talk about the importance of why, to be a good trader and a successful trader, you should really trade what you see on your charts and not what you think should or might happen to a currency path.
The Brexit example
I'll give you a great example. So here we are today, 1st of March, 2019. Now I live in New Zealand, but on the other side of the world far away from me we're having that Brexit issue still dragging on. It just seems like it's been going on for months and months and months. And all I read on the news is Theresa May might be doing this, Corbyn might be doing that. Are they going to leave? Yes or no? Brexit, is it going to carry on with the vote that everybody wanted to leave, or the majority wanted to leave? Are they going to change things? What's happening with Ireland? Europe's getting involved. And to me, as an observer, it just seems like a complete and utter mess, and nobody seems to know what's happening. You kind of get that with I suppose a lot of politics around the world. But it seems a particularly big mess, and dragging on and on and on.
So you think about that logically. What could or should that be doing to the British pound? Well, to me I'm thinking, well uncertainty. Nobody knows what's happening. Are they going to leave? Are they going to make big exit fees to leave Europe?
The Pound should be falling, or not?
The pound should be absolutely crashing. All these big businesses, and industries, and banks, they're all saying, "We're going to leave Britain if they leave Europe," or the Eurozone. And everybody should really be thinking the pound has to fall. It has to fall. It has to crash. Yet you go and look at your charts for this year, for the first two completed months of this year, and all we've seen is the pound against the US dollar has rise about 950 pips. Against the Australian dollar it's risen about 1100 pips. Against the Yen, it's risen about 1500 pips. And it's almost a straight line. It's just gone straight up when everything that you think should say it should be going straight down. It should be doing the opposite.
The importance of trading what the charts show you
So we talked about this on my webinar last night with my class. And it's all about the importance of trading what you see on the charts, because if you think about this fundamentally or almost logically, you'd be just taking sell positions, or thinking you should be looking for sell positions all the time on the pound. Yet this year, so many weeks of this year so far, I've said to my class, "On a weekly bars, I'm looking for buy/trades on the pound/US, or pound/Yen, pound/Aussie, pound/Kiwi," because that's what we're seeing. And then you take that down to a slightly smaller timeframe and you look at each day, and many, many times we've been saying buy/trades on the British pound pairs because that's what we're seeing.
And that's the important thing here. Look at what the charts are doing. It doesn't matter what you think, or what someone else thinks, or what CNN thinks, or what some fundamental trader thinks. It does not matter.]]>253falsefullhttps://www.spreaker.com/episode/310-the-best-way-to-become-a-successful-forex-trader--17135361Podcast:

The Best Way to Become a Successful Forex Trader
In this weekly video:
00:22 – How you can become a successful Forex trader
01:10 – We teach how to trade in real time
02:17 – We show you how to trade from the right hand side of the chart
02:27 – #1 – Daily Chart Trades
03:26 – #2 – Live Weekly 2 hour long webinars
04:07 – #3 – Client’s Forum Site
05:17 – If you’d like our help with any trading issues
What's the best way for you to learn how to become a successful forex trader? Let's talk about that and more right now.
Hi, forex traders, Andrew Mitchem here from The Forex Trading Coach with video and podcast number 310.
How you can become a successful Forex trader
Now we're gonna talk about how you can become a successful forex trader and what is the best way for you to learn how to do that. They say everybody's different, everybody learns in different ways. Of course, some people are visual, some like to do things themselves, some like to read. Many, many different ways. But I firmly believe that what sets us apart as a forex education company is that first of all, we're real traders. I'm making this video and podcast. I'm not home in my office with my screens behind me here. I'm a real trader doing this day in, day out. And have done so for 15 years. So that's a really important point. We're not set in some office in London, or New York, or Sydney, or somewhere with call centres. We're not that at all. That's far from what we are. We're real traders. So that's the first thing.
We teach how to trade in real time
The second thing is is that because we're real traders, we teach people how to trade the way that we trade in real time. And I think that for you as someone who's learning how to trade a strategy is absolutely critical. And that's what sets us apart. You see, we've got three different ways of teaching our clients how to trade our strategy in real time. You can go online, and you can see videos, and you can see screenshots of the perfect trade, and someone's highlighted this trade, and it's working just beautifully. You notice how it does that. It always works beautifully. But the problem is that you as a trader, you get to understand the strategy, and you get to learn it, et cetera. You pay for it. And you cannot make it work in real time. That becomes the problem. And the issue there is that hindsight, everybody's multi, multi millionaires. Simple. And the problem is that you have to learn to trade in real time from the right hand side of the charts without any of that hindsight. Without any of those losing trades. You've gotta trade the perfect trade every time. But how do you find it?
We show you how to trade from the right hand side of the chart
And so that's what makes us different because we teach that trading from the right hand side of the chart because that's what we do ourselves. Three different ways that we help our clients with this.
#1 – Daily Chart Trades
The first one is that we place data chart trades on our membership site for clients to follow along. We analyse the data charts each day. And between 5:15 and 5:30 PM Eastern Standard Time, so that's about 15 to 30 minutes after the day the candle opens the new day, we place specific trades based on the daily charts for our clients to follow. So it's all in real time. The market hasn't even started to move yet at that time of the day. We're saying these are the trades that we're looking at, giving all the reasons for the trade set up, plus we are giving the exact entry and exit levels for people to follow along, learn from, and also to earn from. But the most important part of that is the learning because it's learning to train your eye in real time from that right hand side of the chart without any of the benefit of what might happen next or hindsight.]]>https://theforextradingcoach.com/?p=10166Sun, 24 Feb 2019 21:05:55 +0000Andrew Mitchem: Podcast: The Best Way to Become a Successful Forex Trader In this weekly video: 00:22 – How you can become a successful Forex trader 01:10 – We teach how to trade in real time 02:17 – We show you how to trade from the right hand side of the...Podcast:

The Best Way to Become a Successful Forex Trader
In this weekly video:
00:22 – How you can become a successful Forex trader
01:10 – We teach how to trade in real time
02:17 – We show you how to trade from the right hand side of the chart
02:27 – #1 – Daily Chart Trades
03:26 – #2 – Live Weekly 2 hour long webinars
04:07 – #3 – Client’s Forum Site
05:17 – If you’d like our help with any trading issues
What's the best way for you to learn how to become a successful forex trader? Let's talk about that and more right now.
Hi, forex traders, Andrew Mitchem here from The Forex Trading Coach with video and podcast number 310.
How you can become a successful Forex trader
Now we're gonna talk about how you can become a successful forex trader and what is the best way for you to learn how to do that. They say everybody's different, everybody learns in different ways. Of course, some people are visual, some like to do things themselves, some like to read. Many, many different ways. But I firmly believe that what sets us apart as a forex education company is that first of all, we're real traders. I'm making this video and podcast. I'm not home in my office with my screens behind me here. I'm a real trader doing this day in, day out. And have done so for 15 years. So that's a really important point. We're not set in some office in London, or New York, or Sydney, or somewhere with call centres. We're not that at all. That's far from what we are. We're real traders. So that's the first thing.
We teach how to trade in real time
The second thing is is that because we're real traders, we teach people how to trade the way that we trade in real time. And I think that for you as someone who's learning how to trade a strategy is absolutely critical. And that's what sets us apart. You see, we've got three different ways of teaching our clients how to trade our strategy in real time. You can go online, and you can see videos, and you can see screenshots of the perfect trade, and someone's highlighted this trade, and it's working just beautifully. You notice how it does that. It always works beautifully. But the problem is that you as a trader, you get to understand the strategy, and you get to learn it, et cetera. You pay for it. And you cannot make it work in real time. That becomes the problem. And the issue there is that hindsight, everybody's multi, multi millionaires. Simple. And the problem is that you have to learn to trade in real time from the right hand side of the charts without any of that hindsight. Without any of those losing trades. You've gotta trade the perfect trade every time. But how do you find it?
We show you how to trade from the right hand side of the chart
And so that's what makes us different because we teach that trading from the right hand side of the chart because that's what we do ourselves. Three different ways that we help our clients with this.
#1 – Daily Chart Trades
The first one is that we place data chart trades on our membership site for clients to follow along. We analyse the data charts each day. And between 5:15 and 5:30 PM Eastern Standard Time, so that's about 15 to 30 minutes after the day the candle opens the new day, we place specific trades based on the daily charts for our clients to follow. So it's all in real time. The market hasn't even started to move yet at that time of the day. We're saying these are the trades that we're looking at, giving all the reasons for the trade set up, plus we are giving the exact entry and exit levels for people to follow along, learn from, and also to earn from. But the most important part of that is the learning because it's learning to train your eye in real time from that right hand side of the chart without any of the benefit of what might happen next or hindsight.]]>330falsefullhttps://www.spreaker.com/episode/309-what-makes-an-a-quality-trade-setup--17067532Podcast:

What Makes an A+ Quality Trade Setup
In this weekly video:
00:24 – This is so important to your trading success
00:49 – Live trading webinar
01:25 – Trading is not just about the next one trade
02:16 – Training your eye to see that good quality setup
03:03 – A good strategy will win through over time
04:00 – Client makes +3% on the live webinar
What makes an A+ quality trade set up on your charts? It's really important. Let's discuss this and more right now.
Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 309.
This is so important to your trading success
Now I wanted to talk about something that's really, really important to your trading success. It will help you in so many ways. And it's all about identifying what we call an A+ quality trade set up on your charts. Why is that important? Well it will help you become more successful. It would almost guarantee your success if you stick to these rules.
Live trading webinar
So last night with my clients, we held our live weekly two hour trading room webinar. And we talked about the importance of this, about looking for A+ trade setups. But what is an A+ trade set up? So each person, depending on your strategy, it will be different. But at the Forex Trading Coach, we have a defined, clear set of rules that we're looking for to enter a trade. Now it's really important to understand, to help you with your emotions and help with psychology that you go through this process and you stick to it.
Trading is not just about the next one trade
Because a lot of people will take one profitable trade and all of a sudden they're over the moon and trading is fantastic and then they do something stupid next time.
Or they'll have a loss or two or three losses in a row and all of a sudden trading's terrible, I hate it, I'm losing money. It's my broker's fault, and whatever it is. You get the picture.
So what I suggest to clients do is I'm suggesting that they have the set of rules that we look for and every time they take a trade, does this individual trade set up meet this set of rules that we're looking for? Yes or no. And not all the time is every single one of those going to be perfect, but do the vast majority of these setups or this setup, does it have the vast majority of these technical trade set up things that we're looking for? And if it does, fantastic, take the trade.
Training your eye to see that good quality setup
Because what it means is you get to train your eye to look for that setup. It doesn't matter what the timeframe chart is, what the currency pair is, whether it's the New Zealand dollar because I live here, or whether it's the US dollar because you live in America. It does not matter. Trade the set up because what that will give you is the ability to train your eye to see the setup no matter what the pair, no matter what the timeframe.
What it also does is it takes away those highs and lows of that emotion, because if the trade matches your criteria that you're looking for and you take the trade and it gets to your profit target, fantastic. If it doesn't, if it gets stopped, that is something changes, it doesn't matter because you traded the trade setup itself.
A good strategy will win through over time
And you know if you have a good system, a good strategy like we do that has a high reward for risk, but we know without doubt that if you traded 100 setups of what we call A+ quality setups, over those hundred trades, you will without a doubt be profitable. So that's why it's really important to do that.
Now a client of mine created a journal and every trade he takes he analyses, is it good enough to meet our criteria? Yes or no, if it does he takes the trade, takes a screenshot.]]>https://theforextradingcoach.com/?p=10119Sun, 17 Feb 2019 15:07:28 +0000Andrew Mitchem: Podcast: What Makes an A+ Quality Trade Setup In this weekly video: 00:24 – This is so important to your trading success 00:49 – Live trading webinar 01:25 – Trading is not just about the next one trade 02:16 – Training your eye to see that good...Podcast:

What Makes an A+ Quality Trade Setup
In this weekly video:
00:24 – This is so important to your trading success
00:49 – Live trading webinar
01:25 – Trading is not just about the next one trade
02:16 – Training your eye to see that good quality setup
03:03 – A good strategy will win through over time
04:00 – Client makes +3% on the live webinar
What makes an A+ quality trade set up on your charts? It's really important. Let's discuss this and more right now.
Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 309.
This is so important to your trading success
Now I wanted to talk about something that's really, really important to your trading success. It will help you in so many ways. And it's all about identifying what we call an A+ quality trade set up on your charts. Why is that important? Well it will help you become more successful. It would almost guarantee your success if you stick to these rules.
Live trading webinar
So last night with my clients, we held our live weekly two hour trading room webinar. And we talked about the importance of this, about looking for A+ trade setups. But what is an A+ trade set up? So each person, depending on your strategy, it will be different. But at the Forex Trading Coach, we have a defined, clear set of rules that we're looking for to enter a trade. Now it's really important to understand, to help you with your emotions and help with psychology that you go through this process and you stick to it.
Trading is not just about the next one trade
Because a lot of people will take one profitable trade and all of a sudden they're over the moon and trading is fantastic and then they do something stupid next time.
Or they'll have a loss or two or three losses in a row and all of a sudden trading's terrible, I hate it, I'm losing money. It's my broker's fault, and whatever it is. You get the picture.
So what I suggest to clients do is I'm suggesting that they have the set of rules that we look for and every time they take a trade, does this individual trade set up meet this set of rules that we're looking for? Yes or no. And not all the time is every single one of those going to be perfect, but do the vast majority of these setups or this setup, does it have the vast majority of these technical trade set up things that we're looking for? And if it does, fantastic, take the trade.
Training your eye to see that good quality setup
Because what it means is you get to train your eye to look for that setup. It doesn't matter what the timeframe chart is, what the currency pair is, whether it's the New Zealand dollar because I live here, or whether it's the US dollar because you live in America. It does not matter. Trade the set up because what that will give you is the ability to train your eye to see the setup no matter what the pair, no matter what the timeframe.
What it also does is it takes away those highs and lows of that emotion, because if the trade matches your criteria that you're looking for and you take the trade and it gets to your profit target, fantastic. If it doesn't, if it gets stopped, that is something changes, it doesn't matter because you traded the trade setup itself.
A good strategy will win through over time
And you know if you have a good system, a good strategy like we do that has a high reward for risk, but we know without doubt that if you traded 100 setups of what we call A+ quality setups, over those hundred trades, you will without a doubt be profitable. So that's why it's really important to do that.
Now a client of mine created a journal and every trade he takes he analyses, is it good enough to meet our criteria? Yes or no, if it does he takes the trade, takes a screenshot.]]>345falsefullhttps://www.spreaker.com/episode/308-the-importance-of-good-quality-education--17002362Podcast:

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 ...]]>https://theforextradingcoach.com/?p=10108Sun, 10 Feb 2019 14:07:30 +0000Andrew Mitchem Podcast: 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...Podcast:

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 ...]]>472falsefullhttps://www.spreaker.com/episode/307-what-proportion-of-your-money-should-you-trade--16941107
What proportion of your money should you trade?
In this weekly video:
00:29 – How much of your savings should you trade?
01:02 – The 2 different options for you
01:45 – Trading example
02:02 – This is a discussion – NOT financial advice
03:00 – Which is the best choice for you?
04:14 – Don’t keep all of your funds with one broker
05:18 – Email me with any questions
Should you put all of your money and your savings into your Forex account trade that, yes or no? Let's talk about that and more right now.
Hey, traders, Andrew Mitchem here, the Forex trading coach with video and podcast number 307.
Now I've got a really interesting topic to discuss today.
How much of your savings should you trade?
Now it came back from an email here from a client of mine and we talked about this in quite some depth on my latest live Webinar with my clients that I hold each week and it was all about what should we do with our funds. And basically this guy said, "Should I put my savings and take money out of my bank account and put it into my trading account based on the fact that, we trade a strategy that works and based on the fact that we trade low risk per trade?" What should I do? And he said, "Well, basically, really is there any advantage one way or the other what I do?"
The 2 different options for you
So the two scenarios would be one, I take out a funds and additional savings, put it into my Forex account, trade it really low risk. And probably make way more than the bank are ever going to pay me in a year, I'm probably going to make that in a month and that would be very fair pull. The other thing we discussed was, why don't you maybe look at putting half of that money that you would allocate to your Forex account into your account and half leave with the bank where sure, short may be earning very, very low interest rate but also, I suppose you could say it's secure or secure as you can get. So there's two different options. And if you took that second option, of course you could say, let's pick some numbers.
Trading example
Let's say I had $100,000 to try up at $50,000 and with my broker, 50,000 in the bank. And I'm assuming when I trade, I'm trading a 100,000, so I'm doubling up on my normal risk. So you've got a couple of options there and you can play around with the numbers as it suits you.
This is a discussion – NOT financial advice
The important things are this, there's two things really. Number one, I've got to say this is not financial advice. I'm not saying you should go and do this. This was purely a discussion that we had on the live Webinar and I just wanted to share it with you because I think it's something that a lot of people don't give you that normal everyday experience. And this is coming from experience. This is not a suggestions or advice, really important that point. The second point is that I'm assuming that if you're thinking, "Hey Andrew, which way do I go?" That you can actually trade
And that's another really important point. The guy that I was talking about, he can trade, he's been in all my course for awhile. He's doing really well, low risk, et cetera. He's not gambling, he's not doing silly things. So there's a couple of assumptions there. I'm assuming that you can trade profitably, consistently and you're taking low risk. So assuming that comes into play, and if you can't do that, then you need to come and see me first of all. But assuming you can then, which way you go?
Which is the best choice for you?
Well the choice of course is really yours, but just a few things to be aware of, here in New Zealand as a company that I've been using over the last year or so. It's called Halifax and Halifax in Australia had something happened back in around October, November,]]>https://theforextradingcoach.com/?p=10101Sun, 03 Feb 2019 22:09:08 +0000Andrew MitchemPodcast: What proportion of your money should you trade? In this weekly video: 00:29 – How much of your savings should you trade? 01:02 – The 2 different options for you 01:45 – Trading example 02:02 – This is a discussion – NOT financial advice...
What proportion of your money should you trade?
In this weekly video:
00:29 – How much of your savings should you trade?
01:02 – The 2 different options for you
01:45 – Trading example
02:02 – This is a discussion – NOT financial advice
03:00 – Which is the best choice for you?
04:14 – Don’t keep all of your funds with one broker
05:18 – Email me with any questions
Should you put all of your money and your savings into your Forex account trade that, yes or no? Let's talk about that and more right now.
Hey, traders, Andrew Mitchem here, the Forex trading coach with video and podcast number 307.
Now I've got a really interesting topic to discuss today.
How much of your savings should you trade?
Now it came back from an email here from a client of mine and we talked about this in quite some depth on my latest live Webinar with my clients that I hold each week and it was all about what should we do with our funds. And basically this guy said, "Should I put my savings and take money out of my bank account and put it into my trading account based on the fact that, we trade a strategy that works and based on the fact that we trade low risk per trade?" What should I do? And he said, "Well, basically, really is there any advantage one way or the other what I do?"
The 2 different options for you
So the two scenarios would be one, I take out a funds and additional savings, put it into my Forex account, trade it really low risk. And probably make way more than the bank are ever going to pay me in a year, I'm probably going to make that in a month and that would be very fair pull. The other thing we discussed was, why don't you maybe look at putting half of that money that you would allocate to your Forex account into your account and half leave with the bank where sure, short may be earning very, very low interest rate but also, I suppose you could say it's secure or secure as you can get. So there's two different options. And if you took that second option, of course you could say, let's pick some numbers.
Trading example
Let's say I had $100,000 to try up at $50,000 and with my broker, 50,000 in the bank. And I'm assuming when I trade, I'm trading a 100,000, so I'm doubling up on my normal risk. So you've got a couple of options there and you can play around with the numbers as it suits you.
This is a discussion – NOT financial advice
The important things are this, there's two things really. Number one, I've got to say this is not financial advice. I'm not saying you should go and do this. This was purely a discussion that we had on the live Webinar and I just wanted to share it with you because I think it's something that a lot of people don't give you that normal everyday experience. And this is coming from experience. This is not a suggestions or advice, really important that point. The second point is that I'm assuming that if you're thinking, "Hey Andrew, which way do I go?" That you can actually trade
And that's another really important point. The guy that I was talking about, he can trade, he's been in all my course for awhile. He's doing really well, low risk, et cetera. He's not gambling, he's not doing silly things. So there's a couple of assumptions there. I'm assuming that you can trade profitably, consistently and you're taking low risk. So assuming that comes into play, and if you can't do that, then you need to come and see me first of all. But assuming you can then, which way you go?
Which is the best choice for you?
Well the choice of course is really yours, but just a few things to be aware of, here in New Zealand as a company that I've been using over the last year or so. It's called Halifax and Halifax in Australia had something happened back in around October, November,]]>335falsefullhttps://www.spreaker.com/episode/should-you-follow-trader-s-sentiment--16857665
Should you follow Trader’s Sentiment?
In this weekly video:
00:24 – Trader’s question from Norway
00:41 – Sentiment is hard to measure in the FX market
01:42 – Do you follow other traders?
02:04 – Why I use price action
02:50 – Trading against the sentiment
03:50 – Continuation patterns
04:39 – Send me your trading questions
Should you follow sentiment from other traders when making your trading decisions? Let's talk about that and more right now.
Hey, traders. It's Andrew Mitchem here from the The Forex Trading Coach with video and podcast number 306.
Trader’s question from Norway
Now I've received an email just this morning from a trader called Simon over in Norway. Simon said, "Hey Andrew, love your podcast, but can you chat about sentiment on a future podcast? Should we be following traders or should we go against them?"
Sentiment is hard to measure in the FX market
Simon, it's a really interesting question, because sentiment is quite difficult to measure in the Forex market. It depends where you get your information from. Are you looking at different websites? Are you looking at something like Reuters possibly? Are you looking at something like Forex Factory or FXStreet? They all show where traders are long or short on different currencies and where people are placing their positions right now. The problem is is they can only show the data that they can measure, so it's not uniform. It's not the same depending on where you get that data source from.
When you think about it, in the Forex market, it's very difficult to measure, a little bit like volume. Go and have a look at the volume indicator on, say, your broker's platform, and then open up a different broker. The volume levels that you see are vastly different, and I supposed it depends on where the broker gets their data from. Is it just from their traders? Is it from their entire price feed? Where does it come from? Sentiment, very, very similar, can be the same issue.
Do you follow other traders?
If you are simply just following other people or you think, "I'm just going to do the opposite," because 95% of traders all lose, then it becomes quite dangerous in some ways. Although I like the idea, Simon, and I like what you're saying, I think there's a better way to do a similar type of thing.
Why I use price action
That's the way that I trade, which is why I use price action. You see, I'm looking at price action to give me an idea of where the big players in the market are moving the market, where they're placing their orders. That's why I also look at round numbers, like numbers, price levels ending in 00 or 50, because they're strong psychological levels. The price is likely to move up close to a 00 and then it's probably going to bounce back down again, or if it's heading back down to that level, it's going to bounce and then pull back again. A lot of orders are placed out, a lot of stop orders, a lot of stop losses, a lot of profit targets, et cetera, round numbers. So combining price action and candle formations with round numbers and support and resistance, et cetera, is the main part of how I trade.
But coming back to the sentiment question, if we were to say trade against the traders, the vast majority, that's kind of like I'm use as a reversal pattern. Just last week, on last week's video and podcast, I said, "Should you trade reversals or only continuations?" Reversals are going against the trend in some ways, but I only take a reversal signal once I have confirmation from the price action that the price is turning down. I'm not seeing the price going up and up and up and just simply taking sell crates just because I want to. I'm waiting for that price to go up and up and I'm looking for it to start to tip over,]]>https://theforextradingcoach.com/?p=10090Sun, 27 Jan 2019 22:07:49 +0000Andrew MitchemPodcast: Should you follow Trader’s Sentiment? In this weekly video: 00:24 – Trader’s question from Norway 00:41 – Sentiment is hard to measure in the FX market 01:42 – Do you follow other traders? 02:04 – Why I use price action 02:50 – Trading...
Should you follow Trader’s Sentiment?
In this weekly video:
00:24 – Trader’s question from Norway
00:41 – Sentiment is hard to measure in the FX market
01:42 – Do you follow other traders?
02:04 – Why I use price action
02:50 – Trading against the sentiment
03:50 – Continuation patterns
04:39 – Send me your trading questions
Should you follow sentiment from other traders when making your trading decisions? Let's talk about that and more right now.
Hey, traders. It's Andrew Mitchem here from the The Forex Trading Coach with video and podcast number 306.
Trader’s question from Norway
Now I've received an email just this morning from a trader called Simon over in Norway. Simon said, "Hey Andrew, love your podcast, but can you chat about sentiment on a future podcast? Should we be following traders or should we go against them?"
Sentiment is hard to measure in the FX market
Simon, it's a really interesting question, because sentiment is quite difficult to measure in the Forex market. It depends where you get your information from. Are you looking at different websites? Are you looking at something like Reuters possibly? Are you looking at something like Forex Factory or FXStreet? They all show where traders are long or short on different currencies and where people are placing their positions right now. The problem is is they can only show the data that they can measure, so it's not uniform. It's not the same depending on where you get that data source from.
When you think about it, in the Forex market, it's very difficult to measure, a little bit like volume. Go and have a look at the volume indicator on, say, your broker's platform, and then open up a different broker. The volume levels that you see are vastly different, and I supposed it depends on where the broker gets their data from. Is it just from their traders? Is it from their entire price feed? Where does it come from? Sentiment, very, very similar, can be the same issue.
Do you follow other traders?
If you are simply just following other people or you think, "I'm just going to do the opposite," because 95% of traders all lose, then it becomes quite dangerous in some ways. Although I like the idea, Simon, and I like what you're saying, I think there's a better way to do a similar type of thing.
Why I use price action
That's the way that I trade, which is why I use price action. You see, I'm looking at price action to give me an idea of where the big players in the market are moving the market, where they're placing their orders. That's why I also look at round numbers, like numbers, price levels ending in 00 or 50, because they're strong psychological levels. The price is likely to move up close to a 00 and then it's probably going to bounce back down again, or if it's heading back down to that level, it's going to bounce and then pull back again. A lot of orders are placed out, a lot of stop orders, a lot of stop losses, a lot of profit targets, et cetera, round numbers. So combining price action and candle formations with round numbers and support and resistance, et cetera, is the main part of how I trade.
But coming back to the sentiment question, if we were to say trade against the traders, the vast majority, that's kind of like I'm use as a reversal pattern. Just last week, on last week's video and podcast, I said, "Should you trade reversals or only continuations?" Reversals are going against the trend in some ways, but I only take a reversal signal once I have confirmation from the price action that the price is turning down. I'm not seeing the price going up and up and up and just simply taking sell crates just because I want to. I'm waiting for that price to go up and up and I'm looking for it to start to tip over,]]>298falsefullhttps://www.spreaker.com/episode/305-trading-reversal-patterns--16763908https://theforextradingcoach.com/?p=10014Sun, 20 Jan 2019 21:53:59 +0000Andrew MitchemThe post #305: Trading Reversal Patterns appeared first on Online Forex Trading Course.308falsefullhttps://www.spreaker.com/episode/304-helping-you-trade-the-right-way-in-2019-and-beyond--16713763
Helping you trade the right way in 2019 and beyond
In this weekly video:
00:21 – Happy New Year
00:41 – A lot of political events
01:14 – Having a strategy and a plan
02:33 – My favourite time frame chart
03:21 – H12, H8 and H6 charts
04:01 – Take the higher probability trade setups
04:38 – Shorter time frame charts
05:33 – Forget about making pips
2019, what does it hold for you as a Forex trader? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 304.
Happy New Year
Happy New Year and happy start to 2019. I want to discuss a few things with you on today's video and podcast that's going to help you as a trader into 2019 because quite likely we are going to see some fairly difficult trading conditions will be my guess at this stage.
A lot of political events
A lot of political events happening right now with Brexit still undecided, political unrest within Europe, issues in South Africa, China of course, and the US and Trump and difference enhancements in how the world and the market reacts to all of that. On top of that, you know there's still Russia and there's lots of things happening politically around the world that can affect us as traders whether we like it or not. Whether we're technical traders or fundamental traders, the political events do have a bearing.
Having a strategy and a plan
What can we do about that? Well, to me it's really important that you obviously have a plan and you have a strategy in place. THat's kind of a given, but for me one of the things that I stress to my clients is having the ability to look at various timeframe charts throughout the day or the week and I think it's really important. Let's discuss that.
If you're looking at say like the monthly charts or the weekly charts, of course for some people they're too big, they're too slow, they take too long to mature trades. Some people seem to think that they can't trade them because they don't have a big enough account or they can't afford such a big stop loss, which is actually incorrect, but that's a different subject. But for the me, the monthly and the weekly charts are trades that kind of tick along in the background doing their own thing, bigger picture, I'm happy to leave them in for several days, several weeks, sometimes even several months if needed, and they're sort of like … Kind of like the bread and butter behind the scenes. Still high reward to risk trades, in fact very high reward to risk.
Spread virtually has zero effect at all on say like a monthly or weekly chart and they just sit there looking at the bigger trend, the bigger picture and very, very nice charts to trade when you see good setups.
My favourite time frame chart
Come down to slightly shorter than that and that's the daily chart. Now that's still after 15 years of trading, that is still my favourite timeframe chart to trade. Why? Because I can look once a day. It's faster than obviously like the weekly and the monthly. It has more relevance to what's happening in the market right now and it's juts a great chart to trade. Once a day look at the charts, are there any good setups on the daily charts? Yes or no? If there are, take them.
Generally I find one or two, sometimes three or four a day and that's what I post to my clients on our membership site. Really high reward to risk trades, easy to place, put them on.
H12, H8 and H6 charts
The bigger picture is less of an issue, it's more riding that sort of … That movement within the course of a few days. Then you come down short a timeframe again. I've got software that allows us on MT4 to trade charts like twelve hours, eight hours, six hours, fantastic charts.]]>https://theforextradingcoach.com/?p=9917Mon, 14 Jan 2019 07:20:15 +0000Andrew MitchemPodcast: Helping you trade the right way in 2019 and beyond In this weekly video: 00:21 – Happy New Year 00:41 – A lot of political events 01:14 – Having a strategy and a plan 02:33 – My favourite time frame chart 03:21 – H12, H8 and H6 charts 04:01...
Helping you trade the right way in 2019 and beyond
In this weekly video:
00:21 – Happy New Year
00:41 – A lot of political events
01:14 – Having a strategy and a plan
02:33 – My favourite time frame chart
03:21 – H12, H8 and H6 charts
04:01 – Take the higher probability trade setups
04:38 – Shorter time frame charts
05:33 – Forget about making pips
2019, what does it hold for you as a Forex trader? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 304.
Happy New Year
Happy New Year and happy start to 2019. I want to discuss a few things with you on today's video and podcast that's going to help you as a trader into 2019 because quite likely we are going to see some fairly difficult trading conditions will be my guess at this stage.
A lot of political events
A lot of political events happening right now with Brexit still undecided, political unrest within Europe, issues in South Africa, China of course, and the US and Trump and difference enhancements in how the world and the market reacts to all of that. On top of that, you know there's still Russia and there's lots of things happening politically around the world that can affect us as traders whether we like it or not. Whether we're technical traders or fundamental traders, the political events do have a bearing.
Having a strategy and a plan
What can we do about that? Well, to me it's really important that you obviously have a plan and you have a strategy in place. THat's kind of a given, but for me one of the things that I stress to my clients is having the ability to look at various timeframe charts throughout the day or the week and I think it's really important. Let's discuss that.
If you're looking at say like the monthly charts or the weekly charts, of course for some people they're too big, they're too slow, they take too long to mature trades. Some people seem to think that they can't trade them because they don't have a big enough account or they can't afford such a big stop loss, which is actually incorrect, but that's a different subject. But for the me, the monthly and the weekly charts are trades that kind of tick along in the background doing their own thing, bigger picture, I'm happy to leave them in for several days, several weeks, sometimes even several months if needed, and they're sort of like … Kind of like the bread and butter behind the scenes. Still high reward to risk trades, in fact very high reward to risk.
Spread virtually has zero effect at all on say like a monthly or weekly chart and they just sit there looking at the bigger trend, the bigger picture and very, very nice charts to trade when you see good setups.
My favourite time frame chart
Come down to slightly shorter than that and that's the daily chart. Now that's still after 15 years of trading, that is still my favourite timeframe chart to trade. Why? Because I can look once a day. It's faster than obviously like the weekly and the monthly. It has more relevance to what's happening in the market right now and it's juts a great chart to trade. Once a day look at the charts, are there any good setups on the daily charts? Yes or no? If there are, take them.
Generally I find one or two, sometimes three or four a day and that's what I post to my clients on our membership site. Really high reward to risk trades, easy to place, put them on.
H12, H8 and H6 charts
The bigger picture is less of an issue, it's more riding that sort of … That movement within the course of a few days. Then you come down short a timeframe again. I've got software that allows us on MT4 to trade charts like twelve hours, eight hours, six hours, fantastic charts.]]>365falsefullhttps://www.spreaker.com/episode/304-helping-you-trade-the-right-way-in-2019-and-beyond--16702591
Helping you trade the right way in 2019 and beyond
In this weekly video:
00:21 – Happy New Year
00:41 – A lot of political events
01:14 – Having a strategy and a plan
02:33 – My favourite time frame chart
03:21 – H12, H8 and H6 charts
04:01 – Take the higher probability trade setups
04:38 – Shorter time frame charts
05:33 – Forget about making pips
2019, what does it hold for you as a Forex trader? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 304.
Happy New Year
Happy New Year and happy start to 2019. I want to discuss a few things with you on today's video and podcast that's going to help you as a trader into 2019 because quite likely we are going to see some fairly difficult trading conditions will be my guess at this stage.
A lot of political events
A lot of political events happening right now with Brexit still undecided, political unrest within Europe, issues in South Africa, China of course, and the US and Trump and difference enhancements in how the world and the market reacts to all of that. On top of that, you know there's still Russia and there's lots of things happening politically around the world that can affect us as traders whether we like it or not. Whether we're technical traders or fundamental traders, the political events do have a bearing.
Having a strategy and a plan
What can we do about that? Well, to me it's really important that you obviously have a plan and you have a strategy in place. THat's kind of a given, but for me one of the things that I stress to my clients is having the ability to look at various timeframe charts throughout the day or the week and I think it's really important. Let's discuss that.
If you're looking at say like the monthly charts or the weekly charts, of course for some people they're too big, they're too slow, they take too long to mature trades. Some people seem to think that they can't trade them because they don't have a big enough account or they can't afford such a big stop loss, which is actually incorrect, but that's a different subject. But for the me, the monthly and the weekly charts are trades that kind of tick along in the background doing their own thing, bigger picture, I'm happy to leave them in for several days, several weeks, sometimes even several months if needed, and they're sort of like … Kind of like the bread and butter behind the scenes. Still high reward to risk trades, in fact very high reward to risk.
Spread virtually has zero effect at all on say like a monthly or weekly chart and they just sit there looking at the bigger trend, the bigger picture and very, very nice charts to trade when you see good setups.
My favourite time frame chart
Come down to slightly shorter than that and that's the daily chart. Now that's still after 15 years of trading, that is still my favourite timeframe chart to trade. Why? Because I can look once a day. It's faster than obviously like the weekly and the monthly. It has more relevance to what's happening in the market right now and it's juts a great chart to trade. Once a day look at the charts, are there any good setups on the daily charts? Yes or no? If there are, take them.
Generally I find one or two, sometimes three or four a day and that's what I post to my clients on our membership site. Really high reward to risk trades, easy to place, put them on.
H12, H8 and H6 charts
The bigger picture is less of an issue, it's more riding that sort of … That movement within the course of a few days. Then you come down short a timeframe again. I've got software that allows us on MT4 to trade charts like twelve hours, eight hours, six hours, fantastic charts. Absolutely amazing charts and timeframes to trade ...]]>https://theforextradingcoach.com/?p=9418Sun, 13 Jan 2019 22:07:00 +0000Andrew MitchemPodcast: Helping you trade the right way in 2019 and beyond In this weekly video: 00:21 – Happy New Year 00:41 – A lot of political events 01:14 – Having a strategy and a plan 02:33 – My favourite time frame chart 03:21 – H12, H8 and H6 charts 04:01...
Helping you trade the right way in 2019 and beyond
In this weekly video:
00:21 – Happy New Year
00:41 – A lot of political events
01:14 – Having a strategy and a plan
02:33 – My favourite time frame chart
03:21 – H12, H8 and H6 charts
04:01 – Take the higher probability trade setups
04:38 – Shorter time frame charts
05:33 – Forget about making pips
2019, what does it hold for you as a Forex trader? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 304.
Happy New Year
Happy New Year and happy start to 2019. I want to discuss a few things with you on today's video and podcast that's going to help you as a trader into 2019 because quite likely we are going to see some fairly difficult trading conditions will be my guess at this stage.
A lot of political events
A lot of political events happening right now with Brexit still undecided, political unrest within Europe, issues in South Africa, China of course, and the US and Trump and difference enhancements in how the world and the market reacts to all of that. On top of that, you know there's still Russia and there's lots of things happening politically around the world that can affect us as traders whether we like it or not. Whether we're technical traders or fundamental traders, the political events do have a bearing.
Having a strategy and a plan
What can we do about that? Well, to me it's really important that you obviously have a plan and you have a strategy in place. THat's kind of a given, but for me one of the things that I stress to my clients is having the ability to look at various timeframe charts throughout the day or the week and I think it's really important. Let's discuss that.
If you're looking at say like the monthly charts or the weekly charts, of course for some people they're too big, they're too slow, they take too long to mature trades. Some people seem to think that they can't trade them because they don't have a big enough account or they can't afford such a big stop loss, which is actually incorrect, but that's a different subject. But for the me, the monthly and the weekly charts are trades that kind of tick along in the background doing their own thing, bigger picture, I'm happy to leave them in for several days, several weeks, sometimes even several months if needed, and they're sort of like … Kind of like the bread and butter behind the scenes. Still high reward to risk trades, in fact very high reward to risk.
Spread virtually has zero effect at all on say like a monthly or weekly chart and they just sit there looking at the bigger trend, the bigger picture and very, very nice charts to trade when you see good setups.
My favourite time frame chart
Come down to slightly shorter than that and that's the daily chart. Now that's still after 15 years of trading, that is still my favourite timeframe chart to trade. Why? Because I can look once a day. It's faster than obviously like the weekly and the monthly. It has more relevance to what's happening in the market right now and it's juts a great chart to trade. Once a day look at the charts, are there any good setups on the daily charts? Yes or no? If there are, take them.
Generally I find one or two, sometimes three or four a day and that's what I post to my clients on our membership site. Really high reward to risk trades, easy to place, put them on.
H12, H8 and H6 charts
The bigger picture is less of an issue, it's more riding that sort of … That movement within the course of a few days. Then you come down short a timeframe again. I've got software that allows us on MT4 to trade charts like twelve hours, eight hours, six hours, fantastic charts. Absolutely amazing charts and timeframes to trade ...]]>365falsefullhttps://www.spreaker.com/episode/303-evaluate-your-trading-year--16490765
Evaluate Your Trading Year
In this weekly video:
00:31 – Was 2018 a good trading year for you?
01:02 – What worked and what did not work?
01:42 – Stop the searching and time wasting
02:31 – Surround yourself with real traders
03:14 – Client makes 7% gain in 1 week
03:52 – Daily analysis finishes 21st December and starts on 14th January 2019
04:30 – We love trading and see you in 2019
How has your trading gone this year and what are you going to do to make any changes as we head into next year? Let's talk about that and more right now.
Hey, traders, Andrew Mitchem here, The Forex Trading Coach, with video and podcast number 303, coming from Nelson in the South Island.
Early morning here as I'm off for the day. We're down here on holiday and just wanted to make this video. The last one for 2018. And really to talk about how has your year gone?
Was 2018 a good trading year for you?
What's been good for you? What's worked? What's not worked? What time frame charts have worked? What type of strategies worked? And what is it that you need to do? Just use the next few weeks over Christmas, over New Year, to evaluate your trading and to really to put you in the right position for making next year a really good year for you.
Have you found that the technical analysis has worked? Have you found that maybe fundamental analysis has worked? Maybe you're looking at a combination of the two.
What worked and what did not work?
Maybe you're completely confused and you're not sure what should work or what does work. Maybe your finding yourself glued to the charts all day and you're finding that maybe 15 minute charts are just not working for you. It's just too fast. Maybe you think that daily charts, or weekly or monthly charts, you don't have a big enough account. Whatever it is, use these next few weeks to really workout what is going to make 2019, and beyond, work for you. Really important you do that.
Stop the searching and time wasting
I also think it's important that a lot of people I hear from, who are not clients, they're spending far too much time searching around Google, looking for the next latest greatest strategy. They're spending too much time on forum sites and basically getting inundated with other people's opinions and information overload. The old analysis paralysis going on there. You know, that can be dangerous as well because a lot of those places, in all honesty, are probably populated by people who don't trade, who can't trade, that type of thing. A bit of a generalisation, but you know, online, a lot of places like that, forums, etc., especially in the trading world, can be like that.
Surround yourself with real traders
It's important that you surround yourself with real traders. People who are trading. People also not glued to the charts. Like I said, I'm here in Nelson, I'm trading off the daily charts this week. I put a few trades on the weekly charts as well, but I'm not trading much else, because I don't want to this week, I'm doing other things. Got the family here, going around, been on the beach, although it was a bit of a cloudy day today. Just having a good time doing other things.
And really, you need to surround yourself by people who are, who I suppose walking the talk, not just talking it, they're actually out there doing it, and I think that's really important as well.
Client makes 7% gain in 1 week
Look, I'll just received an email this morning from a client, Mickoli. And Mickoli said, "Hey Andrew, last week I was trading just on the longer time frame chats and I made 7% in a week." Now, he's risking 1% per trade, but we made a 7% return last week. So, ask yourself, do you want to do that from just trading 10, 20 minutes, once a day? And if you do,]]>https://theforextradingcoach.com/?p=9395Sun, 16 Dec 2018 22:11:52 +0000Andrew MitchemPodcast: Evaluate Your Trading Year In this weekly video: 00:31 – Was 2018 a good trading year for you? 01:02 – What worked and what did not work? 01:42 – Stop the searching and time wasting 02:31 – Surround yourself with real traders 03:14 – Client...
Evaluate Your Trading Year
In this weekly video:
00:31 – Was 2018 a good trading year for you?
01:02 – What worked and what did not work?
01:42 – Stop the searching and time wasting
02:31 – Surround yourself with real traders
03:14 – Client makes 7% gain in 1 week
03:52 – Daily analysis finishes 21st December and starts on 14th January 2019
04:30 – We love trading and see you in 2019
How has your trading gone this year and what are you going to do to make any changes as we head into next year? Let's talk about that and more right now.
Hey, traders, Andrew Mitchem here, The Forex Trading Coach, with video and podcast number 303, coming from Nelson in the South Island.
Early morning here as I'm off for the day. We're down here on holiday and just wanted to make this video. The last one for 2018. And really to talk about how has your year gone?
Was 2018 a good trading year for you?
What's been good for you? What's worked? What's not worked? What time frame charts have worked? What type of strategies worked? And what is it that you need to do? Just use the next few weeks over Christmas, over New Year, to evaluate your trading and to really to put you in the right position for making next year a really good year for you.
Have you found that the technical analysis has worked? Have you found that maybe fundamental analysis has worked? Maybe you're looking at a combination of the two.
What worked and what did not work?
Maybe you're completely confused and you're not sure what should work or what does work. Maybe your finding yourself glued to the charts all day and you're finding that maybe 15 minute charts are just not working for you. It's just too fast. Maybe you think that daily charts, or weekly or monthly charts, you don't have a big enough account. Whatever it is, use these next few weeks to really workout what is going to make 2019, and beyond, work for you. Really important you do that.
Stop the searching and time wasting
I also think it's important that a lot of people I hear from, who are not clients, they're spending far too much time searching around Google, looking for the next latest greatest strategy. They're spending too much time on forum sites and basically getting inundated with other people's opinions and information overload. The old analysis paralysis going on there. You know, that can be dangerous as well because a lot of those places, in all honesty, are probably populated by people who don't trade, who can't trade, that type of thing. A bit of a generalisation, but you know, online, a lot of places like that, forums, etc., especially in the trading world, can be like that.
Surround yourself with real traders
It's important that you surround yourself with real traders. People who are trading. People also not glued to the charts. Like I said, I'm here in Nelson, I'm trading off the daily charts this week. I put a few trades on the weekly charts as well, but I'm not trading much else, because I don't want to this week, I'm doing other things. Got the family here, going around, been on the beach, although it was a bit of a cloudy day today. Just having a good time doing other things.
And really, you need to surround yourself by people who are, who I suppose walking the talk, not just talking it, they're actually out there doing it, and I think that's really important as well.
Client makes 7% gain in 1 week
Look, I'll just received an email this morning from a client, Mickoli. And Mickoli said, "Hey Andrew, last week I was trading just on the longer time frame chats and I made 7% in a week." Now, he's risking 1% per trade, but we made a 7% return last week. So, ask yourself, do you want to do that from just trading 10, 20 minutes, once a day? And if you do,]]>311falsefullhttps://www.spreaker.com/episode/302-10-10-winning-trades-this-week--16424055
10/10 Winning Trades This Week
In this weekly video:
00:27 – An exceptional week’s trading
01:06 – Large opening gaps this week
01:20 – Monthly US jobs news
01:52 – 4 trades taken live made +4.15%
03:00 – Forum site also includes other trades
03:39 – This shows what can be achieved
Hey traders, when you get 10/10 trades hit their full profit target, you know you've had an awesome week. So let's talk about that and explain more right now.
Hi traders, Andrew Mitchem here from the Forex Trading Coach, video and podcast number 302.
As I mentioned, when you get 10/10 trades in a week all hit the profit target, the full profit target, you know you've had a really good week. That's exactly what we've had.
An exceptional week’s trading
It's just been an awesome week on the membership site that we have. So to start with, we have had 6/6 of our daily trade suggestions this week all hit their full profit targets. They've ranged between 1.5:1 reward to risk, which was the lowest, and all the other five are 2.2:2.8 reward to risk. So very high reward to risk on those trades there.
Large opening gaps this week
All six of those have been published on our membership site on Monday of this week, and if you have a look at your charts you would have seen those very enormous and quite ugly gaps on pretty much all the currency pairs at the beginning of the week. So Monday was a right off, we didn't take anything then.
Monthly US jobs news
Today is Friday, and so later today we have the US non-farm employment change, the monthly results, and we have the US for their jobs data. So we're expecting Friday to be a fairly quiet day probably leading up until that information. So I'm talking about just three trading days. We put six daily trades on our membership site, all in real time, all for people to look at to learn from, and all six have hit full profit.
On top of that, because I said 10/10, last night I held a webinar in the European session for my clients, a two hour long webinar.
4 trades taken live made +4.15%
I took four trades on a live account in real time in front of people. We had one trade on the one hour chart, that made a 2.4:1 reward to risk. Had a trade on the 30 minute chart that made a 2.9:1 reward to risk. Had another trade on a 30 minute chart made 1.8:1 and a trade on the 15 minute chart that made a 1.2:1. Put those four trades … Just those four trades together, half of 1% risk per trade, and anybody who followed that webinar, all my clients, would have made a 4.15% account gain just by copying those four trades. Taking them real time, you could see the trades setting up. I explained where the entry and exits were going to be, why we were taking the trade. 4%. 4.15%. That's just an incredible amount, just following a webinar and learning in two hours real time. No hindsight, no just picking out good trades and ignoring the bad trades. 6/6 on the dailies, 4/4 on the webinar.
Forum site also includes other trades
On top of that, we've got our forum site where clients are posting trades. We've got our chat area on our forum site as well, where people are chatting and talking about different trades. All I'm doing is talking about the daily trades and the trades from my live webinar just yesterday. 10/10. An awesome week.
Does that happen every week? Of course it does not happen every week. But when the market is showing, the conditions are there, and the trades are there and you're selective, it just shows what can be done once you know what you're doing.
As mentioned, be careful with the US non-farm employment change data, it's the last one of 2018. It could be quite volatile possibly just after that, maybe, depending on the result.
This shows what can be achieved]]>https://theforextradingcoach.com/?p=9377Sun, 09 Dec 2018 14:53:17 +0000Andrew MitchemPodcast: 10/10 Winning Trades This Week In this weekly video: 00:27 – An exceptional week’s trading 01:06 – Large opening gaps this week 01:20 – Monthly US jobs news 01:52 – 4 trades taken live made +4.15% 03:00 – Forum site also includes other...
10/10 Winning Trades This Week
In this weekly video:
00:27 – An exceptional week’s trading
01:06 – Large opening gaps this week
01:20 – Monthly US jobs news
01:52 – 4 trades taken live made +4.15%
03:00 – Forum site also includes other trades
03:39 – This shows what can be achieved
Hey traders, when you get 10/10 trades hit their full profit target, you know you've had an awesome week. So let's talk about that and explain more right now.
Hi traders, Andrew Mitchem here from the Forex Trading Coach, video and podcast number 302.
As I mentioned, when you get 10/10 trades in a week all hit the profit target, the full profit target, you know you've had a really good week. That's exactly what we've had.
An exceptional week’s trading
It's just been an awesome week on the membership site that we have. So to start with, we have had 6/6 of our daily trade suggestions this week all hit their full profit targets. They've ranged between 1.5:1 reward to risk, which was the lowest, and all the other five are 2.2:2.8 reward to risk. So very high reward to risk on those trades there.
Large opening gaps this week
All six of those have been published on our membership site on Monday of this week, and if you have a look at your charts you would have seen those very enormous and quite ugly gaps on pretty much all the currency pairs at the beginning of the week. So Monday was a right off, we didn't take anything then.
Monthly US jobs news
Today is Friday, and so later today we have the US non-farm employment change, the monthly results, and we have the US for their jobs data. So we're expecting Friday to be a fairly quiet day probably leading up until that information. So I'm talking about just three trading days. We put six daily trades on our membership site, all in real time, all for people to look at to learn from, and all six have hit full profit.
On top of that, because I said 10/10, last night I held a webinar in the European session for my clients, a two hour long webinar.
4 trades taken live made +4.15%
I took four trades on a live account in real time in front of people. We had one trade on the one hour chart, that made a 2.4:1 reward to risk. Had a trade on the 30 minute chart that made a 2.9:1 reward to risk. Had another trade on a 30 minute chart made 1.8:1 and a trade on the 15 minute chart that made a 1.2:1. Put those four trades … Just those four trades together, half of 1% risk per trade, and anybody who followed that webinar, all my clients, would have made a 4.15% account gain just by copying those four trades. Taking them real time, you could see the trades setting up. I explained where the entry and exits were going to be, why we were taking the trade. 4%. 4.15%. That's just an incredible amount, just following a webinar and learning in two hours real time. No hindsight, no just picking out good trades and ignoring the bad trades. 6/6 on the dailies, 4/4 on the webinar.
Forum site also includes other trades
On top of that, we've got our forum site where clients are posting trades. We've got our chat area on our forum site as well, where people are chatting and talking about different trades. All I'm doing is talking about the daily trades and the trades from my live webinar just yesterday. 10/10. An awesome week.
Does that happen every week? Of course it does not happen every week. But when the market is showing, the conditions are there, and the trades are there and you're selective, it just shows what can be done once you know what you're doing.
As mentioned, be careful with the US non-farm employment change data, it's the last one of 2018. It could be quite volatile possibly just after that, maybe, depending on the result.
This shows what can be achieved]]>252falsefullhttps://www.spreaker.com/episode/301-why-you-should-trade-different-time-frame-charts--16366897
Why you should trade different time frame charts
In this weekly video:
00:23 – It’s important to trade a variety of charts
01:00 – Different pairs have different characteristics
01:23 – Standard MT4 chart time frames
02:17 – H12 charts showed great trade setups
02:54 – No more time is needed to trade the offline charts
03:47 – Do not rely on one time frame
04:36 – High reward:risk trades
I'm going to explain why I like to trade a variety of different timeframe charts as Forex trader. Let's get into that and more, right now.
Hi traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Video and podcast number 301. I'm going to explain to you the importance of why I believe it's very important that you trade a variety of different timeframe charts as a Forex trader.
It’s important to trade a variety of charts
You see, different Forex pairs, different currencies have different personalities, and they all move in different kinds of ways.
Some are very fast moving, some are very slow moving. A little bit like people in some ways. The danger is, if you rely just on either one currency pair or, more importantly, just one timeframe chart, then you could be limiting the available trades that you see.
Different pairs have different characteristics
Different pairs have different months of the year or different days of the week or even different hours within a day that are better or worse for the different currency pair.
The problem is, is let's say you just traded the four hour charts let's say. The problem is, is what happens if the four hour charts that particular day or that week are either very volatile, and they're moving way too fast, or they're very quiet, and they're just dead?
Standard MT4 chart time frames
The problem is then is you're missing out on so many potential opportunities on other timeframe charts because you might find that the four hour charts that week that you trade them, they just don't show very many possibilities.
With a standard MT4 account, the main timeframes that I trade myself are the four hours, the daily, the weekly, and the monthly. That's good, but what I've done is I've developed some software, which I give to my clients as part of my coaching course, that allows us to trade other timeframes charts on the MT4 platform. We trade especially the six hour, the eight hour and the 12 hour charts. Depending on the week, for instance last week, the 12 hour chart showed some fantastic trade setups.
H12 charts showed great trade setups
This week, the four hour charts have been showing some really good setups, and it's all depending on the nature of the market at the time. The problem is, is that you don't know in advance what next week's going to show us. What's going to be the best timeframe to trade? You don't know. When people come to me, and they say, "Andrew, what's the best timeframe chart I should trade?" I say, "Well, it depends."
So, there is no one answer that's correct. It depends on the market at that time. That's why I like to look at a different variety of timeframe charts. But the beauty of it is, is it doesn't mean to say that you're spending a great deal of extra time trading.
No more time is needed to trade the offline charts
You see, when the daily charts change over at 5:00 PM New York time, at that same time, I can look at the 12 hour, the eight hour, the six hour and the four hour charts.
I'm looking at the daily charts anyway at that time, so for an extra, maybe 10 minutes, I can scan through those other timeframe charts and look for different trading opportunities. That's the beauty of it. As mentioned, this particular week right now, four hour charts on our forum site have gone absolutely crazy.]]>https://theforextradingcoach.com/?p=8086Sun, 02 Dec 2018 21:32:35 +0000Andrew MitchemPodcast: Why you should trade different time frame charts In this weekly video: 00:23 – It’s important to trade a variety of charts 01:00 – Different pairs have different characteristics 01:23 – Standard MT4 chart time frames 02:17 – H12 charts...
Why you should trade different time frame charts
In this weekly video:
00:23 – It’s important to trade a variety of charts
01:00 – Different pairs have different characteristics
01:23 – Standard MT4 chart time frames
02:17 – H12 charts showed great trade setups
02:54 – No more time is needed to trade the offline charts
03:47 – Do not rely on one time frame
04:36 – High reward:risk trades
I'm going to explain why I like to trade a variety of different timeframe charts as Forex trader. Let's get into that and more, right now.
Hi traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Video and podcast number 301. I'm going to explain to you the importance of why I believe it's very important that you trade a variety of different timeframe charts as a Forex trader.
It’s important to trade a variety of charts
You see, different Forex pairs, different currencies have different personalities, and they all move in different kinds of ways.
Some are very fast moving, some are very slow moving. A little bit like people in some ways. The danger is, if you rely just on either one currency pair or, more importantly, just one timeframe chart, then you could be limiting the available trades that you see.
Different pairs have different characteristics
Different pairs have different months of the year or different days of the week or even different hours within a day that are better or worse for the different currency pair.
The problem is, is let's say you just traded the four hour charts let's say. The problem is, is what happens if the four hour charts that particular day or that week are either very volatile, and they're moving way too fast, or they're very quiet, and they're just dead?
Standard MT4 chart time frames
The problem is then is you're missing out on so many potential opportunities on other timeframe charts because you might find that the four hour charts that week that you trade them, they just don't show very many possibilities.
With a standard MT4 account, the main timeframes that I trade myself are the four hours, the daily, the weekly, and the monthly. That's good, but what I've done is I've developed some software, which I give to my clients as part of my coaching course, that allows us to trade other timeframes charts on the MT4 platform. We trade especially the six hour, the eight hour and the 12 hour charts. Depending on the week, for instance last week, the 12 hour chart showed some fantastic trade setups.
H12 charts showed great trade setups
This week, the four hour charts have been showing some really good setups, and it's all depending on the nature of the market at the time. The problem is, is that you don't know in advance what next week's going to show us. What's going to be the best timeframe to trade? You don't know. When people come to me, and they say, "Andrew, what's the best timeframe chart I should trade?" I say, "Well, it depends."
So, there is no one answer that's correct. It depends on the market at that time. That's why I like to look at a different variety of timeframe charts. But the beauty of it is, is it doesn't mean to say that you're spending a great deal of extra time trading.
No more time is needed to trade the offline charts
You see, when the daily charts change over at 5:00 PM New York time, at that same time, I can look at the 12 hour, the eight hour, the six hour and the four hour charts.
I'm looking at the daily charts anyway at that time, so for an extra, maybe 10 minutes, I can scan through those other timeframe charts and look for different trading opportunities. That's the beauty of it. As mentioned, this particular week right now, four hour charts on our forum site have gone absolutely crazy.]]>336falsefullhttps://www.spreaker.com/episode/300-the-most-important-things-you-need-to-do-in-order-to-be-a-good-forex-trader--16307972
The most important things you need to do in order to be a good Forex trader
In this weekly video:
00:25 – An overview of being a good trader
01:11 – The right attitude and mindset
02:15 – Work out what works for you
03:03 – Patience is key to success
03:45 – Understanding position sizing and reward:risk
04:38 – Be slow, steady and consistent
05:30 – Don’t listen to most of the information online
06:14 – Keep things basic
07:40 –  Contact me if you’d like to take your trading further
I'm going to discuss the most important aspects that makes a successful Forex trader. Really important information, listen up, here we go.
Hey traders, Andrew Mitchem here. The owner of the Forex Trading Coach with video and podcast number 300.
An overview of being a good trader
I thought for the 300th episode, we'd take basically an overview of the most important things that in my opinion you need to have developed in order to become a good trader, to become a successful trader. In no particular order, but really when you think about it, if you're going to be a Forex trader, you've got to enjoy it. There's no point in doing something if you don't enjoy it. Don't just think oh, I've seen this thing online and it's easy money. I can make passive income, I can give up my job because I hate my job. Whatever it is, a lot of people have some very weird and quirky reasons for getting into trading, but the most important thing I think at the very beginning is you have to enjoy it. You've got to have a bit of a passion to want to do it, to get a bit of a buzz out of doing it. Those types of things, so that's really important up front.
The right attitude and mindset
Then you've got to have the right mindset and the right attitude towards it. Now a lot of people come into trading and they blame people, they blame the market, they blame the broker, they blame their coach, they blame everybody but themselves. You can't do that. You can't sort of start throwing hands up in the air and throwing your toys out of the cot if after the first month of trading it's not working for you because the reality is if you have that kind of mental approach, that thought process, then the likelihood is it's not going to work for you, doesn't matter how long you do it. You've got to have that sort of understanding that you're in this as an investment, you're going to get yourself educated, you're going to take your time, do it slowly, and if you do it that way, then things … You've got a far better chance of making it work for you. That whole mental aspect and approach is really, really important. You can't be like too fiery and just throw everything, blame everybody if things don't go right. It's your problem. Harsh but true.
Next thing is you've got to work at what works for you. Now it might seem a bit obvious to say that but it's got to be …
Work out what works for you
You have to develop a way of trading that actually suits you, suits your personality, suits other commitments that you have, suits how much or how little you want to trade. Those types of things. Do you want to be a scalper? Well, no harm in being a scalper. I don't personally do it because it doesn't suit me but you can still trade my strategy on five minute charts if you really wanted to, but you've got to work at what works for you in terms of the type of trader that you are. You've got to understand that if you're looking for certain patents, you've got to be consistent with them. If you're looking for strength and weakness, you've got to be consistent with that trading approach. It's really important to get all of that together.
Patience is a big one. We've talked about that recently on these videos and podcasts. Patience is a massive, massive key to being successful.]]>https://theforextradingcoach.com/?p=8077Sun, 25 Nov 2018 22:17:07 +0000Andrew MitchemPodcast: The most important things you need to do in order to be a good Forex trader In this weekly video: 00:25 – An overview of being a good trader 01:11 – The right attitude and mindset 02:15 – Work out what works for you 03:03 – Patience is key...
The most important things you need to do in order to be a good Forex trader
In this weekly video:
00:25 – An overview of being a good trader
01:11 – The right attitude and mindset
02:15 – Work out what works for you
03:03 – Patience is key to success
03:45 – Understanding position sizing and reward:risk
04:38 – Be slow, steady and consistent
05:30 – Don’t listen to most of the information online
06:14 – Keep things basic
07:40 –  Contact me if you’d like to take your trading further
I'm going to discuss the most important aspects that makes a successful Forex trader. Really important information, listen up, here we go.
Hey traders, Andrew Mitchem here. The owner of the Forex Trading Coach with video and podcast number 300.
An overview of being a good trader
I thought for the 300th episode, we'd take basically an overview of the most important things that in my opinion you need to have developed in order to become a good trader, to become a successful trader. In no particular order, but really when you think about it, if you're going to be a Forex trader, you've got to enjoy it. There's no point in doing something if you don't enjoy it. Don't just think oh, I've seen this thing online and it's easy money. I can make passive income, I can give up my job because I hate my job. Whatever it is, a lot of people have some very weird and quirky reasons for getting into trading, but the most important thing I think at the very beginning is you have to enjoy it. You've got to have a bit of a passion to want to do it, to get a bit of a buzz out of doing it. Those types of things, so that's really important up front.
The right attitude and mindset
Then you've got to have the right mindset and the right attitude towards it. Now a lot of people come into trading and they blame people, they blame the market, they blame the broker, they blame their coach, they blame everybody but themselves. You can't do that. You can't sort of start throwing hands up in the air and throwing your toys out of the cot if after the first month of trading it's not working for you because the reality is if you have that kind of mental approach, that thought process, then the likelihood is it's not going to work for you, doesn't matter how long you do it. You've got to have that sort of understanding that you're in this as an investment, you're going to get yourself educated, you're going to take your time, do it slowly, and if you do it that way, then things … You've got a far better chance of making it work for you. That whole mental aspect and approach is really, really important. You can't be like too fiery and just throw everything, blame everybody if things don't go right. It's your problem. Harsh but true.
Next thing is you've got to work at what works for you. Now it might seem a bit obvious to say that but it's got to be …
Work out what works for you
You have to develop a way of trading that actually suits you, suits your personality, suits other commitments that you have, suits how much or how little you want to trade. Those types of things. Do you want to be a scalper? Well, no harm in being a scalper. I don't personally do it because it doesn't suit me but you can still trade my strategy on five minute charts if you really wanted to, but you've got to work at what works for you in terms of the type of trader that you are. You've got to understand that if you're looking for certain patents, you've got to be consistent with them. If you're looking for strength and weakness, you've got to be consistent with that trading approach. It's really important to get all of that together.
Patience is a big one. We've talked about that recently on these videos and podcasts. Patience is a massive, massive key to being successful.]]>487falsefullhttps://www.spreaker.com/episode/299-should-you-trade-the-news--16253931
Should you trade the news?
In this weekly video:
00:29 – News trading – does it work?
00:58 –  Or are you a technical Forex trader?
01:38 – Trading the US jobs news
02:20 – Australian employment data
04:18 – The choice is yours
05:19 – Send me your trading questions to andrew@theforextradingcoach.com
As a trader should you trade the news announcements or not? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast number 299.
So today I want to talk about news and trading around the news. Should you do it? Should you look at trading those high impact news announcements that come out every day of the trading week or not?
News trading – does it work?
Really, it depends on you as a trader as a person whether you want to or not. So really, if you're not sure a news trader or a fundamental trader is someone who trades news announcements. It basically becomes an opinion on whether you think that news is good or bad for a currency. You get the high impact news announcements like interest rates, employment, those type of things. Or you are a technical trader, like I am.
Or are you a technical Forex trader?
The technical trader looks at charts and looks at patterns and price action and price levels and technical indicators and you make your trading decisions from there.
Of course, some people can use both. Although I'm a technical trader, of course I am aware of the news announcements and what's coming up and which currency they are likely to affect. I go and check what those results are. But the fundamentals do not affect my trading; I'm purely a technical trader. Because for me the charts tell me everything I need to know. Now, as a fundamental trader years ago … 10, 12, 14 years ago, I used to trade nonfarm payrolls and nonfarm employment change.
Trading the US jobs news
First Friday of each month, US employment data. You speak absolutely easy, used to make a fortune from it, because you'd put a straddle on, a buy and sell stop, and the market would just break out massively one way or the other. I used to make a lot of money.
But of course today, brokers have wised up on things like that. It's very hard to take straddle trades. The price can sometimes freeze on your charts around the high impact news times. The spreads can massively widen. All those kind of things. So that was a long time ago when that was easy to trade. Today it's very, very different.
Australian employment data
To give you an example, just yesterday on Thursday there was the Australian employment data came out. Now, a lot of jobs got created, far more than expected. The unemployment went down. So very, very good news for the Australian economy. However, on Wednesday on my membership site, and actually on the free information I post on various websites, I suggested buying the Australian Dollar against the US and against the Yen. But for my clients as a specific trade we had buy the Australian Dollar/US Dollar at these levels and the market order stop loss here and profit timing there and the reasons why. It's all taught in the course. Real simple. But we had an Australian Dollar/US Dollar buy trade on the daily chart based off the close of Tuesday's candle for Wednesday trading session.
Yesterday, that trade hit the full profit target for a 3.2:1 reward to risk. So if you take a 1% risk on that trade, it made you 3.2% account gain. I took a 0.5% risk so it made a 1.6% account gain from that one trade, which took me about 30 seconds to see and about another 30 seconds to place on my platform. A 1.6% account gain. Simple. Yes, it took just over a day to get there. But the thing that I'm wanting to let you know is that we were seeing the strength in the Australian Dollar over a day before the a...]]>https://theforextradingcoach.com/?p=8063Sun, 18 Nov 2018 22:07:53 +0000Andrew MitchemPodcast: Should you trade the news? In this weekly video: 00:29 – News trading – does it work? 00:58 –  Or are you a technical Forex trader? 01:38 – Trading the US jobs news 02:20 – Australian employment data 04:18 – The choice is yours 05:19 – Send...
Should you trade the news?
In this weekly video:
00:29 – News trading – does it work?
00:58 –  Or are you a technical Forex trader?
01:38 – Trading the US jobs news
02:20 – Australian employment data
04:18 – The choice is yours
05:19 – Send me your trading questions to andrew@theforextradingcoach.com
As a trader should you trade the news announcements or not? Let's talk about that and more right now.
Hey traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast number 299.
So today I want to talk about news and trading around the news. Should you do it? Should you look at trading those high impact news announcements that come out every day of the trading week or not?
News trading – does it work?
Really, it depends on you as a trader as a person whether you want to or not. So really, if you're not sure a news trader or a fundamental trader is someone who trades news announcements. It basically becomes an opinion on whether you think that news is good or bad for a currency. You get the high impact news announcements like interest rates, employment, those type of things. Or you are a technical trader, like I am.
Or are you a technical Forex trader?
The technical trader looks at charts and looks at patterns and price action and price levels and technical indicators and you make your trading decisions from there.
Of course, some people can use both. Although I'm a technical trader, of course I am aware of the news announcements and what's coming up and which currency they are likely to affect. I go and check what those results are. But the fundamentals do not affect my trading; I'm purely a technical trader. Because for me the charts tell me everything I need to know. Now, as a fundamental trader years ago … 10, 12, 14 years ago, I used to trade nonfarm payrolls and nonfarm employment change.
Trading the US jobs news
First Friday of each month, US employment data. You speak absolutely easy, used to make a fortune from it, because you'd put a straddle on, a buy and sell stop, and the market would just break out massively one way or the other. I used to make a lot of money.
But of course today, brokers have wised up on things like that. It's very hard to take straddle trades. The price can sometimes freeze on your charts around the high impact news times. The spreads can massively widen. All those kind of things. So that was a long time ago when that was easy to trade. Today it's very, very different.
Australian employment data
To give you an example, just yesterday on Thursday there was the Australian employment data came out. Now, a lot of jobs got created, far more than expected. The unemployment went down. So very, very good news for the Australian economy. However, on Wednesday on my membership site, and actually on the free information I post on various websites, I suggested buying the Australian Dollar against the US and against the Yen. But for my clients as a specific trade we had buy the Australian Dollar/US Dollar at these levels and the market order stop loss here and profit timing there and the reasons why. It's all taught in the course. Real simple. But we had an Australian Dollar/US Dollar buy trade on the daily chart based off the close of Tuesday's candle for Wednesday trading session.
Yesterday, that trade hit the full profit target for a 3.2:1 reward to risk. So if you take a 1% risk on that trade, it made you 3.2% account gain. I took a 0.5% risk so it made a 1.6% account gain from that one trade, which took me about 30 seconds to see and about another 30 seconds to place on my platform. A 1.6% account gain. Simple. Yes, it took just over a day to get there. But the thing that I'm wanting to let you know is that we were seeing the strength in the Australian Dollar over a day before the a...]]>353falsefullhttps://www.spreaker.com/episode/298-why-you-need-patience-to-trade-forex--16193380
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,]]>https://theforextradingcoach.com/?p=8050Sun, 11 Nov 2018 21:57:59 +0000Andrew MitchemPodcast: 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...
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,]]>284falsefullhttps://www.spreaker.com/episode/297-confusion-over-which-time-frame-you-should-trade--16135148
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 minut...]]>https://theforextradingcoach.com/?p=8040Sun, 04 Nov 2018 21:33:38 +0000Andrew MitchemPodcast: 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...
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 minut...]]>433falsefullhttps://www.spreaker.com/episode/296-having-no-strategy-is-a-recipe-for-disaster--16076948
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,]]>https://theforextradingcoach.com/?p=8030Sun, 28 Oct 2018 21:00:39 +0000Andrew MitchemPodcast: 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 –...
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,]]>258falsefullhttps://www.spreaker.com/episode/295-can-you-really-make-money-with-a-small-forex-account-part-2--16016893
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...]]>https://theforextradingcoach.com/?p=8015Sun, 21 Oct 2018 21:06:46 +0000Andrew MitchemPodcast: 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...
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...]]>477falsefullhttps://www.spreaker.com/episode/294-can-you-really-make-money-with-a-small-forex-account-part-1--15958792
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,]]>https://theforextradingcoach.com/?p=8005Sun, 14 Oct 2018 14:06:46 +0000Andrew MitchemPodcast: 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...
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,]]>505falsefullhttps://www.spreaker.com/episode/293-would-you-like-to-turn-your-trading-around--15903055
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,]]>https://theforextradingcoach.com/?p=7994Sun, 07 Oct 2018 21:04:43 +0000Andrew MitchemPodcast: 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...
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,]]>260falsefullhttps://www.spreaker.com/episode/292-using-currency-strength-and-weakness--15845392
Using Currency Strength and Weakness
In this weekly video:
00:28 – How strength and weakness can help your trading
01:12 – Free daily information published daily here https://theforextradingcoach.com/weekly-video-news.html
02:15 – How to use strength and weakness to your advantage
04:47 – Coaching clients receive much more information
Why does the strength of currency really matter, and how can understanding that information help you with your trading? Let's talk about that and more right now.
Hi, Forex traders, it's Andrew Mitchem here, owner of the Forex Trading Coach with video and podcast number 292.
How strength and weakness can help your trading
Now, I wanted to talk about the importance of understanding strength and weakness within a currency pair, and how that can help you with your own trading. I get asked quite often, hey, Andrew, why do you put importance on the strength of a currency? How does it effect my trading, why does it matter, what's the relevance?
And it's something, when you think about the logic of understanding strength and weakness, it's something that can dramatically help almost all Forex traders. So, regardless of your style of trading, or what your current strategy is, understanding the potential and the likely strength of a currency for that upcoming day, I believe can certainly help improve your results.
Free daily information published daily here https://theforextradingcoach.com/weekly-video-news.html
So, luckily for you, I publish, and I've done every day for the last seven or eight years, free information on my website where I publish at 5:00 at New York time, based off the close of the daily charts, the likely strength and weakness analysis for the upcoming 24 hours. So, it's information that you can use to help better trade for that upcoming day, that new day.
Now, why does it matter? Well, one of the things you will notice out there is that a lot of people talk in hindsight. They say, you know, economists are very good at it, aren't they? They'll say, yesterday, the British pound did this, or the US dollar did this, or there was some economic event, and the result was better or worse than expected, and this is what happened.
Now, a lot of that really quite honestly is useless information, because all that helps is to understand why something moved. It doesn't help us with like, taking new positions, not very much.
How to use strength and weakness to your advantage
However, if you can understand that, let's say, the US dollar is looking, let's say, really weak, and the Euro's looking really strong, the likelihood is that the Euro against the US dollar is heading upwards. So, if you take that out to a bigger picture, let's say if you look at the monthly charts, and you're seeing the Euro against the US dollar very strong. And even the weekly charts, you're seeing that the weekly charts are showing a lot of strength also, and so the daily charts.
Now, if you're trading on any timeframe chart, let's say a four hour chart for example, and you're seeing all this strength in the Euro against the US dollar, and you're then seeing the Euro, US dollar in four hour charts starting to pullback, and then it shows you a good strong bullish price action candle. It needs other things setting up, like it needs to be balancing at a good level, it needs a few extra things, trend line breaks, et cetera, to back it up even further.
But let's say you get all those things lining up together, you got almost like the perfect thing setting up there. You got the bigger picture strength, you got the daily strength,]]>https://theforextradingcoach.com/?p=7984Sun, 30 Sep 2018 21:11:50 +0000Andrew MitchemPodcast: Using Currency Strength and Weakness In this weekly video: 00:28 – How strength and weakness can help your trading 01:12 – Free daily information published daily here https://theforextradingcoach.com/weekly-video-news.html 02:15 – How to...
Using Currency Strength and Weakness
In this weekly video:
00:28 – How strength and weakness can help your trading
01:12 – Free daily information published daily here https://theforextradingcoach.com/weekly-video-news.html
02:15 – How to use strength and weakness to your advantage
04:47 – Coaching clients receive much more information
Why does the strength of currency really matter, and how can understanding that information help you with your trading? Let's talk about that and more right now.
Hi, Forex traders, it's Andrew Mitchem here, owner of the Forex Trading Coach with video and podcast number 292.
How strength and weakness can help your trading
Now, I wanted to talk about the importance of understanding strength and weakness within a currency pair, and how that can help you with your own trading. I get asked quite often, hey, Andrew, why do you put importance on the strength of a currency? How does it effect my trading, why does it matter, what's the relevance?
And it's something, when you think about the logic of understanding strength and weakness, it's something that can dramatically help almost all Forex traders. So, regardless of your style of trading, or what your current strategy is, understanding the potential and the likely strength of a currency for that upcoming day, I believe can certainly help improve your results.
Free daily information published daily here https://theforextradingcoach.com/weekly-video-news.html
So, luckily for you, I publish, and I've done every day for the last seven or eight years, free information on my website where I publish at 5:00 at New York time, based off the close of the daily charts, the likely strength and weakness analysis for the upcoming 24 hours. So, it's information that you can use to help better trade for that upcoming day, that new day.
Now, why does it matter? Well, one of the things you will notice out there is that a lot of people talk in hindsight. They say, you know, economists are very good at it, aren't they? They'll say, yesterday, the British pound did this, or the US dollar did this, or there was some economic event, and the result was better or worse than expected, and this is what happened.
Now, a lot of that really quite honestly is useless information, because all that helps is to understand why something moved. It doesn't help us with like, taking new positions, not very much.
How to use strength and weakness to your advantage
However, if you can understand that, let's say, the US dollar is looking, let's say, really weak, and the Euro's looking really strong, the likelihood is that the Euro against the US dollar is heading upwards. So, if you take that out to a bigger picture, let's say if you look at the monthly charts, and you're seeing the Euro against the US dollar very strong. And even the weekly charts, you're seeing that the weekly charts are showing a lot of strength also, and so the daily charts.
Now, if you're trading on any timeframe chart, let's say a four hour chart for example, and you're seeing all this strength in the Euro against the US dollar, and you're then seeing the Euro, US dollar in four hour charts starting to pullback, and then it shows you a good strong bullish price action candle. It needs other things setting up, like it needs to be balancing at a good level, it needs a few extra things, trend line breaks, et cetera, to back it up even further.
But let's say you get all those things lining up together, you got almost like the perfect thing setting up there. You got the bigger picture strength, you got the daily strength,]]>358falsefullhttps://www.spreaker.com/episode/291-what-is-the-best-way-to-learn-how-to-trade--15787597
What is the best way to learn how to trade?
In this weekly video:
00:24 – What is the best way to learn how to trade Forex?
01:25 – I started teaching nearly 10 years ago
02:01 – 132 reviews on the Forex Peace Army website
02:19 – Different ways of learning
03:41 – Paul Tillman is now teaching traders with TFTC
04:39 – One on one online learning
05:25 – 3 different ways to learn
06:00 – Links to the course options
What is the best way for you to learn how to trade in the Forex successfully? Let's talk about that more right now.
Hi Traders Andrew Mitchem here the Forex Trading Coach with video and podcast number 291.
What is the best way to learn how to trade Forex?
And it's a question I get asked quite often but what is the best way to learn how to trade the Forex market?
And the problem is there is no one right answer. Because it depends and it depends on quite a few things. It depends on you, how you best learn. Now I personally learned about 15 years ago through what I call the school of hard knocks. And it was basically through a lot of trial and error. And I did one small course in Oakland here in New Zealand, it wasn't particularly good, when I look back on it. But it got me in to the idea of trading and I sort of developed the love and the passion and the interest of trading from there onwards.
But back then you didn't really have the options of different courses and different strategies and ideas et cetera that you do today. So in many ways you are better off today, however the market is flooded with so many different suggestions and ideas. And a lot of people get obviously very confused with that and rightly so.
I started teaching nearly 10 years ago
so what's the answer? Well the way that I started teaching almost 10 years ago, when I developed my own strategy that worked particularly well. Was I started with some live in person and 1-on-1 training, that then developed in to some small group training. The problem is, is that then relied on me personally being there in front of people. We then developed that in to some 1-on-1 live webinar tuition. And from then, that then led to the video course and that's what people are been using for the last almost seven years now and very, very successfully.
132 reviews on the Forex Peace Army website
If you have a look on the Forex Peace Army on the website we've got 132 reviews and an average of 4.7 out of 5 star rating. So you can see that the success that people are getting from the video course is immense.
Different ways of learning
However, it's not just the video course, because some people like a little bit more interaction, and that's the beauty of the way that we teach and the structure of our course. Is that we have live weekly webinars where we are interacting with clients. You can ask questions you can see our screen live. So you've got that interaction and that ability to ask the mentor and the trader in real time questions. Without the benefit of hindsight, what would you do right now, all those kinds of things.
We've also got a forum site which is an excellent way of learning, and on top of that we have the daily trading suggestions which give people real time … and again without the benefit of hindsight. Because we are placing those trades ourselves in real time on the daily charts. We also post weekly and monthly chat rates as well. And then when you go to the shorter time frames, they get posted on to the forum site.
And so there's various different ways of learning that. Some people learn really well from the videos and the ability to go and watch and re watch. Other people love having that interaction and asking questions. Other people like seeing the daily trades and they're looking at their charts in real time trying to predi...]]>https://theforextradingcoach.com/?p=7972Sun, 23 Sep 2018 15:40:30 +0000Andrew MitchemPodcast: What is the best way to learn how to trade? In this weekly video: 00:24 – What is the best way to learn how to trade Forex? 01:25 – I started teaching nearly 10 years ago 02:01 – 132 reviews on the Forex Peace Army website 02:19 – Different...
What is the best way to learn how to trade?
In this weekly video:
00:24 – What is the best way to learn how to trade Forex?
01:25 – I started teaching nearly 10 years ago
02:01 – 132 reviews on the Forex Peace Army website
02:19 – Different ways of learning
03:41 – Paul Tillman is now teaching traders with TFTC
04:39 – One on one online learning
05:25 – 3 different ways to learn
06:00 – Links to the course options
What is the best way for you to learn how to trade in the Forex successfully? Let's talk about that more right now.
Hi Traders Andrew Mitchem here the Forex Trading Coach with video and podcast number 291.
What is the best way to learn how to trade Forex?
And it's a question I get asked quite often but what is the best way to learn how to trade the Forex market?
And the problem is there is no one right answer. Because it depends and it depends on quite a few things. It depends on you, how you best learn. Now I personally learned about 15 years ago through what I call the school of hard knocks. And it was basically through a lot of trial and error. And I did one small course in Oakland here in New Zealand, it wasn't particularly good, when I look back on it. But it got me in to the idea of trading and I sort of developed the love and the passion and the interest of trading from there onwards.
But back then you didn't really have the options of different courses and different strategies and ideas et cetera that you do today. So in many ways you are better off today, however the market is flooded with so many different suggestions and ideas. And a lot of people get obviously very confused with that and rightly so.
I started teaching nearly 10 years ago
so what's the answer? Well the way that I started teaching almost 10 years ago, when I developed my own strategy that worked particularly well. Was I started with some live in person and 1-on-1 training, that then developed in to some small group training. The problem is, is that then relied on me personally being there in front of people. We then developed that in to some 1-on-1 live webinar tuition. And from then, that then led to the video course and that's what people are been using for the last almost seven years now and very, very successfully.
132 reviews on the Forex Peace Army website
If you have a look on the Forex Peace Army on the website we've got 132 reviews and an average of 4.7 out of 5 star rating. So you can see that the success that people are getting from the video course is immense.
Different ways of learning
However, it's not just the video course, because some people like a little bit more interaction, and that's the beauty of the way that we teach and the structure of our course. Is that we have live weekly webinars where we are interacting with clients. You can ask questions you can see our screen live. So you've got that interaction and that ability to ask the mentor and the trader in real time questions. Without the benefit of hindsight, what would you do right now, all those kinds of things.
We've also got a forum site which is an excellent way of learning, and on top of that we have the daily trading suggestions which give people real time … and again without the benefit of hindsight. Because we are placing those trades ourselves in real time on the daily charts. We also post weekly and monthly chat rates as well. And then when you go to the shorter time frames, they get posted on to the forum site.
And so there's various different ways of learning that. Some people learn really well from the videos and the ability to go and watch and re watch. Other people love having that interaction and asking questions. Other people like seeing the daily trades and they're looking at their charts in real time trying to predi...]]>443falsefullhttps://www.spreaker.com/episode/290-are-you-about-to-quit-forex-trading--15732246
Are you about to quit Forex Trading?
In this weekly video:
00:26 – Frustrated trader on live webinar
01:06 –  Less in more
01:50 – No one perfect way of trading
02:24 – Look at your charts twice a day
03:31 – Buy and Sell Limit orders
04:20 – Be part of a trading community
05:10 – 3 trades made a +1.5% account gain
Are you about to give up Forex Trading that's just not working for you? If that's you, I've got some really important information for you to listen to first before making that decision. Here we go.
Hey traders, Andrew Mitchem here, the Forex Trading coach of video and podcast number 290.
Now, I wanna share with you a story from my live webinar with my clients just last night. Now in that webinar, I had a new client on his first live session with us as the group, and he said to me,
Frustrated trader on live webinar
"Hey, Andrew, I've been trading for eight years, on and off. It's just not working for me. I've joined your course as basically the last ditch effort to make trading work. What's the secret? Can you ask people on the webinar, other clients, what's the secret to making this whole thing work? Why are they successful and I'm not?"
It was really interesting to watch the comments come through from a number of my clients, and a number of them have been with me for many years.
Less in more
There were a range of comments come through, but basically it came down to the less-is-more philosophy, the trade to longer timeframe charts, the be selective with your trading as in don't take B grade setups. Only take the top quality setups. Get to understand the patterns that you're looking for. So, we looked for, basically, two quite distinctive patterns. One's a reversal, one's a continuation. Basically, if you get most of the setup looking exactly as you want, it doesn't matter what the pay or what the timeframe, what the direction is, but if you get that, so often the trades will work out. And why? It's because of probability.
No one perfect way of trading
Now, there is no one perfect way of trading, and different people have different ways of trading, obviously, and that's why the strategy that I use basically combines different bits and pieces of different strategies to get one overall proven strategy that works. Along with that strategy and the patterns that you're looking for, it was about taking those longer timeframe charts. Personally, I wouldn't look at anything less than one hour timeframes. Be selective. Don't worry if you miss trades. You're gonna miss trades. You don't have to be at your computer all the time.
Look at your charts twice a day
A really interesting comment came out from a client that's been with me for about three years. His advice was just to look twice a day and that's it. You've gotta carry on with normal things in life, whether it be family, entertainment, recreation, job, whatever it might be. But, it has to be realistic in terms of the time that you can dedicate to your trading. He was saying, "I just look twice a day and that's it."
He looks around 5:00 am New York time, and 5:00 pm New York time. Now, at 5:00 pm New York time, which is the beginning of the new trading day, at the beginning of the week you can look at the weekly charts. Beginning of each day you can look at the daily charts, and also, you can look at the 12 hour, the 8 hour, the 6 hour, the 4 hour, and the 1 hour charts. Put that all together once a day at 5:00 pm New York time. It might take you maybe 20 minutes, 15, 20 minutes to go through all those charts. Very, very easy to scan through and select which trades you'd like to take. And then, at 5:00 am New York time, which is when I hold my live webinars, you can then look at the 1, 4, 6 and 12 charts. That's it.]]>https://theforextradingcoach.com/?p=7957Sun, 16 Sep 2018 21:12:41 +0000Andrew MitchemPodcast: Are you about to quit Forex Trading? In this weekly video: 00:26 – Frustrated trader on live webinar 01:06 –  Less in more 01:50 – No one perfect way of trading 02:24 – Look at your charts twice a day 03:31 – Buy and Sell Limit orders 04:20...
Are you about to quit Forex Trading?
In this weekly video:
00:26 – Frustrated trader on live webinar
01:06 –  Less in more
01:50 – No one perfect way of trading
02:24 – Look at your charts twice a day
03:31 – Buy and Sell Limit orders
04:20 – Be part of a trading community
05:10 – 3 trades made a +1.5% account gain
Are you about to give up Forex Trading that's just not working for you? If that's you, I've got some really important information for you to listen to first before making that decision. Here we go.
Hey traders, Andrew Mitchem here, the Forex Trading coach of video and podcast number 290.
Now, I wanna share with you a story from my live webinar with my clients just last night. Now in that webinar, I had a new client on his first live session with us as the group, and he said to me,
Frustrated trader on live webinar
"Hey, Andrew, I've been trading for eight years, on and off. It's just not working for me. I've joined your course as basically the last ditch effort to make trading work. What's the secret? Can you ask people on the webinar, other clients, what's the secret to making this whole thing work? Why are they successful and I'm not?"
It was really interesting to watch the comments come through from a number of my clients, and a number of them have been with me for many years.
Less in more
There were a range of comments come through, but basically it came down to the less-is-more philosophy, the trade to longer timeframe charts, the be selective with your trading as in don't take B grade setups. Only take the top quality setups. Get to understand the patterns that you're looking for. So, we looked for, basically, two quite distinctive patterns. One's a reversal, one's a continuation. Basically, if you get most of the setup looking exactly as you want, it doesn't matter what the pay or what the timeframe, what the direction is, but if you get that, so often the trades will work out. And why? It's because of probability.
No one perfect way of trading
Now, there is no one perfect way of trading, and different people have different ways of trading, obviously, and that's why the strategy that I use basically combines different bits and pieces of different strategies to get one overall proven strategy that works. Along with that strategy and the patterns that you're looking for, it was about taking those longer timeframe charts. Personally, I wouldn't look at anything less than one hour timeframes. Be selective. Don't worry if you miss trades. You're gonna miss trades. You don't have to be at your computer all the time.
Look at your charts twice a day
A really interesting comment came out from a client that's been with me for about three years. His advice was just to look twice a day and that's it. You've gotta carry on with normal things in life, whether it be family, entertainment, recreation, job, whatever it might be. But, it has to be realistic in terms of the time that you can dedicate to your trading. He was saying, "I just look twice a day and that's it."
He looks around 5:00 am New York time, and 5:00 pm New York time. Now, at 5:00 pm New York time, which is the beginning of the new trading day, at the beginning of the week you can look at the weekly charts. Beginning of each day you can look at the daily charts, and also, you can look at the 12 hour, the 8 hour, the 6 hour, the 4 hour, and the 1 hour charts. Put that all together once a day at 5:00 pm New York time. It might take you maybe 20 minutes, 15, 20 minutes to go through all those charts. Very, very easy to scan through and select which trades you'd like to take. And then, at 5:00 am New York time, which is when I hold my live webinars, you can then look at the 1, 4, 6 and 12 charts. That's it.]]>405falsefullhttps://www.spreaker.com/episode/289-do-the-experts-really-trade--15678127
Do The Experts Really Trade?”
In this weekly video:
00:29 – Experts, are they real traders?
01:18 – Received an email from an expert who has never traded
02:23 – We read the comments and view the sites from the experts.
03:08 – Don’t you want to follow a real trader?
03:48 – We trade live daily
Do the experts really trade? Let's talk about that and more, right now.
Hey, traders, it's Andrew Mitchem here, The Forex Trading Coach, with the video and podcast number 289.
Experts, are they real traders?
Now, I've got a bit of a controversial subject. Now, I want to talk about this, and I want to talk about the subject of do the experts really trade? I'm not knocking anybody on this. I'm not criticising anybody, I'm just stating a fact and an opinion, so please don't think that I'm criticising anybody on this. It's just something that I've observed and I want to share it with you, and it's all about the experts out there. Now, how many people out there who are on TV shows, news channels, write in papers, write online, bankers, brokers, how many of those people who are considered to be experts in the financial and the Forex market, how many of them actually really, honestly trade live and make money from their trading?
Received an email from an expert who has never traded
The reason I want to talk about that is that I've received an email, just this morning. Now, I'm obviously, for privacy reasons, not going to disclose names or companies involved, but this person's looking for help with their trading. Now, the great thing is, they've asked for help, and that's fantastic, and I applaud this guy for coming to me and asking for help. That is really, really good. The interesting thing … and again, before I say this, it's not a criticism, I'm not knocking anybody. The interesting thing is, this guy says on here that, "The truth is, I have never actually traded. I was a broker in London, a corporate dealer at a bank in London," and tells me how he was working there. But he said, "I've never actually traded and I'm trying to find out how to trade," and he said, "I'm trying to cut through all the bullshit that's out there online and you seem the real deal."
So again, that's very commendable that he's admitting that he's never traded, but my point being is that.
We read the comments and view the sites from the experts.
We all see online people out there writing articles. Now, this guy also is an analyst and an editor for a very, very famous and well-respected and excellent Forex website. It got me thinking with, you know, when we see people on the news, on the CNBCs and the Reuters et cetera, the Bloombergs, when we read articles online, when we see articles in newspapers by these experts, how many of them actually really do trade? They write some amazing bits of script, and fundamental analysis, and some technical analysis.
Don’t you want to follow a real trader?
They write some great stuff but the difference is, is that you want to learn how to trade for yourself, so if you want to learn to trade for yourself, why don't you find someone to help you, who actually trades for themselves?
That's where we pride ourselves. We trade daily, we publish daily trades for clients, specific trades, we take trades live on our live webinars on live accounts, we publish and post trades live in real-time on our forum site. There's a huge amount out there that looks great in theory but is very, very difficult to either trade of to make money from in real-time. That's where I think that we're very, very different to a lot of people.
We trade live daily
I'm recording this from my home office. We are real people, real traders, doing the trading, doing what you want to do, so if it's something that you're interested in,]]>https://theforextradingcoach.com/?p=7946Sun, 09 Sep 2018 20:53:17 +0000Andrew MitchemPodcast: Do The Experts Really Trade?” In this weekly video: 00:29 – Experts, are they real traders? 01:18 – Received an email from an expert who has never traded 02:23 – We read the comments and view the sites from the experts. 03:08 – Don’t you...
Do The Experts Really Trade?”
In this weekly video:
00:29 – Experts, are they real traders?
01:18 – Received an email from an expert who has never traded
02:23 – We read the comments and view the sites from the experts.
03:08 – Don’t you want to follow a real trader?
03:48 – We trade live daily
Do the experts really trade? Let's talk about that and more, right now.
Hey, traders, it's Andrew Mitchem here, The Forex Trading Coach, with the video and podcast number 289.
Experts, are they real traders?
Now, I've got a bit of a controversial subject. Now, I want to talk about this, and I want to talk about the subject of do the experts really trade? I'm not knocking anybody on this. I'm not criticising anybody, I'm just stating a fact and an opinion, so please don't think that I'm criticising anybody on this. It's just something that I've observed and I want to share it with you, and it's all about the experts out there. Now, how many people out there who are on TV shows, news channels, write in papers, write online, bankers, brokers, how many of those people who are considered to be experts in the financial and the Forex market, how many of them actually really, honestly trade live and make money from their trading?
Received an email from an expert who has never traded
The reason I want to talk about that is that I've received an email, just this morning. Now, I'm obviously, for privacy reasons, not going to disclose names or companies involved, but this person's looking for help with their trading. Now, the great thing is, they've asked for help, and that's fantastic, and I applaud this guy for coming to me and asking for help. That is really, really good. The interesting thing … and again, before I say this, it's not a criticism, I'm not knocking anybody. The interesting thing is, this guy says on here that, "The truth is, I have never actually traded. I was a broker in London, a corporate dealer at a bank in London," and tells me how he was working there. But he said, "I've never actually traded and I'm trying to find out how to trade," and he said, "I'm trying to cut through all the bullshit that's out there online and you seem the real deal."
So again, that's very commendable that he's admitting that he's never traded, but my point being is that.
We read the comments and view the sites from the experts.
We all see online people out there writing articles. Now, this guy also is an analyst and an editor for a very, very famous and well-respected and excellent Forex website. It got me thinking with, you know, when we see people on the news, on the CNBCs and the Reuters et cetera, the Bloombergs, when we read articles online, when we see articles in newspapers by these experts, how many of them actually really do trade? They write some amazing bits of script, and fundamental analysis, and some technical analysis.
Don’t you want to follow a real trader?
They write some great stuff but the difference is, is that you want to learn how to trade for yourself, so if you want to learn to trade for yourself, why don't you find someone to help you, who actually trades for themselves?
That's where we pride ourselves. We trade daily, we publish daily trades for clients, specific trades, we take trades live on our live webinars on live accounts, we publish and post trades live in real-time on our forum site. There's a huge amount out there that looks great in theory but is very, very difficult to either trade of to make money from in real-time. That's where I think that we're very, very different to a lot of people.
We trade live daily
I'm recording this from my home office. We are real people, real traders, doing the trading, doing what you want to do, so if it's something that you're interested in,]]>275falsefullhttps://www.spreaker.com/episode/288-don-t-go-blaming-the-market--15626403
Don’t go blaming the market
In this weekly video:
00:24 – A lot of disgruntled traders out there
01:35 – If you cannot make money – it’s your problem
02:14 – The 80/20 rule – which are you?
02:54 – The hard sell?
03:50 – If you do want to join us – wow!
You shouldn't blame the market if you are an unsuccessful Forex trader. Let's talk about that and more right now.
Hey Forex traders, Andrew Mitchem, here. The Forex Trading Coach video and podcast number 288.
A lot of disgruntled traders out there
Now, I don't know what's happening out there, maybe it's because we're around two-thirds of the way through the year, but there seems to be a lot of disgruntled people out there in the Forex market.
And this past week I've just had no end of emails from non-clients. All asking about the Forex market, how can you make money, or it's impossible to make money or accusing me of selling unrealistic dreams about being a full-time trader. Or just saying that the Forex market's rigged or the brokers are against you. All these kind of things. They're not making money so it's either their … it seems to be my fault this week. But I'm really not sure what's wrong with some of these thoughts, because it's a real negative and backwards and losing kind of mentality if you're out there. And you're trying to find someone else to blame for your inability to make money as a trader.
But unfortunately, I don't know whether it's a social media thing, but people seem to be really, really good at trying to blame everybody else for their own problems. This is no different actually and I think that we need to be brutally honest about this.
If you cannot make money – it’s your problem
If you can't make money as a trader that's your problem. You can't blame the market, you can't blame me, you can't blame someone else. It's your problem.
 So what are you going to do about it? And that's really what it comes down to, because I kind of, I get these emails quite often, but like I said, right now this time of year, maybe it's the end of August and people realizing that we're only a few months to the end of another year and yet again they've been disappointed with the results. Possibly that's what it is. I'm not sure.
Luckily my own clients are far from that, but it's only non-clients that are writing to me with this.
The 80/20 rule – which are you?
So think about the 80/20 rule, you probably heard about it, it's all over the place. Probably around 80% of the profits are made by 20% of the traders or 80% of the people who don't do anything about not being successful and 20% are the people who go and take action. And rather whingeing they actually do something about it. You got to really sort of think about that and say, "Which side of that do I want to be on?" Am I the person that's going to sit there on Facebook and Twitter and stuff or moan to someone like myself that the markets rigged and they're not making money. Or are you going to be one of the 20% that actually do something about it?
The hard sell?
That's what it comes down to. You see I've been accused by another person this week of putting out the hard sell of this selling my course and things like that. Well, if you want to just think like that and if you want to criticize then go for it, it doesn't bother me. I put a lot of effort into helping people with sort of free webinars, with calculators, with eBooks, etc. A lot of information out there with these weekly videos to try to help people for absolutely nothing. I don't want anything from it, from you for what I put out there at all.
 I take that philosophy of, "Look, if you want to join absolutely great, if you don't absolutely great also," it doesn't bother me. We're doing really well, we've got an amazing group of traders doing very...]]>https://theforextradingcoach.com/?p=7934Sun, 02 Sep 2018 21:00:40 +0000Andrew MitchemPodcast: Don’t go blaming the market In this weekly video: 00:24 – A lot of disgruntled traders out there 01:35 – If you cannot make money – it’s your problem 02:14 – The 80/20 rule – which are you? 02:54 – The hard sell? 03:50 – If you do want to...
Don’t go blaming the market
In this weekly video:
00:24 – A lot of disgruntled traders out there
01:35 – If you cannot make money – it’s your problem
02:14 – The 80/20 rule – which are you?
02:54 – The hard sell?
03:50 – If you do want to join us – wow!
You shouldn't blame the market if you are an unsuccessful Forex trader. Let's talk about that and more right now.
Hey Forex traders, Andrew Mitchem, here. The Forex Trading Coach video and podcast number 288.
A lot of disgruntled traders out there
Now, I don't know what's happening out there, maybe it's because we're around two-thirds of the way through the year, but there seems to be a lot of disgruntled people out there in the Forex market.
And this past week I've just had no end of emails from non-clients. All asking about the Forex market, how can you make money, or it's impossible to make money or accusing me of selling unrealistic dreams about being a full-time trader. Or just saying that the Forex market's rigged or the brokers are against you. All these kind of things. They're not making money so it's either their … it seems to be my fault this week. But I'm really not sure what's wrong with some of these thoughts, because it's a real negative and backwards and losing kind of mentality if you're out there. And you're trying to find someone else to blame for your inability to make money as a trader.
But unfortunately, I don't know whether it's a social media thing, but people seem to be really, really good at trying to blame everybody else for their own problems. This is no different actually and I think that we need to be brutally honest about this.
If you cannot make money – it’s your problem
If you can't make money as a trader that's your problem. You can't blame the market, you can't blame me, you can't blame someone else. It's your problem.
 So what are you going to do about it? And that's really what it comes down to, because I kind of, I get these emails quite often, but like I said, right now this time of year, maybe it's the end of August and people realizing that we're only a few months to the end of another year and yet again they've been disappointed with the results. Possibly that's what it is. I'm not sure.
Luckily my own clients are far from that, but it's only non-clients that are writing to me with this.
The 80/20 rule – which are you?
So think about the 80/20 rule, you probably heard about it, it's all over the place. Probably around 80% of the profits are made by 20% of the traders or 80% of the people who don't do anything about not being successful and 20% are the people who go and take action. And rather whingeing they actually do something about it. You got to really sort of think about that and say, "Which side of that do I want to be on?" Am I the person that's going to sit there on Facebook and Twitter and stuff or moan to someone like myself that the markets rigged and they're not making money. Or are you going to be one of the 20% that actually do something about it?
The hard sell?
That's what it comes down to. You see I've been accused by another person this week of putting out the hard sell of this selling my course and things like that. Well, if you want to just think like that and if you want to criticize then go for it, it doesn't bother me. I put a lot of effort into helping people with sort of free webinars, with calculators, with eBooks, etc. A lot of information out there with these weekly videos to try to help people for absolutely nothing. I don't want anything from it, from you for what I put out there at all.
 I take that philosophy of, "Look, if you want to join absolutely great, if you don't absolutely great also," it doesn't bother me. We're doing really well, we've got an amazing group of traders doing very...]]>314falsefullhttps://www.spreaker.com/episode/287-how-many-indicators-should-you-use--15574436
How many indicators should you use?
In this weekly video:
00:26 – Most traders use indicators incorrectly
01:51 –  Why do you use all of those indicators?
03:26 – Forex indicators and how they can help the trader
04:38 – Pivot points and Support & Resistance levels plotted automatically
05:09 – I don’t like most indicators
06:10 – Don’t clutter your charts
How many indicators should you put on your charts as a Forex trader? Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast 287.
Most traders use indicators incorrectly
We're going to talk about indicators. Most people use indicators in the wrong way, and most people over-clutter their chance with indicators. They cause confusion and when you start you like to see lots of nice arrows and lines and things on your charts because you think that's what you need to put on your charts in order to give yourself an understanding of what's happening in the market. Now, pretty much that's not true, but, unfortunately, that's the process and the journey that most people, including myself when I started, go through as a Forex trader.
You soon start to realize and discover that most indicators out there aren't actually much good. And you'd know if you'd been listening or watching me for many years, that you'd know that I generally say that I'm not a fan of most indicators out there. Lots of reasons why. The confusion side of things, they lag what's already happened. They tell you what's happened in the past. Most indicators don't really give you much of an indication of what's likely to happen. They all sort of make some form of average over what's already happened. Well, that's too late. People get confused with an indicator saying a buy on this timeframe and a sell on that timeframe. So that causes confusion.
Also, when you actually look into the history of most indicators out there, most of them were written well before the mainstream Forex market was even … so that people were using them on MT4 platforms, et cetera. So most of them were written for other markets than the Forex market.
Why do you use all of those indicators?
But then, last week somebody wrote a comment on I think it was YouTube, on one of my posts, and said, "Hey, Andrew. You're always telling us you don't like indicators, yet your charts here are full of indicators. What's going on?" Really easy response and reply to that. Well, I find what I use useful. It's the software that I provide to my clients with my coaching course.
But think about it this way, when you're driving a car and you've been driving for any length of time, you know how fast you're going, pretty much. You can tell what speed you're going, roughly, within a few kilometers. If you've got your lights on, you know you'd need your lights on because it's dark. But there's a light inside on the dashboard telling you that you've got your lights on, or the beams on. There's a light in there telling you when your wipers are on. Well, you can see because it's raining and your wipers are moving. But there's still a light there telling you things like that. There's a line there or a needle, dial, moving up and down with the revs that you're going through. Well, if you're revving with your foot down on the pedal, you can hear that the engine's revving faster or you're going uphill. So you kind of know that.
If you're in a manual car or an automatic car and you're changing gears or it does it for, you kind of know what gear you're in. You're on open road, cruising along as the 100 kilometers an hour, you know you're probably in top gear. But there's something on your car that tells you. Why does it do it? Well, it helps to give you an idea of what's happening.]]>https://theforextradingcoach.com/?p=7921Sun, 26 Aug 2018 21:03:01 +0000Andrew MitchemPodcast: How many indicators should you use? In this weekly video: 00:26 – Most traders use indicators incorrectly 01:51 –  Why do you use all of those indicators? 03:26 – Forex indicators and how they can help the trader 04:38 – Pivot points and...
How many indicators should you use?
In this weekly video:
00:26 – Most traders use indicators incorrectly
01:51 –  Why do you use all of those indicators?
03:26 – Forex indicators and how they can help the trader
04:38 – Pivot points and Support & Resistance levels plotted automatically
05:09 – I don’t like most indicators
06:10 – Don’t clutter your charts
How many indicators should you put on your charts as a Forex trader? Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast 287.
Most traders use indicators incorrectly
We're going to talk about indicators. Most people use indicators in the wrong way, and most people over-clutter their chance with indicators. They cause confusion and when you start you like to see lots of nice arrows and lines and things on your charts because you think that's what you need to put on your charts in order to give yourself an understanding of what's happening in the market. Now, pretty much that's not true, but, unfortunately, that's the process and the journey that most people, including myself when I started, go through as a Forex trader.
You soon start to realize and discover that most indicators out there aren't actually much good. And you'd know if you'd been listening or watching me for many years, that you'd know that I generally say that I'm not a fan of most indicators out there. Lots of reasons why. The confusion side of things, they lag what's already happened. They tell you what's happened in the past. Most indicators don't really give you much of an indication of what's likely to happen. They all sort of make some form of average over what's already happened. Well, that's too late. People get confused with an indicator saying a buy on this timeframe and a sell on that timeframe. So that causes confusion.
Also, when you actually look into the history of most indicators out there, most of them were written well before the mainstream Forex market was even … so that people were using them on MT4 platforms, et cetera. So most of them were written for other markets than the Forex market.
Why do you use all of those indicators?
But then, last week somebody wrote a comment on I think it was YouTube, on one of my posts, and said, "Hey, Andrew. You're always telling us you don't like indicators, yet your charts here are full of indicators. What's going on?" Really easy response and reply to that. Well, I find what I use useful. It's the software that I provide to my clients with my coaching course.
But think about it this way, when you're driving a car and you've been driving for any length of time, you know how fast you're going, pretty much. You can tell what speed you're going, roughly, within a few kilometers. If you've got your lights on, you know you'd need your lights on because it's dark. But there's a light inside on the dashboard telling you that you've got your lights on, or the beams on. There's a light in there telling you when your wipers are on. Well, you can see because it's raining and your wipers are moving. But there's still a light there telling you things like that. There's a line there or a needle, dial, moving up and down with the revs that you're going through. Well, if you're revving with your foot down on the pedal, you can hear that the engine's revving faster or you're going uphill. So you kind of know that.
If you're in a manual car or an automatic car and you're changing gears or it does it for, you kind of know what gear you're in. You're on open road, cruising along as the 100 kilometers an hour, you know you're probably in top gear. But there's something on your car that tells you. Why does it do it? Well, it helps to give you an idea of what's happening.]]>422falsefullhttps://www.spreaker.com/episode/286-why-you-need-patience-to-trade-well--15525925
Why you need patience to trade well
In this weekly video:
00:25 – Good trading is boring
00:50 – Trading examples from this week
01:57 – How do we trade these market conditions?
02:29 – Trading different time frame charts
03:19 – Live trading room webinar and examples shown to clients
04:04 – Don’t just look at one time frame chart
Having patience, as a trader, is one of the keys to your success. Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 286.
Good trading is boring
Now, a statement that I like to make quite often is that good trading is boring. Don't take that the wrong way. Trading is fantastic and it's fascinating. I love it; I've been doing it for years. But good trading is actually boring. You see, you have to have patience, and patience means that you have to be disciplined and wait for the good trade setups.
Now, it's quite hard to do in real time and that's where a lot of people struggle.
Trading examples from this week
But I'll give you an example. In the last six days, I have taken no trades on the daily charts. There were two today, being Friday, but previously to that, for the last six days, I have posted and taken no trades at all on the daily charts.
And that is one of the timeframes that I love trading. And so going forward day after day after day is … you think, "Well, I should be taking something." And as a trader, we kind of feel that we should be taking trades because that's what we feel we're good at; that's what we feel we should do. We feel that we have to force trade sometimes, and it's a very big danger.
The catch is that a lot of traders … Go back and have a look at the daily charts over the last six days, and you'll see that almost all trades have been either big, strong movements down, such as like the euro and the pound, and the kiwi and the Aussie against the US, all been indecision bars … have been very little to take as a new trade for either a continuation trade after a pullback or a reversal.  Been a couple today that look okay, but previous to that, not a great deal has happened.
How do we trade these market conditions?
What do we do about that? Well, first of all, my real job as a Forex trader is to preserve my capital, and that's the important thing. There's no good just taking trades, just for the sake of taking some trades, because ultimately what you're going to do, is probably have more losing trades than winning trades that way. And guaranteed what you are going to do is please your broker because all you're going to be doing is feeding your broker's back pocket by taking the money out of your account unnecessarily, by taking trades that you shouldn't take.
Trading different time frame charts
When I was on my live webinar with my clients last night, we talked about this and thought, "Well, what else do we do? What else can we practically go and do out there?" Well, last week I suggested four trades to my clients based on the weekly charts. All four of them went and hit their profit target. This week, I've taken a buy trade on the US Canadian dollar based on the weekly charts, and again suggested to my clients on Monday. And that trade right now is up about 1.6 to one. So if you'd done nothing else than risked half of one percent on that one trade, and it re-traced beautifully, got in a buy trade, and now it's moved up very, very nicely, it would have made you, right now, as I'm recording this, over 0.8% account return just from that one trade. So there are always opportunities out there.
Live trading room webinar and examples shown to clients
Now on the webinar last night, I also shared with my clients a number of trades that I've tak...]]>https://theforextradingcoach.com/?p=7913Sun, 19 Aug 2018 21:02:04 +0000Andrew MitchemPodcast: Why you need patience to trade well In this weekly video: 00:25 – Good trading is boring 00:50 – Trading examples from this week 01:57 – How do we trade these market conditions? 02:29 – Trading different time frame charts 03:19 – Live...
Why you need patience to trade well
In this weekly video:
00:25 – Good trading is boring
00:50 – Trading examples from this week
01:57 – How do we trade these market conditions?
02:29 – Trading different time frame charts
03:19 – Live trading room webinar and examples shown to clients
04:04 – Don’t just look at one time frame chart
Having patience, as a trader, is one of the keys to your success. Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 286.
Good trading is boring
Now, a statement that I like to make quite often is that good trading is boring. Don't take that the wrong way. Trading is fantastic and it's fascinating. I love it; I've been doing it for years. But good trading is actually boring. You see, you have to have patience, and patience means that you have to be disciplined and wait for the good trade setups.
Now, it's quite hard to do in real time and that's where a lot of people struggle.
Trading examples from this week
But I'll give you an example. In the last six days, I have taken no trades on the daily charts. There were two today, being Friday, but previously to that, for the last six days, I have posted and taken no trades at all on the daily charts.
And that is one of the timeframes that I love trading. And so going forward day after day after day is … you think, "Well, I should be taking something." And as a trader, we kind of feel that we should be taking trades because that's what we feel we're good at; that's what we feel we should do. We feel that we have to force trade sometimes, and it's a very big danger.
The catch is that a lot of traders … Go back and have a look at the daily charts over the last six days, and you'll see that almost all trades have been either big, strong movements down, such as like the euro and the pound, and the kiwi and the Aussie against the US, all been indecision bars … have been very little to take as a new trade for either a continuation trade after a pullback or a reversal.  Been a couple today that look okay, but previous to that, not a great deal has happened.
How do we trade these market conditions?
What do we do about that? Well, first of all, my real job as a Forex trader is to preserve my capital, and that's the important thing. There's no good just taking trades, just for the sake of taking some trades, because ultimately what you're going to do, is probably have more losing trades than winning trades that way. And guaranteed what you are going to do is please your broker because all you're going to be doing is feeding your broker's back pocket by taking the money out of your account unnecessarily, by taking trades that you shouldn't take.
Trading different time frame charts
When I was on my live webinar with my clients last night, we talked about this and thought, "Well, what else do we do? What else can we practically go and do out there?" Well, last week I suggested four trades to my clients based on the weekly charts. All four of them went and hit their profit target. This week, I've taken a buy trade on the US Canadian dollar based on the weekly charts, and again suggested to my clients on Monday. And that trade right now is up about 1.6 to one. So if you'd done nothing else than risked half of one percent on that one trade, and it re-traced beautifully, got in a buy trade, and now it's moved up very, very nicely, it would have made you, right now, as I'm recording this, over 0.8% account return just from that one trade. So there are always opportunities out there.
Live trading room webinar and examples shown to clients
Now on the webinar last night, I also shared with my clients a number of trades that I've tak...]]>350falsefullhttps://www.spreaker.com/episode/285-trading-by-yourself-can-be-dangerous--15477342
Trading by yourself can be dangerous
In this weekly video:
00:39 – The downside of trading by yourself
01:55 –  What can you do to help with this problem?
02:47 – Local trading groups – should you join them?
03:58 – Consistent feedback about our trading community and support
05:08 – Our clients forum site and its value
05:56 – Great technical support and help
06:16 – Weekly live webinars to attend
07:11 – You don’t need to trade alone
I'm going to talk about why trading by yourself can be quite detrimental to your own trading success. Let's get into that and more right now.
Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 285.
And I brought the video outside. Nice spring day here. A blossom behind as you can see. A nice feeling, now we're into August in the southern hemisphere, that spring's just around the corner and looking forward to a great spring and summer time.
The downside of trading by yourself
But back to the trading video. Trading by yourself can be quite dangerous, and really the effects of training by yourself can really turn a lot of people off trading. And a number of reasons why. How many people do you know who actively trade? How many people do you know who actually know what it is that you do when you're talking about trading? How many of you have got a partner or a spouse who really doesn't like you trading?
I had a guy just yesterday emailed me and said, Andrew, can I pay by anything else but credit card? And I said yes, but why? And he said, look, I just don't want my wife to find out that I'm getting into trading. And I've thought about that. I thought that's actually really quite dangerous, because if you don't have the support of people around you, then it can be, not very positive, because you're doing this thing that people think is gambling or you don't know what you're doing or you're being stupid with your money, risking too much, whatever it might be. But that's the perception that people who don't have that knowledge and education about trading get into, and it's not good. And it has a massive, negative effect on your own probability of being successful yourself.
What can you do to help with this problem?
Look, what can you do about this? Well, the obvious one is the online thing, but forums as you know, most forums are pretty much dominated by people who don't know what they're doing. And that's the danger that I've always found with forums myself. They get dominated by those people who think that they want to write a thousand posts in a weekend, look really, really cool, but realistically they're not trading, and they don't understand trading, but they're real quick to put down other people. Generally not a good way of succeeding for you or for learning or having that positive impact on your trading.
And the other thing is also found with forums is that it's so easy for people to, someone types in a new strategy and everybody jumps on that bandwagon and wants to get into that and talk about that new latest thing. And of course, that's not a great way either of trading.
Local trading groups – should you join them?
So the other thing you could do is look for local trading groups near where you live. I tried that years ago, probably 10 plus years ago, and it was a disaster. Nice people, but there was people who, couple who traded Forex and trading all sorts of other things. But there was just basically a group of old men together, who sat in a room and talked technical analysis about what's already happened. I found that I got no benefit from that at all. Because no one really was prepared to give away their real strategy. They all gave me little bits of it and most of it for me wasn't about the Forex market anyway.
The other problem I found,]]>https://theforextradingcoach.com/?p=7900Sun, 12 Aug 2018 20:50:07 +0000Andrew MitchemPodcast: Trading by yourself can be dangerous In this weekly video: 00:39 – The downside of trading by yourself 01:55 –  What can you do to help with this problem? 02:47 – Local trading groups – should you join them? 03:58 – Consistent feedback...
Trading by yourself can be dangerous
In this weekly video:
00:39 – The downside of trading by yourself
01:55 –  What can you do to help with this problem?
02:47 – Local trading groups – should you join them?
03:58 – Consistent feedback about our trading community and support
05:08 – Our clients forum site and its value
05:56 – Great technical support and help
06:16 – Weekly live webinars to attend
07:11 – You don’t need to trade alone
I'm going to talk about why trading by yourself can be quite detrimental to your own trading success. Let's get into that and more right now.
Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 285.
And I brought the video outside. Nice spring day here. A blossom behind as you can see. A nice feeling, now we're into August in the southern hemisphere, that spring's just around the corner and looking forward to a great spring and summer time.
The downside of trading by yourself
But back to the trading video. Trading by yourself can be quite dangerous, and really the effects of training by yourself can really turn a lot of people off trading. And a number of reasons why. How many people do you know who actively trade? How many people do you know who actually know what it is that you do when you're talking about trading? How many of you have got a partner or a spouse who really doesn't like you trading?
I had a guy just yesterday emailed me and said, Andrew, can I pay by anything else but credit card? And I said yes, but why? And he said, look, I just don't want my wife to find out that I'm getting into trading. And I've thought about that. I thought that's actually really quite dangerous, because if you don't have the support of people around you, then it can be, not very positive, because you're doing this thing that people think is gambling or you don't know what you're doing or you're being stupid with your money, risking too much, whatever it might be. But that's the perception that people who don't have that knowledge and education about trading get into, and it's not good. And it has a massive, negative effect on your own probability of being successful yourself.
What can you do to help with this problem?
Look, what can you do about this? Well, the obvious one is the online thing, but forums as you know, most forums are pretty much dominated by people who don't know what they're doing. And that's the danger that I've always found with forums myself. They get dominated by those people who think that they want to write a thousand posts in a weekend, look really, really cool, but realistically they're not trading, and they don't understand trading, but they're real quick to put down other people. Generally not a good way of succeeding for you or for learning or having that positive impact on your trading.
And the other thing is also found with forums is that it's so easy for people to, someone types in a new strategy and everybody jumps on that bandwagon and wants to get into that and talk about that new latest thing. And of course, that's not a great way either of trading.
Local trading groups – should you join them?
So the other thing you could do is look for local trading groups near where you live. I tried that years ago, probably 10 plus years ago, and it was a disaster. Nice people, but there was people who, couple who traded Forex and trading all sorts of other things. But there was just basically a group of old men together, who sat in a room and talked technical analysis about what's already happened. I found that I got no benefit from that at all. Because no one really was prepared to give away their real strategy. They all gave me little bits of it and most of it for me wasn't about the Forex market anyway.
The other problem I found,]]>506falsefullhttps://www.spreaker.com/episode/284-should-you-back-test-your-strategy--15426528
Should you back test your strategy?
In this weekly video:
00:22 – Should I and how do I back test?
01:00 –  Why back testing is beneficial
02:02 – Live testing can be very slow
03:08 – How do you back test a strategy?
04:02 – Other benefits of back testing
04:40 – Good back testing is very beneficial
Is it beneficial to back test your forex strategy? Let's talk about that and more right now.
Hi traders. Andrew Mitchem here, the Forex Trading Coach of video and podcast number 284.
Should I and how do I back test?
Now I get a lot of questions about back testing and people will say, "Hey Andrew, should I back test? How do I do it? What's the best way of doing it? Is it a waste of time?" All those kind of things. And I suppose it depends on who you talk to, depending on what answer you get. But my opinion is that back testing is very, very important and I strongly encourage clients to do that.
A number of reasons why. But it's also important to understand that you have to do good, thorough back testing. You know, not just be a bit blasé about it. It had to be very thorough in order to get the best amount of information from that.
Why back testing is beneficial
And what I love about it, as someone who does a lot of manual trading, is that it encourages you to look for patterns, and it also trains your eye for looking for patterns, without that real life pressure of trading right now.
The downside with forward testing as in like learning something, whether it even be on a demo, but learning it live is, it's very emotional, very psychological, sort of, not so much damaging, but you know, it can affect your trade decision by having something happening right now live in the market, but also it's very, very slow. And it's also highly dependent on what the conditions are right now.
So I'm filming this. We are August, traditionally a very, very slow month. July was typically slow, like July is most years. Northern hemisphere, summer holidays, vacations, etc. And probably expecting much the same to happen in August.
Live testing can be very slow
So live testing now for the next month may not give me that full appreciation and that full understanding of what my strategy, if I'm learning a new strategy, could be like.
However, back testing can give you some really good information. But like a lot of things, practice is okay, but bad practice is not good. Good practice is good, if you get what I mean there. Because you know you can just keep doing the same old thing, same old thing, but if you're making mistakes with that, that's not great. But really good thorough practice I believe is very, very good.
Because it helps you to gain confidence within your strategy. And if you can see a strategy or a pattern, whatever it is that you're looking for, work historically well throughout month by month, year by year. That has to give you that confidence that you need to trade that strategy live in real time, when it's very, very slow. Because you know, you're going to wait day after day.
How do you back test a strategy?
So how do you go about doing this and what can you get from it? Well, there's a number of ways you can go about doing it. But the best thing is to either buy some back testing software, or download good historical data from your broker and go through it very thoroughly looking for the patterns that you're looking for, looking at the price levels.
But be careful if your strategy uses too many indicators because a lot of indicators look different when you're looking at them in hindsight in historical information than they do live, because most indicators are moving throughout the formation of a candle. However, that doesn't affect me and my strategy because I only ever look for a trade setup upon the completion...]]>https://theforextradingcoach.com/?p=7892Sun, 05 Aug 2018 21:00:18 +0000Andrew MitchemPodcast: Should you back test your strategy? In this weekly video: 00:22 – Should I and how do I back test? 01:00 –  Why back testing is beneficial 02:02 – Live testing can be very slow 03:08 – How do you back test a strategy? 04:02 – Other benefits...
Should you back test your strategy?
In this weekly video:
00:22 – Should I and how do I back test?
01:00 –  Why back testing is beneficial
02:02 – Live testing can be very slow
03:08 – How do you back test a strategy?
04:02 – Other benefits of back testing
04:40 – Good back testing is very beneficial
Is it beneficial to back test your forex strategy? Let's talk about that and more right now.
Hi traders. Andrew Mitchem here, the Forex Trading Coach of video and podcast number 284.
Should I and how do I back test?
Now I get a lot of questions about back testing and people will say, "Hey Andrew, should I back test? How do I do it? What's the best way of doing it? Is it a waste of time?" All those kind of things. And I suppose it depends on who you talk to, depending on what answer you get. But my opinion is that back testing is very, very important and I strongly encourage clients to do that.
A number of reasons why. But it's also important to understand that you have to do good, thorough back testing. You know, not just be a bit blasé about it. It had to be very thorough in order to get the best amount of information from that.
Why back testing is beneficial
And what I love about it, as someone who does a lot of manual trading, is that it encourages you to look for patterns, and it also trains your eye for looking for patterns, without that real life pressure of trading right now.
The downside with forward testing as in like learning something, whether it even be on a demo, but learning it live is, it's very emotional, very psychological, sort of, not so much damaging, but you know, it can affect your trade decision by having something happening right now live in the market, but also it's very, very slow. And it's also highly dependent on what the conditions are right now.
So I'm filming this. We are August, traditionally a very, very slow month. July was typically slow, like July is most years. Northern hemisphere, summer holidays, vacations, etc. And probably expecting much the same to happen in August.
Live testing can be very slow
So live testing now for the next month may not give me that full appreciation and that full understanding of what my strategy, if I'm learning a new strategy, could be like.
However, back testing can give you some really good information. But like a lot of things, practice is okay, but bad practice is not good. Good practice is good, if you get what I mean there. Because you know you can just keep doing the same old thing, same old thing, but if you're making mistakes with that, that's not great. But really good thorough practice I believe is very, very good.
Because it helps you to gain confidence within your strategy. And if you can see a strategy or a pattern, whatever it is that you're looking for, work historically well throughout month by month, year by year. That has to give you that confidence that you need to trade that strategy live in real time, when it's very, very slow. Because you know, you're going to wait day after day.
How do you back test a strategy?
So how do you go about doing this and what can you get from it? Well, there's a number of ways you can go about doing it. But the best thing is to either buy some back testing software, or download good historical data from your broker and go through it very thoroughly looking for the patterns that you're looking for, looking at the price levels.
But be careful if your strategy uses too many indicators because a lot of indicators look different when you're looking at them in hindsight in historical information than they do live, because most indicators are moving throughout the formation of a candle. However, that doesn't affect me and my strategy because I only ever look for a trade setup upon the completion...]]>359falsefullhttps://www.spreaker.com/episode/283-what-are-your-plans-to-forex-success--15352322
What are your plans to Forex success
In this weekly video:
00:25 – Assessing your trading year so far
01:08 – Most traders don’t really know what they are doing
02:13 – Be careful relying on social media
02:40 – Seeking specialist education and coaching
03:35 – Getting the hours of practical experience under your belt
04:25 – A real strategy that works well
05:27 – What are you going to change?
What are your plans for your Forex trading success? Do you have any? So 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 283.
Assessing your trading year so far
Now, last week I talked about assessing your midyear point, where we're into July. We've gone way past halfway through the year of 2018, and how are your trades going? What is your performance? Are you doing well or not well? The feedback was quite amazing. The overwhelming majority of people wrote to me and said, "Look, I'm just not making anything. It's not working. I'm struggling. How can you help?"
So it got me thinking. And it's like if you're in that situation, what are you doing about that to try and change things? Because obviously, like the phrase goes, kind of, if you don't change things, the results will stay the same. It's really about what are you doing.
Most traders don’t really know what they are doing
The feeling that I had from a lot of the emails that came through were that people, mostly they don't know what they're doing. That seems to be the biggest common mistake. People think they want to get into trading. They suddenly want to become a full-time trader. They don't really have a proven strategy, and so they're trying to sort of make up something, conjure up something from a combination of forums and YouTube videos and all those type of things.
You see, the reality is that trading by yourself, if you don't know what you're doing, can be a real lonely business. You'll sit there sort of reading these latest posts, adding this indicator, chopping and changing things, and it really does become a bit of a mess, to be honest. Most people don't understand money management properly. They don't understand reward-to-risk properly. They don't really know what timeframe or what kind of strategy they want to trade. Who do they go and seek for help and advice? So you can see it's just a big mess there, and I get the feeling that the vast majority of retail Forex traders are in that position.
Be careful relying on social media
Look, I put videos on YouTube, and I make them helpful videos, but unfortunately, with forums and YouTube and other social media, is that the vast majority is full of rubbish really. Think about it this way. If you wanted to become a doctor or a builder or a sports professional, are you really going to learn how to do that by watching some free videos on YouTube?
Seeking specialist education and coaching
It's not likely to happen, is it? So, what do those people do? Well, they seek education. They seek advice and specialist coaching and help to make themselves better.
I'm learning to play squash, and I've mentioned it a few times, I fly a helicopter. When I learned the helicopter flying and now when I'm learning to play squash, yes, there's some useful information online, absolutely there is. I'm not knocking it. There is some very, very useful information, but the reality is you need to get out there and do it practically. I can't learn to become an A-grade squash player by watching it on my computer behind me. I have to be on the court learning how to do things, learning how to hold the racket, address the racket, address the ball, foot placement, all those type of things.
It's the same if you want to be a doctor, builder,]]>https://theforextradingcoach.com/?p=7879Sun, 29 Jul 2018 12:35:30 +0000Andrew MitchemPodcast: What are your plans to Forex success In this weekly video: 00:25 – Assessing your trading year so far 01:08 – Most traders don’t really know what they are doing 02:13 – Be careful relying on social media 02:40 – Seeking specialist education...
What are your plans to Forex success
In this weekly video:
00:25 – Assessing your trading year so far
01:08 – Most traders don’t really know what they are doing
02:13 – Be careful relying on social media
02:40 – Seeking specialist education and coaching
03:35 – Getting the hours of practical experience under your belt
04:25 – A real strategy that works well
05:27 – What are you going to change?
What are your plans for your Forex trading success? Do you have any? So 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 283.
Assessing your trading year so far
Now, last week I talked about assessing your midyear point, where we're into July. We've gone way past halfway through the year of 2018, and how are your trades going? What is your performance? Are you doing well or not well? The feedback was quite amazing. The overwhelming majority of people wrote to me and said, "Look, I'm just not making anything. It's not working. I'm struggling. How can you help?"
So it got me thinking. And it's like if you're in that situation, what are you doing about that to try and change things? Because obviously, like the phrase goes, kind of, if you don't change things, the results will stay the same. It's really about what are you doing.
Most traders don’t really know what they are doing
The feeling that I had from a lot of the emails that came through were that people, mostly they don't know what they're doing. That seems to be the biggest common mistake. People think they want to get into trading. They suddenly want to become a full-time trader. They don't really have a proven strategy, and so they're trying to sort of make up something, conjure up something from a combination of forums and YouTube videos and all those type of things.
You see, the reality is that trading by yourself, if you don't know what you're doing, can be a real lonely business. You'll sit there sort of reading these latest posts, adding this indicator, chopping and changing things, and it really does become a bit of a mess, to be honest. Most people don't understand money management properly. They don't understand reward-to-risk properly. They don't really know what timeframe or what kind of strategy they want to trade. Who do they go and seek for help and advice? So you can see it's just a big mess there, and I get the feeling that the vast majority of retail Forex traders are in that position.
Be careful relying on social media
Look, I put videos on YouTube, and I make them helpful videos, but unfortunately, with forums and YouTube and other social media, is that the vast majority is full of rubbish really. Think about it this way. If you wanted to become a doctor or a builder or a sports professional, are you really going to learn how to do that by watching some free videos on YouTube?
Seeking specialist education and coaching
It's not likely to happen, is it? So, what do those people do? Well, they seek education. They seek advice and specialist coaching and help to make themselves better.
I'm learning to play squash, and I've mentioned it a few times, I fly a helicopter. When I learned the helicopter flying and now when I'm learning to play squash, yes, there's some useful information online, absolutely there is. I'm not knocking it. There is some very, very useful information, but the reality is you need to get out there and do it practically. I can't learn to become an A-grade squash player by watching it on my computer behind me. I have to be on the court learning how to do things, learning how to hold the racket, address the racket, address the ball, foot placement, all those type of things.
It's the same if you want to be a doctor, builder,]]>390falsefullhttps://www.spreaker.com/episode/282-how-s-your-trading-going-so-far-this-year--15305513
How’s your trading going so far this year?
In this weekly video:
00:25 – Mid way through July – how are your results?
01:09 –  Tough trading year in 2018
01:34 – Trades from my live webinars – success on the H8 charts
03:15 – Trading the same way for 12+ years so it’s well proven
04:39 – Automated trade copier service producing amazing results
05:50 – Assess your trading results – Summary
How's your trading going this year? Have you assessed it yet overall? Is it going good? Is it going not so good? Let's talk about that and more right now.
Hey Forex traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast number 282.
Mid way through July – how are your results?
So we're now midway through July. I think it's quite a good time to assess how your year is going so far. Have you had a good year so far? Have you got to about a break even stage? Are you losing? How's it going? How are you finding the conditions? It's quite a nice time of year to be reflecting on what's happened; we're sort of … We've passed the six months, full six months through the year. If things aren't going quite so well, it's now time to do something about that before all of a sudden we find ourselves from July now through to suddenly it will be Christmas time again and another year's gone. So it's important that you do something about it right now if you're trading's not going so well.
Tough trading year in 2018
Now I read a report on Forex Factory just yesterday morning and it was talking about how the 2018 year has been quite a difficult trading year for a lot of the larger financial institutions. So it's really interesting to see that those guys with a lot of their traditional ways of trading are finding things quite difficult. That was an article on Forex Factory.
Trades from my live webinars – success on the H8 charts
It's also interesting that every time I hold a live webinar, I'm putting the webinar together and I'm looking at trades that I've taken myself over the last week or clients have posted either on our forum site or emailed through to me and it's really interesting that when we trade a variety of different timeframe charts we find that for whatever reason, and I don't know the answer I can't explain why, but different timeframes seem to be producing better trade setups depending on the market conditions at that time.
As an example: I use some software that I've had created that allows me to trade eight hour charts on the standard MT4 account, which is not a normal timeframe that you can trade on MT4. This week, we've had an enormous amount of very high quality trade setups on the eight hour charts. When I held my webinar previously, the six hour charts showed really good setups. But I went through the six hour charts before presenting the webinar with the benefit of hindsight and could only find about three really good trade setups for the week, not many. However, we did have one six hour chart trade that I took on the webinar, but there were only three previously to that. Whereas the eight hour charts I think I had around 15 trade setups. Not all of them I took myself because of the time of day and night et cetera when the eight hours change over, but I took a lot of them myself and the others other people had taken themselves and posted.
So there were an enormous amount of good trade setups on the eight hour charts this week. Why the eight hour charts work? Who knows? Can't explain it.
Trading the same way for 12+ years so it’s well proven
But what it does mean though is that when you trade the same strategy that we trade in, we teach … And bear in mind I've been trading this same strategy for 12 plus years, been teaching it for nine plus years now, the beauty is that it's a proven strategy across all market conditions....]]>https://theforextradingcoach.com/?p=7867Sun, 22 Jul 2018 13:47:24 +0000Andrew MitchemPodcast: How’s your trading going so far this year? In this weekly video: 00:25 – Mid way through July – how are your results? 01:09 –  Tough trading year in 2018 01:34 – Trades from my live webinars – success on the H8 charts 03:15 – Trading the...
How’s your trading going so far this year?
In this weekly video:
00:25 – Mid way through July – how are your results?
01:09 –  Tough trading year in 2018
01:34 – Trades from my live webinars – success on the H8 charts
03:15 – Trading the same way for 12+ years so it’s well proven
04:39 – Automated trade copier service producing amazing results
05:50 – Assess your trading results – Summary
How's your trading going this year? Have you assessed it yet overall? Is it going good? Is it going not so good? Let's talk about that and more right now.
Hey Forex traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast number 282.
Mid way through July – how are your results?
So we're now midway through July. I think it's quite a good time to assess how your year is going so far. Have you had a good year so far? Have you got to about a break even stage? Are you losing? How's it going? How are you finding the conditions? It's quite a nice time of year to be reflecting on what's happened; we're sort of … We've passed the six months, full six months through the year. If things aren't going quite so well, it's now time to do something about that before all of a sudden we find ourselves from July now through to suddenly it will be Christmas time again and another year's gone. So it's important that you do something about it right now if you're trading's not going so well.
Tough trading year in 2018
Now I read a report on Forex Factory just yesterday morning and it was talking about how the 2018 year has been quite a difficult trading year for a lot of the larger financial institutions. So it's really interesting to see that those guys with a lot of their traditional ways of trading are finding things quite difficult. That was an article on Forex Factory.
Trades from my live webinars – success on the H8 charts
It's also interesting that every time I hold a live webinar, I'm putting the webinar together and I'm looking at trades that I've taken myself over the last week or clients have posted either on our forum site or emailed through to me and it's really interesting that when we trade a variety of different timeframe charts we find that for whatever reason, and I don't know the answer I can't explain why, but different timeframes seem to be producing better trade setups depending on the market conditions at that time.
As an example: I use some software that I've had created that allows me to trade eight hour charts on the standard MT4 account, which is not a normal timeframe that you can trade on MT4. This week, we've had an enormous amount of very high quality trade setups on the eight hour charts. When I held my webinar previously, the six hour charts showed really good setups. But I went through the six hour charts before presenting the webinar with the benefit of hindsight and could only find about three really good trade setups for the week, not many. However, we did have one six hour chart trade that I took on the webinar, but there were only three previously to that. Whereas the eight hour charts I think I had around 15 trade setups. Not all of them I took myself because of the time of day and night et cetera when the eight hours change over, but I took a lot of them myself and the others other people had taken themselves and posted.
So there were an enormous amount of good trade setups on the eight hour charts this week. Why the eight hour charts work? Who knows? Can't explain it.
Trading the same way for 12+ years so it’s well proven
But what it does mean though is that when you trade the same strategy that we trade in, we teach … And bear in mind I've been trading this same strategy for 12 plus years, been teaching it for nine plus years now, the beauty is that it's a proven strategy across all market conditions....]]>409falsefullhttps://www.spreaker.com/episode/281-the-roller-coaster-ride-when-you-trade-forex--15259406
The roller coaster ride when you trade Forex
In this weekly video:
00:25 – The ups and downs of trading Forex
00:55 – 90-95% of traders lose money
01:25 – Why you should seek good quality education
02:30 – An interesting graph describes the traders journey
03:45 – It took me 4 years to become successful but I can short cut that time for you
Want to talk about the swings and cycles involved with what happens to a new forex trader. So let's talk about that and more right now.
Hi, forex traders. Andrew Mitchem here, the Forex Trading Coach with video and podcast #281.
The ups and downs of trading Forex
Now I've had a client of me called Sean from Australia who wrote a post on our client's forum site this week, and it's up behind me here. I'm not sure if you can see it, but it's a graph showing Sean's performance over the last 12 months and his 700 trades taken live since he joined my forex coaching course. The good news is that right now he's in some great profit. He's up almost 70%.
90-95% of traders lose money
Now just taking back a step. Last week I mentioned the commonly known figure and accepted figure that somewhere between 90% to 95% of all forex traders lose money. And why is that? Well, so many people give up too early, they risk too much, they blame someone else, they blame the market, they blame the broker. You know, "It's too hard, it's not working straight away for me"—all those kind of things. And you may well have experienced those same kind of thoughts and emotions yourself.
Why you should seek good quality education
But the good thing is, is when you see good quality education it can definitely assist you and change your trading around. Now I am not saying that by taking my course, and despite it having a five-star rating and helping thousands of traders for more than nine-and-a-half years, it is not a get-rich-quick scheme. It is not some magic pill that Andrew's suddenly gonna give you this magic formula to suddenly change your financial world situation around. It still requires some hard work.
Now why am I telling you this? Because I could go and say, "Take my course and you will suddenly become a multimillionaire." But the thing is, the reason why we're still operating so successfully after nine-plus years is we tell the truth. I'm here recording this at home in my office with my charts behind me here. We are real traders. I'm a fund manager and I have a trade copier service and I'm a forex educator and a trader. And we tell the truth. So that's what I'm gonna tell you. It is still not easy, even if you take my course. And with our help, things can certainly would done.
An interesting graph describes the traders journey
So the graph behind me here that Sean sent and posted on the membership site, on the forum site, it's quite interesting. I'll run you through it if you can't see it. He started off with an absolute hiss and roar. Trades were fantastic and he was making lots of money. I think he was up about 30% after the first, let's say, hundred trades.
He then stalled a little bit, and then he said in his own words that he thought he knew everything. He started adding a bigger risk, bigger position sizes, taking more trades. And guess what. He then gave most of it back again. So his curve started going really well, it stalled a little bit, and then it came back, almost back to break even.
It then stalled a bit longer. Why did it stall? Well, he was then going back to lower risk and working things out, seeking our help. And now over the last couple of hundred trades it's then gone way up past the original peak, and now it's up almost 70% in the first 12 months. On a live account this is.
So it's pretty outstanding, but it's also a good lesson, that things are not as simple as most other people o...]]>https://theforextradingcoach.com/?p=7857Sun, 15 Jul 2018 11:00:16 +0000Andrew MitchemPodcast: The roller coaster ride when you trade Forex In this weekly video: 00:25 – The ups and downs of trading Forex 00:55 – 90-95% of traders lose money 01:25 – Why you should seek good quality education 02:30 – An interesting graph describes the...
The roller coaster ride when you trade Forex
In this weekly video:
00:25 – The ups and downs of trading Forex
00:55 – 90-95% of traders lose money
01:25 – Why you should seek good quality education
02:30 – An interesting graph describes the traders journey
03:45 – It took me 4 years to become successful but I can short cut that time for you
Want to talk about the swings and cycles involved with what happens to a new forex trader. So let's talk about that and more right now.
Hi, forex traders. Andrew Mitchem here, the Forex Trading Coach with video and podcast #281.
The ups and downs of trading Forex
Now I've had a client of me called Sean from Australia who wrote a post on our client's forum site this week, and it's up behind me here. I'm not sure if you can see it, but it's a graph showing Sean's performance over the last 12 months and his 700 trades taken live since he joined my forex coaching course. The good news is that right now he's in some great profit. He's up almost 70%.
90-95% of traders lose money
Now just taking back a step. Last week I mentioned the commonly known figure and accepted figure that somewhere between 90% to 95% of all forex traders lose money. And why is that? Well, so many people give up too early, they risk too much, they blame someone else, they blame the market, they blame the broker. You know, "It's too hard, it's not working straight away for me"—all those kind of things. And you may well have experienced those same kind of thoughts and emotions yourself.
Why you should seek good quality education
But the good thing is, is when you see good quality education it can definitely assist you and change your trading around. Now I am not saying that by taking my course, and despite it having a five-star rating and helping thousands of traders for more than nine-and-a-half years, it is not a get-rich-quick scheme. It is not some magic pill that Andrew's suddenly gonna give you this magic formula to suddenly change your financial world situation around. It still requires some hard work.
Now why am I telling you this? Because I could go and say, "Take my course and you will suddenly become a multimillionaire." But the thing is, the reason why we're still operating so successfully after nine-plus years is we tell the truth. I'm here recording this at home in my office with my charts behind me here. We are real traders. I'm a fund manager and I have a trade copier service and I'm a forex educator and a trader. And we tell the truth. So that's what I'm gonna tell you. It is still not easy, even if you take my course. And with our help, things can certainly would done.
An interesting graph describes the traders journey
So the graph behind me here that Sean sent and posted on the membership site, on the forum site, it's quite interesting. I'll run you through it if you can't see it. He started off with an absolute hiss and roar. Trades were fantastic and he was making lots of money. I think he was up about 30% after the first, let's say, hundred trades.
He then stalled a little bit, and then he said in his own words that he thought he knew everything. He started adding a bigger risk, bigger position sizes, taking more trades. And guess what. He then gave most of it back again. So his curve started going really well, it stalled a little bit, and then it came back, almost back to break even.
It then stalled a bit longer. Why did it stall? Well, he was then going back to lower risk and working things out, seeking our help. And now over the last couple of hundred trades it's then gone way up past the original peak, and now it's up almost 70% in the first 12 months. On a live account this is.
So it's pretty outstanding, but it's also a good lesson, that things are not as simple as most other people o...]]>374falsefullhttps://www.spreaker.com/episode/280-your-profit-is-not-everything--15214323
Your Profit Is Not Everything
In this weekly video:
00:29 – Profit is not the most important number
01:15 – Real examples – with a 421% return
02:17 – Trade Copier at +20% gain in 6 months
03:30 – A massive drawdown
04:15 – Look at the bigger picture
I'm going to talk about why the profit you make as a Forex trader is not the most important number. Sounds interesting. Let's talk about that and more right now.
Hey Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Video and podcast number 280.
Profit is not the most important number
And it's a bit of an odd discussion. Why is the profit that you make not the most important number as a trader especially when so many people don't make money or don't make a profit through Forex trading? You've all heard the stats, 90, 95% of people fail to make money. So, why is it then that I'm saying, well, those who are profitable, it's not the most important thing to know that I've made so much money per year. Because here's the problem, for the people who don't make money, it's very easy to criticise the people who do make money. It's the whole social media hide behind the screen type of thing, and it just happens all the time, and I get it consistently.
Real examples – with a 421% return
I'd like to share with you a few examples, two from myself and one from another company. So, with my own example. If you had started following my daily trading suggestions with a $100,000 account back in 2011, and today, that account would be, with compounding, $521,000. So, it's a $421,000 profit that you've made on your original 100,000 in seven and a bit years. Now, that works out at a 60, six, zero percent return per year on average on your original funds. Quite an outstanding figure for something that all you need to do is copy what I'm putting on the membership site each day at half a percent risk per trade.
So, that becomes part of the equation, the half percent risk per trade to make 60. So, that's one example. So, I think that's a very outstanding figure considering it's just one time frame, five minutes work, once a day.
Trade Copier at +20% gain in 6 months
The other example is this. My trade copier which is running on the combination of trading robots that I've created myself. So, so far, in just over six months, it's up plus 20% right now. And again, it's quite an outstanding figure considering the drawdown is very low and the risk per trade is very low, but a lot of people don't see that as exciting. And I had a discussion with somebody this week, and he was saying, "Look, here's another trade copier service and it's made 200% so far this year, and we're only at the beginning of July." And I said, "Very good. That's outstanding. Why don't you go and join it?" Because he said that my 20% wasn't good enough.
Now, the thing here is that the company that was selling the 200% profit in six completed months to this guy sounded outstanding, and to most people it would sound outstanding too. The problem is, is that when I actually pointed out that the drawdown had been over 81%, I don't think he quite understood the importance of that. Think about it this way.
A massive drawdown
You have $100,000 there. Let's say you've got that drawdown right at the very beginning when you joined. Would you really want your $100,000 to be worth $19,000? Think about it.
So, yes a 200% return in six months sounded amazing, but an 80% drawdown is not realistic, in terms of, do you really want that? So, maybe the 20% return is actually not too bad after all, or the daily trades worth 60% return, considering we're controlling risk and our drawdowns are small. So, that's the message of this video on podcasts.
Look at the bigger picture
Just always look at the bigger picture.]]>https://theforextradingcoach.com/?p=7848Sun, 08 Jul 2018 14:32:36 +0000Andrew MitchemPodcast: Your Profit Is Not Everything In this weekly video: 00:29 – Profit is not the most important number 01:15 – Real examples – with a 421% return 02:17 – Trade Copier at +20% gain in 6 months 03:30 – A massive drawdown 04:15 – Look at the...
Your Profit Is Not Everything
In this weekly video:
00:29 – Profit is not the most important number
01:15 – Real examples – with a 421% return
02:17 – Trade Copier at +20% gain in 6 months
03:30 – A massive drawdown
04:15 – Look at the bigger picture
I'm going to talk about why the profit you make as a Forex trader is not the most important number. Sounds interesting. Let's talk about that and more right now.
Hey Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Video and podcast number 280.
Profit is not the most important number
And it's a bit of an odd discussion. Why is the profit that you make not the most important number as a trader especially when so many people don't make money or don't make a profit through Forex trading? You've all heard the stats, 90, 95% of people fail to make money. So, why is it then that I'm saying, well, those who are profitable, it's not the most important thing to know that I've made so much money per year. Because here's the problem, for the people who don't make money, it's very easy to criticise the people who do make money. It's the whole social media hide behind the screen type of thing, and it just happens all the time, and I get it consistently.
Real examples – with a 421% return
I'd like to share with you a few examples, two from myself and one from another company. So, with my own example. If you had started following my daily trading suggestions with a $100,000 account back in 2011, and today, that account would be, with compounding, $521,000. So, it's a $421,000 profit that you've made on your original 100,000 in seven and a bit years. Now, that works out at a 60, six, zero percent return per year on average on your original funds. Quite an outstanding figure for something that all you need to do is copy what I'm putting on the membership site each day at half a percent risk per trade.
So, that becomes part of the equation, the half percent risk per trade to make 60. So, that's one example. So, I think that's a very outstanding figure considering it's just one time frame, five minutes work, once a day.
Trade Copier at +20% gain in 6 months
The other example is this. My trade copier which is running on the combination of trading robots that I've created myself. So, so far, in just over six months, it's up plus 20% right now. And again, it's quite an outstanding figure considering the drawdown is very low and the risk per trade is very low, but a lot of people don't see that as exciting. And I had a discussion with somebody this week, and he was saying, "Look, here's another trade copier service and it's made 200% so far this year, and we're only at the beginning of July." And I said, "Very good. That's outstanding. Why don't you go and join it?" Because he said that my 20% wasn't good enough.
Now, the thing here is that the company that was selling the 200% profit in six completed months to this guy sounded outstanding, and to most people it would sound outstanding too. The problem is, is that when I actually pointed out that the drawdown had been over 81%, I don't think he quite understood the importance of that. Think about it this way.
A massive drawdown
You have $100,000 there. Let's say you've got that drawdown right at the very beginning when you joined. Would you really want your $100,000 to be worth $19,000? Think about it.
So, yes a 200% return in six months sounded amazing, but an 80% drawdown is not realistic, in terms of, do you really want that? So, maybe the 20% return is actually not too bad after all, or the daily trades worth 60% return, considering we're controlling risk and our drawdowns are small. So, that's the message of this video on podcasts.
Look at the bigger picture
Just always look at the bigger picture.]]>305falsefullhttps://www.spreaker.com/episode/279-price-action-is-king--15171609
Price Action is King
In this weekly video:
00:24 – How price action trading can help you
01:25 –  A handful of candle patterns and shapes that work
01:55 – Assess a candle only once it has closed
03:00 – A confluence of events
04:12 – The close of a candle
05:17 – Understanding price action is so important
Price action is king. It really will help you with your trading success. Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach video and podcast number 279.
How price action trading can help you
And I want to talk all about the power of price action trading and how it can really help you to become a profitable Forex trader.
There's a number of things that you need to understand. Price action is key, and it's understanding what part of the chart we're in right now. It's understanding a few technical base things such as understanding a handful of useful candle shapes and patterns. It's also understanding what context of the chart we're in. Are we in areas buying into likely resistance? Are we in areas selling into likely support? Are we at areas we might find struggle to break through either higher or lower? What's happened prior to the price action that we're in right now? Are we in a big downtrend and maybe that formed a support level? However, we could also have a big downtrend and a pullback, and then looking for the opportunity to go short again.
A handful of candle patterns and shapes that work
When it comes to candle patterns and shapes, there are handful that I use and I teach in my coaching course. Now, you can go online and find all number of candle patterns and candle shapes, but I found that realistically, there's only about five that are really useful, and it's not so much about looking at like the set of overall pattern in terms of wedges and triangles. To me, it's more about the understanding the individual candle that is just closed.
Assess a candle only once it has closed
Because a practical way of trading is to assess what's happened once a candle has closed. Why is that practical? Well, a number of ways. If we have some previous indecision, and let's say we've had a downtrend, and then some previous indecision, and then a potential reversal candle. That's telling me that already, after a downtrend, we've seen some indecision in the market, and now we're getting confirmation that we might be seeing a pullback. It could be a complete reversal. It could just be a temporary pullback, but it's telling me by looking at just not only the candle that just closed, but also the previous one and the previous trend.
It's giving me an idea of what's happened, but you can't just use that by itself. You have to use a number of other factors. You have to use the bigger picture trend. Maybe that bigger picture is we're already currently in a trend, so do I want to take that buy trade against the trend, or do I just want to accept that we made … not be seeing a retracement, and then I'm going to wait for that selling opportunity to sell with the bigger trend? There's a number of factors that you need to add into this.
A confluence of events
So you need a confluence of events. You need to add more things than just purely the candle itself. What part of the chart is it in? What is the price that it's at? Has it stored and bounced at a level that may previously have bounced back in the past whether that'd be a number of hours, or days, or weeks, or months away? It's all on … and that depends on what timeframe chart you are trading.
The other benefit of looking at a candle at the close of it as candle is that you know exactly when you need to be at your charts. You see, to me, there's nothing worse than talking to traders and especially new traders who just say,]]>https://theforextradingcoach.com/?p=7835Sun, 01 Jul 2018 21:09:31 +0000Andrew MitchemPodcast: Price Action is King In this weekly video: 00:24 – How price action trading can help you 01:25 –  A handful of candle patterns and shapes that work 01:55 – Assess a candle only once it has closed 03:00 – A confluence of events 04:12 – The...
Price Action is King
In this weekly video:
00:24 – How price action trading can help you
01:25 –  A handful of candle patterns and shapes that work
01:55 – Assess a candle only once it has closed
03:00 – A confluence of events
04:12 – The close of a candle
05:17 – Understanding price action is so important
Price action is king. It really will help you with your trading success. Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach video and podcast number 279.
How price action trading can help you
And I want to talk all about the power of price action trading and how it can really help you to become a profitable Forex trader.
There's a number of things that you need to understand. Price action is key, and it's understanding what part of the chart we're in right now. It's understanding a few technical base things such as understanding a handful of useful candle shapes and patterns. It's also understanding what context of the chart we're in. Are we in areas buying into likely resistance? Are we in areas selling into likely support? Are we at areas we might find struggle to break through either higher or lower? What's happened prior to the price action that we're in right now? Are we in a big downtrend and maybe that formed a support level? However, we could also have a big downtrend and a pullback, and then looking for the opportunity to go short again.
A handful of candle patterns and shapes that work
When it comes to candle patterns and shapes, there are handful that I use and I teach in my coaching course. Now, you can go online and find all number of candle patterns and candle shapes, but I found that realistically, there's only about five that are really useful, and it's not so much about looking at like the set of overall pattern in terms of wedges and triangles. To me, it's more about the understanding the individual candle that is just closed.
Assess a candle only once it has closed
Because a practical way of trading is to assess what's happened once a candle has closed. Why is that practical? Well, a number of ways. If we have some previous indecision, and let's say we've had a downtrend, and then some previous indecision, and then a potential reversal candle. That's telling me that already, after a downtrend, we've seen some indecision in the market, and now we're getting confirmation that we might be seeing a pullback. It could be a complete reversal. It could just be a temporary pullback, but it's telling me by looking at just not only the candle that just closed, but also the previous one and the previous trend.
It's giving me an idea of what's happened, but you can't just use that by itself. You have to use a number of other factors. You have to use the bigger picture trend. Maybe that bigger picture is we're already currently in a trend, so do I want to take that buy trade against the trend, or do I just want to accept that we made … not be seeing a retracement, and then I'm going to wait for that selling opportunity to sell with the bigger trend? There's a number of factors that you need to add into this.
A confluence of events
So you need a confluence of events. You need to add more things than just purely the candle itself. What part of the chart is it in? What is the price that it's at? Has it stored and bounced at a level that may previously have bounced back in the past whether that'd be a number of hours, or days, or weeks, or months away? It's all on … and that depends on what timeframe chart you are trading.
The other benefit of looking at a candle at the close of it as candle is that you know exactly when you need to be at your charts. You see, to me, there's nothing worse than talking to traders and especially new traders who just say,]]>385falsefullhttps://www.spreaker.com/episode/278-copy-my-trades--15121593
Copy my trades
In this weekly video:
00:24 – Have my trades copied to your account
01:12 –  Trading Algorithms and Trade Copier Software
01:55 – Results to date
02:26 – What’s the cost for this?
03:29 – A link to find out more details is below
Would you like to have my trades copied directly onto your account? If you would, listen up, I've got some great news to share with you.
Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach, video and podcast number 278.
Have my trades copied to your account
I wanted to give you an opportunity to have some of my trades copied automatically onto your account. You see, this is for you if you are too busy. Too busy to learn how to trade, you're frustrated with trading and it's not working for you. You don't want to learn how to trade but you may be after a higher-than-average return on investment. You may have been wanting something to complement your trading, or you might just want a passive income. Whatever it is, it maybe that you can't afford to do my course let's say, but you'd like to have some trades taken on your account that are going to make you money. So whatever one of those you fall into, whichever category, this solution is perfect for you.
Trading Algorithms and Trade Copier Software
You see, I've created a group of trading algorithms and I have those trade on a live account of mine. Then that live account gets replicated 100% automatically behind the scenes using some trade copier software from a company in the UK called Forex Solutions. It means that my trades get automatically placed at the same ratio onto your account automatically. It's a great system. All you need is a MetaTrader 4 account, an MT 4 account, and you can then link your account to my account through the Forex Solutions software. Now there's a few options there as well.
Results to date
You can have your account trade at the same percentage risk that I do, which is very, very low. If you've done that, then in the last seven months since November, you would be up 16% on your account right now as I'm recording this. You could then decide to multiply that by two or three, so you could be up say 32, or even 48% in the last seven months, just by multiplying the risk that I take. A 48% return in seven months is something very attractive, and that's still with low drawdown.
What’s the cost for this?
So what does this cost? Well for the whole thing, for the copier service from myself and the software, which means you need no server, you don't need to be spending $40, $50 a month for a virtual server and you don't need any trade copying software. You don't need to do any updates to the server, you don't need to do anything. It really is a 10-minute once off signup process, and then you pay a monthly subscription fee of $78, which is US dollars. Pay that as a monthly fee, automatically gets taken for as long as you want to remain as a client of the copier software. It just means that 100% automatically, the trades that my account gets places, get put onto your account behind the scenes.
It's an amazing way of trading if you are too busy or you're just really wanting an investment, or like I said, you either don't want to learn how to trade or you maybe can't afford my course. You maybe wanted to jump on board with us, but this is a good low option, low-price option to allow you to jump on board with us, take some of my trades, and grow your account at the same time.
A link to find out more details is below
So if that's something you'd like to know more about, I'm going to put a link below this video. If you're listening to the podcast, just jump onto my website under the "Join now" button, and you'll see a link to AM Trade Copier.
So I hope that helps, and as I said,]]>https://theforextradingcoach.com/?p=7822Sun, 24 Jun 2018 21:10:23 +0000Andrew MitchemPodcast: Copy my trades In this weekly video: 00:24 – Have my trades copied to your account 01:12 –  Trading Algorithms and Trade Copier Software 01:55 – Results to date 02:26 – What’s the cost for this? 03:29 – A link to find out more details is...
Copy my trades
In this weekly video:
00:24 – Have my trades copied to your account
01:12 –  Trading Algorithms and Trade Copier Software
01:55 – Results to date
02:26 – What’s the cost for this?
03:29 – A link to find out more details is below
Would you like to have my trades copied directly onto your account? If you would, listen up, I've got some great news to share with you.
Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach, video and podcast number 278.
Have my trades copied to your account
I wanted to give you an opportunity to have some of my trades copied automatically onto your account. You see, this is for you if you are too busy. Too busy to learn how to trade, you're frustrated with trading and it's not working for you. You don't want to learn how to trade but you may be after a higher-than-average return on investment. You may have been wanting something to complement your trading, or you might just want a passive income. Whatever it is, it maybe that you can't afford to do my course let's say, but you'd like to have some trades taken on your account that are going to make you money. So whatever one of those you fall into, whichever category, this solution is perfect for you.
Trading Algorithms and Trade Copier Software
You see, I've created a group of trading algorithms and I have those trade on a live account of mine. Then that live account gets replicated 100% automatically behind the scenes using some trade copier software from a company in the UK called Forex Solutions. It means that my trades get automatically placed at the same ratio onto your account automatically. It's a great system. All you need is a MetaTrader 4 account, an MT 4 account, and you can then link your account to my account through the Forex Solutions software. Now there's a few options there as well.
Results to date
You can have your account trade at the same percentage risk that I do, which is very, very low. If you've done that, then in the last seven months since November, you would be up 16% on your account right now as I'm recording this. You could then decide to multiply that by two or three, so you could be up say 32, or even 48% in the last seven months, just by multiplying the risk that I take. A 48% return in seven months is something very attractive, and that's still with low drawdown.
What’s the cost for this?
So what does this cost? Well for the whole thing, for the copier service from myself and the software, which means you need no server, you don't need to be spending $40, $50 a month for a virtual server and you don't need any trade copying software. You don't need to do any updates to the server, you don't need to do anything. It really is a 10-minute once off signup process, and then you pay a monthly subscription fee of $78, which is US dollars. Pay that as a monthly fee, automatically gets taken for as long as you want to remain as a client of the copier software. It just means that 100% automatically, the trades that my account gets places, get put onto your account behind the scenes.
It's an amazing way of trading if you are too busy or you're just really wanting an investment, or like I said, you either don't want to learn how to trade or you maybe can't afford my course. You maybe wanted to jump on board with us, but this is a good low option, low-price option to allow you to jump on board with us, take some of my trades, and grow your account at the same time.
A link to find out more details is below
So if that's something you'd like to know more about, I'm going to put a link below this video. If you're listening to the podcast, just jump onto my website under the "Join now" button, and you'll see a link to AM Trade Copier.
So I hope that helps, and as I said,]]>264falsefullhttps://www.spreaker.com/episode/277-how-to-survive-when-the-market-is-quiet--15069819
How to survive when the market is quiet
In this weekly video:
00:29 – Tight, rangebound trading conditions
01:00 – How to trade during tough conditions?
01:54 – Having a confluence of events in your favour
02:54 – Examples of what makes a good trade setup
04:53 – Giving yourself a higher probability chance of success
05:16 – Email me if you need any help
As a Forex trader, it's important for you to know how to survive when the market conditions are quiet and not favourable. So let's talk about that important subject and more right now.
Hi Forex traders it's Andrew Mitchem here, the Forex Trading Coach Video and Podcast Number 277.
Tight, rangebound trading conditions
I want to talk about the conditions right now. Go and look at your charts and you see that most of the currency pairs are in quite a tight range band market right now. There's not a lot of strength or weakness either way. I'll give you an example; have a look at the New Zealand dollar against the US dollar. It's stuck around the 70 level, the 0.7000 level against the US. It's been there for quite a while. If you look back over the last couple of trading weeks, you'll see that the pair has fluctuated around 100 pip movement; very, very hard to make money when that happens.
How to trade during tough conditions?
So what can you do about that and how do you trade those conditions? Because of course, I can look back now and say the last two weeks it's moved 100 pips in two weeks. But at the time you don't know that, and that's the hard thing with trading. Which is why I always say to people, a good trader has the ability to trade in realtime and from the right hand side of the chart. The internet trader, of which are there are many so-called experts out there, have the ability to show you charts and show you trades with the benefit of hindsight.
So that's what makes me different in that I take trades live for my clients on a daily basis, we post them on the forum site. I have specific trades, and of course I trade live on a live webinar. On top of that, I manage funds for people as well. But let's get back to the point in hand, which is how do you trade when the conditions are quiet?
Having a confluence of events in your favour
For me, it's all about having a confluence of events all showing at the same time. Because trading is about probability, and it's all about adding multiple layers upon each other to give yourself an overall higher probability chance of that trade being a good one and justifying why you should actually take the trade in the first place.
In general, if conditions are tough then be really, really selective about your trading and don't keep trying to want to take trades just for the sake of it. That's a really important first point. But when it comes to the charts, as a trader I give away my Engulfing Candle course for free, and it's looking for engulfing candles. But when it comes to my real trading and my coaching course, of course there's more to it than just looking for every engulfing candle. There's other candle patterns that we're looking for as well. But more importantly, it's knowing where they occur within the chart; what part of the chart are we in right now. So it's adding that confluence of events, multiple factors together.
Examples of what makes a good trade setup
For example, have we had a prior trend? Let's say we've had a prior downtrend and now we're looking for a bullish pattern. Fantastic, because now we're looking for a reversal or a continuation of a main trend after a pullback. What type of the part of the chart are we in? Are we near the upper Bollinger? The bottom? The middle? Are we in no man's land? What about divergence? Does that help us? Have we bounced at round numbers? Have we bounced at previous support or resistance levels?]]>https://theforextradingcoach.com/?p=7811Sun, 17 Jun 2018 20:32:58 +0000Andrew MitchemPodcast: How to survive when the market is quiet In this weekly video: 00:29 – Tight, rangebound trading conditions 01:00 – How to trade during tough conditions? 01:54 – Having a confluence of events in your favour 02:54 – Examples of what makes a...
How to survive when the market is quiet
In this weekly video:
00:29 – Tight, rangebound trading conditions
01:00 – How to trade during tough conditions?
01:54 – Having a confluence of events in your favour
02:54 – Examples of what makes a good trade setup
04:53 – Giving yourself a higher probability chance of success
05:16 – Email me if you need any help
As a Forex trader, it's important for you to know how to survive when the market conditions are quiet and not favourable. So let's talk about that important subject and more right now.
Hi Forex traders it's Andrew Mitchem here, the Forex Trading Coach Video and Podcast Number 277.
Tight, rangebound trading conditions
I want to talk about the conditions right now. Go and look at your charts and you see that most of the currency pairs are in quite a tight range band market right now. There's not a lot of strength or weakness either way. I'll give you an example; have a look at the New Zealand dollar against the US dollar. It's stuck around the 70 level, the 0.7000 level against the US. It's been there for quite a while. If you look back over the last couple of trading weeks, you'll see that the pair has fluctuated around 100 pip movement; very, very hard to make money when that happens.
How to trade during tough conditions?
So what can you do about that and how do you trade those conditions? Because of course, I can look back now and say the last two weeks it's moved 100 pips in two weeks. But at the time you don't know that, and that's the hard thing with trading. Which is why I always say to people, a good trader has the ability to trade in realtime and from the right hand side of the chart. The internet trader, of which are there are many so-called experts out there, have the ability to show you charts and show you trades with the benefit of hindsight.
So that's what makes me different in that I take trades live for my clients on a daily basis, we post them on the forum site. I have specific trades, and of course I trade live on a live webinar. On top of that, I manage funds for people as well. But let's get back to the point in hand, which is how do you trade when the conditions are quiet?
Having a confluence of events in your favour
For me, it's all about having a confluence of events all showing at the same time. Because trading is about probability, and it's all about adding multiple layers upon each other to give yourself an overall higher probability chance of that trade being a good one and justifying why you should actually take the trade in the first place.
In general, if conditions are tough then be really, really selective about your trading and don't keep trying to want to take trades just for the sake of it. That's a really important first point. But when it comes to the charts, as a trader I give away my Engulfing Candle course for free, and it's looking for engulfing candles. But when it comes to my real trading and my coaching course, of course there's more to it than just looking for every engulfing candle. There's other candle patterns that we're looking for as well. But more importantly, it's knowing where they occur within the chart; what part of the chart are we in right now. So it's adding that confluence of events, multiple factors together.
Examples of what makes a good trade setup
For example, have we had a prior trend? Let's say we've had a prior downtrend and now we're looking for a bullish pattern. Fantastic, because now we're looking for a reversal or a continuation of a main trend after a pullback. What type of the part of the chart are we in? Are we near the upper Bollinger? The bottom? The middle? Are we in no man's land? What about divergence? Does that help us? Have we bounced at round numbers? Have we bounced at previous support or resistance levels?]]>361falsefullhttps://www.spreaker.com/episode/276-don-t-stress-about-the-news--15013358
Don’t stress about the news
In this weekly video:
00:21 – Decisions are based off the charts
01:05 – Look at the news announcements once a day
01:36 – The charts tell me all I need to know
01:52 – News is your opinion
02:48 – Should you straddle the news?
03:23 – Should I be watching the news channels on TV?
04:05 – H12 AUD/JPY Sell trade live on a webinar makes a +1.25% account gain
Hey Traders, Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 276.
Decisions are based off the charts
Now, as you know, I'm a technical trader, I look at the charts and I make my decisions based on what I see on the charts because as a technical trader, the price action tells me everything that I need to know. I'm not a news trader, I'm not a fundamental trader, and I know that when I mention that some people get upset, and there are certain people out there, and you know who you are, that say, "Hey Andrew, you can't be a trader purely technically." But, I've been doing this for 15 years and yes I am, and so are my coaching clients.
So, I'm not saying that news trading doesn't work, so don't get worried if you're a news trader. But, I'm saying they don't need to stress about news trading because to me there's a better way, and that's technical trading.
Look at the news announcements once a day
Now, I look at Forex factory once a day purely for my own interest and knowledge about what news announcements are coming up, and what will the announcements of some of the major impact news yesterday, just purely for my own global knowledge of what's happening. But it does not effect my trading.
You see, as a technical trader I believe that I see everything I need to know on the charts. And as mentioned, I've been doing this 15 years and it's worked over that time pretty well. So, it's unlikely not to work in the future.
The charts tell me all I need to know
Because the charts tell me everything I need to know. They tell me where I see certain candle patterns that I'm looking for, they tell me whether we're in an overbought, oversold area. I can look at strength and weakness with other bigger timeframes, and then use that to my advantage on shorter timeframes.
News is your opinion
Whereas to me news is quite opinionated. You see, when a news release comes out, is that better or worse than the anticipated level? And then it's like, well, how much better or worse has it? And what some people see as good news, others would see as very average or poor news. And that becomes the problem as a technical trader looking at the other side of fundamentals. It becomes too opinionated.
You may say, "Well, that employment rate was really good." I might go, "Well, it was okay, but it was nowhere near as good as expected or last months went down." Those kind of things. And then how does that affect the currency? Whereas, as a technical trader the charts tell me everything. I don't need to still be worrying about whether this is good or bad news. It doesn't matter. The fact is that the price is either moving up or down, and that's really how I benefit as a technical trader.
Should you straddle the news?
And you get a lot of people who may say, "Look why don't I just straddle the news." As in like take a buy stop, if the news moves the pair up and take a sell stop if the price moves down. Well that's okay, but that's basically just a technical way of trading a news item, because it's basically saying you've got no idea what's happening, it just means that if it moves up and breaks out upwards you're taking a buy trade and if it breaks that downwards you're taking the sell trade. Well that's not fundamental news trading. That's basically taking a punt each way.]]>https://theforextradingcoach.com/?p=7802Sun, 10 Jun 2018 20:53:11 +0000Andrew MitchemPodcast: Don’t stress about the news In this weekly video: 00:21 – Decisions are based off the charts 01:05 – Look at the news announcements once a day 01:36 – The charts tell me all I need to know 01:52 – News is your opinion 02:48 – Should you...
Don’t stress about the news
In this weekly video:
00:21 – Decisions are based off the charts
01:05 – Look at the news announcements once a day
01:36 – The charts tell me all I need to know
01:52 – News is your opinion
02:48 – Should you straddle the news?
03:23 – Should I be watching the news channels on TV?
04:05 – H12 AUD/JPY Sell trade live on a webinar makes a +1.25% account gain
Hey Traders, Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 276.
Decisions are based off the charts
Now, as you know, I'm a technical trader, I look at the charts and I make my decisions based on what I see on the charts because as a technical trader, the price action tells me everything that I need to know. I'm not a news trader, I'm not a fundamental trader, and I know that when I mention that some people get upset, and there are certain people out there, and you know who you are, that say, "Hey Andrew, you can't be a trader purely technically." But, I've been doing this for 15 years and yes I am, and so are my coaching clients.
So, I'm not saying that news trading doesn't work, so don't get worried if you're a news trader. But, I'm saying they don't need to stress about news trading because to me there's a better way, and that's technical trading.
Look at the news announcements once a day
Now, I look at Forex factory once a day purely for my own interest and knowledge about what news announcements are coming up, and what will the announcements of some of the major impact news yesterday, just purely for my own global knowledge of what's happening. But it does not effect my trading.
You see, as a technical trader I believe that I see everything I need to know on the charts. And as mentioned, I've been doing this 15 years and it's worked over that time pretty well. So, it's unlikely not to work in the future.
The charts tell me all I need to know
Because the charts tell me everything I need to know. They tell me where I see certain candle patterns that I'm looking for, they tell me whether we're in an overbought, oversold area. I can look at strength and weakness with other bigger timeframes, and then use that to my advantage on shorter timeframes.
News is your opinion
Whereas to me news is quite opinionated. You see, when a news release comes out, is that better or worse than the anticipated level? And then it's like, well, how much better or worse has it? And what some people see as good news, others would see as very average or poor news. And that becomes the problem as a technical trader looking at the other side of fundamentals. It becomes too opinionated.
You may say, "Well, that employment rate was really good." I might go, "Well, it was okay, but it was nowhere near as good as expected or last months went down." Those kind of things. And then how does that affect the currency? Whereas, as a technical trader the charts tell me everything. I don't need to still be worrying about whether this is good or bad news. It doesn't matter. The fact is that the price is either moving up or down, and that's really how I benefit as a technical trader.
Should you straddle the news?
And you get a lot of people who may say, "Look why don't I just straddle the news." As in like take a buy stop, if the news moves the pair up and take a sell stop if the price moves down. Well that's okay, but that's basically just a technical way of trading a news item, because it's basically saying you've got no idea what's happening, it just means that if it moves up and breaks out upwards you're taking a buy trade and if it breaks that downwards you're taking the sell trade. Well that's not fundamental news trading. That's basically taking a punt each way.]]>340falsefullhttps://www.spreaker.com/episode/275-your-2-options-to-trading-success--14961162
Your 2 options to trading success
In this weekly video:
00:25 – Father Christmas does not really exist
00:55 – How much money can I make from my trading?
02.12 – You have to be real with your expectations
02:49 – My 2 options for you to success – #1 learn to trade for yourself
03:46 – Options #2 – have my robots trade your account automatically
04:58 – Be real and my conclusions
05:30 – Learning how to trade is so important
As a Forex trader, you need to be realistic, and you need to understand that Father Christmas does not really exist. Let me explain exactly what I mean right now.
Hey traders, its Andrew Mitchem here, owner of the Forex Trading Coach video and podcast number 275.
Father Christmas does not really exist
And I want to explain to you why Father Christmas, or Santa, does not really exist and how that affects you as a Forex trader. So just bear with me here, there's a bit of a story behind this.
So just yesterday, I did an interview for a podcast from a forex trading website over in the U.K. Before we started the interview, the guy said to me, "Do you find that you get comments and emails from people who are completely unrealistic in their approaches to trading?" And I said, "Yeah, absolutely I do”.
How much money can I make from my trading?
And just this week I had a guy that said to me, ‘How much money can I make from my trading, Andrew?' And I said, ‘Well, it depends.' And I said to him, ‘Well, how long is a piece of string?' And I said to him, ‘Well really, it depends on your account size, how good a trader you are, what the risk of your trades are, what risk you take per trade. There are so many variables. I cannot say to you this is how much you are going to make per week from Forex, because it's unrealistic to put a number on it.'"
And the guy who was interviewing me said, "Hey I can go one better than that. I had a person who said to me, ‘I have 100 pounds in my account, can I make £20,000 per week?'" And the guy was laughing, and he said, "Well, we have to tell people out there," which is why I'm doing this right now, because the expectation is, is that you're going to make an absolute fortune out of your trading straightaway. And the guy said, "It's like telling people that … it's that memory that you had as a child, when you found out that Father Christmas, or Santa, does not really exist." And it's such a like … it's a soul-destroying thought, because you have these very high expectation and there's sort of these dreams, and then all of a sudden somebody tells you that it's not real. And there's that big deflation.
You have to be real with your expectations
So, I don't want to be the bearer of bad news, 'cause I've got some great news to share with you, but the thing is, you have to be real with your trading and your expectations. Don't go into trading if you've got like thinking you're going to suddenly give up your job and make a fortune out of your trading from the very beginning, because you won't. Look, I've got clients, and quite a good number of clients who have given up their jobs and are now trading forex full-time since taking my course. But it's taken them a bit of time and some hard work and some dedication. And yeah, they've probably got slightly bigger accounts and things like that. But it can certainly be done.
My 2 options for you to success – #1 learn to trade for yourself
So the good news is, I've got two options for you that will enable you to do well from forex. The first one is, of course, you could look at trading for yourself by taking my five-star rated coaching course. It's been running for over nine years now. The same strategy, you know,]]>https://theforextradingcoach.com/?p=7793Sun, 03 Jun 2018 21:17:29 +0000Andrew MitchemPodcast: Your 2 options to trading success In this weekly video: 00:25 – Father Christmas does not really exist 00:55 – How much money can I make from my trading? 02.12 – You have to be real with your expectations 02:49 – My 2 options for you to...
Your 2 options to trading success
In this weekly video:
00:25 – Father Christmas does not really exist
00:55 – How much money can I make from my trading?
02.12 – You have to be real with your expectations
02:49 – My 2 options for you to success – #1 learn to trade for yourself
03:46 – Options #2 – have my robots trade your account automatically
04:58 – Be real and my conclusions
05:30 – Learning how to trade is so important
As a Forex trader, you need to be realistic, and you need to understand that Father Christmas does not really exist. Let me explain exactly what I mean right now.
Hey traders, its Andrew Mitchem here, owner of the Forex Trading Coach video and podcast number 275.
Father Christmas does not really exist
And I want to explain to you why Father Christmas, or Santa, does not really exist and how that affects you as a Forex trader. So just bear with me here, there's a bit of a story behind this.
So just yesterday, I did an interview for a podcast from a forex trading website over in the U.K. Before we started the interview, the guy said to me, "Do you find that you get comments and emails from people who are completely unrealistic in their approaches to trading?" And I said, "Yeah, absolutely I do”.
How much money can I make from my trading?
And just this week I had a guy that said to me, ‘How much money can I make from my trading, Andrew?' And I said, ‘Well, it depends.' And I said to him, ‘Well, how long is a piece of string?' And I said to him, ‘Well really, it depends on your account size, how good a trader you are, what the risk of your trades are, what risk you take per trade. There are so many variables. I cannot say to you this is how much you are going to make per week from Forex, because it's unrealistic to put a number on it.'"
And the guy who was interviewing me said, "Hey I can go one better than that. I had a person who said to me, ‘I have 100 pounds in my account, can I make £20,000 per week?'" And the guy was laughing, and he said, "Well, we have to tell people out there," which is why I'm doing this right now, because the expectation is, is that you're going to make an absolute fortune out of your trading straightaway. And the guy said, "It's like telling people that … it's that memory that you had as a child, when you found out that Father Christmas, or Santa, does not really exist." And it's such a like … it's a soul-destroying thought, because you have these very high expectation and there's sort of these dreams, and then all of a sudden somebody tells you that it's not real. And there's that big deflation.
You have to be real with your expectations
So, I don't want to be the bearer of bad news, 'cause I've got some great news to share with you, but the thing is, you have to be real with your trading and your expectations. Don't go into trading if you've got like thinking you're going to suddenly give up your job and make a fortune out of your trading from the very beginning, because you won't. Look, I've got clients, and quite a good number of clients who have given up their jobs and are now trading forex full-time since taking my course. But it's taken them a bit of time and some hard work and some dedication. And yeah, they've probably got slightly bigger accounts and things like that. But it can certainly be done.
My 2 options for you to success – #1 learn to trade for yourself
So the good news is, I've got two options for you that will enable you to do well from forex. The first one is, of course, you could look at trading for yourself by taking my five-star rated coaching course. It's been running for over nine years now. The same strategy, you know,]]>411falsefullhttps://www.spreaker.com/episode/274-what-makes-a-good-forex-trader--14903005
What makes a good Forex Trader?
In this weekly video:
00:29 – The good news
00:43 – Your passion to want to trade
01:10 – It’s too easy to change systems
01:48 – Good trading is boring
02:17 – Consistency is key
03:13 – Why do so many of my traders succeed?
What makes a good Forex trader? Let's discuss those really important characteristics right now.
Hi Forex traders, it's Andrew Mitchem here, owner of The Forex Trading Coach. Video and podcast number 274. I want to give you an insight into what makes a really good Forex trader.
The good news
Now the good news first is that you don't need to have to work in a bank or in the city or at a brokerage or anything like that.
The other good news is you don't need to have a degree in mathematics or anything like that either.
Your passion to want to trade
It's more about the individual person and your passion and your drive and your enjoyment of trading that makes a big, big difference. Over the years I've seen all sorts of people come and go through trading.
Some people start off really well. Sometimes they get bored and sometimes things psychologically get to them and trades then suddenly don't go quite so well and they stop or they give up.
It’s too easy to change systems
Unfortunately, you probably know this from your own experience, because it probably happens to every Forex trader is that it's too easy to dismiss the system and to chop and change and go on looking for that next shiny object, that next holy grail system that's going to suddenly magically solve all your world's financial problems.
But, that's what you thought of the one that you've just given up on a few weeks or a few months previously. Of course, that didn't work either. So people are constantly changing and that I think is one of the big problems. Consistency is the key. You see, the fact is not many people will tell you this.
Good trading is boring
But the absolute fact is that good trading is actually very, very boring. It's not the sort of thing that you would expect me as a full time trader and a coach to say, but the fact is trading, good trading that is, is boring. Why do I say that? Well, it comes down to doing the same thing all of the time.
Now while the market changes and moves up and down and sideways, etc. and the market is never the same. But the actual approach to your trading needs to be the same.
Consistency is key
You need to have consistency. So if there's one take away you were to use or to get from this video and podcast, it is consistency. And you have to have that. You have to be consistent in your approach and your mental approach and your technical approach to what you're looking at into the time that you're trading. The setup that you're trading has to be consistent in order to give that strategy the best chance of success because trading is probability. Not every trade is going to be perfect and you have to accept that also.
So, consistency and boring trading approach is what makes the good trader in the long run. The person that just chops and changes from one system to another, after two or three losing trades, is not going to be the person who ever makes a good Forex trader. So consistency is absolute key.
Why do so many of my traders succeed?
Why do so many of my clients do so well? Well, first of all, they're getting taught a damn good strategy, one that has worked consistently over so many years, over so many market conditions. But also, our approach is consistent. Even these free videos and podcasts, they're made every single week consistently. On my membership site, consistently every single day of the trading week, the daily charts are put on the membership site at consistently the same time. We trade at the close of the New York 5 pm cand...]]>https://theforextradingcoach.com/?p=7781Sun, 27 May 2018 21:15:45 +0000Andrew MitchemPodcast: What makes a good Forex Trader? In this weekly video: 00:29 – The good news 00:43 – Your passion to want to trade 01:10 – It’s too easy to change systems 01:48 – Good trading is boring 02:17 – Consistency is key 03:13 – Why do so many of my...
What makes a good Forex Trader?
In this weekly video:
00:29 – The good news
00:43 – Your passion to want to trade
01:10 – It’s too easy to change systems
01:48 – Good trading is boring
02:17 – Consistency is key
03:13 – Why do so many of my traders succeed?
What makes a good Forex trader? Let's discuss those really important characteristics right now.
Hi Forex traders, it's Andrew Mitchem here, owner of The Forex Trading Coach. Video and podcast number 274. I want to give you an insight into what makes a really good Forex trader.
The good news
Now the good news first is that you don't need to have to work in a bank or in the city or at a brokerage or anything like that.
The other good news is you don't need to have a degree in mathematics or anything like that either.
Your passion to want to trade
It's more about the individual person and your passion and your drive and your enjoyment of trading that makes a big, big difference. Over the years I've seen all sorts of people come and go through trading.
Some people start off really well. Sometimes they get bored and sometimes things psychologically get to them and trades then suddenly don't go quite so well and they stop or they give up.
It’s too easy to change systems
Unfortunately, you probably know this from your own experience, because it probably happens to every Forex trader is that it's too easy to dismiss the system and to chop and change and go on looking for that next shiny object, that next holy grail system that's going to suddenly magically solve all your world's financial problems.
But, that's what you thought of the one that you've just given up on a few weeks or a few months previously. Of course, that didn't work either. So people are constantly changing and that I think is one of the big problems. Consistency is the key. You see, the fact is not many people will tell you this.
Good trading is boring
But the absolute fact is that good trading is actually very, very boring. It's not the sort of thing that you would expect me as a full time trader and a coach to say, but the fact is trading, good trading that is, is boring. Why do I say that? Well, it comes down to doing the same thing all of the time.
Now while the market changes and moves up and down and sideways, etc. and the market is never the same. But the actual approach to your trading needs to be the same.
Consistency is key
You need to have consistency. So if there's one take away you were to use or to get from this video and podcast, it is consistency. And you have to have that. You have to be consistent in your approach and your mental approach and your technical approach to what you're looking at into the time that you're trading. The setup that you're trading has to be consistent in order to give that strategy the best chance of success because trading is probability. Not every trade is going to be perfect and you have to accept that also.
So, consistency and boring trading approach is what makes the good trader in the long run. The person that just chops and changes from one system to another, after two or three losing trades, is not going to be the person who ever makes a good Forex trader. So consistency is absolute key.
Why do so many of my traders succeed?
Why do so many of my clients do so well? Well, first of all, they're getting taught a damn good strategy, one that has worked consistently over so many years, over so many market conditions. But also, our approach is consistent. Even these free videos and podcasts, they're made every single week consistently. On my membership site, consistently every single day of the trading week, the daily charts are put on the membership site at consistently the same time. We trade at the close of the New York 5 pm cand...]]>339falsefullhttps://www.spreaker.com/episode/273-so-you-want-to-scalp-the-forex-market--14842095
So you want to Scalp the Forex Market?
In this weekly video:
00:24 – The high paced action of the 1 and 5 minute charts
01:20 – The reality is much different
02:18 – The spread becomes such a big part of your trade
03:30 – The Reward:Risk of Scalping is not good
02:57 – The Price can change so quickly against you
04:24 – My Suggestions to help you
So you want to be a scalper in the Forex market, do you? Let's talk about that and more right now.
Hey Forex traders, it's Andrew Mitchem here. The Forex Trading Coach video and podcast number 273.
The high paced action of the 1 and 5 minute charts
And I want to talk about the high paced action, where all the action happens in the one and five minute charts. Because that's what you need to trade if you want to be a scalper, don't you. And do you want to be a scalper? Well, that's what I get told by so many people. I had another email just this morning saying, "Hey Andrew. Please, can you teach me strategies so I can be a scalper?"
I'm going to talk about the pros and cons of scalping. And by the end of this video and podcast, you can make your own decisions. But let's talk about it. What is it? It's trading five minute charts, maybe one minute charts. And it's looking for small, incremental gains all the time. Sounds real cool. Sounds amazing, because as Forex traders, we think that we need to be sat there watching the charts all the time, taking every little pip up and down. And that's unfortunately what so many new traders think.
Look, I did the same, 15 years ago. All I wanted to do was to take little trades, watching every pip move up and down.
The reality is much different
I can promise you the reality is that, on those shorter time frame charts, the probability of you using a really high quality trade set up on that pair that you're trading at that time that you happen to be looking at your charts is quite slim. And with hindsight, with the benefit of hindsight, I can go back through on five minute charts and go, "Oh look, that was a great set up here and there's a perfect set up there." But the chances of me being at the computer at that time, is quite slim.
So, the reality is that most people then start to force trades to happen. Because I'm sat there ready at my computer. So I'm ready, so where's the trade? And that's what most people think. The reality is that the market will show the right set ups when the market is ready. Not when you're sat there ready. And that's quite a hard thing to understand for many new traders. So therefore, what you start to do is you take trades that are not really that great a set up.
The spread becomes such a big part of your trade
Then the problem being is the spread becomes such a big part of your trade. So let's say as an example, you are wanting to take a 10 pip profit target. Now, I don't know who you pick 10 pips, but most people seem to think 10 pips is because it's an easy round number. The problem is, let's say you're trading British pounds, US dollar, and you've just paid two pips on the spread, the difference between the big and the [inaudible 00:02:32] cost of taking the trade. So now, your 10 pip profit target, is that 12 pips away? Because you've already paid two pips, so you're basically minus two. So to get to 10, you have to actually make 12. That's not quite so exciting. If you make 10 pips and you've just paid two as a spread, well haven't you just, and let's say hit the profit, haven't you just lost 20% of your total profit to the cost of the spread.
The reverse of that is the stop loss. You want a 10 pip stop loss. So, does that mean that once you've taken your trade, you're now minus two, let's say effectively, that means you're only eight pips away from the stop loss. So,]]>https://theforextradingcoach.com/?p=7767Sun, 20 May 2018 22:01:15 +0000Andrew MitchemPodcast: So you want to Scalp the Forex Market? In this weekly video: 00:24 – The high paced action of the 1 and 5 minute charts 01:20 – The reality is much different 02:18 – The spread becomes such a big part of your trade 03:30 – The Reward:Risk...
So you want to Scalp the Forex Market?
In this weekly video:
00:24 – The high paced action of the 1 and 5 minute charts
01:20 – The reality is much different
02:18 – The spread becomes such a big part of your trade
03:30 – The Reward:Risk of Scalping is not good
02:57 – The Price can change so quickly against you
04:24 – My Suggestions to help you
So you want to be a scalper in the Forex market, do you? Let's talk about that and more right now.
Hey Forex traders, it's Andrew Mitchem here. The Forex Trading Coach video and podcast number 273.
The high paced action of the 1 and 5 minute charts
And I want to talk about the high paced action, where all the action happens in the one and five minute charts. Because that's what you need to trade if you want to be a scalper, don't you. And do you want to be a scalper? Well, that's what I get told by so many people. I had another email just this morning saying, "Hey Andrew. Please, can you teach me strategies so I can be a scalper?"
I'm going to talk about the pros and cons of scalping. And by the end of this video and podcast, you can make your own decisions. But let's talk about it. What is it? It's trading five minute charts, maybe one minute charts. And it's looking for small, incremental gains all the time. Sounds real cool. Sounds amazing, because as Forex traders, we think that we need to be sat there watching the charts all the time, taking every little pip up and down. And that's unfortunately what so many new traders think.
Look, I did the same, 15 years ago. All I wanted to do was to take little trades, watching every pip move up and down.
The reality is much different
I can promise you the reality is that, on those shorter time frame charts, the probability of you using a really high quality trade set up on that pair that you're trading at that time that you happen to be looking at your charts is quite slim. And with hindsight, with the benefit of hindsight, I can go back through on five minute charts and go, "Oh look, that was a great set up here and there's a perfect set up there." But the chances of me being at the computer at that time, is quite slim.
So, the reality is that most people then start to force trades to happen. Because I'm sat there ready at my computer. So I'm ready, so where's the trade? And that's what most people think. The reality is that the market will show the right set ups when the market is ready. Not when you're sat there ready. And that's quite a hard thing to understand for many new traders. So therefore, what you start to do is you take trades that are not really that great a set up.
The spread becomes such a big part of your trade
Then the problem being is the spread becomes such a big part of your trade. So let's say as an example, you are wanting to take a 10 pip profit target. Now, I don't know who you pick 10 pips, but most people seem to think 10 pips is because it's an easy round number. The problem is, let's say you're trading British pounds, US dollar, and you've just paid two pips on the spread, the difference between the big and the [inaudible 00:02:32] cost of taking the trade. So now, your 10 pip profit target, is that 12 pips away? Because you've already paid two pips, so you're basically minus two. So to get to 10, you have to actually make 12. That's not quite so exciting. If you make 10 pips and you've just paid two as a spread, well haven't you just, and let's say hit the profit, haven't you just lost 20% of your total profit to the cost of the spread.
The reverse of that is the stop loss. You want a 10 pip stop loss. So, does that mean that once you've taken your trade, you're now minus two, let's say effectively, that means you're only eight pips away from the stop loss. So,]]>353falsefullhttps://www.spreaker.com/episode/272-accurately-calculate-your-position-size--14784059
Accurately calculate your position size
In this weekly video:
00:26 – Calculate your lot size easily
00:54 – Many traders misunderstand the importance of this
01:29 – Every trade has an equal and known risk
02:33 – How to calculate your risk – there are many factors
03:13 – Get my Calculator for free
04:45 – Changing your thought process
Would you like to know how to accurately calculate the position size that you need on your trade in order to keep your risk low? Listen up, I've got some great news.
Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach Video and Podcast number 272.
Calculate your lot size easily
I'm going to explain how you can accurately and easily calculate the lot size or the position size that you need to place on each and every one of your trades in order to help you trade better, to help you with your psychology, and to help keep your risk per trade low and equal regardless of the trade, the size of the stop loss, or the timeframe. So I'm sure you'd like to know how to do that.
Many traders misunderstand the importance of this
Well, before that I'm just going to read an email that came through here and it said, "I loved the video that you did on the risk calculator, but could you explain more? I think it's a massive misunderstanding amongst many traders, and the way you explain it makes so much sense to me. Can you make another video so I can get a better understanding?" That's quite interesting that the person says that most people have a massive misunderstanding, and I think it's absolutely true. That is a big, big problem amongst Forex traders.
Every trade has an equal and known risk
So the way that I trade is every single trade that I take has an equal and known risk. So people get too worried about what the stop loss needs to be and how many pips that is; it doesn't really matter. By getting your mentality away from thinking about making profit or loss in pips, what it does is it gets you thinking like a professional trader who thinks in terms of your risk to reward, win rates, and controlling risk per trade.
Every single trade that I take has the same amount of risk; the same percentage of my account at risk regardless of what currency pair it is, what the timeframe chart is, whether it's a longer term trade, a short timeframe trade, doesn't matter. They all have equal risk. That helps me to trade with less emotions. All the trades I've got going behind me here, every single one of them, is controlled.
How to calculate your risk – there are many factors
So if a number of them go wrong it doesn't really matter, because I have the risk controlled and I know that on my profitable trades I have high reward to risk.
So how do you do it? Well, as you would likely know, and if you don't you soon will, each currency pair pays out a different amount per pip. So the manual, old fashioned way of doing this is quite slow and it's quite difficult and it takes a fair bit of calculation. Because it also depends on what your account is denominated in. So as an example, if you have a US dollar account or a British pound account or an Aussie or a Kiwi dollar account, whatever it might be, the amount that you get paid per pip of movement up and down is different depending on your account.
Get my Calculator for free
So I have an amazing lot size calculator; it's freely available and I have placed … Or will be placing, a link below this video and podcast so you can download it for free.
Let me explain how it works. Rather than going through that whole complicated calculation, you don't need to do any of that. All you do is you drag the script, it is a script not an indicator, so when you download it and you start coming back to me going, "Andrew it doesn't work,]]>https://theforextradingcoach.com/?p=7751Sun, 13 May 2018 20:53:41 +0000Andrew MitchemPodcast: Accurately calculate your position size In this weekly video: 00:26 – Calculate your lot size easily 00:54 – Many traders misunderstand the importance of this 01:29 – Every trade has an equal and known risk 02:33 – How to calculate your...
Accurately calculate your position size
In this weekly video:
00:26 – Calculate your lot size easily
00:54 – Many traders misunderstand the importance of this
01:29 – Every trade has an equal and known risk
02:33 – How to calculate your risk – there are many factors
03:13 – Get my Calculator for free
04:45 – Changing your thought process
Would you like to know how to accurately calculate the position size that you need on your trade in order to keep your risk low? Listen up, I've got some great news.
Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach Video and Podcast number 272.
Calculate your lot size easily
I'm going to explain how you can accurately and easily calculate the lot size or the position size that you need to place on each and every one of your trades in order to help you trade better, to help you with your psychology, and to help keep your risk per trade low and equal regardless of the trade, the size of the stop loss, or the timeframe. So I'm sure you'd like to know how to do that.
Many traders misunderstand the importance of this
Well, before that I'm just going to read an email that came through here and it said, "I loved the video that you did on the risk calculator, but could you explain more? I think it's a massive misunderstanding amongst many traders, and the way you explain it makes so much sense to me. Can you make another video so I can get a better understanding?" That's quite interesting that the person says that most people have a massive misunderstanding, and I think it's absolutely true. That is a big, big problem amongst Forex traders.
Every trade has an equal and known risk
So the way that I trade is every single trade that I take has an equal and known risk. So people get too worried about what the stop loss needs to be and how many pips that is; it doesn't really matter. By getting your mentality away from thinking about making profit or loss in pips, what it does is it gets you thinking like a professional trader who thinks in terms of your risk to reward, win rates, and controlling risk per trade.
Every single trade that I take has the same amount of risk; the same percentage of my account at risk regardless of what currency pair it is, what the timeframe chart is, whether it's a longer term trade, a short timeframe trade, doesn't matter. They all have equal risk. That helps me to trade with less emotions. All the trades I've got going behind me here, every single one of them, is controlled.
How to calculate your risk – there are many factors
So if a number of them go wrong it doesn't really matter, because I have the risk controlled and I know that on my profitable trades I have high reward to risk.
So how do you do it? Well, as you would likely know, and if you don't you soon will, each currency pair pays out a different amount per pip. So the manual, old fashioned way of doing this is quite slow and it's quite difficult and it takes a fair bit of calculation. Because it also depends on what your account is denominated in. So as an example, if you have a US dollar account or a British pound account or an Aussie or a Kiwi dollar account, whatever it might be, the amount that you get paid per pip of movement up and down is different depending on your account.
Get my Calculator for free
So I have an amazing lot size calculator; it's freely available and I have placed … Or will be placing, a link below this video and podcast so you can download it for free.
Let me explain how it works. Rather than going through that whole complicated calculation, you don't need to do any of that. All you do is you drag the script, it is a script not an indicator, so when you download it and you start coming back to me going, "Andrew it doesn't work,]]>368falsefullhttps://www.spreaker.com/episode/271-why-round-numbers-work--14720809
Why Round Numbers Work
In this weekly video:
00:33 – What is a Round Number?
01:10 – People move to the market
01:45 – The NZD/USD chart example with the price at 0.7000
03:54 – The EUR/AUD reacts at 1.6000
04:30 – Get my Round Numbers indicator – Link is on this page
I'm going to talk about why round numbers work in the Forex market. They just do. Let's find out more about that right now.
Hey Forex Traders, Andrew Mitchem here. The Forex Trading Coach video and podcast number 271. This is all about the importance of round numbers, how to use them, and why they work. Really, really important video so listen up.
What is a Round Number?
Round numbers, what are they? Well I call a round number a price level that ends in a 00 or a 50. Two very powerful levels. Think about it this way, when you go to a shop you will buy something for $19.95 or $19.90, but you won't buy at $20.00 or $20.05. You're buying a house, you're looking at a nice big house. Would you a pay $1,500,000 for it or would you pay $995,000 for it? It's all about that strong level. When the price gets to a certain level, people react.
People move to the market
Because after all the market is moved by people and emotion and reactions, whether it be to news events or price levels. It's people that move the market. Even with algorithms in the market, of which there's an enormous amount, they're still coded to look for certain events and certain reactions. You can look through your charts, all over charts, and see how round numbers react; or the price reacts at round numbers, I should say. It's more that way around. The price stalls or changes directions at round numbers.
The NZD/USD chart example with the price at 0.7000
I'll give you an example. I had a phone call this week, on Wednesday my time, from a client who lives locally … I'm sorry from a contact, not a client. He wanted to become a client. He lives locally. He said to me, "Hey Andrew, you're talking about Strength and Weakness and daily directions and all this sort of things. How do you pick them?" I gave him an example and because he lives in New Zealand I said, "Look, go have a look at the New Zealand dollar against the US dollar."
You can do the same right now. Have a look at last week and the Kiwi dollar's been falling for quite a while against the US. By the way that fall started at a round number, it was 74, 0.7400. I said to him, "As the price is falling, everybody's going to be selling the New Zealand dollar but," I said, "be careful because strength and weakness. Yes it's falling but be careful of the next big round number of 0.7000, the $0.70 level."
Go have a look at your charts. Right now the price came down to just below that level, it hit a perfect high, which by the way was from the 9th of November, just below the 70 level, so it took out a whole heap of stops, got people in on sell trades going further down, and it's reacted at around that 70 level and right now it's pulled back. Right now, as I'm recalling this being Friday here in New Zealand, it's at 70.50, so 0.7050. It's now stalled at the next round number. No surprises there for me because these numbers are so powerful.
I was able to say to him, "Yes, Strength and Weakness says the Kiwi's dropping, definitely." But be careful. Look at where it is in the chart, look it's at bottom Bollinger Band area. It's at a previous support and resistance level and it's at a very, very strong psychological bounce level. Do not just sell it because you're going to sell it. Think of reasons why, look for proper reasons to sell it. Don't just go ahhh, the Kiwi's weak, I'm just going to sell. That's not going to make you money. Look at where the price is. Okay, it's at 70, oh it's bouncing. Okay,]]>https://theforextradingcoach.com/?p=7737Sun, 06 May 2018 21:00:04 +0000Andrew MitchemPodcast: Why Round Numbers Work In this weekly video: 00:33 – What is a Round Number? 01:10 – People move to the market 01:45 – The NZD/USD chart example with the price at 0.7000 03:54 – The EUR/AUD reacts at 1.6000 04:30 – Get my Round Numbers...
Why Round Numbers Work
In this weekly video:
00:33 – What is a Round Number?
01:10 – People move to the market
01:45 – The NZD/USD chart example with the price at 0.7000
03:54 – The EUR/AUD reacts at 1.6000
04:30 – Get my Round Numbers indicator – Link is on this page
I'm going to talk about why round numbers work in the Forex market. They just do. Let's find out more about that right now.
Hey Forex Traders, Andrew Mitchem here. The Forex Trading Coach video and podcast number 271. This is all about the importance of round numbers, how to use them, and why they work. Really, really important video so listen up.
What is a Round Number?
Round numbers, what are they? Well I call a round number a price level that ends in a 00 or a 50. Two very powerful levels. Think about it this way, when you go to a shop you will buy something for $19.95 or $19.90, but you won't buy at $20.00 or $20.05. You're buying a house, you're looking at a nice big house. Would you a pay $1,500,000 for it or would you pay $995,000 for it? It's all about that strong level. When the price gets to a certain level, people react.
People move to the market
Because after all the market is moved by people and emotion and reactions, whether it be to news events or price levels. It's people that move the market. Even with algorithms in the market, of which there's an enormous amount, they're still coded to look for certain events and certain reactions. You can look through your charts, all over charts, and see how round numbers react; or the price reacts at round numbers, I should say. It's more that way around. The price stalls or changes directions at round numbers.
The NZD/USD chart example with the price at 0.7000
I'll give you an example. I had a phone call this week, on Wednesday my time, from a client who lives locally … I'm sorry from a contact, not a client. He wanted to become a client. He lives locally. He said to me, "Hey Andrew, you're talking about Strength and Weakness and daily directions and all this sort of things. How do you pick them?" I gave him an example and because he lives in New Zealand I said, "Look, go have a look at the New Zealand dollar against the US dollar."
You can do the same right now. Have a look at last week and the Kiwi dollar's been falling for quite a while against the US. By the way that fall started at a round number, it was 74, 0.7400. I said to him, "As the price is falling, everybody's going to be selling the New Zealand dollar but," I said, "be careful because strength and weakness. Yes it's falling but be careful of the next big round number of 0.7000, the $0.70 level."
Go have a look at your charts. Right now the price came down to just below that level, it hit a perfect high, which by the way was from the 9th of November, just below the 70 level, so it took out a whole heap of stops, got people in on sell trades going further down, and it's reacted at around that 70 level and right now it's pulled back. Right now, as I'm recalling this being Friday here in New Zealand, it's at 70.50, so 0.7050. It's now stalled at the next round number. No surprises there for me because these numbers are so powerful.
I was able to say to him, "Yes, Strength and Weakness says the Kiwi's dropping, definitely." But be careful. Look at where it is in the chart, look it's at bottom Bollinger Band area. It's at a previous support and resistance level and it's at a very, very strong psychological bounce level. Do not just sell it because you're going to sell it. Think of reasons why, look for proper reasons to sell it. Don't just go ahhh, the Kiwi's weak, I'm just going to sell. That's not going to make you money. Look at where the price is. Okay, it's at 70, oh it's bouncing. Okay,]]>330falsefullhttps://www.spreaker.com/episode/270-why-the-longer-time-frame-charts-can-help-your-trading--14663152
Why The Longer Time Frame Charts Can Help Your Trading
In this weekly video:
00:38 – Being able to trade and travel
01:05 – Interview with a Full Time Forex Trader
01:43 – Trading the Longer Time Frame Charts
02:22 – Trade in a way that allows longevity
04:18 – Do the professionals trade 5 minute charts
04:45 – Celebrating 9 years of The Forex Trading Coach helping traders
06:12 – Now it’s your turn to join us
I'm going to explain to you why I love trading the longer timeframe charts and how they could help you in so many ways. Let's get into that right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 270 coming to you from beautiful Queenstown in the South Island of New Zealand. School holidays here in New Zealand and we're at our holiday home here in Queenstown having a great time.
Being able to trade and travel
Just got me thinking about so many things to do with trading because part of trading is being able to travel. It's being able to not be glued to your computer. It's being able to do things like this, come to places like this and still continue to trade. I love trading. I don't want to stop trading. I trade every day. But while I'm here, I don't want to be glued to my charts all day. It will mad. There's just no point in being here.
Interview with a Full Time Forex Trader
It also got me to think about last week when I interviewed Imre Gams, who's a client of mine in Canada, who's now a full-time Forex trader, and Imre was looking at the longer timeframe charts and going down from the weekly charts and matching the strengths and weaknesses of the weekly charts with the data charts, et cetera, and basically pulling things together to give a higher probability chance of success, and that is what the longer timeframe charts give you.
Before you start thinking, "Andrew, I can't trade the longer timeframe charts because my account is not big enough." That's not actually quite true, but we'll talk about that on another video.
Trading the Longer Time Frame Charts
The longer timeframe charts are available for anybody to trade, regardless of your level experience or your account size. In fact, the newer you are to trading, I'd actually suggest that you just look at the longer timeframe charts anyway, because everybody gets involved in wanting to look at the shorter timeframe charts, looking at every pit movement up and down, scared to miss trades, being glued to their charts. Yes, while you're learning, understanding how the charts move and how price moves is really good. It's very important, and we've all been there, been really excited to see our account move up and get disappointed when it moves down. But long term, that's not a good way of trading.
Trade in a way that allows longevity
Long term, it's got to be something that's practical, that it's something that's enjoyable, and when you think about it, the bigger the higher timeframe chart you trade, the more information is contained within that one candle or that one bar. Therefore, the more reliability that candle or that one bar has. That's why I like trading … See, this week I traded the weekly charts on Monday. I've taken six trades on the weekly charts. I took two trades on Monday on the daily charts, one yesterday Tuesday, and one today Wednesday. I'm recording this bit early, because I'll be on a plane on Friday when I'm normally recording the weekly videos. So far, those daily trades have worked beautifully, and a couple of the weekly chart trades are in as well.
On top of that, I look at the 12 and 6 hour charts just twice a day and that's it. You can do that from being on holiday, and that's the great thing about it. It's all about having something that's reliable. The bigger the timeframe chart,]]>https://theforextradingcoach.com/?p=7728Sun, 29 Apr 2018 20:54:15 +0000Andrew MitchemPodcast: Why The Longer Time Frame Charts Can Help Your Trading In this weekly video: 00:38 – Being able to trade and travel 01:05 – Interview with a Full Time Forex Trader 01:43 – Trading the Longer Time Frame Charts 02:22 – Trade in a way that...
Why The Longer Time Frame Charts Can Help Your Trading
In this weekly video:
00:38 – Being able to trade and travel
01:05 – Interview with a Full Time Forex Trader
01:43 – Trading the Longer Time Frame Charts
02:22 – Trade in a way that allows longevity
04:18 – Do the professionals trade 5 minute charts
04:45 – Celebrating 9 years of The Forex Trading Coach helping traders
06:12 – Now it’s your turn to join us
I'm going to explain to you why I love trading the longer timeframe charts and how they could help you in so many ways. Let's get into that right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 270 coming to you from beautiful Queenstown in the South Island of New Zealand. School holidays here in New Zealand and we're at our holiday home here in Queenstown having a great time.
Being able to trade and travel
Just got me thinking about so many things to do with trading because part of trading is being able to travel. It's being able to not be glued to your computer. It's being able to do things like this, come to places like this and still continue to trade. I love trading. I don't want to stop trading. I trade every day. But while I'm here, I don't want to be glued to my charts all day. It will mad. There's just no point in being here.
Interview with a Full Time Forex Trader
It also got me to think about last week when I interviewed Imre Gams, who's a client of mine in Canada, who's now a full-time Forex trader, and Imre was looking at the longer timeframe charts and going down from the weekly charts and matching the strengths and weaknesses of the weekly charts with the data charts, et cetera, and basically pulling things together to give a higher probability chance of success, and that is what the longer timeframe charts give you.
Before you start thinking, "Andrew, I can't trade the longer timeframe charts because my account is not big enough." That's not actually quite true, but we'll talk about that on another video.
Trading the Longer Time Frame Charts
The longer timeframe charts are available for anybody to trade, regardless of your level experience or your account size. In fact, the newer you are to trading, I'd actually suggest that you just look at the longer timeframe charts anyway, because everybody gets involved in wanting to look at the shorter timeframe charts, looking at every pit movement up and down, scared to miss trades, being glued to their charts. Yes, while you're learning, understanding how the charts move and how price moves is really good. It's very important, and we've all been there, been really excited to see our account move up and get disappointed when it moves down. But long term, that's not a good way of trading.
Trade in a way that allows longevity
Long term, it's got to be something that's practical, that it's something that's enjoyable, and when you think about it, the bigger the higher timeframe chart you trade, the more information is contained within that one candle or that one bar. Therefore, the more reliability that candle or that one bar has. That's why I like trading … See, this week I traded the weekly charts on Monday. I've taken six trades on the weekly charts. I took two trades on Monday on the daily charts, one yesterday Tuesday, and one today Wednesday. I'm recording this bit early, because I'll be on a plane on Friday when I'm normally recording the weekly videos. So far, those daily trades have worked beautifully, and a couple of the weekly chart trades are in as well.
On top of that, I look at the 12 and 6 hour charts just twice a day and that's it. You can do that from being on holiday, and that's the great thing about it. It's all about having something that's reliable. The bigger the timeframe chart,]]>466falsefullhttps://www.spreaker.com/episode/269-becoming-a-full-time-forex-trader--14602139
Becoming a Full Time Forex Trader
In this weekly video:
00:25 – Living the dream and becoming a full time Forex trader
01:10 – Client becomes a full time Forex trader after seeking a mentor
02:10 – A lot of dedication and back testing to prove the system to himself
02:52 – Making 5% return on trading account per week
03:46 – Watch the interview with Imre
04:21 – Be realistic about your trading expectations
05:25 – The hard work pays off
Would you like to quit your job to become a full time Forex trader? If the answer is yes, this video is for you.
Hey, traders, Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 269. Got some really exciting news to share with you.
Living the dream and becoming a full time Forex trader
Would you like to live the dream? Would you like to work from home and work from anywhere, quit your job, become a full-time Forex trader? Because that's what most people who get into Forex want, don't you? That's what most people really aim for. And it can be done.
Now, I know it can be done because I've had many clients do that, but just this week I've interviewed another client who has taken that step to becoming a full-time Forex trader. He's quit his job, his name is Imre Gams, he lives in Toronto in Canada, a real, nice, smart, intelligent, young man. He's worked for Google, he's worked for Apple, so he's right up there with being a very smart guy.
Client becomes a full time Forex trader after seeking a mentor
He took my course back in August of 2017, some eight months ago, and I interviewed him, and I asked him what the process was that he went through. He's been through Brazilian jiu-jitsu, he's been a fencer, as in the sport fencing, he's done many things in his life that he's always sought a mentor for, because he's seen it as a shortcut to success with a good mentor.
So, he did some reviews, he found my course a while ago, joined last August and basically has been very thorough with everything he's done. You can hear the interview. It's on my homepage. I'll put a link below this video. It's 38 minutes long. It is highly, highly recommended if you watch the entire thing. There is so much you can learn from that video, even if you just want passive income from Forex, but just watch the entire video. Take your time, grab a coffee or a cup of tea or something and sit and watch the whole thing.
A lot of dedication and back testing to prove the system to himself
Imre started back in August 2017, went through the course, he's been dedicated, he's asked questions, et cetera, like a lot of people. But he's done extensive backtesting on the course, he had huge confidence after doing extensive backtesting, and then a few months ago he decided to quit his job and go live.
Now, a few weeks ago he started sending me emails of some of the money withdrawals he's taken from his account, from his live trading. Very, very, very impressive figures. Not going to reveal how much. That's private information for him. But it's well into the six figures that he's withdrawn just this last quarter.
Making 5% return on trading account per week
And as he said to me, "I've made more in the last quarter than I made in the entire last year." And he's now, as he said, living the dream. He's working from home, he's making around 5% return on his account per week with very low-risk trading, very low drawdowns, and only about one hour of actual trading per day.
He is spending more time with his continued learning, his self-development, his self-education. His whole knowledge-base is constantly growing, and he puts time and dedication into that. He's spending a lot of time each day with backtesting, looking at different ways of trading my strategy, different timeframes, et cetera,]]>https://theforextradingcoach.com/?p=7719Sat, 21 Apr 2018 20:30:47 +0000Andrew MitchemPodcast: Becoming a Full Time Forex Trader In this weekly video: 00:25 – Living the dream and becoming a full time Forex trader 01:10 – Client becomes a full time Forex trader after seeking a mentor 02:10 – A lot of dedication and back testing to...
Becoming a Full Time Forex Trader
In this weekly video:
00:25 – Living the dream and becoming a full time Forex trader
01:10 – Client becomes a full time Forex trader after seeking a mentor
02:10 – A lot of dedication and back testing to prove the system to himself
02:52 – Making 5% return on trading account per week
03:46 – Watch the interview with Imre
04:21 – Be realistic about your trading expectations
05:25 – The hard work pays off
Would you like to quit your job to become a full time Forex trader? If the answer is yes, this video is for you.
Hey, traders, Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 269. Got some really exciting news to share with you.
Living the dream and becoming a full time Forex trader
Would you like to live the dream? Would you like to work from home and work from anywhere, quit your job, become a full-time Forex trader? Because that's what most people who get into Forex want, don't you? That's what most people really aim for. And it can be done.
Now, I know it can be done because I've had many clients do that, but just this week I've interviewed another client who has taken that step to becoming a full-time Forex trader. He's quit his job, his name is Imre Gams, he lives in Toronto in Canada, a real, nice, smart, intelligent, young man. He's worked for Google, he's worked for Apple, so he's right up there with being a very smart guy.
Client becomes a full time Forex trader after seeking a mentor
He took my course back in August of 2017, some eight months ago, and I interviewed him, and I asked him what the process was that he went through. He's been through Brazilian jiu-jitsu, he's been a fencer, as in the sport fencing, he's done many things in his life that he's always sought a mentor for, because he's seen it as a shortcut to success with a good mentor.
So, he did some reviews, he found my course a while ago, joined last August and basically has been very thorough with everything he's done. You can hear the interview. It's on my homepage. I'll put a link below this video. It's 38 minutes long. It is highly, highly recommended if you watch the entire thing. There is so much you can learn from that video, even if you just want passive income from Forex, but just watch the entire video. Take your time, grab a coffee or a cup of tea or something and sit and watch the whole thing.
A lot of dedication and back testing to prove the system to himself
Imre started back in August 2017, went through the course, he's been dedicated, he's asked questions, et cetera, like a lot of people. But he's done extensive backtesting on the course, he had huge confidence after doing extensive backtesting, and then a few months ago he decided to quit his job and go live.
Now, a few weeks ago he started sending me emails of some of the money withdrawals he's taken from his account, from his live trading. Very, very, very impressive figures. Not going to reveal how much. That's private information for him. But it's well into the six figures that he's withdrawn just this last quarter.
Making 5% return on trading account per week
And as he said to me, "I've made more in the last quarter than I made in the entire last year." And he's now, as he said, living the dream. He's working from home, he's making around 5% return on his account per week with very low-risk trading, very low drawdowns, and only about one hour of actual trading per day.
He is spending more time with his continued learning, his self-development, his self-education. His whole knowledge-base is constantly growing, and he puts time and dedication into that. He's spending a lot of time each day with backtesting, looking at different ways of trading my strategy, different timeframes, et cetera,]]>404falsefullhttps://www.spreaker.com/episode/268-which-time-frame-charts-should-you-trade--14545752
Which Time Frame Charts Should You Trade?
In this weekly video:
00:29 – Understanding which time frame chart to trade
01:14 – What can you do to select the right chart to trade
01:56 – Examples of how to select the best time frame
02:52 – Live webinar with my clients
03:53 – I took trades live on the webinar for excellent profit of +1.5% gain
05:15 – Don’t always trade just 1 time frame chart as you’ll limit options
06:45 – Live Webinar – Free to attend for non-clients
How do you know which currency timeframe you should be trading? Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, owner of the Forex Trading Coach with video and podcast number 268. I want to talk to you about a really common problem that almost all currency traders go through
Understanding which time frame chart to trade
It's all about understanding which timeframe chart you should be trading. You see, a lot of people get really confused by this. They think that they must be needing to trade short timeframe charts because that's where the price action is, right? That's what everybody tells you, you need to be trading five minute charts and scalping, looking for all these small movements within the overall flow of the day. A lot of people also get confused with thinking that I can't trade longer timeframe charts because the stop loss needs to be too big, and I don't have a big enough account size. So there's all these misconceptions there; both of which, by the way, are completely wrong. There are ways around all of these things.
What can you do to select the right chart to trade
What can you do to select which timeframe chart you need to trade? Well, a lot of it comes down to having the ability to be open and flexible and to basically see what's happening in the market right now, because no one really knows like next week what's going to happen. No one knows. You can have predictions and economists and all these type of things going on, but really nobody knows what's going to happen. All we can do is see what's happening right now. So to give you a great example. Today is Friday … It's Friday the 13th. It's Friday the 13th of April, 2018, when I'm recording this right now.
Examples of how to select the best time frame
This last week has been very, very poor for trading the daily charts. There have been very few set ups. I love trading the daily charts, and I post daily chart set ups to my clients on our membership site and there have been very few this week. So it's not to say that everybody has missed out, it's to say that the daily charts for whatever reason, and it's quite rare, but for whatever reason have not produced very many high quality set ups this week.
Also, the weekly charts this week on Monday there were no suitable, in my opinion, weekly chart set ups. Now the weekly charts are less surprising, because last week was Easter and then on last Friday we had the US monthly job report, so not a lot happened last week. So I can understand the weekly charts for this particular week not showing a great deal. However, it's been quite an unusual week in that the daily charts, the longer timeframes, have not shown much also.
Live webinar with my clients
However, I took a webinar last night … I had a live, two hour webinar with my clients like I do every two weeks. By the way, every week in between Paul Tillman holds the US webinar sessions. So clients get a weekly two hour webinar. But last night I held a webinar. Two hours long, and on that webinar I showed many, many great examples from just this week of the six hour chart trades showing some very good quality set ups. Also in general it was the commodity currencies, the New Zealand dollar, the Canadian dollar, the Aussie dollar,]]>https://theforextradingcoach.com/?p=7704Sun, 15 Apr 2018 20:54:19 +0000Andrew MitchemPodcast: Which Time Frame Charts Should You Trade? In this weekly video: 00:29 – Understanding which time frame chart to trade 01:14 – What can you do to select the right chart to trade 01:56 – Examples of how to select the best time frame 02:52...
Which Time Frame Charts Should You Trade?
In this weekly video:
00:29 – Understanding which time frame chart to trade
01:14 – What can you do to select the right chart to trade
01:56 – Examples of how to select the best time frame
02:52 – Live webinar with my clients
03:53 – I took trades live on the webinar for excellent profit of +1.5% gain
05:15 – Don’t always trade just 1 time frame chart as you’ll limit options
06:45 – Live Webinar – Free to attend for non-clients
How do you know which currency timeframe you should be trading? Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, owner of the Forex Trading Coach with video and podcast number 268. I want to talk to you about a really common problem that almost all currency traders go through
Understanding which time frame chart to trade
It's all about understanding which timeframe chart you should be trading. You see, a lot of people get really confused by this. They think that they must be needing to trade short timeframe charts because that's where the price action is, right? That's what everybody tells you, you need to be trading five minute charts and scalping, looking for all these small movements within the overall flow of the day. A lot of people also get confused with thinking that I can't trade longer timeframe charts because the stop loss needs to be too big, and I don't have a big enough account size. So there's all these misconceptions there; both of which, by the way, are completely wrong. There are ways around all of these things.
What can you do to select the right chart to trade
What can you do to select which timeframe chart you need to trade? Well, a lot of it comes down to having the ability to be open and flexible and to basically see what's happening in the market right now, because no one really knows like next week what's going to happen. No one knows. You can have predictions and economists and all these type of things going on, but really nobody knows what's going to happen. All we can do is see what's happening right now. So to give you a great example. Today is Friday … It's Friday the 13th. It's Friday the 13th of April, 2018, when I'm recording this right now.
Examples of how to select the best time frame
This last week has been very, very poor for trading the daily charts. There have been very few set ups. I love trading the daily charts, and I post daily chart set ups to my clients on our membership site and there have been very few this week. So it's not to say that everybody has missed out, it's to say that the daily charts for whatever reason, and it's quite rare, but for whatever reason have not produced very many high quality set ups this week.
Also, the weekly charts this week on Monday there were no suitable, in my opinion, weekly chart set ups. Now the weekly charts are less surprising, because last week was Easter and then on last Friday we had the US monthly job report, so not a lot happened last week. So I can understand the weekly charts for this particular week not showing a great deal. However, it's been quite an unusual week in that the daily charts, the longer timeframes, have not shown much also.
Live webinar with my clients
However, I took a webinar last night … I had a live, two hour webinar with my clients like I do every two weeks. By the way, every week in between Paul Tillman holds the US webinar sessions. So clients get a weekly two hour webinar. But last night I held a webinar. Two hours long, and on that webinar I showed many, many great examples from just this week of the six hour chart trades showing some very good quality set ups. Also in general it was the commodity currencies, the New Zealand dollar, the Canadian dollar, the Aussie dollar,]]>470falsefullhttps://www.spreaker.com/episode/267-join-me-on-a-live-forex-webinar-ask-me-anything--14487454
Join me on a LIVE Forex webinar – Ask me anything
In this weekly video:
00:29 – I’ll answer your Forex question on a live webinar
01:22 – Not your usual Forex webinar
01:53 – What is your question?
03:08 – Don’t miss this opportunity
04:11 – Fill out the form on the link below
Would you like to have the opportunity to join me on a live Forex Webinar where I answer your personal question? If you would, listen up, we've got some great news for you.
Hi Forex traders, Andrew Mitchem, the Forex Trading Coach, a Video and Podcast Number 267 and something different for this week.
I’ll answer your Forex question on a live webinar
For the last 266 videos and podcasts I've been explaining information about how I trade and how I can help you but for today I'd like to change the roles a bit and ask you a question. You see, I'm looking at holding a live webinar really shortly and I'm going to be joined on that live webinar by Paul Tillman who's a client of mine. Paul joined me just over three years ago, he lives in North Carolina over in the US.
Due to Paul's amazing trading success after he took my course, he's now joining me at the Forex Trading Coach. He takes my live US webinars, helps on my forum site as a moderator. I'm going to be joined by Paul on the live webinar but what we're going to do on that session is answer your Forex questions.
Not your usual Forex webinar
On that session we're not going to have PowerPoint presentations, we're not going to have slides, we're not going to have all this background about us, you kind of already know that already or you can find it out. We're not going to do 20 minutes of waffle, it's going to be only Forex related questions and answers and suggestions using just our cameras and our screen, that's all it's going to be, no PowerPoints at all.
It's going to be quite different to any other Forex webinar that you've been on because what I'm going to do is answer your question.
What is your question?
Below this video you'll find, or somewhere on this page below here, you're going to find a link through to a survey form and it's just one question only. It's not a big, long survey that's going to take you ages, it's one question. All I'm asking you is this. What is that number one, single biggest issue or biggest problem that's holding you back or preventing you from being a profitable Forex trader?
Now, it could be any number of things but try and think of what the biggest thing. You can put several if you want but try and think of what would be the main factor. It could be a number of things. Give you some examples, it could be a lack of a good strategy, a lack of understanding the market, do you want to be a technical or fundamental trader? You're feeling all alone with your trading, you've got confusion, you don't know what timeframes to trade, you don't know where to put your stock loss or profit target, you don't know how to trade the news, you don't have enough funds to trade, all sorts of different things.
Tell me on that questionnaire your number one problem and what will then happen, once you submit that questionnaire, I'll then send you a link to the live webinar.
Don’t miss this opportunity
Look, I really don't do this very often for the public. Of course I hold live webinars for my clients weekly but for just general public, general traders who are not coaching clients, I don't do this very often so take advantage of this opportunity to join myself and Paul live. We will answer every question on that webinar
.
It's going to be an incredible webinar, an incredible experience and an opportunity for you to gain not just the answer to your question but to listen and to understand the questions and the answers and the solutions that we give to all the other questions that...]]>https://theforextradingcoach.com/?p=7697Sun, 08 Apr 2018 20:30:05 +0000Andrew MitchemPodcast: Join me on a LIVE Forex webinar – Ask me anything In this weekly video: 00:29 – I’ll answer your Forex question on a live webinar 01:22 – Not your usual Forex webinar 01:53 – What is your question? 03:08 – Don’t miss this opportunity...
Join me on a LIVE Forex webinar – Ask me anything
In this weekly video:
00:29 – I’ll answer your Forex question on a live webinar
01:22 – Not your usual Forex webinar
01:53 – What is your question?
03:08 – Don’t miss this opportunity
04:11 – Fill out the form on the link below
Would you like to have the opportunity to join me on a live Forex Webinar where I answer your personal question? If you would, listen up, we've got some great news for you.
Hi Forex traders, Andrew Mitchem, the Forex Trading Coach, a Video and Podcast Number 267 and something different for this week.
I’ll answer your Forex question on a live webinar
For the last 266 videos and podcasts I've been explaining information about how I trade and how I can help you but for today I'd like to change the roles a bit and ask you a question. You see, I'm looking at holding a live webinar really shortly and I'm going to be joined on that live webinar by Paul Tillman who's a client of mine. Paul joined me just over three years ago, he lives in North Carolina over in the US.
Due to Paul's amazing trading success after he took my course, he's now joining me at the Forex Trading Coach. He takes my live US webinars, helps on my forum site as a moderator. I'm going to be joined by Paul on the live webinar but what we're going to do on that session is answer your Forex questions.
Not your usual Forex webinar
On that session we're not going to have PowerPoint presentations, we're not going to have slides, we're not going to have all this background about us, you kind of already know that already or you can find it out. We're not going to do 20 minutes of waffle, it's going to be only Forex related questions and answers and suggestions using just our cameras and our screen, that's all it's going to be, no PowerPoints at all.
It's going to be quite different to any other Forex webinar that you've been on because what I'm going to do is answer your question.
What is your question?
Below this video you'll find, or somewhere on this page below here, you're going to find a link through to a survey form and it's just one question only. It's not a big, long survey that's going to take you ages, it's one question. All I'm asking you is this. What is that number one, single biggest issue or biggest problem that's holding you back or preventing you from being a profitable Forex trader?
Now, it could be any number of things but try and think of what the biggest thing. You can put several if you want but try and think of what would be the main factor. It could be a number of things. Give you some examples, it could be a lack of a good strategy, a lack of understanding the market, do you want to be a technical or fundamental trader? You're feeling all alone with your trading, you've got confusion, you don't know what timeframes to trade, you don't know where to put your stock loss or profit target, you don't know how to trade the news, you don't have enough funds to trade, all sorts of different things.
Tell me on that questionnaire your number one problem and what will then happen, once you submit that questionnaire, I'll then send you a link to the live webinar.
Don’t miss this opportunity
Look, I really don't do this very often for the public. Of course I hold live webinars for my clients weekly but for just general public, general traders who are not coaching clients, I don't do this very often so take advantage of this opportunity to join myself and Paul live. We will answer every question on that webinar
.
It's going to be an incredible webinar, an incredible experience and an opportunity for you to gain not just the answer to your question but to listen and to understand the questions and the answers and the solutions that we give to all the other questions that...]]>297falsefullhttps://www.spreaker.com/episode/266-why-you-should-never-use-a-fixed-stop-loss--14382089
Why You Should Never Use a Fixed Stop Loss
In this weekly video:
00:26 – Where should I put my stop loss and profit target?
00:53 – Every trade is different
01.26 – Each currency pair has different characteristics
02:10 – What time frame chart, what time of the day?
02:44 – Put your stop loss and profit target according to the market conditions
03:40 – How I trade
05:17 – Teaching and helping traders for 9 years at www.TheForexTradingCoach.com
I'm going to explain why you should never use a fixed stop loss, or even a fixed profit target, on every single trade. Let's get into that and more right now.
Hi Forex traders, it's Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 266.
Where should I put my stop loss and profit target?
Now a question that I get asked so many times, every single day; it's all about, "Hey Andrew, where should I put my stop loss? Where should I put my profit target? How many pips should I risk on each trade? I like to risk 15 pips and therefore how can I trade the daily charts?" All sorts of really interesting questions like that. Generally it comes back to people's misunderstanding of market conditions and how to trade properly.
Every trade is different
Because you see in my opinion, you should never, ever, ever think about using the same stop loss or the same profit target on all trades, because every trade is different. Every trade the market conditions change all the time. When people come to me and say, "Hey Andrew I want to risk 15 pips on a trade," it's like well, why would you do that? What is the point? What's the relevance? What's the reason? Why not 17 pips or 12 pips? But either way, don't use a fixed stop loss because it's meaningless. Let me explain why.
Each currency pair has different characteristics
Each currency pair has different characteristics. For example, if you looked at the average range on the Euro/New Zealand or the Pound/New Zealand, let's say. Maybe several hundred pips per day it might move. But you then look at a pair like the Euro/Franc or the Euro/Pound, and it might move 50 pips in a day. But 50 pips on the Euro/Pound could be quite a big move. Whereas 150 pips on the Pound/New Zealand in a day could be quite a small move. It's a relative to the currency pair that you are trading.
But it's more than just that. Of course, you need to be aware that different currency pairs pair at different amounts per pip also.
What time frame chart, what time of the day?
Take that a step further; depends on what timeframe you're trading. It depends on the time of the day, possibly. Is it in the Asian session when generally not much happens? Is it in the European or US session? What month is it? What time of year and the conditions are right now? If it's Northern Hemisphere Summer season, the market might be a little bit flat. Now this week, heading into next week, we're coming up to the week before Easter. Conditions may be very, very flat, or they could be very, very volatile. We just don't know.
Put your stop loss and profit target according to the market conditions
The only real way you can do this is to put your stop loss and your profit target according to the market conditions right now. Because I can't say that I'm going to put a 25 pip stop on a Euro/US dollar one hour chart next week, because next week it could be really, really flat or it could be really volatile depending on all sorts of news events. As I said, leading up to Easter all sorts of things that right now I don't know what's going to happen.
But what I do know is that when I see a technical set up on a chart, if I put my stop loss at a set level it's irrelevant. If I put my stop loss at a level that's applicable for that trade on that timeframe on that currenc...]]>https://theforextradingcoach.com/?p=7673Sun, 25 Mar 2018 21:09:02 +0000Andrew MitchemPodcast: Why You Should Never Use a Fixed Stop Loss In this weekly video: 00:26 – Where should I put my stop loss and profit target? 00:53 – Every trade is different 01.26 – Each currency pair has different characteristics 02:10 – What time frame...
Why You Should Never Use a Fixed Stop Loss
In this weekly video:
00:26 – Where should I put my stop loss and profit target?
00:53 – Every trade is different
01.26 – Each currency pair has different characteristics
02:10 – What time frame chart, what time of the day?
02:44 – Put your stop loss and profit target according to the market conditions
03:40 – How I trade
05:17 – Teaching and helping traders for 9 years at www.TheForexTradingCoach.com
I'm going to explain why you should never use a fixed stop loss, or even a fixed profit target, on every single trade. Let's get into that and more right now.
Hi Forex traders, it's Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 266.
Where should I put my stop loss and profit target?
Now a question that I get asked so many times, every single day; it's all about, "Hey Andrew, where should I put my stop loss? Where should I put my profit target? How many pips should I risk on each trade? I like to risk 15 pips and therefore how can I trade the daily charts?" All sorts of really interesting questions like that. Generally it comes back to people's misunderstanding of market conditions and how to trade properly.
Every trade is different
Because you see in my opinion, you should never, ever, ever think about using the same stop loss or the same profit target on all trades, because every trade is different. Every trade the market conditions change all the time. When people come to me and say, "Hey Andrew I want to risk 15 pips on a trade," it's like well, why would you do that? What is the point? What's the relevance? What's the reason? Why not 17 pips or 12 pips? But either way, don't use a fixed stop loss because it's meaningless. Let me explain why.
Each currency pair has different characteristics
Each currency pair has different characteristics. For example, if you looked at the average range on the Euro/New Zealand or the Pound/New Zealand, let's say. Maybe several hundred pips per day it might move. But you then look at a pair like the Euro/Franc or the Euro/Pound, and it might move 50 pips in a day. But 50 pips on the Euro/Pound could be quite a big move. Whereas 150 pips on the Pound/New Zealand in a day could be quite a small move. It's a relative to the currency pair that you are trading.
But it's more than just that. Of course, you need to be aware that different currency pairs pair at different amounts per pip also.
What time frame chart, what time of the day?
Take that a step further; depends on what timeframe you're trading. It depends on the time of the day, possibly. Is it in the Asian session when generally not much happens? Is it in the European or US session? What month is it? What time of year and the conditions are right now? If it's Northern Hemisphere Summer season, the market might be a little bit flat. Now this week, heading into next week, we're coming up to the week before Easter. Conditions may be very, very flat, or they could be very, very volatile. We just don't know.
Put your stop loss and profit target according to the market conditions
The only real way you can do this is to put your stop loss and your profit target according to the market conditions right now. Because I can't say that I'm going to put a 25 pip stop on a Euro/US dollar one hour chart next week, because next week it could be really, really flat or it could be really volatile depending on all sorts of news events. As I said, leading up to Easter all sorts of things that right now I don't know what's going to happen.
But what I do know is that when I see a technical set up on a chart, if I put my stop loss at a set level it's irrelevant. If I put my stop loss at a level that's applicable for that trade on that timeframe on that currenc...]]>394falsefullhttps://www.spreaker.com/episode/265-copy-my-trades-automagically--14323474
Copy My Trades, Automagically!
In this weekly video:
00:28 – Have your own account traded from my personal FX account
00:56 – Our aim is to be profitable traders
01:38 – My manual strategy traded by an algorithm
02:23 – 100% traded automatically on your account
02:56 – All months have been profitable to date
04:06 – Using 4xSolutions to copy my trades
05:27 – How to find out more and to join
Would you like to have my personal trades copied onto your account auto-magically? If you would, listen up. I've got some very exciting news for you.
Hi traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 265, and I've got some exciting news to share with you.
Have your own account traded from my personal FX account
I'm wanting to give you the opportunity to have your own personal account traded auto-magically by using my own personal trades. In other words, without having to do absolutely anything at all, no placing trades, no getting text alerts, nothing at all like that, you can have your own MT4 account traded with the identical trades that I have myself.
Our aim is to be profitable traders
Let me explain more. So as traders, of course, all we want to do is to be profitable. That's the whole aim of being a Forex Trader, and we have the option of being manual trading or automated trading.
Automated trading means having an algorithm or an expert advisor or a trading robot. It's all basically the same thing – different names for the same thing. I've been trading Forex for 15 years, and over that time, I have just been inundated like I'm sure you have been with lots of expert advisors, Forex robots, promising absolute everything. Not one of them, have I ever seen that's been commercially available, has ever made money.
My manual strategy traded by an algorithm
However, what I've done over the last number of year is I've worked really hard to have my manual trading strategy put into an algorithm so it's being coded with my manual trading strategy logic. I don't want to be up 24 hours a day trading the Forex market. Also, I'm not personally a fan of trading the shorter timeframe charts. I much prefer with my manual trading to be trading the longer timeframe charts because it means I don't need to spend very much time looking at the charts. For me, my full-day trading involves no more than about 30 minutes of actual looking at charts. It's great because I can trade full-time like that, but what I've done is I've actually got my system and strategy automated to scan the shorter timeframe charts.
100% traded automatically on your account
That's what I'm offering you, a 100% fully automated robot trading algorithm, which can auto-magically be traded on your account for you.
I've been extensively back-testing and live-testing this strategy for a long, long time now, and in November 2017, I took the strategy on a live account, and it's been published. The results have been published on my FX book, which is a 100% fully automated and verified trading system. In that time, so we've now had 4 completed months, 4 full months of so far being profitable. The strategy until today, which is the 16th of March has been averaging 3.3% account gain per month, and so who knows what's going to happen in the future? You just cannot tell, but with extensive back-testing and now some forward-testing and live-testing, the strategy is performing extremely well. It's having about a 70% winning success rate, so around 7 out of 10 trades that it takes are profitable, and we're averaging 3.3% account gain.
It's important to understand that for some people 3.3% per month sounds really, really low for Forex, but it's really important to understand that you need to minimise your risk as a Forex trader.]]>https://theforextradingcoach.com/?p=7665Sun, 18 Mar 2018 21:54:55 +0000Andrew MitchemPodcast: Copy My Trades, Automagically! In this weekly video: 00:28 – Have your own account traded from my personal FX account 00:56 – Our aim is to be profitable traders 01:38 – My manual strategy traded by an algorithm 02:23 – 100% traded...
Copy My Trades, Automagically!
In this weekly video:
00:28 – Have your own account traded from my personal FX account
00:56 – Our aim is to be profitable traders
01:38 – My manual strategy traded by an algorithm
02:23 – 100% traded automatically on your account
02:56 – All months have been profitable to date
04:06 – Using 4xSolutions to copy my trades
05:27 – How to find out more and to join
Would you like to have my personal trades copied onto your account auto-magically? If you would, listen up. I've got some very exciting news for you.
Hi traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 265, and I've got some exciting news to share with you.
Have your own account traded from my personal FX account
I'm wanting to give you the opportunity to have your own personal account traded auto-magically by using my own personal trades. In other words, without having to do absolutely anything at all, no placing trades, no getting text alerts, nothing at all like that, you can have your own MT4 account traded with the identical trades that I have myself.
Our aim is to be profitable traders
Let me explain more. So as traders, of course, all we want to do is to be profitable. That's the whole aim of being a Forex Trader, and we have the option of being manual trading or automated trading.
Automated trading means having an algorithm or an expert advisor or a trading robot. It's all basically the same thing – different names for the same thing. I've been trading Forex for 15 years, and over that time, I have just been inundated like I'm sure you have been with lots of expert advisors, Forex robots, promising absolute everything. Not one of them, have I ever seen that's been commercially available, has ever made money.
My manual strategy traded by an algorithm
However, what I've done over the last number of year is I've worked really hard to have my manual trading strategy put into an algorithm so it's being coded with my manual trading strategy logic. I don't want to be up 24 hours a day trading the Forex market. Also, I'm not personally a fan of trading the shorter timeframe charts. I much prefer with my manual trading to be trading the longer timeframe charts because it means I don't need to spend very much time looking at the charts. For me, my full-day trading involves no more than about 30 minutes of actual looking at charts. It's great because I can trade full-time like that, but what I've done is I've actually got my system and strategy automated to scan the shorter timeframe charts.
100% traded automatically on your account
That's what I'm offering you, a 100% fully automated robot trading algorithm, which can auto-magically be traded on your account for you.
I've been extensively back-testing and live-testing this strategy for a long, long time now, and in November 2017, I took the strategy on a live account, and it's been published. The results have been published on my FX book, which is a 100% fully automated and verified trading system. In that time, so we've now had 4 completed months, 4 full months of so far being profitable. The strategy until today, which is the 16th of March has been averaging 3.3% account gain per month, and so who knows what's going to happen in the future? You just cannot tell, but with extensive back-testing and now some forward-testing and live-testing, the strategy is performing extremely well. It's having about a 70% winning success rate, so around 7 out of 10 trades that it takes are profitable, and we're averaging 3.3% account gain.
It's important to understand that for some people 3.3% per month sounds really, really low for Forex, but it's really important to understand that you need to minimise your risk as a Forex trader.]]>418falsefullhttps://www.spreaker.com/episode/264-how-divergence-can-help-identify-high-quality-trade-setups--14259946
How Divergence can help identify high quality trade setups
In this weekly video:
00:29 – Divergence can help identify great trade setups
01:10 – There are so many ways to trade
01:35 – What is Divergence?
02:44 – 2 types of Divergence – Standard and Hidden Divergence
03:12 – You cannot take divergence signals by themselves
04:18 – Indicators are just an aid to alert you
05:02 – Contact me if you need more help
I'm going to talk about divergence and how spotting divergence can help you identify high-probability trade setups. Let's get into that and more right now.
Hi, Forex traders. It's Andrew Mitchem here, the owner of The Forex Trading Coach. This week, we're into video and podcast number 264.
Divergence can help identify great trade setups
I'm going to help you understand and explain to you all about divergence and how it can really help identify high-probability trade setups. It really is this amazing occurrence that you see on your charts, and it can really help identify great setups, but like all technical analysis, you cannot use divergence just by itself. You have to basically blend it with a really defined group of other indicators and tools to help you become a good trader and help you have a good strategy, but in this video, I want to talk just about divergence because it really is very powerful if you understand how to use it correctly.
There are so many ways to trade
As traders, there are unlimited ways of trading, and really, all we're trying to do is add as many factors, as many occurrences together showing at the same time to say, "Hey, this is a high-probability setup. Technically, this is looking good. It has all these things, A, B, C, D, E, F, G, in its favour. Yes, it's looking good. Let's take the trade."
There are so many ways to trade
What does divergence do? Well, divergence occurs on your charts, and mostly, you see it when you're using oscillators like RSI, or stochastic, or MACD. I use it only on stochastic myself, but it can be used on a variety of oscillating indicators, and what it's doing is showing us a difference between what the indicator is identifying should be happening in the price and what the price is actually really doing. When you get a conflict, say you get the indicator going one way and the price actually going the other way, so it's that conflict, which creates the divergence, and when you, for example, get the price making higher highs, and the indicator is suggesting the highs, and the indicator are going lower, that gives us a higher probability chance of a reversal from that uptrend.
Of course, you need candle patterns and you need it to occur in the right part of the chart. That's all additional material that I cover in depth in my course, but just understanding divergence and saying that a price is going up, the indicator is going down, the likelihood is that the price potentially now should start to reverse.
2 types of Divergence – Standard and Hidden Divergence
So you have what you call “Standard Divergence”, positive and negative. I also use something that's called "Hidden Divergence," so hidden positive divergence and hidden negative divergence. They help me identify continuation patterns far better. Again, I cover all that in detail if you'd like to know more in the course, but you use divergence with a number of other factors, and it really can help identify high-probability setups.
You cannot take divergence signals by themselves
As I mentioned at the beginning, you cannot use divergence just by itself. Don't just go out there looking for divergence and go, "Here's divergence on my charts. Therefore, I'm taking a sell trade or a buy trade." You can't do that. You have to blend it in with your overall big bucket basicall...]]>https://theforextradingcoach.com/?p=7653Sun, 11 Mar 2018 21:41:41 +0000Andrew MitchemPodcast: How Divergence can help identify high quality trade setups In this weekly video: 00:29 – Divergence can help identify great trade setups 01:10 – There are so many ways to trade 01:35 – What is Divergence? 02:44 – 2 types of Divergence –...
How Divergence can help identify high quality trade setups
In this weekly video:
00:29 – Divergence can help identify great trade setups
01:10 – There are so many ways to trade
01:35 – What is Divergence?
02:44 – 2 types of Divergence – Standard and Hidden Divergence
03:12 – You cannot take divergence signals by themselves
04:18 – Indicators are just an aid to alert you
05:02 – Contact me if you need more help
I'm going to talk about divergence and how spotting divergence can help you identify high-probability trade setups. Let's get into that and more right now.
Hi, Forex traders. It's Andrew Mitchem here, the owner of The Forex Trading Coach. This week, we're into video and podcast number 264.
Divergence can help identify great trade setups
I'm going to help you understand and explain to you all about divergence and how it can really help identify high-probability trade setups. It really is this amazing occurrence that you see on your charts, and it can really help identify great setups, but like all technical analysis, you cannot use divergence just by itself. You have to basically blend it with a really defined group of other indicators and tools to help you become a good trader and help you have a good strategy, but in this video, I want to talk just about divergence because it really is very powerful if you understand how to use it correctly.
There are so many ways to trade
As traders, there are unlimited ways of trading, and really, all we're trying to do is add as many factors, as many occurrences together showing at the same time to say, "Hey, this is a high-probability setup. Technically, this is looking good. It has all these things, A, B, C, D, E, F, G, in its favour. Yes, it's looking good. Let's take the trade."
There are so many ways to trade
What does divergence do? Well, divergence occurs on your charts, and mostly, you see it when you're using oscillators like RSI, or stochastic, or MACD. I use it only on stochastic myself, but it can be used on a variety of oscillating indicators, and what it's doing is showing us a difference between what the indicator is identifying should be happening in the price and what the price is actually really doing. When you get a conflict, say you get the indicator going one way and the price actually going the other way, so it's that conflict, which creates the divergence, and when you, for example, get the price making higher highs, and the indicator is suggesting the highs, and the indicator are going lower, that gives us a higher probability chance of a reversal from that uptrend.
Of course, you need candle patterns and you need it to occur in the right part of the chart. That's all additional material that I cover in depth in my course, but just understanding divergence and saying that a price is going up, the indicator is going down, the likelihood is that the price potentially now should start to reverse.
2 types of Divergence – Standard and Hidden Divergence
So you have what you call “Standard Divergence”, positive and negative. I also use something that's called "Hidden Divergence," so hidden positive divergence and hidden negative divergence. They help me identify continuation patterns far better. Again, I cover all that in detail if you'd like to know more in the course, but you use divergence with a number of other factors, and it really can help identify high-probability setups.
You cannot take divergence signals by themselves
As I mentioned at the beginning, you cannot use divergence just by itself. Don't just go out there looking for divergence and go, "Here's divergence on my charts. Therefore, I'm taking a sell trade or a buy trade." You can't do that. You have to blend it in with your overall big bucket basicall...]]>350falsefullhttps://www.spreaker.com/episode/263-why-do-so-many-fail-as-a-forex-trader--14198337
Why do so many fail as a Forex trader?”
In this weekly video:
00:24 – We all want to become a good Forex trader – but most fail
01:11 – How much do you want to succeed?
01:35 – It’s easy to quit
01:50 – Trading success stories
03:10 – What makes these traders successful?
04:40 – It takes real dedication in order to succeed
06:10 – Good Forex coaching is a must
What do you need to do in order to become a better Forex trader? Let's talk about that and more right now.
Hi traders, Andrew Mitchem here, the owner of The Forex Trading Coach video and podcast number 263.
We all want to become a good Forex trader – but most fail
You see, almost everybody who starts trading Forex wants to become a good Forex trader. Obvious, right? But very few people actually achieve that so why is that? You have a look online and you'll hear the figures, somewhere people estimate between 90-95% of all people who trade Forex don't actually make money. It's an appalling statistic but I can see that it's quite likely to be very accurate and after trading the markets for close on 15 years now, there's a number of traits that I see when it comes to people who become successful as opposed to people who are not.
I've been coaching for almost nine years, so you know, over those years, you kind of get to work out what works and what doesn't.
How much do you want to succeed?
A lot of it comes down to how much do you really want it and dedication. It's very easy to go, "Oh, Andrew, look, of course I want to be a trader. I'm going to do anything possible. I'll be completely dedicated to being a trader because I want it so much and I hate my job and I want to work from home."
It’s easy to quit
Whatever the reasons might be and I hear that all the time, but the problem is it's very, very easy to quit. You know, t's very easy to blame the market, blame someone else. "This didn't work. I'm quitting. I'm changing systems." All the rest of it, but let me tell you and share with you a couple stories and these are great examples.
Trading success stories
Now, these are both from just yesterday. These are both clients, so I had an e-mail here from Emery who lives in Canada and Emery said to me, "I'm at the point where I'm now trading full time quite comfortable. I take trades on the weekly, the daily, the 12 hour, and the 8 hour time frames, and it's been wonderful. Thanks a lot for everything you do. Since becoming a client, my confidence in trading has only increased and since graduating six months ago from a demo to a live account, I've not had a single losing month. I think perhaps maybe only two losing weeks in total." That's from Emery.
Again, it just shows what can be achieved. Another post here on my forum site again, just yesterday from Sean who lives in Australia. Sean said, "I took this trade on the US/Canadian dollar last night before going to bed, woke up for a nice profit. Had a two to one reward to risk. Been very selective with my trades lately and only taking A Grade setups, getting only two to three trades a week, but I'm up 6.5% for the month." That's just an amazing achievement. That was for February, 6.5% for February.
It just shows what can be achieved. Now the interesting thing is I'm not just plucking out two sort of people.
What makes these traders successful?
I'm picking out two people who only yesterday told me their results and how they're doing, but not only that. Those two people are very, very dedicated so first of all, they sought some good professional coaching, so that's the first thing. They're dedicated, wanted to invest some money into themselves to become good traders.
The second thing is I've got thousands of coaching clients but the second thing is about Emery...]]>https://theforextradingcoach.com/?p=7634Sun, 04 Mar 2018 21:55:08 +0000Andrew MitchemPodcast: Why do so many fail as a Forex trader?” In this weekly video: 00:24 – We all want to become a good Forex trader – but most fail 01:11 – How much do you want to succeed? 01:35 – It’s easy to quit 01:50 – Trading success stories 03:10 –...
Why do so many fail as a Forex trader?”
In this weekly video:
00:24 – We all want to become a good Forex trader – but most fail
01:11 – How much do you want to succeed?
01:35 – It’s easy to quit
01:50 – Trading success stories
03:10 – What makes these traders successful?
04:40 – It takes real dedication in order to succeed
06:10 – Good Forex coaching is a must
What do you need to do in order to become a better Forex trader? Let's talk about that and more right now.
Hi traders, Andrew Mitchem here, the owner of The Forex Trading Coach video and podcast number 263.
We all want to become a good Forex trader – but most fail
You see, almost everybody who starts trading Forex wants to become a good Forex trader. Obvious, right? But very few people actually achieve that so why is that? You have a look online and you'll hear the figures, somewhere people estimate between 90-95% of all people who trade Forex don't actually make money. It's an appalling statistic but I can see that it's quite likely to be very accurate and after trading the markets for close on 15 years now, there's a number of traits that I see when it comes to people who become successful as opposed to people who are not.
I've been coaching for almost nine years, so you know, over those years, you kind of get to work out what works and what doesn't.
How much do you want to succeed?
A lot of it comes down to how much do you really want it and dedication. It's very easy to go, "Oh, Andrew, look, of course I want to be a trader. I'm going to do anything possible. I'll be completely dedicated to being a trader because I want it so much and I hate my job and I want to work from home."
It’s easy to quit
Whatever the reasons might be and I hear that all the time, but the problem is it's very, very easy to quit. You know, t's very easy to blame the market, blame someone else. "This didn't work. I'm quitting. I'm changing systems." All the rest of it, but let me tell you and share with you a couple stories and these are great examples.
Trading success stories
Now, these are both from just yesterday. These are both clients, so I had an e-mail here from Emery who lives in Canada and Emery said to me, "I'm at the point where I'm now trading full time quite comfortable. I take trades on the weekly, the daily, the 12 hour, and the 8 hour time frames, and it's been wonderful. Thanks a lot for everything you do. Since becoming a client, my confidence in trading has only increased and since graduating six months ago from a demo to a live account, I've not had a single losing month. I think perhaps maybe only two losing weeks in total." That's from Emery.
Again, it just shows what can be achieved. Another post here on my forum site again, just yesterday from Sean who lives in Australia. Sean said, "I took this trade on the US/Canadian dollar last night before going to bed, woke up for a nice profit. Had a two to one reward to risk. Been very selective with my trades lately and only taking A Grade setups, getting only two to three trades a week, but I'm up 6.5% for the month." That's just an amazing achievement. That was for February, 6.5% for February.
It just shows what can be achieved. Now the interesting thing is I'm not just plucking out two sort of people.
What makes these traders successful?
I'm picking out two people who only yesterday told me their results and how they're doing, but not only that. Those two people are very, very dedicated so first of all, they sought some good professional coaching, so that's the first thing. They're dedicated, wanted to invest some money into themselves to become good traders.
The second thing is I've got thousands of coaching clients but the second thing is about Emery...]]>441falsefullhttps://www.spreaker.com/episode/262-how-to-deal-with-good-and-bad-trades--14140866
How to deal with good and bad trades
In this weekly video:
00:26 – Trading phycology and the mental aspect of trading
01:19 – The good and the bad side
01:35 – When trades go wrong
02:30 – Fantastic when your winning
03:31 – What can you do when you are losing trades?
04:31 – 6 out of 7 winning trades on the Daily charts this week
05:38 – Consistency is key to success
06:15 – Control your risk per trade and control your emotions
06:55 – Look at the bigger picture
07:49 – Contact me if you need further help
Trading psychology is a really important part of trading. How do you deal with good and bad trades? Let's talk about that and more right now.
Hi, traders. It's Andrew Mitchem here, The Forex Trading Coach, video and podcast number 262. Now, trading psychology, all about the mind, it's a really, really underrated and overlooked part of trading. You see, everybody wants to get into the nitty-gritty of the actual trading strategy and how to make money, but the reality is that good trading, a large part of it comes down to your mental approach because after all we're talking about emotions. We're talking about making and losing money, real money and it hurts or it's fantastic depending on which side of the trade you're on.
Let's talk about the two different approaches, really, and also with the bad side, how I can give you some help and information from my personal experience to help you overcome that. When you have losing trades, all of a sudden, everything feels terrible and you know what I mean because you've certainly been there. All traders go through it. I still go through it after trading for years and years. But there are some things I can help you with.
When trades go wrong, you start to have doubt in your system, doubt in your own ability, and it just all feels horrible. You see what you think are good setups and trades just go wrong because after all trading is not an exact science. It's about probability. Not all the time are your really nice set up is going to work 100%. You start having doubt and some people then, especially new traders, they start having anger, frustration, fear, all those types of things. Some people want to just get back at the market and they start doing really stupid things. They'll take silly position sizes. They'll start doubling up a position. They'll take a trade just because I want to take a trade and get my money back, all those kind of crazy things. Especially when you're new, that is something that is very easy to fall into.
Take the opposite side of that scale and you take a series of winning trades and, all of a sudden, life is fantastic. You're making money. You're seeing lots of profit whether you're using MT4, lots of green lights. You're hitting your profit targets and your cash is growing beautifully. The danger then is you can become very blasé about your trading, almost like indestructible, almost like that teenager mentality where I can drive a car really fast because I know what I'm doing and it never happens to me and it's a thrill, all those types of things. We've all been teenagers and many of us have teenagers as children and you know that little bit of knowledge can be very, very dangerous, that kind of approach and that can become a problem when you have some winning trades is that the whole mental part goes out the window because you just think that every trade you take is going to be a great trade. Of course you know the answer. You're going to get hit really badly.
Going back to the losing side of things, what can you do? Well, first of all, it's important to be mentally focused. It's important to be disciplined, to be trading at the same times of the day, to be trading the same set ups, the same timeframe charts. Whatever it is that you do in a good run,]]>https://theforextradingcoach.com/?p=7625Sun, 25 Feb 2018 22:04:47 +0000Andrew MitchemPodcast: How to deal with good and bad trades In this weekly video: 00:26 – Trading phycology and the mental aspect of trading 01:19 – The good and the bad side 01:35 – When trades go wrong 02:30 – Fantastic when your winning 03:31 – What can...
How to deal with good and bad trades
In this weekly video:
00:26 – Trading phycology and the mental aspect of trading
01:19 – The good and the bad side
01:35 – When trades go wrong
02:30 – Fantastic when your winning
03:31 – What can you do when you are losing trades?
04:31 – 6 out of 7 winning trades on the Daily charts this week
05:38 – Consistency is key to success
06:15 – Control your risk per trade and control your emotions
06:55 – Look at the bigger picture
07:49 – Contact me if you need further help
Trading psychology is a really important part of trading. How do you deal with good and bad trades? Let's talk about that and more right now.
Hi, traders. It's Andrew Mitchem here, The Forex Trading Coach, video and podcast number 262. Now, trading psychology, all about the mind, it's a really, really underrated and overlooked part of trading. You see, everybody wants to get into the nitty-gritty of the actual trading strategy and how to make money, but the reality is that good trading, a large part of it comes down to your mental approach because after all we're talking about emotions. We're talking about making and losing money, real money and it hurts or it's fantastic depending on which side of the trade you're on.
Let's talk about the two different approaches, really, and also with the bad side, how I can give you some help and information from my personal experience to help you overcome that. When you have losing trades, all of a sudden, everything feels terrible and you know what I mean because you've certainly been there. All traders go through it. I still go through it after trading for years and years. But there are some things I can help you with.
When trades go wrong, you start to have doubt in your system, doubt in your own ability, and it just all feels horrible. You see what you think are good setups and trades just go wrong because after all trading is not an exact science. It's about probability. Not all the time are your really nice set up is going to work 100%. You start having doubt and some people then, especially new traders, they start having anger, frustration, fear, all those types of things. Some people want to just get back at the market and they start doing really stupid things. They'll take silly position sizes. They'll start doubling up a position. They'll take a trade just because I want to take a trade and get my money back, all those kind of crazy things. Especially when you're new, that is something that is very easy to fall into.
Take the opposite side of that scale and you take a series of winning trades and, all of a sudden, life is fantastic. You're making money. You're seeing lots of profit whether you're using MT4, lots of green lights. You're hitting your profit targets and your cash is growing beautifully. The danger then is you can become very blasé about your trading, almost like indestructible, almost like that teenager mentality where I can drive a car really fast because I know what I'm doing and it never happens to me and it's a thrill, all those types of things. We've all been teenagers and many of us have teenagers as children and you know that little bit of knowledge can be very, very dangerous, that kind of approach and that can become a problem when you have some winning trades is that the whole mental part goes out the window because you just think that every trade you take is going to be a great trade. Of course you know the answer. You're going to get hit really badly.
Going back to the losing side of things, what can you do? Well, first of all, it's important to be mentally focused. It's important to be disciplined, to be trading at the same times of the day, to be trading the same set ups, the same timeframe charts. Whatever it is that you do in a good run,]]>509falsefullhttps://www.spreaker.com/episode/261-knowing-when-not-to-take-a-new-trade--14084438
Knowing when NOT to take a new trade
In this weekly video:
00:25 – Learning to reject a trade
00:53 – Less is more
01:14 – Live 2 hour webinar and examples shown in real time
01:50 – I took 1 trade and rejected others
02:51 – The AUD/NZD H6 trade
04:32 – The trade hit the full profit for a 2:1 reward:risk ratio, or a 1% account gain
As part of being a good Forex trader, it's important to understand when not to take a new trade. Let's talk about that and more right now.
Hi, Forex traders. It's Andrew Mitchem here, The Forex Trading Coach with video and podcast number 261.
Learning to reject a trade
An important part of being a very good Forex trader is having the ability to reject trades, to see good, technical setups, but you may also see a reason why not to take that trade. You see, as a Forex trader, I'm sure that you want to take new trades. It's the excitement, it's the buzz of identifying new setups of taking new trades because that's what we do. We're looking for trade set ups all of the time.
Less is more
Part of being a good Forex trader is also using the less is more philosophy. You don't need to keep taking trades in order to do well. You need to have the higher quality trades in order to do well, not the volume of trades. It is important to understand what to look for when not to take a new trade.
Live 2 hour webinar and examples shown in real time
As an example, just last night I held a live two hour session with my clients, so traders from all over the world on this session for two hours in the European session, and we were looking at trade setups that I'd taken over the previous week, looking at some really good technical setups. Most those trades worked. A few didn't. That's just part of trading, but in real time, I was finding that yesterday, which was Thursday, the 15th of February, the market in the European session was just a little bit quiet and there wasn't a lot there. Then towards the end of the session, there was some very nice technical setups showing.
I took 1 trade and rejected others
But I only took one trade. What I was finding was there were good technical setups, but I was also finding a reason not to take the trade, and it could be, as an example, as a buy trade, it means that we're buying into a round number. We may be just a few pips below a round number, like a 00 or a 50 level. We don't want to be doing that. You don't want to be buying directly into a middle Bollinger band or a pivot point or as a buy trade, you don't want to be buying and knowing that you need to get your profit target through a previous resistance level or previous high. Those type of things. That's what you want to avoid doing.
I was looking at a number of good technical setups, and I was saying to clients, "Look, I really like this. It's got a great candle pattern. It's in the right part of the chart. It's got a trend line break, all the things we're looking for. Oh, but this trade's against today's ideal strength or weakness, or this trade's buying directly into a round number of 00. There's reasons why not to take those trades."
The AUD/NZD H6 trade
Then towards the end of the session, I found a great technical trade on the Australian dollar, New Zealand dollar on the six hour chart, and I took the trade. Had everything I was looking for. It had the great candle pattern, it was in the right part of the chart. Yesterday, you can go and look on my free analysis for Thursday, the 15th of February. I was suggesting looking for sell trades on the Aussie Kiwi Cross, and that's exactly what I was doing on the six hour charts. I had a round number in the pivot point to protect my trade, as in protecting the stop loss. We'd just broken through some recent lows, and my profit target was before the last major swing...]]>https://theforextradingcoach.com/?p=7618Sun, 18 Feb 2018 22:15:52 +0000Andrew MitchemPodcast: Knowing when NOT to take a new trade In this weekly video: 00:25 – Learning to reject a trade 00:53 – Less is more 01:14 – Live 2 hour webinar and examples shown in real time 01:50 – I took 1 trade and rejected others 02:51 – The...
Knowing when NOT to take a new trade
In this weekly video:
00:25 – Learning to reject a trade
00:53 – Less is more
01:14 – Live 2 hour webinar and examples shown in real time
01:50 – I took 1 trade and rejected others
02:51 – The AUD/NZD H6 trade
04:32 – The trade hit the full profit for a 2:1 reward:risk ratio, or a 1% account gain
As part of being a good Forex trader, it's important to understand when not to take a new trade. Let's talk about that and more right now.
Hi, Forex traders. It's Andrew Mitchem here, The Forex Trading Coach with video and podcast number 261.
Learning to reject a trade
An important part of being a very good Forex trader is having the ability to reject trades, to see good, technical setups, but you may also see a reason why not to take that trade. You see, as a Forex trader, I'm sure that you want to take new trades. It's the excitement, it's the buzz of identifying new setups of taking new trades because that's what we do. We're looking for trade set ups all of the time.
Less is more
Part of being a good Forex trader is also using the less is more philosophy. You don't need to keep taking trades in order to do well. You need to have the higher quality trades in order to do well, not the volume of trades. It is important to understand what to look for when not to take a new trade.
Live 2 hour webinar and examples shown in real time
As an example, just last night I held a live two hour session with my clients, so traders from all over the world on this session for two hours in the European session, and we were looking at trade setups that I'd taken over the previous week, looking at some really good technical setups. Most those trades worked. A few didn't. That's just part of trading, but in real time, I was finding that yesterday, which was Thursday, the 15th of February, the market in the European session was just a little bit quiet and there wasn't a lot there. Then towards the end of the session, there was some very nice technical setups showing.
I took 1 trade and rejected others
But I only took one trade. What I was finding was there were good technical setups, but I was also finding a reason not to take the trade, and it could be, as an example, as a buy trade, it means that we're buying into a round number. We may be just a few pips below a round number, like a 00 or a 50 level. We don't want to be doing that. You don't want to be buying directly into a middle Bollinger band or a pivot point or as a buy trade, you don't want to be buying and knowing that you need to get your profit target through a previous resistance level or previous high. Those type of things. That's what you want to avoid doing.
I was looking at a number of good technical setups, and I was saying to clients, "Look, I really like this. It's got a great candle pattern. It's in the right part of the chart. It's got a trend line break, all the things we're looking for. Oh, but this trade's against today's ideal strength or weakness, or this trade's buying directly into a round number of 00. There's reasons why not to take those trades."
The AUD/NZD H6 trade
Then towards the end of the session, I found a great technical trade on the Australian dollar, New Zealand dollar on the six hour chart, and I took the trade. Had everything I was looking for. It had the great candle pattern, it was in the right part of the chart. Yesterday, you can go and look on my free analysis for Thursday, the 15th of February. I was suggesting looking for sell trades on the Aussie Kiwi Cross, and that's exactly what I was doing on the six hour charts. I had a round number in the pivot point to protect my trade, as in protecting the stop loss. We'd just broken through some recent lows, and my profit target was before the last major swing...]]>365falsefullhttps://www.spreaker.com/episode/260-trading-with-the-daily-direction--14027524
Trading with the Daily Direction
In this weekly video:
00:27 – How to increase your win rate
00:53 – Trading is all about probabilities
01.25 – Looking to buy or sell trades
01:46 – Taking setups that are in the direction of the daily trend
03:15 – Don’t take trades that are against the bigger trend
03:38 – I post daily trend analysis to help you – link below
Trading with a daily direction can give you such a great advantage when trading for shorter time frame chance. Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 260.
How to increase your win rate
I want to give you a really useful piece of advice that will substantially increase your win rate. It's all about trading with the likely overall daily direction, trading with the bigger picture. You see, if you can trade where the bigger trends are likely to be going, then it stands to reason you're giving yourself a higher chance of having a profitable trade, providing, of course, your technical setup is correct in the first place.
Trading is all about probabilities
Trading is all about probabilities. That's really all it is. It's about seeing technical setups and knowing that if a certain setup, a certain candle pattern, a certain price has been hit, a certain support and resistance level, whatever it might be that you're looking for, you know that, given history, when that setup shows, you know that the probability is that the trend or the pair will move in this direction. You know that because you've analysed that. That's how you have your strategy in the first place.
Looking to buy or sell trades
Of course, when we're looking for trades in the Forex market, we can look for buy trades or sell trades, to go long or short, to go up or down, and that's the beauty with the Forex market, and that's one of the reasons, one of the many reasons why we love trading the Forex market, the ability to buy and sell and make money on both directions. It's a fantastic benefit of trading Forex.
Taking setups that are in the direction of the daily trend
However, when you think about it, if you see within the course of a day … Let's say you're trading one hour charts. You see five trade setups and you see sell trade setups. Which ones are likely to work for that day? No one really knows, of course, until after the facts happen, but when you think about it, if you see on the daily chart, let's say a big up trend and you see strong, bullish candles on the daily chart, but it stands to reason that if, within that day on a one hour chart, you see strong buy setups, good, strong, technical, buy, trade setups, it means that you're trading with the bigger picture.
They could be continuations on the one hour chart or they could be right after a pull back, which, by the way, you've probably seen the sell trade and you've ignored it because, for today, you're looking for buy trades. You've ignored that little pull back and now you're seeing a good, strong, bullish candle pattern, ready to ride the bigger picture of the daily chart, and now it looks like the one hour chart's ready to resume. It's up trend after a pull back.
Again, it's probability, stacking as many favourable items in your favour as possible. This could be, sort of, the candle pattern. It could be the trend line breaks. It could be bounced at round numbers. All these type of things that we're looking for, and now on top of that it means that if we're trading in the likely daily direction, that has to have more weight to our trade, and that's to give you a higher overall win rate.
Don’t take trades that are against the bigger trend
You just think about it. Why would you take sell trades on that day if the likely bigger picture is for the market ...]]>https://theforextradingcoach.com/?p=7610Sun, 11 Feb 2018 21:56:58 +0000Andrew MitchemPodcast: Trading with the Daily Direction In this weekly video: 00:27 – How to increase your win rate 00:53 – Trading is all about probabilities 01.25 – Looking to buy or sell trades 01:46 – Taking setups that are in the direction of the daily...
Trading with the Daily Direction
In this weekly video:
00:27 – How to increase your win rate
00:53 – Trading is all about probabilities
01.25 – Looking to buy or sell trades
01:46 – Taking setups that are in the direction of the daily trend
03:15 – Don’t take trades that are against the bigger trend
03:38 – I post daily trend analysis to help you – link below
Trading with a daily direction can give you such a great advantage when trading for shorter time frame chance. Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 260.
How to increase your win rate
I want to give you a really useful piece of advice that will substantially increase your win rate. It's all about trading with the likely overall daily direction, trading with the bigger picture. You see, if you can trade where the bigger trends are likely to be going, then it stands to reason you're giving yourself a higher chance of having a profitable trade, providing, of course, your technical setup is correct in the first place.
Trading is all about probabilities
Trading is all about probabilities. That's really all it is. It's about seeing technical setups and knowing that if a certain setup, a certain candle pattern, a certain price has been hit, a certain support and resistance level, whatever it might be that you're looking for, you know that, given history, when that setup shows, you know that the probability is that the trend or the pair will move in this direction. You know that because you've analysed that. That's how you have your strategy in the first place.
Looking to buy or sell trades
Of course, when we're looking for trades in the Forex market, we can look for buy trades or sell trades, to go long or short, to go up or down, and that's the beauty with the Forex market, and that's one of the reasons, one of the many reasons why we love trading the Forex market, the ability to buy and sell and make money on both directions. It's a fantastic benefit of trading Forex.
Taking setups that are in the direction of the daily trend
However, when you think about it, if you see within the course of a day … Let's say you're trading one hour charts. You see five trade setups and you see sell trade setups. Which ones are likely to work for that day? No one really knows, of course, until after the facts happen, but when you think about it, if you see on the daily chart, let's say a big up trend and you see strong, bullish candles on the daily chart, but it stands to reason that if, within that day on a one hour chart, you see strong buy setups, good, strong, technical, buy, trade setups, it means that you're trading with the bigger picture.
They could be continuations on the one hour chart or they could be right after a pull back, which, by the way, you've probably seen the sell trade and you've ignored it because, for today, you're looking for buy trades. You've ignored that little pull back and now you're seeing a good, strong, bullish candle pattern, ready to ride the bigger picture of the daily chart, and now it looks like the one hour chart's ready to resume. It's up trend after a pull back.
Again, it's probability, stacking as many favourable items in your favour as possible. This could be, sort of, the candle pattern. It could be the trend line breaks. It could be bounced at round numbers. All these type of things that we're looking for, and now on top of that it means that if we're trading in the likely daily direction, that has to have more weight to our trade, and that's to give you a higher overall win rate.
Don’t take trades that are against the bigger trend
You just think about it. Why would you take sell trades on that day if the likely bigger picture is for the market ...]]>306falsefullhttps://www.spreaker.com/episode/259-do-you-lack-the-time-to-trade--13970728
Do you lack the time to trade?
In this weekly video:
00:26 – Most people don’t think they have sufficient time to trade
01:07 – New traders want to watch the charts all day
01:45 – Are you ready to trade or is the market ready?
02:09 – Scared to leave the charts?
02:39 – Less is More
02:58 – Trading examples from Monthly charts and Daily charts
04:00 – You don’t need to be on your computer all day long
04:30 – Look at a new trade only on the completion of a candle
05:05 – Trading must be realistic and enjoyable
Do you find you don't have enough spare time in the day in order to trade the Forex market properly? If that's you, listen up, I've got some really good news.
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach with video and podcast number 259.
Most people don’t think they have sufficient time to trade
Today's video and podcast is all about having available time in order to trade. You see, most people will find that they don't have sufficient time in the day. I had an email just this morning from a guy called Brian. Brian said to me, "Andrew look, I don't think I'm gonna do your course because I don't have enough time to dedicate to trading. Time I go to work, come home, help the wife, help with the kids, try and do something for me, some sports, leisure, music, there's just not enough hours in the day to then go and sit and watch charts all day."
It's a common problem that so many people have, and you see the problem is that so many people think that they need to be staring at the charts all day. In reality you don't.
New traders want to watch the charts all day
You see, the problem is this, when most people start trading, they want to be looking at the charts all day long. They're looking at every pip of movement, they're looking at every news release, they're adding indicators, they're trying to make this special combination, this nice concoction of magical indicators that's suddenly gonna tell them all these perfect trading signals, to buy here and sell here.
Unfortunately it just does not work like that. Most people then start to go down to shorter timeframe charts because they want to look at five minute charts or 15 minute charts, and they're trying to pick every single movement, every swing, every upward movement, every downward movement.
Are you ready to trade or is the market ready?
When they place trades, they're placing them because they are ready, not the market is ready. It's like, "Well, my clock says I've got an hour to trade, I'm gonna find a trade and I'm gonna find something suitable to trade." So they're forcing themselves to go shorter and shorter timeframes, and just placing a trade for almost like the need to want to place a trade, not because it's the right thing to do at that time.
Scared to leave the charts?
Then, when they place a trade, they're scared to leave the charts because they might miss out on a one or two extra pips on that trade, or it might pull back against them and, "Oh my goodness, what am I gonna do now?" You'd understand what I'm saying because we've all been there, and I've been there myself so I know exactly that's the reality for most new traders.
I can tell you that after 15 years as a full-time Forex trader and a coach, I've kind of seen it all by now, I've been through it all, and I've seen it all, and I've heard it all. I can honestly tell you this.
Less is More
The phrase ‘less is more' is absolutely, perfectly suited to becoming a good Forex trader. What I mean by that is this, the less you trade, the less time you spend looking at your charts, the less you're fiddling with trades, the more you'll make, the better you'll be.]]>https://theforextradingcoach.com/?p=7602Sun, 04 Feb 2018 22:03:54 +0000Andrew MitchemPodcast: Do you lack the time to trade? In this weekly video: 00:26 – Most people don’t think they have sufficient time to trade 01:07 – New traders want to watch the charts all day 01:45 – Are you ready to trade or is the market ready? 02:09 –...
Do you lack the time to trade?
In this weekly video:
00:26 – Most people don’t think they have sufficient time to trade
01:07 – New traders want to watch the charts all day
01:45 – Are you ready to trade or is the market ready?
02:09 – Scared to leave the charts?
02:39 – Less is More
02:58 – Trading examples from Monthly charts and Daily charts
04:00 – You don’t need to be on your computer all day long
04:30 – Look at a new trade only on the completion of a candle
05:05 – Trading must be realistic and enjoyable
Do you find you don't have enough spare time in the day in order to trade the Forex market properly? If that's you, listen up, I've got some really good news.
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach with video and podcast number 259.
Most people don’t think they have sufficient time to trade
Today's video and podcast is all about having available time in order to trade. You see, most people will find that they don't have sufficient time in the day. I had an email just this morning from a guy called Brian. Brian said to me, "Andrew look, I don't think I'm gonna do your course because I don't have enough time to dedicate to trading. Time I go to work, come home, help the wife, help with the kids, try and do something for me, some sports, leisure, music, there's just not enough hours in the day to then go and sit and watch charts all day."
It's a common problem that so many people have, and you see the problem is that so many people think that they need to be staring at the charts all day. In reality you don't.
New traders want to watch the charts all day
You see, the problem is this, when most people start trading, they want to be looking at the charts all day long. They're looking at every pip of movement, they're looking at every news release, they're adding indicators, they're trying to make this special combination, this nice concoction of magical indicators that's suddenly gonna tell them all these perfect trading signals, to buy here and sell here.
Unfortunately it just does not work like that. Most people then start to go down to shorter timeframe charts because they want to look at five minute charts or 15 minute charts, and they're trying to pick every single movement, every swing, every upward movement, every downward movement.
Are you ready to trade or is the market ready?
When they place trades, they're placing them because they are ready, not the market is ready. It's like, "Well, my clock says I've got an hour to trade, I'm gonna find a trade and I'm gonna find something suitable to trade." So they're forcing themselves to go shorter and shorter timeframes, and just placing a trade for almost like the need to want to place a trade, not because it's the right thing to do at that time.
Scared to leave the charts?
Then, when they place a trade, they're scared to leave the charts because they might miss out on a one or two extra pips on that trade, or it might pull back against them and, "Oh my goodness, what am I gonna do now?" You'd understand what I'm saying because we've all been there, and I've been there myself so I know exactly that's the reality for most new traders.
I can tell you that after 15 years as a full-time Forex trader and a coach, I've kind of seen it all by now, I've been through it all, and I've seen it all, and I've heard it all. I can honestly tell you this.
Less is More
The phrase ‘less is more' is absolutely, perfectly suited to becoming a good Forex trader. What I mean by that is this, the less you trade, the less time you spend looking at your charts, the less you're fiddling with trades, the more you'll make, the better you'll be.]]>374falsefullhttps://www.spreaker.com/episode/258-controlling-your-risk--13909332
Controlling Your Risk
In this weekly video:
00:23 – A common problem that can help turn your trading around
01:03 – Different pairs pay a different amount per pip
01:23 – The best way to control risk – Use my Lot Size Calculator (download link below for you)
02:10 – Placing your Stop Loss at a safe level
03:25 – Your trading will improve by using the calculator
I’m gonna explain how you can control your risk by adjusting your position size so let's talk about that and more right now.
Hi traders. It's Andrew Mitchem here, The Forex Trading Coach, video and podcast member 258 and in today's video and podcast.
A common problem that can help turn your trading around
I'm going to address a very, very common problem that can really help you to turn your trading around. It's very simple but unfortunately, most people do this the wrong way round. Now, I'm guessing that if you're like the majority of retail traders out there, if you place a trade, you put the same position size on every single trade. I expect you do. Why? Well, because it's easy and most people don't have any other understanding or knowledge about what else to do and so most people you'd see put one standard lot on every trade or put 0.1 or 0.01 lots, just because it's easy. Now, that is quite clearly not a good way of trading but unfortunately, most people do that.
Different pairs pay a different amount per pip
You see different currency pairs pay out different amounts per pip and by putting a 0.1 lot on every single trade, as an example, what it's doing is it means that you're putting that same position size on regardless of the currency pair, regardless of the time frame of a chart or regardless of the stop loss that you're taking.
The best way to control risk – Use my Lot Size Calculator (download link below for you)
Now, there's a far better way of doing it and I used my lot size calculator and it's freely available on my website and I'll put a link below this video for you to download it if you haven't already got it. It's been downloaded over 20,000 times. It's an amazingly simple and fantastic trading script that works on the MT4, Meta Trader 4, platform. But more about that later.
So, what I like to do is because I use that script all the time, but what it does is it tells me the exact position size that I need to use on a trade, regardless of my account size, my account denomination, the timeframe of the chart, the type of trade I'm taking, the currency pair. It works it all out for you with simple drag onto the chart into your stop loss and it tells you everything you need to know.
Placing your Stop Loss at a safe level
What you're then doing is putting your stop loss at a level that technically is giving you a high probability chance of staying in the trade and you then need to work out your position size needed for that particular trade from there. It then means that if the trade goes wrong, you know, as in my example, I love half of one percent of my account.
And I get a lot of people coming to me. They say, "Hey Andrew, but you keep talking about ideally you should be looking at trading the longer timeframe charts but how can you trade the longer timeframe charts because I need to put a small stop loss in and that means I'm getting stopped out all the time." Now, that's clearly a lack of understanding of the market and what you need to be doing because you can't just place a 0.1 position size, let's say, on a daily trade if that's the same position size that you place on a five minute chart trade, as an example. So, therefore, you're position size on a daily chart trade might be, let's say, 0.02 lots or whatever it needs to be according to your account size and the trade that you're taking. So, I hope that helps. It really will make a massive difference to your over...]]>https://theforextradingcoach.com/?p=7591Sun, 28 Jan 2018 22:03:40 +0000Andrew MitchemPodcast: Controlling Your Risk In this weekly video: 00:23 – A common problem that can help turn your trading around 01:03 – Different pairs pay a different amount per pip 01:23 – The best way to control risk – Use my Lot Size Calculator (download...
Controlling Your Risk
In this weekly video:
00:23 – A common problem that can help turn your trading around
01:03 – Different pairs pay a different amount per pip
01:23 – The best way to control risk – Use my Lot Size Calculator (download link below for you)
02:10 – Placing your Stop Loss at a safe level
03:25 – Your trading will improve by using the calculator
I’m gonna explain how you can control your risk by adjusting your position size so let's talk about that and more right now.
Hi traders. It's Andrew Mitchem here, The Forex Trading Coach, video and podcast member 258 and in today's video and podcast.
A common problem that can help turn your trading around
I'm going to address a very, very common problem that can really help you to turn your trading around. It's very simple but unfortunately, most people do this the wrong way round. Now, I'm guessing that if you're like the majority of retail traders out there, if you place a trade, you put the same position size on every single trade. I expect you do. Why? Well, because it's easy and most people don't have any other understanding or knowledge about what else to do and so most people you'd see put one standard lot on every trade or put 0.1 or 0.01 lots, just because it's easy. Now, that is quite clearly not a good way of trading but unfortunately, most people do that.
Different pairs pay a different amount per pip
You see different currency pairs pay out different amounts per pip and by putting a 0.1 lot on every single trade, as an example, what it's doing is it means that you're putting that same position size on regardless of the currency pair, regardless of the time frame of a chart or regardless of the stop loss that you're taking.
The best way to control risk – Use my Lot Size Calculator (download link below for you)
Now, there's a far better way of doing it and I used my lot size calculator and it's freely available on my website and I'll put a link below this video for you to download it if you haven't already got it. It's been downloaded over 20,000 times. It's an amazingly simple and fantastic trading script that works on the MT4, Meta Trader 4, platform. But more about that later.
So, what I like to do is because I use that script all the time, but what it does is it tells me the exact position size that I need to use on a trade, regardless of my account size, my account denomination, the timeframe of the chart, the type of trade I'm taking, the currency pair. It works it all out for you with simple drag onto the chart into your stop loss and it tells you everything you need to know.
Placing your Stop Loss at a safe level
What you're then doing is putting your stop loss at a level that technically is giving you a high probability chance of staying in the trade and you then need to work out your position size needed for that particular trade from there. It then means that if the trade goes wrong, you know, as in my example, I love half of one percent of my account.
And I get a lot of people coming to me. They say, "Hey Andrew, but you keep talking about ideally you should be looking at trading the longer timeframe charts but how can you trade the longer timeframe charts because I need to put a small stop loss in and that means I'm getting stopped out all the time." Now, that's clearly a lack of understanding of the market and what you need to be doing because you can't just place a 0.1 position size, let's say, on a daily trade if that's the same position size that you place on a five minute chart trade, as an example. So, therefore, you're position size on a daily chart trade might be, let's say, 0.02 lots or whatever it needs to be according to your account size and the trade that you're taking. So, I hope that helps. It really will make a massive difference to your over...]]>279falsefullhttps://www.spreaker.com/episode/257-how-to-trade-crypto-currencies-profitably--13856546
How to trade Crypto Currencies Profitably
In this weekly video:
00:29 – The hot topic of conversation
00:49 – I took a Sell trade on Bitcoin on my live webinar
01:22 – Traded on Axi Trader FX account
01:54 – Technically the setup was the same as trading Forex charts
02:20 – Massive 37% loss since the high in December
02:50 – A client on mine has developed a robot which trades Bitcoin – Live Webinar on 25th January
04:03 – Click on the link below to attend the live webinar
Cryptocurrencies. Everybody's talking about them. If you want to know how to trade them profitably, listen up I've got some great news for you.
Hi, Forex Traders! Andrew Mitchem here, The Forex Trading Coach. Video and Podcast number 257.
The hot topic of conversation
Gonna talk about the hot topic of right now, which is cryptocurrencies, Bitcoin, et cetera. Wherever you go online, it's all over the internet; it's all over newspapers. Is it a good thing? Is it not a good thing? Is it a bubble? Are people gonna lose their homes over it? All these types of things are going on right now.
And up until recently, I haven't personally had a lot to do with cryptocurrencies.
I took a Sell trade on Bitcoin on my live webinar
But yesterday, I held a live two-hour live webinar for my clients. During that session, I saw a fantastic trade set-up on the Forex charts, but on Bitcoin. It was a sell-trade. If you've been following Bitcoin, for example, back in mid-December it was up at 19,000 U.S. dollars. Now it's just so dropped below $12,000. And so I saw a technical set-up on Bitcoin to sell it. It was on a four hour chart. It went really nicely.
Traded on Axi Trader FX account
The interesting thing was I took the trade on my AxiTrader account and the minimum lot size I was able to place was one standard lot. So with a volatile market like Bitcoin, that was quite a lot of movement and quite a big fluctuation in my profit and loss as the trade was progressing. So it is something that you'd need to have a relatively large account size in order to do because there is potentially a lot of money to be made and also potentially some to be lost if you don't know what you're doing.
Technically the setup was the same as trading Forex charts
But what I really did like about it is technically, it didn't matter whether I was trading the Euro U.S. dollar or Bitcoin against the U.S. dollar because technically, the set-up was there and my charts and my software picked the candle patent that I've always looked for regardless of what I'm trading or what time frame. And saw the trade, basically, took the trade. Now, as I mentioned volatility is there
Massive 37% loss since the high in December
The good thing is that with the way that I traded it through my broker, my Meta Trader 4 broker, is I didn't need $19,000 U.S. like you would have back in mid-December. Just imagine how those people are feeling today when the prices right now as I'm recording this is under $12,000. That's around a 37% loss on their money in one month. That's not good. You know? The great thing is that with leverage through your broker, you don't need that money upfront.
A client on mine has developed a robot which trades Bitcoin – Live Webinar on 25th January
So. Good things to tell you about. Ivo, who is a client of mine over in Ireland. He's been with me for about probably four or five years. He's developed a trading robot or an expert advisor that trades my strategy. He calls it Satoshi and he trades it very successfully across Forex pairs. Now he's developed that same robot to work across Bitcoin.
Now, next week on Thursday the 25th of January, we're gonna be holding a live webinar. It's gonna be in the European session and what I'm going to do is I'm gonna put a link below this video an...]]>https://theforextradingcoach.com/?p=7583Sun, 21 Jan 2018 22:14:13 +0000Andrew MitchemPodcast: How to trade Crypto Currencies Profitably In this weekly video: 00:29 – The hot topic of conversation 00:49 – I took a Sell trade on Bitcoin on my live webinar 01:22 – Traded on Axi Trader FX account 01:54 – Technically the setup was...
How to trade Crypto Currencies Profitably
In this weekly video:
00:29 – The hot topic of conversation
00:49 – I took a Sell trade on Bitcoin on my live webinar
01:22 – Traded on Axi Trader FX account
01:54 – Technically the setup was the same as trading Forex charts
02:20 – Massive 37% loss since the high in December
02:50 – A client on mine has developed a robot which trades Bitcoin – Live Webinar on 25th January
04:03 – Click on the link below to attend the live webinar
Cryptocurrencies. Everybody's talking about them. If you want to know how to trade them profitably, listen up I've got some great news for you.
Hi, Forex Traders! Andrew Mitchem here, The Forex Trading Coach. Video and Podcast number 257.
The hot topic of conversation
Gonna talk about the hot topic of right now, which is cryptocurrencies, Bitcoin, et cetera. Wherever you go online, it's all over the internet; it's all over newspapers. Is it a good thing? Is it not a good thing? Is it a bubble? Are people gonna lose their homes over it? All these types of things are going on right now.
And up until recently, I haven't personally had a lot to do with cryptocurrencies.
I took a Sell trade on Bitcoin on my live webinar
But yesterday, I held a live two-hour live webinar for my clients. During that session, I saw a fantastic trade set-up on the Forex charts, but on Bitcoin. It was a sell-trade. If you've been following Bitcoin, for example, back in mid-December it was up at 19,000 U.S. dollars. Now it's just so dropped below $12,000. And so I saw a technical set-up on Bitcoin to sell it. It was on a four hour chart. It went really nicely.
Traded on Axi Trader FX account
The interesting thing was I took the trade on my AxiTrader account and the minimum lot size I was able to place was one standard lot. So with a volatile market like Bitcoin, that was quite a lot of movement and quite a big fluctuation in my profit and loss as the trade was progressing. So it is something that you'd need to have a relatively large account size in order to do because there is potentially a lot of money to be made and also potentially some to be lost if you don't know what you're doing.
Technically the setup was the same as trading Forex charts
But what I really did like about it is technically, it didn't matter whether I was trading the Euro U.S. dollar or Bitcoin against the U.S. dollar because technically, the set-up was there and my charts and my software picked the candle patent that I've always looked for regardless of what I'm trading or what time frame. And saw the trade, basically, took the trade. Now, as I mentioned volatility is there
Massive 37% loss since the high in December
The good thing is that with the way that I traded it through my broker, my Meta Trader 4 broker, is I didn't need $19,000 U.S. like you would have back in mid-December. Just imagine how those people are feeling today when the prices right now as I'm recording this is under $12,000. That's around a 37% loss on their money in one month. That's not good. You know? The great thing is that with leverage through your broker, you don't need that money upfront.
A client on mine has developed a robot which trades Bitcoin – Live Webinar on 25th January
So. Good things to tell you about. Ivo, who is a client of mine over in Ireland. He's been with me for about probably four or five years. He's developed a trading robot or an expert advisor that trades my strategy. He calls it Satoshi and he trades it very successfully across Forex pairs. Now he's developed that same robot to work across Bitcoin.
Now, next week on Thursday the 25th of January, we're gonna be holding a live webinar. It's gonna be in the European session and what I'm going to do is I'm gonna put a link below this video an...]]>279falsefullhttps://www.spreaker.com/episode/256-how-to-make-2018-a-profitable-trading-year--13802128
How To Make 2018 a Profitable Trading Year
In this weekly video:
00:22 – Met with Dean Hyde from Blueberry Markets in Sydney
00:50 – Have a profitable 2018 trading year.
01:40 – Back into trading for the year. What do you need?
02:30 – A set of rules and goals.
Hi Traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast #256. Happy New Year to you.
This is the first video and podcast for 2018. As you can see, I'm in Sydney in Australia, where I've been here for the last week. Had a great time here.
Met with Dean Hyde from Blueberry Markets in Sydney
I've just had a meeting with Dean Hyde who is the owner of Blueberry Markets. If you've never tried Blueberry Markets I can say that they are an extremely good broker; offer everything that we're looking for, 5:00PM close of day charts, Metatrader 4 broker, ASIC regulated here in Australia. Extremely high level of personal service for all our clients. I'll put a link to Blueberry Markets below this video.
The video and podcast for this week is all about making sure your trading progresses well and profitably into 2018.
Have a profitable 2018 trading year.
If you've already been trading, make sure that you use last year's information to your advantage; go through your charts, go through your account from 2017. What worked? What timeframes worked for you? What currency pairs? Are you a news trader? A Technical trader? What worked consistently well? What type of setups? Make a note of that, and obviously use that information to your advantage. Because likewise, what did not work? What can you cut out from your trading? What silly mistakes can you cut out that cost you money last year that you don't want to continue with this year? Use that information to your advantage now that the market's just a tiny bit quiet as we head into the new year.
My manual trading started Wednesday the 10th of January, and now we're back into more normal market conditions it's now a good time to start manual trading again.
Back into trading for the year. What do you need?
Other decisions you can take heading into the new year; how are you going to progress your education? What are you looking for? Are you looking for a mentor? Some form of course? Are you looking for forums? What is it that you really need in your trading heading into 2018 to make it a great year?
Have a think about that. If it's coaching, if it's some form of membership, then of course I can help you. Training clients all around the world, 58 countries at last count. I've been trading for now nearly 15 years, and coaching for nine years. So I've seen all sorts of different traders from all different parts of the world. All market conditions we've experienced over that time.
It's really now a time to focus on your goals. What I do see is people who are consistent with looking at setting goals are the people who do the best. Look for goals, look to have a set of rules that work for you.
A set of rules and goals.
Really important that you do that. Take your time, do that now. Consistently review that on a daily basis as you trade throughout 2018, and it will make a massive difference to your overall results.
Once again, this is Andrew Mitchem, owner of the Forex Trading Coach, in Sydney. Have a great time with your trading, and I'll see you this time next week.
Click here to Download Blueberry Market MT4 Broker
Check out my suggested Forex Brokers! Click here!
Get my #1 Forex Trading Strategy! Click here!]]>https://theforextradingcoach.com/?p=7575Sun, 14 Jan 2018 22:56:27 +0000Andrew MitchemPodcast: How To Make 2018 a Profitable Trading Year In this weekly video: 00:22 – Met with Dean Hyde from Blueberry Markets in Sydney 00:50 – Have a profitable 2018 trading year. 01:40 – Back into trading for the year. What do you need? 02:30 –...
How To Make 2018 a Profitable Trading Year
In this weekly video:
00:22 – Met with Dean Hyde from Blueberry Markets in Sydney
00:50 – Have a profitable 2018 trading year.
01:40 – Back into trading for the year. What do you need?
02:30 – A set of rules and goals.
Hi Traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast #256. Happy New Year to you.
This is the first video and podcast for 2018. As you can see, I'm in Sydney in Australia, where I've been here for the last week. Had a great time here.
Met with Dean Hyde from Blueberry Markets in Sydney
I've just had a meeting with Dean Hyde who is the owner of Blueberry Markets. If you've never tried Blueberry Markets I can say that they are an extremely good broker; offer everything that we're looking for, 5:00PM close of day charts, Metatrader 4 broker, ASIC regulated here in Australia. Extremely high level of personal service for all our clients. I'll put a link to Blueberry Markets below this video.
The video and podcast for this week is all about making sure your trading progresses well and profitably into 2018.
Have a profitable 2018 trading year.
If you've already been trading, make sure that you use last year's information to your advantage; go through your charts, go through your account from 2017. What worked? What timeframes worked for you? What currency pairs? Are you a news trader? A Technical trader? What worked consistently well? What type of setups? Make a note of that, and obviously use that information to your advantage. Because likewise, what did not work? What can you cut out from your trading? What silly mistakes can you cut out that cost you money last year that you don't want to continue with this year? Use that information to your advantage now that the market's just a tiny bit quiet as we head into the new year.
My manual trading started Wednesday the 10th of January, and now we're back into more normal market conditions it's now a good time to start manual trading again.
Back into trading for the year. What do you need?
Other decisions you can take heading into the new year; how are you going to progress your education? What are you looking for? Are you looking for a mentor? Some form of course? Are you looking for forums? What is it that you really need in your trading heading into 2018 to make it a great year?
Have a think about that. If it's coaching, if it's some form of membership, then of course I can help you. Training clients all around the world, 58 countries at last count. I've been trading for now nearly 15 years, and coaching for nine years. So I've seen all sorts of different traders from all different parts of the world. All market conditions we've experienced over that time.
It's really now a time to focus on your goals. What I do see is people who are consistent with looking at setting goals are the people who do the best. Look for goals, look to have a set of rules that work for you.
A set of rules and goals.
Really important that you do that. Take your time, do that now. Consistently review that on a daily basis as you trade throughout 2018, and it will make a massive difference to your overall results.
Once again, this is Andrew Mitchem, owner of the Forex Trading Coach, in Sydney. Have a great time with your trading, and I'll see you this time next week.
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How Was Your Trading Year in 2017?
In this weekly video:
00:25 – Were you profitable in 2017?
01:00 – Look back at your trading year and make a good analysis on your performance
01:45 – Use the quieter market and the benefit of hindsight to improve your trading next year
02:25 – Have a look at my 255 videos and podcasts over the holidays
02:50 – Strength and weakness analysis and free trading strategy
03:16 – 2017 in summary and helping create independent and profitable traders
04:10 – If you want my help in 2018, just contact me and I’ll be glad to help
04:25 – Merry Christmas and Happy New Year
How was your 2017 trading year? Was it a good one? Let's talk about that and more, right now.
Hi Forex traders! Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 255, and this is the last video and podcast of the year 2017.
Were you profitable in 2017?
So it's a good chance and a good time right now to reflect on your trading year of 2017. How was it? Was it a good year? Have you been profitable? Have you lost money? Have you broken even? How was it overall? Were there certain months, were there certain times that were good, that were not good? And certain types of trade patterns that you took. Are you a news trader? Are you a technical trader? What kind of timeframe charts do you trade? What has worked for you? What has not worked for you? It's a really good time.
Look back at your trading year and make a good analysis on your performance
It's an important thing to do right now is just to look back at that year. With the benefit of hindsight, what would you do differently? What did really work for you? What didn't work? Where's the consistency? Is there consistency? Is your trading all over the place? Are you getting a high win rate but still losing money? Different things like that. Have you had a few big terrible trades that have wiped out lots of gains? And I think it's a really important time to reflect and to go back and look at your trades, look at them on the charts, and just use that benefit of hindsight. Was that a silly trade to take? Did it break all my rules? Was it a great trade? Why was this a good trade, and what did it have as the setup?
Use the quieter market and the benefit of hindsight to improve your trading next year
What can you learn from that? Use this quieter time now on the market, because really the market from next week is going to be fairly quiet. I'm going no longer than Friday the 22nd of December, probably even maybe a day or so finished trading before that, and I'm not going to start trading until at least Wednesday, the 10th of January. I really want to get into that first full week of the year, and the Monday and Tuesday the 8th and 9th are quite likely to be a bit slow, so Wednesday the 10th at the absolute earliest for me before I start trading again into 2018.
Have a look at my 255 videos and podcasts over the holidays
So what can you do over this holiday period? Well, I encourage you to go and have a look through a lot of my past videos and podcasts. This is video and podcast number 255, so there's a massive amount of information there for you to go and look through. Do you want to look at trading daily charts? Do you want to learn about different timeframes, reward and risk? Low risk per trade? All those different things. There is so much information freely available on my website.
Strength and weakness analysis and free trading strategy
You can go back through my strength and weakness analysis, have a look on the daily charts. How could you best use that with your own strategy? If you don't have a strategy I have a freely available strategy available on my website for you to download and to learn from. I have a risk calculator there available.]]>https://theforextradingcoach.com/?p=7549Sun, 17 Dec 2017 22:21:43 +0000Andrew MitchemPodcast: How Was Your Trading Year in 2017? In this weekly video: 00:25 – Were you profitable in 2017? 01:00 – Look back at your trading year and make a good analysis on your performance 01:45 – Use the quieter market and the benefit of hindsight...
How Was Your Trading Year in 2017?
In this weekly video:
00:25 – Were you profitable in 2017?
01:00 – Look back at your trading year and make a good analysis on your performance
01:45 – Use the quieter market and the benefit of hindsight to improve your trading next year
02:25 – Have a look at my 255 videos and podcasts over the holidays
02:50 – Strength and weakness analysis and free trading strategy
03:16 – 2017 in summary and helping create independent and profitable traders
04:10 – If you want my help in 2018, just contact me and I’ll be glad to help
04:25 – Merry Christmas and Happy New Year
How was your 2017 trading year? Was it a good one? Let's talk about that and more, right now.
Hi Forex traders! Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 255, and this is the last video and podcast of the year 2017.
Were you profitable in 2017?
So it's a good chance and a good time right now to reflect on your trading year of 2017. How was it? Was it a good year? Have you been profitable? Have you lost money? Have you broken even? How was it overall? Were there certain months, were there certain times that were good, that were not good? And certain types of trade patterns that you took. Are you a news trader? Are you a technical trader? What kind of timeframe charts do you trade? What has worked for you? What has not worked for you? It's a really good time.
Look back at your trading year and make a good analysis on your performance
It's an important thing to do right now is just to look back at that year. With the benefit of hindsight, what would you do differently? What did really work for you? What didn't work? Where's the consistency? Is there consistency? Is your trading all over the place? Are you getting a high win rate but still losing money? Different things like that. Have you had a few big terrible trades that have wiped out lots of gains? And I think it's a really important time to reflect and to go back and look at your trades, look at them on the charts, and just use that benefit of hindsight. Was that a silly trade to take? Did it break all my rules? Was it a great trade? Why was this a good trade, and what did it have as the setup?
Use the quieter market and the benefit of hindsight to improve your trading next year
What can you learn from that? Use this quieter time now on the market, because really the market from next week is going to be fairly quiet. I'm going no longer than Friday the 22nd of December, probably even maybe a day or so finished trading before that, and I'm not going to start trading until at least Wednesday, the 10th of January. I really want to get into that first full week of the year, and the Monday and Tuesday the 8th and 9th are quite likely to be a bit slow, so Wednesday the 10th at the absolute earliest for me before I start trading again into 2018.
Have a look at my 255 videos and podcasts over the holidays
So what can you do over this holiday period? Well, I encourage you to go and have a look through a lot of my past videos and podcasts. This is video and podcast number 255, so there's a massive amount of information there for you to go and look through. Do you want to look at trading daily charts? Do you want to learn about different timeframes, reward and risk? Low risk per trade? All those different things. There is so much information freely available on my website.
Strength and weakness analysis and free trading strategy
You can go back through my strength and weakness analysis, have a look on the daily charts. How could you best use that with your own strategy? If you don't have a strategy I have a freely available strategy available on my website for you to download and to learn from. I have a risk calculator there available.]]>311falsefullhttps://www.spreaker.com/episode/254-amazing-trading-results--13552964
Amazing Trading Results
In this weekly video:
00:32 – We all want the results – but do you put in the effort to succeed?
01:20 – Live webinar with my clients – amazing results
01:45 – 10.96% gain in 4 weeks
02:55 – Dedication and commitment pays off
04:10 – Trade Copier Services starting in 2018
05:23 – Learn how to trade or have your account traded for you
I'm going to share with you some amazing Forex results and how you can also benefit from them. Let's talk about that and more, right now.
Hi, Forex traders. Andrew Mitchem, here, the owner of the Forex Trading Coach, video and podcast number 254. I want to talk about some amazing results, and how you can also have the opportunity of benefiting from those results. More about that shortly.
We all want the results – but do you put in the effort to succeed?
As Forex traders, we all want results, don't we? We all want to profit. That's why we're doing this, after all. But the problem is, with the learning process, is really, how many people put the dedication in, and the effort in, to learn? A lot of people spend a lot of time on charts, on forum sites, basically messing around, thinking they're getting somewhere, but in reality they're probably not. Does that sound familiar?
I know when I first started trading, you know, when I look back all those years ago, like 14 years ago, that's what I was doing a lot of. I was sort of jumping round, adding different indicators, optimising things, going along on to the next shiny object, but not really doing dedicated and committed work to one strategy. That's the problem that most people find.
Live webinar with my clients – amazing results
Last night, I held a live two-hour webinar with my clients. It was an amazing webinar. I was so pleased with the information that was shared with me during that session, unexpected information. During the webinar, I took two trades, as well. One trade on the Euro Canadian Dollar in one-hour chart, in front of everybody, in 17 minutes hit the full profit target and made an amazing return.
10.96% gain in 4 weeks
But during the webinar I shared with clients my results. And in the last four weeks, I'm up 10.96% on my account, my live account. It's the same account that I have, that I manage funds for. 10.96%, still with today to go, being Friday. Although it is non-farm payroll day, so I'm not expecting too much. But almost 11% return on a live account in four weeks with very low risk.
I thought I was doing really well, which I am, but when I heard some of the results that some of my clients are achieving, as well, that's just blown me away of how good the results are. That was consistently coming through, from different people typing in. Some had emailed in advance. In fact, I had one guy who lives locally, here in New Zealand, call me yesterday and said, "Look, Andrew, can you show some of my trades on your webinar tonight? I'm trading just the four-hour charts." And he's just having some amazing success.
Had other people that are trading one-hour charts, some that are trading just daily charts. Some were trading the offline charts that I provide, like six and 12-hour charts. Some are trading just weekly and daily. It depends on what suits the individual. But the amazing thing is.
Dedication and commitment pays off
And the really pleasing thing that I like, is that after the dedication, and the work that these people show, and they commit themselves to becoming a good trader and learning, using the tools that I offer, you know, logging in daily to my daily trades recommendations … which, by the way, are doing really well … attending the live weekly webinars, being on the forum site, asking questions, all those type of things to ensure that, over time,]]>https://theforextradingcoach.com/?p=7531Sun, 10 Dec 2017 22:46:31 +0000Andrew MitchemPodcast: Amazing Trading Results In this weekly video: 00:32 – We all want the results – but do you put in the effort to succeed? 01:20 – Live webinar with my clients – amazing results 01:45 – 10.96% gain in 4 weeks 02:55 – Dedication and...
Amazing Trading Results
In this weekly video:
00:32 – We all want the results – but do you put in the effort to succeed?
01:20 – Live webinar with my clients – amazing results
01:45 – 10.96% gain in 4 weeks
02:55 – Dedication and commitment pays off
04:10 – Trade Copier Services starting in 2018
05:23 – Learn how to trade or have your account traded for you
I'm going to share with you some amazing Forex results and how you can also benefit from them. Let's talk about that and more, right now.
Hi, Forex traders. Andrew Mitchem, here, the owner of the Forex Trading Coach, video and podcast number 254. I want to talk about some amazing results, and how you can also have the opportunity of benefiting from those results. More about that shortly.
We all want the results – but do you put in the effort to succeed?
As Forex traders, we all want results, don't we? We all want to profit. That's why we're doing this, after all. But the problem is, with the learning process, is really, how many people put the dedication in, and the effort in, to learn? A lot of people spend a lot of time on charts, on forum sites, basically messing around, thinking they're getting somewhere, but in reality they're probably not. Does that sound familiar?
I know when I first started trading, you know, when I look back all those years ago, like 14 years ago, that's what I was doing a lot of. I was sort of jumping round, adding different indicators, optimising things, going along on to the next shiny object, but not really doing dedicated and committed work to one strategy. That's the problem that most people find.
Live webinar with my clients – amazing results
Last night, I held a live two-hour webinar with my clients. It was an amazing webinar. I was so pleased with the information that was shared with me during that session, unexpected information. During the webinar, I took two trades, as well. One trade on the Euro Canadian Dollar in one-hour chart, in front of everybody, in 17 minutes hit the full profit target and made an amazing return.
10.96% gain in 4 weeks
But during the webinar I shared with clients my results. And in the last four weeks, I'm up 10.96% on my account, my live account. It's the same account that I have, that I manage funds for. 10.96%, still with today to go, being Friday. Although it is non-farm payroll day, so I'm not expecting too much. But almost 11% return on a live account in four weeks with very low risk.
I thought I was doing really well, which I am, but when I heard some of the results that some of my clients are achieving, as well, that's just blown me away of how good the results are. That was consistently coming through, from different people typing in. Some had emailed in advance. In fact, I had one guy who lives locally, here in New Zealand, call me yesterday and said, "Look, Andrew, can you show some of my trades on your webinar tonight? I'm trading just the four-hour charts." And he's just having some amazing success.
Had other people that are trading one-hour charts, some that are trading just daily charts. Some were trading the offline charts that I provide, like six and 12-hour charts. Some are trading just weekly and daily. It depends on what suits the individual. But the amazing thing is.
Dedication and commitment pays off
And the really pleasing thing that I like, is that after the dedication, and the work that these people show, and they commit themselves to becoming a good trader and learning, using the tools that I offer, you know, logging in daily to my daily trades recommendations … which, by the way, are doing really well … attending the live weekly webinars, being on the forum site, asking questions, all those type of things to ensure that, over time,]]>379falsefullhttps://www.spreaker.com/episode/253-walk-before-you-can-run--13499249
Walk Before You Can Run
In this weekly video:
00:21 – Our goal is to be profitable
00:58 – Start slowly and then your trading will be better long term
01:40 – Begin with a demo account
02:50 – When you change to a live account, trade the same way
03:16 – Trading account up +7.4% in 3 weeks
04:50 – Forget making money when you start trading
You need to be able to walk before you can run as a Forex trader. Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 253. Now as a trader, our aim, our bigger picture and goal, is to be profitable, is to make lots of money from our trading. Okay? That's obvious.
Our goal is to be profitable
State the obvious first. But the problem is that a lot of traders have that goal in mind right now and try to achieve that right now, even though they're just starting. And it's a big problem and almost everybody does it. But if I can give you some help and some tips and advice from my experience both from myself and all the people, thousands of traders all around the world that I've taught over the years, it would be this. Learn to walk before you can run. You've obviously heard that phrase in so many different aspects of life and in trading unfortunately it's exactly the same. It really is important that you do that.
Start slowly and then your trading will be better long term
It's important that you start small. You see everybody wants to make money and everybody wants to pay the bills, give up their job, go and live remotely and work and create an income from their trading. And yes you can do that, but you are not going to do that at the beginning or near the beginning of your trading career. It's gonna take you several years to get to at least that level. So don't try to do it earlier because almost certainly not gonna happen.
And you need to start small and you need to start on a demo account. You need to understand your strategy that you're trading, the methodology behind it and be methodical with your trading.
Begin with a demo account
Don't just think, "Oh it's a demo account and therefore I don't really care if it takes a loss or I don't really care it's still open over the weekend" if your plan is to shut trades before the weekend. Don't do that. Use your demo account to make mistakes that you're gonna make with money management and placing stock losses and profit targets and position sizing wrong, all that type of thing. And then once you've understood that, get onto a live account but make it a small live account.
By the way your demo needs to be a small demo account as well. Don't go opening an account of 50 or 100,000 dollars of a demo account, because that's what the brokers want you to do but that's what you should not do. You should open a small demo account because when you make that transition to a live account, you're likely to be opening a small live account. Most people that open an account maybe 5,000, maybe 10,000 dollars. But probably not a lot more as your initial starting balance. And so make sure that your demo account's similar. Make sure it's quite small.
When you change to a live account, trade the same way
So when you go to live. What are you gonna do different? if you've been profitable on a demo? The answer is nothing. You should continue to trade the same way. Continue to trade small risk and have controlled risk. But it's really important that you get this right because if you get this right and you do take your time and you do almost become a bit boring with your trading, long term it will pay off completely.
Trading account up +7.4% in 3 weeks
Give you an example. About a month ago Pepperstone, the broker, closed down in New Zealand.]]>https://theforextradingcoach.com/?p=7517Sun, 03 Dec 2017 22:53:41 +0000Andrew MitchemPodcast: Walk Before You Can Run In this weekly video: 00:21 – Our goal is to be profitable 00:58 – Start slowly and then your trading will be better long term 01:40 – Begin with a demo account 02:50 – When you change to a live account, trade...
Walk Before You Can Run
In this weekly video:
00:21 – Our goal is to be profitable
00:58 – Start slowly and then your trading will be better long term
01:40 – Begin with a demo account
02:50 – When you change to a live account, trade the same way
03:16 – Trading account up +7.4% in 3 weeks
04:50 – Forget making money when you start trading
You need to be able to walk before you can run as a Forex trader. Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 253. Now as a trader, our aim, our bigger picture and goal, is to be profitable, is to make lots of money from our trading. Okay? That's obvious.
Our goal is to be profitable
State the obvious first. But the problem is that a lot of traders have that goal in mind right now and try to achieve that right now, even though they're just starting. And it's a big problem and almost everybody does it. But if I can give you some help and some tips and advice from my experience both from myself and all the people, thousands of traders all around the world that I've taught over the years, it would be this. Learn to walk before you can run. You've obviously heard that phrase in so many different aspects of life and in trading unfortunately it's exactly the same. It really is important that you do that.
Start slowly and then your trading will be better long term
It's important that you start small. You see everybody wants to make money and everybody wants to pay the bills, give up their job, go and live remotely and work and create an income from their trading. And yes you can do that, but you are not going to do that at the beginning or near the beginning of your trading career. It's gonna take you several years to get to at least that level. So don't try to do it earlier because almost certainly not gonna happen.
And you need to start small and you need to start on a demo account. You need to understand your strategy that you're trading, the methodology behind it and be methodical with your trading.
Begin with a demo account
Don't just think, "Oh it's a demo account and therefore I don't really care if it takes a loss or I don't really care it's still open over the weekend" if your plan is to shut trades before the weekend. Don't do that. Use your demo account to make mistakes that you're gonna make with money management and placing stock losses and profit targets and position sizing wrong, all that type of thing. And then once you've understood that, get onto a live account but make it a small live account.
By the way your demo needs to be a small demo account as well. Don't go opening an account of 50 or 100,000 dollars of a demo account, because that's what the brokers want you to do but that's what you should not do. You should open a small demo account because when you make that transition to a live account, you're likely to be opening a small live account. Most people that open an account maybe 5,000, maybe 10,000 dollars. But probably not a lot more as your initial starting balance. And so make sure that your demo account's similar. Make sure it's quite small.
When you change to a live account, trade the same way
So when you go to live. What are you gonna do different? if you've been profitable on a demo? The answer is nothing. You should continue to trade the same way. Continue to trade small risk and have controlled risk. But it's really important that you get this right because if you get this right and you do take your time and you do almost become a bit boring with your trading, long term it will pay off completely.
Trading account up +7.4% in 3 weeks
Give you an example. About a month ago Pepperstone, the broker, closed down in New Zealand.]]>351falsefullhttps://www.spreaker.com/episode/252-market-conditions-are-changing-all-of-the-time-so-must-you--13432459
Market conditions are changing all of the time – so must you
In this weekly video:
00:23 – Why you need to adapt to the current market conditions
00:51 – Does your system only work in trending markets?
01:27 – A very quiet week – Thanks Giving Day in the US
02:05 – Candlesticks and candle patterns
02:35 – Live webinar with clients
02:55 – Account is up +2.21% for the week so far in 4 days
03:23 – Cyber Monday Sale – 24 hours only on Monday 27th November
You need to adapt to the current market conditions to be a good trader. Let's talk about that and more right now.
Hi, Forex traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach video and podcast number 252.
Why you need to adapt to the current market conditions
This video and podcast is all about the current market conditions and why you need to adapt to the current market conditions to be a good trader. Why? Well, market conditions are changing all the time. I've been trading for 14 years, and I've seen all sorts of conditions, but the problem that you have is you don't really know what market you're in right now until a little bit later, until hindsight. The problem is with people, and it's a common problem.
Does your system only work in trending markets?
The problem is, with a lot of people, is they rely on a system that relies on only working on trending markets.
To give you an example, a lot of systems that use moving average crossovers, let's say. A lot of those, when you see pictures of systems like that online, you'll see massive up trends or massive down trends and line A crosses over line B. You see this enormous trend, and everybody goes, "Wow, fantastic. Look at all that money we made." That's really good, and that does work in the strong trending markets. The problem is you never know when that trend's going to begin or end.
A very quiet week – Thanks Giving Day in the US
Have a look at the current market conditions that we're in right now, just this current week. We've had a very, very quiet week so far, and today's Friday, so I'm not expecting a great deal to happen today. Why? Well, it's thanksgiving day in America, and the market is very, very quiet. Yesterday, there was a public holiday in Japan, and going into Friday in America, it's black Friday, so again, not expecting too much to happen. If you have some form of breakout system, if you have some form of trend strategy, right now, you will be struggling because more than likely, your system will be taking lots and lots of trades that are getting stopped out more than likely.
Candlesticks and candle patterns
That's why I always comes back to candlesticks and candle patterns to me as a trader, which is why I love trading them, as simple as that.
Now, not every trading pattern and not every candlestick has equal weight and value. That's why you need to analyse they're all at, what part of the charter are you in right now. Certainly, when you understand candle patterns, when you get range band markets and the candles are going sideways, then, there's nothing there to trade.
Live webinar with clients
Another example. Yesterday, I held a live two-hour webinar for my clients in the European session on the Thursday morning session, Europe time. There were no trades. I couldn't see a single trade in the entire two hours that I took. That is part of the lesson. Don't trade just for the sake of trading. There were no setups. I couldn't take anything.
Account is up +2.21% for the week so far in 4 days
This entire week, the first four days of the week, I've not posted my Friday trades yet, but the first four days of the week, I've only taken three trades on the daily charts. However, going down to the shorter timeframe charts because it has been quite a quie...]]>https://theforextradingcoach.com/?p=7504Sun, 26 Nov 2017 22:27:42 +0000Andrew MitchemPodcast: Market conditions are changing all of the time – so must you In this weekly video: 00:23 – Why you need to adapt to the current market conditions 00:51 – Does your system only work in trending markets? 01:27 – A very quiet week – Thanks...
Market conditions are changing all of the time – so must you
In this weekly video:
00:23 – Why you need to adapt to the current market conditions
00:51 – Does your system only work in trending markets?
01:27 – A very quiet week – Thanks Giving Day in the US
02:05 – Candlesticks and candle patterns
02:35 – Live webinar with clients
02:55 – Account is up +2.21% for the week so far in 4 days
03:23 – Cyber Monday Sale – 24 hours only on Monday 27th November
You need to adapt to the current market conditions to be a good trader. Let's talk about that and more right now.
Hi, Forex traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach video and podcast number 252.
Why you need to adapt to the current market conditions
This video and podcast is all about the current market conditions and why you need to adapt to the current market conditions to be a good trader. Why? Well, market conditions are changing all the time. I've been trading for 14 years, and I've seen all sorts of conditions, but the problem that you have is you don't really know what market you're in right now until a little bit later, until hindsight. The problem is with people, and it's a common problem.
Does your system only work in trending markets?
The problem is, with a lot of people, is they rely on a system that relies on only working on trending markets.
To give you an example, a lot of systems that use moving average crossovers, let's say. A lot of those, when you see pictures of systems like that online, you'll see massive up trends or massive down trends and line A crosses over line B. You see this enormous trend, and everybody goes, "Wow, fantastic. Look at all that money we made." That's really good, and that does work in the strong trending markets. The problem is you never know when that trend's going to begin or end.
A very quiet week – Thanks Giving Day in the US
Have a look at the current market conditions that we're in right now, just this current week. We've had a very, very quiet week so far, and today's Friday, so I'm not expecting a great deal to happen today. Why? Well, it's thanksgiving day in America, and the market is very, very quiet. Yesterday, there was a public holiday in Japan, and going into Friday in America, it's black Friday, so again, not expecting too much to happen. If you have some form of breakout system, if you have some form of trend strategy, right now, you will be struggling because more than likely, your system will be taking lots and lots of trades that are getting stopped out more than likely.
Candlesticks and candle patterns
That's why I always comes back to candlesticks and candle patterns to me as a trader, which is why I love trading them, as simple as that.
Now, not every trading pattern and not every candlestick has equal weight and value. That's why you need to analyse they're all at, what part of the charter are you in right now. Certainly, when you understand candle patterns, when you get range band markets and the candles are going sideways, then, there's nothing there to trade.
Live webinar with clients
Another example. Yesterday, I held a live two-hour webinar for my clients in the European session on the Thursday morning session, Europe time. There were no trades. I couldn't see a single trade in the entire two hours that I took. That is part of the lesson. Don't trade just for the sake of trading. There were no setups. I couldn't take anything.
Account is up +2.21% for the week so far in 4 days
This entire week, the first four days of the week, I've not posted my Friday trades yet, but the first four days of the week, I've only taken three trades on the daily charts. However, going down to the shorter timeframe charts because it has been quite a quie...]]>263falsefullhttps://www.spreaker.com/episode/251-what-prevents-traders-from-being-successful--13371096
What Prevents Traders From Being Successful?
In this weekly video:
00:27 – 4 Live Webinars helping traders
01:12 – The Top 3 problems that traders have – #1 No Strategy
01:51 – How to create a strategy that works for you
02:37 – #2 Not understanding Money Management
03:37 – #3 Lack of time to trade
04:26 – Look at the close of a candle
05:00 – Trading D1 and W1 charts when I travel
05:25 – 1 Day Cyber Monday Sale on Monday 27th November – Register using the link below
I'm going to explain the top three problems that are preventing Forex traders from being profitable. Let's get into it right now.
Hi traders, Andrew Mitchem here, the Forex Trading Coach. Video, and podcast number 251. I thought it's such a beautiful day here, I would come outside and make a video.
4 Live Webinars helping traders
What I wanted to talk about today was the feedback that I received from a survey that I sent out recently to 35,000 Forex traders all around the world. Had a lot of replies back, and as a result of that, I‘ve put together over the last two weeks, four live webinars. They're about one hour. Well, last night's one was about one and a half hours, because we had so much information to cover. I'll put a link to that last video below this video and podcast also, so you can go and watch that.
Also, on that webinar, I explained how I'd made a 3% gain, or just over a 3% gain in the last week on live account. I shared with the people on that webinar, some of the trades that I'd taken.
The Top 3 problems that traders have – #1 No Strategy
The important thing that I want to cover now, is to explain the top three problems that the people telling me that are preventing them being profitable.
Number one, was people do not have a strategy. As I said on the webinar, that's really concerning. There's all these thousands and thousands, hundreds of thousands of traders out there, small retail traders, putting hard earned cash into their Forex account, and most of you don't have a strategy that is proven that all of you even believe in yourself. That's really not good when you think about it.
How to create a strategy that works for you
I was explaining information about how to create a strategy that works for you, about how when I started trading, it took me four years of going around in circles before I really got somewhere. I stripped everything off my charts, I started with understanding candlesticks, and candle patterns. I mentioned that I just use five candle patterns right now in my trading today.
My trading style's not changed in the last 10 years, because it's profitable, and it works in all market conditions, or currency pairs, or time frames. It's really important that you have something like that as well, something that you know will work through all conditions. Very, very important. It's all well and good having something that works in trending markets, or range-bound markets, but you don't know when the market's going to do that. Understanding a strategy that works for you, is a vitally, vitally important.
#2 Not understanding Money Management
The second point that we talked about was the lack of understanding of money management position sizing. It's crucial, because you can have, as I explained in the webinar, a 90% winning system. A 90% win rate. I said to people, "Look, if you come to me with a 90% win rate, would you say you had a good system?" Most people were saying, "Yeah, of course. 90% is fantastic." Winning nine trades out of 10.
The problem is a 90% win rate doesn't actually mean that much if you do not understand money management correctly, because the problem that a lot of people have is that one trade that loses every so often,]]>https://theforextradingcoach.com/?p=7489Sun, 19 Nov 2017 22:07:10 +0000Andrew MitchemPodcast: What Prevents Traders From Being Successful? In this weekly video: 00:27 – 4 Live Webinars helping traders 01:12 – The Top 3 problems that traders have – #1 No Strategy 01:51 – How to create a strategy that works for you 02:37 – #2 Not...
What Prevents Traders From Being Successful?
In this weekly video:
00:27 – 4 Live Webinars helping traders
01:12 – The Top 3 problems that traders have – #1 No Strategy
01:51 – How to create a strategy that works for you
02:37 – #2 Not understanding Money Management
03:37 – #3 Lack of time to trade
04:26 – Look at the close of a candle
05:00 – Trading D1 and W1 charts when I travel
05:25 – 1 Day Cyber Monday Sale on Monday 27th November – Register using the link below
I'm going to explain the top three problems that are preventing Forex traders from being profitable. Let's get into it right now.
Hi traders, Andrew Mitchem here, the Forex Trading Coach. Video, and podcast number 251. I thought it's such a beautiful day here, I would come outside and make a video.
4 Live Webinars helping traders
What I wanted to talk about today was the feedback that I received from a survey that I sent out recently to 35,000 Forex traders all around the world. Had a lot of replies back, and as a result of that, I‘ve put together over the last two weeks, four live webinars. They're about one hour. Well, last night's one was about one and a half hours, because we had so much information to cover. I'll put a link to that last video below this video and podcast also, so you can go and watch that.
Also, on that webinar, I explained how I'd made a 3% gain, or just over a 3% gain in the last week on live account. I shared with the people on that webinar, some of the trades that I'd taken.
The Top 3 problems that traders have – #1 No Strategy
The important thing that I want to cover now, is to explain the top three problems that the people telling me that are preventing them being profitable.
Number one, was people do not have a strategy. As I said on the webinar, that's really concerning. There's all these thousands and thousands, hundreds of thousands of traders out there, small retail traders, putting hard earned cash into their Forex account, and most of you don't have a strategy that is proven that all of you even believe in yourself. That's really not good when you think about it.
How to create a strategy that works for you
I was explaining information about how to create a strategy that works for you, about how when I started trading, it took me four years of going around in circles before I really got somewhere. I stripped everything off my charts, I started with understanding candlesticks, and candle patterns. I mentioned that I just use five candle patterns right now in my trading today.
My trading style's not changed in the last 10 years, because it's profitable, and it works in all market conditions, or currency pairs, or time frames. It's really important that you have something like that as well, something that you know will work through all conditions. Very, very important. It's all well and good having something that works in trending markets, or range-bound markets, but you don't know when the market's going to do that. Understanding a strategy that works for you, is a vitally, vitally important.
#2 Not understanding Money Management
The second point that we talked about was the lack of understanding of money management position sizing. It's crucial, because you can have, as I explained in the webinar, a 90% winning system. A 90% win rate. I said to people, "Look, if you come to me with a 90% win rate, would you say you had a good system?" Most people were saying, "Yeah, of course. 90% is fantastic." Winning nine trades out of 10.
The problem is a 90% win rate doesn't actually mean that much if you do not understand money management correctly, because the problem that a lot of people have is that one trade that loses every so often,]]>438falsefullhttps://www.spreaker.com/episode/250-how-many-forex-pairs-should-you-trade--13308316
How Many Forex Pairs Should You Trade?
In this weekly video:
00:22 – Survey results from 35,000 traders
00:58 – I focus on the main 8 currencies
01.24 – This week was a prime example
02:41 – Do not limit yourself to just one FX pair
03:25 – Give yourself the best chance of seeing a high quality trade setup
03:58 – Live and FREE webinars – 2 sessions this week for you to attend
04:34 – Click on the link below to register for a webinar
How many currency pairs should you look at trading? Let's talk about that and more, right now.
Hi Forex traders, its Andrew Mitchem here, the Forex Trading Coach. Video and Podcast Number 250.
Survey results from 35,000 traders
I want to talk about how many currency pairs should you look at. The reason I want to discuss that on today's video and podcast is because as you know I have surveyed over 35,000 Forex traders recently. One of the common themes that came through from peoples' answers was,
• I'm not sure how many trades I should look at?
• How many currency pairs should I look at?
• Should I focus on just one currency pair and get that right, or
• Should I look at multiple currency pairs?"
For me, you definitely should not just focus on one currency pair. I think you should give yourself a good range of options.
I focus on the main 8 currencies
I've always focused on the main eight currencies, that is the US Dollar, the Euro, the Pound, the Aussie, the Kiwi, the Canadian, the Swiss Franc, and the Japanese Yen. Then combinations of those eight. For example, I might look at the Canadian/Yen, or I might look at the Aussie/Swiss Franc, or of course the major pairs as well. But combinations of those eight.
This week was a prime example
Why? Well, this week has been a classic example of why you should look at not just one pair. Let's take the Australian Dollar for example. Go and have a look at your charts for the first three days of this week; so Monday, Tuesday, Wednesday of this week. The Aussie Dollar against the Canadian Dollar has moved 35 pips. That's it. Absolutely awful trading conditions. Why would you focus, say, on just one pair? If you focus just on the Australian Dollar currency, well go and have a look at the Euro/Australian Dollar pair since last week. If you look at last Thursday, on the daily chart, the currency pair has moved down, up, down, up, down, up, down, up. Day after day. Every day through to today, which is now Friday the 10th of November. So have a look on the daily charts; it's closed bullish, it's closed bearish, it's closed bullish, bearish, all the way through. It's basically done this up, down, up, down since last Thursday, changing every day.
How can you trade currencies like that? You just cannot do that. There's just nothing there setting up as a suitable trade example.
Do not limit yourself to just one FX pair
By limiting yourself to just one currency pair, or even just one currency, you're really doing yourself, in my opinion, a big disservice. Go and have a look at around … For me I have about 27, 28 currency pairs that I scan through the charts. On a daily chart, or even on a weekly chart and daily chart, it really doesn't take very long. It's a five, 10 minute job once a day on the daily charts to scan through. You can very easily train your eye to see whether there's anything there at all at the close of the daily chart 5:00 PM New York time. Then similar when you go down to shorter time frames, it's very, very easy to scan through trades to see if there's anything suitable.
Give yourself the best chance of seeing a high quality trade setup
Give yourself the best chance of finding something. Doesn't matter where you live. I live in New Zealand,]]>https://theforextradingcoach.com/?p=7472Sun, 12 Nov 2017 22:09:48 +0000Andrew MitchemPodcast: How Many Forex Pairs Should You Trade? In this weekly video: 00:22 – Survey results from 35,000 traders 00:58 – I focus on the main 8 currencies 01.24 – This week was a prime example 02:41 – Do not limit yourself to just one FX pair...
How Many Forex Pairs Should You Trade?
In this weekly video:
00:22 – Survey results from 35,000 traders
00:58 – I focus on the main 8 currencies
01.24 – This week was a prime example
02:41 – Do not limit yourself to just one FX pair
03:25 – Give yourself the best chance of seeing a high quality trade setup
03:58 – Live and FREE webinars – 2 sessions this week for you to attend
04:34 – Click on the link below to register for a webinar
How many currency pairs should you look at trading? Let's talk about that and more, right now.
Hi Forex traders, its Andrew Mitchem here, the Forex Trading Coach. Video and Podcast Number 250.
Survey results from 35,000 traders
I want to talk about how many currency pairs should you look at. The reason I want to discuss that on today's video and podcast is because as you know I have surveyed over 35,000 Forex traders recently. One of the common themes that came through from peoples' answers was,
• I'm not sure how many trades I should look at?
• How many currency pairs should I look at?
• Should I focus on just one currency pair and get that right, or
• Should I look at multiple currency pairs?"
For me, you definitely should not just focus on one currency pair. I think you should give yourself a good range of options.
I focus on the main 8 currencies
I've always focused on the main eight currencies, that is the US Dollar, the Euro, the Pound, the Aussie, the Kiwi, the Canadian, the Swiss Franc, and the Japanese Yen. Then combinations of those eight. For example, I might look at the Canadian/Yen, or I might look at the Aussie/Swiss Franc, or of course the major pairs as well. But combinations of those eight.
This week was a prime example
Why? Well, this week has been a classic example of why you should look at not just one pair. Let's take the Australian Dollar for example. Go and have a look at your charts for the first three days of this week; so Monday, Tuesday, Wednesday of this week. The Aussie Dollar against the Canadian Dollar has moved 35 pips. That's it. Absolutely awful trading conditions. Why would you focus, say, on just one pair? If you focus just on the Australian Dollar currency, well go and have a look at the Euro/Australian Dollar pair since last week. If you look at last Thursday, on the daily chart, the currency pair has moved down, up, down, up, down, up, down, up. Day after day. Every day through to today, which is now Friday the 10th of November. So have a look on the daily charts; it's closed bullish, it's closed bearish, it's closed bullish, bearish, all the way through. It's basically done this up, down, up, down since last Thursday, changing every day.
How can you trade currencies like that? You just cannot do that. There's just nothing there setting up as a suitable trade example.
Do not limit yourself to just one FX pair
By limiting yourself to just one currency pair, or even just one currency, you're really doing yourself, in my opinion, a big disservice. Go and have a look at around … For me I have about 27, 28 currency pairs that I scan through the charts. On a daily chart, or even on a weekly chart and daily chart, it really doesn't take very long. It's a five, 10 minute job once a day on the daily charts to scan through. You can very easily train your eye to see whether there's anything there at all at the close of the daily chart 5:00 PM New York time. Then similar when you go down to shorter time frames, it's very, very easy to scan through trades to see if there's anything suitable.
Give yourself the best chance of seeing a high quality trade setup
Give yourself the best chance of finding something. Doesn't matter where you live. I live in New Zealand,]]>322falsefullhttps://www.spreaker.com/episode/249-how-i-can-help-solve-your-forex-problems--13252352
How I can Help Solve Your Forex Problems
In this weekly video:
00:22 – 4 Live Forex Webinars
01:04 – Specific trading information
01:14 – Surveyed 35,000 Forex trader
02:22 – My solutions to the top problems
02:52 – Take the survey and register for a webinar – click on the link below
I'm going to talk about how I can help you solve your Forex problems. Listen up, I've got some great news to share.
Hi, Forex traders, Andrew Mitchem here, the Forex Trading Coach video and podcast, number 249.
4 Live Forex Webinars
Got some really exciting news to share with you. I'm going to be holding four live webinars very shortly and on those webinars, I'm going to be doing everything that I can to help you overcome your biggest Forex problems. The webinars are two next week on the 7th and the 10th of November, and then two the following week. They're going to be held at various times around the clock, so it doesn't matter really where you live in the world, I'm sure one of those webinars will suit you to be able to give us an hour of your time and attend one of those webinars.
They are going to be live. They're not going to be filled with lots of fluff and lots of sort of information about what trading is. We're already assuming that you know that.
Specific trading information
It's going to be specific helpful information showing live charts as well during the webinar to help you overcome your biggest Forex problems.
Surveyed 35,000 Forex trader
Now, last week I have surveyed 35,000 Forex traders and I've asked those people and you may be one of those people, now you've probably received my e-mail. What are your biggest Forex problems and to list them.
• The top problems are these, no particular order.
• I don't have a proven trading strategy.
• I don't know what are the best indicators to use.
• I'm not sure which currency pairs are the best to trade.
• I don't have enough time in order to trade.
• I'm confused, I really don't know how to trade Forex.
• I've been trading for a while but it's just not working for me.
• I don't understand money management and position sizing.
• I don't know where to place my stop loss or profit target.
• I don't understand which timeframe charts I should be trading.
• I'm at work when the markets are most active
• News announcements, how should I trade them.
Those are the topics that I've given people the option to say like which are your biggest problems and I'm going to help address those. As mentioned, these are going to be live webinars.
My solutions to the top problems
You're going to have the opportunity to hear my solutions to those problems or some of the top problems during the webinar, and then at the end we'll probably have 15-20 minutes to answer some questions and as mentioned, I'm going to be showing live charts on those sessions and doing my best to explain how you can realistically in a practical and easy to do manner, how you can overcome those top Forex issues.
Take the survey and register for a webinar – click on the link below
Now if you haven't registered for one of those webinars or if you haven't taken the survey yet, all you need to do is simply click on the link below this video and I look forward to helping you overcome your biggest Forex challenges and problems, and I look forward to seeing you on one of those four live webinars either next week or the week after. Have a great weekend. I'll catch you this time next week.
Click here to take the survey and attend a Live Webinar]]>https://theforextradingcoach.com/?p=7459Sun, 05 Nov 2017 21:44:37 +0000Andrew MitchemPodcast: How I can Help Solve Your Forex Problems In this weekly video: 00:22 – 4 Live Forex Webinars 01:04 – Specific trading information 01:14 – Surveyed 35,000 Forex trader 02:22 – My solutions to the top problems 02:52 – Take the survey and...
How I can Help Solve Your Forex Problems
In this weekly video:
00:22 – 4 Live Forex Webinars
01:04 – Specific trading information
01:14 – Surveyed 35,000 Forex trader
02:22 – My solutions to the top problems
02:52 – Take the survey and register for a webinar – click on the link below
I'm going to talk about how I can help you solve your Forex problems. Listen up, I've got some great news to share.
Hi, Forex traders, Andrew Mitchem here, the Forex Trading Coach video and podcast, number 249.
4 Live Forex Webinars
Got some really exciting news to share with you. I'm going to be holding four live webinars very shortly and on those webinars, I'm going to be doing everything that I can to help you overcome your biggest Forex problems. The webinars are two next week on the 7th and the 10th of November, and then two the following week. They're going to be held at various times around the clock, so it doesn't matter really where you live in the world, I'm sure one of those webinars will suit you to be able to give us an hour of your time and attend one of those webinars.
They are going to be live. They're not going to be filled with lots of fluff and lots of sort of information about what trading is. We're already assuming that you know that.
Specific trading information
It's going to be specific helpful information showing live charts as well during the webinar to help you overcome your biggest Forex problems.
Surveyed 35,000 Forex trader
Now, last week I have surveyed 35,000 Forex traders and I've asked those people and you may be one of those people, now you've probably received my e-mail. What are your biggest Forex problems and to list them.
• The top problems are these, no particular order.
• I don't have a proven trading strategy.
• I don't know what are the best indicators to use.
• I'm not sure which currency pairs are the best to trade.
• I don't have enough time in order to trade.
• I'm confused, I really don't know how to trade Forex.
• I've been trading for a while but it's just not working for me.
• I don't understand money management and position sizing.
• I don't know where to place my stop loss or profit target.
• I don't understand which timeframe charts I should be trading.
• I'm at work when the markets are most active
• News announcements, how should I trade them.
Those are the topics that I've given people the option to say like which are your biggest problems and I'm going to help address those. As mentioned, these are going to be live webinars.
My solutions to the top problems
You're going to have the opportunity to hear my solutions to those problems or some of the top problems during the webinar, and then at the end we'll probably have 15-20 minutes to answer some questions and as mentioned, I'm going to be showing live charts on those sessions and doing my best to explain how you can realistically in a practical and easy to do manner, how you can overcome those top Forex issues.
Take the survey and register for a webinar – click on the link below
Now if you haven't registered for one of those webinars or if you haven't taken the survey yet, all you need to do is simply click on the link below this video and I look forward to helping you overcome your biggest Forex challenges and problems, and I look forward to seeing you on one of those four live webinars either next week or the week after. Have a great weekend. I'll catch you this time next week.
Click here to take the survey and attend a Live Webinar]]>215falsefullhttps://www.spreaker.com/episode/248-making-more-money-in-less-time--13156794
Making More Money In Less Time
In this weekly video:
00:32 – What you can do as a trader make more in less time
01:15 – Use Set & Forget and help remove emotions from your trading
02:50 – The great thing about Set and Forget trading
03:23 – The dangers with over-managing a trade
04:05 – I took 3 trades live on my webinar and they made great returns
05:23 – The best way to make more money in less
How to make more money in less time. Are you interested? If you are, listen up.
Hi Forex Traders, Andrew Mitchem here, the owner of the Forex Trading Coach and Video on podcast #248 and I'm gonna talk about how you can make more in less time. Of course everybody's interested in that and that, as traders, is basically what we're aiming for.
What you can do as a trader make more in less time
So there's several things you can do initially that I'll talk about and then I'll talk about the main point.
As an example, you can trade the longer time frame charts, which is predominately what I do myself and what I teach. The other thing you can do is you can look at taking a trade only upon the completion of a candle and again, that's the way that I trade myself. So when a candle closes, that's when I'm looking at taking a trade. What that means is, you need less chart time because you know when a one hour chart candle's gonna close or a four hour or daily chart candle. You know when that's gonna close so those are the times that you need to be at your computer having a look at potential trade set ups.
Use Set & Forget and help remove emotions from your trading
But, the other thing you can do and that's what I want I wanna talk about on this lesson is using something called “Set and Forget”. It's very, very easy to do and it's something that unfortunately a lot of traders do not do. If you want to make more in less time, set and forget is the answer. So let's talk about that.
The way that I like to trade is I like to remove emotions from my trading as much as possible because psychologically, trading does affect you. If you're on a demo, you probably haven't experienced that too much yet but when you go live, it's real money, it's happening now, you're making dollars and cents or pounds or yen, whatever you're trading, but you're making money now in real time. You can get very excited when you make some good profitable trades. You can get very down when you have some losing trades because it hurts. You're losing money. The way to try and eliminate that is use what I call set and forget. You see a trade set up, you know exactly how you're gonna enter the trade, whether it be a retracement order using viral sell limit orders like I do, you can use market orders, stop-orders, whatever it is that you want to do as part of your strategy. I can certainly help you with that but whatever you want as your strategy. You know what type of technical set up you're looking for. You know when you're gonna enter, where you're gonna enter, and where you're stop-loss and profit targets are so therefore you know your position sizing, you know you're total risk. That's all under control.
But the problem is, you still need to allow that trade time to do its thing. The beauty of set and forget is.
The great thing about Set and Forget trading
If you have all those things under control, the set amount of risk and you have a strategy that works, you know that probability suggests that if this trade is a good trade set up then the likelihood of the stop-loss holding and the profit target of being hit up quite high otherwise you wouldn't have taken the trade in the first place. Set and forget. What that means is you put the trade on, you have confidence in your ability, you have confidence in your strategy, and you leave the trade alone. Less time, less emotions,]]>https://theforextradingcoach.com/?p=7442Sun, 29 Oct 2017 22:02:41 +0000Andrew MitchemPodcast: Making More Money In Less Time In this weekly video: 00:32 – What you can do as a trader make more in less time 01:15 – Use Set & Forget and help remove emotions from your trading 02:50 – The great thing about Set and Forget trading...
Making More Money In Less Time
In this weekly video:
00:32 – What you can do as a trader make more in less time
01:15 – Use Set & Forget and help remove emotions from your trading
02:50 – The great thing about Set and Forget trading
03:23 – The dangers with over-managing a trade
04:05 – I took 3 trades live on my webinar and they made great returns
05:23 – The best way to make more money in less
How to make more money in less time. Are you interested? If you are, listen up.
Hi Forex Traders, Andrew Mitchem here, the owner of the Forex Trading Coach and Video on podcast #248 and I'm gonna talk about how you can make more in less time. Of course everybody's interested in that and that, as traders, is basically what we're aiming for.
What you can do as a trader make more in less time
So there's several things you can do initially that I'll talk about and then I'll talk about the main point.
As an example, you can trade the longer time frame charts, which is predominately what I do myself and what I teach. The other thing you can do is you can look at taking a trade only upon the completion of a candle and again, that's the way that I trade myself. So when a candle closes, that's when I'm looking at taking a trade. What that means is, you need less chart time because you know when a one hour chart candle's gonna close or a four hour or daily chart candle. You know when that's gonna close so those are the times that you need to be at your computer having a look at potential trade set ups.
Use Set & Forget and help remove emotions from your trading
But, the other thing you can do and that's what I want I wanna talk about on this lesson is using something called “Set and Forget”. It's very, very easy to do and it's something that unfortunately a lot of traders do not do. If you want to make more in less time, set and forget is the answer. So let's talk about that.
The way that I like to trade is I like to remove emotions from my trading as much as possible because psychologically, trading does affect you. If you're on a demo, you probably haven't experienced that too much yet but when you go live, it's real money, it's happening now, you're making dollars and cents or pounds or yen, whatever you're trading, but you're making money now in real time. You can get very excited when you make some good profitable trades. You can get very down when you have some losing trades because it hurts. You're losing money. The way to try and eliminate that is use what I call set and forget. You see a trade set up, you know exactly how you're gonna enter the trade, whether it be a retracement order using viral sell limit orders like I do, you can use market orders, stop-orders, whatever it is that you want to do as part of your strategy. I can certainly help you with that but whatever you want as your strategy. You know what type of technical set up you're looking for. You know when you're gonna enter, where you're gonna enter, and where you're stop-loss and profit targets are so therefore you know your position sizing, you know you're total risk. That's all under control.
But the problem is, you still need to allow that trade time to do its thing. The beauty of set and forget is.
The great thing about Set and Forget trading
If you have all those things under control, the set amount of risk and you have a strategy that works, you know that probability suggests that if this trade is a good trade set up then the likelihood of the stop-loss holding and the profit target of being hit up quite high otherwise you wouldn't have taken the trade in the first place. Set and forget. What that means is you put the trade on, you have confidence in your ability, you have confidence in your strategy, and you leave the trade alone. Less time, less emotions,]]>366falsefullhttps://www.spreaker.com/episode/247-why-i-am-not-a-news-trader--13101187
Why I Am Not a News Trader
In this weekly video:
00:27 – The charts tell me everything I need to know
01:08 – News trading confuses many traders
01:40 – Real trading examples
03:00 – Daily charts from Wednesday 18th and Thursday 19th October 2017
04:20 – 10 hours after my trades were taken, the news was announced
I'm going to talk about why I'm not a Forex news trader. Let's get into that and more right now.
Hey, traders, Andrew Mitchem here, The Forex Trading Coach at video and podcast number 247. I want to talk a little bit about a controversial topic.
The charts tell me everything I need to know
It's all about why I am not a news trader. I'm a technical trader. The charts tell me everything that I need to know, and I've got some great examples to share with you. But first of all, news trading. Now, in the past I‘ve had some people, some well-known traders and some well-known trading companies, criticize me quite heavily for saying, I'm not a news trader, and I'm a technical trader only. Now, I'm aware of the news, I'm aware of the fundamentals, I'm aware of the news results, but I don't trade specifically the news. And the news announcements, they don't influence my trading. Why? Because charts tell me everything that I need to know.
News trading confuses many traders
And I believe that in many cases, news trading actually confuses people, whereas if you understand charts, you understand the technicals, what the charts are showing you and where the market is moving, that in my opinion is certainly for me and for my clients, is certainly the most profitable way for us to trade, and enjoyable trading method, because we're not set watching the charts all the time, and we don't have to sift through all this information of different fundamental announcements.
Real trading examples
And so I want to give you some examples. So, today is Friday, the 20th of October. Yesterday, the 19th of October, at New Zealand here, we had a new government formed, and it was formed last night my time. But ten hours prior to that announcement, I announced on my membership site, and also freely available on my website, so you can go and have a look at my daily post and daily analysis for Thursday, 19th of October. And you'll see on there that I was looking at selling quite a number of the New Zealand dollar currency pairs. And I specifically said to clients, I'm selling the New Zealand dollar, Canadian dollar, and also we were buying the Euro against the New Zealand dollar. And the reasons have been purely technical. The charts were showing some fantastic trading setups. We had the entry and exit levels, and before that news announcement even came out, before that government formed coalition, partnership between three different political parties came out, we'd already been filled on those trades, and we'd already been taken out of those trades for full profit. Made a fantastic profit on both positions, Euro, New Zealand, and the New Zealand Canadian dollar.
Daily charts from Wednesday 18th and Thursday 19th October 2017
So go and have a look at the charts. Go and look at the setups, the daily charts of what it was showing, at the end of Wednesday, the 18th charts, because of course, that's what we were looking at at the time. The big sell-off on the New Zealand Canadian and the big upward movement on the Euro New Zealand, the Euro New Zealand moved about 420 pips, and the New Zealand Canadian moved at about 190 pips. So we'd actually pick that in advance of that happening, and that's the important thing. You know, it's all well and good to say, "Yes, I know that the New Zealand Labour Party go in, and that's bad news for the New Zealand economy." And of course it is, for me personally as a national supporter, it's really bad news.]]>https://theforextradingcoach.com/?p=7417Sun, 22 Oct 2017 21:54:14 +0000Andrew MitchemPodcast: Why I Am Not a News Trader In this weekly video: 00:27 – The charts tell me everything I need to know 01:08 – News trading confuses many traders 01:40 – Real trading examples 03:00 – Daily charts from Wednesday 18th and Thursday 19th...
Why I Am Not a News Trader
In this weekly video:
00:27 – The charts tell me everything I need to know
01:08 – News trading confuses many traders
01:40 – Real trading examples
03:00 – Daily charts from Wednesday 18th and Thursday 19th October 2017
04:20 – 10 hours after my trades were taken, the news was announced
I'm going to talk about why I'm not a Forex news trader. Let's get into that and more right now.
Hey, traders, Andrew Mitchem here, The Forex Trading Coach at video and podcast number 247. I want to talk a little bit about a controversial topic.
The charts tell me everything I need to know
It's all about why I am not a news trader. I'm a technical trader. The charts tell me everything that I need to know, and I've got some great examples to share with you. But first of all, news trading. Now, in the past I‘ve had some people, some well-known traders and some well-known trading companies, criticize me quite heavily for saying, I'm not a news trader, and I'm a technical trader only. Now, I'm aware of the news, I'm aware of the fundamentals, I'm aware of the news results, but I don't trade specifically the news. And the news announcements, they don't influence my trading. Why? Because charts tell me everything that I need to know.
News trading confuses many traders
And I believe that in many cases, news trading actually confuses people, whereas if you understand charts, you understand the technicals, what the charts are showing you and where the market is moving, that in my opinion is certainly for me and for my clients, is certainly the most profitable way for us to trade, and enjoyable trading method, because we're not set watching the charts all the time, and we don't have to sift through all this information of different fundamental announcements.
Real trading examples
And so I want to give you some examples. So, today is Friday, the 20th of October. Yesterday, the 19th of October, at New Zealand here, we had a new government formed, and it was formed last night my time. But ten hours prior to that announcement, I announced on my membership site, and also freely available on my website, so you can go and have a look at my daily post and daily analysis for Thursday, 19th of October. And you'll see on there that I was looking at selling quite a number of the New Zealand dollar currency pairs. And I specifically said to clients, I'm selling the New Zealand dollar, Canadian dollar, and also we were buying the Euro against the New Zealand dollar. And the reasons have been purely technical. The charts were showing some fantastic trading setups. We had the entry and exit levels, and before that news announcement even came out, before that government formed coalition, partnership between three different political parties came out, we'd already been filled on those trades, and we'd already been taken out of those trades for full profit. Made a fantastic profit on both positions, Euro, New Zealand, and the New Zealand Canadian dollar.
Daily charts from Wednesday 18th and Thursday 19th October 2017
So go and have a look at the charts. Go and look at the setups, the daily charts of what it was showing, at the end of Wednesday, the 18th charts, because of course, that's what we were looking at at the time. The big sell-off on the New Zealand Canadian and the big upward movement on the Euro New Zealand, the Euro New Zealand moved about 420 pips, and the New Zealand Canadian moved at about 190 pips. So we'd actually pick that in advance of that happening, and that's the important thing. You know, it's all well and good to say, "Yes, I know that the New Zealand Labour Party go in, and that's bad news for the New Zealand economy." And of course it is, for me personally as a national supporter, it's really bad news.]]>354falsefullhttps://www.spreaker.com/episode/246-trade-what-you-see-not-what-you-think--13041655
Trade what you see not what you think
In this weekly video:
00:23 – The traders’ problem
00:41 – Trade what you see and not what you think
01:35 – Information overload and confusion
02:21 – The charts tell me where the market is moving – 2 trade examples
02:58 – Trade makes 3.2:1 reward:risk in 5 hours on a live webinar – here are the trade results https://www.screencast.com/t/s2oFlIneC
03:37 – Fundamental news is trading what you think
Do find that once you place a trade, the market goes the other way? If that's you, you need to listen to this.
Hi Forex traders, Andrew Mitchem, The Forex Trading Coach video and podcast number 246.
The traders’ problem
We all seem to have this problem, we place a buy trade, the market goes down. We place a sell trade, the market goes up. If you have problems with your trading, getting on the right side of the market, if you have that issue, you need to listen to what I've got to mention here.
Trade what you see and not what you think
To me, as a Forex trader and someone that's been trading as a technical trader for 14 years, you have to trade what you see and now what you think. It's a really important phrase. Have a think about that, trade what you see on the charts, and not what you think is going to happen. Because the charts tell you what's actually happening right now. Whether I think the Euro or US is gonna go up or down, doesn't really matter. What's happening on the charts? Are we seeing bullish patterns, are we seeing bearish patterns? Are we seeing an uptrend followed by a pullback, and then an opportunity to get along again? Are we seeing the market moving flat? What's the Euro doing against other Euro currencies. As an example, the Euro against the Yen, the Euro against the Pound, against the Aussie, against the Kiwi, against the Canadian, et cetera.
You have to put all this together, but it's about trading what you see on the charts right now, is the important thing.
Information overload and confusion
People get very very confused with information overload. It happens in all forms of lives, but trading is no different. You have confusing and lagging indicators, people, in my opinion, read too much into the news and the fundamentals, and people get confused on different time frame charts with one time frame saying the market's moving up, the other time frame saying the market's moving down. It becomes analysis paralysis problem. What do you do?
A lot of people get complete confusion and they either random guess something, or they freeze, they don't take anything, but in the end you can almost be certain that as soon as you press buy, the market will move down. That's just an issue that so many people have.
The charts tell me where the market is moving – 2 trade examples
For me, the charts tell me what I need to know because that's where the market is moving, that's where the big players are pushing the market right now.
I'll give you some examples. Just last night on my client's live webinar, I took two trades, they were both on the 12 hour charts, which I have the ability to trade on MT4, sort of a clever bit of software that I got. One was a sell trade on the Euro New Zealand dollar, the other was a sell trade on the Euro Australian dollar. The Euro Aussie's still open, behind me here, and it's going really well, it's up at around 1.8 to one trade, or .9% account gain, with half percent risk.
Trade makes 3.2:1 reward:risk in 5 hours on a live webinar – here are the trade results https://www.screencast.com/t/s2oFlIneC
The Euro New Zealand in five hours after I placed the trade had hit the full profit target. It made an amazing 3.2 to one, reward to risk. By trading half of one percent risk per trade,]]>https://theforextradingcoach.com/?p=7402Sun, 15 Oct 2017 21:55:58 +0000Andrew MitchemPodcast: Trade what you see not what you think In this weekly video: 00:23 – The traders’ problem 00:41 – Trade what you see and not what you think 01:35 – Information overload and confusion 02:21 – The charts tell me where the market is moving –...
Trade what you see not what you think
In this weekly video:
00:23 – The traders’ problem
00:41 – Trade what you see and not what you think
01:35 – Information overload and confusion
02:21 – The charts tell me where the market is moving – 2 trade examples
02:58 – Trade makes 3.2:1 reward:risk in 5 hours on a live webinar – here are the trade results https://www.screencast.com/t/s2oFlIneC
03:37 – Fundamental news is trading what you think
Do find that once you place a trade, the market goes the other way? If that's you, you need to listen to this.
Hi Forex traders, Andrew Mitchem, The Forex Trading Coach video and podcast number 246.
The traders’ problem
We all seem to have this problem, we place a buy trade, the market goes down. We place a sell trade, the market goes up. If you have problems with your trading, getting on the right side of the market, if you have that issue, you need to listen to what I've got to mention here.
Trade what you see and not what you think
To me, as a Forex trader and someone that's been trading as a technical trader for 14 years, you have to trade what you see and now what you think. It's a really important phrase. Have a think about that, trade what you see on the charts, and not what you think is going to happen. Because the charts tell you what's actually happening right now. Whether I think the Euro or US is gonna go up or down, doesn't really matter. What's happening on the charts? Are we seeing bullish patterns, are we seeing bearish patterns? Are we seeing an uptrend followed by a pullback, and then an opportunity to get along again? Are we seeing the market moving flat? What's the Euro doing against other Euro currencies. As an example, the Euro against the Yen, the Euro against the Pound, against the Aussie, against the Kiwi, against the Canadian, et cetera.
You have to put all this together, but it's about trading what you see on the charts right now, is the important thing.
Information overload and confusion
People get very very confused with information overload. It happens in all forms of lives, but trading is no different. You have confusing and lagging indicators, people, in my opinion, read too much into the news and the fundamentals, and people get confused on different time frame charts with one time frame saying the market's moving up, the other time frame saying the market's moving down. It becomes analysis paralysis problem. What do you do?
A lot of people get complete confusion and they either random guess something, or they freeze, they don't take anything, but in the end you can almost be certain that as soon as you press buy, the market will move down. That's just an issue that so many people have.
The charts tell me where the market is moving – 2 trade examples
For me, the charts tell me what I need to know because that's where the market is moving, that's where the big players are pushing the market right now.
I'll give you some examples. Just last night on my client's live webinar, I took two trades, they were both on the 12 hour charts, which I have the ability to trade on MT4, sort of a clever bit of software that I got. One was a sell trade on the Euro New Zealand dollar, the other was a sell trade on the Euro Australian dollar. The Euro Aussie's still open, behind me here, and it's going really well, it's up at around 1.8 to one trade, or .9% account gain, with half percent risk.
Trade makes 3.2:1 reward:risk in 5 hours on a live webinar – here are the trade results https://www.screencast.com/t/s2oFlIneC
The Euro New Zealand in five hours after I placed the trade had hit the full profit target. It made an amazing 3.2 to one, reward to risk. By trading half of one percent risk per trade,]]>293falsefullhttps://www.spreaker.com/episode/245-the-importance-of-high-reward-risk--12990360
The Importance of High Reward:Risk
In this weekly video:
00:32 – Understanding high reward:risk trades
00:55 – Letting losing trades to get even bigger
02:00 – Reward:Risk of 3:1 – what does that mean?
02:58 – Is a 90% win rate a good system?
04:00 – Growing your account
05:10 – Further trading help for you
I'm going to explain how understanding the reward to risk ratio of your trades can dramatically change around your trading results. Let's get into that and more right now.
Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach, video and podcast number 245. I‘m gonna talk about a very, very important subject. It's all about understanding how important it is to have correct reward to risk. High reward to risk trades. It is something as simple as this can dramatically change around your trading results.
Understanding High Reward:Risk Trades
If you do not have high reward to risk trades, the probability is you'll be losing money. Let's talk about that.
When you think about the psychology behind trading, why is it that so many traders, when they have losing trades, they're happy to let those losing trades get bigger and from time to time.
Letting losing trades to get even bigger
People will move the losses further away even and allow that stock loss or that trade, that's losing, to become even bigger loss. You flip it round the other way and why is it that so many times, when traders are in a profit, just a small profit, they want to start fiddling with the trade, they want to start closing the trade, partial closing, closing all of it, locking in profits, et cetera. It just doesn't add up.
When you have a trade that's losing, people are happy to let it lose and let the loss get bigger. When it trades the right way and you're picking the market the right direction, everybody wants to click their mouse and close their trades early. When, in reality, you should actually let that trade get to its full profit target because you picked a good trade. It's a very odd, but very common problem. Think of things this way, always understand reward to risk. Most people actually say risk to reward, whereas you notice I'm saying reward to risk.
Reward:Risk of 3:1 – what does that mean?
Let's say for the ease of numbers, that our trades have a three to one reward to risk ration. What does that mean? It means, let's say the trade is risking $100 but it's making three times that if it gets to its profit target. It's making $300. Think of it this way as well, let's say I have two losing trades and one winning trade. I'm still profitable. I have a 33% success rate, which you would say, "Andrew, that's terrible." But think of it this way, I'm losing two trades at $100 so a total of $200 lost but my next trade hits the full profit target for a $300 gain. Net result, I'm $100 up.
Also, if someone says to you, "I have a 90% win rate," it doesn't mean to say they're making money. You see, if you're taking lots of small gains or break even trades, tiny gains.
Is a 90% win rate a good system?
We have one or two big losses, then those losses completely outdo all those small gains you've got. The win rate really is not that important. What is important is having high reward to risk trades.
For me, as a trader who prefers the higher timeframe charts, the higher timeframe charts and I mean something like over a one hour chart, four hour chart. If you've got non-standard MT4 charts like I can when I'm trading six, eight and 12 hourly charts, or daily charts or weekly charts or monthly charts, generally the higher the timeframe the trade that you're taking, generally the higher reward to risk of that trade can be. Spread becomes less of an issue and various other things that you generally get somewhere between a tw...]]>https://theforextradingcoach.com/?p=7389Sun, 08 Oct 2017 21:57:44 +0000Andrew MitchemPodcast: The Importance of High Reward:Risk In this weekly video: 00:32 – Understanding high reward:risk trades 00:55 – Letting losing trades to get even bigger 02:00 – Reward:Risk of 3:1 – what does that mean? 02:58 – Is a 90% win rate a good...
The Importance of High Reward:Risk
In this weekly video:
00:32 – Understanding high reward:risk trades
00:55 – Letting losing trades to get even bigger
02:00 – Reward:Risk of 3:1 – what does that mean?
02:58 – Is a 90% win rate a good system?
04:00 – Growing your account
05:10 – Further trading help for you
I'm going to explain how understanding the reward to risk ratio of your trades can dramatically change around your trading results. Let's get into that and more right now.
Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach, video and podcast number 245. I‘m gonna talk about a very, very important subject. It's all about understanding how important it is to have correct reward to risk. High reward to risk trades. It is something as simple as this can dramatically change around your trading results.
Understanding High Reward:Risk Trades
If you do not have high reward to risk trades, the probability is you'll be losing money. Let's talk about that.
When you think about the psychology behind trading, why is it that so many traders, when they have losing trades, they're happy to let those losing trades get bigger and from time to time.
Letting losing trades to get even bigger
People will move the losses further away even and allow that stock loss or that trade, that's losing, to become even bigger loss. You flip it round the other way and why is it that so many times, when traders are in a profit, just a small profit, they want to start fiddling with the trade, they want to start closing the trade, partial closing, closing all of it, locking in profits, et cetera. It just doesn't add up.
When you have a trade that's losing, people are happy to let it lose and let the loss get bigger. When it trades the right way and you're picking the market the right direction, everybody wants to click their mouse and close their trades early. When, in reality, you should actually let that trade get to its full profit target because you picked a good trade. It's a very odd, but very common problem. Think of things this way, always understand reward to risk. Most people actually say risk to reward, whereas you notice I'm saying reward to risk.
Reward:Risk of 3:1 – what does that mean?
Let's say for the ease of numbers, that our trades have a three to one reward to risk ration. What does that mean? It means, let's say the trade is risking $100 but it's making three times that if it gets to its profit target. It's making $300. Think of it this way as well, let's say I have two losing trades and one winning trade. I'm still profitable. I have a 33% success rate, which you would say, "Andrew, that's terrible." But think of it this way, I'm losing two trades at $100 so a total of $200 lost but my next trade hits the full profit target for a $300 gain. Net result, I'm $100 up.
Also, if someone says to you, "I have a 90% win rate," it doesn't mean to say they're making money. You see, if you're taking lots of small gains or break even trades, tiny gains.
Is a 90% win rate a good system?
We have one or two big losses, then those losses completely outdo all those small gains you've got. The win rate really is not that important. What is important is having high reward to risk trades.
For me, as a trader who prefers the higher timeframe charts, the higher timeframe charts and I mean something like over a one hour chart, four hour chart. If you've got non-standard MT4 charts like I can when I'm trading six, eight and 12 hourly charts, or daily charts or weekly charts or monthly charts, generally the higher the timeframe the trade that you're taking, generally the higher reward to risk of that trade can be. Spread becomes less of an issue and various other things that you generally get somewhere between a tw...]]>347falsefullhttps://www.spreaker.com/episode/244-how-to-become-a-good-trader-quicker--12932744
How to become a good trader quicker
In this weekly video:
00:24 – How I can help you shortcut the learning process
00:44 – Brand new to trading Forex?
01:13 – Frustrated with Forex and it’s not working for you?
01:38 – Why my course will help you learn quicker
02:32 – A live 2 hour weekly webinar – watch me trade
03:28 – Watching and learning from a trader in real time is invaluable
04:03 – How much is that worth to you?
05:00 – Get on board with us and shortcut your learning process
How can you shortcut the learning process to becoming a good Forex trader? Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, the Forex Trading Coach Video and Podcast #244.
How I can help you shortcut the learning process
I want to talk about how I can help you to shortcut the inevitable otherwise long process of learning how to become a good Forex trader.
I get traders join my coaching course for a variety of reasons. I'll give you the two ends of the spectrum.
Brand new to trading Forex?
I get clients who are brand new to trading. People who have not really had any experience in trading, but they want to learn the right way first time. They value their investment in themselves, they value knowledge, they value education, and really they want to learn the right way first time without wasting all these hours and all this money by going through the process that the vast majority of people take. That's one end.
Frustrated with Forex and it’s not working for you?
The other side of the spectrum would be the frustrated people, people who join the course out of sheer frustration. They've been trading for a long time, bleeding money, pulling their hair out, and it's going nowhere for them. They're about to give up in trading, and nothing works. So you get those two ends of the scale, and everybody else in between.
Why my course will help you learn quicker
Let me give you some tips of why I believe my course will shortcut the learning process for you. Each day … This is real trading things, because on top of the strategy I'm talking here, you get the overall strategy, and you have to have a strategy that works across time frames, any time frame. Doesn't matter where you live in the world, it doesn't matter what currency pay you trade, et cetera. We have that. On top of that, each day of the trading week I post specific trades in advance of the market moving so you can look at your chart, using the software that I've got behind me here which you'll have a copy of as a client, and see what I'm taking on the daily charts and why. In advance of the market moving. If the trade is profitable, fantastic. If it's not, it's not. But it's about the process of learning to train your eye to see what we're seeing and why.
A live 2 hour weekly webinar – watch me trade
On top of that, each week we have a live 2 hour webinar that you can attend. It's basically a recording on one of my screens behind me here, and I'm trading on live accounts and you can see me trading, talking for two hours about what I‘m looking for at that time and why. To give you an example, I received an email just this morning from a client called Alf. Alf's been with me just over one week. I'll read you his email, it's a quick email, "Andrew. Thank you for the webinar last night. I did not participate, but I sat in the background taking it all in. It soon became apparent to me as to why I am losing trades and money. I'm taking too many risks. It became apparent to me that everything had to line up before you would take a trade. It was a bit of an eye-opener for me, but I've taken it on board. Thank you once again, Alf." That just came through to my email this morning.]]>https://theforextradingcoach.com/?p=7372Sun, 01 Oct 2017 21:59:08 +0000Andrew MitchemPodcast: How to become a good trader quicker In this weekly video: 00:24 – How I can help you shortcut the learning process 00:44 – Brand new to trading Forex? 01:13 – Frustrated with Forex and it’s not working for you? 01:38 – Why my course will...
How to become a good trader quicker
In this weekly video:
00:24 – How I can help you shortcut the learning process
00:44 – Brand new to trading Forex?
01:13 – Frustrated with Forex and it’s not working for you?
01:38 – Why my course will help you learn quicker
02:32 – A live 2 hour weekly webinar – watch me trade
03:28 – Watching and learning from a trader in real time is invaluable
04:03 – How much is that worth to you?
05:00 – Get on board with us and shortcut your learning process
How can you shortcut the learning process to becoming a good Forex trader? Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, the Forex Trading Coach Video and Podcast #244.
How I can help you shortcut the learning process
I want to talk about how I can help you to shortcut the inevitable otherwise long process of learning how to become a good Forex trader.
I get traders join my coaching course for a variety of reasons. I'll give you the two ends of the spectrum.
Brand new to trading Forex?
I get clients who are brand new to trading. People who have not really had any experience in trading, but they want to learn the right way first time. They value their investment in themselves, they value knowledge, they value education, and really they want to learn the right way first time without wasting all these hours and all this money by going through the process that the vast majority of people take. That's one end.
Frustrated with Forex and it’s not working for you?
The other side of the spectrum would be the frustrated people, people who join the course out of sheer frustration. They've been trading for a long time, bleeding money, pulling their hair out, and it's going nowhere for them. They're about to give up in trading, and nothing works. So you get those two ends of the scale, and everybody else in between.
Why my course will help you learn quicker
Let me give you some tips of why I believe my course will shortcut the learning process for you. Each day … This is real trading things, because on top of the strategy I'm talking here, you get the overall strategy, and you have to have a strategy that works across time frames, any time frame. Doesn't matter where you live in the world, it doesn't matter what currency pay you trade, et cetera. We have that. On top of that, each day of the trading week I post specific trades in advance of the market moving so you can look at your chart, using the software that I've got behind me here which you'll have a copy of as a client, and see what I'm taking on the daily charts and why. In advance of the market moving. If the trade is profitable, fantastic. If it's not, it's not. But it's about the process of learning to train your eye to see what we're seeing and why.
A live 2 hour weekly webinar – watch me trade
On top of that, each week we have a live 2 hour webinar that you can attend. It's basically a recording on one of my screens behind me here, and I'm trading on live accounts and you can see me trading, talking for two hours about what I‘m looking for at that time and why. To give you an example, I received an email just this morning from a client called Alf. Alf's been with me just over one week. I'll read you his email, it's a quick email, "Andrew. Thank you for the webinar last night. I did not participate, but I sat in the background taking it all in. It soon became apparent to me as to why I am losing trades and money. I'm taking too many risks. It became apparent to me that everything had to line up before you would take a trade. It was a bit of an eye-opener for me, but I've taken it on board. Thank you once again, Alf." That just came through to my email this morning.]]>355falsefullhttps://www.spreaker.com/episode/243-waiting-for-an-a-grade-trade-setup--12877664
Waiting for an “A” Grade Trade Setup
In this weekly video:
00:27 – Wait for the A Grade trades
00:44 – Too many trades over trade
01:21 – Be patient and wait
02:04 – There are no prizes for trading more
03:29 – Have probability on your side as a trader
03:52 – Freely available helpful trading information on my site
Why should you wait for an A grade trade setup? Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 243.
Wait for the A Grade trades
I want to talk about a subject that will almost certainly affect you and it's about overtrading, and it's about why you as a Forex trader should wait for an A grade trade setup. Whatever your rules, whatever your strategy, whatever your criteria, it's really important that you wait for that A grade setup. Why? Well, I just see so many traders who overtrade.
Too many trades over trade
They feel that they have to be in the market all the time. They're constantly watching their charts. They're looking for new trade setups. They're always feeling that itch, that mouse click, that computer keyboard button itch to take a trade.
A lot of people feel that if they call themselves a trader whether it'd be just a part-time hobby trader or more than that, they feel they have to be in a trade, have to be in the market otherwise they're not doing anything. Unfortunately, it's not good for your long-term longevity and your long-term health as a Forex trader.
Be patient and wait
You see, it is really important that you are disciplined and that you're patient and you wait because if you don't, all you're doing is overtrading. You're getting more and more stressed. Trades are likely going wrong. Your win rate is going to be low. You're going to get angry at the market. You're lacking that discipline, that self-control and then you start blaming other people. Things go wrong. You're losing more money than you're making. You then look for another strategy, another robot, another magic pill and the cycle just keeps going round and round and round. I'm sure you understand what I mean.
In order to do that, it is really important that you are disciplined and you do wait for your A grade setup because I have a phrase that I say to my clients.
There are no prizes for trading more
There are no prizes for trading more. What that basically means is just because you take more trades does not mean to say you're going to make more money. In fact, it's generally the complete opposite. The only thing that certainty about taking more trades is all you're going to do is take more money out of your account and put into your broker's account. Really, we don't want that, do we? After all, as traders, we're more interested in what's in our account than we're feeding to the broker all the time in entry fees and in spread fees, all that type of thing. It's not good. You do not have to be watching your charts all the time. You do not have to be feeling like you're taking trades all the time because long-term that's not good for you. You have to have your trading that's enjoyable and it has to be realistic to accomplish.
Sitting, watching your charts 24 hours a day, seven days or five days a week is not realistic. Sitting, watching your charts 8, 10 hours a day is not realistic. It's not enjoyable that's for sure. You certainly can't travel. You certainly can't do that over and over again. Almost certainly, you'll burn yourself out. You just have to stop or you just lose your account and you'll be forced to stop or you'll blame the market. You'll say that Forex doesn't work. It's a scam. It's a gamble. The broker is against me, all these things that people will for whatever reason say and that will be your conclusion.]]>https://theforextradingcoach.com/?p=7354Sun, 24 Sep 2017 21:54:10 +0000Andrew MitchemPodcast: Waiting for an “A” Grade Trade Setup In this weekly video: 00:27 – Wait for the A Grade trades 00:44 – Too many trades over trade 01:21 – Be patient and wait 02:04 – There are no prizes for trading more 03:29 – Have probability on your side...
Waiting for an “A” Grade Trade Setup
In this weekly video:
00:27 – Wait for the A Grade trades
00:44 – Too many trades over trade
01:21 – Be patient and wait
02:04 – There are no prizes for trading more
03:29 – Have probability on your side as a trader
03:52 – Freely available helpful trading information on my site
Why should you wait for an A grade trade setup? Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 243.
Wait for the A Grade trades
I want to talk about a subject that will almost certainly affect you and it's about overtrading, and it's about why you as a Forex trader should wait for an A grade trade setup. Whatever your rules, whatever your strategy, whatever your criteria, it's really important that you wait for that A grade setup. Why? Well, I just see so many traders who overtrade.
Too many trades over trade
They feel that they have to be in the market all the time. They're constantly watching their charts. They're looking for new trade setups. They're always feeling that itch, that mouse click, that computer keyboard button itch to take a trade.
A lot of people feel that if they call themselves a trader whether it'd be just a part-time hobby trader or more than that, they feel they have to be in a trade, have to be in the market otherwise they're not doing anything. Unfortunately, it's not good for your long-term longevity and your long-term health as a Forex trader.
Be patient and wait
You see, it is really important that you are disciplined and that you're patient and you wait because if you don't, all you're doing is overtrading. You're getting more and more stressed. Trades are likely going wrong. Your win rate is going to be low. You're going to get angry at the market. You're lacking that discipline, that self-control and then you start blaming other people. Things go wrong. You're losing more money than you're making. You then look for another strategy, another robot, another magic pill and the cycle just keeps going round and round and round. I'm sure you understand what I mean.
In order to do that, it is really important that you are disciplined and you do wait for your A grade setup because I have a phrase that I say to my clients.
There are no prizes for trading more
There are no prizes for trading more. What that basically means is just because you take more trades does not mean to say you're going to make more money. In fact, it's generally the complete opposite. The only thing that certainty about taking more trades is all you're going to do is take more money out of your account and put into your broker's account. Really, we don't want that, do we? After all, as traders, we're more interested in what's in our account than we're feeding to the broker all the time in entry fees and in spread fees, all that type of thing. It's not good. You do not have to be watching your charts all the time. You do not have to be feeling like you're taking trades all the time because long-term that's not good for you. You have to have your trading that's enjoyable and it has to be realistic to accomplish.
Sitting, watching your charts 24 hours a day, seven days or five days a week is not realistic. Sitting, watching your charts 8, 10 hours a day is not realistic. It's not enjoyable that's for sure. You certainly can't travel. You certainly can't do that over and over again. Almost certainly, you'll burn yourself out. You just have to stop or you just lose your account and you'll be forced to stop or you'll blame the market. You'll say that Forex doesn't work. It's a scam. It's a gamble. The broker is against me, all these things that people will for whatever reason say and that will be your conclusion.]]>293falsefullhttps://www.spreaker.com/episode/242-learning-to-trade-through-trial-and-error--12824933
Learning To Trade Through Trial and Error
In this weekly video:
00:30 – Why do people learn through trial and error?
01:30 – It seems and easy and low cost way learning
01:45 – The best way to learn how to trade
02:20 – Feedback from 2 clients – amazing trading results
03:23 – Those who invest in themselves have a high chance of being successful
04:50 – Contact me if you’d like more information
Are you learning to trade the Forex market through trial and error? If that's you, listen up; I've got some interesting news for you.
Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach Video and Podcast Number 242. I want to talk about a subject that affects the vast majority of Forex traders.
Why do people learn through trial and error?
It's all about why do people learn through trial and error? Because to me, it's undoubtedly one of the best ways of losing money. Absolutely no question about it. We've all done, I've done it. I know exactly where you are and what your thought process is if you are going through various websites, forums, buying robots, buying trading systems, buying all sorts of different things, indicators et cetera. If you're constantly buying new things looking for that answer, you're constantly search for the next shiny object, the holy grail of trading.
If that's you right now, you are without doubt doing your best to waste your money and your time, and to get massive, massive frustration and likelihood you're not going to get to the result that you want. Why do people do it?
It seems and easy and low cost way learning
Well, I suppose people see it as it's easy, or it's a low-cost way of learning how to trade. What I can assure you is that the likelihood of you losing money, and quite a lot of money, is very very high.
The best way to learn how to trade
The flip side of that, the surest way of trying to become a profitable trader and to understand what's happening in the market to make money, is to seek a mentor. If you look at that cost of investing in a course or seeking a mentor as an investment in yourself to save you time in the long run, and to save you lots of money, and to make you money and to save all that frustration and headaches and heartache and likelihood of giving up. If you're trying to save all of that, then invest some time and some money into a good course. Because it really will help you.
Feedback from 2 clients – amazing trading results
I'd like to share with you two emails that I've received; one this morning and one yesterday. The one that I received this morning is from Branin, who lives in America. Branin said, "I wanted to let you know I'm now up 15% since I purchased your course." Branin only started about a month ago, so 15% up already. The other email which was from John, who now lives in Katar. I think John's originally from Australia. He said that his results since he joined me, and he joined me in 2014, "live trading results in 2015 I made 31.6% return. 2016 I made 22.3% return. So far 2017 up until September," and it's now the 15th of September today, "35.9% this year. It's been a really good one for me so far." 31, 22, and almost 36%. Live trade results there.
Those who invest in themselves have a high chance of being successful
When you get feedback like that, it's really really good to see because what it's doing is it's showing that people who do invest … Yes some upfront money, yes they're investing some cash into a course, yes they're investing their time, but it really does work. There's no better way of learning a proven strategy from a mentor who's trading all the time. Just yesterday I had a live webinar for my clients. We were taking trades on there, there were people typing in trades that they've taken themselves.]]>https://theforextradingcoach.com/?p=7339Sun, 17 Sep 2017 22:05:31 +0000Andrew MitchemPodcast: Learning To Trade Through Trial and Error In this weekly video: 00:30 – Why do people learn through trial and error? 01:30 – It seems and easy and low cost way learning 01:45 – The best way to learn how to trade 02:20 – Feedback from 2...
Learning To Trade Through Trial and Error
In this weekly video:
00:30 – Why do people learn through trial and error?
01:30 – It seems and easy and low cost way learning
01:45 – The best way to learn how to trade
02:20 – Feedback from 2 clients – amazing trading results
03:23 – Those who invest in themselves have a high chance of being successful
04:50 – Contact me if you’d like more information
Are you learning to trade the Forex market through trial and error? If that's you, listen up; I've got some interesting news for you.
Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach Video and Podcast Number 242. I want to talk about a subject that affects the vast majority of Forex traders.
Why do people learn through trial and error?
It's all about why do people learn through trial and error? Because to me, it's undoubtedly one of the best ways of losing money. Absolutely no question about it. We've all done, I've done it. I know exactly where you are and what your thought process is if you are going through various websites, forums, buying robots, buying trading systems, buying all sorts of different things, indicators et cetera. If you're constantly buying new things looking for that answer, you're constantly search for the next shiny object, the holy grail of trading.
If that's you right now, you are without doubt doing your best to waste your money and your time, and to get massive, massive frustration and likelihood you're not going to get to the result that you want. Why do people do it?
It seems and easy and low cost way learning
Well, I suppose people see it as it's easy, or it's a low-cost way of learning how to trade. What I can assure you is that the likelihood of you losing money, and quite a lot of money, is very very high.
The best way to learn how to trade
The flip side of that, the surest way of trying to become a profitable trader and to understand what's happening in the market to make money, is to seek a mentor. If you look at that cost of investing in a course or seeking a mentor as an investment in yourself to save you time in the long run, and to save you lots of money, and to make you money and to save all that frustration and headaches and heartache and likelihood of giving up. If you're trying to save all of that, then invest some time and some money into a good course. Because it really will help you.
Feedback from 2 clients – amazing trading results
I'd like to share with you two emails that I've received; one this morning and one yesterday. The one that I received this morning is from Branin, who lives in America. Branin said, "I wanted to let you know I'm now up 15% since I purchased your course." Branin only started about a month ago, so 15% up already. The other email which was from John, who now lives in Katar. I think John's originally from Australia. He said that his results since he joined me, and he joined me in 2014, "live trading results in 2015 I made 31.6% return. 2016 I made 22.3% return. So far 2017 up until September," and it's now the 15th of September today, "35.9% this year. It's been a really good one for me so far." 31, 22, and almost 36%. Live trade results there.
Those who invest in themselves have a high chance of being successful
When you get feedback like that, it's really really good to see because what it's doing is it's showing that people who do invest … Yes some upfront money, yes they're investing some cash into a course, yes they're investing their time, but it really does work. There's no better way of learning a proven strategy from a mentor who's trading all the time. Just yesterday I had a live webinar for my clients. We were taking trades on there, there were people typing in trades that they've taken themselves.]]>335falsefullhttps://www.spreaker.com/episode/241-how-much-do-you-want-to-be-a-good-trader--12769048
How Much Do You Want To Be A Good Trader?
In this weekly video:
00:22 – Are you committed to learn how to trade
00:50 – The instant fix and next shiny object
01:35 – You can research for years
02:00 – Freely available software, webinars and information
02:55 – Getting a coach to progress quickly
04:20 – Invest in a good instructor
04:39 – A new review on Forex Peace Army
05:43 – We all have the same amount of time
How much do you really want to be a good Forex Trader? Let's talk about that and more right now.
Hey traders, it's Andrew Mitchem here. The Forex Trading Coach video and podcast number 241.
Are you committed to learn how to trade
Today I want to talk about your commitment; how much do you really, really want it. I mean really want it. You see, I get asked all the time from people, "I want to become a good trader, Andrew. I'm going to join your course. I'm going to become one of your best students. I'm going to do this full time." All these sort of promises that come all the time. I hear it all the time.
The instant fix and next shiny object
The problem is today, the world that we live in, everything is so accessible. You want a song, you download it. You want a movie, you search for it and you download it. Everything is instant. Everybody's very quick to move on to the next shiny object, the next thing that's going to be instant. No one is willing to put a bit of time and commitment and effort into something that's really good.
My question is how much do you really, really and I mean really want to become a good Forex trader? That's something that you really need to question yourself about seriously if you wish to continue in this market.
You can research for years
You can spend years and years and years doing all this research online following forums and different threads and different ideas and things like that and going alone. You can do that. But you have to think of what's your time worth if you like doing that? Because the likelihood is you're not going to get very far very quickly. Then you get the other side of the people like I mentioned at the beginning, people that come to me and say,
Freely available software, webinars and information
"Hey Andrew I'm going to do this and I'm going to commit and I'm going to be fantastic and I'm going to do everything that you say."
I offer on my site, freely available to people, I offer advice if people email me. I offer free trading software, free calculators, free webinars. Even a free mini course. It's amazing when I go back and look at the number of people that join those, and I go and say to them a few weeks later or a month or so later, "Hey how's it going? Do you need anymore help?" And people go, "I'm not trading anymore," or "I've moved on to someone else's ideas," or "I've got some other software or other robots," and things like that. Then it becomes, how much do you really want it? I'm giving you all this information here, and it's great valuable information. It comes down to your commitment.
Getting a coach to progress quickly
I'll give you an example. This year, I've taken up squash. I started around the end of January and we're now early September. I'm now committed to playing squash; I'm playing about three times a week. I've bought the equipment, a nice racket, good shoes. I've got myself fitter. It's helping with my fitness. I've joined a club, I've got the full membership, I've got practice membership. We're playing different competitions. Things like that. I'm also getting some coaching. Why? Because I've reached a level like after the first few months, and I thought to myself if I want to do this properly and enjoy it and get better and better,]]>https://theforextradingcoach.com/?p=7326Sun, 10 Sep 2017 22:00:34 +0000Andrew MitchemPodcast: How Much Do You Want To Be A Good Trader? In this weekly video: 00:22 – Are you committed to learn how to trade 00:50 – The instant fix and next shiny object 01:35 – You can research for years 02:00 – Freely available software, webinars and...
How Much Do You Want To Be A Good Trader?
In this weekly video:
00:22 – Are you committed to learn how to trade
00:50 – The instant fix and next shiny object
01:35 – You can research for years
02:00 – Freely available software, webinars and information
02:55 – Getting a coach to progress quickly
04:20 – Invest in a good instructor
04:39 – A new review on Forex Peace Army
05:43 – We all have the same amount of time
How much do you really want to be a good Forex Trader? Let's talk about that and more right now.
Hey traders, it's Andrew Mitchem here. The Forex Trading Coach video and podcast number 241.
Are you committed to learn how to trade
Today I want to talk about your commitment; how much do you really, really want it. I mean really want it. You see, I get asked all the time from people, "I want to become a good trader, Andrew. I'm going to join your course. I'm going to become one of your best students. I'm going to do this full time." All these sort of promises that come all the time. I hear it all the time.
The instant fix and next shiny object
The problem is today, the world that we live in, everything is so accessible. You want a song, you download it. You want a movie, you search for it and you download it. Everything is instant. Everybody's very quick to move on to the next shiny object, the next thing that's going to be instant. No one is willing to put a bit of time and commitment and effort into something that's really good.
My question is how much do you really, really and I mean really want to become a good Forex trader? That's something that you really need to question yourself about seriously if you wish to continue in this market.
You can research for years
You can spend years and years and years doing all this research online following forums and different threads and different ideas and things like that and going alone. You can do that. But you have to think of what's your time worth if you like doing that? Because the likelihood is you're not going to get very far very quickly. Then you get the other side of the people like I mentioned at the beginning, people that come to me and say,
Freely available software, webinars and information
"Hey Andrew I'm going to do this and I'm going to commit and I'm going to be fantastic and I'm going to do everything that you say."
I offer on my site, freely available to people, I offer advice if people email me. I offer free trading software, free calculators, free webinars. Even a free mini course. It's amazing when I go back and look at the number of people that join those, and I go and say to them a few weeks later or a month or so later, "Hey how's it going? Do you need anymore help?" And people go, "I'm not trading anymore," or "I've moved on to someone else's ideas," or "I've got some other software or other robots," and things like that. Then it becomes, how much do you really want it? I'm giving you all this information here, and it's great valuable information. It comes down to your commitment.
Getting a coach to progress quickly
I'll give you an example. This year, I've taken up squash. I started around the end of January and we're now early September. I'm now committed to playing squash; I'm playing about three times a week. I've bought the equipment, a nice racket, good shoes. I've got myself fitter. It's helping with my fitness. I've joined a club, I've got the full membership, I've got practice membership. We're playing different competitions. Things like that. I'm also getting some coaching. Why? Because I've reached a level like after the first few months, and I thought to myself if I want to do this properly and enjoy it and get better and better,]]>413falsefullhttps://www.spreaker.com/episode/240-how-bollinger-bands-help-me-trade--12719379
How Bollinger Bands Help Me Trade
In this weekly video:
00:28 – Selecting profit targets
01:20 – I use Bollinger bands to help me trade
02:04 – Trade when the conditions are favourable
02:40 – Trading reversal patterns
03:54 – Trading Continuation trades
04:29 – Teaching the whole package
04:55 – Sell trade on the EUR/CAD off the middle Bollinger band
05:50 – Look for the Bollinger bands to be widening
We need to give the trade room to move. Let's talk about that and more right now.
Hi Forex Traders, it's Andrew Mitchem here with The Forex Trading Coach. Video and Podcast number 240. I want to talk about giving the trade room to move. What does that mean?
Selecting profit targets
Well, a lot of people are very quick to say, "I'm going to place a trade here and I've got my stop-loss here." But a lot of people have difficulty with profit targets. What I like to see is I like to see the ability on the chart as a technical trader for the trade to get to its profit target with the least amount of support or resistance in the way of the trade depending on whether we're buying or selling. If we're buying, we want to see as few resistance levels like reasons why the trade's not going to hit a level and bounce. Why it will get to its profit target. If we're selling, we want to see as few support levels, like as few areas below where the price is right now where it might bounce. We want to see as few of those as possible. We want to give the trade room to move and allow it to get down to our profit target if we're selling with as few support areas in the way as possible.
I use Bollinger bands to help me trade
To do that, I like to use support and resistance levels but I also use Bollinger Bands. I'm going to talk about Bollinger Bands and how I use them. Bollinger Bands are quite fascinating if you can use them in the right way. They really do aid your trading. As a technical trader, I look at Bollinger Bands and I'm looking at how they're moving with the current price. If they're level, or they're flat, or they're coming together the upper or lower Bollinger Band, that tells me that there's very little price action, or there has been good price action and now it's over because the bands are getting tighter together or they're parallel. When that happens, trading conditions are not good right now. It's not a great time to be trading.
Trade when the conditions are favourable
What you need to do is to be able to trade when the price starts to move; when you get decent, active conditions in the market at the current time and the Bollinger Bands start to widen. What that means is that there is good price action right now. To give you a few examples of how I trade.
As you know, I like either reversal trades or continuation patterns, two quite different patterns. Continuation patterns are probably safer, reversal patterns look really good and really dramatic on your charts but a little bit high risk.
Trading reversal patterns
If I see a reversal pattern, and I'm seeing a bearish reversal pattern, I like to see that at or near the upper Bollinger Band. If I'm seeing a bullish reversal pattern, I like to see that at or near the bottom Bollinger Band. Then what I'm looking at doing is I'm looking … Let's say we're taking a buy trade. We're near the bottom Bollinger Band, I'm seeing a good pattern to go long, a reversal of the previous downtrend. What I'm looking at doing is I'm looking for my profit target to ideally be before we need to break through the middle Bollinger Band. The reason for that is the middle Bollinger Band is also the 20 period moving average, and a lot of people rightly or wrongly use moving averages as support and resistance levels. Because the 20 period moving average is the middle Bollinger Band,...]]>https://theforextradingcoach.com/?p=7310Sun, 03 Sep 2017 22:06:20 +0000Andrew MitchemPodcast: How Bollinger Bands Help Me Trade In this weekly video: 00:28 – Selecting profit targets 01:20 – I use Bollinger bands to help me trade 02:04 – Trade when the conditions are favourable 02:40 – Trading reversal patterns 03:54 – Trading...
How Bollinger Bands Help Me Trade
In this weekly video:
00:28 – Selecting profit targets
01:20 – I use Bollinger bands to help me trade
02:04 – Trade when the conditions are favourable
02:40 – Trading reversal patterns
03:54 – Trading Continuation trades
04:29 – Teaching the whole package
04:55 – Sell trade on the EUR/CAD off the middle Bollinger band
05:50 – Look for the Bollinger bands to be widening
We need to give the trade room to move. Let's talk about that and more right now.
Hi Forex Traders, it's Andrew Mitchem here with The Forex Trading Coach. Video and Podcast number 240. I want to talk about giving the trade room to move. What does that mean?
Selecting profit targets
Well, a lot of people are very quick to say, "I'm going to place a trade here and I've got my stop-loss here." But a lot of people have difficulty with profit targets. What I like to see is I like to see the ability on the chart as a technical trader for the trade to get to its profit target with the least amount of support or resistance in the way of the trade depending on whether we're buying or selling. If we're buying, we want to see as few resistance levels like reasons why the trade's not going to hit a level and bounce. Why it will get to its profit target. If we're selling, we want to see as few support levels, like as few areas below where the price is right now where it might bounce. We want to see as few of those as possible. We want to give the trade room to move and allow it to get down to our profit target if we're selling with as few support areas in the way as possible.
I use Bollinger bands to help me trade
To do that, I like to use support and resistance levels but I also use Bollinger Bands. I'm going to talk about Bollinger Bands and how I use them. Bollinger Bands are quite fascinating if you can use them in the right way. They really do aid your trading. As a technical trader, I look at Bollinger Bands and I'm looking at how they're moving with the current price. If they're level, or they're flat, or they're coming together the upper or lower Bollinger Band, that tells me that there's very little price action, or there has been good price action and now it's over because the bands are getting tighter together or they're parallel. When that happens, trading conditions are not good right now. It's not a great time to be trading.
Trade when the conditions are favourable
What you need to do is to be able to trade when the price starts to move; when you get decent, active conditions in the market at the current time and the Bollinger Bands start to widen. What that means is that there is good price action right now. To give you a few examples of how I trade.
As you know, I like either reversal trades or continuation patterns, two quite different patterns. Continuation patterns are probably safer, reversal patterns look really good and really dramatic on your charts but a little bit high risk.
Trading reversal patterns
If I see a reversal pattern, and I'm seeing a bearish reversal pattern, I like to see that at or near the upper Bollinger Band. If I'm seeing a bullish reversal pattern, I like to see that at or near the bottom Bollinger Band. Then what I'm looking at doing is I'm looking … Let's say we're taking a buy trade. We're near the bottom Bollinger Band, I'm seeing a good pattern to go long, a reversal of the previous downtrend. What I'm looking at doing is I'm looking for my profit target to ideally be before we need to break through the middle Bollinger Band. The reason for that is the middle Bollinger Band is also the 20 period moving average, and a lot of people rightly or wrongly use moving averages as support and resistance levels. Because the 20 period moving average is the middle Bollinger Band,...]]>409falsefullhttps://www.spreaker.com/episode/239-is-trading-forex-the-same-as-gambling--12665561
Is Trading Forex The Same As Gambling
In this weekly video:
00:21 – Forex trading and gambling
00:53 – The blame game – it’s very easy to do
01:59 – Trading is definitely not gambling
02:45 – You must understand risk and probability in order to trade well
05:04 – I’ve been trading for 14 years but it takes time
05:50 – Trading FX is one of the best things you can do
Is trading Forex gambling? Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach, video and podcast number 239.
Forex trading and gambling
I want to talk about Forex trading and gambling. Are they the same thing? Well, I certainly don't think they are, but I've had a comment today. It's been on YouTube. A guy said, "Andrew, what you're doing is you're gambling. Trading's not real. It's a terrible thing to do. You're just a gambler."
Well, a number of answers to that really. Thousands of people, hundreds of thousands of people around the world make their living from trading Forex, but there's more to it than just that.
The blame game – it’s very easy to do
You see, the problem is today, it's very easy to blame other people. Social media means that people can moan and groan and vent their anger and frustration very, very easily. You generally find that the people that are doing well and busy in life, and entrepreneurs, et cetera, they don't bother with this whinging and moaning and typing stuff everywhere, because they're too busy enjoying life and doing things and making money, and spending time with their family to worry about doing all this criticism stuff.
As a trader, it's very, very easy if things go wrong to blame everybody else, to blame the broker, to blame the platform, to blame the robot that you've bought, to blame all these different things, to blame the indicator, to blame your strategy, to blame your coach, whatever it might be. It's very, very easy to blame other people. Or in fact, for most people, the real reason that they don't do well is through lack of learning, lack of discipline, lack of focus, controlled risk, all those type of things.
Trading is definitely not gambling
For me personally, it is definitely not gambling. I am the most ungambling person, if that's a word, that I know. I have never betted on horses or dogs or anything like that. I've never bought a lotto ticket, ever. I've been to a casino probably three times in my entire life, and that's briefly. I'm not a casino person, I'm not a gambling person, and Forex trading is not gambling. You have to understand that if you want to become a trader, you have to have discipline, you have to understand the market, and you have to have focus. You have to have controlled risk. You have to understand probability, all these type of things.
You must understand risk and probability in order to trade well
So for me, as a trader, I understand risk. I never, ever risk more than half of 1% of my account per trade. Never. Most of the time it's a quarter of a percent, a quarter to a half percent. Very, very low, controlled risk. I understand probability, I understand price action, I understand patterns, I understand strength and weakness, I understand where price might bounce, round numbers, support and resistance levels, previous highs, previous lows, pivot points. I understand what happens when we have divergence, when you have the price going one way and an indicator heading the other way.
I understand I've bought oversold situations, I read the news, I'm not a news trader, but I have a look at what's happening in the news, the fundamentals. Any big news events. I trade longer timeframe charts where they have more probability, they have more information contained within a candle than a five minute chart, as an example. So,]]>https://theforextradingcoach.com/?p=7296Sun, 27 Aug 2017 22:11:51 +0000Andrew MitchemPodcast: Is Trading Forex The Same As Gambling In this weekly video: 00:21 – Forex trading and gambling 00:53 – The blame game – it’s very easy to do 01:59 – Trading is definitely not gambling 02:45 – You must understand risk and probability in...
Is Trading Forex The Same As Gambling
In this weekly video:
00:21 – Forex trading and gambling
00:53 – The blame game – it’s very easy to do
01:59 – Trading is definitely not gambling
02:45 – You must understand risk and probability in order to trade well
05:04 – I’ve been trading for 14 years but it takes time
05:50 – Trading FX is one of the best things you can do
Is trading Forex gambling? Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach, video and podcast number 239.
Forex trading and gambling
I want to talk about Forex trading and gambling. Are they the same thing? Well, I certainly don't think they are, but I've had a comment today. It's been on YouTube. A guy said, "Andrew, what you're doing is you're gambling. Trading's not real. It's a terrible thing to do. You're just a gambler."
Well, a number of answers to that really. Thousands of people, hundreds of thousands of people around the world make their living from trading Forex, but there's more to it than just that.
The blame game – it’s very easy to do
You see, the problem is today, it's very easy to blame other people. Social media means that people can moan and groan and vent their anger and frustration very, very easily. You generally find that the people that are doing well and busy in life, and entrepreneurs, et cetera, they don't bother with this whinging and moaning and typing stuff everywhere, because they're too busy enjoying life and doing things and making money, and spending time with their family to worry about doing all this criticism stuff.
As a trader, it's very, very easy if things go wrong to blame everybody else, to blame the broker, to blame the platform, to blame the robot that you've bought, to blame all these different things, to blame the indicator, to blame your strategy, to blame your coach, whatever it might be. It's very, very easy to blame other people. Or in fact, for most people, the real reason that they don't do well is through lack of learning, lack of discipline, lack of focus, controlled risk, all those type of things.
Trading is definitely not gambling
For me personally, it is definitely not gambling. I am the most ungambling person, if that's a word, that I know. I have never betted on horses or dogs or anything like that. I've never bought a lotto ticket, ever. I've been to a casino probably three times in my entire life, and that's briefly. I'm not a casino person, I'm not a gambling person, and Forex trading is not gambling. You have to understand that if you want to become a trader, you have to have discipline, you have to understand the market, and you have to have focus. You have to have controlled risk. You have to understand probability, all these type of things.
You must understand risk and probability in order to trade well
So for me, as a trader, I understand risk. I never, ever risk more than half of 1% of my account per trade. Never. Most of the time it's a quarter of a percent, a quarter to a half percent. Very, very low, controlled risk. I understand probability, I understand price action, I understand patterns, I understand strength and weakness, I understand where price might bounce, round numbers, support and resistance levels, previous highs, previous lows, pivot points. I understand what happens when we have divergence, when you have the price going one way and an indicator heading the other way.
I understand I've bought oversold situations, I read the news, I'm not a news trader, but I have a look at what's happening in the news, the fundamentals. Any big news events. I trade longer timeframe charts where they have more probability, they have more information contained within a candle than a five minute chart, as an example. So,]]>425falsefullhttps://www.spreaker.com/episode/238-how-to-trade-and-travel--12614103
How To Trade and Travel
In this weekly video:
00:20 – Trading from Wanaka, New Zealand
01:18 – Made +1.55% in 2 days by trading and 20 minutes
02:10 – Trading and travelling – using Daily charts
03:33 – Make money and travelling without watching charts all day
04:43 – Learning how to trade by yourself
05:10 – Google “Dusky Sound, New Zealand”
Would you like to trade and travel at the same time? It's the ultimate goal for many traders. If that's you, you have to listen to this video, check it out.
Trading from Wanaka, New Zealand
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 238, coming to you from the beautiful, absolutely stunning Wanaka in the South Island of New Zealand. Absolutely amazing place here. If you've not been here just check out the scenery behind me. Absolutely spectacular. Well why am I here? Well yesterday I was absolutely thrilled and honoured and privileged to be able to fly a friend's helicopter all the way to a place called Dusky Sound, which is absolute wilderness, completely remote part of New Zealand that very few people have been to.
Actually Captain Cook's first landing place in New Zealand. Absolutely wonderful place. I got to fly the helicopter in and back out again. We spent the day fishing, caught some amazing fish, blue cod, ate some of them, still have some to eat for today. Just absolutely incredible.
Made +1.55% in 2 days by trading and 20 minutes
Why am I telling you this? Well one, I want you to come to New Zealand and have a look at this, why wouldn't you? Number two, at the same time, and today's Wednesday, I usually make my videos and podcasts on a Friday, but I had to share with you this amazing scenery.
Today's Wednesday, so on Monday and Tuesday, I've just traded ten minutes on each day and that's it and already with half percent risk per trade I'm up 1.55 percent on my account. That's just 20 minutes so far this week, 1.55 percent. It's just crazy. If you wanted to say, risk one percent per trade you'd be up what's that, 3.1 percent in two days and it can be done just by trading daily charts once a day.
Trading and travelling – using Daily charts
If trading and travelling is your ultimate goal, then you need to jump on board with this, you need to start looking at these longer timeframe charts.
Now the trades that I've mentioned, they've all been posted on my website as well, for my clients, so every client would be up the same, just by copying. That's it, of course you can still take trades yourselves and exactly like I mentioned on last week's same video and podcast, go and check it out, number 237 (watch it here), about why would you trade the shorter timeframe charts? It kind of doesn't make sense because people who want to trade and travel, you see all these funny images online of these beautiful women sat there in a bikini on the beach on a deck chair with their laptop, pretending that they're trading.
Well, if I was sat on a beach, the last thing I'd want to do is think about trading. Number one, you're going to get sand in your laptop so that's the end of the laptop, but you know, more realistically why would you be sat there on a beach trading? That basically says to me that these people who are talking about doing this, they're selling this ideal image, they're promoting you sat there trading five and fifteen minute charts, which to me is just like crazy. Why would you?
Make money and travelling without watching charts all day
If you want to be able to realistically trade and travel at the same time, then you need to be able to go and do things like this. Just look at it, it's spectacular.]]>https://theforextradingcoach.com/?p=7283Sun, 20 Aug 2017 21:37:26 +0000Andrew MitchemPodcast: How To Trade and Travel In this weekly video: 00:20 – Trading from Wanaka, New Zealand 01:18 – Made +1.55% in 2 days by trading and 20 minutes 02:10 – Trading and travelling – using Daily charts 03:33 – Make money and travelling without...
How To Trade and Travel
In this weekly video:
00:20 – Trading from Wanaka, New Zealand
01:18 – Made +1.55% in 2 days by trading and 20 minutes
02:10 – Trading and travelling – using Daily charts
03:33 – Make money and travelling without watching charts all day
04:43 – Learning how to trade by yourself
05:10 – Google “Dusky Sound, New Zealand”
Would you like to trade and travel at the same time? It's the ultimate goal for many traders. If that's you, you have to listen to this video, check it out.
Trading from Wanaka, New Zealand
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 238, coming to you from the beautiful, absolutely stunning Wanaka in the South Island of New Zealand. Absolutely amazing place here. If you've not been here just check out the scenery behind me. Absolutely spectacular. Well why am I here? Well yesterday I was absolutely thrilled and honoured and privileged to be able to fly a friend's helicopter all the way to a place called Dusky Sound, which is absolute wilderness, completely remote part of New Zealand that very few people have been to.
Actually Captain Cook's first landing place in New Zealand. Absolutely wonderful place. I got to fly the helicopter in and back out again. We spent the day fishing, caught some amazing fish, blue cod, ate some of them, still have some to eat for today. Just absolutely incredible.
Made +1.55% in 2 days by trading and 20 minutes
Why am I telling you this? Well one, I want you to come to New Zealand and have a look at this, why wouldn't you? Number two, at the same time, and today's Wednesday, I usually make my videos and podcasts on a Friday, but I had to share with you this amazing scenery.
Today's Wednesday, so on Monday and Tuesday, I've just traded ten minutes on each day and that's it and already with half percent risk per trade I'm up 1.55 percent on my account. That's just 20 minutes so far this week, 1.55 percent. It's just crazy. If you wanted to say, risk one percent per trade you'd be up what's that, 3.1 percent in two days and it can be done just by trading daily charts once a day.
Trading and travelling – using Daily charts
If trading and travelling is your ultimate goal, then you need to jump on board with this, you need to start looking at these longer timeframe charts.
Now the trades that I've mentioned, they've all been posted on my website as well, for my clients, so every client would be up the same, just by copying. That's it, of course you can still take trades yourselves and exactly like I mentioned on last week's same video and podcast, go and check it out, number 237 (watch it here), about why would you trade the shorter timeframe charts? It kind of doesn't make sense because people who want to trade and travel, you see all these funny images online of these beautiful women sat there in a bikini on the beach on a deck chair with their laptop, pretending that they're trading.
Well, if I was sat on a beach, the last thing I'd want to do is think about trading. Number one, you're going to get sand in your laptop so that's the end of the laptop, but you know, more realistically why would you be sat there on a beach trading? That basically says to me that these people who are talking about doing this, they're selling this ideal image, they're promoting you sat there trading five and fifteen minute charts, which to me is just like crazy. Why would you?
Make money and travelling without watching charts all day
If you want to be able to realistically trade and travel at the same time, then you need to be able to go and do things like this. Just look at it, it's spectacular.]]>401falsefullhttps://www.spreaker.com/episode/237-should-you-trade-the-short-time-frame-charts--12568453
Should you trade the short time frame charts?
In this weekly video:
00:22 – Always getting asked this question – I cannot trade the main sessions
01:20 – Go to the longer time frame charts
01:54 – Getting affected by fundamentals and spread size
02:38 – How much time to you want to spend at the charts each day?
03:23 – Trade less and make more
03:52 – Trade analysis and a 55% gain per year
Should you look at trading short time frame charts? Let's talk about that and more right now.
Always getting asked this question – I cannot trade the main sessions
Hi Forex Traders. This is Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 237.
Now, I get questions every week, and probably every day and people say to me, "Look Andrew. I can't trade the US session. I can't trade the European session. I'm at work. I've got family commitments. I'm asleep then," all these kind of issues that people have and for some reason, people seem to think that they have to trade the European session, which of course if you live in America, that's no good because it's like two or 3:00 in the morning.
People think they need to trade the US session. Well, for me here in New Zealand, that's two or 3:00 in the morning. I had a guy just yesterday from New Zealand. He said to me, "I can't trade the European session because that's our night time." He said, "I work nights so I can't trade in that European session, which I know is the most active time and it's the most profitable time to be a Forex trader. How do I get around it because I can only look in the daytime, which is the Asian session, and nothing happens most days in the Asian sessions so I can't trade. How do I work this, Andrew?”
Go to the longer time frame charts
Well, the simple answer is, go to the longer time frame charts. Go to the daily charts. You could trade five and 15 minute charts if you wanted to. My system works very nicely on those time frame charts. In all honesty, I don't trade them. It's just something that just doesn't suit my personality. I don't like sitting, watching the charts, watching the screen all the time, feeling like you have to be taking trades all the time. The shorter the timeframe you go, generally the less reliable the trading information, the technical information is.
Getting affected by fundamentals and spread size
You are more likely to get influenced by news events like fundamental events and widening spreads. Spreads actually become such a big part of your actual performance, because if you're trading and taking like a handful of pips maybe at like 10, 20 pips of profit, depending on the trade. You've paid two or three pips to get into that trade, all of a sudden, 10, 15% of your profit is being eaten up by the spread.
If you trade longer timeframe charts such as like daily charts and your profit target may be in 80 pips, 100, 150 whatever it might be depending on the trade again, and the volatility in the market at the time. I can handle paying two or three pips because it doesn't really make a great deal of difference.
How much time to you want to spend at the charts each day?
The other thing is also, how much time do you really want to spend at your charts? By trading the daily charts, it doesn't matter where you live in the world. I've got clients in 59 countries all around the world, all with different jobs, different set of commitments that they have in their life, and not a single person has a difficulty replacing my daily trades. Why? Well, I place retracement orders and then also I personally place part of my position at the market. I look at the 5pm close of New York day candle, and make my analysis from there. A daily chart has a lot of valuable information in it.]]>https://theforextradingcoach.com/?p=7268Sun, 13 Aug 2017 21:36:47 +0000Andrew MitchemPodcast: Should you trade the short time frame charts? In this weekly video: 00:22 – Always getting asked this question – I cannot trade the main sessions 01:20 – Go to the longer time frame charts 01:54 – Getting affected by fundamentals and...
Should you trade the short time frame charts?
In this weekly video:
00:22 – Always getting asked this question – I cannot trade the main sessions
01:20 – Go to the longer time frame charts
01:54 – Getting affected by fundamentals and spread size
02:38 – How much time to you want to spend at the charts each day?
03:23 – Trade less and make more
03:52 – Trade analysis and a 55% gain per year
Should you look at trading short time frame charts? Let's talk about that and more right now.
Always getting asked this question – I cannot trade the main sessions
Hi Forex Traders. This is Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 237.
Now, I get questions every week, and probably every day and people say to me, "Look Andrew. I can't trade the US session. I can't trade the European session. I'm at work. I've got family commitments. I'm asleep then," all these kind of issues that people have and for some reason, people seem to think that they have to trade the European session, which of course if you live in America, that's no good because it's like two or 3:00 in the morning.
People think they need to trade the US session. Well, for me here in New Zealand, that's two or 3:00 in the morning. I had a guy just yesterday from New Zealand. He said to me, "I can't trade the European session because that's our night time." He said, "I work nights so I can't trade in that European session, which I know is the most active time and it's the most profitable time to be a Forex trader. How do I get around it because I can only look in the daytime, which is the Asian session, and nothing happens most days in the Asian sessions so I can't trade. How do I work this, Andrew?”
Go to the longer time frame charts
Well, the simple answer is, go to the longer time frame charts. Go to the daily charts. You could trade five and 15 minute charts if you wanted to. My system works very nicely on those time frame charts. In all honesty, I don't trade them. It's just something that just doesn't suit my personality. I don't like sitting, watching the charts, watching the screen all the time, feeling like you have to be taking trades all the time. The shorter the timeframe you go, generally the less reliable the trading information, the technical information is.
Getting affected by fundamentals and spread size
You are more likely to get influenced by news events like fundamental events and widening spreads. Spreads actually become such a big part of your actual performance, because if you're trading and taking like a handful of pips maybe at like 10, 20 pips of profit, depending on the trade. You've paid two or three pips to get into that trade, all of a sudden, 10, 15% of your profit is being eaten up by the spread.
If you trade longer timeframe charts such as like daily charts and your profit target may be in 80 pips, 100, 150 whatever it might be depending on the trade again, and the volatility in the market at the time. I can handle paying two or three pips because it doesn't really make a great deal of difference.
How much time to you want to spend at the charts each day?
The other thing is also, how much time do you really want to spend at your charts? By trading the daily charts, it doesn't matter where you live in the world. I've got clients in 59 countries all around the world, all with different jobs, different set of commitments that they have in their life, and not a single person has a difficulty replacing my daily trades. Why? Well, I place retracement orders and then also I personally place part of my position at the market. I look at the 5pm close of New York day candle, and make my analysis from there. A daily chart has a lot of valuable information in it.]]>415falsefullhttps://www.spreaker.com/episode/236-how-to-trade-in-difficult-trading-conditions--12517372
How to trade in difficult trading conditions
In this weekly video:
00:24 – Tough trading conditions
00:57 – Part of the bigger picture
01.35 – Don’t force trades
03:20 – US Non-Farm Employment Change Data
How do we trade the Forex market when the conditions are not great for trading? Let's talk about that and more, right now.
Hey, Forex traders, it's Andrew Mitchem here, the Forex Trading Coach video and podcast number 236.
Tough trading conditions
Right now, the market conditions are horrible for trading. Not particularly friendly. Results overall are not great right now. Three weeks ago I was reporting how conditions were fantastic, were making some excellent trades, excellent returns, and since then, the last two weeks, the last week of July, first week of August, I personally found, and so many thousands of other traders all around the world found the conditions are not great, and we've had a couple losing weeks. That happens, that's part of trading, but right now, when you're in it, it's not easy.
Part of the bigger picture
Let's talk about that, because it is a part of the bigger picture of being a successful trader. You have to accept the good times, and you have to accept the bad times. What can we do about that? Well, first of all, we can kind of expect that these conditions will be happening right now. We're in the northern hemisphere summertime, so a lot of the banks, the big institutions, their staff are on holiday, the volumes within the Forex market have been reduced. There's some volatility, yes, but the conditions are not great, and it's been fairly hard trading conditions. I personally have found there have not been that many what you call A-grade trade setups.
Don’t force trades
The danger of that is you then start forcing trades to happen, and you feel like you should be trading all the time.
A number of things you can do to counteract that. One, make sure that you have low risk per trade, and always have low risk per trade. Number two, try to have multiple factors all backing up the trade at the same time. I was on a webinar with my clients just yesterday and we were talking about the trades, and some of these trades were hand-picked. We were trying to look at what would have been the best trades over the last week, and some I've taken, some clients have taken, and some were just hand-picked to be this is the perfect trade. If you waited for this, this would have been what we were looking for.
Now, those kind of trades, we were finding five, six, seven, eight, nine, sometimes ten things all in the favour of those trades, the profitable, winning trades. When we were looking at trades that people had taken or I had taken that lost, there were things there that were a little bit doubtful. When you have that indecision, when you have those doubtful factors with a trade in these conditions, and you know that every year, end of July through August is going to be tough because it just is every year, when you have these conditions, you have to be really quite strict with your trades. You have to have these multiple things all showing at the same time. Give yourself the best possible chance of that trade to be profitable by putting lots of factors all in the favour of the trade at the same time. That really is the key there. It's making sure you don't trade overly, like don't trade too much, don't force trades. If there's a little bit of hesitation, a little bit of doubt of what you see in that trade, don't take it.
US Non-Farm Employment Change Data
Today as an example, with non-farm employment change, non-farm payroll day, I've seen four trades that I was about to trade on the daily charts and post for clients, but I've said no to all four of them. One, it's non-farm payroll day, but two, there are a few factors there.]]>https://theforextradingcoach.com/?p=7251Sun, 06 Aug 2017 21:54:14 +0000Andrew MitchemPodcast: How to trade in difficult trading conditions In this weekly video: 00:24 – Tough trading conditions 00:57 – Part of the bigger picture 01.35 – Don’t force trades 03:20 – US Non-Farm Employment Change Data How do we trade the Forex market...
How to trade in difficult trading conditions
In this weekly video:
00:24 – Tough trading conditions
00:57 – Part of the bigger picture
01.35 – Don’t force trades
03:20 – US Non-Farm Employment Change Data
How do we trade the Forex market when the conditions are not great for trading? Let's talk about that and more, right now.
Hey, Forex traders, it's Andrew Mitchem here, the Forex Trading Coach video and podcast number 236.
Tough trading conditions
Right now, the market conditions are horrible for trading. Not particularly friendly. Results overall are not great right now. Three weeks ago I was reporting how conditions were fantastic, were making some excellent trades, excellent returns, and since then, the last two weeks, the last week of July, first week of August, I personally found, and so many thousands of other traders all around the world found the conditions are not great, and we've had a couple losing weeks. That happens, that's part of trading, but right now, when you're in it, it's not easy.
Part of the bigger picture
Let's talk about that, because it is a part of the bigger picture of being a successful trader. You have to accept the good times, and you have to accept the bad times. What can we do about that? Well, first of all, we can kind of expect that these conditions will be happening right now. We're in the northern hemisphere summertime, so a lot of the banks, the big institutions, their staff are on holiday, the volumes within the Forex market have been reduced. There's some volatility, yes, but the conditions are not great, and it's been fairly hard trading conditions. I personally have found there have not been that many what you call A-grade trade setups.
Don’t force trades
The danger of that is you then start forcing trades to happen, and you feel like you should be trading all the time.
A number of things you can do to counteract that. One, make sure that you have low risk per trade, and always have low risk per trade. Number two, try to have multiple factors all backing up the trade at the same time. I was on a webinar with my clients just yesterday and we were talking about the trades, and some of these trades were hand-picked. We were trying to look at what would have been the best trades over the last week, and some I've taken, some clients have taken, and some were just hand-picked to be this is the perfect trade. If you waited for this, this would have been what we were looking for.
Now, those kind of trades, we were finding five, six, seven, eight, nine, sometimes ten things all in the favour of those trades, the profitable, winning trades. When we were looking at trades that people had taken or I had taken that lost, there were things there that were a little bit doubtful. When you have that indecision, when you have those doubtful factors with a trade in these conditions, and you know that every year, end of July through August is going to be tough because it just is every year, when you have these conditions, you have to be really quite strict with your trades. You have to have these multiple things all showing at the same time. Give yourself the best possible chance of that trade to be profitable by putting lots of factors all in the favour of the trade at the same time. That really is the key there. It's making sure you don't trade overly, like don't trade too much, don't force trades. If there's a little bit of hesitation, a little bit of doubt of what you see in that trade, don't take it.
US Non-Farm Employment Change Data
Today as an example, with non-farm employment change, non-farm payroll day, I've seen four trades that I was about to trade on the daily charts and post for clients, but I've said no to all four of them. One, it's non-farm payroll day, but two, there are a few factors there.]]>307falsefullhttps://www.spreaker.com/episode/235-which-fx-pairs-should-you-trade--12469284
Which FX Pairs Should You Trade?
In this weekly video:
00:25 – Which currency pairs should I look at?
00:47 – It doesn’t matter where you live and what you trade
01:11 – Don’t just focus on the Major pairs
02:00 – Stick to the main 8 currencies
02:50 – What is the best technical setup – find that and trade it
03:48 – I also focus on strength and weakness
04:10 – What has the path of least resistance?
05:50 – Use Profiles to make life easy
How do you decide what currency pairs to trade as a Forex trader? Let’s get into that and more right now.
Hi, Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. This is video and podcast number 235.
Which currency pairs should I look at?
Now I get a lot of questions saying, “Hey, Andrew, can you tell me which currency pairs I should be trading? Which should I be focusing on?” Because it’s quite difficult for people to know which currencies to look at, there is so many obviously there to look at. And it’s a thing that confuses so many people. So let me give to you some tips and some helpful information of how I go through this process.
It doesn’t matter where you live and what you trade
First of all, it doesn’t matter where you live. A lot of people say they live in the UK, and they say, “I want to only trade the British pound pairs.” A lot of people live in Canada only want to trade the Canadian pairs. It doesn’t matter. Just because I live in New Zealand doesn’t mean to say I just trade New Zealand dollar pairs. It really does not matter.
Don’t just focus on the Major pairs
The other thing to be careful of is, a lot of people also say, “Just focus on the major pairs.” Like the euro US, the pound US, US Swiss franc, Aussie US, US yen, etc., US Canadian.” The problem is you’ll notice they all contain the US, so therefore what you are trading is very heavily dependent on the direction and the strength or weakness of the US dollar at that time.
So if you are generally trading the major pairs only, then half of what you are trading is focused on what the US dollar is doing. So that means you are either going to be completely right or completely wrong on the vast majority of those trades that you take if they are all correlated. So for me it’s like definitely look at some of those minor pairs and the exotic pairs, but only to a degree.
Stick to the main 8 currencies
I personally don’t go trading Norwegian kroners and South African rand and all that. I just stick to the majors which are the US dollar, the euro, the pound, Swiss franc, British pound, the Aussie, Kiwi and the Canadian. I might have missed one, but the main eight. And so stick to those and the combinations of each other.
So as an example. I’ve taken a trade today on the New Zealand Canadian dollar. It’s fine because it’s taking two of the main currencies, and it could be like the Australian dollar against the yen, it could be something like the Canadian Swiss franc, it could be a combination of those. So personally I’d stick to those main eight currencies and combination of each of them. So it doesn’t matter where you live in the world or what your local currency is or what your account is denominated in, none of that really matters.
What is the best technical setup – find that and trade it
To me as a technical trader it’s all about what is showing the best setup right at the time that I’m taking the trade. Now I only have a look at a chart upon the completion of a candle. So if I’m looking at a daily chart, it’s only once a day. If it’s a four-hour chart, it’s once every four hours.
And actually you probably know I’ve got some great software that I have for myself and my clients to trade. We look at offline charts which are non-standard MT4 charts and we get tremendous su...]]>https://theforextradingcoach.com/?p=7238Sun, 30 Jul 2017 20:55:34 +0000Andrew MitchemPodcast: Which FX Pairs Should You Trade? In this weekly video: 00:25 – Which currency pairs should I look at? 00:47 – It doesn’t matter where you live and what you trade 01:11 – Don’t just focus on the Major pairs 02:00 – Stick to the main 8...
Which FX Pairs Should You Trade?
In this weekly video:
00:25 – Which currency pairs should I look at?
00:47 – It doesn’t matter where you live and what you trade
01:11 – Don’t just focus on the Major pairs
02:00 – Stick to the main 8 currencies
02:50 – What is the best technical setup – find that and trade it
03:48 – I also focus on strength and weakness
04:10 – What has the path of least resistance?
05:50 – Use Profiles to make life easy
How do you decide what currency pairs to trade as a Forex trader? Let’s get into that and more right now.
Hi, Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. This is video and podcast number 235.
Which currency pairs should I look at?
Now I get a lot of questions saying, “Hey, Andrew, can you tell me which currency pairs I should be trading? Which should I be focusing on?” Because it’s quite difficult for people to know which currencies to look at, there is so many obviously there to look at. And it’s a thing that confuses so many people. So let me give to you some tips and some helpful information of how I go through this process.
It doesn’t matter where you live and what you trade
First of all, it doesn’t matter where you live. A lot of people say they live in the UK, and they say, “I want to only trade the British pound pairs.” A lot of people live in Canada only want to trade the Canadian pairs. It doesn’t matter. Just because I live in New Zealand doesn’t mean to say I just trade New Zealand dollar pairs. It really does not matter.
Don’t just focus on the Major pairs
The other thing to be careful of is, a lot of people also say, “Just focus on the major pairs.” Like the euro US, the pound US, US Swiss franc, Aussie US, US yen, etc., US Canadian.” The problem is you’ll notice they all contain the US, so therefore what you are trading is very heavily dependent on the direction and the strength or weakness of the US dollar at that time.
So if you are generally trading the major pairs only, then half of what you are trading is focused on what the US dollar is doing. So that means you are either going to be completely right or completely wrong on the vast majority of those trades that you take if they are all correlated. So for me it’s like definitely look at some of those minor pairs and the exotic pairs, but only to a degree.
Stick to the main 8 currencies
I personally don’t go trading Norwegian kroners and South African rand and all that. I just stick to the majors which are the US dollar, the euro, the pound, Swiss franc, British pound, the Aussie, Kiwi and the Canadian. I might have missed one, but the main eight. And so stick to those and the combinations of each other.
So as an example. I’ve taken a trade today on the New Zealand Canadian dollar. It’s fine because it’s taking two of the main currencies, and it could be like the Australian dollar against the yen, it could be something like the Canadian Swiss franc, it could be a combination of those. So personally I’d stick to those main eight currencies and combination of each of them. So it doesn’t matter where you live in the world or what your local currency is or what your account is denominated in, none of that really matters.
What is the best technical setup – find that and trade it
To me as a technical trader it’s all about what is showing the best setup right at the time that I’m taking the trade. Now I only have a look at a chart upon the completion of a candle. So if I’m looking at a daily chart, it’s only once a day. If it’s a four-hour chart, it’s once every four hours.
And actually you probably know I’ve got some great software that I have for myself and my clients to trade. We look at offline charts which are non-standard MT4 charts and we get tremendous su...]]>411falsefullhttps://www.spreaker.com/episode/234-which-forex-broker-should-you-use--12417256
Which Forex Broker Should You Use?
In this weekly video:
00:29 – Which broker should I use?
01:03 – I use Pepperstone, AxiTrader, Go Markets and Blueberry Markets
02:12 – ASIC Regulated brokers
02:30 – Oanda and Traders Way are the 2 brokers I suggest for US traders
03:55 – A new Trade Copier Service is now available
Which Forex broker should you use and why? It's an important subject. Let's talk about that and more, right now.
Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach video and podcast number 234.
Which broker should I use?
Now, a day doesn't go by without me getting a handful of emails asking me, "Andrew, which broker should I choose? This broker's not been fair to me. I can't get my money from that broker. I've read bad reviews about this broker. Who should I use?" So I can't tell you actually who you have to use. That becomes your choice. What I can tell you are the four brokers who I personally use with my own funds. I've been with them for a number of years. I like them, I trust them, and they're working well and I've sent a lot of people to them. But still you need to do your own due diligence and it needs to be right for you.
I use Pepperstone, AxiTrader, Go Markets and Blueberry Markets
If you're in America, there are two other brokers I'll mention shortly, but the four brokers who I personally use are Pepperstone, AxiTrader, Go Markets and Blueberry Markets. Now all four of those use the MT4, MetaTrader 4 platform. All four of them have the correct 5:00 p.m. Eastern Standard Time, that's New York time, start of day charts. So they all open a new day on the charts at 5:00 p.m. American, New York time. Really important that you have that on your charts, regardless of who you choose as your broker.
And what I've done is, I'll put a link below this video to the page on my site where you can go and find out more about those four brokers. If you're listening to the podcast, you can then go to forextradingcoach.com, click onto the products page, and then drop down to the Forex brokers page. So, once again, Pepperstone, AxiTrader, Go Markets and Blueberry Markets. To be perfectly honest, there is not a huge amount of difference between all four of them. All four are based in Australia. I'm based three-and-a-half hours away in New Zealand. So I'm not doing it because they are in the same country, which they're not. They're not even close to me.
ASIC Regulated brokers
The reason I'm using them is because all four, in my opinion, are good brokers. They're regulated in Australia, which is quite a high, strict ASIC-regulated area. And I've been with them for a number of years. You can have your accounts in various denominations. If you happen to live in Europe or somewhere else that's not close, doesn't matter, because they have servers in different countries around the world.
Oanda and Traders Way are the 2 brokers I suggest for US traders
If you are in America, then the two brokers who most of my American clients use are OANDA and Trader's Way.
And with all six of those brokers, I'm not endorsing them. You will find negative comments about all of them. Wherever you go, you're always gonna find people who get grumpy and get upset and blame the broker for losing trades and widening spreads and all this. What I'm saying are these are the four brokers who I personally use myself. I've never had an issue with them. And the two American brokers, OANDA and Trader's Way, are the two brokers that a lot of my US clients use and seemingly like.
And so have a look at them, do your own due diligence. It's really important. It's your money, you need to be comfortable with them. It's not just because I say they're good, you have to be comfortable yourself. So go and do that due diligence and do some research on them,]]>https://theforextradingcoach.com/?p=7223Sun, 23 Jul 2017 21:36:19 +0000Andrew MitchemPodcast: Which Forex Broker Should You Use? In this weekly video: 00:29 – Which broker should I use? 01:03 – I use Pepperstone, AxiTrader, Go Markets and Blueberry Markets 02:12 – ASIC Regulated brokers 02:30 – Oanda and Traders Way are the 2...
Which Forex Broker Should You Use?
In this weekly video:
00:29 – Which broker should I use?
01:03 – I use Pepperstone, AxiTrader, Go Markets and Blueberry Markets
02:12 – ASIC Regulated brokers
02:30 – Oanda and Traders Way are the 2 brokers I suggest for US traders
03:55 – A new Trade Copier Service is now available
Which Forex broker should you use and why? It's an important subject. Let's talk about that and more, right now.
Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach video and podcast number 234.
Which broker should I use?
Now, a day doesn't go by without me getting a handful of emails asking me, "Andrew, which broker should I choose? This broker's not been fair to me. I can't get my money from that broker. I've read bad reviews about this broker. Who should I use?" So I can't tell you actually who you have to use. That becomes your choice. What I can tell you are the four brokers who I personally use with my own funds. I've been with them for a number of years. I like them, I trust them, and they're working well and I've sent a lot of people to them. But still you need to do your own due diligence and it needs to be right for you.
I use Pepperstone, AxiTrader, Go Markets and Blueberry Markets
If you're in America, there are two other brokers I'll mention shortly, but the four brokers who I personally use are Pepperstone, AxiTrader, Go Markets and Blueberry Markets. Now all four of those use the MT4, MetaTrader 4 platform. All four of them have the correct 5:00 p.m. Eastern Standard Time, that's New York time, start of day charts. So they all open a new day on the charts at 5:00 p.m. American, New York time. Really important that you have that on your charts, regardless of who you choose as your broker.
And what I've done is, I'll put a link below this video to the page on my site where you can go and find out more about those four brokers. If you're listening to the podcast, you can then go to forextradingcoach.com, click onto the products page, and then drop down to the Forex brokers page. So, once again, Pepperstone, AxiTrader, Go Markets and Blueberry Markets. To be perfectly honest, there is not a huge amount of difference between all four of them. All four are based in Australia. I'm based three-and-a-half hours away in New Zealand. So I'm not doing it because they are in the same country, which they're not. They're not even close to me.
ASIC Regulated brokers
The reason I'm using them is because all four, in my opinion, are good brokers. They're regulated in Australia, which is quite a high, strict ASIC-regulated area. And I've been with them for a number of years. You can have your accounts in various denominations. If you happen to live in Europe or somewhere else that's not close, doesn't matter, because they have servers in different countries around the world.
Oanda and Traders Way are the 2 brokers I suggest for US traders
If you are in America, then the two brokers who most of my American clients use are OANDA and Trader's Way.
And with all six of those brokers, I'm not endorsing them. You will find negative comments about all of them. Wherever you go, you're always gonna find people who get grumpy and get upset and blame the broker for losing trades and widening spreads and all this. What I'm saying are these are the four brokers who I personally use myself. I've never had an issue with them. And the two American brokers, OANDA and Trader's Way, are the two brokers that a lot of my US clients use and seemingly like.
And so have a look at them, do your own due diligence. It's really important. It's your money, you need to be comfortable with them. It's not just because I say they're good, you have to be comfortable yourself. So go and do that due diligence and do some research on them,]]>299falsefullhttps://www.spreaker.com/episode/233-how-to-trade-a-trending-market--12367154
How To Trade A Trending Market
In this weekly video:
00:25 – Good strong trends in the market
00:45 – 13 trades closed and a +6% gain for the week
01:24 – How do you know if the market is trending?
02:03 – The great thing about technical trading
03:02 – I trade using retracements
04:05 – You can profit both ways – on reversal and continuation trades
04:52 – An auto trade signal service coming soon
I'm going to explain how you can trade really well in a trending market like we've seen this week. So, let's get into that and more right now.
Hi Forex Traders. Andrew Mitchem here at The Forex Trading Coach. This is video and podcast number 233.
Good strong trends in the market
This week we've had a fantastic change around in the market. We've had some very good, strong trends as opposed to last week when we had the American Independence Day, and we had non-farm payrolls. The market was pretty flat last week [inaudible 00:00:39] this week we've had some fantastic trades, some great opportunities to get into the market and ride the trends.
13 trades closed and a +6% gain for the week
Personally, I've had a great week so far. I've had 13 trades that I've closed out up over 6% on an account on a half-percent risk per-trade. Those have been across a variety of different time frames. Some weekly charts and daily 12 hour, 8 hour, 6 hour and 4 hour charts. Very little time per-day actually spent trading, but just over 6% return, half-percent risk per-trade. 13 trades. That's all. There's three trades still open behind me, they're all in positive territory. So, I'm looking at maybe increasing that to maybe 7% or 8% by the end of the week. So, it just shows what can be achieved.
How do you know if the market is trending?
So, how do you know when the market is trending? You can generally see that in hindsight after it's actually happened. In real time, you really don't know if it's trending, if it's range banned so it can reverse what's happening and that's the beauty of being a price action trader. A technical trader because I can only trade what I see on the charts at the time.
Now, I can have clues on the charts such as Bollinger Bands and things like that. When the Bollinger Bands widen when they get further apart, the market is generally trending more and it's moving further apart. When Bollinger Bands get tighter and closer together, then that means that the market is more range banned and it's flatter.
The great thing about technical trading
The beauty of technical trading is this: If the market is range banned and it's very flat, I generally know where to put profit targets and stop losses because I can figure out those levels according to what's happening in the market right now. Quite often when the market is range banned and flat, you don't actually find too many high-quality trade setups. So therefore, if the market is flat like last week, you don't see much happening. There's not a lot you can trade. You can take some trades, but very few.
This week, the market has been moving beautifully. Think trending markets. Therefore, it's been quite a lot of good setups. High-quality setups and it just gives us the opportunity to take far more trades, and profitable trades because the price action has been moving a lot, and profit targets are being hit on the vast majority of trades. So, it's of great time to be trading when this happens.
I trade using retracements
Now, I trade on retracements. So, that means I'm getting in at a better price than where the market is right now. With these big trends moving, you will get the up-trend, you get little pullbacks and it goes again, and that's a great way of trading. So, it's a continuation trade using a retracement. I‘ve also take a few trades. Now,]]>https://theforextradingcoach.com/?p=7198Sun, 16 Jul 2017 22:04:46 +0000Andrew MitchemPodcast: How To Trade A Trending Market In this weekly video: 00:25 – Good strong trends in the market 00:45 – 13 trades closed and a +6% gain for the week 01:24 – How do you know if the market is trending? 02:03 – The great thing about...
How To Trade A Trending Market
In this weekly video:
00:25 – Good strong trends in the market
00:45 – 13 trades closed and a +6% gain for the week
01:24 – How do you know if the market is trending?
02:03 – The great thing about technical trading
03:02 – I trade using retracements
04:05 – You can profit both ways – on reversal and continuation trades
04:52 – An auto trade signal service coming soon
I'm going to explain how you can trade really well in a trending market like we've seen this week. So, let's get into that and more right now.
Hi Forex Traders. Andrew Mitchem here at The Forex Trading Coach. This is video and podcast number 233.
Good strong trends in the market
This week we've had a fantastic change around in the market. We've had some very good, strong trends as opposed to last week when we had the American Independence Day, and we had non-farm payrolls. The market was pretty flat last week [inaudible 00:00:39] this week we've had some fantastic trades, some great opportunities to get into the market and ride the trends.
13 trades closed and a +6% gain for the week
Personally, I've had a great week so far. I've had 13 trades that I've closed out up over 6% on an account on a half-percent risk per-trade. Those have been across a variety of different time frames. Some weekly charts and daily 12 hour, 8 hour, 6 hour and 4 hour charts. Very little time per-day actually spent trading, but just over 6% return, half-percent risk per-trade. 13 trades. That's all. There's three trades still open behind me, they're all in positive territory. So, I'm looking at maybe increasing that to maybe 7% or 8% by the end of the week. So, it just shows what can be achieved.
How do you know if the market is trending?
So, how do you know when the market is trending? You can generally see that in hindsight after it's actually happened. In real time, you really don't know if it's trending, if it's range banned so it can reverse what's happening and that's the beauty of being a price action trader. A technical trader because I can only trade what I see on the charts at the time.
Now, I can have clues on the charts such as Bollinger Bands and things like that. When the Bollinger Bands widen when they get further apart, the market is generally trending more and it's moving further apart. When Bollinger Bands get tighter and closer together, then that means that the market is more range banned and it's flatter.
The great thing about technical trading
The beauty of technical trading is this: If the market is range banned and it's very flat, I generally know where to put profit targets and stop losses because I can figure out those levels according to what's happening in the market right now. Quite often when the market is range banned and flat, you don't actually find too many high-quality trade setups. So therefore, if the market is flat like last week, you don't see much happening. There's not a lot you can trade. You can take some trades, but very few.
This week, the market has been moving beautifully. Think trending markets. Therefore, it's been quite a lot of good setups. High-quality setups and it just gives us the opportunity to take far more trades, and profitable trades because the price action has been moving a lot, and profit targets are being hit on the vast majority of trades. So, it's of great time to be trading when this happens.
I trade using retracements
Now, I trade on retracements. So, that means I'm getting in at a better price than where the market is right now. With these big trends moving, you will get the up-trend, you get little pullbacks and it goes again, and that's a great way of trading. So, it's a continuation trade using a retracement. I‘ve also take a few trades. Now,]]>386falsefullhttps://www.spreaker.com/episode/232-what-it-takes-to-be-a-good-forex-trader--12316662
What It Takes To Be A Good Forex Trader
In this weekly video:
00:30 – You must have a passion for trading
01:44 – Controlling your emotions
02:22 – A willingness to learn and change
03:33 – Be dedicated to trading
04:10 – Develop a strategy that works for you
05:02 – You have to give this some time to work
05:43 – How can I help you?
06:07 – A very high success rate for clients – here’s why
07:07 – Click on the link below to find out more
What makes a good Forex trader? Let's talk about that and more right now.
Hello Forex traders. It's Andrew Mitchem here, The Forex Trading Coach video and podcast number 232. In this video, I'd like to explain about some of the main points you need to have in order to be a good Forex trader, so let's get into it.
You must have a passion for trading
Number one, and I think this is so important, very often overlooked. You need to have a desire to want to trade. You have to have a dedication to trade, but you have to have a passion for trading. It has to be something that you really want to do. Don't just get into Forex training because you've heard somewhere or read online it's a really good way of making some easy money. It will not work for you if that's the reason you're in it. If you're in it for a get rich quick idea, don't do it. If you're in it because you're a gambler, don't do it.
If you would like to become a Forex trader and genuinely have an interest in the markets, an interest in understanding how they work, an interest in making money, of course, but investing and being a good investor, then the Forex market is perfect for you. You have to have that approach up front. You have to have that genuine desire to know what's happening in the market. I think it's really important, often completely overlooked because everybody always jumps into the strategy first. You've got to really sort of enjoy it. You have to sort of look forward to trading each day. When it gets to the weekends, I'm disappointed I can't trade. I look forward to Monday mornings. For most people, Monday morning is about the worst thing that can happen to them because they have to go back to their job again. It's all about having that enjoyment in what you do.
Controlling your emotions
You have to be able to control your emotions. It's really important. You are dealing with money. You are dealing with life. Price action moving, sometimes things can be very, very slow. Other times things could be happening very, very quickly. You have to be able to control yourself, control your mind, understand what you're doing, be very level-headed about what you are doing because ultimately when you're trading with money, emotions do come into it. Again, when you're trading with strategy and you're trading with the unknown and you're trading with probability, because that's ultimately what we're doing, you have to be able to control your emotions and not react in a bad way to the market or what's happening. That's the first two points.
A willingness to learn and change
The third thing that you need to do, you have to have a willingness to learn. You have to have a willingness to change and a willingness to adapt to the market because market conditions do change over time. You have to have a willingness to, not just be completely rigid. Yes you have to stick to rules and yes you have to have a plan, and you have to be able to stick to rules and stick to a plan, but at the same time, as the market changes, you have to be able to adapt. Give you a great example, just yesterday, I held a webinar with clients. We took some trades on the four hour chats. Now, more recently, the four hour chats haven't been showing that many good trades, but this last week, they‘ve been showing some excellent trades.]]>https://theforextradingcoach.com/?p=7173Sun, 09 Jul 2017 21:52:13 +0000Andrew MitchemPodcast: What It Takes To Be A Good Forex Trader In this weekly video: 00:30 – You must have a passion for trading 01:44 – Controlling your emotions 02:22 – A willingness to learn and change 03:33 – Be dedicated to trading 04:10 – Develop a...
What It Takes To Be A Good Forex Trader
In this weekly video:
00:30 – You must have a passion for trading
01:44 – Controlling your emotions
02:22 – A willingness to learn and change
03:33 – Be dedicated to trading
04:10 – Develop a strategy that works for you
05:02 – You have to give this some time to work
05:43 – How can I help you?
06:07 – A very high success rate for clients – here’s why
07:07 – Click on the link below to find out more
What makes a good Forex trader? Let's talk about that and more right now.
Hello Forex traders. It's Andrew Mitchem here, The Forex Trading Coach video and podcast number 232. In this video, I'd like to explain about some of the main points you need to have in order to be a good Forex trader, so let's get into it.
You must have a passion for trading
Number one, and I think this is so important, very often overlooked. You need to have a desire to want to trade. You have to have a dedication to trade, but you have to have a passion for trading. It has to be something that you really want to do. Don't just get into Forex training because you've heard somewhere or read online it's a really good way of making some easy money. It will not work for you if that's the reason you're in it. If you're in it for a get rich quick idea, don't do it. If you're in it because you're a gambler, don't do it.
If you would like to become a Forex trader and genuinely have an interest in the markets, an interest in understanding how they work, an interest in making money, of course, but investing and being a good investor, then the Forex market is perfect for you. You have to have that approach up front. You have to have that genuine desire to know what's happening in the market. I think it's really important, often completely overlooked because everybody always jumps into the strategy first. You've got to really sort of enjoy it. You have to sort of look forward to trading each day. When it gets to the weekends, I'm disappointed I can't trade. I look forward to Monday mornings. For most people, Monday morning is about the worst thing that can happen to them because they have to go back to their job again. It's all about having that enjoyment in what you do.
Controlling your emotions
You have to be able to control your emotions. It's really important. You are dealing with money. You are dealing with life. Price action moving, sometimes things can be very, very slow. Other times things could be happening very, very quickly. You have to be able to control yourself, control your mind, understand what you're doing, be very level-headed about what you are doing because ultimately when you're trading with money, emotions do come into it. Again, when you're trading with strategy and you're trading with the unknown and you're trading with probability, because that's ultimately what we're doing, you have to be able to control your emotions and not react in a bad way to the market or what's happening. That's the first two points.
A willingness to learn and change
The third thing that you need to do, you have to have a willingness to learn. You have to have a willingness to change and a willingness to adapt to the market because market conditions do change over time. You have to have a willingness to, not just be completely rigid. Yes you have to stick to rules and yes you have to have a plan, and you have to be able to stick to rules and stick to a plan, but at the same time, as the market changes, you have to be able to adapt. Give you a great example, just yesterday, I held a webinar with clients. We took some trades on the four hour chats. Now, more recently, the four hour chats haven't been showing that many good trades, but this last week, they‘ve been showing some excellent trades.]]>467falsefullhttps://www.spreaker.com/episode/231-how-to-use-round-numbers-as-a-fx-trader--12270272
How to use Round Numbers as a FX Trader
In this weekly video:
00:29 – How to profit from using Round Numbers
01:15 – Strong Buying and Selling horizontal levels
01:53 – A level ending in 00 or 50 – price will react at these levels
02:52 – I use these levels in a variety of different ways – with a trade example
04:25 – How you can use round numbers
05:04 – Using a round number to predict my profit target and to add safety to a stop loss
05:35 – Use these levels and do some back testing
06:02 – Many traders fail to look at the price
I'm going to explain how you can profit from the Forex market by using round numbers. It's really important so listen up. Let's get into it right now.
Hey Forex traders! Andrew Mitchem here, The Forex trading coach. Video and podcast number 231.
How to profit from using Round Numbers
Now this is a really important lesson and I would like to explain to you how I use round numbers and how you can use round numbers to your advantage and to help you profit as a Forex trader. See the things that I like to do in trading, I keep things simple. To me it's really important that as a professional trader and as a Forex teacher, I'm teaching people how to trade in an easy, simplified way that is practical. You see it's all well and good having all these systems and lines crossing over and different things going on, but if it's not practical and it's not something that you can do in real time, and you can do with enjoyment as in like you're not trading all of the time, than it doesn't really mean a lot. So let's talk about round numbers because they are very, very important.
Strong Buying and Selling horizontal levels
The reason I like them is I like psychological levels, reasons why people are buying and selling. I also love the use of horizontal lines on my charts. Now you might say why horizontal? Well, a horizontal line does not move. It's always fixed. It's not like a moving average or a MacD or RSI or one of those other, you know, sort of squiggly lines on your charts that are moving all the time.
A horizontal line is a horizontal line. I can see it, you can see it, it doesn't matter who your broker is, what your platform is. It's there for everybody to see if you know what you're looking for.
A level ending in 00 or 50 – price will react at these levels
So think of it this way, a round number, and I call a round number something that ends in a 00 or a 50, so the price of the pair might be 0.7000 or 7100 or 7150, something like that. Something ending in 00 or 50. Think as in like why the price is reacting at those levels, so go back to a scenario we all know, let's go to a shop.
We're buying something and the price is $100 or $101 let's say, but that doesn't happen does it? Because when you buy something from a shop the price will be $99 or $99.50 or $99.99, you know, something like that. Psychologically round numbers are there everyday in what we do, what we buy, so it's no different to trading Forex. Think of the 00s and the 50s.
I use these levels in a variety of different ways – with a trade example
I love to use those levels in a variety of different ways. To give you an example, just last night I took a trade on the New Zealand dollar, Swiss Franc on the four hour chart, you can go and find it on your charts. It was taken on the 29th of June, go and find it on your charts.
The price bounced through the 70 level, 0.7000 and it showed a really good set up and I could use that in a few ways, the price, and I was selling the New Zealand Swiss Franc. The price had already closed below the 70 level, the 70 cents level. It meant that I could then use that as an area to put my stop loss above that because in order for the price or for the trade to fail,]]>https://theforextradingcoach.com/?p=7150Sun, 02 Jul 2017 21:57:34 +0000Andrew MitchemPodcast: How to use Round Numbers as a FX Trader In this weekly video: 00:29 – How to profit from using Round Numbers 01:15 – Strong Buying and Selling horizontal levels 01:53 – A level ending in 00 or 50 – price will react at these levels 02:52...
How to use Round Numbers as a FX Trader
In this weekly video:
00:29 – How to profit from using Round Numbers
01:15 – Strong Buying and Selling horizontal levels
01:53 – A level ending in 00 or 50 – price will react at these levels
02:52 – I use these levels in a variety of different ways – with a trade example
04:25 – How you can use round numbers
05:04 – Using a round number to predict my profit target and to add safety to a stop loss
05:35 – Use these levels and do some back testing
06:02 – Many traders fail to look at the price
I'm going to explain how you can profit from the Forex market by using round numbers. It's really important so listen up. Let's get into it right now.
Hey Forex traders! Andrew Mitchem here, The Forex trading coach. Video and podcast number 231.
How to profit from using Round Numbers
Now this is a really important lesson and I would like to explain to you how I use round numbers and how you can use round numbers to your advantage and to help you profit as a Forex trader. See the things that I like to do in trading, I keep things simple. To me it's really important that as a professional trader and as a Forex teacher, I'm teaching people how to trade in an easy, simplified way that is practical. You see it's all well and good having all these systems and lines crossing over and different things going on, but if it's not practical and it's not something that you can do in real time, and you can do with enjoyment as in like you're not trading all of the time, than it doesn't really mean a lot. So let's talk about round numbers because they are very, very important.
Strong Buying and Selling horizontal levels
The reason I like them is I like psychological levels, reasons why people are buying and selling. I also love the use of horizontal lines on my charts. Now you might say why horizontal? Well, a horizontal line does not move. It's always fixed. It's not like a moving average or a MacD or RSI or one of those other, you know, sort of squiggly lines on your charts that are moving all the time.
A horizontal line is a horizontal line. I can see it, you can see it, it doesn't matter who your broker is, what your platform is. It's there for everybody to see if you know what you're looking for.
A level ending in 00 or 50 – price will react at these levels
So think of it this way, a round number, and I call a round number something that ends in a 00 or a 50, so the price of the pair might be 0.7000 or 7100 or 7150, something like that. Something ending in 00 or 50. Think as in like why the price is reacting at those levels, so go back to a scenario we all know, let's go to a shop.
We're buying something and the price is $100 or $101 let's say, but that doesn't happen does it? Because when you buy something from a shop the price will be $99 or $99.50 or $99.99, you know, something like that. Psychologically round numbers are there everyday in what we do, what we buy, so it's no different to trading Forex. Think of the 00s and the 50s.
I use these levels in a variety of different ways – with a trade example
I love to use those levels in a variety of different ways. To give you an example, just last night I took a trade on the New Zealand dollar, Swiss Franc on the four hour chart, you can go and find it on your charts. It was taken on the 29th of June, go and find it on your charts.
The price bounced through the 70 level, 0.7000 and it showed a really good set up and I could use that in a few ways, the price, and I was selling the New Zealand Swiss Franc. The price had already closed below the 70 level, the 70 cents level. It meant that I could then use that as an area to put my stop loss above that because in order for the price or for the trade to fail,]]>394falsefullhttps://www.spreaker.com/episode/230-do-you-want-to-trade-5-minute-fx-charts--12231252
Do you want to trade 5 minute FX charts?
In this weekly video:
00:22 – Should you trade 5 minute charts?
01:05 – Unrealistic way of trading – too much chart time needed
01:48 – Trading at silly times of the morning
02:45 – Less strength on a 5 minute chart
03:32 – Trading the W1 and D1 charts while in the US
04:22 – Less than 1 hour per day to trade full time
04:50 – 14 Continuation pattern trades made +5.5% gain last week
06:08 – Software to trade offline charts
06:34 – Conclusions?
Why should you trade the five minute forex charts? Let's talk about that and more right now.
Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 230.
Should you trade 5 minute charts?
I'm going to talk about five minute chart trades. Why should you trade them? Should you trade them? Let's talk about that and see what your answer is in a couple of minutes from now. The reason I want to talk about five minute charts is I had an email from a guy in the UK called Michael. He came to me and said, "Look, Andrew, I'm struggling with my trading. I purchased a course." I'm not going to name you the course, but he said, "Look, I purchased the course, been doing it for a little while and I'm getting nowhere."
I said to him, "Okay, so tell me about the style of trading."
He said, "Look, it's all based on five minute charts." Instantly for me that's like a bit of a warning system going off there.
Unrealistic way of trading – too much chart time needed
I said, "Okay, Michael, what's the issue? Why can you not trade the system?"
He said to me, "Well, it's requiring a lot of" his time, a lot of the chart time, like he's sitting at the computer a lot. He's got work to do. He's got a wife and kids to commit to. He said, "I just can't commit that amount of time to sitting there watching charts, and when I do sit there watching charts, I'm feeling like I'm forcing trades to happen. I'm overtrading. I'm constantly scanning different charts, different currency pairs. I'm on five minute charts looking for setup, scared to miss something, and almost like a gambling mentality, that constantly having to do something, scared to miss a trade."
Trading at silly times of the morning
He also said that he has a mentor with his course who's over in America. He gets up at like three or four o'clock in the morning to trade the European session. Michael's there trying to go to work, and he's trying to trade. There's people getting up at like silly o'clock in the morning, crazy times in the morning, to trade these five minute time frame charts because they think they have to be there at that time trading these short time frame charts. You can get where I'm going with this. To me it's crazy. It's not sustainable. Even if you're making money from trading five minute charts, if you want to do that then maybe select say like an hour or so at a time that you're going to sit and do that.
My system works on five minute charts but I don't trade five minute charts. The same principle applies, but the downside is also you have to commit yourself to sitting watching the computer. You feel like you're forcing trades because you think [inaudible 00:02:40], therefore I'm going to look for trades.
Less strength on a 5 minute chart
The short time frame charts, if you're a technical trader like I am, a five minute chart doesn't really have a great deal of relevance because they still do work technically, but they have less relevance and less strength than say like an hour chart, or a four hour chart, or a daily chart, something like that.
The other thing is also you have to be really careful and mindful of news events.]]>https://theforextradingcoach.com/?p=7136Sun, 25 Jun 2017 22:11:55 +0000Andrew MitchemPodcast: Do you want to trade 5 minute FX charts? In this weekly video: 00:22 – Should you trade 5 minute charts? 01:05 – Unrealistic way of trading – too much chart time needed 01:48 – Trading at silly times of the morning 02:45 – Less strength...
Do you want to trade 5 minute FX charts?
In this weekly video:
00:22 – Should you trade 5 minute charts?
01:05 – Unrealistic way of trading – too much chart time needed
01:48 – Trading at silly times of the morning
02:45 – Less strength on a 5 minute chart
03:32 – Trading the W1 and D1 charts while in the US
04:22 – Less than 1 hour per day to trade full time
04:50 – 14 Continuation pattern trades made +5.5% gain last week
06:08 – Software to trade offline charts
06:34 – Conclusions?
Why should you trade the five minute forex charts? Let's talk about that and more right now.
Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 230.
Should you trade 5 minute charts?
I'm going to talk about five minute chart trades. Why should you trade them? Should you trade them? Let's talk about that and see what your answer is in a couple of minutes from now. The reason I want to talk about five minute charts is I had an email from a guy in the UK called Michael. He came to me and said, "Look, Andrew, I'm struggling with my trading. I purchased a course." I'm not going to name you the course, but he said, "Look, I purchased the course, been doing it for a little while and I'm getting nowhere."
I said to him, "Okay, so tell me about the style of trading."
He said, "Look, it's all based on five minute charts." Instantly for me that's like a bit of a warning system going off there.
Unrealistic way of trading – too much chart time needed
I said, "Okay, Michael, what's the issue? Why can you not trade the system?"
He said to me, "Well, it's requiring a lot of" his time, a lot of the chart time, like he's sitting at the computer a lot. He's got work to do. He's got a wife and kids to commit to. He said, "I just can't commit that amount of time to sitting there watching charts, and when I do sit there watching charts, I'm feeling like I'm forcing trades to happen. I'm overtrading. I'm constantly scanning different charts, different currency pairs. I'm on five minute charts looking for setup, scared to miss something, and almost like a gambling mentality, that constantly having to do something, scared to miss a trade."
Trading at silly times of the morning
He also said that he has a mentor with his course who's over in America. He gets up at like three or four o'clock in the morning to trade the European session. Michael's there trying to go to work, and he's trying to trade. There's people getting up at like silly o'clock in the morning, crazy times in the morning, to trade these five minute time frame charts because they think they have to be there at that time trading these short time frame charts. You can get where I'm going with this. To me it's crazy. It's not sustainable. Even if you're making money from trading five minute charts, if you want to do that then maybe select say like an hour or so at a time that you're going to sit and do that.
My system works on five minute charts but I don't trade five minute charts. The same principle applies, but the downside is also you have to commit yourself to sitting watching the computer. You feel like you're forcing trades because you think [inaudible 00:02:40], therefore I'm going to look for trades.
Less strength on a 5 minute chart
The short time frame charts, if you're a technical trader like I am, a five minute chart doesn't really have a great deal of relevance because they still do work technically, but they have less relevance and less strength than say like an hour chart, or a four hour chart, or a daily chart, something like that.
The other thing is also you have to be really careful and mindful of news events.]]>418falsefullhttps://www.spreaker.com/episode/229-continuation-patterns-give-better-results--12231250
Continuation Patterns Give Better Results
In this weekly video:
00:33 – Back in NZ after spending a few weeks in the US training new and existing clients
01:20 – Continuation patterns and Reversal Patterns
01:58 – Looking for Continuation Patterns – Software to help
02:30 – Examples of trading a Continuation Pattern
03:36 – A trade example from today’s webinar – made clients a +1.15% gain
04:24 – More from 1 trade than you’ll get in 1 year from a savings account in the US
I'm going to explain why I much prefer taking continuation patterns. Let's talk about that and more right now.
Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 229. I'm going to talk about why I much prefer taking continuation patterns as the majority of my forex trading setups as a technical trader.
Back in NZ after spending a few weeks in the US training new and existing clients
So, back in New Zealand, after spending the last two and half weeks in the U.S., had a fantastic time over there. We did some free events and some live in–person one-day events in North Carolina and in Washington D.C. Had a great time, met some fantastic people, and we achieved some amazing success.
Really, actually rewarding to meet existing clients who have been with me for a long time. I had some clients fly right across from the other side of America, from San Francisco to come across to train. I had a number of new clients as well. So, it was really interesting to meet those existing clients in person and just to see how well they're doing and to help new people with their trading. So, that was all about America. Back in New Zealand now this week.
Continuation patterns and Reversal Patterns
So the video today is about continuation patterns. So, as a trader … And I explained this to all of the people I taught last week. I'm looking for mainly two types of patterns. One is a reversal pattern. The other is a continuation pattern. Now, reversal patterns on the charts look really good. They're very rewarding to see. They look dramatic.
As an example, there's a large uptrend. We're taking a sell trade because of a technical reason to do that, and the market drops in our favour. The opposite, of course, is a large downtrend, we're looking, we're taking a buy trade, the market reverses back up in our favour. Very dramatic, look very good, but slightly higher risk.
Looking for Continuation Patterns – Software to help
So, to counteract that, my preferred way of trading is to look for a continuation pattern. I've got some great software that works on the MT4 platform. My clients all have access to it and it helps to give us a few reasons of why continuation pattern is likely to form and to give us confirmation that the reversal has happened, and the continuation is now back to resume, giving us an ideal opportunity to jump into the market at that point and ride the existing trend after a retracement or after a slight pullback.
Examples of trading a Continuation Pattern
So, what does that actually mean? Well, let's say the market's trending upwards. As it's trending upwards, there may or may not be opportunities to ride that, but what I'm preferring to do is look for a retracement or pullback and then an opportunity to ride it back up again. Take the opposite of that, the market's moving down, and then we're looking to wait for the retracement or the pullback and then look for opportunities to take the market down again and to take short positions, sell positions as the continuation of the main trend happens after a reversal or retracement. So, it's a very safe way of trading. You blend it all together with everything that I teach, everything that I'm looking for, and you add to it the bigger picture,]]>https://theforextradingcoach.com/?p=7122Sun, 18 Jun 2017 21:29:38 +0000Andrew MitchemPodcast: Continuation Patterns Give Better Results In this weekly video: 00:33 – Back in NZ after spending a few weeks in the US training new and existing clients 01:20 – Continuation patterns and Reversal Patterns 01:58 – Looking for Continuation...
Continuation Patterns Give Better Results
In this weekly video:
00:33 – Back in NZ after spending a few weeks in the US training new and existing clients
01:20 – Continuation patterns and Reversal Patterns
01:58 – Looking for Continuation Patterns – Software to help
02:30 – Examples of trading a Continuation Pattern
03:36 – A trade example from today’s webinar – made clients a +1.15% gain
04:24 – More from 1 trade than you’ll get in 1 year from a savings account in the US
I'm going to explain why I much prefer taking continuation patterns. Let's talk about that and more right now.
Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 229. I'm going to talk about why I much prefer taking continuation patterns as the majority of my forex trading setups as a technical trader.
Back in NZ after spending a few weeks in the US training new and existing clients
So, back in New Zealand, after spending the last two and half weeks in the U.S., had a fantastic time over there. We did some free events and some live in–person one-day events in North Carolina and in Washington D.C. Had a great time, met some fantastic people, and we achieved some amazing success.
Really, actually rewarding to meet existing clients who have been with me for a long time. I had some clients fly right across from the other side of America, from San Francisco to come across to train. I had a number of new clients as well. So, it was really interesting to meet those existing clients in person and just to see how well they're doing and to help new people with their trading. So, that was all about America. Back in New Zealand now this week.
Continuation patterns and Reversal Patterns
So the video today is about continuation patterns. So, as a trader … And I explained this to all of the people I taught last week. I'm looking for mainly two types of patterns. One is a reversal pattern. The other is a continuation pattern. Now, reversal patterns on the charts look really good. They're very rewarding to see. They look dramatic.
As an example, there's a large uptrend. We're taking a sell trade because of a technical reason to do that, and the market drops in our favour. The opposite, of course, is a large downtrend, we're looking, we're taking a buy trade, the market reverses back up in our favour. Very dramatic, look very good, but slightly higher risk.
Looking for Continuation Patterns – Software to help
So, to counteract that, my preferred way of trading is to look for a continuation pattern. I've got some great software that works on the MT4 platform. My clients all have access to it and it helps to give us a few reasons of why continuation pattern is likely to form and to give us confirmation that the reversal has happened, and the continuation is now back to resume, giving us an ideal opportunity to jump into the market at that point and ride the existing trend after a retracement or after a slight pullback.
Examples of trading a Continuation Pattern
So, what does that actually mean? Well, let's say the market's trending upwards. As it's trending upwards, there may or may not be opportunities to ride that, but what I'm preferring to do is look for a retracement or pullback and then an opportunity to ride it back up again. Take the opposite of that, the market's moving down, and then we're looking to wait for the retracement or the pullback and then look for opportunities to take the market down again and to take short positions, sell positions as the continuation of the main trend happens after a reversal or retracement. So, it's a very safe way of trading. You blend it all together with everything that I teach, everything that I'm looking for, and you add to it the bigger picture,]]>321falsefullhttps://www.spreaker.com/episode/228-how-important-is-your-win-rate--12231256
How Important Is Your Win Rate?
In this weekly video:
00:23 – I’m in Washington DC with Paul Tillman holding training sessions
00:50 – Should you be concerned with your win rate?
01:30 – 40% win rate and making money
01:50 – Free and paid training in the US
03:00 – Amazing client’s success
Andrew Mitchem: How important is win-rate to your trading success? Let's talk about that and lots more from America right now.
I’m in Washington DC with Paul Tillman holding training sessions
Hi, traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 228. I am here in Washington DC with Paul Tillman.
Paul Tillman: Hey, everybody.
Andrew Mitchem: A couple things we want to run through. Just to let you know that we're in Washington right now. We are holding some live events tonight and tomorrow night, Thursday and Friday, and that this weekend coming we're holding some live full-day training sessions. Did exactly the same in North Carolina last week. Had tremendous, tremendous success.
Should you be concerned with your win rate?
One of the parts that I want to just quickly run over is a lot of people said to me, and these were people who were not clients at the time, these are new traders. They were saying I'm really concerned about win-rates. When we went through the session, it was actually interesting. The more you think about, the more win-rate is actually not that important. I'll just explain why.
We had a guy who was talking about having a 90% win-rate and was actually losing money from his Forex trading. Reason being is he was taking lots of small profitable trades, sort of small either pips or percentages, and then having one or two huge great losses. The problem was the losses, of course, were wiping out all the gains. Yes, he may have had a 90% win rate, but he was losing money.
40% win rate and making money
We then get a client of mine who was talking and saying, "Well, I've got a 30% win rate, and I'm making money." In fact, Paul, who is sitting right next to me here, who's been with me for two years has got around a 40% win rate but is still making really good money. I believe he made about 4% on his account just last week. With that and more, I'll hand you over to Paul.
Free and paid training in the US
Paul Tillman: Absolutely. We're here in Washington DC. Right here Washington Monument and we've got these live sessions. We're doing free sessions tomorrow and Friday and then paid training into the weekend. We're going to be doing this all over the United States in the weeks and months to come so definitely watch out for that.
I want to talk just quickly, we were on the metro coming into the city. I heard a few guys talking saying, you know what, I pulled 56 hours this week. I pulled 60 hours this week. The thing that he said at the end really caught our attention. He said, "Well, that's life." We're thinking, "Well, that doesn't have to be life."
I sit here and Andrew and myself, we might trade four or five hours a week total, and you get that supplemental income and then you ramp up to a full income. You don't have to get in suits and ties and go to meetings all the time. Your work-life balance is incredible, phenomenal. It just goes to show you what you can do in just a few hours time making great gains on your account and all it takes is a little bit of education, coaching from us, webinars, forums, just all kinds of great things that we can offer you with The Forex Trading Coach.
Amazing client’s success
Andrew Mitchem: Yeah, absolutely. I couldn't say any more, really, because we've got proof. We've just met so many people in the last week and we will again this coming weekend, I'm sure, that have just had tremendous,]]>https://theforextradingcoach.com/?p=7106Sun, 11 Jun 2017 22:22:38 +0000Andrew MitchemPodcast: How Important Is Your Win Rate? In this weekly video: 00:23 – I’m in Washington DC with Paul Tillman holding training sessions 00:50 – Should you be concerned with your win rate? 01:30 – 40% win rate and making money 01:50 – Free and...
How Important Is Your Win Rate?
In this weekly video:
00:23 – I’m in Washington DC with Paul Tillman holding training sessions
00:50 – Should you be concerned with your win rate?
01:30 – 40% win rate and making money
01:50 – Free and paid training in the US
03:00 – Amazing client’s success
Andrew Mitchem: How important is win-rate to your trading success? Let's talk about that and lots more from America right now.
I’m in Washington DC with Paul Tillman holding training sessions
Hi, traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 228. I am here in Washington DC with Paul Tillman.
Paul Tillman: Hey, everybody.
Andrew Mitchem: A couple things we want to run through. Just to let you know that we're in Washington right now. We are holding some live events tonight and tomorrow night, Thursday and Friday, and that this weekend coming we're holding some live full-day training sessions. Did exactly the same in North Carolina last week. Had tremendous, tremendous success.
Should you be concerned with your win rate?
One of the parts that I want to just quickly run over is a lot of people said to me, and these were people who were not clients at the time, these are new traders. They were saying I'm really concerned about win-rates. When we went through the session, it was actually interesting. The more you think about, the more win-rate is actually not that important. I'll just explain why.
We had a guy who was talking about having a 90% win-rate and was actually losing money from his Forex trading. Reason being is he was taking lots of small profitable trades, sort of small either pips or percentages, and then having one or two huge great losses. The problem was the losses, of course, were wiping out all the gains. Yes, he may have had a 90% win rate, but he was losing money.
40% win rate and making money
We then get a client of mine who was talking and saying, "Well, I've got a 30% win rate, and I'm making money." In fact, Paul, who is sitting right next to me here, who's been with me for two years has got around a 40% win rate but is still making really good money. I believe he made about 4% on his account just last week. With that and more, I'll hand you over to Paul.
Free and paid training in the US
Paul Tillman: Absolutely. We're here in Washington DC. Right here Washington Monument and we've got these live sessions. We're doing free sessions tomorrow and Friday and then paid training into the weekend. We're going to be doing this all over the United States in the weeks and months to come so definitely watch out for that.
I want to talk just quickly, we were on the metro coming into the city. I heard a few guys talking saying, you know what, I pulled 56 hours this week. I pulled 60 hours this week. The thing that he said at the end really caught our attention. He said, "Well, that's life." We're thinking, "Well, that doesn't have to be life."
I sit here and Andrew and myself, we might trade four or five hours a week total, and you get that supplemental income and then you ramp up to a full income. You don't have to get in suits and ties and go to meetings all the time. Your work-life balance is incredible, phenomenal. It just goes to show you what you can do in just a few hours time making great gains on your account and all it takes is a little bit of education, coaching from us, webinars, forums, just all kinds of great things that we can offer you with The Forex Trading Coach.
Amazing client’s success
Andrew Mitchem: Yeah, absolutely. I couldn't say any more, really, because we've got proof. We've just met so many people in the last week and we will again this coming weekend, I'm sure, that have just had tremendous,]]>251falsefullhttps://www.spreaker.com/episode/227-real-trading-results--12231251
Real Trading Results
In this weekly video:
00:28 – Coaching sessions in the US
00:53 – Amazing trading results
01:36 – Client from the UK makes 6.5% in 20 days
02:12 – What makes the results so good?
02:46 – Great to meet clients in person as to see how FX is changing their lives
03:45 – Get to Washington DC next week
04:18 – Join my online video course if you’re unable to join us live next week
I want to share with you some results that clients have been making on live accounts in real time in the Forex market. Let's get into that and more right now.
Hey traders. Andrew Mitchem here. The Forex Trading Coach. Video and podcast number 227 coming from Raleigh in North Carolina in America.
Coaching sessions in the US
Now just yesterday I held a free intro session for people looking at jumping into Forex Trading and tonight we're doing exactly the same thing in Raleigh and then at the weekend we're holding some live events here, live training events and then moving onto Washington D.C. next week, so that's what we're up to in America.
Amazing trading results
But what I want to talk about in this video and podcast is some of the amazing results that clients are achieving. Now I've just been holding a webinar in the US session with Paul Tillman who's a client of mine who lives here in Raleigh and the results are just amazing. We had a guy Javier, who a few weeks ago I mentioned on the videos and podcasts. I met Javier just yesterday. He lives here. He made 18% in the last nine weeks on live account. Paul himself, he's made 4% so far just this week. I‘m up 2.5% and I've been here just trading daily charts. I‘m up 2.5% on my live account so far in just being in America for a few days.
Client from the UK makes 6.5% in 20 days
On the webinar I had a client in England and he said that he's made 6.5% in the last 20 days on live accounts again and these are people who have taken the course. They've studied the course. They've attended the live events. They jump onto the forum site and it's just happening all the time. I met another client last night, a guy called Andrew Terkington who lives here in Raleigh. He's been a client for I think about three months and he had made something like I think he said about 8% in that time on a live account. It's happening time and time again.
What makes the results so good?
Why's it happening? Why does this happen to clients? Why it's such a great success rate? Well, many reasons. One I'm a real trader. I'm here in America and I'm trading in the afternoon time now. 5:00 p.m. eastern standard time is when I‘m posting my daily charts, so I'm posting that in real time for people to follow. We're holding the live webinars. We've got the live forum site. We've got live chat for clients to talk to each other. We've got software. All these things are basically to ensure that clients have a really high success rate of being successful.
Great to meet clients in person as to see how FX is changing their lives
It's just really great to meet these people who have been clients, some for years such as like Paul has been a client for over two years and as you meet them in person and see where they live. See what they're doing and how being successful at the Forex market is actually changing their lives. It's just a great thing to see.
Last night I went out for a meal with Javier, with Andrew and with Paul and it's great to be sat with four people together. The four of us sat there together all making money and actually Paul said "I wonder how many people can sit down at a table of four with other successful Forex traders?" Not only knowing people who trade Forex to start with but successful and profitable traders and all four of us are just examples of that, so it was very,]]>https://theforextradingcoach.com/?p=7089Sun, 04 Jun 2017 22:09:58 +0000Andrew MitchemPodcast: Real Trading Results In this weekly video: 00:28 – Coaching sessions in the US 00:53 – Amazing trading results 01:36 – Client from the UK makes 6.5% in 20 days 02:12 – What makes the results so good? 02:46 – Great to meet clients in...
Real Trading Results
In this weekly video:
00:28 – Coaching sessions in the US
00:53 – Amazing trading results
01:36 – Client from the UK makes 6.5% in 20 days
02:12 – What makes the results so good?
02:46 – Great to meet clients in person as to see how FX is changing their lives
03:45 – Get to Washington DC next week
04:18 – Join my online video course if you’re unable to join us live next week
I want to share with you some results that clients have been making on live accounts in real time in the Forex market. Let's get into that and more right now.
Hey traders. Andrew Mitchem here. The Forex Trading Coach. Video and podcast number 227 coming from Raleigh in North Carolina in America.
Coaching sessions in the US
Now just yesterday I held a free intro session for people looking at jumping into Forex Trading and tonight we're doing exactly the same thing in Raleigh and then at the weekend we're holding some live events here, live training events and then moving onto Washington D.C. next week, so that's what we're up to in America.
Amazing trading results
But what I want to talk about in this video and podcast is some of the amazing results that clients are achieving. Now I've just been holding a webinar in the US session with Paul Tillman who's a client of mine who lives here in Raleigh and the results are just amazing. We had a guy Javier, who a few weeks ago I mentioned on the videos and podcasts. I met Javier just yesterday. He lives here. He made 18% in the last nine weeks on live account. Paul himself, he's made 4% so far just this week. I‘m up 2.5% and I've been here just trading daily charts. I‘m up 2.5% on my live account so far in just being in America for a few days.
Client from the UK makes 6.5% in 20 days
On the webinar I had a client in England and he said that he's made 6.5% in the last 20 days on live accounts again and these are people who have taken the course. They've studied the course. They've attended the live events. They jump onto the forum site and it's just happening all the time. I met another client last night, a guy called Andrew Terkington who lives here in Raleigh. He's been a client for I think about three months and he had made something like I think he said about 8% in that time on a live account. It's happening time and time again.
What makes the results so good?
Why's it happening? Why does this happen to clients? Why it's such a great success rate? Well, many reasons. One I'm a real trader. I'm here in America and I'm trading in the afternoon time now. 5:00 p.m. eastern standard time is when I‘m posting my daily charts, so I'm posting that in real time for people to follow. We're holding the live webinars. We've got the live forum site. We've got live chat for clients to talk to each other. We've got software. All these things are basically to ensure that clients have a really high success rate of being successful.
Great to meet clients in person as to see how FX is changing their lives
It's just really great to meet these people who have been clients, some for years such as like Paul has been a client for over two years and as you meet them in person and see where they live. See what they're doing and how being successful at the Forex market is actually changing their lives. It's just a great thing to see.
Last night I went out for a meal with Javier, with Andrew and with Paul and it's great to be sat with four people together. The four of us sat there together all making money and actually Paul said "I wonder how many people can sit down at a table of four with other successful Forex traders?" Not only knowing people who trade Forex to start with but successful and profitable traders and all four of us are just examples of that, so it was very,]]>321falsefullhttps://www.spreaker.com/episode/226-why-the-daily-trend-is-so-important--12231253
Why the Daily Trend is so Important
In this weekly video:
00:34 – Currencies are moving all the time
01:00 – I look at the Daily charts at the close of the candle
01:42 – Analysing the charts
02:30 – Adding probability to your trade
03:20 – Free daily analysis published each day
03:39 – Client makes +18% account gain on a live account in 9 weeks
04:24 – I’m heading to America this weekend – come and join me live in the US
Why is the daily trend so important to your trading success? Let's talk about that and more right now.
Hi, traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 226 and I'd like to talk about and stress the importance of understanding the daily trend and the likely daily direction, and how that can make such a big difference to your overall trading success.
Currencies are moving all the time
Currency pairs are moving all the time, different currencies are moving all the time. Some are strong, some are weak, some are going sideways. We really need to know how do we use that information to our advantage because things are changing. News events come out, price hits certain levels, political events, whatever it might be, things are always changing. It's very hard to know what the trend is right now unless you make some form of analysis.
I look at the Daily charts at the close of the candle
What I do is each day, I'm looking at the daily charts on the close of the candle. Upon the completion of the close, the 5 PM Eastern Standard Time, that's New York close of day chart, on the daily chart, I go through the different daily charts. I'm looking for stronger currencies and weaker currencies and then, putting the two of them together. You have a very strong currency that's strong against all others or most others, very weak currency that's weak against all others at that time.
Putting the two together and looking for ideal currencies that are likely to be moving up or currencies moving down, but it's not just a case of looking for strength and weakness only.
Analysing the charts
You then need to analyse what part of the chart that price occurs in. You're looking at candle patterns, you're looking at the formations or the candles, other factors influencing that actual candle pattern right now. At what part of the chart is it appearing in? You're putting all those things together and then, what I'm doing is I'm making an analysis of where I see which currencies for that particular day are favouring buy trades and which are favouring sell trades.
Now it does not mean to say that by the end of the day if I'm looking for buy trade, it does not mean to say that that currency will end up closing higher than it opened. If it does, fantastic, but it doesn't mean to say that will happen. What it means is when I then scale down and look for trades within the day.
Adding probability to your trade
If I see trades within that day that are setting up in the same direction as my longer term trend and longer term direction, surely that adds more weight and more probability to the likely outcome of that trade being a successful trade and in my favour.
What it does also is it helps to eliminate what I call false set-ups, set-ups that technically can look quite good, but they're against that bigger picture, against that bigger trend. Now, of course, some of those will work, but the probability is less so if it's trading against the longer term picture or the bigger likely direction for that pair for that day.
I like to use trends and trade with the trend, not always just for the trend. Sometimes after, I retrace and then I pull back and then looking for the trend to move down or up, whichever it's doing after we've had some form of retracement. It's a really important point there.]]>https://theforextradingcoach.com/?p=7062Mon, 29 May 2017 06:53:22 +0000Andrew MitchemPodcast: Why the Daily Trend is so Important In this weekly video: 00:34 – Currencies are moving all the time 01:00 – I look at the Daily charts at the close of the candle 01:42 – Analysing the charts 02:30 – Adding probability to your trade...
Why the Daily Trend is so Important
In this weekly video:
00:34 – Currencies are moving all the time
01:00 – I look at the Daily charts at the close of the candle
01:42 – Analysing the charts
02:30 – Adding probability to your trade
03:20 – Free daily analysis published each day
03:39 – Client makes +18% account gain on a live account in 9 weeks
04:24 – I’m heading to America this weekend – come and join me live in the US
Why is the daily trend so important to your trading success? Let's talk about that and more right now.
Hi, traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 226 and I'd like to talk about and stress the importance of understanding the daily trend and the likely daily direction, and how that can make such a big difference to your overall trading success.
Currencies are moving all the time
Currency pairs are moving all the time, different currencies are moving all the time. Some are strong, some are weak, some are going sideways. We really need to know how do we use that information to our advantage because things are changing. News events come out, price hits certain levels, political events, whatever it might be, things are always changing. It's very hard to know what the trend is right now unless you make some form of analysis.
I look at the Daily charts at the close of the candle
What I do is each day, I'm looking at the daily charts on the close of the candle. Upon the completion of the close, the 5 PM Eastern Standard Time, that's New York close of day chart, on the daily chart, I go through the different daily charts. I'm looking for stronger currencies and weaker currencies and then, putting the two of them together. You have a very strong currency that's strong against all others or most others, very weak currency that's weak against all others at that time.
Putting the two together and looking for ideal currencies that are likely to be moving up or currencies moving down, but it's not just a case of looking for strength and weakness only.
Analysing the charts
You then need to analyse what part of the chart that price occurs in. You're looking at candle patterns, you're looking at the formations or the candles, other factors influencing that actual candle pattern right now. At what part of the chart is it appearing in? You're putting all those things together and then, what I'm doing is I'm making an analysis of where I see which currencies for that particular day are favouring buy trades and which are favouring sell trades.
Now it does not mean to say that by the end of the day if I'm looking for buy trade, it does not mean to say that that currency will end up closing higher than it opened. If it does, fantastic, but it doesn't mean to say that will happen. What it means is when I then scale down and look for trades within the day.
Adding probability to your trade
If I see trades within that day that are setting up in the same direction as my longer term trend and longer term direction, surely that adds more weight and more probability to the likely outcome of that trade being a successful trade and in my favour.
What it does also is it helps to eliminate what I call false set-ups, set-ups that technically can look quite good, but they're against that bigger picture, against that bigger trend. Now, of course, some of those will work, but the probability is less so if it's trading against the longer term picture or the bigger likely direction for that pair for that day.
I like to use trends and trade with the trend, not always just for the trend. Sometimes after, I retrace and then I pull back and then looking for the trend to move down or up, whichever it's doing after we've had some form of retracement. It's a really important point there.]]>363falsefullhttps://www.spreaker.com/episode/225-how-big-should-your-stop-loss-be--12231249
How Big Should Your Stop Loss Be?
In this weekly video:
00:33 – What size should your stop loss be? It depends
01:10 – The way I like to trade
02:30 – You need to factor all those things together.
03:44 – Adjust your position size – use my free lot size calculator
04:27 – Should you use a trailing stop instead?
05:30 – Don’t simply move your stop loss to breakeven
06:08 – A set and forget approach
How big should your stop loss be as a Forex trader? Let's talk about that and more right now.
Hey traders. Andrew Mitchem here, the Forex trading coach. Video and podcast number 225. In this episode, I want to talk about a really important subject. It's all about, how big should your stop loss be?
What size should your stop loss be? It depends
My initial answer is probably not what you wanted to hear. My initial answer would be, it depends. It depends on a lot of things, so I can't give you a straight number of pips answer. I'll tell you why shortly. Stop losses, they're really important. In my opinion you should definitely use one. Some people say, "Don't use them at all". They say, "If you don't have a stop loss you can't get stopped out of the market". The problem that I see with that is that, that's fine in theory. The problem is that one or two bad trades that goes against you, and it just keeps going. Those are the trades that can do some serious damage on your account.
The way I like to trade
The way I like to trade is, I like to have a controlled and equal risk on every trade that I take. It doesn't matter what the strategy, what the time frame or the chart is. What the currency pair is. What the day of the week is. What the direction of the trade is. It doesn't matter. Therefore, when I'm taking those trades, I need to know the size of the stop loss. But I don't just take a generic stop loss. I don't say, "This trade is going to have a 30 pip stop loss", or, "This trade's going to have a 50 pip stop loss". You can not trade successfully like that, because a 30 pip or a 50 pip stop loss doesn't mean anything.
The stop loss size of your trade needs to be determined by a few things. One, your overall strategy. Two, the currency pair you're trading, because of course different pairs have different movements, so different amounts of move within a day. As an example, if you were trading the Euro and British Pound, vastly different to have a stop loss of 30 pips on that, as opposed to the British Pound and New Zealand Dollar, which could move 200 or 300 pips in a day. As opposed to the Euro/Pound that might move 50 pips in a day. It also depends on the time frame of the chart you are trading, and it also really importantly depends on the current market conditions.
Always place your stop loss at a level that protects the trade
You need to factor all those things together. What you should do is, always place your stop loss at a level that suggests that if that level gets hit and the price gets to that level, you accept that you're wrong, the trade is wrong, the set up is wrong. Whatever it might be. You accept that you take a loss on that particular trade. That's how you should place your stop loss. The level that gives the trade room to breathe, room to move, but also says that, "If it gets to this level, then I'm wrong". That's fine. You're going to be wrong as a Forex trader. No one is 100 percent accurate all of the time. Having a stop loss at that level that's a safety buffer, a safety level.
Once you have that, you can then calculate the stop loss size in pips, but it should never be just 30 pips or just 50 pips. It should never be a set level depending on what pair or what time frame you're on. You shouldn't do that. You should put that stop loss there according to that actual ...]]>https://theforextradingcoach.com/?p=7024Sun, 14 May 2017 21:59:39 +0000Andrew MitchemPodcast: How Big Should Your Stop Loss Be? In this weekly video: 00:33 – What size should your stop loss be? It depends 01:10 – The way I like to trade 02:30 – You need to factor all those things together. 03:44 – Adjust your position size – use my...
How Big Should Your Stop Loss Be?
In this weekly video:
00:33 – What size should your stop loss be? It depends
01:10 – The way I like to trade
02:30 – You need to factor all those things together.
03:44 – Adjust your position size – use my free lot size calculator
04:27 – Should you use a trailing stop instead?
05:30 – Don’t simply move your stop loss to breakeven
06:08 – A set and forget approach
How big should your stop loss be as a Forex trader? Let's talk about that and more right now.
Hey traders. Andrew Mitchem here, the Forex trading coach. Video and podcast number 225. In this episode, I want to talk about a really important subject. It's all about, how big should your stop loss be?
What size should your stop loss be? It depends
My initial answer is probably not what you wanted to hear. My initial answer would be, it depends. It depends on a lot of things, so I can't give you a straight number of pips answer. I'll tell you why shortly. Stop losses, they're really important. In my opinion you should definitely use one. Some people say, "Don't use them at all". They say, "If you don't have a stop loss you can't get stopped out of the market". The problem that I see with that is that, that's fine in theory. The problem is that one or two bad trades that goes against you, and it just keeps going. Those are the trades that can do some serious damage on your account.
The way I like to trade
The way I like to trade is, I like to have a controlled and equal risk on every trade that I take. It doesn't matter what the strategy, what the time frame or the chart is. What the currency pair is. What the day of the week is. What the direction of the trade is. It doesn't matter. Therefore, when I'm taking those trades, I need to know the size of the stop loss. But I don't just take a generic stop loss. I don't say, "This trade is going to have a 30 pip stop loss", or, "This trade's going to have a 50 pip stop loss". You can not trade successfully like that, because a 30 pip or a 50 pip stop loss doesn't mean anything.
The stop loss size of your trade needs to be determined by a few things. One, your overall strategy. Two, the currency pair you're trading, because of course different pairs have different movements, so different amounts of move within a day. As an example, if you were trading the Euro and British Pound, vastly different to have a stop loss of 30 pips on that, as opposed to the British Pound and New Zealand Dollar, which could move 200 or 300 pips in a day. As opposed to the Euro/Pound that might move 50 pips in a day. It also depends on the time frame of the chart you are trading, and it also really importantly depends on the current market conditions.
Always place your stop loss at a level that protects the trade
You need to factor all those things together. What you should do is, always place your stop loss at a level that suggests that if that level gets hit and the price gets to that level, you accept that you're wrong, the trade is wrong, the set up is wrong. Whatever it might be. You accept that you take a loss on that particular trade. That's how you should place your stop loss. The level that gives the trade room to breathe, room to move, but also says that, "If it gets to this level, then I'm wrong". That's fine. You're going to be wrong as a Forex trader. No one is 100 percent accurate all of the time. Having a stop loss at that level that's a safety buffer, a safety level.
Once you have that, you can then calculate the stop loss size in pips, but it should never be just 30 pips or just 50 pips. It should never be a set level depending on what pair or what time frame you're on. You shouldn't do that. You should put that stop loss there according to that actual ...]]>419falsefullhttps://www.spreaker.com/episode/224-what-happens-when-the-going-gets-tough--12231254Podcast:

What happens when the going gets tough?
In this weekly video:
00:29 – How do you react when trading gets tough
00:43 – I had a bad start to the week but ended up making +1.5% gain for the week
01:35 – I stuck to my plan and strategy
02:25 – Client makes +14.5% account gain in the last 30 days on a live account
03:22 – Trading your system not your account size
04:55 – Major news events so be careful
05:27 – My 8th Birthday Sale is live this week – register your interest using the link below
06:20 – A Global community of Forex traders – come and join us
What do you do when the going gets tough with your trading? Do you give up, or do you keep going? Let's talk about that and more right now.
Hi, Forex Traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 224. I want to talk to about what do you do as a person and as a Forex trader when the going gets tough?
How do you react when trading gets tough
Because it's very easy to just throw everything out and go, "It's not working." Blame the broker. Blame the system. Blame everything when things go tough.
I had a bad start to the week but ended up making +1.5% gain for the week
I'll give you an example, just this week I've had quite an average week with my own personal trading through Monday, Tuesday, and Wednesday. It was like "Oh" … I'm fine, I've been trading like 12 years, but I can see people go that stage, "This is not working" or "Do I start to tweak something." "Do I change my method." "Do I add something." "Do I give up." What do I do? It wasn't really bad it was just not a great start to the week.
Then, yesterday being Thursday, I had a tremendous day. Great profitable trades and it's made up for all those losses. Got me back to breakeven for the week and now into profit. Right now as I'm talking to you, we're on Friday, and I'm over one and a half percent gained for the week. It's gone from being a really pretty bad week through to a very good week.
I stuck to my plan and strategy
The reason it's done that is because I've stuck to my plan. I've stuck to my strategy. I haven't given up. I haven't thrown my toys out of the cot and gone "Oh, it doesn't work." The problem is that so many people especially the newer traders do that too quickly.
You have to try and avoid doing that. You've got to control your emotions. Sure no one likes to have losing trades and losing periods of time, but everybody does. You need to be able to accept that and take it and continue because when you‘ve have good periods, as I did yesterday. Yes it's nice to celebrate that and go "Oh wow, didn't I do well." But it's also about not getting that go to your head either and then doing stupid things on the next few days which go and blow all the good work. It's really important to have that balance.
Client makes +14.5% account gain in the last 30 days on a live account
Another example is a client of mine called Xavier who lives over in America. He posted a message on my forum site for clients, and he said, "Over the last 30 days, he's taken 120 trades in total." Which is quite a number of trades but he is a very active Forex Trader. 89 of those trades have lost, and 31 of those trades have been profitable. You could look at that and go "That's not particularly high ratio." A lot of people would say with those 89 losses they might have got fed up or stopped trading. But Xavier has said his up 14 and a half percent account gain, low risk, per trade, but it made 14 and a half percent on the last 30 days of trading. So it's tremendous account gain. You think about that 14 and a half percent in 30 da...]]>https://theforextradingcoach.com/?p=7015Sun, 07 May 2017 21:29:04 +0000Andrew MitchemWeekly Video Podcast: What happens when the going gets tough? In this weekly video: 00:29 – How do you react when trading gets tough 00:43 – I had a bad start to the week but ended up making +1.5% gain for the week 01:35 – I stuck to my plan and...Podcast:

What happens when the going gets tough?
In this weekly video:
00:29 – How do you react when trading gets tough
00:43 – I had a bad start to the week but ended up making +1.5% gain for the week
01:35 – I stuck to my plan and strategy
02:25 – Client makes +14.5% account gain in the last 30 days on a live account
03:22 – Trading your system not your account size
04:55 – Major news events so be careful
05:27 – My 8th Birthday Sale is live this week – register your interest using the link below
06:20 – A Global community of Forex traders – come and join us
What do you do when the going gets tough with your trading? Do you give up, or do you keep going? Let's talk about that and more right now.
Hi, Forex Traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 224. I want to talk to about what do you do as a person and as a Forex trader when the going gets tough?
How do you react when trading gets tough
Because it's very easy to just throw everything out and go, "It's not working." Blame the broker. Blame the system. Blame everything when things go tough.
I had a bad start to the week but ended up making +1.5% gain for the week
I'll give you an example, just this week I've had quite an average week with my own personal trading through Monday, Tuesday, and Wednesday. It was like "Oh" … I'm fine, I've been trading like 12 years, but I can see people go that stage, "This is not working" or "Do I start to tweak something." "Do I change my method." "Do I add something." "Do I give up." What do I do? It wasn't really bad it was just not a great start to the week.
Then, yesterday being Thursday, I had a tremendous day. Great profitable trades and it's made up for all those losses. Got me back to breakeven for the week and now into profit. Right now as I'm talking to you, we're on Friday, and I'm over one and a half percent gained for the week. It's gone from being a really pretty bad week through to a very good week.
I stuck to my plan and strategy
The reason it's done that is because I've stuck to my plan. I've stuck to my strategy. I haven't given up. I haven't thrown my toys out of the cot and gone "Oh, it doesn't work." The problem is that so many people especially the newer traders do that too quickly.
You have to try and avoid doing that. You've got to control your emotions. Sure no one likes to have losing trades and losing periods of time, but everybody does. You need to be able to accept that and take it and continue because when you‘ve have good periods, as I did yesterday. Yes it's nice to celebrate that and go "Oh wow, didn't I do well." But it's also about not getting that go to your head either and then doing stupid things on the next few days which go and blow all the good work. It's really important to have that balance.
Client makes +14.5% account gain in the last 30 days on a live account
Another example is a client of mine called Xavier who lives over in America. He posted a message on my forum site for clients, and he said, "Over the last 30 days, he's taken 120 trades in total." Which is quite a number of trades but he is a very active Forex Trader. 89 of those trades have lost, and 31 of those trades have been profitable. You could look at that and go "That's not particularly high ratio." A lot of people would say with those 89 losses they might have got fed up or stopped trading. But Xavier has said his up 14 and a half percent account gain, low risk, per trade, but it made 14 and a half percent on the last 30 days of trading. So it's tremendous account gain. You think about that 14 and a half percent in 30 da...]]>420falsefullhttps://www.spreaker.com/episode/223-some-of-the-best-ways-to-trade-in-the-current-market-conditions--12231255
Some of the best ways to trade in the current market conditions
In this video:
00:29 – Trading the current market conditions and my 8th Birthday Sale
00:48 – The current market conditions right now
01:55 – Go to the shorter time frame charts for setups
02:50 – Trades from my live webinar make profit of +0.6% gain
03:33 – Bigger picture in line with the trade
04:32 – Trade a mix of time frame charts and learn to adapt
05:25 – My 8th Birthday sale starts soon
06:25 – Not many others have lasted for 8 years
07:35 – Register your interest to ensure you don’t miss out
Let's talk about some of the best ways of trading the Forex market in the current market conditions. That and more, right now.
Hello Forex Traders, it's Andrew Mitchem here, the Forex Trading Coach. This is video and podcast number 223.
Trading the current market conditions and my 8th Birthday Sale
Two important topics today. Number one, I want to talk about the market conditions right now. What's the best way of trading. I've got some great examples to share with you and also after that, I would like to share with you information about my upcoming eighth birthday sale, an absolute amazing way for you to jump on board and join a huge global group of Forex Traders, and successful Forex Traders. More about that, shortly.
The current market conditions right now
First of all, the market conditions right now. Well, with Easter now out of the way, the market is sort of getting back to a few more, what you would call, normal market conditions. But also, we've seen a few issues that have made the markets on certain timeframes quite tricky. We had the snap British election date announcement, just about a week or so ago. The beginning of this week, we had the massive gap up on most, or especially the Euro and Yen currency pays largely related around the French election news. That's actually made the market on certain timeframes and the daily charts, in particular, are quite difficult because there's been a lot of gaps up.
When you get that, you'll likely to see one or two scenarios. You are either likely to see a retracement and then it goes again or you might see no retracement and it just keeps going. And of course in real time, it's hard to know which of those two scenarios you're gonna see.
Go to the shorter time frame charts for setups
But what I've found, is a really good way of trading the conditions in the market right now, is to go to slightly shorter timeframe charts. I've had tremendous success this week on six hour charts. Now most MT4 traders can't trade six hour charts, unfortunately. I've got some great software that I've had developed that I share with my clients that allows us to trade off-line charts. Charts like six hour charts, eight hour charts, twelve hour charts, et cetera. But the six hour chart trades, and I shared it with my clients on my live webinar just yesterday, just some tremendous results. High reward to risk. Just need to look at your charts maybe two, three times a day if you can. Just some great trading opportunities.
So, if you don't have that piece of software, what you can do is look at charts such as the four hour charts and also they have had some fairly good trading opportunities. Now yesterday on my live webinar, I took one four hour chart or actually I took three.
Trades from my live webinar make profit of +0.6% gain
One failed to get filled by just a fraction of a pip. Really annoying because it was a great trade. Another one missed that being filled by about three pips, but the one that did get filled, absolute perfect entry. Perfect exit and made a two point two to one reward to risk trade.
I also took a trade live in front of clients on a one hour chart that lost.]]>https://theforextradingcoach.com/?p=7005Sun, 30 Apr 2017 21:59:56 +0000Andrew MitchemPodcast: Some of the best ways to trade in the current market conditions In this video: 00:29 – Trading the current market conditions and my 8th Birthday Sale 00:48 – The current market conditions right now 01:55 – Go to the shorter time frame...
Some of the best ways to trade in the current market conditions
In this video:
00:29 – Trading the current market conditions and my 8th Birthday Sale
00:48 – The current market conditions right now
01:55 – Go to the shorter time frame charts for setups
02:50 – Trades from my live webinar make profit of +0.6% gain
03:33 – Bigger picture in line with the trade
04:32 – Trade a mix of time frame charts and learn to adapt
05:25 – My 8th Birthday sale starts soon
06:25 – Not many others have lasted for 8 years
07:35 – Register your interest to ensure you don’t miss out
Let's talk about some of the best ways of trading the Forex market in the current market conditions. That and more, right now.
Hello Forex Traders, it's Andrew Mitchem here, the Forex Trading Coach. This is video and podcast number 223.
Trading the current market conditions and my 8th Birthday Sale
Two important topics today. Number one, I want to talk about the market conditions right now. What's the best way of trading. I've got some great examples to share with you and also after that, I would like to share with you information about my upcoming eighth birthday sale, an absolute amazing way for you to jump on board and join a huge global group of Forex Traders, and successful Forex Traders. More about that, shortly.
The current market conditions right now
First of all, the market conditions right now. Well, with Easter now out of the way, the market is sort of getting back to a few more, what you would call, normal market conditions. But also, we've seen a few issues that have made the markets on certain timeframes quite tricky. We had the snap British election date announcement, just about a week or so ago. The beginning of this week, we had the massive gap up on most, or especially the Euro and Yen currency pays largely related around the French election news. That's actually made the market on certain timeframes and the daily charts, in particular, are quite difficult because there's been a lot of gaps up.
When you get that, you'll likely to see one or two scenarios. You are either likely to see a retracement and then it goes again or you might see no retracement and it just keeps going. And of course in real time, it's hard to know which of those two scenarios you're gonna see.
Go to the shorter time frame charts for setups
But what I've found, is a really good way of trading the conditions in the market right now, is to go to slightly shorter timeframe charts. I've had tremendous success this week on six hour charts. Now most MT4 traders can't trade six hour charts, unfortunately. I've got some great software that I've had developed that I share with my clients that allows us to trade off-line charts. Charts like six hour charts, eight hour charts, twelve hour charts, et cetera. But the six hour chart trades, and I shared it with my clients on my live webinar just yesterday, just some tremendous results. High reward to risk. Just need to look at your charts maybe two, three times a day if you can. Just some great trading opportunities.
So, if you don't have that piece of software, what you can do is look at charts such as the four hour charts and also they have had some fairly good trading opportunities. Now yesterday on my live webinar, I took one four hour chart or actually I took three.
Trades from my live webinar make profit of +0.6% gain
One failed to get filled by just a fraction of a pip. Really annoying because it was a great trade. Another one missed that being filled by about three pips, but the one that did get filled, absolute perfect entry. Perfect exit and made a two point two to one reward to risk trade.
I also took a trade live in front of clients on a one hour chart that lost.]]>565falsefullhttps://www.spreaker.com/episode/222-why-i-follow-the-charts--12231257
Why I Follow The Charts
In this video:
00:33 – The KISS approach – See it in real time from the right hand side of the chart
01:36 – News becomes my opinion but the charts are fact
02:02 – You don’t need to worry about news announcement
02:38 – Have a look at the GBP charts from Monday
03:54 – I see the trade setup and take the trade
04:56 – I’ll be teaching live in North Carolina and Washington DC in June
As a Forex trader, I follow what the charts are telling me. Let's talk about why that is right now.
Hi Forex traders. It's Andrew Mitchem here, the Forex Trading Coach. Today is video podcast number 222 and I want to talk about why, as a technical trader, I watch what the charts are telling me and I trade what the charts are telling me. It's a really important thing.
The KISS approach – See it in real time from the right hand side of the chart
As a trader, I love the K.I.S.S. approach, the Keep It Simple Stupid approach, because your technical trading or any form of trading needs to be simple. It needs to be something that you can see and apply in realtime without all the benefit of hindsight.
The charts do that for me. They tell me what's happening in the market right now on different currency pairs, depending on what timeframe I'm looking at, depending on what pair I'm looking at, I can then analyze strength and weakness against or for which currencies are showing strength and which are showing weakness right now. I can see which are showing exhaustion, which are range bound, which are trending, which are reversing, which are continuing. All sorts of different things that I'll look at in trading. But really easy to see it in realtime from the right hindsight of the chart and that's an important fact or an important point. You have to be able to trade from the right hindsight of the chart, look at what's happening right now in the market, when the candle is closed, make an opinion, and trust that opinion, and take that opinion. Because it's actual fact. It's what's happening in the market.
News becomes my opinion but the charts are fact
If I was to trade news, that becomes sort of my opinion as opposed to someone else's opinion. The charts are fact. It's where the price is right now, where it's been, its high, its low. Has it formed support at a certain level? Has it bounced at that level in the past? Is it at a round number? All these sort of things, as a technical trader, are fact because it actually happened.
You don’t need to worry about news announcement
I don't need to spend hours and hours studying the news events. I don't need to be at my computer just before a news event, waiting for it to be a better or worse announcement. I don't need to do any of that. I don't have to worry about the spreads or the charts freezing at a news announcement. None of that.
I'll give you an example. Earlier this week, we had Theresa May, the British Prime Minister, call a “snap election” in Britain. Completely unexpected. Hardly anybody knew about it because most of her cabinet didn't even know about it. Most people did not know that was coming.
Have a look at the GBP charts from Monday
However, go and have a look at your charts on the daily chart. Go and have a look at, say, like the British pound, Japanese yen, or British pound, Canadian dollar, and most of the British pound pairs. But those two, in particular, were showing very good, strong bullish buy setups on Easter Monday. Now, most years you would not expect too much decent price action on Easter Monday, especially on a British pound pair when Britain shut for Easter. However, go and have a look. Go look at your charts when you finish this video or podcast. Go and have a look at your charts on the daily charts. Look at the British pound, Japanese yen,]]>https://theforextradingcoach.com/?p=6974Sun, 23 Apr 2017 21:06:37 +0000Andrew MitchemPodcast: Why I Follow The Charts In this video: 00:33 – The KISS approach – See it in real time from the right hand side of the chart 01:36 – News becomes my opinion but the charts are fact 02:02 – You don’t need to worry about news announcement...
Why I Follow The Charts
In this video:
00:33 – The KISS approach – See it in real time from the right hand side of the chart
01:36 – News becomes my opinion but the charts are fact
02:02 – You don’t need to worry about news announcement
02:38 – Have a look at the GBP charts from Monday
03:54 – I see the trade setup and take the trade
04:56 – I’ll be teaching live in North Carolina and Washington DC in June
As a Forex trader, I follow what the charts are telling me. Let's talk about why that is right now.
Hi Forex traders. It's Andrew Mitchem here, the Forex Trading Coach. Today is video podcast number 222 and I want to talk about why, as a technical trader, I watch what the charts are telling me and I trade what the charts are telling me. It's a really important thing.
The KISS approach – See it in real time from the right hand side of the chart
As a trader, I love the K.I.S.S. approach, the Keep It Simple Stupid approach, because your technical trading or any form of trading needs to be simple. It needs to be something that you can see and apply in realtime without all the benefit of hindsight.
The charts do that for me. They tell me what's happening in the market right now on different currency pairs, depending on what timeframe I'm looking at, depending on what pair I'm looking at, I can then analyze strength and weakness against or for which currencies are showing strength and which are showing weakness right now. I can see which are showing exhaustion, which are range bound, which are trending, which are reversing, which are continuing. All sorts of different things that I'll look at in trading. But really easy to see it in realtime from the right hindsight of the chart and that's an important fact or an important point. You have to be able to trade from the right hindsight of the chart, look at what's happening right now in the market, when the candle is closed, make an opinion, and trust that opinion, and take that opinion. Because it's actual fact. It's what's happening in the market.
News becomes my opinion but the charts are fact
If I was to trade news, that becomes sort of my opinion as opposed to someone else's opinion. The charts are fact. It's where the price is right now, where it's been, its high, its low. Has it formed support at a certain level? Has it bounced at that level in the past? Is it at a round number? All these sort of things, as a technical trader, are fact because it actually happened.
You don’t need to worry about news announcement
I don't need to spend hours and hours studying the news events. I don't need to be at my computer just before a news event, waiting for it to be a better or worse announcement. I don't need to do any of that. I don't have to worry about the spreads or the charts freezing at a news announcement. None of that.
I'll give you an example. Earlier this week, we had Theresa May, the British Prime Minister, call a “snap election” in Britain. Completely unexpected. Hardly anybody knew about it because most of her cabinet didn't even know about it. Most people did not know that was coming.
Have a look at the GBP charts from Monday
However, go and have a look at your charts on the daily chart. Go and have a look at, say, like the British pound, Japanese yen, or British pound, Canadian dollar, and most of the British pound pairs. But those two, in particular, were showing very good, strong bullish buy setups on Easter Monday. Now, most years you would not expect too much decent price action on Easter Monday, especially on a British pound pair when Britain shut for Easter. However, go and have a look. Go look at your charts when you finish this video or podcast. Go and have a look at your charts on the daily charts. Look at the British pound, Japanese yen,]]>344falsefullhttps://www.spreaker.com/episode/221-the-no-1-biggest-mistake-i-see-forex-traders-make--12231260
The no.1 Biggest Mistake I See Forex Traders Make
In this video:
00:34 – Most traders take too big a position size
01:00 – Forget about making pips
02:40 – Understanding the current market conditions
03:26 – Reduce the risk you take per trade – use my calculator
05:40 – Trader risks it all on one trade
I'd like to discuss the number one biggest mistake that I see Forex traders making. It's a really important point, let's get into it right now.
Hello Forex traders. Andrew Mitchem here, The Forex Trading Coach, and this is video and podcast number 221. I want to talk about the number one biggest mistake that I see Forex traders all over making, and it's as simple as this.
Most traders take too big a position size
People trade with too big a position size. Their lot size is ridiculous in most cases and it causes too many problems. As a trader, these are the facts. You need to trade with low risk per trade, you need to have controlled risk per trade. You need to know what the very worst outcome is on that particular trade, and also, when you think about that.
Forget about making pips
You really need to forget about making pips. I've got a saying that “Pips make you poor”, and what I mean by that is that the actual thought process, like the mental approach of trying to make X number of pips is ridiculous. It is not a way that you're going to end up being a good trader. What you need to do is have low risk per trade and controlled risk per trade, so you know the worst you can do on that trade, but to calculate that, yes you need to know the stop loss of the trade, but you need to make that stop loss equate to certain percentage of your account. You see, I see people out there all the time, not really having a clue what they're doing and they're placing say one standard lot on a trade.
Why would you place one standard lot? What does it mean? It's different for every trade, isn't it? Some people might say, "Oh, now I'm going to place two standard lots, or 0.5 lots." Whatever it might be, but they put the same one every single trade, and it has no relevance to what currency pair they're trading, because don't forget, different currency pairs have different amounts they pay out per pip of movement. It has no relevance to the timeframe of chart they're trading, and generally, the shorter the time frame chart you trade in general, the smaller the stop loss will be but quite likely the smaller the profit target will be in pips. If you're just out there chasing pips, it really is almost doomed from the start. There's a number of issues that people have there, so they're placing too big of a position size without really knowing what they're doing.
Understanding the current market conditions
The problem is, also people don't really understand the market conditions at the time. "I place a 50 pip trade," that's what you hear from a lot of people, 50 pip stop loss per trade. "Aren't I good? I'm using a stop loss." Well, what does 50 pips mean? 50 pips on a British Pound/New Zealand Dollar is very, very different to 50 pips on a Euro/British Pound. 50 pips on a daily chart is very different to 50 pips on a five minute chart, so you need to get into context of what it is you're doing and what timeframe you're trading, what the conditions are in the market right now, what currency pair. All these sort of things need to be taken into account.
Reduce the risk you take per trade – use my calculator
What you can do in order to help yourself is to reduce your risk that you take per trade down to something that's small, low, conserved, manageable, and eliminate a lot of the emotions involved in trading. I've got something that's definitely going to help you. I have a lot size calculator freely available on my site.]]>https://theforextradingcoach.com/?p=6958Sun, 09 Apr 2017 20:56:44 +0000Andrew MitchemPodcast: The no.1 Biggest Mistake I See Forex Traders Make In this video: 00:34 – Most traders take too big a position size 01:00 – Forget about making pips 02:40 – Understanding the current market conditions 03:26 – Reduce the risk you take per...
The no.1 Biggest Mistake I See Forex Traders Make
In this video:
00:34 – Most traders take too big a position size
01:00 – Forget about making pips
02:40 – Understanding the current market conditions
03:26 – Reduce the risk you take per trade – use my calculator
05:40 – Trader risks it all on one trade
I'd like to discuss the number one biggest mistake that I see Forex traders making. It's a really important point, let's get into it right now.
Hello Forex traders. Andrew Mitchem here, The Forex Trading Coach, and this is video and podcast number 221. I want to talk about the number one biggest mistake that I see Forex traders all over making, and it's as simple as this.
Most traders take too big a position size
People trade with too big a position size. Their lot size is ridiculous in most cases and it causes too many problems. As a trader, these are the facts. You need to trade with low risk per trade, you need to have controlled risk per trade. You need to know what the very worst outcome is on that particular trade, and also, when you think about that.
Forget about making pips
You really need to forget about making pips. I've got a saying that “Pips make you poor”, and what I mean by that is that the actual thought process, like the mental approach of trying to make X number of pips is ridiculous. It is not a way that you're going to end up being a good trader. What you need to do is have low risk per trade and controlled risk per trade, so you know the worst you can do on that trade, but to calculate that, yes you need to know the stop loss of the trade, but you need to make that stop loss equate to certain percentage of your account. You see, I see people out there all the time, not really having a clue what they're doing and they're placing say one standard lot on a trade.
Why would you place one standard lot? What does it mean? It's different for every trade, isn't it? Some people might say, "Oh, now I'm going to place two standard lots, or 0.5 lots." Whatever it might be, but they put the same one every single trade, and it has no relevance to what currency pair they're trading, because don't forget, different currency pairs have different amounts they pay out per pip of movement. It has no relevance to the timeframe of chart they're trading, and generally, the shorter the time frame chart you trade in general, the smaller the stop loss will be but quite likely the smaller the profit target will be in pips. If you're just out there chasing pips, it really is almost doomed from the start. There's a number of issues that people have there, so they're placing too big of a position size without really knowing what they're doing.
Understanding the current market conditions
The problem is, also people don't really understand the market conditions at the time. "I place a 50 pip trade," that's what you hear from a lot of people, 50 pip stop loss per trade. "Aren't I good? I'm using a stop loss." Well, what does 50 pips mean? 50 pips on a British Pound/New Zealand Dollar is very, very different to 50 pips on a Euro/British Pound. 50 pips on a daily chart is very different to 50 pips on a five minute chart, so you need to get into context of what it is you're doing and what timeframe you're trading, what the conditions are in the market right now, what currency pair. All these sort of things need to be taken into account.
Reduce the risk you take per trade – use my calculator
What you can do in order to help yourself is to reduce your risk that you take per trade down to something that's small, low, conserved, manageable, and eliminate a lot of the emotions involved in trading. I've got something that's definitely going to help you. I have a lot size calculator freely available on my site.]]>402falsefullhttps://www.spreaker.com/episode/220-how-much-is-a-good-weekly-return-from-trading-the-forex-market--12231264
How much is a good weekly return from trading the Forex market?
In this video:
00:25 – What is a good return as a Forex trader?
00:40 – JAS Funds is at +2.6% for the week
02:05 – Low drawdowns, low risk trades
02:35 – 3 trades taken on a live webinar made coaching clients +1.25%
03:17 – Learning from watching a trader in real time – Weekly webinars for clients
04:10 – 2 live webinars for US and Canadian clients this week – link below
How much would you consider is a good return? Let's talk about that and more right now.
Hi, Forex traders, Andrew Mitchem here, The Forex Trading Coach and this is video and podcast number 220.
What is a good return as a Forex trader?
I wanted to talk about what makes a good return as a Forex trader. It means different things to different people. It depends whether you have a relatively small account, whether you have a big account, whether you are just starting out or whether you're a bigger, longer term investor. Let's talk about the different scenarios.
JAS Funds is at +2.6% for the week
As an example, this week on the manager accounts that I manage as part of JAS Funds, we're up 2.6 percent. It's a great return, I'm very, very happy. If we can do that every week I'll be extremely happy. Unfortunately we don't do that quite every week, but this week has been a very, very good week.
The key for us at JAS Funds is to have low risk for trade, it's to have a low draw down and it's to have high reward to risk trades. 2.6 percent gain in one week is an exception gain and investors are very, very happy. When you're trading with millions of dollars, you've got to have very low risk and very small draw downs.
However, if you were on say, let's say a 1,000 or $2,000 account, something like that, yes you could have higher risk and it's quite easy to see how people might make say, 10, 20 percent in a week or even in a month but that's something that you can do if you're on a smaller account if that amount of money doesn't mean the world to you. If one or $2,000 is your maximum account size and that's a huge amount to you, then you need to be very low risk, understanding how to trade and almost forget about the monetary return at this stage. Again, it's a bit like a video I made a few weeks ago, you have to think like an investor, so that's a really, really important thing to look at.
Low drawdowns, low risk trades
Now as I mentioned with JAS, we're looking at very low draw downs, but an annual return, we're looking at somewhere sort of 30 percent and above and if we do that year after year, then that's an exceptional return that investors are absolutely ecstatic about and so are we as traders. Again, it's about understanding what's important for you and what type of trader you are and what account size you have and why you're trading.
3 trades taken on a live webinar made coaching clients +1.25%
I'll give you another example of some great trades, just last night I held a webinar, a two hour live webinar in European trading session for my clients and I took three trades on the session live.
Two were on the one hour charts and one was on the six hour charts. The six hour chart trade lost and I lost half of one percent and on the other two trades, we gained a profit on both. We made a net gain of 1.25 percent on that account, risking half percent. On the JAS, which is the fund management, I'm only risking a quarter of one percent and so but on my personal account, I'm risking half of one percent because it's my own account. I made 1.25 percent and so did all the clients that copied those three trades just on the webinar just yesterday.
Learning from watching a trader in real time – Weekly webinars for clients
It's not just about for them the actual copying the trades,]]>https://theforextradingcoach.com/?p=6935Sun, 02 Apr 2017 21:07:20 +0000Andrew MitchemPodcast: How much is a good weekly return from trading the Forex market? In this video: 00:25 – What is a good return as a Forex trader? 00:40 – JAS Funds is at +2.6% for the week 02:05 – Low drawdowns, low risk trades 02:35 – 3 trades taken on...
How much is a good weekly return from trading the Forex market?
In this video:
00:25 – What is a good return as a Forex trader?
00:40 – JAS Funds is at +2.6% for the week
02:05 – Low drawdowns, low risk trades
02:35 – 3 trades taken on a live webinar made coaching clients +1.25%
03:17 – Learning from watching a trader in real time – Weekly webinars for clients
04:10 – 2 live webinars for US and Canadian clients this week – link below
How much would you consider is a good return? Let's talk about that and more right now.
Hi, Forex traders, Andrew Mitchem here, The Forex Trading Coach and this is video and podcast number 220.
What is a good return as a Forex trader?
I wanted to talk about what makes a good return as a Forex trader. It means different things to different people. It depends whether you have a relatively small account, whether you have a big account, whether you are just starting out or whether you're a bigger, longer term investor. Let's talk about the different scenarios.
JAS Funds is at +2.6% for the week
As an example, this week on the manager accounts that I manage as part of JAS Funds, we're up 2.6 percent. It's a great return, I'm very, very happy. If we can do that every week I'll be extremely happy. Unfortunately we don't do that quite every week, but this week has been a very, very good week.
The key for us at JAS Funds is to have low risk for trade, it's to have a low draw down and it's to have high reward to risk trades. 2.6 percent gain in one week is an exception gain and investors are very, very happy. When you're trading with millions of dollars, you've got to have very low risk and very small draw downs.
However, if you were on say, let's say a 1,000 or $2,000 account, something like that, yes you could have higher risk and it's quite easy to see how people might make say, 10, 20 percent in a week or even in a month but that's something that you can do if you're on a smaller account if that amount of money doesn't mean the world to you. If one or $2,000 is your maximum account size and that's a huge amount to you, then you need to be very low risk, understanding how to trade and almost forget about the monetary return at this stage. Again, it's a bit like a video I made a few weeks ago, you have to think like an investor, so that's a really, really important thing to look at.
Low drawdowns, low risk trades
Now as I mentioned with JAS, we're looking at very low draw downs, but an annual return, we're looking at somewhere sort of 30 percent and above and if we do that year after year, then that's an exceptional return that investors are absolutely ecstatic about and so are we as traders. Again, it's about understanding what's important for you and what type of trader you are and what account size you have and why you're trading.
3 trades taken on a live webinar made coaching clients +1.25%
I'll give you another example of some great trades, just last night I held a webinar, a two hour live webinar in European trading session for my clients and I took three trades on the session live.
Two were on the one hour charts and one was on the six hour charts. The six hour chart trade lost and I lost half of one percent and on the other two trades, we gained a profit on both. We made a net gain of 1.25 percent on that account, risking half percent. On the JAS, which is the fund management, I'm only risking a quarter of one percent and so but on my personal account, I'm risking half of one percent because it's my own account. I made 1.25 percent and so did all the clients that copied those three trades just on the webinar just yesterday.
Learning from watching a trader in real time – Weekly webinars for clients
It's not just about for them the actual copying the trades,]]>299falsefullhttps://www.spreaker.com/episode/219-how-to-trade-forex-in-less-than-1-hour-per-day--12231261
How To Trade Forex In Less Than 1 Hour Per Day
In this weekly video:
00:29 – Trade full time by spending less than 1 hour at your charts per day
00:42 – I’m coming to America in June to teach Forex
00:57 – Most people spend too long watching charts
01:40 – The less time you watch your charts, the better you will trade
03:10 – Trading 12, 6 and 4 hour charts
05:07 – 1 hour per day cover all charts
05:44 – I’ll be in America in June – live trading events in North Carolina and Washington DC
06:22 – Live webinars for US traders in April – the link is below the video
Would you like to know how to become a full time forex trader by spending less than one hour trading per day? If you would, listen up. I've got some great news for you.
Hi, Forex trader. Andrew Mitchem here, The Forex Trading Coach, and this is video and podcast #219. I've got two great bits of information to share with you today.
Trade full time by spending less than 1 hour at your charts per day
Number one I'd like to share with you how you can trade as a full time forex trader by spending one hour or less looking at your charts per day. I'm sure you'd like to know that. Number two, I'd like to share with you some great news.
I’m coming to America in June to teach Forex
I am coming to America, so if you are in America or maybe in Canada I'd love to come and meet you. I will be in America in the first two weeks of June in North Carolina and Washington, DC so more about that at the end of this video and podcast.
Most people spend too long watching charts
Let's start with the trading itself. Would you like to know how to trade full time in one hour or less per day? The problem is that so many people think that to become a full time forex trader they need to give up their job, they need to just stare at charts all day, they need to have CNN going, they need to have screens all over the place, and you don't.
The problem is that most people also think that in order to become a full time forex trader you need to be looking at price movements throughout the day. You need to be scalping, looking for news events. You need to be there watching your charts all day long. It's a big misconception because I can promise you that is not what you need to do in order to become a full time trader.
The less time you watch your charts, the better you will trade
In fact, the less you look at your charts once you understand how to trade the more you will make, the more profitable you'll be, the more you'll enjoy your trading and the more realistic it will be because you can keep continuing to do what it is you enjoy to do while you are trading. So let me explain.
Because I only look at the close of a chart, close of a candle, before I make any decision on what I'm doing, it's really easy because you can plan your day around the charts. Now, if I‘m trading on the weekly charts, I look at my charts just once a week at the beginning of the week when the market opens. It takes me 10 minutes per week to go through the weekly charts. Each day I look at the daily charts at the close of the daily candle at 5pm Eastern Standard Time. That's New York time. You can go to your charts, have a look at the daily candle when it's closed, and you can then make an analysis of what you're looking at doing.
If you understand technical trading and the way that I trade it's very, very easy within under 10 minutes per day to go through 20 to 30 different currency pairs depending on how many you want to look at and make an analysis. Are there any trade setups here? Yes or no? If there are, take them. Very easy to understand where to put your entries, your stop losses, your profit target, et cetera, and you can do it in under 10 minutes per day.]]>https://theforextradingcoach.com/?p=6925Sun, 26 Mar 2017 23:29:29 +0000Andrew MitchemPodcast: How To Trade Forex In Less Than 1 Hour Per Day In this weekly video: 00:29 – Trade full time by spending less than 1 hour at your charts per day 00:42 – I’m coming to America in June to teach Forex 00:57 – Most people spend too long...
How To Trade Forex In Less Than 1 Hour Per Day
In this weekly video:
00:29 – Trade full time by spending less than 1 hour at your charts per day
00:42 – I’m coming to America in June to teach Forex
00:57 – Most people spend too long watching charts
01:40 – The less time you watch your charts, the better you will trade
03:10 – Trading 12, 6 and 4 hour charts
05:07 – 1 hour per day cover all charts
05:44 – I’ll be in America in June – live trading events in North Carolina and Washington DC
06:22 – Live webinars for US traders in April – the link is below the video
Would you like to know how to become a full time forex trader by spending less than one hour trading per day? If you would, listen up. I've got some great news for you.
Hi, Forex trader. Andrew Mitchem here, The Forex Trading Coach, and this is video and podcast #219. I've got two great bits of information to share with you today.
Trade full time by spending less than 1 hour at your charts per day
Number one I'd like to share with you how you can trade as a full time forex trader by spending one hour or less looking at your charts per day. I'm sure you'd like to know that. Number two, I'd like to share with you some great news.
I’m coming to America in June to teach Forex
I am coming to America, so if you are in America or maybe in Canada I'd love to come and meet you. I will be in America in the first two weeks of June in North Carolina and Washington, DC so more about that at the end of this video and podcast.
Most people spend too long watching charts
Let's start with the trading itself. Would you like to know how to trade full time in one hour or less per day? The problem is that so many people think that to become a full time forex trader they need to give up their job, they need to just stare at charts all day, they need to have CNN going, they need to have screens all over the place, and you don't.
The problem is that most people also think that in order to become a full time forex trader you need to be looking at price movements throughout the day. You need to be scalping, looking for news events. You need to be there watching your charts all day long. It's a big misconception because I can promise you that is not what you need to do in order to become a full time trader.
The less time you watch your charts, the better you will trade
In fact, the less you look at your charts once you understand how to trade the more you will make, the more profitable you'll be, the more you'll enjoy your trading and the more realistic it will be because you can keep continuing to do what it is you enjoy to do while you are trading. So let me explain.
Because I only look at the close of a chart, close of a candle, before I make any decision on what I'm doing, it's really easy because you can plan your day around the charts. Now, if I‘m trading on the weekly charts, I look at my charts just once a week at the beginning of the week when the market opens. It takes me 10 minutes per week to go through the weekly charts. Each day I look at the daily charts at the close of the daily candle at 5pm Eastern Standard Time. That's New York time. You can go to your charts, have a look at the daily candle when it's closed, and you can then make an analysis of what you're looking at doing.
If you understand technical trading and the way that I trade it's very, very easy within under 10 minutes per day to go through 20 to 30 different currency pairs depending on how many you want to look at and make an analysis. Are there any trade setups here? Yes or no? If there are, take them. Very easy to understand where to put your entries, your stop losses, your profit target, et cetera, and you can do it in under 10 minutes per day.]]>523falsefullhttps://www.spreaker.com/episode/218-how-to-identify-high-probability-trade-setups--12231259
How to Identify High Probability Trade Setups
In this weekly video:
00:24 – Looking for trades that will work in your favour
01:03 – Most traders rely on an indicator
01:23 – You need to understand how to read the charts
02:12 – Putting multiple factors in your favour
04:05 – Look at the actual price of the currency and use round numbers
05:20 – Adding the daily strength and weakness
05:38 – Client makes +7% in 2 months trading the H4 charts
I'm gonna share with you some tips and ideas about looking for high-probability trade setups. So let's get into that right now.
Hi traders, Andrew Mitchem here, the owner of The Forex Trading Coach, and today is video and podcast number 218.
Looking for trades that will work in your favour
And I'm gonna be discussing with you, and sharing some tips and ideas of helping you to look for higher-probability trade setups. Trade setups that are gonna work in your favour far more often than they're not going to. You see, the problem is with a lot of traders, is they don't have a strategy, and they don't really understand the market.
And when I look around at different systems and different ideas that people tell me they're currently trading … And by the way, they're not making money on, otherwise they wouldn't be coming to me … And what they're doing, it kind of just doesn't add up to me.
Most traders rely on an indicator
Most people are relying on a indicator. They're looking for a line to cross over and another line on their charts. They're looking for a dot to appear on their charts or for a line to change colour, or all these type of things. And that really is not true technical trading.
You need to understand how to read the charts
You see, to understand trading properly, you have to understand the charts and look at the price. You have to understand what's happening in the market right now. And when you clutter your charts with too many lines and graphs and dots and stars, and all these things that people tend to, for whatever reason, think it's a really good idea to clutter their charts with … What you end up doing is not being able to see what's actually happening in the price, and understanding what's happening.
Someone sent me a screenshot the other day and said, "Hey Andrew, can you give me some advice on my strategy." And I actually couldn't see the candle patterns underneath all this congestion of this big mess of spaghetti and lines and things on the chart. So it was horrible. And no wonder this person was confused, because there was just so much stuff going on.
Putting multiple factors in your favour
And I said to him, "Look. Strip that off, and start again." And it was something that I discussed on my webinar with my clients last night, and it was all about putting factors in your favour to give yourself a high-probability chance of success. But what is it about this trade setup right now? Even when you understand candle patterns and price analysis, you still need more than just that.
You see, I'm a big believer in candle patternss and candle shapes, and where they occur. But you can't just say every bullish engulfing in candles means that price is gonna reverse and start moving up. You cannot do that. Likewise, if you use … Let's say Bollinger Bands. You can't say every time that the prices hit the upper Bollinger Band, it's now gonna start coming down again. Because it won't. It's like if you use divergence. Every time you see positive divergence, it doesn't mean to say the price is gonna suddenly reverse and start going up again, because it won't. You have to put a combination of different factors together.
And when I was sharing with my clients, just on the webinar last night … I was sharing with clients some ...]]>https://theforextradingcoach.com/?p=6911Sun, 19 Mar 2017 21:15:20 +0000Andrew MitchemPodcast: How to Identify High Probability Trade Setups In this weekly video: 00:24 – Looking for trades that will work in your favour 01:03 – Most traders rely on an indicator 01:23 – You need to understand how to read the charts 02:12 – Putting...
How to Identify High Probability Trade Setups
In this weekly video:
00:24 – Looking for trades that will work in your favour
01:03 – Most traders rely on an indicator
01:23 – You need to understand how to read the charts
02:12 – Putting multiple factors in your favour
04:05 – Look at the actual price of the currency and use round numbers
05:20 – Adding the daily strength and weakness
05:38 – Client makes +7% in 2 months trading the H4 charts
I'm gonna share with you some tips and ideas about looking for high-probability trade setups. So let's get into that right now.
Hi traders, Andrew Mitchem here, the owner of The Forex Trading Coach, and today is video and podcast number 218.
Looking for trades that will work in your favour
And I'm gonna be discussing with you, and sharing some tips and ideas of helping you to look for higher-probability trade setups. Trade setups that are gonna work in your favour far more often than they're not going to. You see, the problem is with a lot of traders, is they don't have a strategy, and they don't really understand the market.
And when I look around at different systems and different ideas that people tell me they're currently trading … And by the way, they're not making money on, otherwise they wouldn't be coming to me … And what they're doing, it kind of just doesn't add up to me.
Most traders rely on an indicator
Most people are relying on a indicator. They're looking for a line to cross over and another line on their charts. They're looking for a dot to appear on their charts or for a line to change colour, or all these type of things. And that really is not true technical trading.
You need to understand how to read the charts
You see, to understand trading properly, you have to understand the charts and look at the price. You have to understand what's happening in the market right now. And when you clutter your charts with too many lines and graphs and dots and stars, and all these things that people tend to, for whatever reason, think it's a really good idea to clutter their charts with … What you end up doing is not being able to see what's actually happening in the price, and understanding what's happening.
Someone sent me a screenshot the other day and said, "Hey Andrew, can you give me some advice on my strategy." And I actually couldn't see the candle patterns underneath all this congestion of this big mess of spaghetti and lines and things on the chart. So it was horrible. And no wonder this person was confused, because there was just so much stuff going on.
Putting multiple factors in your favour
And I said to him, "Look. Strip that off, and start again." And it was something that I discussed on my webinar with my clients last night, and it was all about putting factors in your favour to give yourself a high-probability chance of success. But what is it about this trade setup right now? Even when you understand candle patterns and price analysis, you still need more than just that.
You see, I'm a big believer in candle patternss and candle shapes, and where they occur. But you can't just say every bullish engulfing in candles means that price is gonna reverse and start moving up. You cannot do that. Likewise, if you use … Let's say Bollinger Bands. You can't say every time that the prices hit the upper Bollinger Band, it's now gonna start coming down again. Because it won't. It's like if you use divergence. Every time you see positive divergence, it doesn't mean to say the price is gonna suddenly reverse and start going up again, because it won't. You have to put a combination of different factors together.
And when I was sharing with my clients, just on the webinar last night … I was sharing with clients some ...]]>393falsefullhttps://www.spreaker.com/episode/217-how-to-become-one-of-the-5-10-of-traders-who-make-money-from-trading--12231262
How To Become One of The 5-10% of Traders Who Make Money From Trading
In this weekly video:
 00:30 – What it takes to become a successful Forex trader
01:12 – Why do so many people lose money from trading?
01.52 – Most don’t have a strategy or the right mindset
03:00 – How I can help you overcome these issues
03:45 – A trading strategy that is proven to work across all market conditions
06:16 – Live webinars for clients every week either in the European or US trading sessions
07:14 – Clients only Forum site to help and learn – building a trading community of like-minded traders
08:54 – Short cut the learning process
I'd like to share with you tips, help, and advice to help you become one of the 5 to 10% of Forex traders who actually makes money from trading, so let's get into that and more right now.
Hello Forex traders. Andrew Mitchem here, the Forex Trading Coach. This is video and podcast number 217.
What it takes to become a successful Forex trader
I want to talk about what it takes to become a successful Forex trader. How I can help you shortcut your learning path and save you lots of time, money, headaches, and frustration. Does that sound good? If so, keep listening. Okay, so there's a common number put around that somewhere between 90 to 95% of all Forex traders lose money.
How accurate that figure is I don't know but wherever you research online, somewhere between 90 to 95% is the figure that's commonly used. So, let's accept that that figure is correct for now.
Why do so many people lose money from trading?
Why is that and more importantly, what can you do to make sure that you're in the 5 to 10% of all Forex traders who make money? Because ultimately that's what you're here for, and it depends how important that is to you, and there's various ways of being a good trader but let me share with you my tips and secrets from around 14 years as a full time Forex trader, and I've seen all sorts of different people and companies come and go in that time believe you me, so I've got a fairly good, extensive knowledge of the Forex industry.
Most don’t have a strategy or the right mindset
Okay, so the problems are most people don't have a strategy. Of course, it's the obvious number one thing. They don't have the mindset of what it takes to become a good trader, they don't have a style that suits them, they don't have back up or help. People very easily get distracted when things don't work out, and you tend to get the … You know the phrase, "Blind leading the blind?" That is a very common problem in the Forex world. People find that when things don't work out for them, and their trades aren't working, they go to try to add something to it. They'll go and search for the next holy grail and the next best system, the next indicator, the next bit of news trading, whatever it might be. They're always on the search for the next thing rather than sticking to what they know.
It's a big danger. When you're out there by yourself trading it's very easy to get distracted and start searching online, so what can I do to help you overcome that?
How I can help you overcome these issues
I'd like to explain why such a massively high proportion of my coaching clients become very, very good Forex traders. In fact, one of them, a guy called Paul over in North Carolina in the US, he's now come onboard with me as part of the team. He's now holding live webinars in the US timeframe, so the US trading sessions. He's that successful I've said, "Look Paul, I'd like to offer you a position as part of the group," because he's done so well.
There's lots of people out there like Paul who have taken my course and done very well but let's start at the very beginning, and the basics.]]>https://theforextradingcoach.com/?p=6896Sun, 12 Mar 2017 21:04:12 +0000Andrew MitchemPodcast: How To Become One of The 5-10% of Traders Who Make Money From Trading In this weekly video:  00:30 – What it takes to become a successful Forex trader 01:12 – Why do so many people lose money from trading? 01.52 – Most don’t have a...
How To Become One of The 5-10% of Traders Who Make Money From Trading
In this weekly video:
 00:30 – What it takes to become a successful Forex trader
01:12 – Why do so many people lose money from trading?
01.52 – Most don’t have a strategy or the right mindset
03:00 – How I can help you overcome these issues
03:45 – A trading strategy that is proven to work across all market conditions
06:16 – Live webinars for clients every week either in the European or US trading sessions
07:14 – Clients only Forum site to help and learn – building a trading community of like-minded traders
08:54 – Short cut the learning process
I'd like to share with you tips, help, and advice to help you become one of the 5 to 10% of Forex traders who actually makes money from trading, so let's get into that and more right now.
Hello Forex traders. Andrew Mitchem here, the Forex Trading Coach. This is video and podcast number 217.
What it takes to become a successful Forex trader
I want to talk about what it takes to become a successful Forex trader. How I can help you shortcut your learning path and save you lots of time, money, headaches, and frustration. Does that sound good? If so, keep listening. Okay, so there's a common number put around that somewhere between 90 to 95% of all Forex traders lose money.
How accurate that figure is I don't know but wherever you research online, somewhere between 90 to 95% is the figure that's commonly used. So, let's accept that that figure is correct for now.
Why do so many people lose money from trading?
Why is that and more importantly, what can you do to make sure that you're in the 5 to 10% of all Forex traders who make money? Because ultimately that's what you're here for, and it depends how important that is to you, and there's various ways of being a good trader but let me share with you my tips and secrets from around 14 years as a full time Forex trader, and I've seen all sorts of different people and companies come and go in that time believe you me, so I've got a fairly good, extensive knowledge of the Forex industry.
Most don’t have a strategy or the right mindset
Okay, so the problems are most people don't have a strategy. Of course, it's the obvious number one thing. They don't have the mindset of what it takes to become a good trader, they don't have a style that suits them, they don't have back up or help. People very easily get distracted when things don't work out, and you tend to get the … You know the phrase, "Blind leading the blind?" That is a very common problem in the Forex world. People find that when things don't work out for them, and their trades aren't working, they go to try to add something to it. They'll go and search for the next holy grail and the next best system, the next indicator, the next bit of news trading, whatever it might be. They're always on the search for the next thing rather than sticking to what they know.
It's a big danger. When you're out there by yourself trading it's very easy to get distracted and start searching online, so what can I do to help you overcome that?
How I can help you overcome these issues
I'd like to explain why such a massively high proportion of my coaching clients become very, very good Forex traders. In fact, one of them, a guy called Paul over in North Carolina in the US, he's now come onboard with me as part of the team. He's now holding live webinars in the US timeframe, so the US trading sessions. He's that successful I've said, "Look Paul, I'd like to offer you a position as part of the group," because he's done so well.
There's lots of people out there like Paul who have taken my course and done very well but let's start at the very beginning, and the basics.]]>576falsefullhttps://www.spreaker.com/episode/216-why-you-need-to-think-like-an-investor--12231263
Why You Need To Think Like An Investor weekly video
In this weekly video:
00:29 – Think like an Investor
00:50 – It takes time and effort to become a good Forex trader
01:25 – The retail trader chases the money
02:10 – Don’t try to live off your gains when you start trading
03:06 – An Investor looks to place less trades and is prepared to wait
04:40 – The longer term perspective – the bigger picture
06:30 – Make a percentage gain
I'm going to explain why you need to think like a true investor in order to become a successful Forex trader. Let's get into that right now.
Hi, Forex traders, this is Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 216.
Think like an Investor
In this video, I'm going to be talking about why you need to think as an investor in order to become a successful Forex trader. Not just as a gambler as someone who sees Forex as a get rich quick scheme or someone who sees Forex as a way of solving financial problems that you may have or an easy solution, because it's not.
It takes time and effort to become a good Forex trader
Now, Forex trading, like all good things, takes time. It takes an understanding. It takes knowledge, investments, all those type of thing. You're going to get good times and bad times, without a doubt. The overall theme that I want to talk about and help you with today is you must think of trading Forex as an investor thinks. There's a big difference between most retail Forex traders who have maybe one or $5,000 and an investor who has maybe millions of dollars, certainly hundreds of thousands of dollars. There's a big difference in their mentality and their thinking.
The retail trader chases the money
You see, the retail trader … Too many retail traders, they're chasing the dollar or the pound or the yen. Whatever it is you're trading. They're chasing the money right now because they need to make so many dollars per week or per month in order to live and survive and pay their bills.
I truly understand that. I truly get that, but you cannot become a Forex trader just for the reason of trying to pay your day-to-day grocery bills, because that's not the way that you're going to learn to be a good trader. Once you understand how to be a good trader, paying your grocery bills is really … It doesn't even come into the equation, because you'll do really well from your trading.
Don’t try to live off your gains when you start trading
But when you start, don't try and live off your gains of being a trader. Another reason for that is, for most people, their account size is not big enough. It's important when you start that you realise you need to get into this in order to learn how to trade. Look at making a percentage gain.
Don't go chasing trades. Don't feel that you‘ve got to be forced to be in trades all of the time. That's another problem that I get with so many traders. I say, "Look. Just send me some screenshots of your trades," and they're taking 20, 30, 40 trades in a day. I'm thinking, "Why would you do this?" All you're doing is just basically just placing trades and hoping that some of them are going to come right, and more than not will, and therefore you're going to make some money. All you're really doing, apart from tiring yourself out by sitting at the computer screen all day, is you're feeding your broker's pocket. You're lining their pocket, because you're taking multiple trades, and every time that you take a trade, they'll clip the ticket and make money from you.
An Investor looks to place less trades and is prepared to wait
An investor looks at less trades. They look at high reward to risk trades. They look at high probability setups, and they're prepared to wait.]]>https://theforextradingcoach.com/?p=6882Sun, 05 Mar 2017 22:33:46 +0000Andrew MitchemPodcast: Why You Need To Think Like An Investor weekly video In this weekly video: 00:29 – Think like an Investor 00:50 – It takes time and effort to become a good Forex trader 01:25 – The retail trader chases the money 02:10 – Don’t try to live...
Why You Need To Think Like An Investor weekly video
In this weekly video:
00:29 – Think like an Investor
00:50 – It takes time and effort to become a good Forex trader
01:25 – The retail trader chases the money
02:10 – Don’t try to live off your gains when you start trading
03:06 – An Investor looks to place less trades and is prepared to wait
04:40 – The longer term perspective – the bigger picture
06:30 – Make a percentage gain
I'm going to explain why you need to think like a true investor in order to become a successful Forex trader. Let's get into that right now.
Hi, Forex traders, this is Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 216.
Think like an Investor
In this video, I'm going to be talking about why you need to think as an investor in order to become a successful Forex trader. Not just as a gambler as someone who sees Forex as a get rich quick scheme or someone who sees Forex as a way of solving financial problems that you may have or an easy solution, because it's not.
It takes time and effort to become a good Forex trader
Now, Forex trading, like all good things, takes time. It takes an understanding. It takes knowledge, investments, all those type of thing. You're going to get good times and bad times, without a doubt. The overall theme that I want to talk about and help you with today is you must think of trading Forex as an investor thinks. There's a big difference between most retail Forex traders who have maybe one or $5,000 and an investor who has maybe millions of dollars, certainly hundreds of thousands of dollars. There's a big difference in their mentality and their thinking.
The retail trader chases the money
You see, the retail trader … Too many retail traders, they're chasing the dollar or the pound or the yen. Whatever it is you're trading. They're chasing the money right now because they need to make so many dollars per week or per month in order to live and survive and pay their bills.
I truly understand that. I truly get that, but you cannot become a Forex trader just for the reason of trying to pay your day-to-day grocery bills, because that's not the way that you're going to learn to be a good trader. Once you understand how to be a good trader, paying your grocery bills is really … It doesn't even come into the equation, because you'll do really well from your trading.
Don’t try to live off your gains when you start trading
But when you start, don't try and live off your gains of being a trader. Another reason for that is, for most people, their account size is not big enough. It's important when you start that you realise you need to get into this in order to learn how to trade. Look at making a percentage gain.
Don't go chasing trades. Don't feel that you‘ve got to be forced to be in trades all of the time. That's another problem that I get with so many traders. I say, "Look. Just send me some screenshots of your trades," and they're taking 20, 30, 40 trades in a day. I'm thinking, "Why would you do this?" All you're doing is just basically just placing trades and hoping that some of them are going to come right, and more than not will, and therefore you're going to make some money. All you're really doing, apart from tiring yourself out by sitting at the computer screen all day, is you're feeding your broker's pocket. You're lining their pocket, because you're taking multiple trades, and every time that you take a trade, they'll clip the ticket and make money from you.
An Investor looks to place less trades and is prepared to wait
An investor looks at less trades. They look at high reward to risk trades. They look at high probability setups, and they're prepared to wait.]]>458falsefullhttps://www.spreaker.com/episode/215-how-leverage-can-help-you-achieve-your-trading-goals--12231258
How Leverage Can Help You Achieve Your Trading Goals weekly video
In this weekly video:
00:31 – We all use leverage to achieve things quicker and easier
01:00 – The problem with using leverage if you don’t know what you are doing
01:13 – I use leverage to help traders Worldwide
02:22 – Managed Forex Accounts using www.JASFunds.com
03:33 – Create Passive Income and a Diversified Investment
In this video and podcast, I want to talk about how leverage can really assist you achieve your trading goals. So, let's get into that right now.
Hi traders, it's Andrew Mitchem here. This is video and podcast number 215 and I want to talk about leverage, how leverage can help you and assist you to achieve your trading goals. Let's get into it.
We all use leverage to achieve things quicker and easier
Well, leverage, we use it everyday in so many ways to help us, to help us achieve things better, quicker, easier. When it comes to trading, it's no different. You see, you could go to a bank and use leverage by using a mortgage. In trading, I use leverage by using my broker's money. It's a great way if you know what you're doing.
The problem with using leverage if you don’t know what you are doing
But, the trouble is with leverage and the problem with leverage is it's a double-edged sword. If you don't know what you're doing, it can easily damage you. I've got something that can help you, two options really.
I use leverage to help traders Worldwide
Number one, with my Forex coaching course, I use leverage. I've taught over 1600 traders from all around the world. How to make money from trading but they're leveraging me.
They're leveraging my years of knowledge and experience, my ongoing support that I give people with daily, trading information. Which by the way, rough over 3% so far this week. We hold webinars. We can use leverage through webinars.
It reduces the cost. I don't need to travel to see people because the power of leverage in webinars, we all come together online. It's the same with the membership site in terms of we're using leverage for I write the post to people all around the world can get to see what I'm writing and suggesting to them on daily basis.
We're using leverage, we're using the power of the internet and we're using leverage. As in I can help so many people globally and they can tap into my knowledge and experience. That becomes leverage in terms of coaching and in terms of trading.
Managed Forex Accounts using www.JASFunds.com
Now, if the actual learning how to trade for yourself is something that either doesn't interest you. You don't have the time, you don't think you have the computer skills, whatever it might be, then I've got another option that uses leverage. It's called JAS Funds. IJ-A-S-F-U-N-D-S dot com.
www.jasfunds.com, JAS Funds. JAS Funds is a new company that I've started recently with two colleagues of mine and JAS Funds is a Forex management company. We are managing Forex accounts on behalf of individuals.
Now, there are some criteria and to qualify, you need be called what's called a "Wholesale Investor" in your own country. To find out what a wholesale investor is, visit our website and I'll put a link below this video. Also, it's JAS Funds, www.jasfunds.com. JAS Funds, you can use leverage because you can use our experience. Our trading knowledge and experience and we can do the trading for you.
Create Passive Income and a Diversified Investment
Again, it's a great way of using leverage. You can have passive income, you can use Forex as an alternative type of investment to the traditional investments. It's really quite independent to most other markets out there. If you're looking to diversify your portfolio or expand int...]]>https://theforextradingcoach.com/?p=6863Sun, 26 Feb 2017 22:55:55 +0000Andrew MitchemPodcast: How Leverage Can Help You Achieve Your Trading Goals weekly video In this weekly video: 00:31 – We all use leverage to achieve things quicker and easier 01:00 – The problem with using leverage if you don’t know what you are doing 01:13 –...
How Leverage Can Help You Achieve Your Trading Goals weekly video
In this weekly video:
00:31 – We all use leverage to achieve things quicker and easier
01:00 – The problem with using leverage if you don’t know what you are doing
01:13 – I use leverage to help traders Worldwide
02:22 – Managed Forex Accounts using www.JASFunds.com
03:33 – Create Passive Income and a Diversified Investment
In this video and podcast, I want to talk about how leverage can really assist you achieve your trading goals. So, let's get into that right now.
Hi traders, it's Andrew Mitchem here. This is video and podcast number 215 and I want to talk about leverage, how leverage can help you and assist you to achieve your trading goals. Let's get into it.
We all use leverage to achieve things quicker and easier
Well, leverage, we use it everyday in so many ways to help us, to help us achieve things better, quicker, easier. When it comes to trading, it's no different. You see, you could go to a bank and use leverage by using a mortgage. In trading, I use leverage by using my broker's money. It's a great way if you know what you're doing.
The problem with using leverage if you don’t know what you are doing
But, the trouble is with leverage and the problem with leverage is it's a double-edged sword. If you don't know what you're doing, it can easily damage you. I've got something that can help you, two options really.
I use leverage to help traders Worldwide
Number one, with my Forex coaching course, I use leverage. I've taught over 1600 traders from all around the world. How to make money from trading but they're leveraging me.
They're leveraging my years of knowledge and experience, my ongoing support that I give people with daily, trading information. Which by the way, rough over 3% so far this week. We hold webinars. We can use leverage through webinars.
It reduces the cost. I don't need to travel to see people because the power of leverage in webinars, we all come together online. It's the same with the membership site in terms of we're using leverage for I write the post to people all around the world can get to see what I'm writing and suggesting to them on daily basis.
We're using leverage, we're using the power of the internet and we're using leverage. As in I can help so many people globally and they can tap into my knowledge and experience. That becomes leverage in terms of coaching and in terms of trading.
Managed Forex Accounts using www.JASFunds.com
Now, if the actual learning how to trade for yourself is something that either doesn't interest you. You don't have the time, you don't think you have the computer skills, whatever it might be, then I've got another option that uses leverage. It's called JAS Funds. IJ-A-S-F-U-N-D-S dot com.
www.jasfunds.com, JAS Funds. JAS Funds is a new company that I've started recently with two colleagues of mine and JAS Funds is a Forex management company. We are managing Forex accounts on behalf of individuals.
Now, there are some criteria and to qualify, you need be called what's called a "Wholesale Investor" in your own country. To find out what a wholesale investor is, visit our website and I'll put a link below this video. Also, it's JAS Funds, www.jasfunds.com. JAS Funds, you can use leverage because you can use our experience. Our trading knowledge and experience and we can do the trading for you.
Create Passive Income and a Diversified Investment
Again, it's a great way of using leverage. You can have passive income, you can use Forex as an alternative type of investment to the traditional investments. It's really quite independent to most other...]]>260falsefullhttps://www.spreaker.com/episode/214-why-you-should-trade-a-variety-of-time-frame-forex-charts--12231265
Why You Should Trade a Variety of Time Frame Forex Chartsweekly video
In this weekly video:
00:28 – Trading a variety of time frame charts
00:53 – Look to trade 2 or 3 different time frame charts
01:15 – Successful Forex Trader examples
02:25 – Different charts suit different trading conditions
03:00 – It does not mean more chart time
03:50 – A smooth equity curve by trading various charts
04:50 – Consistency and high reward:risk trades
05:12 – Free webinars and free course
I believe it helps you as a Forex trader, if you trade a variety of different time frame charts. So let's talk about that, and more, right now.
Hi Forex traders. Andrew Mitchem here, the Forex Trading Coach. This is video and podcast number 215.
Trading a variety of time frame charts
I'm going to talk about a subject that not many people actually talk about, but it's a really, really important subject. It's about trading a variety of different time frame charts. Most people trade just, probably, one time frame. In fact, most traders and new traders generally trade too short a time frame. Most people would trade five minute charts or fifteen minute charts and it's generally too quick a time frame for most traders. But, that's a subject for another day.
Look to trade 2 or 3 different time frame charts
For today's conversation, and to help you, I strongly believe that if you can trade two or three different time frame charts, then that would definitely help you to basically smooth out your equity curve and to allow for different trading conditions.
Successful Forex Trader examples
To give you an example, I've got a fantastically successful client in the U.S. called Paul. Paul's been with me for a couple of years and he's just having successful trade after successful trade, doing extremely well. On my webinar that I hold for my clients … I hold them every two weeks. Two weeks ago, Paul was on the webinar discussing some of the trades that he'd taken in the two weeks previous to that. On that webinar, he had seven or eight trades that he had taken personally, himself, on the six hour chart time frames.
Yet, on the webinar that I held yesterday, he found only one trade on the six hour time frame charts in the two weeks since that previous webinar. Between four weeks and two weeks ago, he had seven or eight trades and in the last two weeks, he's found only one trade on the six hour charts. However, during that same last two weeks, he had eight trades that he shared on the webinar that he had taken himself on live accounts on the eight hours charts. Two of them were stop out and the other six for profitable trade. That's on the eight hour charts.
Different charts suit different trading conditions
The point I want to make is, because he's trading a variety of different time frame charts … If he had just the six hour charts only, and nothing else, he would have only found one trade in the last two weeks. Yet, because Paul is choosing to trade a variety of different time frame charts, he had only that one of the six hour charts, yet eight he saw on the eight hour charts. He also shared trades that he'd taken on the twelve hour charts, the four hour and the one hour. Of course, myself and almost all of my clients all trade the daily charts.
It does not mean more chart time
So, for me, it's really important to have a variety of different time frame charts. The good thing is it doesn't involve lots and lots of time at your computer and chart watching. The way that I trade is that I only look for a new trade at the completion of a candle or the completion of a bar. You know when that's happening.
The daily charts have just closed at 5:00 p.m. Eastern Standard Time. At the same time,]]>https://theforextradingcoach.com/?p=6846Sun, 19 Feb 2017 22:44:33 +0000Andrew MitchemPodcast: Why You Should Trade a Variety of Time Frame Forex Chartsweekly video In this weekly video: 00:28 – Trading a variety of time frame charts 00:53 – Look to trade 2 or 3 different time frame charts 01:15 – Successful Forex Trader examples...
Why You Should Trade a Variety of Time Frame Forex Chartsweekly video
In this weekly video:
00:28 – Trading a variety of time frame charts
00:53 – Look to trade 2 or 3 different time frame charts
01:15 – Successful Forex Trader examples
02:25 – Different charts suit different trading conditions
03:00 – It does not mean more chart time
03:50 – A smooth equity curve by trading various charts
04:50 – Consistency and high reward:risk trades
05:12 – Free webinars and free course
I believe it helps you as a Forex trader, if you trade a variety of different time frame charts. So let's talk about that, and more, right now.
Hi Forex traders. Andrew Mitchem here, the Forex Trading Coach. This is video and podcast number 215.
Trading a variety of time frame charts
I'm going to talk about a subject that not many people actually talk about, but it's a really, really important subject. It's about trading a variety of different time frame charts. Most people trade just, probably, one time frame. In fact, most traders and new traders generally trade too short a time frame. Most people would trade five minute charts or fifteen minute charts and it's generally too quick a time frame for most traders. But, that's a subject for another day.
Look to trade 2 or 3 different time frame charts
For today's conversation, and to help you, I strongly believe that if you can trade two or three different time frame charts, then that would definitely help you to basically smooth out your equity curve and to allow for different trading conditions.
Successful Forex Trader examples
To give you an example, I've got a fantastically successful client in the U.S. called Paul. Paul's been with me for a couple of years and he's just having successful trade after successful trade, doing extremely well. On my webinar that I hold for my clients … I hold them every two weeks. Two weeks ago, Paul was on the webinar discussing some of the trades that he'd taken in the two weeks previous to that. On that webinar, he had seven or eight trades that he had taken personally, himself, on the six hour chart time frames.
Yet, on the webinar that I held yesterday, he found only one trade on the six hour time frame charts in the two weeks since that previous webinar. Between four weeks and two weeks ago, he had seven or eight trades and in the last two weeks, he's found only one trade on the six hour charts. However, during that same last two weeks, he had eight trades that he shared on the webinar that he had taken himself on live accounts on the eight hours charts. Two of them were stop out and the other six for profitable trade. That's on the eight hour charts.
Different charts suit different trading conditions
The point I want to make is, because he's trading a variety of different time frame charts … If he had just the six hour charts only, and nothing else, he would have only found one trade in the last two weeks. Yet, because Paul is choosing to trade a variety of different time frame charts, he had only that one of the six hour charts, yet eight he saw on the eight hour charts. He also shared trades that he'd taken on the twelve hour charts, the four hour and the one hour. Of course, myself and almost all of my clients all trade the daily charts.
It does not mean more chart time
So, for me, it's really important to have a variety of different time frame charts. The good thing is it doesn't involve lots and lots of time at your computer and chart watching. The way that I trade is that I only look for a new trade at the completion of a candle or the completion of a bar. You know when that's happening.
The daily charts have just closed at 5:00 p.m. Eastern Standard Time. At the same time,]]>340falsefullhttps://www.spreaker.com/episode/213-splitting-your-trade-positions--12231266
Splitting your trade positionsweekly video
In this weekly video:
00:34 – Most people enter at the market
01:00 – Trading the longer time frame charts – look to split your entry orders
02.33 – The keys to trading
03:13 – Taking a part of your position at the market and part at a retracement
04:30 – Entering on a retracement
05:20 – Use these lessons to help your trading
In today's video and podcast. I'm going to explain why I like to split my orders into two or more parts. Let's talk about that right now.
Hi Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach. This is video and podcast number 213. I'm going to be telling you and explaining. Why I prefer to split my positions up into two or more parts.
Most people enter at the market
You see, so many people tend to just see a trade, enter at the market, take the trade and that's it. For me, it's like well, that's okay but there's a better way of doing that. If it's a shorter timeframe chart, let's say it's a one hour chart and below where you want to ride the current momentum of the market, then fine, jumping in straight away at the market is a good idea.
Trading the longer time frame charts – look to split your entry orders
If you're trading a slightly longer timeframe chart, say a four hour chart or six or twelve or daily or weekly, whatever it might be, those longer timeframe charts where you do get retracements and you have a bigger stop loss there for you can allow for the upward and downward movements in the market, when you get those longer timeframe trades and charts that you're trading, they definitely a retracement entry is a great idea.
Well why? What I like about it, number one, you don't have to be at the chart when the candle closes. So if you're not taking a market order that you don't have to be there right at the time that four hour chart closes, let's say. You can come to charts a little bit later and still enter a trade.
The other thing is, if you're taking a retracement order using a sell limit or a buy limit, depending on whether it's a buy or sell trade, then the great thing is that you don't have to be there at your computer at the time that that price is hit because the limit order, the pending order, is stored on your broker's server. You don't even need to be there. I'll give you an example, if I'm trading say like a daily chart, then I'll enter and let's say it's a buy trade, I'll enter when the price gets lower first, but I'm not sitting there waiting for that to happen.
I‘m seeing the trade, I'm saying yeah, I like this trade, I'm entering a buy limit order so when the price retraces and gets lower, it's then filling my buy trade. It means I get in at a lot better price, like a lower price but it also means that my reward to risk on that trade is substantially increased.
The keys to trading
Don't forget that some of the keys to trading apart from low risk money management are high reward to risk trades. It's really important that you have that. You want to be making several times your risk.
When you get a profitable trade and it gets to your full profit target, you need to be making one and a half, two, three, four, sometimes even five to one reward to risk on that trade, depending on the setup of the trade. It's really important that you have the ability to take those high reward to risk trades and by entering part of your position at a better price using those limit orders and retracements is a way that you can really easily do that. Lots of benefits to that.
Taking a part of your position at the market and part at a retracement
I also do like to take part of my position straight away at the market on most trades that I take. Reason being, is let's say you're taking a buy trade and the candle closes near i...]]>https://theforextradingcoach.com/?p=6832Sun, 12 Feb 2017 21:04:12 +0000Andrew MitchemPodcast: Splitting your trade positionsweekly video In this weekly video: 00:34 – Most people enter at the market 01:00 – Trading the longer time frame charts – look to split your entry orders 02.33 – The keys to trading 03:13 – Taking a part...
Splitting your trade positionsweekly video
In this weekly video:
00:34 – Most people enter at the market
01:00 – Trading the longer time frame charts – look to split your entry orders
02.33 – The keys to trading
03:13 – Taking a part of your position at the market and part at a retracement
04:30 – Entering on a retracement
05:20 – Use these lessons to help your trading
In today's video and podcast. I'm going to explain why I like to split my orders into two or more parts. Let's talk about that right now.
Hi Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach. This is video and podcast number 213. I'm going to be telling you and explaining. Why I prefer to split my positions up into two or more parts.
Most people enter at the market
You see, so many people tend to just see a trade, enter at the market, take the trade and that's it. For me, it's like well, that's okay but there's a better way of doing that. If it's a shorter timeframe chart, let's say it's a one hour chart and below where you want to ride the current momentum of the market, then fine, jumping in straight away at the market is a good idea.
Trading the longer time frame charts – look to split your entry orders
If you're trading a slightly longer timeframe chart, say a four hour chart or six or twelve or daily or weekly, whatever it might be, those longer timeframe charts where you do get retracements and you have a bigger stop loss there for you can allow for the upward and downward movements in the market, when you get those longer timeframe trades and charts that you're trading, they definitely a retracement entry is a great idea.
Well why? What I like about it, number one, you don't have to be at the chart when the candle closes. So if you're not taking a market order that you don't have to be there right at the time that four hour chart closes, let's say. You can come to charts a little bit later and still enter a trade.
The other thing is, if you're taking a retracement order using a sell limit or a buy limit, depending on whether it's a buy or sell trade, then the great thing is that you don't have to be there at your computer at the time that that price is hit because the limit order, the pending order, is stored on your broker's server. You don't even need to be there. I'll give you an example, if I'm trading say like a daily chart, then I'll enter and let's say it's a buy trade, I'll enter when the price gets lower first, but I'm not sitting there waiting for that to happen.
I‘m seeing the trade, I'm saying yeah, I like this trade, I'm entering a buy limit order so when the price retraces and gets lower, it's then filling my buy trade. It means I get in at a lot better price, like a lower price but it also means that my reward to risk on that trade is substantially increased.
The keys to trading
Don't forget that some of the keys to trading apart from low risk money management are high reward to risk trades. It's really important that you have that. You want to be making several times your risk.
When you get a profitable trade and it gets to your full profit target, you need to be making one and a half, two, three, four, sometimes even five to one reward to risk on that trade, depending on the setup of the trade. It's really important that you have the ability to take those high reward to risk trades and by entering part of your position at a better price using those limit orders and retracements is a way that you can really easily do that. Lots of benefits to that.
Taking a part of your position at the market and part at a retracement
I also do like to take part of my position straight away at the market on most trades that I take. Reason being, is let's say you're taking a buy trade and the candle closes near i...]]>348falsefullhttps://www.spreaker.com/episode/212-the-daily-charts-are-great-to-trade--12231267
The Daily Charts are great to trade
weekly video
In this weekly video:
00:25 – I’ve traded the Daily charts for the last 12-13 years
00:36 – Trading to make money
01:35 – It doesn’t need to take all day at your computer to be a full time Forex trader
02:10 – Don’t worry about using a big stop loss
03:16 – Reliability increases with the Daily charts
04:46 – Trade less with higher probability trades
I'm going to explain why I love trading the daily charts. Let's get into that right now.
Hi, Forex traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast #212.
I’ve traded the Daily charts for the last 12-13 years
I'm going to explain about the daily charts, why I‘ve traded them for the last 12, 13 years, why they're my favourite time frame charts, why I believe you should have a look at trading them also. Now, let's start with the obvious thing about trading.
Trading to make money
Why we're all trading? Well, I supposed the real reason we're trading is we're making money out of trading. We're looking at making money from our trading.
The aim of trading is not to spend all day trading. It's not an aim to be sat at your computer all day long because what's the point. It's not the end result. The end result is to make money. Now, if you can do that by say trading the daily charts just once a day and it might take you 10 minutes, 20 minutes once a day let's say, then why would you not do that? Why would you want to sit at charts trading say 1 minute or 5-minute time frame charts for hour upon hour upon hour because you got high stress situations.
To me, the aim of course is to make money and if you can do it by taking not a lot of time out of your day, then that helps even better.
It doesn’t need to take all day at your computer to be a full time Forex trader
Not everybody wants to be what you call full-time trading as in like sitting and trading all day. I'm a full-time trader but I don't sit trading all day. With the coaching, I'm helping people as well but the daily time frames allows that.
Whether you're doing other work, whether you're tired, whether you've got kids, whether you've got other work to do, whatever it might be, by having the ability to trade for say, just a shorter time frame, a short amount of time per day, then that really has to help and of course, it is profitable also then that really makes it worthwhile.
Don’t worry about using a big stop loss
You've got little time taken, great trades, low stress, high reward to risk trades. Don't worry about the stop loss. A lot of people come to me and they go, "Hey, Andrew, you keep talking about daily time frame charts, how can I trade daily time frames because I can't afford an 80 pip stop loss," let's say. That's where you need to think differently. Everybody can afford an 80 pip stop loss or a 100 pip stop loss whatever it needs to be. It's just that you need to reduce your position size.
Don't just think I'm taking a 0.1 lot or a one standard lot because I do that on every trade and therefore, if I lose on a daily chart trade, it's a massive loss. It's not. Every trade that you take should have equal risks, equal percentage risks. For instance, the way I trade and the way I teach, if I have a losing trade, I lose half of 1% of my account. It doesn't matter whether it was daily chart trade or a weekly or a five-minute chart trade. It's the same. Half of 1% is still half of 1% regardless of the stop loss of the trade. It's just the position size that gets adjusted.
Reliability increases with the Daily charts
Reliability comes also with daily time frame charts. I'll give you an example. Say, today, I'm trading a short position on the British pound/Australian dollar. Why? Well,]]>http://theforextradingcoach.com/?p=6815Sun, 05 Feb 2017 22:43:17 +0000Andrew MitchemPodcast: The Daily Charts are great to trade weekly video In this weekly video: 00:25 – I’ve traded the Daily charts for the last 12-13 years 00:36 – Trading to make money 01:35 – It doesn’t need to take all day at your computer to be a full time...
The Daily Charts are great to trade
weekly video
In this weekly video:
00:25 – I’ve traded the Daily charts for the last 12-13 years
00:36 – Trading to make money
01:35 – It doesn’t need to take all day at your computer to be a full time Forex trader
02:10 – Don’t worry about using a big stop loss
03:16 – Reliability increases with the Daily charts
04:46 – Trade less with higher probability trades
I'm going to explain why I love trading the daily charts. Let's get into that right now.
Hi, Forex traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast #212.
I’ve traded the Daily charts for the last 12-13 years
I'm going to explain about the daily charts, why I‘ve traded them for the last 12, 13 years, why they're my favourite time frame charts, why I believe you should have a look at trading them also. Now, let's start with the obvious thing about trading.
Trading to make money
Why we're all trading? Well, I supposed the real reason we're trading is we're making money out of trading. We're looking at making money from our trading.
The aim of trading is not to spend all day trading. It's not an aim to be sat at your computer all day long because what's the point. It's not the end result. The end result is to make money. Now, if you can do that by say trading the daily charts just once a day and it might take you 10 minutes, 20 minutes once a day let's say, then why would you not do that? Why would you want to sit at charts trading say 1 minute or 5-minute time frame charts for hour upon hour upon hour because you got high stress situations.
To me, the aim of course is to make money and if you can do it by taking not a lot of time out of your day, then that helps even better.
It doesn’t need to take all day at your computer to be a full time Forex trader
Not everybody wants to be what you call full-time trading as in like sitting and trading all day. I'm a full-time trader but I don't sit trading all day. With the coaching, I'm helping people as well but the daily time frames allows that.
Whether you're doing other work, whether you're tired, whether you've got kids, whether you've got other work to do, whatever it might be, by having the ability to trade for say, just a shorter time frame, a short amount of time per day, then that really has to help and of course, it is profitable also then that really makes it worthwhile.
Don’t worry about using a big stop loss
You've got little time taken, great trades, low stress, high reward to risk trades. Don't worry about the stop loss. A lot of people come to me and they go, "Hey, Andrew, you keep talking about daily time frame charts, how can I trade daily time frames because I can't afford an 80 pip stop loss," let's say. That's where you need to think differently. Everybody can afford an 80 pip stop loss or a 100 pip stop loss whatever it needs to be. It's just that you need to reduce your position size.
Don't just think I'm taking a 0.1 lot or a one standard lot because I do that on every trade and therefore, if I lose on a daily chart trade, it's a massive loss. It's not. Every trade that you take should have equal risks, equal percentage risks. For instance, the way I trade and the way I teach, if I have a losing trade, I lose half of 1% of my account. It doesn't matter whether it was daily chart trade or a weekly or a five-minute chart trade. It's the same. Half of 1% is still half of 1% regardless of the stop loss of the trade. It's just the position size that gets adjusted.
Reliability increases with the Daily charts
Reliability comes also with daily time frame charts. I'll give you an example. Say, today, I'm trading a short position on the British pound/Australian dollar. Why? Well,]]>345falsefullhttps://www.spreaker.com/episode/211-why-learning-how-to-trade-is-so-important--12231269
Why learning HOW to trade is so important
In this video:
00:24 – You need to learn HOW to trade first
00:56 – Getting squash lessons
02:52 – Investing in your yourself through training and coaching
04:05 – Long term investment in your future
04:28 – I’ve been teaching traders worldwide since 2009
05:06 – Three important letters “HOW”
Let's talk about why learning "HOW" to trade is so important. Let's get into that right now.
Hi Forex Traders! Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 211.
You need to learn HOW to trade first
I'm going to talk about something really important. It's all about the importance of learning how to trade. It's that there's so many parts of trading, but unless you actually learn the how to bit, get that bit right, the how to trade. It's an important little word because if you get that right things will be great. If you get it wrong, then you can have all the systems, the accounts, everything, but it will not work for you. Let's explain a little bit more.
Getting squash lessons
To give you an example, just this week I've taken up learning how to play squash. I used to play about 20 years ago when I didn't have grey hair. I'm looking at something to do that's going to help keep me fit and something that I haven't done for awhile and I thought, "I'd love to get back into some squash." What did I do? First thing I did is I went along to a club and I had a chat with them, worked out what the membership was going to cost me for the year.
Then I thought, "Actually, I need to get to be taught how to play." Again, it's the "How To". Get that bit right. The learning with a mentor, with a squash coach, is actually going to cost me more money than the annual membership of a really good local club. Some people might just think that's absolutely crazy and think that's ridiculous. Why would you just pay someone to do that when you can just get out there, and get a ball and a racket, and hit away, and off you go?
Yes, I could do that, but of course I'm probably not going to progress very far and I'm going to end up getting frustrated because my skill level will be just about the same. It may improve a bit. It may go backwards. Who knows, but it's not going to give me what I really want. To me, investing in someone to help teach me to look at what I'm doing right, what I'm doing wrong, a coach in squash is such a valuable investment because I'm investing in me. I'm investing in my overall enjoyment of the game. Probably going to get myself far better results. Therefore get high rankings, play against better people, progress. All those sort of things. That's what I'm after from it.
I'm trying to do it at the very beginning. I don't want to come in with lots of bad habits and then someone's gotta unfix all those bad habits and break all those habits that I've got into.
Investing in your yourself through training and coaching
To me, upfront, I'm looking at investing in training and coaching. Trading Forex is absolutely no different. You see people will come to me and they go, "Andrew, how long's it going to take me to pay off your course if I've got a thousand dollar account?" To me it's like, it's almost like it's not relevant. Don't take that the wrong way, but take it and think of it, don't get offended by that comment. Think of it a different way. Turn it right around.
You could have a million dollars in your trading account, but if you don't know how to trade, if you don't know what you're doing, you're going to lose some money on that account. Likewise, if you've got a thousand dollars in your account and you go, "Why would I want to go and spend fifteen hundred, two thousand dollars on a coaching course when I've only got ...]]>http://theforextradingcoach.com/?p=6804Sun, 29 Jan 2017 23:01:47 +0000Andrew MitchemPodcast: Why learning HOW to trade is so important In this video: 00:24 – You need to learn HOW to trade first 00:56 – Getting squash lessons 02:52 – Investing in your yourself through training and coaching 04:05 – Long term investment in your...
Why learning HOW to trade is so important
In this video:
00:24 – You need to learn HOW to trade first
00:56 – Getting squash lessons
02:52 – Investing in your yourself through training and coaching
04:05 – Long term investment in your future
04:28 – I’ve been teaching traders worldwide since 2009
05:06 – Three important letters “HOW”
Let's talk about why learning "HOW" to trade is so important. Let's get into that right now.
Hi Forex Traders! Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 211.
You need to learn HOW to trade first
I'm going to talk about something really important. It's all about the importance of learning how to trade. It's that there's so many parts of trading, but unless you actually learn the how to bit, get that bit right, the how to trade. It's an important little word because if you get that right things will be great. If you get it wrong, then you can have all the systems, the accounts, everything, but it will not work for you. Let's explain a little bit more.
Getting squash lessons
To give you an example, just this week I've taken up learning how to play squash. I used to play about 20 years ago when I didn't have grey hair. I'm looking at something to do that's going to help keep me fit and something that I haven't done for awhile and I thought, "I'd love to get back into some squash." What did I do? First thing I did is I went along to a club and I had a chat with them, worked out what the membership was going to cost me for the year.
Then I thought, "Actually, I need to get to be taught how to play." Again, it's the "How To". Get that bit right. The learning with a mentor, with a squash coach, is actually going to cost me more money than the annual membership of a really good local club. Some people might just think that's absolutely crazy and think that's ridiculous. Why would you just pay someone to do that when you can just get out there, and get a ball and a racket, and hit away, and off you go?
Yes, I could do that, but of course I'm probably not going to progress very far and I'm going to end up getting frustrated because my skill level will be just about the same. It may improve a bit. It may go backwards. Who knows, but it's not going to give me what I really want. To me, investing in someone to help teach me to look at what I'm doing right, what I'm doing wrong, a coach in squash is such a valuable investment because I'm investing in me. I'm investing in my overall enjoyment of the game. Probably going to get myself far better results. Therefore get high rankings, play against better people, progress. All those sort of things. That's what I'm after from it.
I'm trying to do it at the very beginning. I don't want to come in with lots of bad habits and then someone's gotta unfix all those bad habits and break all those habits that I've got into.
Investing in your yourself through training and coaching
To me, upfront, I'm looking at investing in training and coaching. Trading Forex is absolutely no different. You see people will come to me and they go, "Andrew, how long's it going to take me to pay off your course if I've got a thousand dollar account?" To me it's like, it's almost like it's not relevant. Don't take that the wrong way, but take it and think of it, don't get offended by that comment. Think of it a different way. Turn it right around.
You could have a million dollars in your trading account, but if you don't know how to trade, if you don't know what you're doing, you're going to lose some money on that account. Likewise, if you've got a thousand dollars in your account and you go, "Why would I want to go and spend fifteen hundred, two thousand dollars on a coaching course when I've only got ...]]>342falsefullhttps://www.spreaker.com/episode/210-the-7-most-important-points-to-becoming-a-successful-forex-trader--12231268
The 7 Most Important Points To Becoming A Successful Forex Trader
In this video:
00:28 – My 7 top tips to be a successful Forex trader
00:43 – #1 – You must have a passion for trading Forex
01:26 – #2 – You must have a strategy that works for you
02:18 – #3 – A low risk money management trading approach
02:56 – #4 – Learn how to trade first
04:25 – #5 – Be level headed and be consistent
05:06 – #6 – Seek on-going support and mentorship – Keep improving yourself
06:07 – #7 – Don’t be fooled by lagging indicators
06:35 – Get all 7 points working and you’ll become a good Forex trader
Andrew Mitchem: In this video and podcast, I'm going to explain to you the seven really important points that you need to understand and have implemented in order to be a successful Forex trader. Let's get into it straight away.
Hi, Forex traders. Andrew Mitchem here, the owner of The Forex Trading Coach. Today is video and podcast number 210.
My 7 top tips to be a successful Forex trader
And this is a really, really important lesson for you to get, and to understand, and to implement in your trading. I'm going to give you my 7 top tips to be a successful Forex trader so let's get into it, shall we?
#1 – You must have a passion for trading Forex
Number one, you must regardless of all other things, you have to have a love of trading, a passion for it. I'd be trading for 13 years. I still have passion for it. Every morning I wake up, I want to go and have a look at my charts, see how the trades are going. A lot of people after that length of time in anything get quite bored. You see, most people of course get to Friday night, they can't wait for the weekend to come. For me, it's the opposite. I can't wait for Monday and the charts to open, the markets to open again so I can get trading again. You got to have a passion for it. There's no good in even if you're making money out of your trading if you hate doing it or you're really bored by it. You got to have a passion. It's a really important point number one regardless of what you do in life. Enjoy it and have a passion.
#2 – You must have a strategy that works for you
Number two, you have to of course have a strategy that works for you, something that suits you. It doesn't matter whether you're a technical trader, or a fundamental trader, or a combination of both. Whatever it is, have something that works for you, something that doesn't take all day and night to do. What's the point in having a really good system that's making you a lot of money but you're sitting there for 12, 14 hours a day glued to your charts? That's just no fun at all. Life is far too important and you need to have too much … You should be having lots of fun and not spending too much time at your charts. For me, it's important to have something that I can trade for only a short amount of time per day but does very, very well, and I think that's important for longevity and enjoyment out of your trading. Make sure you find out what works for you, what suits your style and your personality as a person and as a trader.
#3 – A low risk money management trading approach
The third thing you need to use and to understand correctly is a low risk money management approach. You see, you can have the best trading system on the planet but if you don't have low risk in your approach and high rewards risk trades, then what you generally do is lose money. You can have a 90% winning system but still lose money. You can also get heavily influenced by emotions, and greed, and fear, et cetera if you're risking too much on a trade. That takes you away from your trading plan. Keep your risk really low for trade. I suggest no more than half of 1% the trade.
#4 – Learn how to trade first
The fourth thing.]]>http://theforextradingcoach.com/?p=6795Sun, 22 Jan 2017 21:06:34 +0000Andrew MitchemPodcast: The 7 Most Important Points To Becoming A Successful Forex Trader In this video: 00:28 – My 7 top tips to be a successful Forex trader 00:43 – #1 – You must have a passion for trading Forex 01:26 – #2 – You must have a strategy that...
The 7 Most Important Points To Becoming A Successful Forex Trader
In this video:
00:28 – My 7 top tips to be a successful Forex trader
00:43 – #1 – You must have a passion for trading Forex
01:26 – #2 – You must have a strategy that works for you
02:18 – #3 – A low risk money management trading approach
02:56 – #4 – Learn how to trade first
04:25 – #5 – Be level headed and be consistent
05:06 – #6 – Seek on-going support and mentorship – Keep improving yourself
06:07 – #7 – Don’t be fooled by lagging indicators
06:35 – Get all 7 points working and you’ll become a good Forex trader
Andrew Mitchem: In this video and podcast, I'm going to explain to you the seven really important points that you need to understand and have implemented in order to be a successful Forex trader. Let's get into it straight away.
Hi, Forex traders. Andrew Mitchem here, the owner of The Forex Trading Coach. Today is video and podcast number 210.
My 7 top tips to be a successful Forex trader
And this is a really, really important lesson for you to get, and to understand, and to implement in your trading. I'm going to give you my 7 top tips to be a successful Forex trader so let's get into it, shall we?
#1 – You must have a passion for trading Forex
Number one, you must regardless of all other things, you have to have a love of trading, a passion for it. I'd be trading for 13 years. I still have passion for it. Every morning I wake up, I want to go and have a look at my charts, see how the trades are going. A lot of people after that length of time in anything get quite bored. You see, most people of course get to Friday night, they can't wait for the weekend to come. For me, it's the opposite. I can't wait for Monday and the charts to open, the markets to open again so I can get trading again. You got to have a passion for it. There's no good in even if you're making money out of your trading if you hate doing it or you're really bored by it. You got to have a passion. It's a really important point number one regardless of what you do in life. Enjoy it and have a passion.
#2 – You must have a strategy that works for you
Number two, you have to of course have a strategy that works for you, something that suits you. It doesn't matter whether you're a technical trader, or a fundamental trader, or a combination of both. Whatever it is, have something that works for you, something that doesn't take all day and night to do. What's the point in having a really good system that's making you a lot of money but you're sitting there for 12, 14 hours a day glued to your charts? That's just no fun at all. Life is far too important and you need to have too much … You should be having lots of fun and not spending too much time at your charts. For me, it's important to have something that I can trade for only a short amount of time per day but does very, very well, and I think that's important for longevity and enjoyment out of your trading. Make sure you find out what works for you, what suits your style and your personality as a person and as a trader.
#3 – A low risk money management trading approach
The third thing you need to use and to understand correctly is a low risk money management approach. You see, you can have the best trading system on the planet but if you don't have low risk in your approach and high rewards risk trades, then what you generally do is lose money. You can have a 90% winning system but still lose money. You can also get heavily influenced by emotions, and greed, and fear, et cetera if you're risking too much on a trade. That takes you away from your trading plan. Keep your risk really low for trade. I suggest no more than half of 1% the trade.
#4 – Learn how to trade first
The fourth thing.]]>414falsefullhttps://www.spreaker.com/episode/209-do-you-have-your-trading-year-planned-out--12231270
Do You Have Your Trading Year Planned Out?
In this video:
00:45 – Making sure you have 2017 planned now
01:48 – Trading Goals – What are your goals?
02:15 – 2 recent examples to help you
04:10 – Make your trading realistic to do – what makes my course successful
07:05 – Write down your goals now
Have you got your trading year planned or not? Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 209 and the first video and podcast for January of 2017.
Welcome back. I hope you've had a wonderful Christmas and New Year break. I know I've certainly had a great time. Summertime this part of the world here in New Zealand and we've had a great few weeks off trading doing lots of things, family things, flying, swimming, et cetera, doing all sorts of really cool things, but now back into trading.
Making sure you have 2017 planned now
What I wanted to talk about today was making sure that right now at the beginning of January you have your 2017 planned because we all know how quickly time disappears and, all of a sudden, it's the next weekend, then next weekend, then it's halfway through the year. It can disappear on you really quickly. My suggestion is that you start right now today. As soon as you're listening, or watching this video or podcast, get a pen and paper and write down right now all the important things that you want to achieve both trading and personal in 2017. Do it now. Write it down. Grab a pen and paper. Stick it on your wall next to your computer and look at it all the time. Then ask yourself each day: what am I doing today to help knock off some of these goals, to achieve some of these goals, personal goals and/or trading goals?
I can't really help you so much with the personal ones apart from I can honestly say that if you have a goals list, and you look at it, and you try and achieve it, you do achieve them, and it's amazing how much of that list you do get through.
Trading Goals – What are your goals?
Trading goals, I can definitely help you with. You need to decide a few things like what type of trader are you, what timeframe charts do you want to trade, what pairs, what directions? Is it continuation, reversal patterns? Do you want to trade the news? Do you want to trade technicals? How many hours a day do you want to trade? Do you want to trade maybe just a few times a week? What is it that realistically suits you? It's really important to get the part of what suits you and make it real.
2 recent examples to help you
I'll give you a couple of examples. Just today I've had two emails come through my inbox this morning, two different people. One of them said, "Hey, Andrew. Look, I've enrolled in a course and it's all about volume. It's about trading volume in Forex." They're just questioning how that can be. I said, "Well, from what I understand, that volumes are really hard to me in the Forex market because, of course, there's so many different brokers, different feeds, et cetera, coming in." You can't really truly measure volume in a Forex market and this person was not happy with the course they bought. They said it's just not working for them.
The other person wrote to me and said, "I've also started a course. I'm just finding it really complicated. It just revolves around being involved, watching charts all the time, waiting for certain things to happen." They said they're just finding it crazy that in the last month they've been looking at this course, and it's just taking up so much time.
The other thing that was really interesting, which I don't agree with, is they said that as part of a course they were told to use backtesting information and go and review trade setups using lots of backt...]]>http://theforextradingcoach.com/?p=6783Sun, 15 Jan 2017 22:31:33 +0000Andrew MitchemPodcast: Do You Have Your Trading Year Planned Out? In this video: 00:45 – Making sure you have 2017 planned now 01:48 – Trading Goals – What are your goals? 02:15 – 2 recent examples to help you 04:10 – Make your trading realistic to do – what...
Do You Have Your Trading Year Planned Out?
In this video:
00:45 – Making sure you have 2017 planned now
01:48 – Trading Goals – What are your goals?
02:15 – 2 recent examples to help you
04:10 – Make your trading realistic to do – what makes my course successful
07:05 – Write down your goals now
Have you got your trading year planned or not? Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 209 and the first video and podcast for January of 2017.
Welcome back. I hope you've had a wonderful Christmas and New Year break. I know I've certainly had a great time. Summertime this part of the world here in New Zealand and we've had a great few weeks off trading doing lots of things, family things, flying, swimming, et cetera, doing all sorts of really cool things, but now back into trading.
Making sure you have 2017 planned now
What I wanted to talk about today was making sure that right now at the beginning of January you have your 2017 planned because we all know how quickly time disappears and, all of a sudden, it's the next weekend, then next weekend, then it's halfway through the year. It can disappear on you really quickly. My suggestion is that you start right now today. As soon as you're listening, or watching this video or podcast, get a pen and paper and write down right now all the important things that you want to achieve both trading and personal in 2017. Do it now. Write it down. Grab a pen and paper. Stick it on your wall next to your computer and look at it all the time. Then ask yourself each day: what am I doing today to help knock off some of these goals, to achieve some of these goals, personal goals and/or trading goals?
I can't really help you so much with the personal ones apart from I can honestly say that if you have a goals list, and you look at it, and you try and achieve it, you do achieve them, and it's amazing how much of that list you do get through.
Trading Goals – What are your goals?
Trading goals, I can definitely help you with. You need to decide a few things like what type of trader are you, what timeframe charts do you want to trade, what pairs, what directions? Is it continuation, reversal patterns? Do you want to trade the news? Do you want to trade technicals? How many hours a day do you want to trade? Do you want to trade maybe just a few times a week? What is it that realistically suits you? It's really important to get the part of what suits you and make it real.
2 recent examples to help you
I'll give you a couple of examples. Just today I've had two emails come through my inbox this morning, two different people. One of them said, "Hey, Andrew. Look, I've enrolled in a course and it's all about volume. It's about trading volume in Forex." They're just questioning how that can be. I said, "Well, from what I understand, that volumes are really hard to me in the Forex market because, of course, there's so many different brokers, different feeds, et cetera, coming in." You can't really truly measure volume in a Forex market and this person was not happy with the course they bought. They said it's just not working for them.
The other person wrote to me and said, "I've also started a course. I'm just finding it really complicated. It just revolves around being involved, watching charts all the time, waiting for certain things to happen." They said they're just finding it crazy that in the last month they've been looking at this course, and it's just taking up so much time.
The other thing that was really interesting, which I don't agree with, is they said that as part of a course they were told to use backtesting information and go and review trade setups using lots of backt...]]>450falsefullhttps://www.spreaker.com/episode/208-how-long-should-you-leave-trades-open--12231272
How Long Should You Leave Trades Open?
In this video:
00:22 – Last video and podcast for 2016
00:35 – Trader asks about leaving trades open overnight
01:45 – Other markets often have opening gaps
02:45 – News announcements don’t often create gaps in the FX market
03:55 – Daily trades have made clients +35% account gain this year with low risk
04:40 – Client makes +27% gain since June with a 3% drawdown
05:30 – Spend some time to review your trades
06:05 – I start trading again on Monday 9th January 2017
06:40 – Thanks for watching and listening to my weekly videos
How long should you leave your trades open in the market? Let's talk about that and more right now.
Hello Forex traders, it's Andrew Mitchem here, The Forex Trading Coach. Today this is video and podcast #208.
Last video and podcast for 2016
It's the last video on podcast for the year of 2016. What an amazingly quick year it has been, but more about that shortly.
Trader asks about leaving trades open overnight
The subject of today, and it comes about as a result of an email I had from a follower of mine on Forex Peace Army, a guy called Ray. Ray said, "Andrew, I love your podcast. Can you do one about the possibility of an overnight gap jumping right past your stop-loss? What's the possibility of a flash crash while you are sleeping? How do you deal with that? Is Forex more immune to this than other markets?"
Ray goes on to say that he used to trade futures where gaps were always a possibility. How do I trade the longer time frame charts? The great news is Ray is that the Forex market doesn't really have gaps, being a 24 hour market from its open to it's close; you don't really get gaps. You can occasionally get a gap from the market closing at the end of the week until the beginning of the next week, and that can sometimes happen. It generally doesn't become an issue for most people the way that they trade. If you're trading a longer time frame charts then the gaps generally, if you leave your trades open over the weekend, don't become too big of an issue. If you're trading shorter time frame charts, so for me anything from a daily chart and lower, I always close them at the end of the week or before the end of the week anyway. If we get a gap open at the beginning of the next week, it's not really a big deal.
Other markets often have opening gaps
What you're referring to, Ray, being a futures trader or a previous futures trader, is that you get gaps of say between the market opening and the marketing closing on most of those other markets you look at commodities et cetera. Most Forex brokers now offer far more options available to us, different markets, than just the currency markets like they used to. You can trade things like coffee and soy and different markets as well on most Forex brokers. When you look at those, they are largely dependent around the market times that they open and close and they're certainly not 24 hour markets, most of them. Most of them are dependent on the US. If you're not in the US then they become really difficult markets to trade.
For me over here in New Zealand, most of those US markets open somewhere between two and four o'clock in the morning, and I certainly don't want to be up looking at charts at that time of the day, but you do get gaps on those markets.
News announcements don’t often create gaps in the FX market
Even in the Forex market when you get news announcements and the announcement's massively better or worse than expected and you get some decent price action, very rarely do you actually get gaps in the market.
Ray, to answer your question, to leave your trades … when you say overnight, it depends again where you live in the world.]]>http://theforextradingcoach.com/?p=6772Tue, 20 Dec 2016 00:47:42 +0000Andrew MitchemPodcast: How Long Should You Leave Trades Open? In this video: 00:22 – Last video and podcast for 2016 00:35 – Trader asks about leaving trades open overnight 01:45 – Other markets often have opening gaps 02:45 – News announcements don’t often...
How Long Should You Leave Trades Open?
In this video:
00:22 – Last video and podcast for 2016
00:35 – Trader asks about leaving trades open overnight
01:45 – Other markets often have opening gaps
02:45 – News announcements don’t often create gaps in the FX market
03:55 – Daily trades have made clients +35% account gain this year with low risk
04:40 – Client makes +27% gain since June with a 3% drawdown
05:30 – Spend some time to review your trades
06:05 – I start trading again on Monday 9th January 2017
06:40 – Thanks for watching and listening to my weekly videos
How long should you leave your trades open in the market? Let's talk about that and more right now.
Hello Forex traders, it's Andrew Mitchem here, The Forex Trading Coach. Today this is video and podcast #208.
Last video and podcast for 2016
It's the last video on podcast for the year of 2016. What an amazingly quick year it has been, but more about that shortly.
Trader asks about leaving trades open overnight
The subject of today, and it comes about as a result of an email I had from a follower of mine on Forex Peace Army, a guy called Ray. Ray said, "Andrew, I love your podcast. Can you do one about the possibility of an overnight gap jumping right past your stop-loss? What's the possibility of a flash crash while you are sleeping? How do you deal with that? Is Forex more immune to this than other markets?"
Ray goes on to say that he used to trade futures where gaps were always a possibility. How do I trade the longer time frame charts? The great news is Ray is that the Forex market doesn't really have gaps, being a 24 hour market from its open to it's close; you don't really get gaps. You can occasionally get a gap from the market closing at the end of the week until the beginning of the next week, and that can sometimes happen. It generally doesn't become an issue for most people the way that they trade. If you're trading a longer time frame charts then the gaps generally, if you leave your trades open over the weekend, don't become too big of an issue. If you're trading shorter time frame charts, so for me anything from a daily chart and lower, I always close them at the end of the week or before the end of the week anyway. If we get a gap open at the beginning of the next week, it's not really a big deal.
Other markets often have opening gaps
What you're referring to, Ray, being a futures trader or a previous futures trader, is that you get gaps of say between the market opening and the marketing closing on most of those other markets you look at commodities et cetera. Most Forex brokers now offer far more options available to us, different markets, than just the currency markets like they used to. You can trade things like coffee and soy and different markets as well on most Forex brokers. When you look at those, they are largely dependent around the market times that they open and close and they're certainly not 24 hour markets, most of them. Most of them are dependent on the US. If you're not in the US then they become really difficult markets to trade.
For me over here in New Zealand, most of those US markets open somewhere between two and four o'clock in the morning, and I certainly don't want to be up looking at charts at that time of the day, but you do get gaps on those markets.
News announcements don’t often create gaps in the FX market
Even in the Forex market when you get news announcements and the announcement's massively better or worse than expected and you get some decent price action, very rarely do you actually get gaps in the market.
Ray, to answer your question, to leave your trades … when you say overnight, it depends again where you live in the world.]]>455falsefullhttps://www.spreaker.com/episode/207-good-forex-trading-does-not-need-to-be-complicated--12231273
Good Forex Trading Does Not Need To Be Complicated
In this video:
00:27 – Traders send me their complicated Forex charts
00:58 – Initially you think that the indicators tell you the answer
01:55 – You need to look at the price and remove the clutter
02:57 – Only look to trade upon the completion of a candle
03:30 – Don’t get overwhelmed with news events
04:31 – My Christmas sale is now live – see the link below this video
Good Forex Trading does not need to be complicated. In fact, the more simplified approach you have, the cleaner your charts, probably the better you'll do. Let's talk about that and more right now.
Hi, Forex Traders. Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 207.
Traders send me their complicated Forex charts
I want to talk about an issue that so many people have. You see, people come to me and they show me screenshots of the way they're currently trading. It kind of just blows me away in terms of how difficult people make their trading, and unnecessarily difficult. We've all been there, haven't we? I know when I started trading I was looking at all sorts of different indicators. I was printing out, reading about them. It was just … The indicators were everything.
Initially you think that the indicators tell you the answer
They look really impressive, especially when you're new to trading, and you kind of think that they tell you the answer. Little do you realize that all they've done is made an accumulation of previous price action and plotted it on a graph somewhere, so they all lag time pretty much.
It's a real hard thing to get your head around, especially when you're new to trading because they do look really impressive. You think that your trading needs to be complicated. You think you need lines and arrows and stars and filled in bits all over the place. What you end up over time is realizing that, one, it doesn't work and what you also do is get a headache because you get confusion. You have different charts telling you different things and you really, you get the analysis paralysis, you know what I mean. Just Google complicated Forex charts and it'll be lines and squiggles all over the place.
The problem is that when you have more of these lines and squiggles you can't actually see the real important thing. That's what's happening in the price right now.
You need to look at the price and remove the clutter
Look at the candle patterns, look at the price that they are at. That's the important thing. Get rid of the spaghetti, all the lines and complicated stuff, it doesn't help you, believe me. Start with the basics, look at the price. What's the price telling you? What part of the chart is that in right now? Is that looking like a trend's going to continue? Is it looking like trends are back to reverse? Has it hit a prior support and resistance level? When it the price it's at now, like, a long time ago or more recently, what did it do then? Did it hit that level … Let's say it's in a up trend. Did it hit that level and then continue up? Did it hit that level, form a reversal bar, and then head down again?
Look at what's happening in the market right now. Look at what happened at that same price level a little while ago. Put that together and you'll really help yourself with your trading. You don't need to complicate your chart. Simplify your chart, simplify your trading, simplify your life, it means you will enjoy your trading a whole heap more.
Only look to trade upon the completion of a candle
The other tip that I will give you is make sure that you only look at taking a trade on the completion of a candle. If you're trading a daily chart, for instance, wait until the daily chart closes and then make your analysis.]]>http://theforextradingcoach.com/?p=6745Sun, 11 Dec 2016 21:11:43 +0000Andrew MitchemPodcast: Good Forex Trading Does Not Need To Be Complicated In this video: 00:27 – Traders send me their complicated Forex charts 00:58 – Initially you think that the indicators tell you the answer 01:55 – You need to look at the price and remove...
Good Forex Trading Does Not Need To Be Complicated
In this video:
00:27 – Traders send me their complicated Forex charts
00:58 – Initially you think that the indicators tell you the answer
01:55 – You need to look at the price and remove the clutter
02:57 – Only look to trade upon the completion of a candle
03:30 – Don’t get overwhelmed with news events
04:31 – My Christmas sale is now live – see the link below this video
Good Forex Trading does not need to be complicated. In fact, the more simplified approach you have, the cleaner your charts, probably the better you'll do. Let's talk about that and more right now.
Hi, Forex Traders. Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 207.
Traders send me their complicated Forex charts
I want to talk about an issue that so many people have. You see, people come to me and they show me screenshots of the way they're currently trading. It kind of just blows me away in terms of how difficult people make their trading, and unnecessarily difficult. We've all been there, haven't we? I know when I started trading I was looking at all sorts of different indicators. I was printing out, reading about them. It was just … The indicators were everything.
Initially you think that the indicators tell you the answer
They look really impressive, especially when you're new to trading, and you kind of think that they tell you the answer. Little do you realize that all they've done is made an accumulation of previous price action and plotted it on a graph somewhere, so they all lag time pretty much.
It's a real hard thing to get your head around, especially when you're new to trading because they do look really impressive. You think that your trading needs to be complicated. You think you need lines and arrows and stars and filled in bits all over the place. What you end up over time is realizing that, one, it doesn't work and what you also do is get a headache because you get confusion. You have different charts telling you different things and you really, you get the analysis paralysis, you know what I mean. Just Google complicated Forex charts and it'll be lines and squiggles all over the place.
The problem is that when you have more of these lines and squiggles you can't actually see the real important thing. That's what's happening in the price right now.
You need to look at the price and remove the clutter
Look at the candle patterns, look at the price that they are at. That's the important thing. Get rid of the spaghetti, all the lines and complicated stuff, it doesn't help you, believe me. Start with the basics, look at the price. What's the price telling you? What part of the chart is that in right now? Is that looking like a trend's going to continue? Is it looking like trends are back to reverse? Has it hit a prior support and resistance level? When it the price it's at now, like, a long time ago or more recently, what did it do then? Did it hit that level … Let's say it's in a up trend. Did it hit that level and then continue up? Did it hit that level, form a reversal bar, and then head down again?
Look at what's happening in the market right now. Look at what happened at that same price level a little while ago. Put that together and you'll really help yourself with your trading. You don't need to complicate your chart. Simplify your chart, simplify your trading, simplify your life, it means you will enjoy your trading a whole heap more.
Only look to trade upon the completion of a candle
The other tip that I will give you is make sure that you only look at taking a trade on the completion of a candle. If you're trading a daily chart, for instance, wait until the daily chart closes and then make your analysis.]]>323falsefullhttps://www.spreaker.com/episode/206-why-quitters-will-never-win--12231274
Why Quitters Will Never Win
In this video:
00:31 – A true sporting story showing why you should never quit
02:05 – It shows the power of the mind – both belief and doubt
02:45 – It’s no different as a Forex trader – don’t quit if it’s something you really want to do
03:45 – Stick at it and follow the basics
04:30 – Christmas sale 12th – 16th December
I want to talk about why quitters will never win, so let's talk about that and lots more right now.
Hi, forex traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 206. I want to talk about a subject and tell you a story that happened this week. I want to talk about why quitters will never, ever win.
A true sporting story showing why you should never quit
I'm a big cricket fan, so let me start by saying if you're in the US and you don't know what cricket is, just imagine it's like baseball, as an example. If you do know what cricket is, fantastic. You'll understand the story.
This week, I went to watch New Zealand play Pakistan in Hamilton, my local cricket ground. As I mentioned, I'm a huge cricket fan, and I'm a big New Zealand cricket fan. On the last day, New Zealand needed to bowl Pakistan out to win the game, and Pakistan also had a chance of winning so there could've been a win to Pakistan, a win to New Zealand, or a draw. All three options were definitely on by the last day of the game. However, by the T Break, New Zealand had taken only one out of the 10 Pakistan wickets and Pakistan were on the way to potentially winning the game.
At that stage it would've been very, very easy for New Zealand to quit, but they didn't. They stuck out their game plan and in a dramatic last session in the afternoon, New Zealand took the further nine wickets and won the game. It was an absolute thrilling, amazing game. Whatever sport you're interested in, you just imagine when you have that complete reversal and that comeback from behind sort of situation. The thing was, we never ever quit. We didn't give up, and spirits for a lot of teams at that stage, at the T Break, would've been quite low, I would imagine, but we kept going, kept going. All the conditions were in Pakistan's favor, really, but we just kept going, kept at it.
It shows the power of the mind – both belief and doubt
And it shows also the power of the mind, because as soon as we took the second wicket, we then started getting even more confidence and trying even harder, and as Pakistan started to fail then the self-doubt came into it and they then crumbled and we excelled. Completely opposite to the previous five hours of play on that day.
Amazing result for New Zealand cricket, but it showed me how quitters never win. We kept at it, kept going, and in the end we won and had an outstanding victory. Exactly the same as a forex trader.
It’s no different as a Forex trader – don’t quit if it’s something you really want to do
You know, I've had people come to me who have been trying to trade various markets, not just forex, for 10 years. They've come to me and said, "Look, I need to make this work. I want to make this work, but I've not quit," and this particular person who I'm thinking of is now one of my very best clients. He's doing extremely well, but I've got a number of people like that and when you find the people who end up being the most successful and the most profitable, not always do they start the best and it's a very common occurrence.
The people who jump in and go, "Yeah, I want to do this and I'm going to double my count and make a fortune." They generally don't make it very far because there will be something that will happen, the next shiny object or something will happen, the trades won't work out quite so well as they planned,]]>http://theforextradingcoach.com/?p=6734Sun, 04 Dec 2016 22:37:06 +0000Andrew MitchemPodcast: Why Quitters Will Never Win In this video: 00:31 – A true sporting story showing why you should never quit 02:05 – It shows the power of the mind – both belief and doubt 02:45 – It’s no different as a Forex trader – don’t quit if it’s...
Why Quitters Will Never Win
In this video:
00:31 – A true sporting story showing why you should never quit
02:05 – It shows the power of the mind – both belief and doubt
02:45 – It’s no different as a Forex trader – don’t quit if it’s something you really want to do
03:45 – Stick at it and follow the basics
04:30 – Christmas sale 12th – 16th December
I want to talk about why quitters will never win, so let's talk about that and lots more right now.
Hi, forex traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 206. I want to talk about a subject and tell you a story that happened this week. I want to talk about why quitters will never, ever win.
A true sporting story showing why you should never quit
I'm a big cricket fan, so let me start by saying if you're in the US and you don't know what cricket is, just imagine it's like baseball, as an example. If you do know what cricket is, fantastic. You'll understand the story.
This week, I went to watch New Zealand play Pakistan in Hamilton, my local cricket ground. As I mentioned, I'm a huge cricket fan, and I'm a big New Zealand cricket fan. On the last day, New Zealand needed to bowl Pakistan out to win the game, and Pakistan also had a chance of winning so there could've been a win to Pakistan, a win to New Zealand, or a draw. All three options were definitely on by the last day of the game. However, by the T Break, New Zealand had taken only one out of the 10 Pakistan wickets and Pakistan were on the way to potentially winning the game.
At that stage it would've been very, very easy for New Zealand to quit, but they didn't. They stuck out their game plan and in a dramatic last session in the afternoon, New Zealand took the further nine wickets and won the game. It was an absolute thrilling, amazing game. Whatever sport you're interested in, you just imagine when you have that complete reversal and that comeback from behind sort of situation. The thing was, we never ever quit. We didn't give up, and spirits for a lot of teams at that stage, at the T Break, would've been quite low, I would imagine, but we kept going, kept going. All the conditions were in Pakistan's favor, really, but we just kept going, kept at it.
It shows the power of the mind – both belief and doubt
And it shows also the power of the mind, because as soon as we took the second wicket, we then started getting even more confidence and trying even harder, and as Pakistan started to fail then the self-doubt came into it and they then crumbled and we excelled. Completely opposite to the previous five hours of play on that day.
Amazing result for New Zealand cricket, but it showed me how quitters never win. We kept at it, kept going, and in the end we won and had an outstanding victory. Exactly the same as a forex trader.
It’s no different as a Forex trader – don’t quit if it’s something you really want to do
You know, I've had people come to me who have been trying to trade various markets, not just forex, for 10 years. They've come to me and said, "Look, I need to make this work. I want to make this work, but I've not quit," and this particular person who I'm thinking of is now one of my very best clients. He's doing extremely well, but I've got a number of people like that and when you find the people who end up being the most successful and the most profitable, not always do they start the best and it's a very common occurrence.
The people who jump in and go, "Yeah, I want to do this and I'm going to double my count and make a fortune." They generally don't make it very far because there will be something that will happen, the next shiny object or something will happen, the trades won't work out quite so well as they planned,]]>321falsefullhttps://www.spreaker.com/episode/205-sticking-with-the-basics-is-the-key-to-success--12231276
#205: Sticking with the Basics is the key to success
In this video:
00:35 – Danger – We all want the instant fix – but be patient
01:15 – Most Forex traders will go through this stage
01:33 – The foundations and basics are crucial
02:35 – Live webinar with clients proved that the basics are so important
04:24 – I post daily trades and hold webinars to enforce the basics
05:09 – Wait for the high quality setups
As with most things, sticking with the basics is absolutely key to your success, and it's no different in Forex Trading. Let's talk about that and more right now.
Hi, Traders. Andrew Mitchem here from The Forex Trading Coach. Today is video and podcast number 205, and I want to talk about getting back to the basics, and how very, very important that is for your long-term success as a Forex Trader.
Danger – We all want the instant fix – but be patient
Now, as people, as Forex Traders, whatever it is we do, we all what that instant fix these days. No one's patient. No one can wait. Everybody wants the answer. In trading, so many people want the get rich quick scheme. It won't happen. Everybody's sort of wanting to pay for an answer.
No one's prepared to work at things, and it's a big, big issue. We all want the shiny object. We want the next thing. We want our quick fix. If it doesn't work, we're onto the next thing. We scrap that. We're on to the next forum, we're onto the next robot, the next indicator, whatever it might be. You know what I mean, don't you? Because, I know you know, because I've been there and done it myself.
Most Forex traders will go through this stage
If you're in that learning stage as a Forex Trader, I can almost be certain that you're doing that or going through that process right now. If you're not, then you're probably going to be. It's a big danger to get into those, so if you haven't reached that stage so far, stop what you're doing right now, listen to this video and podcast. It's really important.
The foundations and basics are crucial
Reasons being whatever we do in life whether it be raising a child, building a family, building a house, flying a helicopter, learning to trade Forex, whatever it is, it's all about the basics and there's so many aspects of life that that is so important in. Another thing that I, personally, do apart from flying is I've been practicing Karate for, oh, probably ten years now I think. Somewhere around about that. Karate is exactly the same. It's all the basics. It's repetition. It's doing these things hundreds and thousands of times so that you get them right and any shortcut, whether it be with your grounding, your footwork. If you don't get that right, like the foundations, the building blocks, everything else falls to pieces. You think about building a house. If you don't get your foundations, you don't get your groundwork, don't get your plans, all those type of things right, the building falls to pieces. Exactly the same is Forex Trading, you have to have those basics
Live webinar with clients proved that the basics are so important
Now with that in mind, the reason why I want to bring that subject up is just yesterday, I held a live two and a half hour trading room webinar with my clients. Clients from all around the world on the webinar. I'm trading on my screens behind me here. People can view my screens, hear me talking about different trades that I'm taking. Now the market was pretty quiet during the session. I had just took two trades, and so in amongst answering questions and answers for people, I showed a lot of trades that people have been posting on my forum site. Now I have a great forum site for my clients that they can go on, and share trades, and look at trade setups, post screenshots, et cetera.]]>http://theforextradingcoach.com/?p=6717Sun, 27 Nov 2016 22:42:35 +0000Andrew MitchemPodcast: #205: Sticking with the Basics is the key to success In this video: 00:35 – Danger – We all want the instant fix – but be patient 01:15 – Most Forex traders will go through this stage 01:33 – The foundations and basics are crucial...
#205: Sticking with the Basics is the key to success
In this video:
00:35 – Danger – We all want the instant fix – but be patient
01:15 – Most Forex traders will go through this stage
01:33 – The foundations and basics are crucial
02:35 – Live webinar with clients proved that the basics are so important
04:24 – I post daily trades and hold webinars to enforce the basics
05:09 – Wait for the high quality setups
As with most things, sticking with the basics is absolutely key to your success, and it's no different in Forex Trading. Let's talk about that and more right now.
Hi, Traders. Andrew Mitchem here from The Forex Trading Coach. Today is video and podcast number 205, and I want to talk about getting back to the basics, and how very, very important that is for your long-term success as a Forex Trader.
Danger – We all want the instant fix – but be patient
Now, as people, as Forex Traders, whatever it is we do, we all what that instant fix these days. No one's patient. No one can wait. Everybody wants the answer. In trading, so many people want the get rich quick scheme. It won't happen. Everybody's sort of wanting to pay for an answer.
No one's prepared to work at things, and it's a big, big issue. We all want the shiny object. We want the next thing. We want our quick fix. If it doesn't work, we're onto the next thing. We scrap that. We're on to the next forum, we're onto the next robot, the next indicator, whatever it might be. You know what I mean, don't you? Because, I know you know, because I've been there and done it myself.
Most Forex traders will go through this stage
If you're in that learning stage as a Forex Trader, I can almost be certain that you're doing that or going through that process right now. If you're not, then you're probably going to be. It's a big danger to get into those, so if you haven't reached that stage so far, stop what you're doing right now, listen to this video and podcast. It's really important.
The foundations and basics are crucial
Reasons being whatever we do in life whether it be raising a child, building a family, building a house, flying a helicopter, learning to trade Forex, whatever it is, it's all about the basics and there's so many aspects of life that that is so important in. Another thing that I, personally, do apart from flying is I've been practicing Karate for, oh, probably ten years now I think. Somewhere around about that. Karate is exactly the same. It's all the basics. It's repetition. It's doing these things hundreds and thousands of times so that you get them right and any shortcut, whether it be with your grounding, your footwork. If you don't get that right, like the foundations, the building blocks, everything else falls to pieces. You think about building a house. If you don't get your foundations, you don't get your groundwork, don't get your plans, all those type of things right, the building falls to pieces. Exactly the same is Forex Trading, you have to have those basics
Live webinar with clients proved that the basics are so important
Now with that in mind, the reason why I want to bring that subject up is just yesterday, I held a live two and a half hour trading room webinar with my clients. Clients from all around the world on the webinar. I'm trading on my screens behind me here. People can view my screens, hear me talking about different trades that I'm taking. Now the market was pretty quiet during the session. I had just took two trades, and so in amongst answering questions and answers for people, I showed a lot of trades that people have been posting on my forum site. Now I have a great forum site for my clients that they can go on, and share trades, and look at trade setups, post screenshots, et cetera.]]>385falsefullhttps://www.spreaker.com/episode/204-how-important-are-high-reward-risk-trades--12231275
#204: How Important Are High Reward:Risk Trades?
In this video:
00:25 – Should you aim for lots of small gains or target the homeruns?
01:05 – How do I get an 80% win rate?
01:46 – The solution is to trade higher time frame charts
02:28 – Place you stop loss for a reason
03:21 – Forget about making pips
05:00 – This shows how very important high reward:risk trades are to your trading success
06:12 – Black Friday 2016 sale
How important is it to look for high reward risk trades as a Forex trader and how does that impact your overall profit? Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Today is video and podcast number 204.
Should you aim for lots of small gains or target the homeruns?
And, I want to talk about a really important subject. I've had an email come through here from Robert over in the US and Robert said to me, "Andrew look, I keep getting told to go for small incremental gains per day instead of hitting the home runs." I can tell Robert's from the US because he mentioned home runs and he said, "I apologize for not using cricket terminology."
He said to me, "Look, I keep doing this and the problem is that where I put my stop loss, it doesn't allow me a favorable reward to risk, so therefore I'm making lots of small gains and getting a few losing trades and of course the losing trades out do all the gains you made."
How do I get an 80% win rate?
It's quite a common problem. I get people who say to me, they say, "Andrew, how can I get an 80 percent win rate, a strike rate people like to call it, within my trading?" Well, why do you want to achieve an 80 or 90 percent win rate?
Yes, on paper it sounds fantastic to get all these winning trades, but the reality is, if you have a system like that, in most cases you're going to find that if you have that one or two losing trades, especially if you get them back to back, that it wipes out all your gains that you just made and Robert was finding exactly the same problem from the advice that he was given. He said to me, "Hey Andrew, look can you give me some new advice, I suppose, or what's your take on this? How do I overcome the problem?"
The solution is to trade higher time frame charts
To me the answer is generally to get onto the slightly long timeframe charts. I find that generally the higher the timeframe chart, the higher the reward to risk I can get off of those charts and off of those trades. There are several reasons. Spread really doesn't pay much of a, it plays very little importance on a longer timeframe chart. Of course, if you're taking trades all the time on five or 15 minute timeframe charts, spread can soon eat into your profits but if you were taking trades you know, like maybe one or two trades a day on a longer timeframe chart, spread really isn't that sort of significant a factor really.
Place you stop loss for a reason
If you have a longer timeframe chart, you can generally place your stop loss for a safety level, at where it should be for a reason, not just because it's X number of pips away. On most cases that is a very, very bad way of trading because if you pick 50 pips, as an example, 50 pips on the euro/US is completely different to 50 pips on the euro/yen or 50 pips on the euro/franc even. You get pairs that move a lot and you get pairs that move a little bit. Picking the same pip stop loss is not a great way of trading and of course different timeframes require different levels.
I like to say, let's put your stop loss at a level that if that stop loss gets stop out, you accept you got the trade wrong, the market went against you, whatever the reason but you accept that you lose on that trade.]]>http://theforextradingcoach.com/?p=6708Sun, 20 Nov 2016 22:36:15 +0000Andrew MitchemPodcast: #204: How Important Are High Reward:Risk Trades? In this video: 00:25 – Should you aim for lots of small gains or target the homeruns? 01:05 – How do I get an 80% win rate? 01:46 – The solution is to trade higher time frame charts 02:28...
#204: How Important Are High Reward:Risk Trades?
In this video:
00:25 – Should you aim for lots of small gains or target the homeruns?
01:05 – How do I get an 80% win rate?
01:46 – The solution is to trade higher time frame charts
02:28 – Place you stop loss for a reason
03:21 – Forget about making pips
05:00 – This shows how very important high reward:risk trades are to your trading success
06:12 – Black Friday 2016 sale
How important is it to look for high reward risk trades as a Forex trader and how does that impact your overall profit? Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Today is video and podcast number 204.
Should you aim for lots of small gains or target the homeruns?
And, I want to talk about a really important subject. I've had an email come through here from Robert over in the US and Robert said to me, "Andrew look, I keep getting told to go for small incremental gains per day instead of hitting the home runs." I can tell Robert's from the US because he mentioned home runs and he said, "I apologize for not using cricket terminology."
He said to me, "Look, I keep doing this and the problem is that where I put my stop loss, it doesn't allow me a favorable reward to risk, so therefore I'm making lots of small gains and getting a few losing trades and of course the losing trades out do all the gains you made."
How do I get an 80% win rate?
It's quite a common problem. I get people who say to me, they say, "Andrew, how can I get an 80 percent win rate, a strike rate people like to call it, within my trading?" Well, why do you want to achieve an 80 or 90 percent win rate?
Yes, on paper it sounds fantastic to get all these winning trades, but the reality is, if you have a system like that, in most cases you're going to find that if you have that one or two losing trades, especially if you get them back to back, that it wipes out all your gains that you just made and Robert was finding exactly the same problem from the advice that he was given. He said to me, "Hey Andrew, look can you give me some new advice, I suppose, or what's your take on this? How do I overcome the problem?"
The solution is to trade higher time frame charts
To me the answer is generally to get onto the slightly long timeframe charts. I find that generally the higher the timeframe chart, the higher the reward to risk I can get off of those charts and off of those trades. There are several reasons. Spread really doesn't pay much of a, it plays very little importance on a longer timeframe chart. Of course, if you're taking trades all the time on five or 15 minute timeframe charts, spread can soon eat into your profits but if you were taking trades you know, like maybe one or two trades a day on a longer timeframe chart, spread really isn't that sort of significant a factor really.
Place you stop loss for a reason
If you have a longer timeframe chart, you can generally place your stop loss for a safety level, at where it should be for a reason, not just because it's X number of pips away. On most cases that is a very, very bad way of trading because if you pick 50 pips, as an example, 50 pips on the euro/US is completely different to 50 pips on the euro/yen or 50 pips on the euro/franc even. You get pairs that move a lot and you get pairs that move a little bit. Picking the same pip stop loss is not a great way of trading and of course different timeframes require different levels.
I like to say, let's put your stop loss at a level that if that stop loss gets stop out, you accept you got the trade wrong, the market went against you, whatever the reason but you accept that you lose on that trade.]]>438falsefullhttps://www.spreaker.com/episode/203-how-to-trade-a-reversal-and-retracement--12231280
#203: How to Trade a Reversal and Retracement
In this video:
00:28 – How to tell if the market is trending, in a reversal or a retracement
00:48 – The result of the US Election
01:21 – Strength in the USD and GBP
01:50 – A reversal or a retracement?
02:35 – I use Bollinger bands to help identify where the market is trading
05:30 – Consider the Daily strength to assist your trading
08:01 – Trading from the right hand side of the chart is what makes a good trader
How can you tell if the Forex market is reversing or it's just in a pullback or a retracement? Let's talk about that and more right now.
Hi Forex Traders, Andrew Mitchem here from The Forex Trading Coach, this is video and podcast number 203.
How to tell if the market is trending, in a reversal or a retracement
I want to talk about a question that I've been emailed from Darren in the UK who said, "Hi Andrew, can you talk about whether, or how to tell whether a market is trending, it's pulling back or it's in a reversal or a retracement?" It's an issue that we all face as traders.
The result of the US Election
I'm going to talk about that really shortly, but first before we get into that, I‘ll need to just talk about the US election because on last week's video and podcast, I said, I wonder what's going to happen? I suppose in all honesty, against all odds, Donald Trump will be very shortly the next US president, number 45 I believe. It just goes to show out there that you just cannot tell what's going to happen because of course all the polls were suggesting Hillary Clinton was a clear winner, but reality said that it was not to be.
Strength in the USD and GBP
Right now, actually the US dollar, although it was pretty volatile when it came out, the US dollar is actually strengthening a lot and interestingly, also is the British pound. I suppose with the British and the Brexit issue. In someways there is some similarities between voting for Trump, and so it's actually given strength to the British pound which is quite interesting. Just keep an eye on your charts and your trading, and really trade what you see on the charts.
A reversal or a retracement?
Back to the topic of today's video and podcast, how do you tell if you're in a reversal part of the market, or how do you tell if that trend is going to continue? Let's say the market is moving up and you get a reversal signal, and how do you know that's going to reverse the wrong way, or how do you tell that's just going to pull back a little bit and then continue upwards again and of course the same for a sell trade but in reverse. Really, it's very difficult. Right at the time of the reversal signal, it's very difficult you don't really know whether that's going to be the start of a massive change in direction or that's just going to be a slight pullback and then it continues again.
I use Bollinger bands to help identify where the market is trading
There's a few things that I use that can help you with to find out more, and I use Bollinger bands. I love Bollinger bands, they give me a fairly good guide to what part of the chart that prices in right now. Because, if you just have price on your charts, it's really hard unless you're of course, you're using support and resistance lines, and round numbers, which I use as well. Without Bollinger bands, it's really hard to see if the market is sort of likely to reverse or likely to pullback. I'll give you some examples. I'd love to use reversal signals when the market is … When I see reversal signals and the market is nearly upper or lower Bollinger band.
If you've had a lovely trend upwards, and go and look at your charts, it doesn't matter what time frame chart. You've had a really good move upwards, a good strong move upwards,]]>http://theforextradingcoach.com/?p=6691Sun, 13 Nov 2016 23:23:11 +0000Andrew MitchemPodcast: #203: How to Trade a Reversal and Retracement In this video: 00:28 – How to tell if the market is trending, in a reversal or a retracement 00:48 – The result of the US Election 01:21 – Strength in the USD and GBP 01:50 – A reversal or a...
#203: How to Trade a Reversal and Retracement
In this video:
00:28 – How to tell if the market is trending, in a reversal or a retracement
00:48 – The result of the US Election
01:21 – Strength in the USD and GBP
01:50 – A reversal or a retracement?
02:35 – I use Bollinger bands to help identify where the market is trading
05:30 – Consider the Daily strength to assist your trading
08:01 – Trading from the right hand side of the chart is what makes a good trader
How can you tell if the Forex market is reversing or it's just in a pullback or a retracement? Let's talk about that and more right now.
Hi Forex Traders, Andrew Mitchem here from The Forex Trading Coach, this is video and podcast number 203.
How to tell if the market is trending, in a reversal or a retracement
I want to talk about a question that I've been emailed from Darren in the UK who said, "Hi Andrew, can you talk about whether, or how to tell whether a market is trending, it's pulling back or it's in a reversal or a retracement?" It's an issue that we all face as traders.
The result of the US Election
I'm going to talk about that really shortly, but first before we get into that, I‘ll need to just talk about the US election because on last week's video and podcast, I said, I wonder what's going to happen? I suppose in all honesty, against all odds, Donald Trump will be very shortly the next US president, number 45 I believe. It just goes to show out there that you just cannot tell what's going to happen because of course all the polls were suggesting Hillary Clinton was a clear winner, but reality said that it was not to be.
Strength in the USD and GBP
Right now, actually the US dollar, although it was pretty volatile when it came out, the US dollar is actually strengthening a lot and interestingly, also is the British pound. I suppose with the British and the Brexit issue. In someways there is some similarities between voting for Trump, and so it's actually given strength to the British pound which is quite interesting. Just keep an eye on your charts and your trading, and really trade what you see on the charts.
A reversal or a retracement?
Back to the topic of today's video and podcast, how do you tell if you're in a reversal part of the market, or how do you tell if that trend is going to continue? Let's say the market is moving up and you get a reversal signal, and how do you know that's going to reverse the wrong way, or how do you tell that's just going to pull back a little bit and then continue upwards again and of course the same for a sell trade but in reverse. Really, it's very difficult. Right at the time of the reversal signal, it's very difficult you don't really know whether that's going to be the start of a massive change in direction or that's just going to be a slight pullback and then it continues again.
I use Bollinger bands to help identify where the market is trading
There's a few things that I use that can help you with to find out more, and I use Bollinger bands. I love Bollinger bands, they give me a fairly good guide to what part of the chart that prices in right now. Because, if you just have price on your charts, it's really hard unless you're of course, you're using support and resistance lines, and round numbers, which I use as well. Without Bollinger bands, it's really hard to see if the market is sort of likely to reverse or likely to pullback. I'll give you some examples. I'd love to use reversal signals when the market is … When I see reversal signals and the market is nearly upper or lower Bollinger band.
If you've had a lovely trend upwards, and go and look at your charts, it doesn't matter what time frame chart. You've had a really good move upwards, a good strong move upwards,]]>510falsefullhttps://www.spreaker.com/episode/202-do-you-struggle-to-understand-fibonacci-levels--12231277
Do You Struggle to Understand Fibonacci Levels
In this video:
00:23 – Difficulties with trading using Fibonacci levels – plus the US Election
00:56 – People struggle with using Fib levels in real time
02:11 – Big traders and banks use Fibonacci levels
02:45 – Fibs give me a great retracement entry
04:15 – No guessing with my entry and exit levels
05:05 – Drawdowns are kept to a minimum
05:54 – The US Election – Hilary or Don, who will win?
Do you have a problem understanding Fibonacci levels? If you do, listen up. I've got some great information and of course, news about the upcoming U.S. election, so let's get into it.
Hi Forex traders, its Andrew Mitchem here, the owner of The Forex Trading Coach.
Difficulties with trading using Fibonacci levels – plus the US Election
In today's video and podcast which is number 202, I want to talk about difficulties about trading with Fibonacci levels and of course, next week, we have the long anticipated and really, at this stage, who knows what the outcome's going to be, the U.S. election, so let's talk about the trading side of things first, and Fibonacci levels.
People struggle with using Fib levels in real time
Last week I said at the end of the video and podcast, "Drop me an email with questions that you have about your trading," and an overwhelming majority of people, a huge number of people, wrote and said, "Andrew, can you help us with understanding Fib levels, Fibonacci levels?"
I'm not going to explain the whole "what are the Fib's, how are they calculated?" You can find that all online elsewhere, but the big problem that I found years ago when I started trading with Fibs is that they work beautifully in hindsight, a little bit like Elliott waves, if you have tried Elliott waves. You can see them all plotted on your charts, extensions and retracements and waves, et cetera, whichever you traded, Fib levels or Elliott wave, and you can see it all in hindsight because you know exactly where to draw your levels from and to and in hindsight, absolutely wonderful, but the problem that I found, anyway, is that in real time, I just didn't know where I was drawing levels.
Am I at a swing high now or maybe at a couple bars later I might be at a new swing high, so therefore my levels are wrong, and to me it was an absolutely nightmare. I found it real difficult. Although I like the concept, in reality and trading from the right hand side of the chart, making the decision right now as the market's moving up and down, I found it virtually impossible to trade either of those 2 principles.
Big traders and banks use Fibonacci levels
But, as you know, if you've been trading for a long period of time, a huge number of technical traders in big institutions, big banks, et cetera, they use Fibonacci levels, so I was determined to try and find a better way of trading that suited me using Fib levels all those years ago, and today when I found something that worked, I still trade exactly the same way today, and that's exactly how I help and teach my coaching clients using the way that I have discovered and found Fibonacci levels worked for me.
Fibs give me a great retracement entry
What I love about Fib levels, the way that I use them, is that they give me a fantastic retracement entry, so it means I'm buying below the current price or selling above the current price, so I'm using limit orders, buy limits or sell limits. What that does is if the price retraces to my entry level, it gives me a far greater reward to risk on my trade, rather than just jumping in straight away on the close of the candle at the market, I'm waiting … Let's say I'm buying. Rather than jumping in up here, I'm waiting for the price to retrace to a set level using my Fibonacci le...]]>http://theforextradingcoach.com/?p=6679Sun, 06 Nov 2016 22:15:41 +0000Andrew MitchemPodcast: Do You Struggle to Understand Fibonacci Levels In this video: 00:23 – Difficulties with trading using Fibonacci levels – plus the US Election 00:56 – People struggle with using Fib levels in real time 02:11 – Big traders and banks use...
Do You Struggle to Understand Fibonacci Levels
In this video:
00:23 – Difficulties with trading using Fibonacci levels – plus the US Election
00:56 – People struggle with using Fib levels in real time
02:11 – Big traders and banks use Fibonacci levels
02:45 – Fibs give me a great retracement entry
04:15 – No guessing with my entry and exit levels
05:05 – Drawdowns are kept to a minimum
05:54 – The US Election – Hilary or Don, who will win?
Do you have a problem understanding Fibonacci levels? If you do, listen up. I've got some great information and of course, news about the upcoming U.S. election, so let's get into it.
Hi Forex traders, its Andrew Mitchem here, the owner of The Forex Trading Coach.
Difficulties with trading using Fibonacci levels – plus the US Election
In today's video and podcast which is number 202, I want to talk about difficulties about trading with Fibonacci levels and of course, next week, we have the long anticipated and really, at this stage, who knows what the outcome's going to be, the U.S. election, so let's talk about the trading side of things first, and Fibonacci levels.
People struggle with using Fib levels in real time
Last week I said at the end of the video and podcast, "Drop me an email with questions that you have about your trading," and an overwhelming majority of people, a huge number of people, wrote and said, "Andrew, can you help us with understanding Fib levels, Fibonacci levels?"
I'm not going to explain the whole "what are the Fib's, how are they calculated?" You can find that all online elsewhere, but the big problem that I found years ago when I started trading with Fibs is that they work beautifully in hindsight, a little bit like Elliott waves, if you have tried Elliott waves. You can see them all plotted on your charts, extensions and retracements and waves, et cetera, whichever you traded, Fib levels or Elliott wave, and you can see it all in hindsight because you know exactly where to draw your levels from and to and in hindsight, absolutely wonderful, but the problem that I found, anyway, is that in real time, I just didn't know where I was drawing levels.
Am I at a swing high now or maybe at a couple bars later I might be at a new swing high, so therefore my levels are wrong, and to me it was an absolutely nightmare. I found it real difficult. Although I like the concept, in reality and trading from the right hand side of the chart, making the decision right now as the market's moving up and down, I found it virtually impossible to trade either of those 2 principles.
Big traders and banks use Fibonacci levels
But, as you know, if you've been trading for a long period of time, a huge number of technical traders in big institutions, big banks, et cetera, they use Fibonacci levels, so I was determined to try and find a better way of trading that suited me using Fib levels all those years ago, and today when I found something that worked, I still trade exactly the same way today, and that's exactly how I help and teach my coaching clients using the way that I have discovered and found Fibonacci levels worked for me.
Fibs give me a great retracement entry
What I love about Fib levels, the way that I use them, is that they give me a fantastic retracement entry, so it means I'm buying below the current price or selling above the current price, so I'm using limit orders, buy limits or sell limits. What that does is if the price retraces to my entry level, it gives me a far greater reward to risk on my trade, rather than just jumping in straight away on the close of the candle at the market, I'm waiting … Let's say I'm buying. Rather than jumping in up here, I'm waiting for the price to retrace to a set level using my Fibonacci le...]]>435falsefullhttps://www.spreaker.com/episode/201-looking-after-your-investments--12231279
Looking after your Investments
In this video:
00:29 – Managing your investments and retirement
01:02 – Retirement fund closes with zero gains
02:27 – 20 years of payments wasted
03:23 – Understand how to trade for yourself and look after your own future
04:30 – Made more trading FX this year than the retirement fund has made in 20 years
05:14 – Taking control of your finances
05:55 – Topics for future podcasts and videos
06:05 – US Elections approaching – be careful with your trade setups.
Should you rely on someone else to help with your long term investments in your retirement, or should you take care of that for yourself? Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Today, this is video and podcast number 201.
Managing your investments and retirement
I want to talk about something that affects all of us, when you think about your investments, when you think about longer term investments, when you think about retirement, how do you manage that?
Is it something that you just handover everything to someone else and say, "You're the experts, and I've got no idea what you're doing with my money or my investments, but go and do it for me." Are you the sort of person who wants to take control of things for yourself and really understand what's happening, because after all, it's your money, and your investments. Which one are you?
Retirement fund closes with zero gains
The reason I want to talk about that is because of an experience I've had just today. Now, I flew to Tauranga, which is a beautiful part of New Zealand, today to see a client, who's just joined me. He's actually doing really, really well with his trading, just starting off small, but going very well.
Through our conversation this morning, he said to me, "Andrew, I've got a bit of a problem." I said, "Okay, so feel free to share it if you wish to." He said, "I've been investing," and I'm not going to tell you the companies name, but it's a very well known retirement investment fund here in New Zealand. It's a global company for they have an office here, and he's been with them for 20 years, he's been paying money as a retirement fund into this company. I've just written and told him, now, I don't know the legalities with this, and it kind of doesn't quite add up, but this is what he's told me today. He said they've written to say, "You can take your money out now, but the money that you take out is only the money that you've put in over the last 20 years. No gains or anything like that."
To do that, to have the privilege of taking his money out, they're going to charge him fee to do that, like an administration fee anyway, and that's quite a hefty fee. You think about that, money that he's paid in.
20 years of payments wasted
After tax money that is put into this retirement fund for 20 years that he's been working, he's going to get exactly the same amount of money out today than what he's put in over those 20 years. No increase in account, no gains, nothing like that. Of course, with inflation and everything else, we're going to have what you put in, $1000, 20 years ago is not going to buy you very much today in comparison.
Effectively, for 20 years he's put his money in, he's paid fees, he's done everything else, hoping that it's going to be his sort of nest egg for retirement, It's just not going to happen, it's completely out of his control. By everything they said to me today, he has little choice but to just take this money out. I suppose, like you were saying, the good thing is that at least he can get his money out, but it's not like he's got any gains or anything like that.]]>http://theforextradingcoach.com/?p=6671Sun, 30 Oct 2016 22:46:00 +0000Andrew MitchemPodcast: Looking after your Investments In this video: 00:29 – Managing your investments and retirement 01:02 – Retirement fund closes with zero gains 02:27 – 20 years of payments wasted 03:23 – Understand how to trade for yourself and look...
Looking after your Investments
In this video:
00:29 – Managing your investments and retirement
01:02 – Retirement fund closes with zero gains
02:27 – 20 years of payments wasted
03:23 – Understand how to trade for yourself and look after your own future
04:30 – Made more trading FX this year than the retirement fund has made in 20 years
05:14 – Taking control of your finances
05:55 – Topics for future podcasts and videos
06:05 – US Elections approaching – be careful with your trade setups.
Should you rely on someone else to help with your long term investments in your retirement, or should you take care of that for yourself? Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Today, this is video and podcast number 201.
Managing your investments and retirement
I want to talk about something that affects all of us, when you think about your investments, when you think about longer term investments, when you think about retirement, how do you manage that?
Is it something that you just handover everything to someone else and say, "You're the experts, and I've got no idea what you're doing with my money or my investments, but go and do it for me." Are you the sort of person who wants to take control of things for yourself and really understand what's happening, because after all, it's your money, and your investments. Which one are you?
Retirement fund closes with zero gains
The reason I want to talk about that is because of an experience I've had just today. Now, I flew to Tauranga, which is a beautiful part of New Zealand, today to see a client, who's just joined me. He's actually doing really, really well with his trading, just starting off small, but going very well.
Through our conversation this morning, he said to me, "Andrew, I've got a bit of a problem." I said, "Okay, so feel free to share it if you wish to." He said, "I've been investing," and I'm not going to tell you the companies name, but it's a very well known retirement investment fund here in New Zealand. It's a global company for they have an office here, and he's been with them for 20 years, he's been paying money as a retirement fund into this company. I've just written and told him, now, I don't know the legalities with this, and it kind of doesn't quite add up, but this is what he's told me today. He said they've written to say, "You can take your money out now, but the money that you take out is only the money that you've put in over the last 20 years. No gains or anything like that."
To do that, to have the privilege of taking his money out, they're going to charge him fee to do that, like an administration fee anyway, and that's quite a hefty fee. You think about that, money that he's paid in.
20 years of payments wasted
After tax money that is put into this retirement fund for 20 years that he's been working, he's going to get exactly the same amount of money out today than what he's put in over those 20 years. No increase in account, no gains, nothing like that. Of course, with inflation and everything else, we're going to have what you put in, $1000, 20 years ago is not going to buy you very much today in comparison.
Effectively, for 20 years he's put his money in, he's paid fees, he's done everything else, hoping that it's going to be his sort of nest egg for retirement, It's just not going to happen, it's completely out of his control. By everything they said to me today, he has little choice but to just take this money out. I suppose, like you were saying, the good thing is that at least he can get his money out, but it's not like he's got any gains or anything like that.]]>420falsefullhttps://www.spreaker.com/episode/200-helping-forex-traders-around-the-world--12231278
Helping Forex Traders Around The World
In this video:
00:28 – 200 Videos and Podcasts
00:42 – The Forex Trading Coach history – How it all started
01:44 – Broker asked me to help teach their clients
02:09 – Clients in 56 Countries today
03:29 – Great to help so many people with their trading
04:12 – I give 100% effort to help my clients
04:40 – Lots of free information available on my site
05:25 – Looking forward to the next 200 videos and podcasts
This is video and podcast number 200. Over the next few minutes I'd like to explain how I've helped people all around the world and how I can help you as a forex trader so let's get into it right now.
Hi, everybody. Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 200.
200 Videos and Podcasts
I'm very proud to have brought 200 videos and podcasts through to you over the last number of years. I hope there's been some great information and helpful tips that I'm giving out every week to help you develop further as a forex trader.
The Forex Trading Coach history – How it all started
In this video and podcast today, what I'd like to do is just go back a number of years and just let you know that The Forex Trading Coach actually started completely by accident. If you don't know how it started, well, let me explain. As a forex trader, I was making some good gains, making some good profits, and I started selling, trading signals about eight years ago. As a result of people doing very well from receiving my emails once a day, I had a number of people that over time wrote to me and say, "Hey, Andrew. Great. I'm receiving your emails. I'm making some money but come and teach me how you're doing that." I thought, "Well, I can do that."
My very first client, I flew to Noosa, beautiful part of Australia up on the Sunshine Coast. I spent about four days with the guy over there. That was seven and a half, maybe eight years ago now. I had a great time and helped him to develop his trading. He enjoyed what I had to teach him and came back home to New Zealand, carried on trading.
Broker asked me to help teach their clients
Then my broker at the time came to me and said, "Look, you're doing well. You obviously doing well with your trading yourself. Can you come and help some bad clients?" That developed into me going up to Auckland in New Zealand gulf island here and helping some clients doing some tuition for people. Anyway, the whole thing spread from there and the development of The Forex Trading Coach happened from there.
Clients in 56 Countries today
Anyway, jump forward to today. As of today, I have actual teaching clients, coaching clients in 56 countries around the world. I'm very proud of that achievement. There's a lot of people that have been helped from all parts of the world. It's not just about actual people who have decided to pay for their education. There's a lot of information that I've proudly helped so many other people with as well.
I've just got some numbers here for you. Three and a half thousand people have joined my free course that I launched in July of this year, just a few months ago so three and a half thousand of those. Over 13,000 people have downloaded my free Lot Size Calculator. 11,000 people have read my eBook. There are nine and a half thousand people who attended my free webinars that I hold each week. Over 14,000 people received this video and podcast who have chosen to receive this by email every week and of course many more watch it but who actually received it directly by email each week. 343,000 people have listened to my podcast on iTunes which is a phenomenal figure.
Great to help so many people with their trading]]>http://theforextradingcoach.com/?p=6654Sun, 23 Oct 2016 22:32:42 +0000Andrew MitchemPodcast: Helping Forex Traders Around The World In this video: 00:28 – 200 Videos and Podcasts 00:42 – The Forex Trading Coach history – How it all started 01:44 – Broker asked me to help teach their clients 02:09 – Clients in 56 Countries today...
Helping Forex Traders Around The World
In this video:
00:28 – 200 Videos and Podcasts
00:42 – The Forex Trading Coach history – How it all started
01:44 – Broker asked me to help teach their clients
02:09 – Clients in 56 Countries today
03:29 – Great to help so many people with their trading
04:12 – I give 100% effort to help my clients
04:40 – Lots of free information available on my site
05:25 – Looking forward to the next 200 videos and podcasts
This is video and podcast number 200. Over the next few minutes I'd like to explain how I've helped people all around the world and how I can help you as a forex trader so let's get into it right now.
Hi, everybody. Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 200.
200 Videos and Podcasts
I'm very proud to have brought 200 videos and podcasts through to you over the last number of years. I hope there's been some great information and helpful tips that I'm giving out every week to help you develop further as a forex trader.
The Forex Trading Coach history – How it all started
In this video and podcast today, what I'd like to do is just go back a number of years and just let you know that The Forex Trading Coach actually started completely by accident. If you don't know how it started, well, let me explain. As a forex trader, I was making some good gains, making some good profits, and I started selling, trading signals about eight years ago. As a result of people doing very well from receiving my emails once a day, I had a number of people that over time wrote to me and say, "Hey, Andrew. Great. I'm receiving your emails. I'm making some money but come and teach me how you're doing that." I thought, "Well, I can do that."
My very first client, I flew to Noosa, beautiful part of Australia up on the Sunshine Coast. I spent about four days with the guy over there. That was seven and a half, maybe eight years ago now. I had a great time and helped him to develop his trading. He enjoyed what I had to teach him and came back home to New Zealand, carried on trading.
Broker asked me to help teach their clients
Then my broker at the time came to me and said, "Look, you're doing well. You obviously doing well with your trading yourself. Can you come and help some bad clients?" That developed into me going up to Auckland in New Zealand gulf island here and helping some clients doing some tuition for people. Anyway, the whole thing spread from there and the development of The Forex Trading Coach happened from there.
Clients in 56 Countries today
Anyway, jump forward to today. As of today, I have actual teaching clients, coaching clients in 56 countries around the world. I'm very proud of that achievement. There's a lot of people that have been helped from all parts of the world. It's not just about actual people who have decided to pay for their education. There's a lot of information that I've proudly helped so many other people with as well.
I've just got some numbers here for you. Three and a half thousand people have joined my free course that I launched in July of this year, just a few months ago so three and a half thousand of those. Over 13,000 people have downloaded my free Lot Size Calculator. 11,000 people have read my eBook. There are nine and a half thousand people who attended my free webinars that I hold each week. Over 14,000 people received this video and podcast who have chosen to receive this by email every week and of course many more watch it but who actually received it directly by email each week. 343,000 people have listened to my podcast on iTunes which is a phenomenal figure.
Great to help so many people with their trading]]>344falsefullhttps://www.spreaker.com/episode/199-don-t-give-up-on-your-forex-trading--12231281
Don’t Give Up On Your Forex Trading
In this video:
00:35 – Start small and get yourself educated
01:32 – People are too quick to give up as soon as it goes wrong
02:14 – Don’t give up – you need to control your emotions
02:56 – You cannot control the market
03:44 – I’ve posted daily trades for 7 years consistently
04:32 – Daily trade suggestions up more than +36% for the year so far
05:30 – You will get losing trades – it’s a fact of trading
Giving up Forex Training should not really be an option for you. Let's talk about that, and more, right now.
Hi Forex Traders, it's Andrew Mitchem here The Forex Trading Coach. This is video and podcast number 199. In this video and podcast, I want to talk about why you should not give up trading.
It depends on how long you've been trading, depending on which side of the fence you're on.
Start small and get yourself educated
You see, each week I get a huge number of people come to me and they say, "Look Andrew, I'm new to trading. I've never traded before, but I think that I'm going to be really good at it and I think I've got the personality to be a great trader and make all this money and give up my job. I'm just going to be so good at trading, what do you think?"
I say, "Well calm down. You've got to be real about this." Because people think that just because they're good at one thing means that they can just suddenly give it up, jump into trading and be perfect. A lot of the time this is against what they want to hear, of course. They want me to go, "Yay! Go for it! Fantastic!" I say, "Yeah, go for it. Wonderful. But … Start small, start on a demo account, get yourself educated, get yourself a system, et cetera. Go through, get bigger, go live, be consistent, and then yes, you'll figure out if you can trade or not."
People are too quick to give up as soon as it goes wrong
The other end of the scale, we get people who have been trading for a long time and it just doesn't work. It's all wrong, I'm going to give up. It's my broker's fault. My computer's fault. My wife's fault. The dog's fault. Doesn't matter whose fault it is, but it's everybody else's fault. I've been doing it for so long, and I've just had enough and it's not working. You get that sort of feedback as well from people. Luckily not clients, these are just people who are approaching me for their last bit of help.
Depending on which side of the scale you are, new or angry, frustrated, annoyed, ready to give up person. I urge you, don't give up. Whichever you're at.
Don’t give up – you need to control your emotions
Because as you know trading Forex is just so fantastic, but you've got to of course have a strategy and an understanding of the markets and make it work.
What you also need is a calm, level head. Keep your emotions under check, under control, approach to trading. Really that is one of the big keys to trading. These people that go, "I'm going to go onto another system and it's doesn't work and it's rubbish! I've had three losing trades in a row, I'm going to change and buy another indicator," it's not going to happen. Because you have to understand that trading.
You cannot control the market
The markets are out of your control. You have to have a strategy that you can keep trading, keep doing. Being methodical, have a routine, have a plan. All those things together.
Everybody has losing trades, losing days, losing weeks, losing months. It happens. We all have them. We have good trades, and when you have good times and good trades celebrate it. Yeah, it's great, it's wonderful, your account size is growing, you've made some money, wonderful. But do not get greedy with that. Don't suddenly start thinking you're indestructible...]]>http://theforextradingcoach.com/?p=6645Sun, 16 Oct 2016 22:35:57 +0000Andrew MitchemPodcast: Don’t Give Up On Your Forex Trading In this video: 00:35 – Start small and get yourself educated 01:32 – People are too quick to give up as soon as it goes wrong 02:14 – Don’t give up – you need to control your emotions 02:56 – You...
Don’t Give Up On Your Forex Trading
In this video:
00:35 – Start small and get yourself educated
01:32 – People are too quick to give up as soon as it goes wrong
02:14 – Don’t give up – you need to control your emotions
02:56 – You cannot control the market
03:44 – I’ve posted daily trades for 7 years consistently
04:32 – Daily trade suggestions up more than +36% for the year so far
05:30 – You will get losing trades – it’s a fact of trading
Giving up Forex Training should not really be an option for you. Let's talk about that, and more, right now.
Hi Forex Traders, it's Andrew Mitchem here The Forex Trading Coach. This is video and podcast number 199. In this video and podcast, I want to talk about why you should not give up trading.
It depends on how long you've been trading, depending on which side of the fence you're on.
Start small and get yourself educated
You see, each week I get a huge number of people come to me and they say, "Look Andrew, I'm new to trading. I've never traded before, but I think that I'm going to be really good at it and I think I've got the personality to be a great trader and make all this money and give up my job. I'm just going to be so good at trading, what do you think?"
I say, "Well calm down. You've got to be real about this." Because people think that just because they're good at one thing means that they can just suddenly give it up, jump into trading and be perfect. A lot of the time this is against what they want to hear, of course. They want me to go, "Yay! Go for it! Fantastic!" I say, "Yeah, go for it. Wonderful. But … Start small, start on a demo account, get yourself educated, get yourself a system, et cetera. Go through, get bigger, go live, be consistent, and then yes, you'll figure out if you can trade or not."
People are too quick to give up as soon as it goes wrong
The other end of the scale, we get people who have been trading for a long time and it just doesn't work. It's all wrong, I'm going to give up. It's my broker's fault. My computer's fault. My wife's fault. The dog's fault. Doesn't matter whose fault it is, but it's everybody else's fault. I've been doing it for so long, and I've just had enough and it's not working. You get that sort of feedback as well from people. Luckily not clients, these are just people who are approaching me for their last bit of help.
Depending on which side of the scale you are, new or angry, frustrated, annoyed, ready to give up person. I urge you, don't give up. Whichever you're at.
Don’t give up – you need to control your emotions
Because as you know trading Forex is just so fantastic, but you've got to of course have a strategy and an understanding of the markets and make it work.
What you also need is a calm, level head. Keep your emotions under check, under control, approach to trading. Really that is one of the big keys to trading. These people that go, "I'm going to go onto another system and it's doesn't work and it's rubbish! I've had three losing trades in a row, I'm going to change and buy another indicator," it's not going to happen. Because you have to understand that trading.
You cannot control the market
The markets are out of your control. You have to have a strategy that you can keep trading, keep doing. Being methodical, have a routine, have a plan. All those things together.
Everybody has losing trades, losing days, losing weeks, losing months. It happens. We all have them. We have good trades, and when you have good times and good trades celebrate it. Yeah, it's great, it's wonderful, your account size is growing, you've made some money, wonderful. But do not get greedy with that. Don't suddenly start thinking you're indestructible...]]>395falsefullhttps://www.spreaker.com/episode/198-4-6-account-gain-per-month-for-69-months--12231282
4.6% Account Gain Per Month for 69 Months
In this video:
00:30 – Traditional methods of making a return on your capital are not working now
01:10 – Bank rates are negative in some Countries
01.56 – A massive +0.05% Interest Rate Gain is effectively going backwards.
02:30 – Daily Trading Suggestions make +4.6% per month gain on average.
03:35 – Learn and Earn at the same time
04:50 – What is this knowledge worth to you?
05:06 – Get started with my free course – click the link below
You can't rely on the banks or traditional investment methods to make a good return on your capital any longer, so let's talk about that and more right now.
Hi Forex traders! Andrew Mitchem here, The Forex Trading Coach. Welcome to video and podcast episode #198.
Traditional methods of making a return on your capital are not working now
In today's video and podcast I'm going to be talking about why you cannot rely on banks and the traditional methods of making a return on your capital any longer. You just cannot do it, and there's things you need to do to change because- You think about banks. Traditionally a lot of people were making 5, 6, 7% per year on their savings in a bank and some people could survive like that. They're happy like that, you see it as quite a safe investment. The bank's not really or probably shouldn't sort of go under. Your money should be safe. It's a reasonable return for no risk.
Bank rates are negative in some Countries
But that's a number of years ago now, and just to illustrate that we're getting bank interest rates around the world dropping all the time. In some countries they're now negative.
To highlight that fact I've just received a letter here from Lloyds Bank in England where I still have a bank account. It's my very first bank account when I was a child. They've said on here that my annual interest rate, my gross interest rate before tax is going to go from 0.25 and the 8th of December this year they're going to reduce it to 0.05%. That's gross, that's before any tax or fees et cetera. 0.05%. Luckily it's a positive, but it may as well not be. That's just not exciting.
A massive +0.05% Interest Rate Gain is effectively going backwards.
As an example, if for some reason you wanted to have £100,000 with Lloyds Bank in this account, I can't like it, after the 8th of December, they're going to pay you a massive £50 in interest, that's gross, in a year. On a $100,000 account. That's just mad. There's just no point in having your money there because by the time you adjust for inflation et cetera, it's just- it's going backwards isn't it.
Daily Trading Suggestions make +4.6% per month gain on average.
What can you do about that? Well of course as a Forex trader to me for cash flow and for higher returns, Forex is the obvious answer. Just to give you some examples if you had copied my daily trading suggestions, as a member and as clients and as so many people do, from January 2011 through to today at only half of 1% risk per trade. That's 69 completed months. If you'd risked half of 1% on each of the trades that I post you would have been up 315% on your account today. That's with monthly compounding, so at the end of the month you take your total and your compounding that with .5% risk. 315% in those 69 months, it works out an average of 4.6% gain on your account per month. Now that's from doing nothing else than just a five minute a day job for copy paste exactly what I say. You take all the winners, all the losers, et cetera. Five minutes a day.
Learn and Earn at the same time
That's the simple side of things, but as I'm posting that information not only of course am I putting it out there for myself and for my clients to earn from. From the client's perspective it's a learning tool as well.]]>http://theforextradingcoach.com/?p=6636Sun, 09 Oct 2016 22:30:00 +0000Andrew MitchemPodcast: 4.6% Account Gain Per Month for 69 Months In this video: 00:30 – Traditional methods of making a return on your capital are not working now 01:10 – Bank rates are negative in some Countries 01.56 – A massive +0.05% Interest Rate Gain is...
4.6% Account Gain Per Month for 69 Months
In this video:
00:30 – Traditional methods of making a return on your capital are not working now
01:10 – Bank rates are negative in some Countries
01.56 – A massive +0.05% Interest Rate Gain is effectively going backwards.
02:30 – Daily Trading Suggestions make +4.6% per month gain on average.
03:35 – Learn and Earn at the same time
04:50 – What is this knowledge worth to you?
05:06 – Get started with my free course – click the link below
You can't rely on the banks or traditional investment methods to make a good return on your capital any longer, so let's talk about that and more right now.
Hi Forex traders! Andrew Mitchem here, The Forex Trading Coach. Welcome to video and podcast episode #198.
Traditional methods of making a return on your capital are not working now
In today's video and podcast I'm going to be talking about why you cannot rely on banks and the traditional methods of making a return on your capital any longer. You just cannot do it, and there's things you need to do to change because- You think about banks. Traditionally a lot of people were making 5, 6, 7% per year on their savings in a bank and some people could survive like that. They're happy like that, you see it as quite a safe investment. The bank's not really or probably shouldn't sort of go under. Your money should be safe. It's a reasonable return for no risk.
Bank rates are negative in some Countries
But that's a number of years ago now, and just to illustrate that we're getting bank interest rates around the world dropping all the time. In some countries they're now negative.
To highlight that fact I've just received a letter here from Lloyds Bank in England where I still have a bank account. It's my very first bank account when I was a child. They've said on here that my annual interest rate, my gross interest rate before tax is going to go from 0.25 and the 8th of December this year they're going to reduce it to 0.05%. That's gross, that's before any tax or fees et cetera. 0.05%. Luckily it's a positive, but it may as well not be. That's just not exciting.
A massive +0.05% Interest Rate Gain is effectively going backwards.
As an example, if for some reason you wanted to have £100,000 with Lloyds Bank in this account, I can't like it, after the 8th of December, they're going to pay you a massive £50 in interest, that's gross, in a year. On a $100,000 account. That's just mad. There's just no point in having your money there because by the time you adjust for inflation et cetera, it's just- it's going backwards isn't it.
Daily Trading Suggestions make +4.6% per month gain on average.
What can you do about that? Well of course as a Forex trader to me for cash flow and for higher returns, Forex is the obvious answer. Just to give you some examples if you had copied my daily trading suggestions, as a member and as clients and as so many people do, from January 2011 through to today at only half of 1% risk per trade. That's 69 completed months. If you'd risked half of 1% on each of the trades that I post you would have been up 315% on your account today. That's with monthly compounding, so at the end of the month you take your total and your compounding that with .5% risk. 315% in those 69 months, it works out an average of 4.6% gain on your account per month. Now that's from doing nothing else than just a five minute a day job for copy paste exactly what I say. You take all the winners, all the losers, et cetera. Five minutes a day.
Learn and Earn at the same time
That's the simple side of things, but as I'm posting that information not only of course am I putting it out there for myself and for my clients to earn from. From the client's perspective it's a learning tool as well.]]>392falsefullhttps://www.spreaker.com/episode/197-only-good-practise-makes-perfect--12231283
Only Good Practise Makes Perfect
In this video:
00:29 – It’s not true that all practise makes perfect
01:02 – Repetition is good but only if you learn and improve
01:56 – You need a good strategy and support
02:46 – Client’s review – making 5% return per week
04:25 – The basics are so important
04:48 – My Free Engulfing candle strategy is available to join now
Let's talk about why good practice makes perfect, but not all practice makes perfect. Let's get into that right now.
Hi Forex Traders, Andrew Mitchem here, and this is video and podcast number 197.
It’s not true that all practise makes perfect
We are going to talk about why only good practice makes perfect. You see, there's a common phrase out there, that "All practice makes perfect", and it's just not true. You see, if you are practicing the wrong thing, and you keep consistently doing that, and you keep practicing that, then the end result and the outcome will be, you are doing the wrong thing. It cannot change because you're practicing doing the wrong thing over, and over again.
For me, that phrase is not quite true, but what is true is that good practice makes perfect.
Repetition is good but only if you learn and improve
Now, many of you would know that I've been practicing karate for that past 8 or more years. In karate, we use repetition all of the time, we're constantly practicing the techniques to refine them to get better at them. The reason that we practiced everything, time and time again is because you can then become instinctive at it, it just need to be an instant reaction without thinking about it. It's really important that in karate, we practice good practice. Same thing, we have a teacher, we have Senseis, we have people that instruct us to make our techniques better, because when we are practicing these things thousands, and thousands of times of these movements, we need to practice the good techniques.
There's no good of again, just going out there and doing a punch, or a block, or a kick 10,000 times if it's incorrect, because it's not going to be effective. That same principle can be carried across into your Forex Trading.
You need a good strategy and support
When you think about trading, if you're just using the random system or a pool system, and you're refining how to use that, then the end result's not great. That's why in Forex Trading as well, you'll need to have a good system, a good solid, reliable system that works in all markets, all conditions. It's also why you need yourself a tutor or a mentor, and you need someone to be able to basically show you where you could improve, what techniques you could improve, where you're going wrong at the moment, and then what you're doing?
As you're using that information and that advice to practice in the market, and then that again becomes good practice which will lead to a profitable result in the Forex Market.
Client’s review – making 5% return per week
Now, I wanted to share with you a review that I've got here, it's on Forex Peace Army. It's by a guy called Ian, and I just wanted to read out part of Ian's review. He said, "I've been trading with Andrew for over 1 year, this follows 10 years of failing at trading stocks on the ASX. I've been very slow to let go of my bad habits by over-trading, impulse entries, totally random arguments for trades." He set out being the quintessential, undisciplined failing trader. "But the great thing is," Ian goes on to say, "But the good news is that 6 weeks ago in 96 trades to go, I decided to stop all the smart ass, childish, self-indulgent behavior, and do exactly what Andrew said to do. The result has been up and down, but the average is that I had of 5% return on my account per week."]]>http://theforextradingcoach.com/?p=6619Sun, 02 Oct 2016 22:48:07 +0000Andrew MitchemPodcast: Only Good Practise Makes Perfect In this video: 00:29 – It’s not true that all practise makes perfect 01:02 – Repetition is good but only if you learn and improve 01:56 – You need a good strategy and support 02:46 – Client’s review –...
Only Good Practise Makes Perfect
In this video:
00:29 – It’s not true that all practise makes perfect
01:02 – Repetition is good but only if you learn and improve
01:56 – You need a good strategy and support
02:46 – Client’s review – making 5% return per week
04:25 – The basics are so important
04:48 – My Free Engulfing candle strategy is available to join now
Let's talk about why good practice makes perfect, but not all practice makes perfect. Let's get into that right now.
Hi Forex Traders, Andrew Mitchem here, and this is video and podcast number 197.
It’s not true that all practise makes perfect
We are going to talk about why only good practice makes perfect. You see, there's a common phrase out there, that "All practice makes perfect", and it's just not true. You see, if you are practicing the wrong thing, and you keep consistently doing that, and you keep practicing that, then the end result and the outcome will be, you are doing the wrong thing. It cannot change because you're practicing doing the wrong thing over, and over again.
For me, that phrase is not quite true, but what is true is that good practice makes perfect.
Repetition is good but only if you learn and improve
Now, many of you would know that I've been practicing karate for that past 8 or more years. In karate, we use repetition all of the time, we're constantly practicing the techniques to refine them to get better at them. The reason that we practiced everything, time and time again is because you can then become instinctive at it, it just need to be an instant reaction without thinking about it. It's really important that in karate, we practice good practice. Same thing, we have a teacher, we have Senseis, we have people that instruct us to make our techniques better, because when we are practicing these things thousands, and thousands of times of these movements, we need to practice the good techniques.
There's no good of again, just going out there and doing a punch, or a block, or a kick 10,000 times if it's incorrect, because it's not going to be effective. That same principle can be carried across into your Forex Trading.
You need a good strategy and support
When you think about trading, if you're just using the random system or a pool system, and you're refining how to use that, then the end result's not great. That's why in Forex Trading as well, you'll need to have a good system, a good solid, reliable system that works in all markets, all conditions. It's also why you need yourself a tutor or a mentor, and you need someone to be able to basically show you where you could improve, what techniques you could improve, where you're going wrong at the moment, and then what you're doing?
As you're using that information and that advice to practice in the market, and then that again becomes good practice which will lead to a profitable result in the Forex Market.
Client’s review – making 5% return per week
Now, I wanted to share with you a review that I've got here, it's on Forex Peace Army. It's by a guy called Ian, and I just wanted to read out part of Ian's review. He said, "I've been trading with Andrew for over 1 year, this follows 10 years of failing at trading stocks on the ASX. I've been very slow to let go of my bad habits by over-trading, impulse entries, totally random arguments for trades." He set out being the quintessential, undisciplined failing trader. "But the great thing is," Ian goes on to say, "But the good news is that 6 weeks ago in 96 trades to go, I decided to stop all the smart ass, childish, self-indulgent behavior, and do exactly what Andrew said to do. The result has been up and down, but the average is that I had of 5% return on my account per week."]]>320falsefullhttps://www.spreaker.com/episode/196-which-time-frame-chart-should-you-trade--12231284
#196: Which Time Frame Chart Should You Trade?
In this video:
00:32 – Choosing the best time frame chart for you
01:15 – The merits of various time frame charts
02:52 – Trading the Weekly charts
03:53 – Benefits of the longer time frame charts
04:50 – The short time frame charts – what to expect
06:00 – Work out what suits you
07:00 – To Summarise
What is the best timeframe Forex chart for you to trade? Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach and welcome to video and podcast number 196. In today's video and podcast I'm going to be discussing a topic that I get asked almost daily.
Choosing the best time frame chart for you
It's all about choosing the right timeframe chart for you to trade. You see, it's an issue that confuses a lot of Forex traders and it's easy to understand why that is the case because when you go through your charts, depending on the platform that you use, there are a group of different timeframe charts to use and depending on what's happening on which particular currency pair, they can all show different directions.
Some are looking like the price is moving up and they're sort of green candles and others you could see the price is moving down and they're red. It causes a lot of confusion for people.
The merits of various time frame charts
What I want to do to help you is to just run through just briefly some of the merits of different timeframe charts and how you can best decide what works for you, because ultimately trading successfully is all about what works for you. Let's go through that, starting with the longer timeframe charts. Now if you use MT4/Meta Trader 4, you'll know that the monthly charts are the longest timeframe chart available to trade.
Now monthly chart is quite an unusual chart in that you have to wait a long, long, long time on most currency pairs before you get a really good trade setup. Now if you trade like me on the close of a candle, it's quite easy because basically you've got 12 times a year that you can go and look at your monthly charts and you think, is there a setup, yes or no. Monthly charts probably are not really for everybody because you have to wait a long time between trades. You have to accept that the trade's going to remain open for a long, long time as well or potentially for a long time. I'd probably say to most people, just leave the monthly charts.
However, if you're quite prepared to leave trades open, see them sort of move into profit and back into maybe a loss and be prepared for that longer term hold that position. If that's you, absolutely go for it. A lot of people do come to me and they'll say, look, I'm just too busy with work or family, other commitments, to sort of be looking at charts all day and night. If that's you, then maybe the monthly charts are a good option for you.
Trading the Weekly charts
You come down to the next timeframe and that on most platforms would be a weekly chart.
That to me probably personally, is one of the longer timeframe charts that I trade and I also post on my membership site for my clients weekly trading suggestions. I also post monthly but we don't get too many good setups. Weekly of course, you get sort of four times, sometimes five, depending on the month, within the weekly charts, within the month to go and look at. I like weekly charts, I think they're great. If you look through all the different currency pairs you can quite often see, I generally post somewhere between about sort of one and four weekly charts in a week.
At the odd time there are none if everything's a little bit sort of flat and indecisive but most times there are some good setups there. That then you need to make the decision of if you're going to close that at the end o...]]>http://theforextradingcoach.com/?p=6604Sun, 25 Sep 2016 22:54:36 +0000Andrew MitchemPodcast: #196: Which Time Frame Chart Should You Trade? In this video: 00:32 – Choosing the best time frame chart for you 01:15 – The merits of various time frame charts 02:52 – Trading the Weekly charts 03:53 – Benefits of the longer time frame...
#196: Which Time Frame Chart Should You Trade?
In this video:
00:32 – Choosing the best time frame chart for you
01:15 – The merits of various time frame charts
02:52 – Trading the Weekly charts
03:53 – Benefits of the longer time frame charts
04:50 – The short time frame charts – what to expect
06:00 – Work out what suits you
07:00 – To Summarise
What is the best timeframe Forex chart for you to trade? Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach and welcome to video and podcast number 196. In today's video and podcast I'm going to be discussing a topic that I get asked almost daily.
Choosing the best time frame chart for you
It's all about choosing the right timeframe chart for you to trade. You see, it's an issue that confuses a lot of Forex traders and it's easy to understand why that is the case because when you go through your charts, depending on the platform that you use, there are a group of different timeframe charts to use and depending on what's happening on which particular currency pair, they can all show different directions.
Some are looking like the price is moving up and they're sort of green candles and others you could see the price is moving down and they're red. It causes a lot of confusion for people.
The merits of various time frame charts
What I want to do to help you is to just run through just briefly some of the merits of different timeframe charts and how you can best decide what works for you, because ultimately trading successfully is all about what works for you. Let's go through that, starting with the longer timeframe charts. Now if you use MT4/Meta Trader 4, you'll know that the monthly charts are the longest timeframe chart available to trade.
Now monthly chart is quite an unusual chart in that you have to wait a long, long, long time on most currency pairs before you get a really good trade setup. Now if you trade like me on the close of a candle, it's quite easy because basically you've got 12 times a year that you can go and look at your monthly charts and you think, is there a setup, yes or no. Monthly charts probably are not really for everybody because you have to wait a long time between trades. You have to accept that the trade's going to remain open for a long, long time as well or potentially for a long time. I'd probably say to most people, just leave the monthly charts.
However, if you're quite prepared to leave trades open, see them sort of move into profit and back into maybe a loss and be prepared for that longer term hold that position. If that's you, absolutely go for it. A lot of people do come to me and they'll say, look, I'm just too busy with work or family, other commitments, to sort of be looking at charts all day and night. If that's you, then maybe the monthly charts are a good option for you.
Trading the Weekly charts
You come down to the next timeframe and that on most platforms would be a weekly chart.
That to me probably personally, is one of the longer timeframe charts that I trade and I also post on my membership site for my clients weekly trading suggestions. I also post monthly but we don't get too many good setups. Weekly of course, you get sort of four times, sometimes five, depending on the month, within the weekly charts, within the month to go and look at. I like weekly charts, I think they're great. If you look through all the different currency pairs you can quite often see, I generally post somewhere between about sort of one and four weekly charts in a week.
At the odd time there are none if everything's a little bit sort of flat and indecisive but most times there are some good setups there. That then you need to make the decision of if you're going to close that at the end o...]]>473falsefullhttps://www.spreaker.com/episode/195-how-to-avoid-analysis-paralysis-in-your-trading--12231285
How To Avoid Analysis Paralysis In Your Trading
In this video:
00:17 – Video and Podcast #195
00:27 – Analysis Paralysis affects so many traders – Information Overload
01:14 – Forums are mostly the blind leading the blind
01:25 – How do you avoid Analysis Paralysis?
02:00 – I love flying a helicopter and Karate – need to make your own decisions
03:21 – Personally I prefer to trade the longer time frame charts
04:14 – Having the confidence in the strategy to take the trade
04:58 – You need a simplistic approach to trading
05:30 – Get my #1 trading strategy for free – click on the link below
How can you avoid analysis paralysis in your trading? Let's talk about that and more right now.
Video and Podcast #195
Hi, Forex Traders, Andrew Mitchem here, The Forex Trading Coach, and this is video and podcast #195.
Analysis Paralysis affects so many traders – Information Overload
In today's video and podcast I'm going to be talking about analysis paralysis. It's a big problem that affects so many Forex traders, and it doesn't really matter whether you're new or more experienced, it just affects people across the whole spectrum of Forex Trading.
The problem is there is so much information out there regarding trading. The Forex market is so big. You get things like this. You get cell phones, you can't get away from market analysis, Twitter feeds, CNBC with lines scrolling everywhere, latest updates, news announcements. There's experts giving their opinion. You get fundamental opinions. You get economists. You get technical opinions, or lines, and charts, and graphs in different time frames. It goes on, and on, and on and people get extremely confused.
Forums are mostly the blind leading the blind
You then get the problem when you get the vast majority of forum sites with people with different opinions and different techniques all giving different opinions at the same time. Again, it becomes complete information overload. It's a big, big problem.
How do you avoid Analysis Paralysis?
How do you avoid that? Well, firstly, you need to become your own independent trader. You need to be able to think for yourself and make a decision for yourself, because it's a thing that I believe that in society in general we're becoming worse and worse at that. People have no ability to be able to make their own decision or do what they think. It's like we have that herd mentality where we feel in society in order to fit in we have to do what everybody else does, and we have to sort of copy other people.
I love flying a helicopter and Karate – need to make your own decisions
In trading that's not always a good thing. You see, outside of trading two of the things I love are flying a helicopter and karate, and in both of those you have to be able to make your own decisions, your own informed decisions, think quickly, react, and back yourself, really. You need a lot of training, and knowledge, and education to get to that level, of course you do, but once you have that training, and knowledge, and education you've got to keep refining it, you have to keep practicing it, but you also have to have that spontaneous back yourself, make that instant decision when things either don't go wrong, or things go unexpected. You have to have that ability to see something and make a call, a judgment call on that right now.
Trading really is not a lot different. The way I like to trade is I like to see a trade, take a trade. You see, the market's either going to go up, it's going to go down, or it's going to go sideways. It's not going to do anything else, really, when you bring it down to the absolute basics. The problem is when you start taking on different news feeds, different opinions, you do get that analysis paralysis.]]>http://theforextradingcoach.com/?p=6592Sun, 18 Sep 2016 22:45:48 +0000Andrew MitchemPodcast: How To Avoid Analysis Paralysis In Your Trading In this video: 00:17 – Video and Podcast #195 00:27 – Analysis Paralysis affects so many traders – Information Overload 01:14 – Forums are mostly the blind leading the blind 01:25 – How do...
How To Avoid Analysis Paralysis In Your Trading
In this video:
00:17 – Video and Podcast #195
00:27 – Analysis Paralysis affects so many traders – Information Overload
01:14 – Forums are mostly the blind leading the blind
01:25 – How do you avoid Analysis Paralysis?
02:00 – I love flying a helicopter and Karate – need to make your own decisions
03:21 – Personally I prefer to trade the longer time frame charts
04:14 – Having the confidence in the strategy to take the trade
04:58 – You need a simplistic approach to trading
05:30 – Get my #1 trading strategy for free – click on the link below
How can you avoid analysis paralysis in your trading? Let's talk about that and more right now.
Video and Podcast #195
Hi, Forex Traders, Andrew Mitchem here, The Forex Trading Coach, and this is video and podcast #195.
Analysis Paralysis affects so many traders – Information Overload
In today's video and podcast I'm going to be talking about analysis paralysis. It's a big problem that affects so many Forex traders, and it doesn't really matter whether you're new or more experienced, it just affects people across the whole spectrum of Forex Trading.
The problem is there is so much information out there regarding trading. The Forex market is so big. You get things like this. You get cell phones, you can't get away from market analysis, Twitter feeds, CNBC with lines scrolling everywhere, latest updates, news announcements. There's experts giving their opinion. You get fundamental opinions. You get economists. You get technical opinions, or lines, and charts, and graphs in different time frames. It goes on, and on, and on and people get extremely confused.
Forums are mostly the blind leading the blind
You then get the problem when you get the vast majority of forum sites with people with different opinions and different techniques all giving different opinions at the same time. Again, it becomes complete information overload. It's a big, big problem.
How do you avoid Analysis Paralysis?
How do you avoid that? Well, firstly, you need to become your own independent trader. You need to be able to think for yourself and make a decision for yourself, because it's a thing that I believe that in society in general we're becoming worse and worse at that. People have no ability to be able to make their own decision or do what they think. It's like we have that herd mentality where we feel in society in order to fit in we have to do what everybody else does, and we have to sort of copy other people.
I love flying a helicopter and Karate – need to make your own decisions
In trading that's not always a good thing. You see, outside of trading two of the things I love are flying a helicopter and karate, and in both of those you have to be able to make your own decisions, your own informed decisions, think quickly, react, and back yourself, really. You need a lot of training, and knowledge, and education to get to that level, of course you do, but once you have that training, and knowledge, and education you've got to keep refining it, you have to keep practicing it, but you also have to have that spontaneous back yourself, make that instant decision when things either don't go wrong, or things go unexpected. You have to have that ability to see something and make a call, a judgment call on that right now.
Trading really is not a lot different. The way I like to trade is I like to see a trade, take a trade. You see, the market's either going to go up, it's going to go down, or it's going to go sideways. It's not going to do anything else, really, when you bring it down to the absolute basics. The problem is when you start taking on different news feeds, different opinions, you do get that analysis paralysis.]]>368falsefullhttps://www.spreaker.com/episode/194-is-it-really-possible-to-make-money-as-a-forex-trader--12231286
Is It Really Possible To Make Money As A Forex Trader?
In this video:
00:24 – Everybody has this same question – Can you make money as a small time Forex Trader?
00:59 – Reasons why so many traders fail to make money
01.50 – How it’s possible to make money as a Forex trader
03:00 – Daily trading suggestions and results
04:18 – Recent client’s testimonials – including clients who are now trading Forex full time
06:16 – How can you benefit from this information?
06:40 – Make sure you are one of the 5-10% of traders who are successful
Is it really possible to make money as a small-time Forex trader? Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 9th of September.
Everybody has this same question – Can you make money as a small time Forex Trader?
I want to talk about the question everybody asks. Is it really possible like, is it really, really possible for a small-time retail trader to made money on a regular basis in the Forex market. That's all most traders want to know. Is it possible? The answer is yes, but most people don't make money and there are so many reasons because you'll hear the stats that 90% to 95% of all Forex traders, all retail Forex traders lose money.
It's a well amount stat and it's probably true.
Reasons why so many traders fail to make money
Reasons why. Well, a number of reasons. People don't have a plan. They don't have a structure. They certainly don't have discipline. They don't have the emotion to cope with trading, to take losses or the greed when it comes to too much profit. People take too many trades, like they over-trade. They don't know whether they're a technical trader or a fundamental trader. They take too much risk per trade. They have a bit of an anger with trading. If they have losing trades, then they double up positions. They don't have stop losses. There's a whole number of reasons why people don't make money.
They don't have the knowledge. They don't really know what they're doing. They don't have education. They don't have support. Whatever it might be, there's just a huge number of reasons to back up that fact that 90%, 95% of people who trade, small-time Forex traders, lose money.
How it’s possible to make money as a Forex trader
But, it's definitely possible to make money, so let's talk about some reasons how it's possible, and give you some tips and information, and some proof around that. Okay, so for my clients, each day I put out on the membership site daily trading suggestions based off the daily charts. I do that every day at 5:00 PM New York time.
At the beginning of the week I do the same thing based on the weekly charts. Specific trades, why I'm taking the trades, the reasons for the entry, the exits and the specific levels, which is all taught in the course anyway, but it helps people in real time before the market's made a move for the day to see what I'm seeing and why. Now, of course some trades work and some don't. That's just trading, but I'm putting that information out there in advance of the market making its move for the new day. That's the only way you can really learn. There's no good in me saying, "Yesterday I might have done this or I did do that" because that's economists sort of speak.
I'm talking about, "This is what I'm looking at doing right now for the market right now in advance and moving." That's where you learn from, but also, that's where you can profit from because that's what my clients are doing.
Daily trading suggestions and results
If you did nothing else, then copy my daily trade suggestions once per day … Sometimes there are no trades. Other days there might be one to two trades. Today there was actually five,]]>http://theforextradingcoach.com/?p=6567Sun, 11 Sep 2016 22:56:40 +0000Andrew MitchemPodcast: Is It Really Possible To Make Money As A Forex Trader? In this video: 00:24 – Everybody has this same question – Can you make money as a small time Forex Trader? 00:59 – Reasons why so many traders fail to make money 01.50 – How it’s...
Is It Really Possible To Make Money As A Forex Trader?
In this video:
00:24 – Everybody has this same question – Can you make money as a small time Forex Trader?
00:59 – Reasons why so many traders fail to make money
01.50 – How it’s possible to make money as a Forex trader
03:00 – Daily trading suggestions and results
04:18 – Recent client’s testimonials – including clients who are now trading Forex full time
06:16 – How can you benefit from this information?
06:40 – Make sure you are one of the 5-10% of traders who are successful
Is it really possible to make money as a small-time Forex trader? Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 9th of September.
Everybody has this same question – Can you make money as a small time Forex Trader?
I want to talk about the question everybody asks. Is it really possible like, is it really, really possible for a small-time retail trader to made money on a regular basis in the Forex market. That's all most traders want to know. Is it possible? The answer is yes, but most people don't make money and there are so many reasons because you'll hear the stats that 90% to 95% of all Forex traders, all retail Forex traders lose money.
It's a well amount stat and it's probably true.
Reasons why so many traders fail to make money
Reasons why. Well, a number of reasons. People don't have a plan. They don't have a structure. They certainly don't have discipline. They don't have the emotion to cope with trading, to take losses or the greed when it comes to too much profit. People take too many trades, like they over-trade. They don't know whether they're a technical trader or a fundamental trader. They take too much risk per trade. They have a bit of an anger with trading. If they have losing trades, then they double up positions. They don't have stop losses. There's a whole number of reasons why people don't make money.
They don't have the knowledge. They don't really know what they're doing. They don't have education. They don't have support. Whatever it might be, there's just a huge number of reasons to back up that fact that 90%, 95% of people who trade, small-time Forex traders, lose money.
How it’s possible to make money as a Forex trader
But, it's definitely possible to make money, so let's talk about some reasons how it's possible, and give you some tips and information, and some proof around that. Okay, so for my clients, each day I put out on the membership site daily trading suggestions based off the daily charts. I do that every day at 5:00 PM New York time.
At the beginning of the week I do the same thing based on the weekly charts. Specific trades, why I'm taking the trades, the reasons for the entry, the exits and the specific levels, which is all taught in the course anyway, but it helps people in real time before the market's made a move for the day to see what I'm seeing and why. Now, of course some trades work and some don't. That's just trading, but I'm putting that information out there in advance of the market making its move for the new day. That's the only way you can really learn. There's no good in me saying, "Yesterday I might have done this or I did do that" because that's economists sort of speak.
I'm talking about, "This is what I'm looking at doing right now for the market right now in advance and moving." That's where you learn from, but also, that's where you can profit from because that's what my clients are doing.
Daily trading suggestions and results
If you did nothing else, then copy my daily trade suggestions once per day … Sometimes there are no trades. Other days there might be one to two trades. Today there was actually five,]]>461falsefullhttps://www.spreaker.com/episode/193-make-hay-while-the-sun-shines--12231289Make Hay While The Sun Shines
In this video:
00:28 – Difficult trading conditions last week but this week has been amazing
01:02 – Account up +4.6% for the week
01:28 – Important to trade the market conditions at the time
02:01 – When the trades are showing, you must take them
02:28 – Don’t get too greedy – be sensible
03:05 – Clients success stories mentioned on trading webinar
03:34 – Client becomes a full time Forex trader trades just a few minutes per day
04:32 – Great feedback from my free course – a link is below
05:03 – Strength and weakness helps you keep on the right side of the market
As a Forex trader, you need to learn how to make hay while the sun shines. Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach. Today is Friday the 2nd of September. I've got some wonderful news about making hay while the sun shines.
Difficult trading conditions last week but this week has been amazing
You see last week on last week's video and podcast, I said we had a really difficult trading week last week. Very quiet trading conditions, very difficult to get good trends or to get good technical trade set ups. There were a few, but very few.
This week a complete change. There have been very strong trends, continuous trends, wonderful setups, all over the place. I've had profit target after profit target. My clients have had that, the trade suggestions that I put out to clients on daily and weekly charts, strengths and weaknesses, everything has been an absolute dream week.
Account up +4.6% for the week
So far this week I'm up 4.6% on my live account with a half percent risk per trade, and clients who did nothing else than just copied my daily and weekly suggestions this week will be up that same amount plus trades that they've taken by themselves on other time frame charts. That's just with half of one percent risk, 4.6% gains so far this week.
Important to trade the market conditions at the time
The thing I want to mention is that when you get quiet trading conditions as last week, you have to have the mental ability to withstand a few losses, and also you have the mental ability to not take trades just for the sake of taking trades. All you're doing is feeding your brokers back pocket really and taking money from your account by forcing trades to show when they're not A grade setups. So that's one part of trading, the mental side of trading.
When the trades are showing, you must take them
Likewise you get this week, and when there's just trades all over the place, you have to take them, you have to make hay while the sun shines, according to our farming phrase. You know, when the conditions are good, you have to take the trades. You have to see the trades, take the trades. So don't get all gloom and doom from last week when there's nothing happening or you might be a bit disappointed with your strategy, because look at your trading on a longer term perspective.
Don’t get too greedy – be sensible
Likewise, when you get good trades this week, make sure you take those trades but also don't get too greedy.
Again, that's another important psychological part of trading. You see later today we have the US non-farm payrolls, the monthly employment data out of the US, so you've got to be sensible about these things. You have a major news announcement coming up later today, so if you've had a great week, don't spoil it by just taking silly trades or leaving your trades open over that news announcement, it's just pointless. If you've had a week like we've had this week, be sensible about it and don't go giving it all back to the market.
Clients success stories mentioned on trading webinar
I held a live webinar last night for my clients.]]>http://theforextradingcoach.com/?p=6550Sun, 04 Sep 2016 23:05:09 +0000Andrew MitchemPodcast: Make Hay While The Sun Shines In this video: 00:28 – Difficult trading conditions last week but this week has been amazing 01:02 – Account up +4.6% for the week 01:28 – Important to trade the market conditions at the time 02:01 – When the...Make Hay While The Sun Shines
In this video:
00:28 – Difficult trading conditions last week but this week has been amazing
01:02 – Account up +4.6% for the week
01:28 – Important to trade the market conditions at the time
02:01 – When the trades are showing, you must take them
02:28 – Don’t get too greedy – be sensible
03:05 – Clients success stories mentioned on trading webinar
03:34 – Client becomes a full time Forex trader trades just a few minutes per day
04:32 – Great feedback from my free course – a link is below
05:03 – Strength and weakness helps you keep on the right side of the market
As a Forex trader, you need to learn how to make hay while the sun shines. Let's talk about that and more right now.
Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach. Today is Friday the 2nd of September. I've got some wonderful news about making hay while the sun shines.
Difficult trading conditions last week but this week has been amazing
You see last week on last week's video and podcast, I said we had a really difficult trading week last week. Very quiet trading conditions, very difficult to get good trends or to get good technical trade set ups. There were a few, but very few.
This week a complete change. There have been very strong trends, continuous trends, wonderful setups, all over the place. I've had profit target after profit target. My clients have had that, the trade suggestions that I put out to clients on daily and weekly charts, strengths and weaknesses, everything has been an absolute dream week.
Account up +4.6% for the week
So far this week I'm up 4.6% on my live account with a half percent risk per trade, and clients who did nothing else than just copied my daily and weekly suggestions this week will be up that same amount plus trades that they've taken by themselves on other time frame charts. That's just with half of one percent risk, 4.6% gains so far this week.
Important to trade the market conditions at the time
The thing I want to mention is that when you get quiet trading conditions as last week, you have to have the mental ability to withstand a few losses, and also you have the mental ability to not take trades just for the sake of taking trades. All you're doing is feeding your brokers back pocket really and taking money from your account by forcing trades to show when they're not A grade setups. So that's one part of trading, the mental side of trading.
When the trades are showing, you must take them
Likewise you get this week, and when there's just trades all over the place, you have to take them, you have to make hay while the sun shines, according to our farming phrase. You know, when the conditions are good, you have to take the trades. You have to see the trades, take the trades. So don't get all gloom and doom from last week when there's nothing happening or you might be a bit disappointed with your strategy, because look at your trading on a longer term perspective.
Don’t get too greedy – be sensible
Likewise, when you get good trades this week, make sure you take those trades but also don't get too greedy.
Again, that's another important psychological part of trading. You see later today we have the US non-farm payrolls, the monthly employment data out of the US, so you've got to be sensible about these things. You have a major news announcement coming up later today, so if you've had a great week, don't spoil it by just taking silly trades or leaving your trades open over that news announcement, it's just pointless. If you've had a week like we've had this week, be sensible about it and don't go giving it all back to the market.
Clients success stories mentioned on trading webinar
I held a live webinar last night for my clients.]]>378falsefullhttps://www.spreaker.com/episode/192-flat-market-conditions-are-difficult-how-the-charts-can-help--12231287Flat Market Conditions are Difficult – How The Charts Can Help
In this video:
00:27 – A dull trading week with few quality setups
00:55 – We need to know how to deal with range bound market conditions
01:17 – Look at the bigger picture
01:35 – Trade what you see, not what you think
02:40 – When less is more
03:30 – Be patient and wait for better trading conditions
03:42 – Get your FREE copy of my #1 Trading Strategy by clicking the link below
I'm going to explain why I prefer being a technical trader even in flat market conditions. Let's get into that right now.
Hi Forex traders. Andrew Mitchem here, The Forex Trading Coach. Today is Friday the 26th of August.
A dull trading week with few quality setups
This week has been particularly dull on the charts. It's been a horrible trading week. There's been very little decent price actions, been very few quality set ups. The market has gone sideways. It's almost as if the market is waiting for something to happen in the market. Some news announcement or something. It's waiting for something to happen in order to kick-start it into action again in either direction.
Let's hope it happens really soon because this week has been a very hard week to trade.
We need to know how to deal with range bound market conditions
Let's talk about that because from time to time, as traders, we have to experience these flat, sideways moving markets. When there really is not a lot happening. It's important to become patient. That's a big point from today's video and podcast because patience and looking at the longer term perspective, the bigger picture, is really important as a Forex trader.
Look at the bigger picture
We all get so very caught up on taking in an individual trade, and yes that went really well, and now it lost and doom and gloom. It's important to look at the bigger picture. Look at your trading over a number of weeks, a number of months, etc, rather than just being worried about the last trade.
Trade what you see, not what you think
The great thing about being a technical trader in these current market conditions that we've experienced this week is that because I'm trading what I see and not what I think … There's an important point there. I'll say that again. I trade what I see, not what I think. As a technical trader, I trade what I see on the charts. What the charts are showing me right now.
If I look at the market as a fundamental trader, which I'm not, then I tend to bring my opinion into the market a little bit too much. When you get the sideways moving markets, you can probably get caught out far more than you can as a technical trader. As a technical trader, if there's nothing really shining, then I just have to have patience and I wait. I can scale down to the shorter time frame charts if I want to to look for shorter time frame trades, but personally, I don't tend to do that quite as much. I tend to stick to the charts that I like, and if they're not showing anything, then I just don't take anything.
Again, think of that bigger term picture, that longer term perspective. Don't worry about this week not taking much.
When less is more
Sometimes if you don't take very many trades in a week, that's fine. It just means that you don't have many opportunities and that's the way that the market conditions are. You then have to wait for those favorable conditions, and when they come, don’t be and then afraid to take trades. If they show, then definitely take them, if they're not showing then don't force trades, don't over trade. It's a really important balance there to get because of course, right at the time, you don't know really what the conditions are. It's only now at the end of the week, I can look back and say to you, "Look,]]>http://theforextradingcoach.com/?p=6538Sun, 28 Aug 2016 22:44:15 +0000Andrew MitchemPodcast: Flat Market Conditions are Difficult – How The Charts Can Help In this video: 00:27 – A dull trading week with few quality setups 00:55 – We need to know how to deal with range bound market conditions 01:17 – Look at the bigger picture...Flat Market Conditions are Difficult – How The Charts Can Help
In this video:
00:27 – A dull trading week with few quality setups
00:55 – We need to know how to deal with range bound market conditions
01:17 – Look at the bigger picture
01:35 – Trade what you see, not what you think
02:40 – When less is more
03:30 – Be patient and wait for better trading conditions
03:42 – Get your FREE copy of my #1 Trading Strategy by clicking the link below
I'm going to explain why I prefer being a technical trader even in flat market conditions. Let's get into that right now.
Hi Forex traders. Andrew Mitchem here, The Forex Trading Coach. Today is Friday the 26th of August.
A dull trading week with few quality setups
This week has been particularly dull on the charts. It's been a horrible trading week. There's been very little decent price actions, been very few quality set ups. The market has gone sideways. It's almost as if the market is waiting for something to happen in the market. Some news announcement or something. It's waiting for something to happen in order to kick-start it into action again in either direction.
Let's hope it happens really soon because this week has been a very hard week to trade.
We need to know how to deal with range bound market conditions
Let's talk about that because from time to time, as traders, we have to experience these flat, sideways moving markets. When there really is not a lot happening. It's important to become patient. That's a big point from today's video and podcast because patience and looking at the longer term perspective, the bigger picture, is really important as a Forex trader.
Look at the bigger picture
We all get so very caught up on taking in an individual trade, and yes that went really well, and now it lost and doom and gloom. It's important to look at the bigger picture. Look at your trading over a number of weeks, a number of months, etc, rather than just being worried about the last trade.
Trade what you see, not what you think
The great thing about being a technical trader in these current market conditions that we've experienced this week is that because I'm trading what I see and not what I think … There's an important point there. I'll say that again. I trade what I see, not what I think. As a technical trader, I trade what I see on the charts. What the charts are showing me right now.
If I look at the market as a fundamental trader, which I'm not, then I tend to bring my opinion into the market a little bit too much. When you get the sideways moving markets, you can probably get caught out far more than you can as a technical trader. As a technical trader, if there's nothing really shining, then I just have to have patience and I wait. I can scale down to the shorter time frame charts if I want to to look for shorter time frame trades, but personally, I don't tend to do that quite as much. I tend to stick to the charts that I like, and if they're not showing anything, then I just don't take anything.
Again, think of that bigger term picture, that longer term perspective. Don't worry about this week not taking much.
When less is more
Sometimes if you don't take very many trades in a week, that's fine. It just means that you don't have many opportunities and that's the way that the market conditions are. You then have to wait for those favorable conditions, and when they come, don’t be and then afraid to take trades. If they show, then definitely take them, if they're not showing then don't force trades, don't over trade. It's a really important balance there to get because of course, right at the time, you don't know really what the conditions are. It's only now at the end of the week, I can look back and say to you, "Look,]]>245falsefullhttps://www.spreaker.com/episode/191-how-to-trade-in-10-minutes-a-day-or-less--12231288 How to trade in 10 minutes a day or less
In this video:
00:29 – On holiday in the South of France and made +2.2% account gain this week
00:39 – 10 minutes trading per day and clients can copy the same trades
01:23 – You don’t need to be glued to the screen all day
01:43 – The USD/CAD has fallen well this week
01:55 – GBP weakness continues. How to look for suitable opportunities
02:48 – Continuation and reversal patterns
03:40 – High reward:risk trades
04:30 – A bigger gain in 1 week than the French banks will pay in 1 year
If you'd like to know how to trade in just 10 minutes a day or less, find out more. I've got some great tips for you.
I'm Forex Trader's Andrew Mitchem, The Forex Trading Coach. Today is Friday the 19th of August and I'm on holiday in the beautiful South of France, as you can see behind me here. Beautiful villages, great place to look around.
On holiday in the South of France and made +2.2% account gain this week
Now I‘ve been here for the last week and this week I've made 2.2% on my accounts so far and that's from just 10 minutes work once per day, trading just the daily charts.
10 minutes trading per day and clients can copy the same trades
For my clients they could copy exactly the same trades or have copied exactly the same trades and done just as well, plus, of course, they could be taking trades on other time frames as well. The 2.2 is just from me taking just 10 minutes work once a day in the evening over here, which is the 5PM close of New York charts. It shows what can be done. You don't need to be glued to your charts all the time. You can travel, you can be here on holiday. For me, on the other side of the world with my son, having a great time looking around, and in the evening looking through the daily charts, placing a trade and then just letting the market do its thing.
You don’t need to be glued to the screen all day
From there, what can we learn? Well on the chart, first from that we can learn, as I've mentioned, you don't have to be glued to the screen all day, because so many people think that they have to be tied to the charts. That's fine if you like those shorter time frame charts but you don't have to do that all the time. Far less stress by trading longer time frame charts as well.
The USD/CAD has fallen well this week
On the charts we've seen the US/Canadian dollar falling this week. We've also seen a little bit of strength in the Aussie dollar and the New Zealand dollar, so the commodity currencies have shown a bit of strength.
GBP weakness continues. How to look for suitable opportunities
One thing I did want to mention is earlier in this week or the last few weeks, as you know the British pound's continuing to fall and fall. It keeps dropping. However, earlier this week I actually took a buy trade-in. I suggested to clients a buy trade-in and I suggested freely available on my website to look for buy trades on the British pound pairs earlier in the week. In particular I took a trade on the British pound/Australia dollar. It made fantastic profit and it was a kind of a reversal trade because the pound/Aussie and the pound against all currencies has been falling quite a lot.
It looked like it was bottoming out and I took a reversal trade, as in after the downtrend had occurred, looking to buy it back again. Because it was against such a massive previous trend I was aware that it was a slightly higher risk trade but it was also a reversal trade against, I suppose, the longer-term trend.
Continuation and reversal patterns
By exiting the way that I teach and the way that I trade, it meant I was out of the trade full profit. Now as I've looked at the charts just before I made this video, the pound/Australian dollar's now starting to fall away again and all the poun...]]>http://theforextradingcoach.com/?p=6529Sun, 21 Aug 2016 23:07:26 +0000Andrew MitchemPodcast: How to trade in 10 minutes a day or less In this video: 00:29 – On holiday in the South of France and made +2.2% account gain this week 00:39 – 10 minutes trading per day and clients can copy the same trades 01:23 – You don’t need to be... How to trade in 10 minutes a day or less
In this video:
00:29 – On holiday in the South of France and made +2.2% account gain this week
00:39 – 10 minutes trading per day and clients can copy the same trades
01:23 – You don’t need to be glued to the screen all day
01:43 – The USD/CAD has fallen well this week
01:55 – GBP weakness continues. How to look for suitable opportunities
02:48 – Continuation and reversal patterns
03:40 – High reward:risk trades
04:30 – A bigger gain in 1 week than the French banks will pay in 1 year
If you'd like to know how to trade in just 10 minutes a day or less, find out more. I've got some great tips for you.
I'm Forex Trader's Andrew Mitchem, The Forex Trading Coach. Today is Friday the 19th of August and I'm on holiday in the beautiful South of France, as you can see behind me here. Beautiful villages, great place to look around.
On holiday in the South of France and made +2.2% account gain this week
Now I‘ve been here for the last week and this week I've made 2.2% on my accounts so far and that's from just 10 minutes work once per day, trading just the daily charts.
10 minutes trading per day and clients can copy the same trades
For my clients they could copy exactly the same trades or have copied exactly the same trades and done just as well, plus, of course, they could be taking trades on other time frames as well. The 2.2 is just from me taking just 10 minutes work once a day in the evening over here, which is the 5PM close of New York charts. It shows what can be done. You don't need to be glued to your charts all the time. You can travel, you can be here on holiday. For me, on the other side of the world with my son, having a great time looking around, and in the evening looking through the daily charts, placing a trade and then just letting the market do its thing.
You don’t need to be glued to the screen all day
From there, what can we learn? Well on the chart, first from that we can learn, as I've mentioned, you don't have to be glued to the screen all day, because so many people think that they have to be tied to the charts. That's fine if you like those shorter time frame charts but you don't have to do that all the time. Far less stress by trading longer time frame charts as well.
The USD/CAD has fallen well this week
On the charts we've seen the US/Canadian dollar falling this week. We've also seen a little bit of strength in the Aussie dollar and the New Zealand dollar, so the commodity currencies have shown a bit of strength.
GBP weakness continues. How to look for suitable opportunities
One thing I did want to mention is earlier in this week or the last few weeks, as you know the British pound's continuing to fall and fall. It keeps dropping. However, earlier this week I actually took a buy trade-in. I suggested to clients a buy trade-in and I suggested freely available on my website to look for buy trades on the British pound pairs earlier in the week. In particular I took a trade on the British pound/Australia dollar. It made fantastic profit and it was a kind of a reversal trade because the pound/Aussie and the pound against all currencies has been falling quite a lot.
It looked like it was bottoming out and I took a reversal trade, as in after the downtrend had occurred, looking to buy it back again. Because it was against such a massive previous trend I was aware that it was a slightly higher risk trade but it was also a reversal trade against, I suppose, the longer-term trend.
Continuation and reversal patterns
By exiting the way that I teach and the way that I trade, it meant I was out of the trade full profit. Now as I've looked at the charts just before I made this video, the pound/Australian dollar's now starting to fall away again and all the poun...]]>312falsefullhttps://www.spreaker.com/episode/192-the-advantages-of-using-the-weekly-charts--12231290
The advantages of using the Weekly charts
In this video:
00:42 – Helping you gain an overall longer term perspective
01:43 – Overall strength in the JPY and NZD, with weakness in the USD, EUR, GBP and CHF
02:08 – Adding probability by having the W1 and D1 charts showing the same direction
03:05 – Interest rates dropped to 0.25% in the UK
03:42 – Took trades live on my webinar for a +2.15% net gain
04:45 – The Weekly charts take just a few minutes to place
05:28 – #1 Engulfing candle strategy available for free
I would like to share with the advantages of using the weekly charts. How you can use them, how you can profit from them. Let's talk about that and more right now.
Hi Forex trader, Andrew Michem. The Forex Trading Coach to day is Friday the 5th of August. I want to talk about using a longer term perspective and what I do for long term perspective is, I use the weekly charts. They are a fantastic time frame to look at, to give you an overall longer term gauge at what's happening, what's likely to be coming into the next week.
Helping you gain an overall longer term perspective
What I do is at the beginning of each week I look at all my different character pairs, look at the weekly charts and then I post them on my membership site for clients. Trades that I'm looking at, specific trades bases on the weekly charts. Buy and sell trades and having the entry and exist levels there for people to use. Also trades that I can't see, or currency pairs that I can't see a trade on, but where I see a likely movement up or down for that week.
What I mean by that is that some currency pairs are showing really good technical setups, some are showing strength or weakness, but maybe they're not perfect trades in themselves based off the weekly chart. Longer term for that week, I‘m seeing strength or weakness in a currency pair.
I post all that for clients to use. Now how can we use that, well this week as an example. I have been looking at strength in the Japanese Yen, strength in the New Zealand Dollar.
Overall strength in the JPY and NZD, with weakness in the USD, EUR, GBP and CHF
Little bit of strength in the Aussie Dollar also. I've also been looking for weakness this week in the US Dollar, the Euro, the British Pound and the Swiss Franc. When you get that longer term perspective, it really helps you when you trade down onto the shorter time frame charts.
As an example, if I see the weekly chart and a daily chart all setting up in the same direction, in the same week, then fantastic, that really adds to my probability.
Adding probability by having the W1 and D1 charts showing the same direction
Likewise, when I go down to anything shorter, say like twelve hour charts, four hour charts, one hour charts. If I can have the weekly direction and even maybe the daily direction and a shorter term direction, all showing at the same time. Then fantastic, it adds again to probability, because the longer term, medium term and right now on the shorter term. They're all showing same currency pair, same direction. Fantastic when that happens.
What I've done this week, I've mentioned twice this week on the daily charts. I've been looking for sell trades, Euro, Yen and Franc Yen. I've also got weekly charts showing with the same thing and so again it just adds to probability. Those trades have been fantastic. Go and look at your charts, you'll see the Euro Yen, the Franc Yen, has just falling fantastically well.
Interest rates dropped to 0.25% in the UK
Likewise, I have been looking for sell trades on most of the British Pound pairs. You note that yesterday, Thursday the interest rate out of Britain dropped. They half their interest rates down to 0.2/5 percent from 0.5 percent,]]>http://theforextradingcoach.com/?p=6516Sun, 07 Aug 2016 23:04:21 +0000Andrew MitchemPodcast: The advantages of using the Weekly charts In this video: 00:42 – Helping you gain an overall longer term perspective 01:43 – Overall strength in the JPY and NZD, with weakness in the USD, EUR, GBP and CHF 02:08 – Adding probability by...
The advantages of using the Weekly charts
In this video:
00:42 – Helping you gain an overall longer term perspective
01:43 – Overall strength in the JPY and NZD, with weakness in the USD, EUR, GBP and CHF
02:08 – Adding probability by having the W1 and D1 charts showing the same direction
03:05 – Interest rates dropped to 0.25% in the UK
03:42 – Took trades live on my webinar for a +2.15% net gain
04:45 – The Weekly charts take just a few minutes to place
05:28 – #1 Engulfing candle strategy available for free
I would like to share with the advantages of using the weekly charts. How you can use them, how you can profit from them. Let's talk about that and more right now.
Hi Forex trader, Andrew Michem. The Forex Trading Coach to day is Friday the 5th of August. I want to talk about using a longer term perspective and what I do for long term perspective is, I use the weekly charts. They are a fantastic time frame to look at, to give you an overall longer term gauge at what's happening, what's likely to be coming into the next week.
Helping you gain an overall longer term perspective
What I do is at the beginning of each week I look at all my different character pairs, look at the weekly charts and then I post them on my membership site for clients. Trades that I'm looking at, specific trades bases on the weekly charts. Buy and sell trades and having the entry and exist levels there for people to use. Also trades that I can't see, or currency pairs that I can't see a trade on, but where I see a likely movement up or down for that week.
What I mean by that is that some currency pairs are showing really good technical setups, some are showing strength or weakness, but maybe they're not perfect trades in themselves based off the weekly chart. Longer term for that week, I‘m seeing strength or weakness in a currency pair.
I post all that for clients to use. Now how can we use that, well this week as an example. I have been looking at strength in the Japanese Yen, strength in the New Zealand Dollar.
Overall strength in the JPY and NZD, with weakness in the USD, EUR, GBP and CHF
Little bit of strength in the Aussie Dollar also. I've also been looking for weakness this week in the US Dollar, the Euro, the British Pound and the Swiss Franc. When you get that longer term perspective, it really helps you when you trade down onto the shorter time frame charts.
As an example, if I see the weekly chart and a daily chart all setting up in the same direction, in the same week, then fantastic, that really adds to my probability.
Adding probability by having the W1 and D1 charts showing the same direction
Likewise, when I go down to anything shorter, say like twelve hour charts, four hour charts, one hour charts. If I can have the weekly direction and even maybe the daily direction and a shorter term direction, all showing at the same time. Then fantastic, it adds again to probability, because the longer term, medium term and right now on the shorter term. They're all showing same currency pair, same direction. Fantastic when that happens.
What I've done this week, I've mentioned twice this week on the daily charts. I've been looking for sell trades, Euro, Yen and Franc Yen. I've also got weekly charts showing with the same thing and so again it just adds to probability. Those trades have been fantastic. Go and look at your charts, you'll see the Euro Yen, the Franc Yen, has just falling fantastically well.
Interest rates dropped to 0.25% in the UK
Likewise, I have been looking for sell trades on most of the British Pound pairs. You note that yesterday, Thursday the interest rate out of Britain dropped. They half their interest rates down to 0.2/5 percent from 0.5 percent,]]>368falsefullhttps://www.spreaker.com/episode/189-get-free-access-to-my-new-forex-course--12231291
Get Free Access to My New Forex Course
In this video:
00:22 – Get free access to my brand new Forex Trading Course
00:35 – Amazing survey results, so many people do not have a good strategy
01:05 – I’ve put together a free course – click on the link below the video
01:50 – Selling the GBP/JPY and USD/JPY – posted for clients on Monday
02:08 – A new Forum site launched for my coaching clients adds real time learning
03:18 – Quiet trading conditions due to Northern Hemisphere summer holidays
03:50 – Flat trading conditions and how to deal with this kind of market
04:48 – Recapping the 3 main points from this video
Would you like to get access to my new, free, forex trading course? If you would, listen up, got some great news for you.
Hi, forex traders. Andrew Mitchem, here, The Forex Trading Coach. Today is Friday, the 29th of July.
Get free access to my brand new Forex Trading Course
I've got some fantastic news for you, if you would like to get access, for free, to my brand new trading course which has been made available just this week. Now, I want to explain a little bit about this, first.
Amazing survey results, so many people do not have a good strategy
You see, a few weeks ago, I surveyed over 15,000 active forex traders and the results that I got just completely blew me away. There are so many people out there who do not have other strategy that they trust or a strategy that's making money for them. There's just so many people. I think the figure was like 84% of people who replied to the survey, said, "I don't have a good forex trading strategy," so I thought, "well, I need to do something about that. There's obviously a lot of people out there, needing some help."
I’ve put together a free course – click on the link below the video
What I've done is I have put together a free course. You can get access to it by clicking on a link below this video, and that course will give you access to one part of my forex course. It's a strategy that will work fantastically well. It will give you an understanding of technical trading. It will give you an understanding of the way that I trade, and the way that I teach. It won't tell you everything that's in my overall course. I'm not going to be giving that away for free, of course, for obvious reasons, but this strategy will help you understand technical trading. It will help you to make some money out of the trading, and it will give you an idea of technical trading and how I use strength and weakness each day of the trading week to profit from the forex.
Selling the GBP/JPY and USD/JPY – posted for clients on Monday
You can get that for free, right now, just by click on the link below this video. There's no credit card required. There's nothing at all. Just enter your details and you'll have access straight away to that free course on my membership site.
A new Forum site launched for my coaching clients adds real time learning
Now, the other thing that I want to let you know is that another great bit of news this week; after quite a long time of putting this together, I've just launched a forum for my clients. This is a forex forum for my coaching clients only. What it means is, we now have a place where we can interact with each other, talk with each other, all my clients can talk together over different trades that they see in real time. Like I have my membership site where I post trades, specific trades, myself everyday of the trading week plus strengths and weaknesses and currency directions. That's something that clients can get already, and every two weeks, I hold a live trading room webinar which lasts for at least two hours.
There's all that going on anyway, but what I've done now by entering and introducing the forum is th...]]>http://theforextradingcoach.com/?p=6498Sun, 31 Jul 2016 23:12:41 +0000Andrew MitchemPodcast: Get Free Access to My New Forex Course In this video: 00:22 – Get free access to my brand new Forex Trading Course 00:35 – Amazing survey results, so many people do not have a good strategy 01:05 – I’ve put together a free course –...
Get Free Access to My New Forex Course
In this video:
00:22 – Get free access to my brand new Forex Trading Course
00:35 – Amazing survey results, so many people do not have a good strategy
01:05 – I’ve put together a free course – click on the link below the video
01:50 – Selling the GBP/JPY and USD/JPY – posted for clients on Monday
02:08 – A new Forum site launched for my coaching clients adds real time learning
03:18 – Quiet trading conditions due to Northern Hemisphere summer holidays
03:50 – Flat trading conditions and how to deal with this kind of market
04:48 – Recapping the 3 main points from this video
Would you like to get access to my new, free, forex trading course? If you would, listen up, got some great news for you.
Hi, forex traders. Andrew Mitchem, here, The Forex Trading Coach. Today is Friday, the 29th of July.
Get free access to my brand new Forex Trading Course
I've got some fantastic news for you, if you would like to get access, for free, to my brand new trading course which has been made available just this week. Now, I want to explain a little bit about this, first.
Amazing survey results, so many people do not have a good strategy
You see, a few weeks ago, I surveyed over 15,000 active forex traders and the results that I got just completely blew me away. There are so many people out there who do not have other strategy that they trust or a strategy that's making money for them. There's just so many people. I think the figure was like 84% of people who replied to the survey, said, "I don't have a good forex trading strategy," so I thought, "well, I need to do something about that. There's obviously a lot of people out there, needing some help."
I’ve put together a free course – click on the link below the video
What I've done is I have put together a free course. You can get access to it by clicking on a link below this video, and that course will give you access to one part of my forex course. It's a strategy that will work fantastically well. It will give you an understanding of technical trading. It will give you an understanding of the way that I trade, and the way that I teach. It won't tell you everything that's in my overall course. I'm not going to be giving that away for free, of course, for obvious reasons, but this strategy will help you understand technical trading. It will help you to make some money out of the trading, and it will give you an idea of technical trading and how I use strength and weakness each day of the trading week to profit from the forex.
Selling the GBP/JPY and USD/JPY – posted for clients on Monday
You can get that for free, right now, just by click on the link below this video. There's no credit card required. There's nothing at all. Just enter your details and you'll have access straight away to that free course on my membership site.
A new Forum site launched for my coaching clients adds real time learning
Now, the other thing that I want to let you know is that another great bit of news this week; after quite a long time of putting this together, I've just launched a forum for my clients. This is a forex forum for my coaching clients only. What it means is, we now have a place where we can interact with each other, talk with each other, all my clients can talk together over different trades that they see in real time. Like I have my membership site where I post trades, specific trades, myself everyday of the trading week plus strengths and weaknesses and currency directions. That's something that clients can get already, and every two weeks, I hold a live trading room webinar which lasts for at least two hours.
There's all that going on anyway, but what I've done now by entering and introducing the forum is th...]]>315falsefullhttps://www.spreaker.com/episode/188-is-forex-trading-right-for-you--12231292
Is Forex Trading Right for You?
In this video:
00:26 – Very few people talk about this subject
00:50 – You have to do the ground work first
01:50 – Trade for 20 minutes once per day – but only once you know what you are doing
02:29 – Don’t force yourself to make money from day 1
03:01 – Are you right for this?
03:33 – I want to help the right type of person – the committed person
04:40 – 3 x H12 trades taken on my live webinar
05:12 – Daily trade suggestions at +25% for the year
05:35 – Weekly trade suggestions at +22% for the year
It's important to make sure that Forex Trading is right for you. Let's talk about that and we will right now.
Hello, Forex Traders it's Andrew Mitchem here the owner of The Forex Trading Coach, today it's Friday the 22nd of July.
Very few people talk about this subject
I want to talk about a subject that very few people talk about especially people online. I want to talk about the importance of making sure that you are the right kind of person to become a Forex Trader. You see everybody out there tell you that Forex is the best thing, and you can make a fortune, and you just need to plug and play a robot and all your problems are solved. That's not true.
You have to do the ground work first
Forex is an amazing market to trade, but you have to do the grand work first. It's a slightly, and I suppose a harsh reality, a boring but true type of podcast and video this week, but it's highly, highly important. Let's get into some truths. Forex trading is not for everybody. Definitely it’s not you have to be the right type of person. You have to want to learn to trade Forex, you have to get a buzz or a thrill out of trading, out of watching charts, out of seeing why the charts are moving, what's behind it, what are the reasons. It's not just about thinking that you're going to sit back, plug in a robot or an expert adviser, and it solves all your problems. It's not about sitting on a beach with a laptop and taking a trade and forgetting about it, it's just not that at all.
Sure, when you understand trading, and you get into it more and you like to trade those longer time frame charts.
Trade for 20 minutes once per day – but only once you know what you are doing
Sure you don't need to be sitting there watching charts all day long. I certainly don't do that. In fact, if I'm just trading daily and weekly charts, when I'm away on holiday, I trade for probably for 20 minutes once a day, and that's it, but it doesn't start like that. If you're at the very beginning of trading, you have to put the time in, put the hard work, put the foundation into understanding trading, and it's really important that you do that. Even if you have done some of that, you still need to be the right type of person. You have to have a control over your emotions.
You must not be trading just simply because you want to solve all your life's financial issues. You can't do that.
Don’t force yourself to make money from day 1
The amount of people that come to me and say, "Hey Andrew, I need to make $5,000 a month or $10,000 a week," whatever it might be. People come to me daily with these kinds of things "How much can I make out of this?" "I've heard that it's the best thing that I can make a fortune. How much can I make?" The thing is I don't know how much you can make. I can tell you how much I make and I can tell you how much the vast majority of my clients make, but I cannot tell you how much you are going to make because I don't know anything about you.
I don't know your personality, I don't know if you're going to be the sort of person to throw all your toys out of the cot if a couple of trades go wrong.
Are you right for this?]]>http://theforextradingcoach.com/?p=6485Sun, 24 Jul 2016 23:04:42 +0000Andrew MitchemPodcast: Is Forex Trading Right for You? In this video: 00:26 – Very few people talk about this subject 00:50 – You have to do the ground work first 01:50 – Trade for 20 minutes once per day – but only once you know what you are doing 02:29 –...
Is Forex Trading Right for You?
In this video:
00:26 – Very few people talk about this subject
00:50 – You have to do the ground work first
01:50 – Trade for 20 minutes once per day – but only once you know what you are doing
02:29 – Don’t force yourself to make money from day 1
03:01 – Are you right for this?
03:33 – I want to help the right type of person – the committed person
04:40 – 3 x H12 trades taken on my live webinar
05:12 – Daily trade suggestions at +25% for the year
05:35 – Weekly trade suggestions at +22% for the year
It's important to make sure that Forex Trading is right for you. Let's talk about that and we will right now.
Hello, Forex Traders it's Andrew Mitchem here the owner of The Forex Trading Coach, today it's Friday the 22nd of July.
Very few people talk about this subject
I want to talk about a subject that very few people talk about especially people online. I want to talk about the importance of making sure that you are the right kind of person to become a Forex Trader. You see everybody out there tell you that Forex is the best thing, and you can make a fortune, and you just need to plug and play a robot and all your problems are solved. That's not true.
You have to do the ground work first
Forex is an amazing market to trade, but you have to do the grand work first. It's a slightly, and I suppose a harsh reality, a boring but true type of podcast and video this week, but it's highly, highly important. Let's get into some truths. Forex trading is not for everybody. Definitely it’s not you have to be the right type of person. You have to want to learn to trade Forex, you have to get a buzz or a thrill out of trading, out of watching charts, out of seeing why the charts are moving, what's behind it, what are the reasons. It's not just about thinking that you're going to sit back, plug in a robot or an expert adviser, and it solves all your problems. It's not about sitting on a beach with a laptop and taking a trade and forgetting about it, it's just not that at all.
Sure, when you understand trading, and you get into it more and you like to trade those longer time frame charts.
Trade for 20 minutes once per day – but only once you know what you are doing
Sure you don't need to be sitting there watching charts all day long. I certainly don't do that. In fact, if I'm just trading daily and weekly charts, when I'm away on holiday, I trade for probably for 20 minutes once a day, and that's it, but it doesn't start like that. If you're at the very beginning of trading, you have to put the time in, put the hard work, put the foundation into understanding trading, and it's really important that you do that. Even if you have done some of that, you still need to be the right type of person. You have to have a control over your emotions.
You must not be trading just simply because you want to solve all your life's financial issues. You can't do that.
Don’t force yourself to make money from day 1
The amount of people that come to me and say, "Hey Andrew, I need to make $5,000 a month or $10,000 a week," whatever it might be. People come to me daily with these kinds of things "How much can I make out of this?" "I've heard that it's the best thing that I can make a fortune. How much can I make?" The thing is I don't know how much you can make. I can tell you how much I make and I can tell you how much the vast majority of my clients make, but I cannot tell you how much you are going to make because I don't know anything about you.
I don't know your personality, I don't know if you're going to be the sort of person to throw all your toys out of the cot if a couple of trades go wrong.
Are you right for this?]]>423falsefullhttps://www.spreaker.com/episode/187-future-proof-yourself-and-why-it-really-matters--12231294
Future proof yourself and why it really matters
In this video:
00:29 – Watching Brett McFall’s video showing social trends
01:01 – How debt and baby boomers are affecting the economy
01:45 – Baby boomers now retiring – less people paying taxes
02:16 – Sources of employment are drying up – A.I and Automation are taking over
03:18 – Retirements funds are not big enough to live on for the majority
04:09 – You cannot stop or change what’s going to happen
04:30 – How Forex trading can help to future proof yourself
05:10 – Start small and learn “how” to trade
05:30 – The amount you can earn is not directly related to how many hours you work
06:20 – Get away from the x hours work for x payment mentality
It's time to future-proof yourself, and invest in your own education. Let's talk about that and more, right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 15th of July. I wanted to talk about why you need to invest in yourself, and why you need to future-proof yourself.
Watching Brett McFall’s video showing social trends
You see, I've been watching a video by a guy over in Australia, called Brett McFall. I've been following Brett for many years, probably ten, twelve years, or so. He's released a video that shows some very interesting, but also, some very worrying social trends that are out there. He lists three main concerns that people need to understand, be aware of, and also, you need to have a plan in place, so that these trends don't affect you too much.
How debt and baby boomers are affecting the economy
The first thing he talks about is these three dangerous trends. The first dangerous trend is how debt and baby boomers are affecting the economy. It's a really interesting thing. He's talking about Australia, but this same principle can be applied to most of the western world. He's talking about how debt is strangling the economy in all countries, as a result of interest repayments, and this can be personal repayments, right through to government repayments. The amount of money being wasted on interest repayments severely affects the lack of infrastructure that can be built, because everybody's getting into more and more debt.
Baby boomers now retiring – less people paying taxes
You add on top of that, the number of baby boomers that are now retiring. You're getting all these people who have been earning money, coming out of the work place. Now they're getting to an age where they're going to start to take money, in terms of health and retirement funds, etc. There's a real issue there, because now there's less people paying taxes, but more people taking or needing those tax payments. That becomes the first social worrying trend.
Sources of employment are drying up – A.I and Automation are taking over
The second one is that sources of employment are severely drying up. You look around the world, the amount of automation, the amount of artificial intelligence that's happening. It's a really exciting thing, and we can really benefit. You can take advantage of this artificial intelligence and automation that's going on, to help run a business better, to save time, save cost, countries all around the world, etc. All that is fantastic, but as an employee, it can be quite dangerous, because artificial intelligence is going to take away so many jobs in careers that right now, traditionally, have been very good and safe careers. This is not quite in place, yet, but it's something that's coming. As artificial intelligence becomes a higher reliability, it's something that could create a lot more unemployment. You add that to the first scenario, and you're now getting even more people without jobs, which means there's even less people paying taxes.]]>http://theforextradingcoach.com/?p=6474Sun, 17 Jul 2016 22:45:12 +0000Andrew MitchemPodcast: Future proof yourself and why it really matters In this video: 00:29 – Watching Brett McFall’s video showing social trends 01:01 – How debt and baby boomers are affecting the economy 01:45 – Baby boomers now retiring – less people paying...
Future proof yourself and why it really matters
In this video:
00:29 – Watching Brett McFall’s video showing social trends
01:01 – How debt and baby boomers are affecting the economy
01:45 – Baby boomers now retiring – less people paying taxes
02:16 – Sources of employment are drying up – A.I and Automation are taking over
03:18 – Retirements funds are not big enough to live on for the majority
04:09 – You cannot stop or change what’s going to happen
04:30 – How Forex trading can help to future proof yourself
05:10 – Start small and learn “how” to trade
05:30 – The amount you can earn is not directly related to how many hours you work
06:20 – Get away from the x hours work for x payment mentality
It's time to future-proof yourself, and invest in your own education. Let's talk about that and more, right now.
Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 15th of July. I wanted to talk about why you need to invest in yourself, and why you need to future-proof yourself.
Watching Brett McFall’s video showing social trends
You see, I've been watching a video by a guy over in Australia, called Brett McFall. I've been following Brett for many years, probably ten, twelve years, or so. He's released a video that shows some very interesting, but also, some very worrying social trends that are out there. He lists three main concerns that people need to understand, be aware of, and also, you need to have a plan in place, so that these trends don't affect you too much.
How debt and baby boomers are affecting the economy
The first thing he talks about is these three dangerous trends. The first dangerous trend is how debt and baby boomers are affecting the economy. It's a really interesting thing. He's talking about Australia, but this same principle can be applied to most of the western world. He's talking about how debt is strangling the economy in all countries, as a result of interest repayments, and this can be personal repayments, right through to government repayments. The amount of money being wasted on interest repayments severely affects the lack of infrastructure that can be built, because everybody's getting into more and more debt.
Baby boomers now retiring – less people paying taxes
You add on top of that, the number of baby boomers that are now retiring. You're getting all these people who have been earning money, coming out of the work place. Now they're getting to an age where they're going to start to take money, in terms of health and retirement funds, etc. There's a real issue there, because now there's less people paying taxes, but more people taking or needing those tax payments. That becomes the first social worrying trend.
Sources of employment are drying up – A.I and Automation are taking over
The second one is that sources of employment are severely drying up. You look around the world, the amount of automation, the amount of artificial intelligence that's happening. It's a really exciting thing, and we can really benefit. You can take advantage of this artificial intelligence and automation that's going on, to help run a business better, to save time, save cost, countries all around the world, etc. All that is fantastic, but as an employee, it can be quite dangerous, because artificial intelligence is going to take away so many jobs in careers that right now, traditionally, have been very good and safe careers. This is not quite in place, yet, but it's something that's coming. As artificial intelligence becomes a higher reliability, it's something that could create a lot more unemployment. You add that to the first scenario, and you're now getting even more people without jobs, which means there's even less people paying taxes.]]>440falsefullhttps://www.spreaker.com/episode/186-amazing-trading-conditions-with-big-trends--12231293
Amazing trading conditions with big trends
In this video:
00:25 – Huge trends and conditions like this not seen for many years
00:53 – Kick started by Brexit conditions, selling the Pound
01:18 – Selling the GBP/NZD pair on H1 and H6 charts
02:03 – Great trades with high reward:risk on H6 and H12 charts
02:30 – Buying the NZD pairs
03:00 – GBP/NZD dropped over 4000 pips since the end of May
03:50 – Big trends so take advantage of them right now
04:10 – Close out of positions before the US Employment news
04:35 – Enjoy riding these big trends and make money from them
We are in the middle of some amazing trading conditions. If you're not making money you need to listen to this.
Hi Forex traders, Andrew Mitchem, The Forex Trading Coach. Today is Friday the 8th of July and we just have some amazing trading conditions in the Forex market right now.
Huge trends and conditions like this not seen for many years
It's just an absolute wonderful time to be a Forex trader. There's just some huge trends in the market and the conditions are something like I've not seen for many years. Back in so, 2010, 11, 12, through those times there was some excellent, excellent trends. Some great movements on the charts. Then we've seen a couple years where it's been a little bit sort of harder to trade and now we're getting those big moves back into the market again.
Kick started by Brexit conditions, selling the Pound
Of course things like Brexit have certainly helped contribute to that over the last few weeks. Really when you think about what's happened to that since 2 weeks ago when we had the Brexit decision there's just been some amazing opportunities selling the British pound pairs.
Most of the pairs have moved but the British pound ones in particular have just been fantastic pairs to trade, looking for the pound to weaken all of the time. To give you some examples:
Selling the GBP/NZD pair on H1 and H6 charts
I took a trade just yesterday on a live webinar with my clients. We had a couple hundred people on their live and I took a trade on the 1 hour charts selling the British pound/New Zealand dollar. It fell away and it made a 2 to 1 trade in, I think it's about an hour and a quarter. A 2 to 1 reward to risk that is, so let's say risking half of 1% to make 1% in an hour and a quarter. It was a tremendous trade. A little bit later on the 6 hour charts, and they're offline charts that I use using a bit of coding that I have that allows us to us charts such as 6 hour charts and 12 hour charts on MT4. They're nonstandard time frames on MT4, but I use the 6 hour charts quite a lot.
Great trades with high reward:risk on H6 and H12 charts
I took a 6 hour trade also on the British Pound/New Zealand dollar live on the webinar yesterday and right now that's at a 3.4 to 1 reward to risk. Again, a half percent risk, that's a 1.7% account gain. I also took a trade on the New Zealand/Canadian dollar and that was on the 12 hour chart and right now that's up 3 to 1 reward to risk, or a 1.5% account gain.
Buying the NZD pairs
Because there's been strength on the New Zealand dollar as well. Have a look at your charts, see the strength that's in the kiwi dollar right now. Likewise on the longer term, on Monday I suggested a bi-trade to my clients. On the weekly charts, on the New Zealand/US dollar. Right now that trade's up at around a 1 point, no that one's just moved up to 2 to 1 trade. Again a 1% gain for a half percent risk so far and the trade is still open. You can see what tremendous opportunities there have been.
GBP/NZD dropped over 4000 pips since the end of May
The British pound/New Zealand dollar as an example since the end of May has dropped over 4,000 pips.]]>http://theforextradingcoach.com/?p=6462Sun, 10 Jul 2016 22:50:39 +0000Andrew MitchemPodcast: Amazing trading conditions with big trends In this video: 00:25 – Huge trends and conditions like this not seen for many years 00:53 – Kick started by Brexit conditions, selling the Pound 01:18 – Selling the GBP/NZD pair on H1 and H6...
Amazing trading conditions with big trends
In this video:
00:25 – Huge trends and conditions like this not seen for many years
00:53 – Kick started by Brexit conditions, selling the Pound
01:18 – Selling the GBP/NZD pair on H1 and H6 charts
02:03 – Great trades with high reward:risk on H6 and H12 charts
02:30 – Buying the NZD pairs
03:00 – GBP/NZD dropped over 4000 pips since the end of May
03:50 – Big trends so take advantage of them right now
04:10 – Close out of positions before the US Employment news
04:35 – Enjoy riding these big trends and make money from them
We are in the middle of some amazing trading conditions. If you're not making money you need to listen to this.
Hi Forex traders, Andrew Mitchem, The Forex Trading Coach. Today is Friday the 8th of July and we just have some amazing trading conditions in the Forex market right now.
Huge trends and conditions like this not seen for many years
It's just an absolute wonderful time to be a Forex trader. There's just some huge trends in the market and the conditions are something like I've not seen for many years. Back in so, 2010, 11, 12, through those times there was some excellent, excellent trends. Some great movements on the charts. Then we've seen a couple years where it's been a little bit sort of harder to trade and now we're getting those big moves back into the market again.
Kick started by Brexit conditions, selling the Pound
Of course things like Brexit have certainly helped contribute to that over the last few weeks. Really when you think about what's happened to that since 2 weeks ago when we had the Brexit decision there's just been some amazing opportunities selling the British pound pairs.
Most of the pairs have moved but the British pound ones in particular have just been fantastic pairs to trade, looking for the pound to weaken all of the time. To give you some examples:
Selling the GBP/NZD pair on H1 and H6 charts
I took a trade just yesterday on a live webinar with my clients. We had a couple hundred people on their live and I took a trade on the 1 hour charts selling the British pound/New Zealand dollar. It fell away and it made a 2 to 1 trade in, I think it's about an hour and a quarter. A 2 to 1 reward to risk that is, so let's say risking half of 1% to make 1% in an hour and a quarter. It was a tremendous trade. A little bit later on the 6 hour charts, and they're offline charts that I use using a bit of coding that I have that allows us to us charts such as 6 hour charts and 12 hour charts on MT4. They're nonstandard time frames on MT4, but I use the 6 hour charts quite a lot.
Great trades with high reward:risk on H6 and H12 charts
I took a 6 hour trade also on the British Pound/New Zealand dollar live on the webinar yesterday and right now that's at a 3.4 to 1 reward to risk. Again, a half percent risk, that's a 1.7% account gain. I also took a trade on the New Zealand/Canadian dollar and that was on the 12 hour chart and right now that's up 3 to 1 reward to risk, or a 1.5% account gain.
Buying the NZD pairs
Because there's been strength on the New Zealand dollar as well. Have a look at your charts, see the strength that's in the kiwi dollar right now. Likewise on the longer term, on Monday I suggested a bi-trade to my clients. On the weekly charts, on the New Zealand/US dollar. Right now that trade's up at around a 1 point, no that one's just moved up to 2 to 1 trade. Again a 1% gain for a half percent risk so far and the trade is still open. You can see what tremendous opportunities there have been.
GBP/NZD dropped over 4000 pips since the end of May
The British pound/New Zealand dollar as an example since the end of May has dropped over 4,000 pips.]]>297falsefullhttps://www.spreaker.com/episode/185-the-brexit-and-trading-news-events--12231295
The Brexit and Trading News Events
In this video:
00:29 – Britain leaves the EA – surprise Brexit news
00:50 – Safer not to trade that news, big spreads and uncertainty
01:30 – GBP pairs retraced then stalled
01:50 – Selling the GBP/AUD and the GBP/NZD
02:20 – Confirmation following indecision
02:40 – Lessons from the Brexit news
03:08 – Trade what you see, look for opportunities
03:50 – Strength in the commodity currencies
05:07 – Watch out for the EUR pairs if more Countries follow the UK
Did you enjoy watching the Brexit news unfold last week? If you did, and you'd like to know more about that, and also how to trade any major news event, listen up, I've got some great news for you.
Hi Forex traders, its Andrew Mitchem here, The Forex Trading Coach today. It's Friday the 1st of July.
Britain leaves the EA – surprise Brexit news
A week ago, we heard the Brexit news out of the UK. Quite unexpectedly, Britain decided to leave the EU. Just before that happened, the British Pound/US Dollar reached a high for the year. Then, of course, as the news came out, and because it was unexpected that Britain was to leave, then, of course, the British Pound crashed against all currencies.
Safer not to trade that news, big spreads and uncertainty
It was a real roller coaster. It just crashed. It tumbled. The brokers prior to that event had given us plenty of warning to say, "Look. Leverage. It spreads." Et cetera. It's going to be hard to trade, and it was safer not to. Personally, I didn't trade on Friday at all. Then, on Monday, when the market opened, we had some huge opening gaps. That is to be expected because, of course, there'd been even more fallout over the weekend. I didn't personally take any of those trades. Spreads were massive. It was just too difficult, and too uncertain to trade at that time.
GBP pairs retraced then stalled
Then, what we‘ve seen recently over the last couple of days, is we've actually seen the British Pound retrace. It's actually pulled back again. Then, just a day or so ago, it then pretty much stalled. It pulled back and retraced, and it was showing a lot of indecision, as in the pull back, the retracement doesn't look like it's going to go any further.
Selling the GBP/AUD and the GBP/NZD
In fact, right now, behind me, I've got two trades open, selling the British Pound, Australian Dollar, and also the British Pound against the New Zealand Dollar. Both sell trades, both looking very good, both in excellent profit right now, as I'm making this video and podcast.
What I've seen there, is the British Pound crash against the Aussie and the Kiwi, and as mentioned, has then pulled back. The British Pound's done this against all currencies, but it's this pull back, and it looks like its then, not going to pull back any further, at this stage.
Confirmation following indecision
I've then got confirmation to go short, as in to sell again, and that's the new ride that I'm on right now, the new trades that I'm on, looking to take that British Pound/Aussie, and British Pound/Kiwi further down, again, back towards last week's lows.
Lessons from the Brexit news
That gives us … I suppose there's a few messages in there. One, you don't have to trade all the time. Two, if the market's not showing favorable conditions, don't trade. Three, wait and be patient. Wait for the good set ups, don't force trades to happen. Don't, because everybody else is jumping on a big sell trade, don't just take a sell trade because of everybody else is doing it. Don't have that sheep following mentality.
Trade what you see, look for opportunities
Trade what you see. What for retracements, and then, if the trend looks like it's going to continue,]]>http://theforextradingcoach.com/?p=6454Sun, 03 Jul 2016 22:29:05 +0000Andrew MitchemPodcast: The Brexit and Trading News Events In this video: 00:29 – Britain leaves the EA – surprise Brexit news 00:50 – Safer not to trade that news, big spreads and uncertainty 01:30 – GBP pairs retraced then stalled 01:50 – Selling the...
The Brexit and Trading News Events
In this video:
00:29 – Britain leaves the EA – surprise Brexit news
00:50 – Safer not to trade that news, big spreads and uncertainty
01:30 – GBP pairs retraced then stalled
01:50 – Selling the GBP/AUD and the GBP/NZD
02:20 – Confirmation following indecision
02:40 – Lessons from the Brexit news
03:08 – Trade what you see, look for opportunities
03:50 – Strength in the commodity currencies
05:07 – Watch out for the EUR pairs if more Countries follow the UK
Did you enjoy watching the Brexit news unfold last week? If you did, and you'd like to know more about that, and also how to trade any major news event, listen up, I've got some great news for you.
Hi Forex traders, its Andrew Mitchem here, The Forex Trading Coach today. It's Friday the 1st of July.
Britain leaves the EA – surprise Brexit news
A week ago, we heard the Brexit news out of the UK. Quite unexpectedly, Britain decided to leave the EU. Just before that happened, the British Pound/US Dollar reached a high for the year. Then, of course, as the news came out, and because it was unexpected that Britain was to leave, then, of course, the British Pound crashed against all currencies.
Safer not to trade that news, big spreads and uncertainty
It was a real roller coaster. It just crashed. It tumbled. The brokers prior to that event had given us plenty of warning to say, "Look. Leverage. It spreads." Et cetera. It's going to be hard to trade, and it was safer not to. Personally, I didn't trade on Friday at all. Then, on Monday, when the market opened, we had some huge opening gaps. That is to be expected because, of course, there'd been even more fallout over the weekend. I didn't personally take any of those trades. Spreads were massive. It was just too difficult, and too uncertain to trade at that time.
GBP pairs retraced then stalled
Then, what we‘ve seen recently over the last couple of days, is we've actually seen the British Pound retrace. It's actually pulled back again. Then, just a day or so ago, it then pretty much stalled. It pulled back and retraced, and it was showing a lot of indecision, as in the pull back, the retracement doesn't look like it's going to go any further.
Selling the GBP/AUD and the GBP/NZD
In fact, right now, behind me, I've got two trades open, selling the British Pound, Australian Dollar, and also the British Pound against the New Zealand Dollar. Both sell trades, both looking very good, both in excellent profit right now, as I'm making this video and podcast.
What I've seen there, is the British Pound crash against the Aussie and the Kiwi, and as mentioned, has then pulled back. The British Pound's done this against all currencies, but it's this pull back, and it looks like its then, not going to pull back any further, at this stage.
Confirmation following indecision
I've then got confirmation to go short, as in to sell again, and that's the new ride that I'm on right now, the new trades that I'm on, looking to take that British Pound/Aussie, and British Pound/Kiwi further down, again, back towards last week's lows.
Lessons from the Brexit news
That gives us … I suppose there's a few messages in there. One, you don't have to trade all the time. Two, if the market's not showing favorable conditions, don't trade. Three, wait and be patient. Wait for the good set ups, don't force trades to happen. Don't, because everybody else is jumping on a big sell trade, don't just take a sell trade because of everybody else is doing it. Don't have that sheep following mentality.
Trade what you see, look for opportunities
Trade what you see. What for retracements, and then, if the trend looks like it's going to continue,]]>370falsefullhttps://www.spreaker.com/episode/184-consistency-is-key-to-your-forex-success--12231297
Consistency is Key to Your Forex Success
In this video:
00:35 – The Brexit Decision playing out right now
01:20 – Consistency is the key to your Forex success
01:50 – I post Daily trades at the same time every day
02:30 – What times do you trade? What charts do you look at – they all need consistency
03:03 – Do you change your risk?
03:53 – Don’t revenge trade
04:16 – Consistency as a trader and as a person
04:55 – Exit positions prior to Brexit as it’s going to be a choppy ride
Consistency is key to becoming a good forex trader. Let's discuss that and more right now.
Hello Forex Traders, Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 24th of June, and in this video and podcast, I want to discuss a very, very important aspect of what makes a person a good forex trader.
The Brexit Decision playing out right now
Just before that, I also want to let you know that today is the Brexit vote decision day, and right behind me on the charts now, the pounds gone from being very, very strong, to all of a sudden it's just crashed and in fact pound yen has already crashed 1,300 pips so far today, and the new day's only 3 hours old. That says some of the early votes have come in out of the UK.
I would think that looking at the longer term charts, the remaining vote is likely to remain … UK is likely to remain within Europe. That's what the chart's telling me on longer term, but of course, anything could happen. By the time you watch this video, or listen to this podcast, you will know the result out of the UK.
Consistency is the key to your Forex success
Back to the topic for today, which is all about consistency. As a trader, of course it's important that you have a strategy, a good strategy, one that works, one that suits you. Of course money management is important as well. Of course controlling your emotions is an important part as well. Consistency in how you trade is also a very, very important part of becoming a good trader.
I post Daily trades at the same time every day
What I mean by that is just think of a few things, for example, every day for the past almost 7 years now, between 5:00 and 5:30 pm Eastern Standard Time (EST), that's New York time, I've posted on my membership site the trades that I'm looking into taking to my clients, specific analysis. It's there every single day of the trading week. It doesn't matter whether I'm at home, I'm traveling, I'm flying, I'm overseas, everyday between 5-5:30, I have that consistency of looking at the daily charts and posting for my clients.
Every Friday for almost probably 4 or 5 years now, I've made these videos and podcasts. That's consistency.
What times do you trade? What charts do you look at – they all need consistency
Consistency within your trading is no different. If you have consistency, then things work out well. You need to have consistency in the times that you trade, the time of days that you trade, the pairs that you like to look at, the time frame charts you like to look at, the technical set-ups, or if you're a fundamental trader, the set-ups that you're looking for.
That type of consistency, when a trade is open, are you consistent with the way you manage a trade? Are you consistent with the position size you take, or the risk that you take?
Do you change your risk?
That type of consistency is a very under … I suppose it's a part of trading that people don't think about enough. It's not thought that it's that important, but it really, really is important.
A mand of people that come to me and they go, they'll go "Andrew, my trading's going really well, but all of a sudden this 1 trade wiped out all of these good trades." Well, that's not consistent is it,]]>http://theforextradingcoach.com/?p=6446Sun, 26 Jun 2016 22:38:33 +0000Andrew MitchemPodcast: Consistency is Key to Your Forex Success In this video: 00:35 – The Brexit Decision playing out right now 01:20 – Consistency is the key to your Forex success 01:50 – I post Daily trades at the same time every day 02:30 – What times do...
Consistency is Key to Your Forex Success
In this video:
00:35 – The Brexit Decision playing out right now
01:20 – Consistency is the key to your Forex success
01:50 – I post Daily trades at the same time every day
02:30 – What times do you trade? What charts do you look at – they all need consistency
03:03 – Do you change your risk?
03:53 – Don’t revenge trade
04:16 – Consistency as a trader and as a person
04:55 – Exit positions prior to Brexit as it’s going to be a choppy ride
Consistency is key to becoming a good forex trader. Let's discuss that and more right now.
Hello Forex Traders, Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 24th of June, and in this video and podcast, I want to discuss a very, very important aspect of what makes a person a good forex trader.
The Brexit Decision playing out right now
Just before that, I also want to let you know that today is the Brexit vote decision day, and right behind me on the charts now, the pounds gone from being very, very strong, to all of a sudden it's just crashed and in fact pound yen has already crashed 1,300 pips so far today, and the new day's only 3 hours old. That says some of the early votes have come in out of the UK.
I would think that looking at the longer term charts, the remaining vote is likely to remain … UK is likely to remain within Europe. That's what the chart's telling me on longer term, but of course, anything could happen. By the time you watch this video, or listen to this podcast, you will know the result out of the UK.
Consistency is the key to your Forex success
Back to the topic for today, which is all about consistency. As a trader, of course it's important that you have a strategy, a good strategy, one that works, one that suits you. Of course money management is important as well. Of course controlling your emotions is an important part as well. Consistency in how you trade is also a very, very important part of becoming a good trader.
I post Daily trades at the same time every day
What I mean by that is just think of a few things, for example, every day for the past almost 7 years now, between 5:00 and 5:30 pm Eastern Standard Time (EST), that's New York time, I've posted on my membership site the trades that I'm looking into taking to my clients, specific analysis. It's there every single day of the trading week. It doesn't matter whether I'm at home, I'm traveling, I'm flying, I'm overseas, everyday between 5-5:30, I have that consistency of looking at the daily charts and posting for my clients.
Every Friday for almost probably 4 or 5 years now, I've made these videos and podcasts. That's consistency.
What times do you trade? What charts do you look at – they all need consistency
Consistency within your trading is no different. If you have consistency, then things work out well. You need to have consistency in the times that you trade, the time of days that you trade, the pairs that you like to look at, the time frame charts you like to look at, the technical set-ups, or if you're a fundamental trader, the set-ups that you're looking for.
That type of consistency, when a trade is open, are you consistent with the way you manage a trade? Are you consistent with the position size you take, or the risk that you take?
Do you change your risk?
That type of consistency is a very under … I suppose it's a part of trading that people don't think about enough. It's not thought that it's that important, but it really, really is important.
A mand of people that come to me and they go, they'll go "Andrew, my trading's going really well, but all of a sudden this 1 trade wiped out all of these good trades." Well, that's not consistent is it,]]>323falsefullhttps://www.spreaker.com/episode/183-are-you-limited-on-available-time-to-trade--12231296
Are you limited on available time to trade?
In this video:
00:29 – I don’t have enough time to trade
00:55 – The solution is to trade the longer time frame charts
01:20 – The stop loss size does not matter
01:39 – How to trade a Monthly chart
02:05 – Don’t worry about the number of pips you need as a stop loss
02:30 – Trades hit profit with a 12.2% account gain with just a 1% account risk per trade
04:08 – The 3 trades took just a few minutes to place
05:14 – Huge benefits to trading the longer time frame charts
05:40 – More reliability in the longer time frame charts
I have got a great way for you to be able to trade Forex, if you are really short on time. That sounds like you, listen up. I've got some great tips for you.
Hi Forex Traders! Andrew Mitchem here and today is the Friday, the 17th of June. I want to talk about an issue that so many people have.
I don’t have enough time to trade
People come to me all the time and they say, "Hey Andrew, look. I really want to get into trading, but I'm just too busy. I'm just short on time. I don't have time to commit to trading. I don't have time to watch the charts all day, to read and understand the news. It's just too much going on in my life. I'd like to trade, but I'm just to busy, whether it's a work or family commitment. Whatever it might be. Just don't have the time."
The solution is to trade the longer time frame charts
There's a really really simple solution. It's just that most people don't know that that solution is there. The solution is this: the best way for you to trade with Forex market if you're short on time, is to trade the longer time frame charts. It's quite a simple solution, but most people just don't understand or think they can do that. The problem is that most people see the longer time frame charts as something they cannot trade because the stop-loss needs to be too big.
The stop loss size does not matter
That's completely incorrect. It's actually irrelevant how big the stop-loss is, because it's all relative to the size of the profit target, and the size of the chart that you're trading.
How to trade a Monthly chart
I'll give you some examples. People have said to me, "I can't trade out a monthly chart trade because the stop-loss needs to be 200 pips, or 300 pips. Wherever it needs to be." What you need to do, is you need to treat that monthly chart trade, exactly the same as you would if you were trading a daily chart or a 4 hours chart. It's just that it has bigger stop-losses and bigger profit targets, but your risk on that trade, if that trade were to get stopped out, is still the same.
Don’t worry about the number of pips you need as a stop loss
Rather than worrying about how many pips the stop-loss is, what you need to do is calculate your position size, your lot size that you take on that trade. Then if that trade were to hit the stop-loss, then you'd lose ‘x' percent of your account. Whether it's half a percent, or 1%, whatever it is that you risk on a trade.
I'll give you some examples. Just this morning, I've woken up and I've had 3 trades.
Trades hit profit with a 12.2% account gain with just a 1% account risk per trade
2 on monthly charts, and 1 on a weekly chart that have all hit the proper target this morning, and made a tremendous amount of money and profit for myself, my account, and also for my clients. Those trades were … 1 was taken in March, and we're now June. Was taken on March on the monthly chart. It's just that the full-profit target this morning for 943 pips, and a 3.8:1 reward to risk. The second trade was taken in May, and again on the monthly chart it's only a month ago. That's made 650 pips, and a 4.2 reward to risk.]]>http://theforextradingcoach.com/?p=6437Sun, 19 Jun 2016 22:34:44 +0000Andrew MitchemPodcast: Are you limited on available time to trade? In this video: 00:29 – I don’t have enough time to trade 00:55 – The solution is to trade the longer time frame charts 01:20 – The stop loss size does not matter 01:39 – How to trade a...
Are you limited on available time to trade?
In this video:
00:29 – I don’t have enough time to trade
00:55 – The solution is to trade the longer time frame charts
01:20 – The stop loss size does not matter
01:39 – How to trade a Monthly chart
02:05 – Don’t worry about the number of pips you need as a stop loss
02:30 – Trades hit profit with a 12.2% account gain with just a 1% account risk per trade
04:08 – The 3 trades took just a few minutes to place
05:14 – Huge benefits to trading the longer time frame charts
05:40 – More reliability in the longer time frame charts
I have got a great way for you to be able to trade Forex, if you are really short on time. That sounds like you, listen up. I've got some great tips for you.
Hi Forex Traders! Andrew Mitchem here and today is the Friday, the 17th of June. I want to talk about an issue that so many people have.
I don’t have enough time to trade
People come to me all the time and they say, "Hey Andrew, look. I really want to get into trading, but I'm just too busy. I'm just short on time. I don't have time to commit to trading. I don't have time to watch the charts all day, to read and understand the news. It's just too much going on in my life. I'd like to trade, but I'm just to busy, whether it's a work or family commitment. Whatever it might be. Just don't have the time."
The solution is to trade the longer time frame charts
There's a really really simple solution. It's just that most people don't know that that solution is there. The solution is this: the best way for you to trade with Forex market if you're short on time, is to trade the longer time frame charts. It's quite a simple solution, but most people just don't understand or think they can do that. The problem is that most people see the longer time frame charts as something they cannot trade because the stop-loss needs to be too big.
The stop loss size does not matter
That's completely incorrect. It's actually irrelevant how big the stop-loss is, because it's all relative to the size of the profit target, and the size of the chart that you're trading.
How to trade a Monthly chart
I'll give you some examples. People have said to me, "I can't trade out a monthly chart trade because the stop-loss needs to be 200 pips, or 300 pips. Wherever it needs to be." What you need to do, is you need to treat that monthly chart trade, exactly the same as you would if you were trading a daily chart or a 4 hours chart. It's just that it has bigger stop-losses and bigger profit targets, but your risk on that trade, if that trade were to get stopped out, is still the same.
Don’t worry about the number of pips you need as a stop loss
Rather than worrying about how many pips the stop-loss is, what you need to do is calculate your position size, your lot size that you take on that trade. Then if that trade were to hit the stop-loss, then you'd lose ‘x' percent of your account. Whether it's half a percent, or 1%, whatever it is that you risk on a trade.
I'll give you some examples. Just this morning, I've woken up and I've had 3 trades.
Trades hit profit with a 12.2% account gain with just a 1% account risk per trade
2 on monthly charts, and 1 on a weekly chart that have all hit the proper target this morning, and made a tremendous amount of money and profit for myself, my account, and also for my clients. Those trades were … 1 was taken in March, and we're now June. Was taken on March on the monthly chart. It's just that the full-profit target this morning for 943 pips, and a 3.8:1 reward to risk. The second trade was taken in May, and again on the monthly chart it's only a month ago. That's made 650 pips, and a 4.2 reward to risk.]]>393falsefullhttps://www.spreaker.com/episode/182-structuring-your-trading-day--12239703
Structuring Your Trading Day
In this video:
00:28 – Do you randomly place trades?
00:50 – Create a structure if you wish to be successful
01:40 – My personal structure
02:10 – Start with the weekly charts
02:35 – Then move onto the daily charts
03:00 – Looking for bullish NZD$ trades this week –the charts tell me everything I need to know
04:45 – The news release was in the same bias as the technical were showing long before
05:30 – Look at the charts at the close of a candle
06:01 – The importance of a trading plan and structure
Do you need some help with gaining a structure for your trading day? If you do, listen up, I've got some great information for you.
Hello Forex Traders, this is Andrew Mitchem here, the owner of "The Forex Trading Coach." Today is Friday, 10th of June. I want to talk about the importance of having a structure within your trading day.
Do you randomly place trades?
Are you one of those people who just haphazardly just places trades randomly, places, buys and sells and different position sizes, different time frames, looking through forums, getting ideas, trying that, it doesn't work, move on, all those sort of things, are you one of those people?
Create a structure if you wish to be successful
If you are, it's really important that you change away from that kind of mentality if you want to continue trading properly as a longer term investment. You see, the problem is with that is that when you have no structure you have no plan. When it comes to trading Forex with real money it is emotional, there's no question about it. Because you're trading with money, you see your account moving up and down, and you see positive trades, you get the enjoyment and the emotion and the greed comes into play. You see losing trades, you then get doubt, you're losing money. All those problems, both good and bad problems, come into your trading because you are trading with real money. It's important to have a structure in your trading day.
My personal structure
The way that I like to work with my personal structure is at the beginning of the week I start by looking at the weekly charts. Now, you can do this on a Monday depending on where you live in the world, maybe Sunday evening. You can look on the weekend because the weekly charts don't change. From when they close on a Friday they do not change over the course of the weekend so you can look at any time, it doesn't really matter.
Start with the weekly charts
When the market opens at 5 pm New York time on a Sunday, which for me is Monday morning, I look at the weekly charts.
What that does it that gives me an overall opinion of where the market is likely to move for this coming week. It's a likely direction. It's not to say it is but it gives me an overall buzz. Which currencies are looking strong, which are looking weak? Which currency pairs have got room to move this week? Which ones are looking strong, which are looking weak, et cetera? It gives me an overall general opinion.
Then move onto the daily charts
Then when it comes to each day I then go to the daily charts, during the similar type of thing but for the daily charts. That gives me an overall opinion, an overall bias for the upcoming 24 hours.
Now, of course if the daily structure and the daily direction looks the same as the weekly, then even better. I'll give you a great example.
Looking for bullish NZD$ trades this week – the charts tell me everything I need to know
This week on Monday, the beginning of the week, I mentioned on my membership site for my clients that I was strongly looking for a bullish movements throughout in the New Zealand dollar pairs. It was strong against the New Zealand dollar, it was strong against the US,]]>http://theforextradingcoach.com/?p=6425Sun, 12 Jun 2016 22:11:05 +0000Andrew MitchemPodcast: Structuring Your Trading Day In this video: 00:28 – Do you randomly place trades? 00:50 – Create a structure if you wish to be successful 01:40 – My personal structure 02:10 – Start with the weekly charts 02:35 – Then move onto the...
Structuring Your Trading Day
In this video:
00:28 – Do you randomly place trades?
00:50 – Create a structure if you wish to be successful
01:40 – My personal structure
02:10 – Start with the weekly charts
02:35 – Then move onto the daily charts
03:00 – Looking for bullish NZD$ trades this week –the charts tell me everything I need to know
04:45 – The news release was in the same bias as the technical were showing long before
05:30 – Look at the charts at the close of a candle
06:01 – The importance of a trading plan and structure
Do you need some help with gaining a structure for your trading day? If you do, listen up, I've got some great information for you.
Hello Forex Traders, this is Andrew Mitchem here, the owner of "The Forex Trading Coach." Today is Friday, 10th of June. I want to talk about the importance of having a structure within your trading day.
Do you randomly place trades?
Are you one of those people who just haphazardly just places trades randomly, places, buys and sells and different position sizes, different time frames, looking through forums, getting ideas, trying that, it doesn't work, move on, all those sort of things, are you one of those people?
Create a structure if you wish to be successful
If you are, it's really important that you change away from that kind of mentality if you want to continue trading properly as a longer term investment. You see, the problem is with that is that when you have no structure you have no plan. When it comes to trading Forex with real money it is emotional, there's no question about it. Because you're trading with money, you see your account moving up and down, and you see positive trades, you get the enjoyment and the emotion and the greed comes into play. You see losing trades, you then get doubt, you're losing money. All those problems, both good and bad problems, come into your trading because you are trading with real money. It's important to have a structure in your trading day.
My personal structure
The way that I like to work with my personal structure is at the beginning of the week I start by looking at the weekly charts. Now, you can do this on a Monday depending on where you live in the world, maybe Sunday evening. You can look on the weekend because the weekly charts don't change. From when they close on a Friday they do not change over the course of the weekend so you can look at any time, it doesn't really matter.
Start with the weekly charts
When the market opens at 5 pm New York time on a Sunday, which for me is Monday morning, I look at the weekly charts.
What that does it that gives me an overall opinion of where the market is likely to move for this coming week. It's a likely direction. It's not to say it is but it gives me an overall buzz. Which currencies are looking strong, which are looking weak? Which currency pairs have got room to move this week? Which ones are looking strong, which are looking weak, et cetera? It gives me an overall general opinion.
Then move onto the daily charts
Then when it comes to each day I then go to the daily charts, during the similar type of thing but for the daily charts. That gives me an overall opinion, an overall bias for the upcoming 24 hours.
Now, of course if the daily structure and the daily direction looks the same as the weekly, then even better. I'll give you a great example.
Looking for bullish NZD$ trades this week – the charts tell me everything I need to know
This week on Monday, the beginning of the week, I mentioned on my membership site for my clients that I was strongly looking for a bullish movements throughout in the New Zealand dollar pairs. It was strong against the New Zealand dollar, it was strong against the US,]]>388falsefullhttps://www.spreaker.com/episode/181-have-you-been-trading-too-long-to-quit-now--12239704
Have you been trading too long to quit now?
In this video:
00:27 – Not making money but been trading too long to live up
01:00 – Trading journey
01:15 – The blind leading the blind on the forums
02:05 – Over reliance on indicators and robots
02:25 – The next big shiny object
03:18 – What can you do to fix the issue?
04:00 – Chopping and changing the way you trade
04:18 – You need a plan
04:55 – Get onto one of my free webinars to learn more
Do you find that your trading is just not working? You're just not profitable, but you've been in this game too long to quit.
If that's you, listen up, got some great news for you.
Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 3rd of June.
Not making money but been trading too long to live up
I want to talk about an e-mail that I've had from a guy called Peter over in Australia, and it's a big, big problem, and it's a big issue that so many people have.
People are feeling that they're just not making money, they're unsuccessful within their trading, but the problem is that they find as they've been in the game, they've been trading or looking at trading, whether it be just as a hobby, or sort of part time, or even try to go full time.
They've been trying to trade Forex for just too long to quit now, you just cannot justify quitting now because it's just a waste of time.
Trading journey
They're in that time of their trading journey when they just don't know what to do. Now, a lot of that comes back to the issue of so many people they rely on forums and quite honestly, the vast majority, not all.
The blind leading the blind on the forums
But the vast majority of forums are where you find the blind leading the blind because in most cases, the forums are basically populated by people who are not trading or they're not successful trading, but they're more than happy to tell other people who come into the forums either how easy it is or how to do it.
They've always got an opinion and you'll always find that it doesn't matter what thread it is, what forum site you go on, that you go back after several weeks or several months and the person who started that thread or forum is no longer contributing with this. Had their guts full of people just sort of taking over, of changing the whole logic of what they originally asked. That just happens all the time, always has done and likely always will. Be really careful with forums. Yes, they can be useful in some ways, but the vast majority of times, it really is the blind leading the blind.
Over reliance on indicators and robots
You then get people who have an over the lines on indicators. People who bought robots, people who bought e-books, who have bought news feeds, who have bought bot testing software.
The next big shiny object
All these type of things, people just get so consumed in the next shiny object and it is a big problem. Look, I've been there myself many years ago and I know exactly how you feel if you are in that situation right now.
The other problem of course comes when you think, "I cannot quit now. I know so much about trading, I'm almost there." Yet, when you think of the real life what's going on, you're wasting so much time or spending so much time watching charts within your trading. You've spent so much money or wasted opportunity of not earning money elsewhere. You've probably either got a grumpy wife, grumpy husband, grumpy kids, whatever it is, because you're just spending all this time just staring at charts moving up and down or waiting for that next news announcement. It is a big, big problem for yourself mentally, financially, relationship-wise.
It's a big, big problem. Absolutely, it is.]]>http://theforextradingcoach.com/?p=6416Sun, 05 Jun 2016 22:27:31 +0000Andrew MitchemPodcast: Have you been trading too long to quit now? In this video: 00:27 – Not making money but been trading too long to live up 01:00 – Trading journey 01:15 – The blind leading the blind on the forums 02:05 – Over reliance on indicators and...
Have you been trading too long to quit now?
In this video:
00:27 – Not making money but been trading too long to live up
01:00 – Trading journey
01:15 – The blind leading the blind on the forums
02:05 – Over reliance on indicators and robots
02:25 – The next big shiny object
03:18 – What can you do to fix the issue?
04:00 – Chopping and changing the way you trade
04:18 – You need a plan
04:55 – Get onto one of my free webinars to learn more
Do you find that your trading is just not working? You're just not profitable, but you've been in this game too long to quit.
If that's you, listen up, got some great news for you.
Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 3rd of June.
Not making money but been trading too long to live up
I want to talk about an e-mail that I've had from a guy called Peter over in Australia, and it's a big, big problem, and it's a big issue that so many people have.
People are feeling that they're just not making money, they're unsuccessful within their trading, but the problem is that they find as they've been in the game, they've been trading or looking at trading, whether it be just as a hobby, or sort of part time, or even try to go full time.
They've been trying to trade Forex for just too long to quit now, you just cannot justify quitting now because it's just a waste of time.
Trading journey
They're in that time of their trading journey when they just don't know what to do. Now, a lot of that comes back to the issue of so many people they rely on forums and quite honestly, the vast majority, not all.
The blind leading the blind on the forums
But the vast majority of forums are where you find the blind leading the blind because in most cases, the forums are basically populated by people who are not trading or they're not successful trading, but they're more than happy to tell other people who come into the forums either how easy it is or how to do it.
They've always got an opinion and you'll always find that it doesn't matter what thread it is, what forum site you go on, that you go back after several weeks or several months and the person who started that thread or forum is no longer contributing with this. Had their guts full of people just sort of taking over, of changing the whole logic of what they originally asked. That just happens all the time, always has done and likely always will. Be really careful with forums. Yes, they can be useful in some ways, but the vast majority of times, it really is the blind leading the blind.
Over reliance on indicators and robots
You then get people who have an over the lines on indicators. People who bought robots, people who bought e-books, who have bought news feeds, who have bought bot testing software.
The next big shiny object
All these type of things, people just get so consumed in the next shiny object and it is a big problem. Look, I've been there myself many years ago and I know exactly how you feel if you are in that situation right now.
The other problem of course comes when you think, "I cannot quit now. I know so much about trading, I'm almost there." Yet, when you think of the real life what's going on, you're wasting so much time or spending so much time watching charts within your trading. You've spent so much money or wasted opportunity of not earning money elsewhere. You've probably either got a grumpy wife, grumpy husband, grumpy kids, whatever it is, because you're just spending all this time just staring at charts moving up and down or waiting for that next news announcement. It is a big, big problem for yourself mentally, financially, relationship-wise.
It's a big, big problem. Absolutely, it is.]]>358falsefullhttps://www.spreaker.com/episode/180-what-does-it-take-to-become-a-full-time-forex-trader--12239705
What does it take to become a full time Forex trader?
In this video:
00:29 – Don’t expect to earn a living from trading if you have $100 in your account
00:58 – Anything that is good takes effort
01.10 – Coaching clients gives up his job to trade Forex full time
01:50 – Started my coaching course 5 years ago
02:45 – Feeling confident to take that next step after making excellent returns
03:30 – Analyse the charts at the weekend
04:00 – Take your time and get it right
04:30 – Don’t expect it to work straight away
What's it take to become a full time Forex Trader? Let's talk about that and more right now.
Hi traders it's Andrew Mitchem here, the Forex trading coach today. It's Friday the 27th of May.
I'm going to talk about becoming a full time trader. It's a topic that so many people ask me about and it's one of those things that's a little bit frustrating because so many people come to me and say,
Don’t expect to earn a living from trading if you have $100 in your account
"Hey Andrew, I've heard about this trading thing. I've got $100. I think I can make it. I think I can become a full time trader."
I never hear from them again. It's one of those things that because Forex trading's put out there on the internet to be, not a get rich quick scheme, but something that doesn't take a lot of effort and you're going to make a lot of money and solve all your financial problems. That unfortunately is the perception that too many people have.
Anything that is good takes effort
In reality, it's like anything. It takes … Anything that's good. It takes hard work. It takes dedication. It takes consistency. It's really important that you understand that if you wanted to become a full time trader.
Coaching clients gives up his job to trade Forex full time
Just last week I had a visit from a client of mine called Stephen, who lives up in Auckland in New Zealand, about 2 hour drive from me. He came down to see me because he wanted to tell me that after 5 years of being with my course, he's now packed in his job. He was actually in a tour of the area around me seeing some of his clients. He worked for a big finance company on a very good wage, I would imagine. He was actually seeing these clients saying, "I'm finishing and I'm going to be trading full time." He just wanted to see them as a courtesy call.
He came to see me to say thanks for your course, for inspiring him into trading, but also for sticking with it.
Started my coaching course 5 years ago
That's the important thing. For the last 3 years Stephen's made absolutely phenomenal gains, but he didn't jump into quitting his job and trading full time after having 2 weeks of having good gains. He's consistently logged into my webinars. He's consistently logged into my membership site and looked at trades, asked questions, phoned me, being to see me. He's taken the effort and he's not rushed into it and jumped in both feet or dived in head first. Whatever phrase it is you want to use. He's not done that. He's been with me for 5 years. He's had 3 excellent, excellent years on a live account. He's got it all tracked in terms of his performance. He's been trading at very low risk exactly like he wants to continue now that he's a full time trader. He's taken that decision to go full time. I said to him, "Why have you done that?"
Feeling confident to take that next step after making excellent returns
Of course, the obvious of not wanting to work for someone else, not wanting to travel, etc like that, and being your own boss. He said he's that happy with his trading that to him it's now the natural progression. Yes, sure he wants to start trading for some other people over time and take his trading bigger and bigger ...]]>http://theforextradingcoach.com/?p=6402Mon, 30 May 2016 00:08:21 +0000Andrew MitchemPodcast: What does it take to become a full time Forex trader? In this video: 00:29 – Don’t expect to earn a living from trading if you have $100 in your account 00:58 – Anything that is good takes effort 01.10 – Coaching clients gives up his job...
What does it take to become a full time Forex trader?
In this video:
00:29 – Don’t expect to earn a living from trading if you have $100 in your account
00:58 – Anything that is good takes effort
01.10 – Coaching clients gives up his job to trade Forex full time
01:50 – Started my coaching course 5 years ago
02:45 – Feeling confident to take that next step after making excellent returns
03:30 – Analyse the charts at the weekend
04:00 – Take your time and get it right
04:30 – Don’t expect it to work straight away
What's it take to become a full time Forex Trader? Let's talk about that and more right now.
Hi traders it's Andrew Mitchem here, the Forex trading coach today. It's Friday the 27th of May.
I'm going to talk about becoming a full time trader. It's a topic that so many people ask me about and it's one of those things that's a little bit frustrating because so many people come to me and say,
Don’t expect to earn a living from trading if you have $100 in your account
"Hey Andrew, I've heard about this trading thing. I've got $100. I think I can make it. I think I can become a full time trader."
I never hear from them again. It's one of those things that because Forex trading's put out there on the internet to be, not a get rich quick scheme, but something that doesn't take a lot of effort and you're going to make a lot of money and solve all your financial problems. That unfortunately is the perception that too many people have.
Anything that is good takes effort
In reality, it's like anything. It takes … Anything that's good. It takes hard work. It takes dedication. It takes consistency. It's really important that you understand that if you wanted to become a full time trader.
Coaching clients gives up his job to trade Forex full time
Just last week I had a visit from a client of mine called Stephen, who lives up in Auckland in New Zealand, about 2 hour drive from me. He came down to see me because he wanted to tell me that after 5 years of being with my course, he's now packed in his job. He was actually in a tour of the area around me seeing some of his clients. He worked for a big finance company on a very good wage, I would imagine. He was actually seeing these clients saying, "I'm finishing and I'm going to be trading full time." He just wanted to see them as a courtesy call.
He came to see me to say thanks for your course, for inspiring him into trading, but also for sticking with it.
Started my coaching course 5 years ago
That's the important thing. For the last 3 years Stephen's made absolutely phenomenal gains, but he didn't jump into quitting his job and trading full time after having 2 weeks of having good gains. He's consistently logged into my webinars. He's consistently logged into my membership site and looked at trades, asked questions, phoned me, being to see me. He's taken the effort and he's not rushed into it and jumped in both feet or dived in head first. Whatever phrase it is you want to use. He's not done that. He's been with me for 5 years. He's had 3 excellent, excellent years on a live account. He's got it all tracked in terms of his performance. He's been trading at very low risk exactly like he wants to continue now that he's a full time trader. He's taken that decision to go full time. I said to him, "Why have you done that?"
Feeling confident to take that next step after making excellent returns
Of course, the obvious of not wanting to work for someone else, not wanting to travel, etc like that, and being your own boss. He said he's that happy with his trading that to him it's now the natural progression. Yes, sure he wants to start trading for some other people over time and take his trading bigger and bigger ...]]>315falsefullhttps://www.spreaker.com/episode/179-what-indicators-should-you-use-to-trade-forex--12239707
What Indicators should you use to trade Forex?
In this video:
00:29 – Selecting which indicators to use
01:02 – To the novice trader, the array of indicators is fascinating
01:48 – Leads to complete confusion and analysis paralysis
02:10 – The important thing is the price
02:40 – Don’t clutter your screen
03:05 – 95% of all Forex traders don’t make money
03:55 – Look at the strength or weakness of each currency
04:25 – No one system suits everyone
05:03 – Get out of your trading rut
05:55 – Everyone wants to be consistently profitable
What indicators should you use as a Forex trader? Let's talk about that more right now.
Hi traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Today, It's Friday, the 20th of May.
Selecting which indicators to use
In this video and podcast I want to talk about something that's so, so important and it's all about selecting which indicators you should use as a trader. You see, the problem is as traders we are completely inundated with all number of technical indicators. Just go and have a look at any system out there, any e-book, any robot, any robot back testing software, any trading platform. Anything on the internet to do with a trading system or a Forex platform you will find that there are just so many indicators on there, completely overloaded.
To the novice trader, the array of indicators is fascinating
Now, for the novice trader that actually looks so cool, it's really impressive. I remember about 12, 13 years ago when I started trading. I was going online, I was researching all these different indicators and names, who invented them, why, how they're created, why those levels are used, why the optimization levels are used, what time frames they could be used on. I was getting printout after printout of all this informational indicators and I just was absolutely, just absolutely thought it was just so cool. I added them to my charts and I could see how when this line crossed over that line the price would then go up just as it said.
Then of course you go adding more and more indicators together and you get lines and dots and hash marks and you get all this stuff over your chart.
Leads to complete confusion and analysis paralysis
The problem is that you get complete confusion and now there's this paralysis, think of it like that. You get lines everywhere. The problem is, what you end up doing is you see the price like this, this tiny little area at the top or the bottom of the chart is the actual price. What the indicators do is they take your mind away from what is the important thing.
The important thing is the price
The important thing is the price. Where is the price right now? What is the price of the currency pair? What's the candle pattern looking like? What's the overall strength and weakness of that pair? Where abouts within the chart does this price occur right now? Has it got room to move up even further to your profit target level? If I put my stock down at this level, is that a safe level for a reason. Yes or no?
Don’t clutter your screen
When you just clutter your screen with lines and charts and dots and wiggly lines it just takes your mind away from the real important thing. Just how to think about any different trading platform that you've tried, whether it be MT4, Trade Station, whatever it might be. Those platforms are completely inundated and overloaded with all these flashy looking indicators.
95% of all Forex traders don’t make money
Also think of it this way. Supposedly, the figures that we hear are 95% of all Forex traders lose money or don't make money. Yet I can be fairly sure that probably 95% of all Forex traders out there use far too many indicators so you can see there's a b...]]>http://theforextradingcoach.com/?p=6392Sun, 22 May 2016 21:59:50 +0000Andrew MitchemPodcast: What Indicators should you use to trade Forex? In this video: 00:29 – Selecting which indicators to use 01:02 – To the novice trader, the array of indicators is fascinating 01:48 – Leads to complete confusion and analysis paralysis...
What Indicators should you use to trade Forex?
In this video:
00:29 – Selecting which indicators to use
01:02 – To the novice trader, the array of indicators is fascinating
01:48 – Leads to complete confusion and analysis paralysis
02:10 – The important thing is the price
02:40 – Don’t clutter your screen
03:05 – 95% of all Forex traders don’t make money
03:55 – Look at the strength or weakness of each currency
04:25 – No one system suits everyone
05:03 – Get out of your trading rut
05:55 – Everyone wants to be consistently profitable
What indicators should you use as a Forex trader? Let's talk about that more right now.
Hi traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Today, It's Friday, the 20th of May.
Selecting which indicators to use
In this video and podcast I want to talk about something that's so, so important and it's all about selecting which indicators you should use as a trader. You see, the problem is as traders we are completely inundated with all number of technical indicators. Just go and have a look at any system out there, any e-book, any robot, any robot back testing software, any trading platform. Anything on the internet to do with a trading system or a Forex platform you will find that there are just so many indicators on there, completely overloaded.
To the novice trader, the array of indicators is fascinating
Now, for the novice trader that actually looks so cool, it's really impressive. I remember about 12, 13 years ago when I started trading. I was going online, I was researching all these different indicators and names, who invented them, why, how they're created, why those levels are used, why the optimization levels are used, what time frames they could be used on. I was getting printout after printout of all this informational indicators and I just was absolutely, just absolutely thought it was just so cool. I added them to my charts and I could see how when this line crossed over that line the price would then go up just as it said.
Then of course you go adding more and more indicators together and you get lines and dots and hash marks and you get all this stuff over your chart.
Leads to complete confusion and analysis paralysis
The problem is that you get complete confusion and now there's this paralysis, think of it like that. You get lines everywhere. The problem is, what you end up doing is you see the price like this, this tiny little area at the top or the bottom of the chart is the actual price. What the indicators do is they take your mind away from what is the important thing.
The important thing is the price
The important thing is the price. Where is the price right now? What is the price of the currency pair? What's the candle pattern looking like? What's the overall strength and weakness of that pair? Where abouts within the chart does this price occur right now? Has it got room to move up even further to your profit target level? If I put my stock down at this level, is that a safe level for a reason. Yes or no?
Don’t clutter your screen
When you just clutter your screen with lines and charts and dots and wiggly lines it just takes your mind away from the real important thing. Just how to think about any different trading platform that you've tried, whether it be MT4, Trade Station, whatever it might be. Those platforms are completely inundated and overloaded with all these flashy looking indicators.
95% of all Forex traders don’t make money
Also think of it this way. Supposedly, the figures that we hear are 95% of all Forex traders lose money or don't make money. Yet I can be fairly sure that probably 95% of all Forex traders out there use far too many indicators so you can see there's a b...]]>379falsefullhttps://www.spreaker.com/episode/178-keep-your-trading-simple--12239706
Keep Your Trading Simple
In this video:
00:24 – The importance of keeping your trading simple
01:00 – Clients loving the logical, practical trading method
01.24 – Live trading room webinar feedback
01:40 – Many traders over complicate their trading – analysis paralysis
02:10 – The price will either go up or down
02:55 – Keep your trading simple and trade what you see
03:14 – A weak looking AUD$ – an example from this week
04:10 – What are the charts telling you?
As traders, we need to be using the K.I.S.S. approach. What is the K.I.S.S. approach? Let's find out now.
Hi, Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach. Today is Friday, the 13th of May.
The importance of keeping your trading simple
I want to talk about the importance of keeping our trading simple using the K.I.S.S. approach: Keep It Simple, Stupid is the acronym for K.I.S.S.
It's really important that we do that as Forex traders. It's important that we do that in so many things, but as traders, it's something we should really, really focus on. I've just finished my 7th birthday sale. Had a lot of people sign up, some just over the moon people, really happy, ecstatic people that they've been able to jump onto the course at such a drastically reduced price, so well done, you, if you jumped onto the course and took advantage of that special.
Clients loving the logical, practical trading method
One thing that I've learnt from the feedback from people already is that they're loving the trading approach that I have. They're loving the simple approach, the logical, straightforward, practical, easy to understand approach that I have to my trading. You need to have that because trading needs to be enjoyable but easy to understand and something that you can do all of the time. It doesn't need to be something that's so complicated that you get a headache just thinking about it.
Live trading room webinar feedback
Just yesterday I held my first live, two hour trading room session for those people who jumped onto the 7th birthday special, of course, with all the other clients as well. The feedback was that people are just liking that simple, straightforward approach.
Many traders over complicate their trading – analysis paralysis
But also I've noticed from talking to a number of those new clients and seeing some of the previous trading strategies that people just seem to be over complicating things. After all, if the complicated method's working, they wouldn't have needed to come to me as part of that 7th birthday sale.
I've seen some of the screenshots that people have sent me and been talking to people, it's just complete confusion. Analysis paralysis, people just over complicating what is and what should be quite a simple, straightforward thing.
The price will either go up or down
When you think about trading, what's going to happen? The price is either going to go up or it's going to go down. As a general direction, what are we looking for? Are we looking at the price to be quite tight in a range band market like we've seen this week, or are we looking for trends? Are the trends up or trends down? Really, that's when you break it down into simplistic approach, that's really all that can happen. The price, a currency pair is going to move up or it's going to move down, or it's just going to stay exactly where it is, and it doesn't stay exactly where it is for very long. It's going to go up and down in a zig zag, sideways approach, in a range band, or it's going to have some big trends up, pull back, and go again, or down, pull back, go again.
Keep your trading simple and trade what you see
That's all that can happen, so think of your trading in terms of simplistic approaches.]]>http://theforextradingcoach.com/?p=6379Sun, 15 May 2016 22:25:28 +0000Andrew MitchemPodcast: Keep Your Trading Simple In this video: 00:24 – The importance of keeping your trading simple 01:00 – Clients loving the logical, practical trading method 01.24 – Live trading room webinar feedback 01:40 – Many traders over complicate...
Keep Your Trading Simple
In this video:
00:24 – The importance of keeping your trading simple
01:00 – Clients loving the logical, practical trading method
01.24 – Live trading room webinar feedback
01:40 – Many traders over complicate their trading – analysis paralysis
02:10 – The price will either go up or down
02:55 – Keep your trading simple and trade what you see
03:14 – A weak looking AUD$ – an example from this week
04:10 – What are the charts telling you?
As traders, we need to be using the K.I.S.S. approach. What is the K.I.S.S. approach? Let's find out now.
Hi, Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach. Today is Friday, the 13th of May.
The importance of keeping your trading simple
I want to talk about the importance of keeping our trading simple using the K.I.S.S. approach: Keep It Simple, Stupid is the acronym for K.I.S.S.
It's really important that we do that as Forex traders. It's important that we do that in so many things, but as traders, it's something we should really, really focus on. I've just finished my 7th birthday sale. Had a lot of people sign up, some just over the moon people, really happy, ecstatic people that they've been able to jump onto the course at such a drastically reduced price, so well done, you, if you jumped onto the course and took advantage of that special.
Clients loving the logical, practical trading method
One thing that I've learnt from the feedback from people already is that they're loving the trading approach that I have. They're loving the simple approach, the logical, straightforward, practical, easy to understand approach that I have to my trading. You need to have that because trading needs to be enjoyable but easy to understand and something that you can do all of the time. It doesn't need to be something that's so complicated that you get a headache just thinking about it.
Live trading room webinar feedback
Just yesterday I held my first live, two hour trading room session for those people who jumped onto the 7th birthday special, of course, with all the other clients as well. The feedback was that people are just liking that simple, straightforward approach.
Many traders over complicate their trading – analysis paralysis
But also I've noticed from talking to a number of those new clients and seeing some of the previous trading strategies that people just seem to be over complicating things. After all, if the complicated method's working, they wouldn't have needed to come to me as part of that 7th birthday sale.
I've seen some of the screenshots that people have sent me and been talking to people, it's just complete confusion. Analysis paralysis, people just over complicating what is and what should be quite a simple, straightforward thing.
The price will either go up or down
When you think about trading, what's going to happen? The price is either going to go up or it's going to go down. As a general direction, what are we looking for? Are we looking at the price to be quite tight in a range band market like we've seen this week, or are we looking for trends? Are the trends up or trends down? Really, that's when you break it down into simplistic approach, that's really all that can happen. The price, a currency pair is going to move up or it's going to move down, or it's just going to stay exactly where it is, and it doesn't stay exactly where it is for very long. It's going to go up and down in a zig zag, sideways approach, in a range band, or it's going to have some big trends up, pull back, and go again, or down, pull back, go again.
Keep your trading simple and trade what you see
That's all that can happen, so think of your trading in terms of simplistic approaches.]]>270falsefullhttps://www.spreaker.com/episode/176-the-danger-of-complacency--12239708
The Danger of Complacency

In this video:
00:23 – Complacency can damage you as a trader
00:50 – You won’t become an overnight expert
01.25 – Don’t run before you can walk
02:03 – Start small and treat it as a business
02:35 – Trading will not solve your financial issues
03:28 – Don’t expect to double your account in a few trades
03:55 – I offer consistency for members
04:35 – Good trading is methodical and boring
05:30 – We are not invincible
05:46 – 7th Birthday offer starts tomorrow
One of the biggest problems facing Forex traders is complacency, so let’s talk about that and more right now.
Hi, traders. It’s Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday, the 6th of May.
Complacency can damage you as a trader
I want to talk about a big issue that faces so many Forex traders, and it’s all to do with complacency.
You see, the Forex market is the biggest and the most volatile market in the world, and you really do need to take some time to get a good understanding of how it works, how you operate as a trader, and how the market as a whole operates.
You won’t become an overnight expert
Because I find that so many people think that they’re suddenly going to become market experts after a few weeks or a few months. Unfortunately, that’s just not going to happen.
Think of it this way. You wouldn’t just walk into a brand new industry and walk into an office or a factory, and after few weeks, expect to be the manager, or expect to be a consultant, or expect to be an expert within that field. Trading Forex is absolutely no different. It takes time and you must learn to walk before you can run, and don’t jump in head first. Two of the most common phrases that we use, but it’s so applicable in trading.
Don’t run before you can walk
I’ll give you an example. Just this week, I had a phone call from a gentleman in the US who’s looking at taking my course, and he said to me, “Andrew, I’m looking at investing a vast amount of capital into a Forex trading account, and I’ve just come out towards retirement. I’m looking at selling some properties, selling some businesses, and I want to put a large amount of money into my trading account.”
I said, “Okay, that’s fine. Your account, your money, but tell me this. How long have you been trading?” He said, “Well, I haven’t really traded. I’m just new to trading, but it’s what I want to do.”
Start small and treat it as a business
I had to be really careful with him and said, “Look. That’s all great, but let’s start small. Let’s start on a demo account. Once you’ve proven to yourself you can make money on a demo account, then move to a very small live account, and then slowly build up that account from that.”
It’s really important that you do that and start small. Treat it as a business and just remember that if you’re at that stage, you are new to trading. It doesn’t matter how much money you might have to throw at it, but you’re still new to the industry, and it’s really important that you understand that, and you then take the opposite end of the scale.
Trading will not solve your financial issues
I get many emails from people saying, “Hey, Andrew. I don’t have the money to pay for your course,” or, “I’ve got a $100 account. That’s all I can afford, but how am I going to make some money on that? What money can I expect to make on that account?” With that type of person, you got to be really careful because you can’t expect to solve all your life’s financial problems just by becoming a Forex trader if all you can afford is $100,]]>http://theforextradingcoach.com/?p=6370Sun, 08 May 2016 22:16:52 +0000Andrew MitchemPodcast: The Danger of Complacency In this video: 00:23 – Complacency can damage you as a trader 00:50 – You won’t become an overnight expert 01.25 – Don’t run before you can walk 02:03 – Start small and treat it as a business 02:35 –...
The Danger of Complacency

In this video:
00:23 – Complacency can damage you as a trader
00:50 – You won’t become an overnight expert
01.25 – Don’t run before you can walk
02:03 – Start small and treat it as a business
02:35 – Trading will not solve your financial issues
03:28 – Don’t expect to double your account in a few trades
03:55 – I offer consistency for members
04:35 – Good trading is methodical and boring
05:30 – We are not invincible
05:46 – 7th Birthday offer starts tomorrow
One of the biggest problems facing Forex traders is complacency, so let’s talk about that and more right now.
Hi, traders. It’s Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday, the 6th of May.
Complacency can damage you as a trader
I want to talk about a big issue that faces so many Forex traders, and it’s all to do with complacency.
You see, the Forex market is the biggest and the most volatile market in the world, and you really do need to take some time to get a good understanding of how it works, how you operate as a trader, and how the market as a whole operates.
You won’t become an overnight expert
Because I find that so many people think that they’re suddenly going to become market experts after a few weeks or a few months. Unfortunately, that’s just not going to happen.
Think of it this way. You wouldn’t just walk into a brand new industry and walk into an office or a factory, and after few weeks, expect to be the manager, or expect to be a consultant, or expect to be an expert within that field. Trading Forex is absolutely no different. It takes time and you must learn to walk before you can run, and don’t jump in head first. Two of the most common phrases that we use, but it’s so applicable in trading.
Don’t run before you can walk
I’ll give you an example. Just this week, I had a phone call from a gentleman in the US who’s looking at taking my course, and he said to me, “Andrew, I’m looking at investing a vast amount of capital into a Forex trading account, and I’ve just come out towards retirement. I’m looking at selling some properties, selling some businesses, and I want to put a large amount of money into my trading account.”
I said, “Okay, that’s fine. Your account, your money, but tell me this. How long have you been trading?” He said, “Well, I haven’t really traded. I’m just new to trading, but it’s what I want to do.”
Start small and treat it as a business
I had to be really careful with him and said, “Look. That’s all great, but let’s start small. Let’s start on a demo account. Once you’ve proven to yourself you can make money on a demo account, then move to a very small live account, and then slowly build up that account from that.”
It’s really important that you do that and start small. Treat it as a business and just remember that if you’re at that stage, you are new to trading. It doesn’t matter how much money you might have to throw at it, but you’re still new to the industry, and it’s really important that you understand that, and you then take the opposite end of the scale.
Trading will not solve your financial issues
I get many emails from people saying, “Hey, Andrew. I don’t have the money to pay for your course,” or, “I’ve got a $100 account. That’s all I can afford, but how am I going to make some money on that? What money can I expect to make on that account?” With that type of person, you got to be really careful because you can’t expect to solve all your life’s financial problems just by becoming a Forex trader if all you can afford is $100,]]>374falsefullhttps://www.spreaker.com/episode/175-how-do-you-pay-yourself-as-a-forex-trader--12239709
How do you pay yourself as a Forex Trader?

In this video:
00:35 – How should we pay ourselves?
01:18 – You need to reward yourself
01:50 – How much to withdraw and how often?
02:40 – The balance between needing the funds and your trading account total
03:20 – How to trade with free money – withdraw the initial deposit
04:05 – Multiple accounts and are you protected?
04:50 – Client makes consistent returns
05:19 – The 7th Birthday sale coming soon – register your interest
How do you pay yourself as a Forex trader? Let's talk about that subject and more right now.
Hi traders. It's Andrew Mitchem here, I'm the owner of the Forex Trading Coach and in today's video and podcast I want to talk about a subject that I've actually received two emails about just this week.
One's from Stan over in Australia, the other's from Alex in the UK. They both ask a similar question and they both also said, “Hey! Andrew can you just elaborate on the subject. About, how do we pay ourselves as Forex traders?”
How should we pay ourselves?
When do we withdraw funds from our trading account, how often, etc, because it's something like, both of them said, it's a subject that's not very widely covered. You really don't hear too many people talking about withdrawing funds from their account. You hear probably stories about bad brokers, about people finding it difficult to withdraw funds from their accounts and you definitely want to stay well clear of those sort of brokers, but you don't often read or see videos or hear about, good ideas about how you can withdraw your funds.
Not all your funds, but just partial withdrawal of you funds in order to pay yourself because to me it's something, to reward yourself is actually something that's really important.
You need to reward yourself
You should reward yourself as a trader. You know, you reward yourself for your good learning, for your good trading, for the time and the effort that you put into your trading and for getting good results. You have to reward yourself for that.
How do you go about it? Well I suppose it depends on why you're trading. If you are trading, let's say a relatively large account and it's something that you're doing as an investment and you can afford to take funds from that account, then definitely do so.
How much to withdraw and how often?
You really need to decide how much you're going to withdraw when, how often, etc., because you need to be really careful that you don't withdraw funds too often otherwise you start accumulating bank fees and too many bank fees, you know, you don't want to be paying the bank all the time just to try and get $100 back out of your account. That's pretty pointless.
What you need to do is maybe when you make a certain amount of money, or a certain percentage on your account, whatever it is that you're looking for, a certain amount that you need to live on, you then need to be withdrawing that as a reward for yourself and for your effort that you put into your trading.
The danger is, I suppose, if you withdraw too much or too much too often then any gains that you make, you're losing out on that higher account size and compounding of that higher account size. It really becomes a balance of why you want to withdraw that funds and how much do you need to withdraw those funds.
The balance between needing the funds and your trading account total
Sometimes I prefer to keep my account growing in terms of it's size and compound on those gains if I‘m not needing to withdraw funds. You know, it really depends on how much you have in your account,]]>http://theforextradingcoach.com/?p=6358Sun, 01 May 2016 22:27:54 +0000Andrew MitchemPodcast: How do you pay yourself as a Forex Trader? In this video: 00:35 – How should we pay ourselves? 01:18 – You need to reward yourself 01:50 – How much to withdraw and how often? 02:40 – The balance between needing the funds and your...
How do you pay yourself as a Forex Trader?

In this video:
00:35 – How should we pay ourselves?
01:18 – You need to reward yourself
01:50 – How much to withdraw and how often?
02:40 – The balance between needing the funds and your trading account total
03:20 – How to trade with free money – withdraw the initial deposit
04:05 – Multiple accounts and are you protected?
04:50 – Client makes consistent returns
05:19 – The 7th Birthday sale coming soon – register your interest
How do you pay yourself as a Forex trader? Let's talk about that subject and more right now.
Hi traders. It's Andrew Mitchem here, I'm the owner of the Forex Trading Coach and in today's video and podcast I want to talk about a subject that I've actually received two emails about just this week.
One's from Stan over in Australia, the other's from Alex in the UK. They both ask a similar question and they both also said, “Hey! Andrew can you just elaborate on the subject. About, how do we pay ourselves as Forex traders?”
How should we pay ourselves?
When do we withdraw funds from our trading account, how often, etc, because it's something like, both of them said, it's a subject that's not very widely covered. You really don't hear too many people talking about withdrawing funds from their account. You hear probably stories about bad brokers, about people finding it difficult to withdraw funds from their accounts and you definitely want to stay well clear of those sort of brokers, but you don't often read or see videos or hear about, good ideas about how you can withdraw your funds.
Not all your funds, but just partial withdrawal of you funds in order to pay yourself because to me it's something, to reward yourself is actually something that's really important.
You need to reward yourself
You should reward yourself as a trader. You know, you reward yourself for your good learning, for your good trading, for the time and the effort that you put into your trading and for getting good results. You have to reward yourself for that.
How do you go about it? Well I suppose it depends on why you're trading. If you are trading, let's say a relatively large account and it's something that you're doing as an investment and you can afford to take funds from that account, then definitely do so.
How much to withdraw and how often?
You really need to decide how much you're going to withdraw when, how often, etc., because you need to be really careful that you don't withdraw funds too often otherwise you start accumulating bank fees and too many bank fees, you know, you don't want to be paying the bank all the time just to try and get $100 back out of your account. That's pretty pointless.
What you need to do is maybe when you make a certain amount of money, or a certain percentage on your account, whatever it is that you're looking for, a certain amount that you need to live on, you then need to be withdrawing that as a reward for yourself and for your effort that you put into your trading.
The danger is, I suppose, if you withdraw too much or too much too often then any gains that you make, you're losing out on that higher account size and compounding of that higher account size. It really becomes a balance of why you want to withdraw that funds and how much do you need to withdraw those funds.
The balance between needing the funds and your trading account total
Sometimes I prefer to keep my account growing in terms of it's size and compound on those gains if I‘m not needing to withdraw funds. You know, it really depends on how much you have in your account,]]>393falsefullhttps://www.spreaker.com/episode/3-quick-questions-to-help-you-succeed-as-a-forex-trader--12239710
3 Quick Questions To Help You Succeed as a Forex Trader
In this video:
Hi Forex Traders, this is Andrew Mitchem here. I'm the owner of The Forex Trading Coach.
In order to help you further, I'd really love to get some feedback from you on this video and podcast. I've got three really quick questions I'd like to ask you, and I'd love to get your comments on the comments area below this video.
The first question is:
How would you describe yourself as a trader?
Are you a new trader or an experienced trader?
If you've been trading for let's say less than six months either on demo or live, I'd classify you as a relatively new trader.
If you've been Forex for let's say six months or more through to several years, then I'd say that you are a more experienced trader. Question number one, just leave on the comment below, are you new or experienced?
Question #2:
What's the one thing that's really holding you back within your trading now?
What's your biggest challenge?
Let me know what that is, because if you let me know what your biggest challenge is, what's the biggest issue that you have with your trading or your biggest frustration, whatever it might be. What's the biggest, number one biggest challenge that you have in your trading? Leave that on the comments box below as question number two.
Question #3:
In a couple of weeks from now The Forex Trading Coach is going to be celebrating it's seventh birthday, and it's something that I'm really proud of that achievement. In order to help me give back to you, as question number three, type in what you feel I should help you with. I want to give you back and I want to help people.
Type in what you think I can do to help you.
Don't type in things like, "Andrew, give away your coach for free or fly around the world and teach me for free," because unfortunately that's probably not going to happen. If there is something you think that I can do in order to help you as a Forex trader, then type that in this question number three.
Please feel free to interact with those questions below. If you're listening to this as a podcast, when you get back to your computer watch the video and below the video you'll find a comments box.
Just take a couple of minutes, type in those three questions.
Question #1: Are you new or experienced as a trader?
Question #2: What's the biggest question that you have or biggest challenge that you have with your trading right now?
Question #3: What do you feel I can do to help give back to you and to help you as a trader?
I look forward to reading your comments, and I look forward to helping you as a trader. This is Andrew Mitchem, The Forex Trading Coach.]]>http://theforextradingcoach.com/?p=6343Thu, 21 Apr 2016 06:06:27 +0000Andrew MitchemPodcast: 3 Quick Questions To Help You Succeed as a Forex Trader In this video: Hi Forex Traders, this is Andrew Mitchem here. I'm the owner of The Forex Trading Coach. In order to help you further, I'd really love to get some feedback from you on...
3 Quick Questions To Help You Succeed as a Forex Trader
In this video:
Hi Forex Traders, this is Andrew Mitchem here. I'm the owner of The Forex Trading Coach.
In order to help you further, I'd really love to get some feedback from you on this video and podcast. I've got three really quick questions I'd like to ask you, and I'd love to get your comments on the comments area below this video.
The first question is:
How would you describe yourself as a trader?
Are you a new trader or an experienced trader?
If you've been trading for let's say less than six months either on demo or live, I'd classify you as a relatively new trader.
If you've been Forex for let's say six months or more through to several years, then I'd say that you are a more experienced trader. Question number one, just leave on the comment below, are you new or experienced?
Question #2:
What's the one thing that's really holding you back within your trading now?
What's your biggest challenge?
Let me know what that is, because if you let me know what your biggest challenge is, what's the biggest issue that you have with your trading or your biggest frustration, whatever it might be. What's the biggest, number one biggest challenge that you have in your trading? Leave that on the comments box below as question number two.
Question #3:
In a couple of weeks from now The Forex Trading Coach is going to be celebrating it's seventh birthday, and it's something that I'm really proud of that achievement. In order to help me give back to you, as question number three, type in what you feel I should help you with. I want to give you back and I want to help people.
Type in what you think I can do to help you.
Don't type in things like, "Andrew, give away your coach for free or fly around the world and teach me for free," because unfortunately that's probably not going to happen. If there is something you think that I can do in order to help you as a Forex trader, then type that in this question number three.
Please feel free to interact with those questions below. If you're listening to this as a podcast, when you get back to your computer watch the video and below the video you'll find a comments box.
Just take a couple of minutes, type in those three questions.
Question #1: Are you new or experienced as a trader?
Question #2: What's the biggest question that you have or biggest challenge that you have with your trading right now?
Question #3: What do you feel I can do to help give back to you and to help you as a trader?
I look forward to reading your comments, and I look forward to helping you as a trader. This is Andrew Mitchem, The Forex Trading Coach.]]>150falsefullhttps://www.spreaker.com/episode/the-importance-of-trading-psychology--12239711
The Importance of Trading Psychology
In this video:
00:25 – Understanding yourself
00:54 – Dealing with uncertainties and the emotions involved
01:30 – What type of person and trader are you?
02:20 – You need a good trading plan
03:01 – Review your trades
03:07 – Client makes 8% in the last 2 weeks
03:34 – Control your risk and eliminate fear
04:05 – Don’t revenge trade
04:30 – Leave your comments below
Do you have a problem with psychology and understanding the market and yourself? If you do, listen up, I've got some great tips and information for you.
Hi Forex Traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday the 15th of April.
Understanding yourself
I've had a lot of e-mails over the last week or so from people asking me to explain more about psychology. To try and give them some tips and some information to help them understand themselves and to help them understand their own trading, because it's an issue that so many people have a problem with. It's also an issue that very few people actually discuss, but it's one of those issues within your trading that can help make or break you as a trader. Let's talk about some of the problems.
Dealing with uncertainties and the emotions involved
Trading, because we're dealing with an unpredictable market and we're dealing with maybe trading by yourself, you may be … The other people around you don't maybe understand what it is that you're doing and you're trading with money. All of those things put together make trading quite an emotional business to be in, but everybody focuses on the good things, in terms of their profits, and looking at charts, and what news came out, etc. Nobody really focuses on having the emotions under control within your trading, but there's several things you can do to actually help you with that.
What type of person and trader are you?
First of all, you need to understand what type of person you are and what type of trader you are. There's no good trading five minute chart scalping the market if you really can't stand the stress of watching every single pip move up and down. The other end of the scale, there's no good taking weekly or monthly chart trades if you can't stand watching a trade stay in the market for over one day. Understand what type of trader you are and then implement that and put that into the strategy that you trade. There's no good if you are a believer in fundamental news announcements in just watching charts only. Likewise, there's no good in just watching the news announcements if you are a technical trader and you like watching the charts.
It's about finding what blend works for you of time frames, what style of trading, what time of day, etc. All those type of things come into it.
You need a good trading plan
The other thing that you really need to have a good trading plan and you need to review the trades that you've taken. Having a good trading plan, that means writing down the plan, what it is exactly that you're looking for, for every new trade. Had you handled open trades? Had you handled losses? What is it that you do with your trading on a day-by-day basis? What set ups are you looking for? What type of trades, reversals, continuation patterns, pin bars, news announcements? What is it that you're looking for to take in a new trade?
Review that daily. Look at it before you even turn your computer on and get your mind fresh in understanding what it is that you're looking for before you even look at the charts that day.
Review your trades
Review your trades; what worked, what didn't work, why did it work, why did it not work, and get an understanding of what happened there.
Client makes 8% in the last 2 weeks]]>http://theforextradingcoach.com/?p=6322Sun, 17 Apr 2016 20:46:08 +0000Andrew MitchemPodcast: The Importance of Trading Psychology In this video: 00:25 – Understanding yourself 00:54 – Dealing with uncertainties and the emotions involved 01:30 – What type of person and trader are you? 02:20 – You need a good trading plan 03:01...
The Importance of Trading Psychology
In this video:
00:25 – Understanding yourself
00:54 – Dealing with uncertainties and the emotions involved
01:30 – What type of person and trader are you?
02:20 – You need a good trading plan
03:01 – Review your trades
03:07 – Client makes 8% in the last 2 weeks
03:34 – Control your risk and eliminate fear
04:05 – Don’t revenge trade
04:30 – Leave your comments below
Do you have a problem with psychology and understanding the market and yourself? If you do, listen up, I've got some great tips and information for you.
Hi Forex Traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday the 15th of April.
Understanding yourself
I've had a lot of e-mails over the last week or so from people asking me to explain more about psychology. To try and give them some tips and some information to help them understand themselves and to help them understand their own trading, because it's an issue that so many people have a problem with. It's also an issue that very few people actually discuss, but it's one of those issues within your trading that can help make or break you as a trader. Let's talk about some of the problems.
Dealing with uncertainties and the emotions involved
Trading, because we're dealing with an unpredictable market and we're dealing with maybe trading by yourself, you may be … The other people around you don't maybe understand what it is that you're doing and you're trading with money. All of those things put together make trading quite an emotional business to be in, but everybody focuses on the good things, in terms of their profits, and looking at charts, and what news came out, etc. Nobody really focuses on having the emotions under control within your trading, but there's several things you can do to actually help you with that.
What type of person and trader are you?
First of all, you need to understand what type of person you are and what type of trader you are. There's no good trading five minute chart scalping the market if you really can't stand the stress of watching every single pip move up and down. The other end of the scale, there's no good taking weekly or monthly chart trades if you can't stand watching a trade stay in the market for over one day. Understand what type of trader you are and then implement that and put that into the strategy that you trade. There's no good if you are a believer in fundamental news announcements in just watching charts only. Likewise, there's no good in just watching the news announcements if you are a technical trader and you like watching the charts.
It's about finding what blend works for you of time frames, what style of trading, what time of day, etc. All those type of things come into it.
You need a good trading plan
The other thing that you really need to have a good trading plan and you need to review the trades that you've taken. Having a good trading plan, that means writing down the plan, what it is exactly that you're looking for, for every new trade. Had you handled open trades? Had you handled losses? What is it that you do with your trading on a day-by-day basis? What set ups are you looking for? What type of trades, reversals, continuation patterns, pin bars, news announcements? What is it that you're looking for to take in a new trade?
Review that daily. Look at it before you even turn your computer on and get your mind fresh in understanding what it is that you're looking for before you even look at the charts that day.
Review your trades
Review your trades; what worked, what didn't work, why did it work, why did it not work, and get an understanding of what happened there.
Client makes 8% in the last 2 weeks]]>283falsefullhttps://www.spreaker.com/episode/fantastic-opportunities-to-profit-from-buying-the-yen--12239712
Fantastic Opportunities to Profit from Buying the Yen
In this video:
00:29 – This week’s charts and the JPY strength
01:00 – Rare to get a currency show such strength all week
01.23 – Did you know the JPY was going to move?
01:50 – Selling the GBP/JPY and USD/JPY – posted for clients on Monday
02:35 – GBP weakness continues and the JPY is strong – leads to an 800+ pip move
03:18 – You need to be able to see and take the trade before the big move happens
04:14 – Live trades on live webinars
04:38 – A good sound strategy and learn from a professional trader
05:03 – Get onto one of my free webinars to learn more
There have been some fantastic opportunities to buy the Japanese Yen this week. Have you made money from it? If you have, fantastic. If you haven't, you need to watch this.
Hi Forex Traders, Andrew Mitchem here. I'm the owner of The Forex Trading Coach and I've been coaching Forex traders all around the world for almost 7 years now.
This week’s charts and the JPY strength
I want to talk to you what we've seen on the charts just this week. You would have noticed and you could have not failed to notice massive, massive movements across all the Japanese Yen pairs. Huge strength in the Japanese Yen across the board, across all pairs. What's this done is it's presented us with some fantastic trading opportunities, opportunities that you don't see every week. Some weeks you'll get a good day or maybe a good couple of days with some good movements.
Rare to get a currency show such strength all week
But very rarely do we see a currency like the Japanese Yen just shown massive strength and it's continued the entire week. Quite often you'll see a good bit of strength in a currency and you'll see it retrace a bit and then go again. This week, Japanese Yen has just been the currency.
Did you know the JPY was going to move?
The interesting thing and the point that I'm wanting to make is at the beginning of the week, did you know that it was going to move either in which direction or how much it was going to move? The answer's probably no. For myself, I had a fairly good understanding of which way it was going to move.
Selling the GBP/JPY and USD/JPY – posted for clients on Monday
On Monday morning, at the beginning of the week, I posted on my website for my clients that I was looking at strength in the Japanese Yen. I said I was looking at selling opportunities in the week on the British pan, Japanese Yen and also on the US, Japanese Yen. I didn't know at the time how much it was going to move because so far this week, the Pound/Yens moved 800 pips. The US/Yens moved around 450 pips which for that pair is a lot of movement. The good thing as I mentioned earlier is that it's been pretty much a consistent movement. It hasn't been a big move down, then a big pull back, and another go. It's been pretty much a downward trend the entire week on the Pound/Yen and the US/Yen.
GBP weakness continues and the JPY is strong – leads to an 800+ pip move
The Pound/Yen has had a big move, 800 pips this week with just 1 day to go. When you think about it, for the past few weeks I've been talking about the weakness in the British/Pound. You put that together with strength in the Japanese Yen, so you've got weakness in the Pound, strength in the Yen, put the two together, it's just been a perfect currency in strength and weakness terms. Also technically on the charts for that to drop like a stone and it has done that. 800 pips. How much have you picked out of that big movement so far this week? How many smaller trades have you seen with good selling opportunities?
This week, on Monday, I said to my clients, "I'm looking for short positions, Pound/Yen, US/Yen and throughout the week on the daily charts I've...]]>http://theforextradingcoach.com/?p=6310Sun, 10 Apr 2016 22:24:53 +0000Andrew MitchemPodcast: Fantastic Opportunities to Profit from Buying the Yen In this video: 00:29 – This week’s charts and the JPY strength 01:00 – Rare to get a currency show such strength all week 01.23 – Did you know the JPY was going to move? 01:50 –...
Fantastic Opportunities to Profit from Buying the Yen
In this video:
00:29 – This week’s charts and the JPY strength
01:00 – Rare to get a currency show such strength all week
01.23 – Did you know the JPY was going to move?
01:50 – Selling the GBP/JPY and USD/JPY – posted for clients on Monday
02:35 – GBP weakness continues and the JPY is strong – leads to an 800+ pip move
03:18 – You need to be able to see and take the trade before the big move happens
04:14 – Live trades on live webinars
04:38 – A good sound strategy and learn from a professional trader
05:03 – Get onto one of my free webinars to learn more
There have been some fantastic opportunities to buy the Japanese Yen this week. Have you made money from it? If you have, fantastic. If you haven't, you need to watch this.
Hi Forex Traders, Andrew Mitchem here. I'm the owner of The Forex Trading Coach and I've been coaching Forex traders all around the world for almost 7 years now.
This week’s charts and the JPY strength
I want to talk to you what we've seen on the charts just this week. You would have noticed and you could have not failed to notice massive, massive movements across all the Japanese Yen pairs. Huge strength in the Japanese Yen across the board, across all pairs. What's this done is it's presented us with some fantastic trading opportunities, opportunities that you don't see every week. Some weeks you'll get a good day or maybe a good couple of days with some good movements.
Rare to get a currency show such strength all week
But very rarely do we see a currency like the Japanese Yen just shown massive strength and it's continued the entire week. Quite often you'll see a good bit of strength in a currency and you'll see it retrace a bit and then go again. This week, Japanese Yen has just been the currency.
Did you know the JPY was going to move?
The interesting thing and the point that I'm wanting to make is at the beginning of the week, did you know that it was going to move either in which direction or how much it was going to move? The answer's probably no. For myself, I had a fairly good understanding of which way it was going to move.
Selling the GBP/JPY and USD/JPY – posted for clients on Monday
On Monday morning, at the beginning of the week, I posted on my website for my clients that I was looking at strength in the Japanese Yen. I said I was looking at selling opportunities in the week on the British pan, Japanese Yen and also on the US, Japanese Yen. I didn't know at the time how much it was going to move because so far this week, the Pound/Yens moved 800 pips. The US/Yens moved around 450 pips which for that pair is a lot of movement. The good thing as I mentioned earlier is that it's been pretty much a consistent movement. It hasn't been a big move down, then a big pull back, and another go. It's been pretty much a downward trend the entire week on the Pound/Yen and the US/Yen.
GBP weakness continues and the JPY is strong – leads to an 800+ pip move
The Pound/Yen has had a big move, 800 pips this week with just 1 day to go. When you think about it, for the past few weeks I've been talking about the weakness in the British/Pound. You put that together with strength in the Japanese Yen, so you've got weakness in the Pound, strength in the Yen, put the two together, it's just been a perfect currency in strength and weakness terms. Also technically on the charts for that to drop like a stone and it has done that. 800 pips. How much have you picked out of that big movement so far this week? How many smaller trades have you seen with good selling opportunities?
This week, on Monday, I said to my clients, "I'm looking for short positions, Pound/Yen, US/Yen and throughout the week on the daily charts I've...]]>372falsefullhttps://www.spreaker.com/episode/how-do-you-know-the-best-forex-pairs-to-trade--12239713
How do you know the best Forex pairs to trade?
In this video:
00:25 – A common issue – what to trade, which direction and when to trade
00:54 – Unnecessary risk and confusion
01:15 – Trade with the daily direction
01:50 – Eliminate the common problems
02:20 – Free information posted daily on my website for you to use
02:50 – A trade example
04:30 – Client makes +8.51% on a live account this week
04:53 – The value of investing in yourself
05:30 – The ultimate goal is to make money from your trading
How do you know which currency pairs to trade, what time frame to trade, when to trade and which direction? So let's talk about those problems and more right now.
Hi Forex Traders, Andrew Mitchem here, today is Friday the 1st of April.
A common issue – what to trade, which direction and when to trade
And a very common problem that so many people share with me is that they have such an issue with their trading of having a lack of understanding really, they are not sure which currency pairs to trade, when they should be looking at their charts, which pairs to look at, what direction the trade is likely to move in, which time frame to trade. There is quite a lot of issues going on there.
Unnecessary risk and confusion
All of those things cause a lot of confusion. They cause most people to probably take to many trades, over trade and therefore what that is doing is it's causing unnecessary risk on your trading account. Now we know the issue, let's see how we can address that.
For me I have like most things in my trading quite a simple solution to this issue.
Trade with the daily direction
What I do I tend to try and take my trades within a day in the direction in the direction that I see the longer time frame charts moving. To help people with that I post on my website, free of charge, each day the likely strengths and weaknesses of different currencies and also different pairs for each day and that is valid from 5:00 PM New York time through to 5:00 PM New York time the following day, so for 24 hour time frame.
Eliminate the common problems
What it helps you to do is to take trades using your own strategy on the time frame charts that suit you and to only take trades that are in that likely overall direction. What that does is eliminate a lot of bad trades setups and eliminates a whole lot of issues around confidence, about loss, money, whatever it might be, it helps to eliminate a lot of those current problems within your trading.
Free information posted daily on my website for you to use
I analyse the strength and weakness of all the currencies and all the currency pairs every day and so I suggest to do is have a look on my website every single day, just log into my website and get that free information. Of course for my clients they receive a whole heap more than that, they receive specific trades with the reasons for taking the trades, the directions, the exact entry point and exit point etc. that's for clients, they pay for that information and it helps them to trade all different time frame charts within that day. If you are not a client then just log into my website and have a look under the latest daily directions because it really will help you.
A trade example
As an example let's say the British pound, US dollar. They let's say were to sell off, I'm looking for short positions ideally on the British pound, US dollar. I do that by looking at the British pound and I'm seeing lot's of weakness throughout the British pound against the US, against the Yen, against the Frank, the Kiwi, the Aussie, Canadian, etc,. At the same time let's say I'm seeing strength in the US and I'm seeing strength in the US against the Euro, against the Pound, all those, against the Yen,]]>http://theforextradingcoach.com/?p=6290Sun, 03 Apr 2016 22:49:26 +0000Andrew MitchemPodcast: How do you know the best Forex pairs to trade? In this video: 00:25 – A common issue – what to trade, which direction and when to trade 00:54 – Unnecessary risk and confusion 01:15 – Trade with the daily direction 01:50 – Eliminate the...
How do you know the best Forex pairs to trade?
In this video:
00:25 – A common issue – what to trade, which direction and when to trade
00:54 – Unnecessary risk and confusion
01:15 – Trade with the daily direction
01:50 – Eliminate the common problems
02:20 – Free information posted daily on my website for you to use
02:50 – A trade example
04:30 – Client makes +8.51% on a live account this week
04:53 – The value of investing in yourself
05:30 – The ultimate goal is to make money from your trading
How do you know which currency pairs to trade, what time frame to trade, when to trade and which direction? So let's talk about those problems and more right now.
Hi Forex Traders, Andrew Mitchem here, today is Friday the 1st of April.
A common issue – what to trade, which direction and when to trade
And a very common problem that so many people share with me is that they have such an issue with their trading of having a lack of understanding really, they are not sure which currency pairs to trade, when they should be looking at their charts, which pairs to look at, what direction the trade is likely to move in, which time frame to trade. There is quite a lot of issues going on there.
Unnecessary risk and confusion
All of those things cause a lot of confusion. They cause most people to probably take to many trades, over trade and therefore what that is doing is it's causing unnecessary risk on your trading account. Now we know the issue, let's see how we can address that.
For me I have like most things in my trading quite a simple solution to this issue.
Trade with the daily direction
What I do I tend to try and take my trades within a day in the direction in the direction that I see the longer time frame charts moving. To help people with that I post on my website, free of charge, each day the likely strengths and weaknesses of different currencies and also different pairs for each day and that is valid from 5:00 PM New York time through to 5:00 PM New York time the following day, so for 24 hour time frame.
Eliminate the common problems
What it helps you to do is to take trades using your own strategy on the time frame charts that suit you and to only take trades that are in that likely overall direction. What that does is eliminate a lot of bad trades setups and eliminates a whole lot of issues around confidence, about loss, money, whatever it might be, it helps to eliminate a lot of those current problems within your trading.
Free information posted daily on my website for you to use
I analyse the strength and weakness of all the currencies and all the currency pairs every day and so I suggest to do is have a look on my website every single day, just log into my website and get that free information. Of course for my clients they receive a whole heap more than that, they receive specific trades with the reasons for taking the trades, the directions, the exact entry point and exit point etc. that's for clients, they pay for that information and it helps them to trade all different time frame charts within that day. If you are not a client then just log into my website and have a look under the latest daily directions because it really will help you.
A trade example
As an example let's say the British pound, US dollar. They let's say were to sell off, I'm looking for short positions ideally on the British pound, US dollar. I do that by looking at the British pound and I'm seeing lot's of weakness throughout the British pound against the US, against the Yen, against the Frank, the Kiwi, the Aussie, Canadian, etc,. At the same time let's say I'm seeing strength in the US and I'm seeing strength in the US against the Euro, against the Pound, all those, against the Yen,]]>366falsefullhttps://www.spreaker.com/episode/the-best-way-to-learn-how-to-trade-the-forex-market--12239714
The Best Way To Learn How To Trade The Forex Market
In this video:
00:24 – The best way to learn how to trade Forex
00:56 – Limitations with most methods
02.54 – The value of live trading webinars
03:49 – You get to see everything on a live account
04:45 – Learn the reasons to trade or not take a trade
05:30 – Daily on-going education to help you trade
06:10 – Trading across all time frame charts
06:40 – Interact with a professional trader in real time
What's the best way to learn how to trade the Forex Market? Let me share that and more with you right now.
Hi, Forex Traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach, today is Friday, the 18th of March.
The best way to learn how to trade Forex
I wanted to share in this video and podcast, the way that I believe is probably the very best way that you can learn how to trade the Forex Market. Let's look at the options of what you currently have.
You could attend live seminars, you could look at forums online, you could read books, you could attend local trading groups, or you could just do it alone, and you can figure out what works and what doesn't work for yourself.
Limitations with most methods
All of those have some limitations. The problem is, when you go to a seminar, is that it's generally all over within a day; possibly a weekend, if it's taught to you during a weekend, then of course you can't trade live. That becomes a problem with a seminar.
When it becomes an online forum group, they generally get taken over by the people who think they know more than everybody else, and who like to express their opinion, and the other thing I've noticed over the years with forums is that they very quickly go off topic, or someone adds some new indicator or changes the whole original look and feel of the forum. The person who generally starts that forum or that thread up, generally gets fed up and leaves. That's the common issue with forums.
You could go to a local group of traders, and the problem is with that is that people may be trading different markets. They may have got different ideas. Some have got longer-term traders, some like scalping the market. The other problem is, is that depending on where you live, the market may not be in the best conditions for trading live. Everybody has different ideas and opinions. You generally find that those groups that most people don't like to give away all their secrets. The few live trading groups that I've ever been to, I've found them not that useful. Nice people, great to talk to other traders, but not that useful, as in trying to learn what works for me.
The other way, of course, is going alone. Doing it yourself. Trial and error, trying to figure out what works for you. Can be very, very lonely, and quite frustrating. You generally find that most people, friends or family, have no idea what it is that you're trying to achieve, and therefore, you're stuck at home or in your office, trying to understand how to trade by yourself, really with little support and backup.
Those are the issues that I see with most ways that people learn to trade.
The value of live trading webinars
One of the things that I think is so important and why I believe that so many of my coaching clients do extremely well, is because I hold live trading room sessions. I held one just last night for my clients. Around two hours, fifteen minutes, in the European session. The beauty of the live trading room sessions is that you get to see me trading. You can see one of my accounts here, with hopefully those green lights you can see. We just had a great trading room session last night. Lots of profitable trades that I took during the session, and many of them actually closed out for profit during the session also.]]>http://theforextradingcoach.com/?p=6266Sun, 20 Mar 2016 20:35:09 +0000Andrew MitchemPodcast: The Best Way To Learn How To Trade The Forex Market In this video: 00:24 – The best way to learn how to trade Forex 00:56 – Limitations with most methods 02.54 – The value of live trading webinars 03:49 – You get to see everything on a...
The Best Way To Learn How To Trade The Forex Market
In this video:
00:24 – The best way to learn how to trade Forex
00:56 – Limitations with most methods
02.54 – The value of live trading webinars
03:49 – You get to see everything on a live account
04:45 – Learn the reasons to trade or not take a trade
05:30 – Daily on-going education to help you trade
06:10 – Trading across all time frame charts
06:40 – Interact with a professional trader in real time
What's the best way to learn how to trade the Forex Market? Let me share that and more with you right now.
Hi, Forex Traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach, today is Friday, the 18th of March.
The best way to learn how to trade Forex
I wanted to share in this video and podcast, the way that I believe is probably the very best way that you can learn how to trade the Forex Market. Let's look at the options of what you currently have.
You could attend live seminars, you could look at forums online, you could read books, you could attend local trading groups, or you could just do it alone, and you can figure out what works and what doesn't work for yourself.
Limitations with most methods
All of those have some limitations. The problem is, when you go to a seminar, is that it's generally all over within a day; possibly a weekend, if it's taught to you during a weekend, then of course you can't trade live. That becomes a problem with a seminar.
When it becomes an online forum group, they generally get taken over by the people who think they know more than everybody else, and who like to express their opinion, and the other thing I've noticed over the years with forums is that they very quickly go off topic, or someone adds some new indicator or changes the whole original look and feel of the forum. The person who generally starts that forum or that thread up, generally gets fed up and leaves. That's the common issue with forums.
You could go to a local group of traders, and the problem is with that is that people may be trading different markets. They may have got different ideas. Some have got longer-term traders, some like scalping the market. The other problem is, is that depending on where you live, the market may not be in the best conditions for trading live. Everybody has different ideas and opinions. You generally find that those groups that most people don't like to give away all their secrets. The few live trading groups that I've ever been to, I've found them not that useful. Nice people, great to talk to other traders, but not that useful, as in trying to learn what works for me.
The other way, of course, is going alone. Doing it yourself. Trial and error, trying to figure out what works for you. Can be very, very lonely, and quite frustrating. You generally find that most people, friends or family, have no idea what it is that you're trying to achieve, and therefore, you're stuck at home or in your office, trying to understand how to trade by yourself, really with little support and backup.
Those are the issues that I see with most ways that people learn to trade.
The value of live trading webinars
One of the things that I think is so important and why I believe that so many of my coaching clients do extremely well, is because I hold live trading room sessions. I held one just last night for my clients. Around two hours, fifteen minutes, in the European session. The beauty of the live trading room sessions is that you get to see me trading. You can see one of my accounts here, with hopefully those green lights you can see. We just had a great trading room session last night. Lots of profitable trades that I took during the session, and many of them actually closed out for profit during the session also.]]>461falsefullhttps://www.spreaker.com/episode/how-to-protect-your-open-trades--12239715
How to protect your open trades
In this video:
00:30 – What do you do when you have a run of bad trades?
01:14 – Accepting the rough with the smooth
02:38 – It’s frustrating and hard to deal with
03:11 – Client makes 11% last week on her trading account
04:09 – Losing weeks are a part of trading
04:55 – Don’t go changing your system
05:24 – Stay away from the forums, control your emotions
How do you best protect your open trades to ensure that your winning trades don't turn into losing trades?
Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, the Forex Trading Coach. Today is Friday the 11th of March. I want to talk about a really important subject, because there's nothing worse as a trader than seeing your trades in really good profit, you've got lots of trades on, let's say multiple trades all open, really good profit, you're doing well, you're happy, and then all of a sudden you might go off to work, or you might leave them open over night, or whatever happens.
Your winning trades have all turned into losing trades
You suddenly find that their all turned into losing trades or being completely stopped out. Really it's quite a gutting feeling. There's nothing worse as a trader, but unfortunately that does happen.
What can you do about it, because it really is quite an important subject? Really when you think about it you've got a few different type of options there.
Using partial closing
One of the options you have is called partial closing. It means closing a part of your trade, a proportion of your trade, when your trade gets to a certain level. It's one of the methods that I prefer myself. When I see a trade in profit and I see it get to a certain level, I can then look to say, "Well, I'm going to close part of that trade out," so you might look at closing a quarter or a half of that trade and let the rest of the trade move up towards its profit target. The great thing with that is you capture some fairly good profit out of the trade.
At the same time, you then have options of course. What are you going to do with the stop loss? Are you going to leave it exactly where it is? Are you going to move it to protect the trade to make sure that it's a smaller loss if it gets stopped out? Are you going to move it to even? Are you going to move it to a guaranteed profit? Now, depending on the time frame of the chart that you're trading, and the actually length of the trade, and the profit target.
Moving the stop loss to lock in profit
One of the very nicest things you can do is to move the remaining position up into guaranteed profit. Even if the trade comes back and gets stopped out, you still make profit. When you think about it, mathematically wise is that the best thing to do? It's a little bit like people who always move to break even. It might be a feel good thing to move to break even, but really is it the very best thing to do? We'll come to that shortly.
First option is a partial closing. Second option is to close the entire position. Certainly we just close it early. You can do that if you wish to.
Should you use a trailing stop?
The other thing you can do is to use what's called a trailing stop. Now, a lot of people think a trailing stop's a really good thing, because it means that you're trading as your profit is moving up and up, you're bringing your stop loss with it. Again, it could be one of those feel good things. The thing I don't like about trailing stops is you're not actually moving your stop loss for a technical reason. You're just moving it up by a set number of pips as the profit moves further and further up.
The downside to closing trades early
The downside with all of these things when you start closing trades early is that quite often...]]>http://theforextradingcoach.com/?p=6225Sun, 13 Mar 2016 20:53:46 +0000Andrew MitchemPodcast: How to protect your open trades In this video: 00:30 – What do you do when you have a run of bad trades? 01:14 – Accepting the rough with the smooth 02:38 – It’s frustrating and hard to deal with 03:11 – Client makes 11% last week on...
How to protect your open trades
In this video:
00:30 – What do you do when you have a run of bad trades?
01:14 – Accepting the rough with the smooth
02:38 – It’s frustrating and hard to deal with
03:11 – Client makes 11% last week on her trading account
04:09 – Losing weeks are a part of trading
04:55 – Don’t go changing your system
05:24 – Stay away from the forums, control your emotions
How do you best protect your open trades to ensure that your winning trades don't turn into losing trades?
Let's talk about that and more right now.
Hi, Forex traders. Andrew Mitchem here, the Forex Trading Coach. Today is Friday the 11th of March. I want to talk about a really important subject, because there's nothing worse as a trader than seeing your trades in really good profit, you've got lots of trades on, let's say multiple trades all open, really good profit, you're doing well, you're happy, and then all of a sudden you might go off to work, or you might leave them open over night, or whatever happens.
Your winning trades have all turned into losing trades
You suddenly find that their all turned into losing trades or being completely stopped out. Really it's quite a gutting feeling. There's nothing worse as a trader, but unfortunately that does happen.
What can you do about it, because it really is quite an important subject? Really when you think about it you've got a few different type of options there.
Using partial closing
One of the options you have is called partial closing. It means closing a part of your trade, a proportion of your trade, when your trade gets to a certain level. It's one of the methods that I prefer myself. When I see a trade in profit and I see it get to a certain level, I can then look to say, "Well, I'm going to close part of that trade out," so you might look at closing a quarter or a half of that trade and let the rest of the trade move up towards its profit target. The great thing with that is you capture some fairly good profit out of the trade.
At the same time, you then have options of course. What are you going to do with the stop loss? Are you going to leave it exactly where it is? Are you going to move it to protect the trade to make sure that it's a smaller loss if it gets stopped out? Are you going to move it to even? Are you going to move it to a guaranteed profit? Now, depending on the time frame of the chart that you're trading, and the actually length of the trade, and the profit target.
Moving the stop loss to lock in profit
One of the very nicest things you can do is to move the remaining position up into guaranteed profit. Even if the trade comes back and gets stopped out, you still make profit. When you think about it, mathematically wise is that the best thing to do? It's a little bit like people who always move to break even. It might be a feel good thing to move to break even, but really is it the very best thing to do? We'll come to that shortly.
First option is a partial closing. Second option is to close the entire position. Certainly we just close it early. You can do that if you wish to.
Should you use a trailing stop?
The other thing you can do is to use what's called a trailing stop. Now, a lot of people think a trailing stop's a really good thing, because it means that you're trading as your profit is moving up and up, you're bringing your stop loss with it. Again, it could be one of those feel good things. The thing I don't like about trailing stops is you're not actually moving your stop loss for a technical reason. You're just moving it up by a set number of pips as the profit moves further and further up.
The downside to closing trades early
The downside with all of these things when you start closing trades early is that quite often...]]>334falsefullhttps://www.spreaker.com/episode/how-to-cope-with-losing-trades--12239716
How to cope with losing trades
In this video:
00:30 – What do you do when you have a run of bad trades?
01:14 – Accepting the rough with the smooth
02:38 – It’s frustrating and hard to deal with
03:11 – Client makes 11% last week on her trading account
04:09 – Losing weeks are a part of trading
04:55 – Don’t go changing your system
05:24 – Stay away from the forums, control your emotions
What happens when you have multiple losing trades and you're having a really bad trading week? Let's talk about that and more right now.
Hi, Forex Traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Today is Friday, the 4th of March and I want to talk about something that you won't find many people talking about this subject.
What do you do when you have a run of bad trades?
What happens when you have a losing streak? What happens when you have bad days and you have bad weeks? The reason I want to talk about that is because this week, I've had one of my worst trading weeks for many, many months, if not years. It's just been one of those weeks and so I want to address that because how you react to that is actually really important to your longer term success as a Forex trader.
Now, as a trader we have to accept that losing trades are a part of trading and of course, most people understand that, but what happens when you get multiple losing trades all in a row and you had a bad week? That just happens, yes, but it's not that easy to deal with sometimes.
Accepting the rough with the smooth
As traders we need to accept that losing trades are a part of trading, but also accept the rough with the smooth. As an example, the vast majority of my weeks I make profit and make some really good profit, but this week I've made a reasonable loss.
How do you cope with that? Firstly, of course you can control the loss that you take per trade. What you don't want to do is have one or two really bad trades that make massive losses and then have small gains that just claw back a tiny bit, but you still end up with a loss. I like to have controlled risk and equal risk on every trade. Even so, I've had many losing trades this week and overall I'm in a loss. Why's that? It's just been one of those weeks.
I've had retracement trades that have almost retraced to my entry level but they haven't quite, but then they've turned around and gone and hit the full profit but I've not got anything out of the trade because I've not actually been filled into the market. I've had trades that have moved almost to my profit target and then almost hit that level and I haven't been there to watch the trades that have happened overnight, let's say, and by the time I wake up in the morning, look at my charts, it's got within a few pips of my profit target and it's come all the way back down again. I've taken either a small profit or a loss.
I've had other trades that have gone almost down to my stop loss, have just stopped me out by a pip or so and then they've turned around and gone to the profit target. It's very, very frustrating.
It’s frustrating and hard to deal with
There is no doubt about it. It's frustrating, and it's annoying, and it's quite hard to deal with from time to time. When that happens, you just tend to find that that happens trade, after trade, after trade, which is what I've experienced personally this week.
Like I said, longer term, you've got to look at trading as a bigger picture, as over several months, quarters, half years, yearly, et cetera. Don't just get too stressed and too worried on what's happened just today or just this week.
Client makes 11% last week on her trading account
As an example, I had a fantastic e-mail from a client last week who said, "Andrew, I've made over 11% on my account." Now,]]>http://theforextradingcoach.com/?p=6207Sun, 06 Mar 2016 22:29:08 +0000Andrew MitchemPodcast: How to cope with losing trades In this video: 00:30 – What do you do when you have a run of bad trades? 01:14 – Accepting the rough with the smooth 02:38 – It’s frustrating and hard to deal with 03:11 – Client makes 11% last week on...
How to cope with losing trades
In this video:
00:30 – What do you do when you have a run of bad trades?
01:14 – Accepting the rough with the smooth
02:38 – It’s frustrating and hard to deal with
03:11 – Client makes 11% last week on her trading account
04:09 – Losing weeks are a part of trading
04:55 – Don’t go changing your system
05:24 – Stay away from the forums, control your emotions
What happens when you have multiple losing trades and you're having a really bad trading week? Let's talk about that and more right now.
Hi, Forex Traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Today is Friday, the 4th of March and I want to talk about something that you won't find many people talking about this subject.
What do you do when you have a run of bad trades?
What happens when you have a losing streak? What happens when you have bad days and you have bad weeks? The reason I want to talk about that is because this week, I've had one of my worst trading weeks for many, many months, if not years. It's just been one of those weeks and so I want to address that because how you react to that is actually really important to your longer term success as a Forex trader.
Now, as a trader we have to accept that losing trades are a part of trading and of course, most people understand that, but what happens when you get multiple losing trades all in a row and you had a bad week? That just happens, yes, but it's not that easy to deal with sometimes.
Accepting the rough with the smooth
As traders we need to accept that losing trades are a part of trading, but also accept the rough with the smooth. As an example, the vast majority of my weeks I make profit and make some really good profit, but this week I've made a reasonable loss.
How do you cope with that? Firstly, of course you can control the loss that you take per trade. What you don't want to do is have one or two really bad trades that make massive losses and then have small gains that just claw back a tiny bit, but you still end up with a loss. I like to have controlled risk and equal risk on every trade. Even so, I've had many losing trades this week and overall I'm in a loss. Why's that? It's just been one of those weeks.
I've had retracement trades that have almost retraced to my entry level but they haven't quite, but then they've turned around and gone and hit the full profit but I've not got anything out of the trade because I've not actually been filled into the market. I've had trades that have moved almost to my profit target and then almost hit that level and I haven't been there to watch the trades that have happened overnight, let's say, and by the time I wake up in the morning, look at my charts, it's got within a few pips of my profit target and it's come all the way back down again. I've taken either a small profit or a loss.
I've had other trades that have gone almost down to my stop loss, have just stopped me out by a pip or so and then they've turned around and gone to the profit target. It's very, very frustrating.
It’s frustrating and hard to deal with
There is no doubt about it. It's frustrating, and it's annoying, and it's quite hard to deal with from time to time. When that happens, you just tend to find that that happens trade, after trade, after trade, which is what I've experienced personally this week.
Like I said, longer term, you've got to look at trading as a bigger picture, as over several months, quarters, half years, yearly, et cetera. Don't just get too stressed and too worried on what's happened just today or just this week.
Client makes 11% last week on her trading account
As an example, I had a fantastic e-mail from a client last week who said, "Andrew, I've made over 11% on my account." Now,]]>414falsefullhttps://www.spreaker.com/episode/forex-tips-to-help-you-enjoy-your-trading--12239717
Forex Tips to Help You Enjoy Your Trading
In this video:
00:25 – Trading remotely using the longer time frame charts
01:00 – Look at the daily charts once a day
01:35 – Trade for a few hours only if you wish to trade 5 min charts
02:20 – Trade a realistic amount of time
03:25 – Use the New York Close of day
04:20 – Trading the British Pound crash
05:10 – Still looking for GBP/JPY short trades
06:20 – Trade what the charts are telling you
Would you like some tips on how you can really enjoy your Forex Trading? If you would, listen up! I've got some really good tips to share with you right now.
Hi Traders! This is Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 26th of February.
Trading remotely using the longer time frame charts
I'm here on the beautiful beach of Oneroa, which is on Waiheke Island just off the coast of Aukland, New Zealand. I want to share with you some tips about how you can invest and enjoy trading. What I've done today, because I've taken trades on the daily charts, and also I’ve looked at 12 hour charts, and 6 hour charts, means that I can be here. Sit down in a café, had a coffee and some breakfast, taking my trades, and now I've got the rest of the day to enjoy this beautiful place before I need to go back and look at charts again.
Look at the daily charts once a day
The reason for that is several things. One, when I'm trading the daily charts, it means I mean to look at the charts just once a day. There's so many people I hear from that are saying, "Andrew, I'm doing okay at trading. I might be making some money." Most people actually say they are losing money when they come to me. The problem is that so many people think the best way to trade is to stare at 5 minute charts all day. They all get together on forums and are all texting each other. That's fine, if that suits you. It's absolutely fine.
Trade for a few hours only if you wish to trade 5 min charts
I’ve got a number of clients who do extremely well by trading those shorter time frame charts. If you are to trade those short time frame charts, what I would strongly suggest you do is just dedicate an hour or two per day at the same time, if you can, and just look at those shorter time frame charts for a certain time every day. You get use to what that market is doing at that time.
Really, if you want to be trading and to enjoy it as a longer term thing to do, as a job let's say, then realistically, you are far better off … Excuse me, I need to put these on. That's better. It's so bright here that I need sunglasses on.
Really what you need to be doing is looking at longer timeframe charts. You need to be looking at daily charts, twelve hour charts, six hour charts, etc.
Trade a realistic amount of time
Realistically, that is going to give you something you can trade day after day, week after week, year after year without being a burden to you. That's one of those things that if you are trading 5 or 10 hours a day staring at charts, just think of it this way: Would I want to be doing this in six months time? Would I want to be doing this in a years time? If your answer is yes, well that's fine, but how do you then go away and enjoy the places like this and trade at the same time? The beauty of looking at those longer timeframe charts is I can plan my day around what I'm doing around my trading. I can come here and enjoy the scenery and trade daily charts.
The great thing about the daily charts is that at exactly the same time as the daily charts closes, which is 5pm, New York time. I can also look at the 4 hour, 1 hour charts if I want to or 4 hours, 6 hours, 8 hours, or 12 hour charts.
Use the New York Close of day
There's multiple different timeframe charts I can look at exact...]]>http://theforextradingcoach.com/?p=6188Sun, 28 Feb 2016 22:36:26 +0000Andrew MitchemPodcast: Forex Tips to Help You Enjoy Your Trading In this video: 00:25 – Trading remotely using the longer time frame charts 01:00 – Look at the daily charts once a day 01:35 – Trade for a few hours only if you wish to trade 5 min charts 02:20...
Forex Tips to Help You Enjoy Your Trading
In this video:
00:25 – Trading remotely using the longer time frame charts
01:00 – Look at the daily charts once a day
01:35 – Trade for a few hours only if you wish to trade 5 min charts
02:20 – Trade a realistic amount of time
03:25 – Use the New York Close of day
04:20 – Trading the British Pound crash
05:10 – Still looking for GBP/JPY short trades
06:20 – Trade what the charts are telling you
Would you like some tips on how you can really enjoy your Forex Trading? If you would, listen up! I've got some really good tips to share with you right now.
Hi Traders! This is Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 26th of February.
Trading remotely using the longer time frame charts
I'm here on the beautiful beach of Oneroa, which is on Waiheke Island just off the coast of Aukland, New Zealand. I want to share with you some tips about how you can invest and enjoy trading. What I've done today, because I've taken trades on the daily charts, and also I’ve looked at 12 hour charts, and 6 hour charts, means that I can be here. Sit down in a café, had a coffee and some breakfast, taking my trades, and now I've got the rest of the day to enjoy this beautiful place before I need to go back and look at charts again.
Look at the daily charts once a day
The reason for that is several things. One, when I'm trading the daily charts, it means I mean to look at the charts just once a day. There's so many people I hear from that are saying, "Andrew, I'm doing okay at trading. I might be making some money." Most people actually say they are losing money when they come to me. The problem is that so many people think the best way to trade is to stare at 5 minute charts all day. They all get together on forums and are all texting each other. That's fine, if that suits you. It's absolutely fine.
Trade for a few hours only if you wish to trade 5 min charts
I’ve got a number of clients who do extremely well by trading those shorter time frame charts. If you are to trade those short time frame charts, what I would strongly suggest you do is just dedicate an hour or two per day at the same time, if you can, and just look at those shorter time frame charts for a certain time every day. You get use to what that market is doing at that time.
Really, if you want to be trading and to enjoy it as a longer term thing to do, as a job let's say, then realistically, you are far better off … Excuse me, I need to put these on. That's better. It's so bright here that I need sunglasses on.
Really what you need to be doing is looking at longer timeframe charts. You need to be looking at daily charts, twelve hour charts, six hour charts, etc.
Trade a realistic amount of time
Realistically, that is going to give you something you can trade day after day, week after week, year after year without being a burden to you. That's one of those things that if you are trading 5 or 10 hours a day staring at charts, just think of it this way: Would I want to be doing this in six months time? Would I want to be doing this in a years time? If your answer is yes, well that's fine, but how do you then go away and enjoy the places like this and trade at the same time? The beauty of looking at those longer timeframe charts is I can plan my day around what I'm doing around my trading. I can come here and enjoy the scenery and trade daily charts.
The great thing about the daily charts is that at exactly the same time as the daily charts closes, which is 5pm, New York time. I can also look at the 4 hour, 1 hour charts if I want to or 4 hours, 6 hours, 8 hours, or 12 hour charts.
Use the New York Close of day
There's multiple different timeframe charts I can look at exact...]]>453falsefullhttps://www.spreaker.com/episode/what-to-look-for-when-choosing-a-good-forex-broker--12239718
What to look for when choosing a good Forex broker
In this video:
00:23 – Are you looking for a good Forex broker?
01:00 – What makes a broker different?
01:30 – The brokers I personally use and why
02:00 – Who to use if you live in the US
03:01 – Ensuring your funds are safe
03:15 – Use a 5pm EST start of day chart
03:50 – Tight spreads are needed throughout the entire day
05:02 – It’s your decision, your money – choose wisely
05:40 – The JPY strengthened all week
06:04 – Live trading webinar with my clients – great trading results achieved.
What qualities should you look for when choosing a good Forex broker? Let's talk about that and more right now.
Hi, Forex Traders. Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 19th of February.
Are you looking for a good Forex broker?
I've had a lot of emails come through this week, people are looking for a broker to use and coming to me saying, "Andrew, can you make some suggestions of some good, reliable, Forex brokers? I keep reading reviews about these brokers, I'm a little bit concerned about where I should put my money, who do I trust my funds with, and my Forex future with in terms of a broker. Who do I choose? How do I choose one?"
Well, I've just come back from the IFX Expo in Hong Kong and at that event, there were a lot of brokers.
What makes a broker different?
When you look around at brokers, to be honest, a lot of them offer much the same type of thing in terms of similar type of platform, let's call it, MT4, Meta Trader 4 Platform.
They offer a couple extra little gadgets and little incentives. Maybe cash bonuses, whatever it is, to try and get you on board. Basically, a lot of them from the ad side seem very, very similar so how do you determine who to go for and who to trust your money with?
The brokers I personally use and why
Well, for me personally, I only ever recommend four brokers. Three of them I use personally, and they are AxiTrader, Pepperstone, and Go Markets. I've had a relationship with all three of them for many, many years. I've referred a lot of people to them and I've got no problems. The odd time you get one little question here or there but almost no issues whatsoever, and if there have been issues they get dealt with real quick. I personally have quite substantial funds with all three of those brokers and I have no hesitation in recommending those three brokers.
Who to use if you live in the US
The other broker that I also recommend, and this is mostly for my US based clients, and that's ATC Brokers. All four of those brokers, they have very similar things in common. They have good regulations. I have a good rapport with their staff, I've found them very useful, very friendly in terms of looking after clients, good to deal with if you ever get an issue.
The three Australian brokers, they're all ASIC regulated, Australian Securities Investment Commission. Now, if you're in Europe or US, you may think, "Well, why does an Australian broker really appeal to me?
Well, the good thing is with those three brokers in particular, that they all have European and UK servers, they have branches over there, offices over there as well. You can have your accounts in Aussie dollars, Kiwi, Canadian, Franc, Pounds, Euros, so multiple currencies that you can trade in. I believe also ATC Brokers have a branch in the UK, I believe.
Ensuring your funds are safe
As a broker, you need to make sure that your funds are safe with that broker. As far as I can tell, all four of those are about as good as you can get.
The other thing, they also have what I call the correct chart time.
Use a 5pm EST start of day chart
They start the day at 5 PM,]]>http://theforextradingcoach.com/?p=6166Sun, 21 Feb 2016 12:41:15 +0000Andrew MitchemPodcast: What to look for when choosing a good Forex broker In this video: 00:23 – Are you looking for a good Forex broker? 01:00 – What makes a broker different? 01:30 – The brokers I personally use and why 02:00 – Who to use if you live in...
What to look for when choosing a good Forex broker
In this video:
00:23 – Are you looking for a good Forex broker?
01:00 – What makes a broker different?
01:30 – The brokers I personally use and why
02:00 – Who to use if you live in the US
03:01 – Ensuring your funds are safe
03:15 – Use a 5pm EST start of day chart
03:50 – Tight spreads are needed throughout the entire day
05:02 – It’s your decision, your money – choose wisely
05:40 – The JPY strengthened all week
06:04 – Live trading webinar with my clients – great trading results achieved.
What qualities should you look for when choosing a good Forex broker? Let's talk about that and more right now.
Hi, Forex Traders. Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 19th of February.
Are you looking for a good Forex broker?
I've had a lot of emails come through this week, people are looking for a broker to use and coming to me saying, "Andrew, can you make some suggestions of some good, reliable, Forex brokers? I keep reading reviews about these brokers, I'm a little bit concerned about where I should put my money, who do I trust my funds with, and my Forex future with in terms of a broker. Who do I choose? How do I choose one?"
Well, I've just come back from the IFX Expo in Hong Kong and at that event, there were a lot of brokers.
What makes a broker different?
When you look around at brokers, to be honest, a lot of them offer much the same type of thing in terms of similar type of platform, let's call it, MT4, Meta Trader 4 Platform.
They offer a couple extra little gadgets and little incentives. Maybe cash bonuses, whatever it is, to try and get you on board. Basically, a lot of them from the ad side seem very, very similar so how do you determine who to go for and who to trust your money with?
The brokers I personally use and why
Well, for me personally, I only ever recommend four brokers. Three of them I use personally, and they are AxiTrader, Pepperstone, and Go Markets. I've had a relationship with all three of them for many, many years. I've referred a lot of people to them and I've got no problems. The odd time you get one little question here or there but almost no issues whatsoever, and if there have been issues they get dealt with real quick. I personally have quite substantial funds with all three of those brokers and I have no hesitation in recommending those three brokers.
Who to use if you live in the US
The other broker that I also recommend, and this is mostly for my US based clients, and that's ATC Brokers. All four of those brokers, they have very similar things in common. They have good regulations. I have a good rapport with their staff, I've found them very useful, very friendly in terms of looking after clients, good to deal with if you ever get an issue.
The three Australian brokers, they're all ASIC regulated, Australian Securities Investment Commission. Now, if you're in Europe or US, you may think, "Well, why does an Australian broker really appeal to me?
Well, the good thing is with those three brokers in particular, that they all have European and UK servers, they have branches over there, offices over there as well. You can have your accounts in Aussie dollars, Kiwi, Canadian, Franc, Pounds, Euros, so multiple currencies that you can trade in. I believe also ATC Brokers have a branch in the UK, I believe.
Ensuring your funds are safe
As a broker, you need to make sure that your funds are safe with that broker. As far as I can tell, all four of those are about as good as you can get.
The other thing, they also have what I call the correct chart time.
Use a 5pm EST start of day chart
They start the day at 5 PM,]]>385falsefullhttps://www.spreaker.com/episode/do-you-measure-your-forex-success-in-pips-or-percentages--12239719
Do you measure your Forex success in Pips or Percentages?
In this video:
00:30 – Money management and Risk
00:50 – How important are Pips?
01:30 – Percentages are the same regardless of your account size
02:15 – The problem with counting success in Pips
03:20 – All trades should have equal risk
03:52 – Download my Forex Calculator and use it – It’s Free!
04:30 – I’ve taught people from all over the World how to trade Forex
05:20 – A +2.3% account gain this week
05:50 – Help eliminate emotions and stop blowing your account
How do you measure your success as a Forex trader? Do you look at the number of Pips you make, or do you look at the percentage return on your account you make? Let's talk about that and more right now.
Hi traders, it's Andrew Mitchem here, The Forex Trading Coach. Today is Friday the 12th of February. I want to talk about a really topical subject.
Money management and Risk
I've had quite a lot of emails this week from people asking about money management and risk. I've also had quite a few emails from people saying, "Andrew, look, you know, I've made my account go from $1000 to $5000 and then I've blown it all in one day. I get that type of email quite often. What it shows me is that there are so many people out there who don't understand correct money management.
How important are Pips?
Unfortunately, when you look around online the vast majority of people tell you to measure your success of any strategy or years as a trader in terms of the number of Pips you make. I personally believe that that is not correct. I'll give you some examples of why. Just to quickly read out an email here that someone sent to me. "Hey, Andrew, can you tell me why I express my success in percentages and why I think that's better than Pips?" This person says, "Percentages depend on the account and, actually, say nothing about your success whereas Pips show you what's going on right now. That's from Jera Flow.
Percentages are the same regardless of your account size
I'm not sure that it's quite right, because for me a percentage is a percentage. It doesn't matter, regardless of your account size. As an example, this week right now I'm up 2.3% on my account right now. If I had a $10,000 account that means I've made $230 this week. If I had a $100,000 account it means I've made $2300 this week.
It's still the same amount. It's the same amount risked. It's the same amount in terms of percentage gain made. The only thing that makes the difference between actual monetary value is the size of the account, but I'm still risking the same amount on each of the two accounts, and I'm still making the same amount on each of the two accounts. To me that's a far better way of being profitable than by looking at the number of Pips you make.
The problem with counting success in Pips
The problem is, let's say you took many trades on shorter time-frame charts, say like one-hour charts, 15-minute charts, and you made lots of small profitable trades, let's say. You made 10 Pips, and 15, and 20, and 30, etc., those sort of smaller amount of Pips. The thing is then you go and take a trade on say a daily chart and it loses 100 Pips, so that one trade that goes wrong completely outdoes and takes away from all those gains that you've made on all those shorter time-frame charts on lots of really good successful trades. You may have 80-90% win rate within your trading in terms of your profitable trades, but that way of trading in terms of looking at the number of Pips you've actually gone backwards and lost money.
Whereas, if I had an equal risk on each one of those trades, regardless of it's profit target and regardless of its time-frame chart, for instance, then if I can make let's say half,]]>http://theforextradingcoach.com/?p=6147Sun, 14 Feb 2016 21:19:56 +0000Andrew MitchemPodcast: Do you measure your Forex success in Pips or Percentages? In this video: 00:30 – Money management and Risk 00:50 – How important are Pips? 01:30 – Percentages are the same regardless of your account size 02:15 – The problem with counting...
Do you measure your Forex success in Pips or Percentages?
In this video:
00:30 – Money management and Risk
00:50 – How important are Pips?
01:30 – Percentages are the same regardless of your account size
02:15 – The problem with counting success in Pips
03:20 – All trades should have equal risk
03:52 – Download my Forex Calculator and use it – It’s Free!
04:30 – I’ve taught people from all over the World how to trade Forex
05:20 – A +2.3% account gain this week
05:50 – Help eliminate emotions and stop blowing your account
How do you measure your success as a Forex trader? Do you look at the number of Pips you make, or do you look at the percentage return on your account you make? Let's talk about that and more right now.
Hi traders, it's Andrew Mitchem here, The Forex Trading Coach. Today is Friday the 12th of February. I want to talk about a really topical subject.
Money management and Risk
I've had quite a lot of emails this week from people asking about money management and risk. I've also had quite a few emails from people saying, "Andrew, look, you know, I've made my account go from $1000 to $5000 and then I've blown it all in one day. I get that type of email quite often. What it shows me is that there are so many people out there who don't understand correct money management.
How important are Pips?
Unfortunately, when you look around online the vast majority of people tell you to measure your success of any strategy or years as a trader in terms of the number of Pips you make. I personally believe that that is not correct. I'll give you some examples of why. Just to quickly read out an email here that someone sent to me. "Hey, Andrew, can you tell me why I express my success in percentages and why I think that's better than Pips?" This person says, "Percentages depend on the account and, actually, say nothing about your success whereas Pips show you what's going on right now. That's from Jera Flow.
Percentages are the same regardless of your account size
I'm not sure that it's quite right, because for me a percentage is a percentage. It doesn't matter, regardless of your account size. As an example, this week right now I'm up 2.3% on my account right now. If I had a $10,000 account that means I've made $230 this week. If I had a $100,000 account it means I've made $2300 this week.
It's still the same amount. It's the same amount risked. It's the same amount in terms of percentage gain made. The only thing that makes the difference between actual monetary value is the size of the account, but I'm still risking the same amount on each of the two accounts, and I'm still making the same amount on each of the two accounts. To me that's a far better way of being profitable than by looking at the number of Pips you make.
The problem with counting success in Pips
The problem is, let's say you took many trades on shorter time-frame charts, say like one-hour charts, 15-minute charts, and you made lots of small profitable trades, let's say. You made 10 Pips, and 15, and 20, and 30, etc., those sort of smaller amount of Pips. The thing is then you go and take a trade on say a daily chart and it loses 100 Pips, so that one trade that goes wrong completely outdoes and takes away from all those gains that you've made on all those shorter time-frame charts on lots of really good successful trades. You may have 80-90% win rate within your trading in terms of your profitable trades, but that way of trading in terms of looking at the number of Pips you've actually gone backwards and lost money.
Whereas, if I had an equal risk on each one of those trades, regardless of it's profit target and regardless of its time-frame chart, for instance, then if I can make let's say half,]]>388falsefullhttps://www.spreaker.com/episode/this-is-why-having-a-trading-plan-is-so-important--12239720
This is why having a trading plan is so important
In this video:
00:35 – Client makes +6.82% return in 2 weeks by sticking to his trading plan
01:20 – Trade specifically the way that suits you
02:02 – Create rules around your trading
02:45 – Trade results show consistency and profit
04:00 – 12 trades taken and 11 were winners
05:15 – Get on my free weekly webinars
Have you ever wondered if a trading plan really does work? Well, I'm here to tell you it does, and I've got proof right here. Let's talk about that and more right now.
Andrew Mitchem: Hi Forex traders, this is Andrew Mitchem here, The Forex Trading Coach, Today is Friday the 5th of February. I want to talk about trading plans and trading goals again, because a couple weeks ago I covered that at the beginning of the New Year, and I expressed how important I believe it is to have a trading goal and a trading plan.
Client makes +6.82% return in 2 weeks by sticking to his trading plan
Now, it just so happens that this morning I opened my emails and I've had an email from Paul who's been a client for just over two weeks. He said to me a number of things and it just backs up why having that plan is so important. By the way, before we get into it, Paul has made, on two accounts 6.82% in the first couple weeks since he's been with me, so we'll talk about those specific trades shortly.
Just to read and quote some of the information that Paul said. He said, "Look, I'm taking it really slowly, only putting on trades that I have a high level of confidence in. I can tell you right now that I'm a one-hour chart trader. I use the lot size calculator, and I'm extremely strict with money management." That's the first outline. No specific plan here, but just the outline.
Trade specifically the way that suits you
He then goes on to say and explain about he's only taking trades initially on one-hour chart trades. He's leaving the trade on for an hour, seeing how they're going, and then after one hour he's then making a decision about moving stop-losses if the trade's moved up into profit. He's telling me exactly about what he's also looking potentially to add to a position if the trade's already in good profit, of what factors need to be in place to justify adding to a position, or just moving the stop-loss up, protecting the trade, and riding it to the full profit target.
He also mentioned that over time he's looking at, and this is probably in about three months time, going to add weekly charts, daily charts, and four-hour charts to the existing time-frames, which is just the one-hour chart trades.
Create rules around your trading
He also mentioned here some rules that he's sticking to, and as an example, "I'm never gonna trade anything lower than a one-hour chart," so that's one-hour chart and above are the time frames that suit Paul. "I'm never gonna risk more than 1% of my total capital on a single trade or on a correlating trade," and "Under no circumstances will I enter a trade based on hype, gut feeling, or news."
Now, there's some other rules that he's got listed here which are more specific to my course on trading strategy so I won't actually mention those right now in the video. Just to really let you know to outline really what Paul's done as he's got specific rules and he's sticking to them.
Trade results show consistency and profit
Now, what he's got down here he essentially mentioned in terms of Pips, not so much the return from the trade, but just to read out from one account here. He's taken a sell trade, Canadian – Yen, 82 Pips, another buy trade Euro – Aussie 26 Pips. Another trade here 32 Pips, 12, 8, and another sell trade Australian dollar – Japanese Yen, currently running 114 Pips.]]>http://theforextradingcoach.com/?p=6128Thu, 04 Feb 2016 20:49:02 +0000Andrew MitchemPodcast: This is why having a trading plan is so important In this video: 00:35 – Client makes +6.82% return in 2 weeks by sticking to his trading plan 01:20 – Trade specifically the way that suits you 02:02 – Create rules around your trading...
This is why having a trading plan is so important
In this video:
00:35 – Client makes +6.82% return in 2 weeks by sticking to his trading plan
01:20 – Trade specifically the way that suits you
02:02 – Create rules around your trading
02:45 – Trade results show consistency and profit
04:00 – 12 trades taken and 11 were winners
05:15 – Get on my free weekly webinars
Have you ever wondered if a trading plan really does work? Well, I'm here to tell you it does, and I've got proof right here. Let's talk about that and more right now.
Andrew Mitchem: Hi Forex traders, this is Andrew Mitchem here, The Forex Trading Coach, Today is Friday the 5th of February. I want to talk about trading plans and trading goals again, because a couple weeks ago I covered that at the beginning of the New Year, and I expressed how important I believe it is to have a trading goal and a trading plan.
Client makes +6.82% return in 2 weeks by sticking to his trading plan
Now, it just so happens that this morning I opened my emails and I've had an email from Paul who's been a client for just over two weeks. He said to me a number of things and it just backs up why having that plan is so important. By the way, before we get into it, Paul has made, on two accounts 6.82% in the first couple weeks since he's been with me, so we'll talk about those specific trades shortly.
Just to read and quote some of the information that Paul said. He said, "Look, I'm taking it really slowly, only putting on trades that I have a high level of confidence in. I can tell you right now that I'm a one-hour chart trader. I use the lot size calculator, and I'm extremely strict with money management." That's the first outline. No specific plan here, but just the outline.
Trade specifically the way that suits you
He then goes on to say and explain about he's only taking trades initially on one-hour chart trades. He's leaving the trade on for an hour, seeing how they're going, and then after one hour he's then making a decision about moving stop-losses if the trade's moved up into profit. He's telling me exactly about what he's also looking potentially to add to a position if the trade's already in good profit, of what factors need to be in place to justify adding to a position, or just moving the stop-loss up, protecting the trade, and riding it to the full profit target.
He also mentioned that over time he's looking at, and this is probably in about three months time, going to add weekly charts, daily charts, and four-hour charts to the existing time-frames, which is just the one-hour chart trades.
Create rules around your trading
He also mentioned here some rules that he's sticking to, and as an example, "I'm never gonna trade anything lower than a one-hour chart," so that's one-hour chart and above are the time frames that suit Paul. "I'm never gonna risk more than 1% of my total capital on a single trade or on a correlating trade," and "Under no circumstances will I enter a trade based on hype, gut feeling, or news."
Now, there's some other rules that he's got listed here which are more specific to my course on trading strategy so I won't actually mention those right now in the video. Just to really let you know to outline really what Paul's done as he's got specific rules and he's sticking to them.
Trade results show consistency and profit
Now, what he's got down here he essentially mentioned in terms of Pips, not so much the return from the trade, but just to read out from one account here. He's taken a sell trade, Canadian – Yen, 82 Pips, another buy trade Euro – Aussie 26 Pips. Another trade here 32 Pips, 12, 8, and another sell trade Australian dollar – Japanese Yen, currently running 114 Pips.]]>339falsefullhttps://www.spreaker.com/episode/andrew-mitchem-interviews-client-making-24-per-year--12239721Andrew Mitchem interviews client making 24% per year
What's it take to become a profitable Forex trader? Let's talk about that and more right now.
Hi, traders this is Andrew Mitchem here, the Forex Trading Coach. I'm coming from the iFX EXPO in Hong Kong where I‘ve been here for the last three days at the expo. I gave a speech yesterday talking about Forex within the Asian region. You can see that on my Facebook page if you want to have a look at that.
What I wanted to do is talk about a person I bumped into here at the expo. His name is Alex. Alex is from India. He came up to me and said, "Andrew, I've been wanting to meet you for a number of years, and I'm glad to finally meet you." Alex is a client of mine. He joined my course back in 2012. Alex started my course back then not knowing anything at all about Forex trading. Here we are, three and a half years after he joined, he's noq managing funds for people for over four hundred people and he's now a full-time trader. He's made twenty-four percent per year for the last two years. This year he's aiming to push that up to around thirty-six percent return for his clients.
Not only was it an absolute thrill for me to meet him, because I'm so pleased to meet someone who's doing so well, and meet him in person, but the interesting part that I got out of the conversation with Alex was that it shows that anybody can become a good Forex trader if you put the time and the effort in, and the dedication. Alex, came to me, as I said, three and a half years ago not knowing anything at all about Forex. He was brand new. He said, in his own words, that he'd spent about a year to year and a half going through my course, watching videos, attending webinars, logging into my website daily, using my help, emailing me. It took that length of time. Now he's achieving something that's beyond his wildest dreams. His business is growing and growing, as you would expect with a twenty-four percent return for two years running. Bear in mind he's only risking a quarter to a half of one percent in trade. He's extremely low draw downs and making massive gains. It's just fantastic to see that.
What I wanted to let you know with that is that this can be achieved, and it can be achieved with very low risk, but first of all you need that time and the effort into the trading before that happens.
Apart from meeting Alex, I've also met a lot of great people within the industry. I'm not knocking trade shows, but it's very noticeable how a few people here that I've met actually are traders. Unfortunately it's a fact. It's a lot of brokers, it's a lot of people promoting software, promoting all sorts of things. That's fine. It takes all sorts of people within the industry, but there's very few people that are actively trading. It's one thing that was nice for myself to meet other traders, and of course, Alex himself. It just goes to show really how valuable education is.
It's one of the things I took from this session, because it's not an easy thing to trade Forex. There's lots of people that have tried, lots of people that have failed. The story just repeats itself. The people who put the effort in, the people that sought good education, are the people that make the money from Forex and last at it, and it helps change their lives just like Alex's life has changed.
If it's something that you'd like to know more about, what I encourage you to do is have a look at my website and go and look at Alex's interview. He was kind enough to spend about five minutes with me, and we had a chat on film. I recorded the session. It talks about his background and how he joined my course and how things have changed for him.
If that's something you'd like to know more about, what I encourage you to do is have a look at one of my free webinars that I hold each week, whether you're a new trader or experienced trader,]]>http://theforextradingcoach.com/?p=6114Sun, 31 Jan 2016 22:33:03 +0000Andrew MitchemPodcast: Andrew Mitchem interviews client making 24% per year What's it take to become a profitable Forex trader? Let's talk about that and more right now. Hi, traders this is Andrew Mitchem here, the Forex Trading Coach. I'm coming from the iFX EXPO...Andrew Mitchem interviews client making 24% per year
What's it take to become a profitable Forex trader? Let's talk about that and more right now.
Hi, traders this is Andrew Mitchem here, the Forex Trading Coach. I'm coming from the iFX EXPO in Hong Kong where I‘ve been here for the last three days at the expo. I gave a speech yesterday talking about Forex within the Asian region. You can see that on my Facebook page if you want to have a look at that.
What I wanted to do is talk about a person I bumped into here at the expo. His name is Alex. Alex is from India. He came up to me and said, "Andrew, I've been wanting to meet you for a number of years, and I'm glad to finally meet you." Alex is a client of mine. He joined my course back in 2012. Alex started my course back then not knowing anything at all about Forex trading. Here we are, three and a half years after he joined, he's noq managing funds for people for over four hundred people and he's now a full-time trader. He's made twenty-four percent per year for the last two years. This year he's aiming to push that up to around thirty-six percent return for his clients.
Not only was it an absolute thrill for me to meet him, because I'm so pleased to meet someone who's doing so well, and meet him in person, but the interesting part that I got out of the conversation with Alex was that it shows that anybody can become a good Forex trader if you put the time and the effort in, and the dedication. Alex, came to me, as I said, three and a half years ago not knowing anything at all about Forex. He was brand new. He said, in his own words, that he'd spent about a year to year and a half going through my course, watching videos, attending webinars, logging into my website daily, using my help, emailing me. It took that length of time. Now he's achieving something that's beyond his wildest dreams. His business is growing and growing, as you would expect with a twenty-four percent return for two years running. Bear in mind he's only risking a quarter to a half of one percent in trade. He's extremely low draw downs and making massive gains. It's just fantastic to see that.
What I wanted to let you know with that is that this can be achieved, and it can be achieved with very low risk, but first of all you need that time and the effort into the trading before that happens.
Apart from meeting Alex, I've also met a lot of great people within the industry. I'm not knocking trade shows, but it's very noticeable how a few people here that I've met actually are traders. Unfortunately it's a fact. It's a lot of brokers, it's a lot of people promoting software, promoting all sorts of things. That's fine. It takes all sorts of people within the industry, but there's very few people that are actively trading. It's one thing that was nice for myself to meet other traders, and of course, Alex himself. It just goes to show really how valuable education is.
It's one of the things I took from this session, because it's not an easy thing to trade Forex. There's lots of people that have tried, lots of people that have failed. The story just repeats itself. The people who put the effort in, the people that sought good education, are the people that make the money from Forex and last at it, and it helps change their lives just like Alex's life has changed.
If it's something that you'd like to know more about, what I encourage you to do is have a look at my website and go and look at Alex's interview. He was kind enough to spend about five minutes with me, and we had a chat on film. I recorded the session. It talks about his background and how he joined my course and how things have changed for him.
If that's something you'd like to know more about, what I encourage you to do is have a look at one of my free webinars that I hold each week, whether you're a new trader or experienced trader,]]>274falsefullhttps://www.spreaker.com/episode/what-trading-information-do-you-need-to-know-andrew-mitchem-talks-forex--12239723 What trading information do you need to know? – Andrew Mitchem talks Forex
In this video:
00:28 – What’s happening in the world right now and how you can use that information
00:43 – Another recession on the way soon?
01:06 – The charts tell me all I need to know
01:30 – Have a look at your Forex charts and see these trades
02:35 – Big moves, reversal trades and some excellent trades
04:10 – A technical trader watched the charts and acts upon that information
04:44 – I’m speaking in Hong Kong at the iFX Trading Expo 26-28th January
As a forex trader, there's so much information to try and understand, so how do you know what is the best information to read and how do you understand it? Let's talk about that and more right now.
Hi forex traders, it's Andrew Mitchem here, the Forex Trading Coach, and in today's video and podcast.
What’s happening in the world right now and how you can use that information
I want to talk about what's happening in the world right now within the news, the whole global economy, and how you can read and understand that information, absorb it, and then take that through to your trading and make some money out of the currency market. It's quite difficult, there's so much information out there. From what I can gather right now, there's a lot of doom and gloom out there.
Another recession on the way soon?
They're talking about another recession coming, oil's getting lower and lower, it hit $30 and it's now gone down lower. Potentially 20 is now the next level. Commodity currencies like the New Zealand dollar, the Aussie, and especially the Canadian dollar are getting an absolute hammering. You're just trying to read all that information, absorb it, and think "How can I best trade?"
The charts tell me all I need to know
For me, as a technical trader, I like to trade what I see on the charts and I'll give you some examples why, because so many people out there say "Andrew, you need to understand these fundamentals, and you have to use that information." Yes, you can use that information, but you've got to be really careful that it doesn't overtake what you think becomes the absolute. You've got to actually see what's happening rather than just thinking this is going to be happening.
Have a look at your Forex charts and see these trades
The examples that I wanted to share with you are some trades that I took just yesterday on Thursday. Go and have a look at your charts for Thursday the 21st of January. I shared some of these trades with my clients on the membership site and I also discussed them on my live webinar with clients just last night. As an example, the euro Canadian dollar has moved to over 2000 pips since the beginning of December. I took a sale trade on the euro Canadian dollar yesterday, it's gone up and up and up. Just have a look at the charts, it's a massive upward movement.
Most people would look at thinking "Yeah, the Canadian dollar's getting absolutely hammered, so why on Earth would you want to be taking a sale trade on the euro CAD, which is effectively saying weakness in the euro and some strength in the Canadian dollar." That is exactly what happened. I only took that trade because I saw the setups showing on the charts. I'm not to say that I'm taking complete reversals against 2000 pip movements all the time, I'd much rather wait for a pullback and then ride it back up again, because long-term it still looks like it's about to go up further.
Big moves, reversal trades and some excellent trades
However, there was a great reversal trade setting up, and there was a great opportunity to make some money on that pullback or on the retracement because, as you know, a market cannot go up and up forever. At some point,]]>http://theforextradingcoach.com/?p=6092Sun, 24 Jan 2016 17:30:44 +0000Andrew MitchemPodcast: What trading information do you need to know? – Andrew Mitchem talks Forex In this video: 00:28 – What’s happening in the world right now and how you can use that information 00:43 – Another recession on the way soon? 01:06 – The charts... What trading information do you need to know? – Andrew Mitchem talks Forex
In this video:
00:28 – What’s happening in the world right now and how you can use that information
00:43 – Another recession on the way soon?
01:06 – The charts tell me all I need to know
01:30 – Have a look at your Forex charts and see these trades
02:35 – Big moves, reversal trades and some excellent trades
04:10 – A technical trader watched the charts and acts upon that information
04:44 – I’m speaking in Hong Kong at the iFX Trading Expo 26-28th January
As a forex trader, there's so much information to try and understand, so how do you know what is the best information to read and how do you understand it? Let's talk about that and more right now.
Hi forex traders, it's Andrew Mitchem here, the Forex Trading Coach, and in today's video and podcast.
What’s happening in the world right now and how you can use that information
I want to talk about what's happening in the world right now within the news, the whole global economy, and how you can read and understand that information, absorb it, and then take that through to your trading and make some money out of the currency market. It's quite difficult, there's so much information out there. From what I can gather right now, there's a lot of doom and gloom out there.
Another recession on the way soon?
They're talking about another recession coming, oil's getting lower and lower, it hit $30 and it's now gone down lower. Potentially 20 is now the next level. Commodity currencies like the New Zealand dollar, the Aussie, and especially the Canadian dollar are getting an absolute hammering. You're just trying to read all that information, absorb it, and think "How can I best trade?"
The charts tell me all I need to know
For me, as a technical trader, I like to trade what I see on the charts and I'll give you some examples why, because so many people out there say "Andrew, you need to understand these fundamentals, and you have to use that information." Yes, you can use that information, but you've got to be really careful that it doesn't overtake what you think becomes the absolute. You've got to actually see what's happening rather than just thinking this is going to be happening.
Have a look at your Forex charts and see these trades
The examples that I wanted to share with you are some trades that I took just yesterday on Thursday. Go and have a look at your charts for Thursday the 21st of January. I shared some of these trades with my clients on the membership site and I also discussed them on my live webinar with clients just last night. As an example, the euro Canadian dollar has moved to over 2000 pips since the beginning of December. I took a sale trade on the euro Canadian dollar yesterday, it's gone up and up and up. Just have a look at the charts, it's a massive upward movement.
Most people would look at thinking "Yeah, the Canadian dollar's getting absolutely hammered, so why on Earth would you want to be taking a sale trade on the euro CAD, which is effectively saying weakness in the euro and some strength in the Canadian dollar." That is exactly what happened. I only took that trade because I saw the setups showing on the charts. I'm not to say that I'm taking complete reversals against 2000 pip movements all the time, I'd much rather wait for a pullback and then ride it back up again, because long-term it still looks like it's about to go up further.
Big moves, reversal trades and some excellent trades
However, there was a great reversal trade setting up, and there was a great opportunity to make some money on that pullback or on the retracement because, as you know, a market cannot go up and up forever. At some point,]]>326falsefullhttps://www.spreaker.com/episode/andrew-mitchem-s-tips-for-trading-successfully-in-2016--12239722
Andrew Mitchem’s tips for trading successfully in 2016
In this video:
00:37 – How was your trading last year?
00:55 – What are your plans for trading in 2016?
01:10 – My trading plan, download your own free copy
03:00 – A +3.1% account gain this week, a good start to the year
03:16 – I’ll be speaking in Hong Kong at the iFX Trading Expo 26-28th January
 
Do you have yourself a trading plan for 2016? If you don't, then you really need to watch this video.
Hi, Forex traders. Andrew Mitchem here, the Forex Trading Coach. Welcome back to the first video and podcast for 2016. Today is Friday, the 15th of January. I want to talk about having a trading plan for 2016. I'll share some reasons for you really shortly.
 
How was your trading last year?
First of all, how was last year? How was your trading year? Was it a good year? Was it not so good year? Are there things you can improve on? What did you do well on? What was not quite so good? Were you spending too long trading? What was it that you found good and what was it you found not so good about 2015?
 
What are your plans for trading in 2016?
Take those points and use that to help build your plan for 2016. Where do you want to go with your trading this year? What are you trying to achieve out of it? Is it something that you want to do as a full-time income? Is it something as a passive income? Are you just learning at this stage? Have all that information jotted down or have it in your head, but then create a plan.
 
My trading plan, download your own free copy
Now to help you out I've created a plan here which I have my own version written and printed out. What I've done for you, at the bottom of this video you'll find a form where you can just enter your name and email address. I'll give you access to my trading plan template so you can then go and go through the plan, look at the headlines that I suggest that you complete.
Fill those details in, print it out, and then use that not only to think more about your trading, but every day before you start trading, have a quick look through that plan and make sure that you're sticking to that plan, because it really will help you develop as a more refined trader. It helps to take your emotions out of your trading. Don't forget to download a copy of that. It's freely available just by entering your details below this video. I hope that helps.
I've got things on here such as when am I going to trade, what times of the day, what pairs, what time frames am I looking at. What type of trading setups am I looking at? Does that vary for different time frame charts? Where my entry and exits will be, where my stop loss is going to be. Again, does that vary for different time frame charts or different trading setups? Same with profit targets.
My trade management: how am I going to approach open positions? They're almost at full profit. am I going to take that early or am I just going to leave it there? am I going to close part positions? Am I going to move stop losses up before news announcements? Am I get to close before the weekend? All those things, etc., I have in here.
I've got a section on risk management. How much risk am I going to take per trade? Is that in PIPs or is that in percentages? Whatever suits you. How many trades am I going to take per day. If I've reached my trading goals, am I going to stop trading for the week? All those type of things here. Just have that written down. Then also print that out and have it next to your computer and go through it each day. I think it will really help you.
 
A +3.1% account gain this week, a good start to the year
For my own trading, so far this year I'm just about to complete my first trading week of the year. I'm already up over 3%, 3.]]>http://theforextradingcoach.com/?p=6081Sun, 17 Jan 2016 18:30:45 +0000Andrew MitchemPodcast: Andrew Mitchem’s tips for trading successfully in 2016 In this video: 00:37 – How was your trading last year? 00:55 – What are your plans for trading in 2016? 01:10 – My trading plan, download your own free copy 03:00 – A +3.1% account...
Andrew Mitchem’s tips for trading successfully in 2016
In this video:
00:37 – How was your trading last year?
00:55 – What are your plans for trading in 2016?
01:10 – My trading plan, download your own free copy
03:00 – A +3.1% account gain this week, a good start to the year
03:16 – I’ll be speaking in Hong Kong at the iFX Trading Expo 26-28th January
 
Do you have yourself a trading plan for 2016? If you don't, then you really need to watch this video.
Hi, Forex traders. Andrew Mitchem here, the Forex Trading Coach. Welcome back to the first video and podcast for 2016. Today is Friday, the 15th of January. I want to talk about having a trading plan for 2016. I'll share some reasons for you really shortly.
 
How was your trading last year?
First of all, how was last year? How was your trading year? Was it a good year? Was it not so good year? Are there things you can improve on? What did you do well on? What was not quite so good? Were you spending too long trading? What was it that you found good and what was it you found not so good about 2015?
 
What are your plans for trading in 2016?
Take those points and use that to help build your plan for 2016. Where do you want to go with your trading this year? What are you trying to achieve out of it? Is it something that you want to do as a full-time income? Is it something as a passive income? Are you just learning at this stage? Have all that information jotted down or have it in your head, but then create a plan.
 
My trading plan, download your own free copy
Now to help you out I've created a plan here which I have my own version written and printed out. What I've done for you, at the bottom of this video you'll find a form where you can just enter your name and email address. I'll give you access to my trading plan template so you can then go and go through the plan, look at the headlines that I suggest that you complete.
Fill those details in, print it out, and then use that not only to think more about your trading, but every day before you start trading, have a quick look through that plan and make sure that you're sticking to that plan, because it really will help you develop as a more refined trader. It helps to take your emotions out of your trading. Don't forget to download a copy of that. It's freely available just by entering your details below this video. I hope that helps.
I've got things on here such as when am I going to trade, what times of the day, what pairs, what time frames am I looking at. What type of trading setups am I looking at? Does that vary for different time frame charts? Where my entry and exits will be, where my stop loss is going to be. Again, does that vary for different time frame charts or different trading setups? Same with profit targets.
My trade management: how am I going to approach open positions? They're almost at full profit. am I going to take that early or am I just going to leave it there? am I going to close part positions? Am I going to move stop losses up before news announcements? Am I get to close before the weekend? All those things, etc., I have in here.
I've got a section on risk management. How much risk am I going to take per trade? Is that in PIPs or is that in percentages? Whatever suits you. How many trades am I going to take per day. If I've reached my trading goals, am I going to stop trading for the week? All those type of things here. Just have that written down. Then also print that out and have it next to your computer and go through it each day. I think it will really help you.
 
A +3.1% account gain this week, a good start to the year
For my own trading, so far this year I'm just about to complete my first trading week of the year. I'm already up over 3%, 3.]]>259falsefullhttps://www.spreaker.com/episode/clients-amazing-trading-results-with-andrew-mitchem--12239737
Clients amazing trading results with Andrew Mitchem
In this video:
00:28 – Thanks for your support this year
00:55 – Clients amazing trading results
03:55 – Good trading takes time to master
05:27 – Would you like to improve your Forex trading?
06:00 – Have a wonderful Christmas
I'd like to talk about how has your trading been in 2015 and what would you like to see improve or change into 2016. Let's get into that right now.
I'm Forex trader's Andrew Mitchem, here, the Forex trading coach and this is my last weekly video and podcast for 2015.
Thanks for your support this year
I'd just like to say thanks for everybody whose been following me on YouTube, on my website, on iTunes, Android, on podcasts. However you‘ve been following along, great to have you along. Hope that you've really enjoyed these videos and podcasts. Judging by the feedback, people are just loving them, so great job and always continue to let me know what subjects you'd like me to talk about.
Clients amazing trading results
What I'd like to finish on for this year is just to give you an idea of some of the amazing results that clients have been getting through my coaching program. I held a webinar just this time last night and like to go through and talk about some feedback I've had from clients just on a webinar that I held yesterday. I've got some information here, some printouts.
I'd just like to go through and read them to you, because as a coach, I get really excited and absolutely thrilled by the results that people have been achieving. Because, let's face it, people are putting in a lot time, a lot effort and a lot money up front to come to me and they could go to a number of Forex coaches out there and training programs, but they've decided to invest in my and my services and my course and strategy. The results are just absolutely overwhelming.
Let me just read out …
These have just been received this last week. Lucia said, "Andrew, I wanted to let you know this month I‘m up a 9.4% return on my capitol." That's one from Lucia, there.
Benjamin, now this is a really interesting one. Just to let you know at the beginning, Benjamin is risking a higher percentage that I might risk myself, but he said, "Andrew, first of all, thanks for you effort to create the opportunity to become a profitable in Forex. I'm trading your method for a year now and it's a great time to share my honest opinion. Simply said, I generated 243.17% real profit." Just outstanding. Like I said, the risk is 6% per trade, which for me is a little bit too high, but Benjamin over in the Netherlands is happy with that. Like he said here, he's trading pullbacks on the hourly, daily, weekly, monthly time frames. Far safer way to trade greater reward to risk ratios. 243.17% return, just outstanding for the year.
John over in Whales, "Andrew, getting close towards the end of the year, just wanted to let you know I've made a 9% gain on my accounts so far this month on a live account." Thank you for that, John. Like I said, these have just been received this week.
Mike over in the U.S. said, "Wanted to share this trade with you on the 1 hour chart, British pound, Japanese Yen. Had a 70 pip stop loss twenty nine profits high, get 1.7 to 1 reward to risk." If he was risking 1% of his accounts, made 1.7% on one trade.
Chris over in Australia, "Andrew, I took a trade on the British pound, New Zealand dollar as a buy trade. You suggested that on the daily suggestions. On the four hour chart trade, I saw a trade took. It his full profit over night Australian time, while I was sleeping. 4.2 to 1 return trade." Puts trade on in the evening in the European session, wakes up in the morning, Chris over in Australia, 4.]]>http://theforextradingcoach.com/?p=6048Sun, 13 Dec 2015 21:01:37 +0000Andrew MitchemPodcast: Clients amazing trading results with Andrew Mitchem In this video: 00:28 – Thanks for your support this year 00:55 – Clients amazing trading results 03:55 – Good trading takes time to master 05:27 – Would you like to improve your Forex...
Clients amazing trading results with Andrew Mitchem
In this video:
00:28 – Thanks for your support this year
00:55 – Clients amazing trading results
03:55 – Good trading takes time to master
05:27 – Would you like to improve your Forex trading?
06:00 – Have a wonderful Christmas
I'd like to talk about how has your trading been in 2015 and what would you like to see improve or change into 2016. Let's get into that right now.
I'm Forex trader's Andrew Mitchem, here, the Forex trading coach and this is my last weekly video and podcast for 2015.
Thanks for your support this year
I'd just like to say thanks for everybody whose been following me on YouTube, on my website, on iTunes, Android, on podcasts. However you‘ve been following along, great to have you along. Hope that you've really enjoyed these videos and podcasts. Judging by the feedback, people are just loving them, so great job and always continue to let me know what subjects you'd like me to talk about.
Clients amazing trading results
What I'd like to finish on for this year is just to give you an idea of some of the amazing results that clients have been getting through my coaching program. I held a webinar just this time last night and like to go through and talk about some feedback I've had from clients just on a webinar that I held yesterday. I've got some information here, some printouts.
I'd just like to go through and read them to you, because as a coach, I get really excited and absolutely thrilled by the results that people have been achieving. Because, let's face it, people are putting in a lot time, a lot effort and a lot money up front to come to me and they could go to a number of Forex coaches out there and training programs, but they've decided to invest in my and my services and my course and strategy. The results are just absolutely overwhelming.
Let me just read out …
These have just been received this last week. Lucia said, "Andrew, I wanted to let you know this month I‘m up a 9.4% return on my capitol." That's one from Lucia, there.
Benjamin, now this is a really interesting one. Just to let you know at the beginning, Benjamin is risking a higher percentage that I might risk myself, but he said, "Andrew, first of all, thanks for you effort to create the opportunity to become a profitable in Forex. I'm trading your method for a year now and it's a great time to share my honest opinion. Simply said, I generated 243.17% real profit." Just outstanding. Like I said, the risk is 6% per trade, which for me is a little bit too high, but Benjamin over in the Netherlands is happy with that. Like he said here, he's trading pullbacks on the hourly, daily, weekly, monthly time frames. Far safer way to trade greater reward to risk ratios. 243.17% return, just outstanding for the year.
John over in Whales, "Andrew, getting close towards the end of the year, just wanted to let you know I've made a 9% gain on my accounts so far this month on a live account." Thank you for that, John. Like I said, these have just been received this week.
Mike over in the U.S. said, "Wanted to share this trade with you on the 1 hour chart, British pound, Japanese Yen. Had a 70 pip stop loss twenty nine profits high, get 1.7 to 1 reward to risk." If he was risking 1% of his accounts, made 1.7% on one trade.
Chris over in Australia, "Andrew, I took a trade on the British pound, New Zealand dollar as a buy trade. You suggested that on the daily suggestions. On the four hour chart trade, I saw a trade took. It his full profit over night Australian time, while I was sleeping. 4.2 to 1 return trade." Puts trade on in the evening in the European session, wakes up in the morning, Chris over in Australia, 4.]]>414falsefullhttps://www.spreaker.com/episode/how-to-trade-high-correlated-forex-pairs--12239724
How to trade high correlated Forex pairs
In this video:
00:50 – How I use currency correlation to trade
02:10 – Trading the short time frame charts
03:03 – Multiple charts all showing similar setups
03:55 – EUR and GBP weakness against the AUD
04:10 – 12 Days of Christmas special offer now live
Today's video is all about currency correlation so let's get into that right now.
Hi Forex Trade, this is Andrew Mitchem here, the Forex Trading Coach and I'm in Adelaide at the world famous Jacob's Creek Winery. We've just had a nice sample of some of their reds and very good they are too.
Today's video and podcast is all about correlation. I've had an email from John and John said to me, "Hey Andrew can you talk about correlation? How you use correlation. How you look at different time frame charts and really what's your take on it? What do I need to do so I'm not taking too many trades or highly related and correlated?" Really, John, my take on it is this.
How I use currency correlation to trade
Because I'm a technical trader, I like to look at the charts and trade what I see. Give you an example. Just this morning, I've taken 2 trades on my charts that are on right now. One's on the euro Australian dollar. The other's on the British pound Australian dollar. You could argue that they're quite highly correlated because of course the euro and the pound can be quite highly correlated and of course they're both taking positions against the Australian dollar.
Technically wise on a data chart, they're looking fantastic. On a weekly chart that I'm trading in the same direction as what I'm seeing. For me it's not too big an issue. Overall I‘m seeing a lot of strength in the Aussie dollar right now as I'm recording this and I'm seeing some weakness in the euro and also the British pound.
I've taken both of those positions. Both sale positions. As I've just looked on my charts just before I started making this video, they're both looking very good. Of course, because they're highly correlated if both do end up making all go in the right direction then they're both likely to go that way.
Likewise if they go the wrong way then could be quite highly likely that they'll both maybe be stopped at if they both go wrong. That is really as I'm looking at the charts right now.
Trading the short time frame charts
When it comes to shorter of time frame charts, I'm still looking for trades in the same direction on those same 2 pairs. Really it's a case about seeing what's on the charts at the same … What's showing right now as I'm looking at my charts.
Of course, because I've taken those 2 on the daily time frames, if I see any other Australian dollar pairs today then if they're on different time frames charts then yes I'll take them if they're showing the good technical setup. For me today, I might be looking for buy trades on the Australian dollar pays.
I'm also seeing some weakness in Japanese yen so if I can see some opportunities to buy the Australian dollar Japanese yen, then it's all really trading with my longer term view and trading what I'm seeing on the charts right now.
Multiple charts all showing similar setups
To give you another example there John, if let's say, there were 5 Japanese yen pairs let's say. All showing the same looking signal at the same time then really that's probably a few too many to be taking unless you drastically reduce the risk that you take on all 5 of those. You could look at taking all 5.
The other way of looking at it is to say, "Well which of the corresponding currencies are looking either very, very strong or very weak against the Japanese yen at that time." Then look at maybe picking out 1 or 2 of those. Exactly the same way that I've done today on the Australian dollar pairs...]]>http://theforextradingcoach.com/?p=6030Sun, 06 Dec 2015 20:53:04 +0000Andrew MitchemPodcast: How to trade high correlated Forex pairs In this video: 00:50 – How I use currency correlation to trade 02:10 – Trading the short time frame charts 03:03 – Multiple charts all showing similar setups 03:55 – EUR and GBP weakness against...
How to trade high correlated Forex pairs
In this video:
00:50 – How I use currency correlation to trade
02:10 – Trading the short time frame charts
03:03 – Multiple charts all showing similar setups
03:55 – EUR and GBP weakness against the AUD
04:10 – 12 Days of Christmas special offer now live
Today's video is all about currency correlation so let's get into that right now.
Hi Forex Trade, this is Andrew Mitchem here, the Forex Trading Coach and I'm in Adelaide at the world famous Jacob's Creek Winery. We've just had a nice sample of some of their reds and very good they are too.
Today's video and podcast is all about correlation. I've had an email from John and John said to me, "Hey Andrew can you talk about correlation? How you use correlation. How you look at different time frame charts and really what's your take on it? What do I need to do so I'm not taking too many trades or highly related and correlated?" Really, John, my take on it is this.
How I use currency correlation to trade
Because I'm a technical trader, I like to look at the charts and trade what I see. Give you an example. Just this morning, I've taken 2 trades on my charts that are on right now. One's on the euro Australian dollar. The other's on the British pound Australian dollar. You could argue that they're quite highly correlated because of course the euro and the pound can be quite highly correlated and of course they're both taking positions against the Australian dollar.
Technically wise on a data chart, they're looking fantastic. On a weekly chart that I'm trading in the same direction as what I'm seeing. For me it's not too big an issue. Overall I‘m seeing a lot of strength in the Aussie dollar right now as I'm recording this and I'm seeing some weakness in the euro and also the British pound.
I've taken both of those positions. Both sale positions. As I've just looked on my charts just before I started making this video, they're both looking very good. Of course, because they're highly correlated if both do end up making all go in the right direction then they're both likely to go that way.
Likewise if they go the wrong way then could be quite highly likely that they'll both maybe be stopped at if they both go wrong. That is really as I'm looking at the charts right now.
Trading the short time frame charts
When it comes to shorter of time frame charts, I'm still looking for trades in the same direction on those same 2 pairs. Really it's a case about seeing what's on the charts at the same … What's showing right now as I'm looking at my charts.
Of course, because I've taken those 2 on the daily time frames, if I see any other Australian dollar pairs today then if they're on different time frames charts then yes I'll take them if they're showing the good technical setup. For me today, I might be looking for buy trades on the Australian dollar pays.
I'm also seeing some weakness in Japanese yen so if I can see some opportunities to buy the Australian dollar Japanese yen, then it's all really trading with my longer term view and trading what I'm seeing on the charts right now.
Multiple charts all showing similar setups
To give you another example there John, if let's say, there were 5 Japanese yen pairs let's say. All showing the same looking signal at the same time then really that's probably a few too many to be taking unless you drastically reduce the risk that you take on all 5 of those. You could look at taking all 5.
The other way of looking at it is to say, "Well which of the corresponding currencies are looking either very, very strong or very weak against the Japanese yen at that time." Then look at maybe picking out 1 or 2 of those. Exactly the same way that I've done today on the Australian dollar pairs...]]>291falsefullhttps://www.spreaker.com/episode/using-limit-orders-to-get-in-the-forex-market-at-a-better-price--12239725
Using limit orders to get in the Forex market at a better price
In this video:
00:45 A 2% account gain for the week while trading on holiday/vacation in Queenstown
01:05 Support and Resistance levels
01:50 Draw these levels on your charts
02:51 Use limit orders to get your position filled at a better price
03:30 Increases your reward:risk ratio
Would you like some trading tips on how to best use limit orders in order to get into your Forextrades at a better price? If you would, listen up, got some great tips to share with you.
Hi Forex traders, this is Andrew Mitchem here, the Forex Trading Coach coming today from beautiful Queenstown in the south island of New Zealand.
As you can see behind me, it's just a stunning evening here, love this place. One of the best places in the world. It's just so great to be here and to be able to trading daily charts and on Monday, I took some weekly chart trades and in my evening, I'm looking at 6 hours and 12 hour charts.
A 2% account gain for the week while trading on holiday/vacation in Queenstown
That's it, probably no more than about 20 minutes of chart looking per day. Personally, so far this week, I'm up nearly 2%. I've got to be very happy with that.
On to today's subject. I had an email from Rafael. Rafael said, "Hey Andrew, can you talk about how to best use limit orders in order to get into the best price? Can you also talk about support and resistance levels.
Support and Resistance levels
And why the price quite often bounces at those levels and how we can take advantage of that?"
Support and resistance levels can be many things. They can be previous highs, previous lows. They can be round numbers such as 00s and 50s, such prices ending in 00 and 50. Look for those on the charts. You can draw those with horizontal lines quite easily on your charts. You would just be amazed how often the price does bounce at those levels, or come very close to a 00 level. It will come all the way down and it will bounce and go up again. No different to you going into a shop and buying something for $9.99, or $99, things like that. Its psychological bounce levels.
Forex traders, we take that into accounts so often and it's amazing how often the price does bounce at those levels.
Draw these levels on your charts
So, When you're looking at entering a trade, look at those levels, draw them on your chart. See where there's been previous swing highs and lows.
What you quite often find is, when you have support and resistance levels and don't get the support levels, or price below the current price, that means that this support means that if price goes down to that level. It could be supported at that level and it may well bounce back again.
However, if it breaks through that support level, it quite often goes and sticks the next support level, which would be the next major level below that whereas resistance is a level above the current price and price will quite often get to that level. It could store at that price. It could then retrace a bit. If it does break through that level, then it's quite likely to go up to the next resistance level, wherever that may be on your charts. It's really important that you have a good understanding of where to draw support and resistance levels.
I use an indicator which draws them on my charts automatically for me, and it just makes life so much easier. You can also just see those levels on your charts yourself and manually draw them on if you need to.
But, what I'm looking at doing is,
Use limit orders to get your position filled at a better price
if I'm taking a bi-trade, let's say. Rather than entering right directly into the market at the live price.
What I quite often do is take a buy-limit,]]>http://theforextradingcoach.com/?p=6014Sun, 29 Nov 2015 20:52:11 +0000Andrew MitchemPodcast: Using limit orders to get in the Forex market at a better price In this video: 00:45 A 2% account gain for the week while trading on holiday/vacation in Queenstown 01:05 Support and Resistance levels 01:50 Draw these levels on your...
Using limit orders to get in the Forex market at a better price
In this video:
00:45 A 2% account gain for the week while trading on holiday/vacation in Queenstown
01:05 Support and Resistance levels
01:50 Draw these levels on your charts
02:51 Use limit orders to get your position filled at a better price
03:30 Increases your reward:risk ratio
Would you like some trading tips on how to best use limit orders in order to get into your Forextrades at a better price? If you would, listen up, got some great tips to share with you.
Hi Forex traders, this is Andrew Mitchem here, the Forex Trading Coach coming today from beautiful Queenstown in the south island of New Zealand.
As you can see behind me, it's just a stunning evening here, love this place. One of the best places in the world. It's just so great to be here and to be able to trading daily charts and on Monday, I took some weekly chart trades and in my evening, I'm looking at 6 hours and 12 hour charts.
A 2% account gain for the week while trading on holiday/vacation in Queenstown
That's it, probably no more than about 20 minutes of chart looking per day. Personally, so far this week, I'm up nearly 2%. I've got to be very happy with that.
On to today's subject. I had an email from Rafael. Rafael said, "Hey Andrew, can you talk about how to best use limit orders in order to get into the best price? Can you also talk about support and resistance levels.
Support and Resistance levels
And why the price quite often bounces at those levels and how we can take advantage of that?"
Support and resistance levels can be many things. They can be previous highs, previous lows. They can be round numbers such as 00s and 50s, such prices ending in 00 and 50. Look for those on the charts. You can draw those with horizontal lines quite easily on your charts. You would just be amazed how often the price does bounce at those levels, or come very close to a 00 level. It will come all the way down and it will bounce and go up again. No different to you going into a shop and buying something for $9.99, or $99, things like that. Its psychological bounce levels.
Forex traders, we take that into accounts so often and it's amazing how often the price does bounce at those levels.
Draw these levels on your charts
So, When you're looking at entering a trade, look at those levels, draw them on your chart. See where there's been previous swing highs and lows.
What you quite often find is, when you have support and resistance levels and don't get the support levels, or price below the current price, that means that this support means that if price goes down to that level. It could be supported at that level and it may well bounce back again.
However, if it breaks through that support level, it quite often goes and sticks the next support level, which would be the next major level below that whereas resistance is a level above the current price and price will quite often get to that level. It could store at that price. It could then retrace a bit. If it does break through that level, then it's quite likely to go up to the next resistance level, wherever that may be on your charts. It's really important that you have a good understanding of where to draw support and resistance levels.
I use an indicator which draws them on my charts automatically for me, and it just makes life so much easier. You can also just see those levels on your charts yourself and manually draw them on if you need to.
But, what I'm looking at doing is,
Use limit orders to get your position filled at a better price
if I'm taking a bi-trade, let's say. Rather than entering right directly into the market at the live price.
What I quite often do is take a buy-limit,]]>264falsefullhttps://www.spreaker.com/episode/should-you-use-a-stop-loss--12239726
Should you use a Stop Loss?
In this video:
00:35 – Always use a Stop Loss
02:04 – Every trade should have the same risk
02:30 – Where to place your Stop Loss?
03:40 – What position size do I need?
03:55 – Clients making excellent returns
Should you use a stop loss as a Forex trader? Let's answer that question and more right now.
Hi Forex traders, it's Andrew Mitchem here. Today's Friday the 20th of November and I've received an email from Dan, I believe he's in the US, and Dan said to me, Andrew, I'm not sure if you use stop losses. Can you tell me if you do use a stop loss in your own trading and if you do, how do you place that stop loss?
Always use a Stop Loss
The answer Dan is, absolutely yes, 100 percent I do use a stop loss and I always use a stop loss. Why? Well, because it's an insurance protection against my trading account. What I don't want to see is my trade go wrong and go drastically wrong and I lose a huge amount of money from my one trade. It's just not a good way to trade.
So many people come to me and they say, look, I've just got stopped badly, if only I didn't use a stop loss I would have then remained in trade and would have made some money. That's possibly true in some cases, in many cases from time to time, but the problem is, is that it's just the ones that you pick out. What you don't see when you identify those ones that just get stopped down is the ones that may have hit your stop loss and then gone a lot further. For me, I always use a stop loss, have to use a stop loss. I think you then become a, almost like into a gambling situation if you don't use one.
That's just my personal opinion, but hey look, 11 years after I started trading, I'm still trading today and I've never come close to blowing an account by using that safe approach to my trading. I mean, you think of it this way, if you have an equal risk on every trade like I do, an equal risk regardless of the timeframe, of the chart, regardless of the length of time the trade's in the market, regardless of the currency pair, regardless of whether it's a reversal pattern, a continuation pattern, doesn't matter what it is, every trade has the same risk.
Every trade should have the same risk
The only way that you can control that risk is to have a stop loss in place, because once you know where that stop loss needs to be, you can then calculate the lot size, the position size that you need to place on that particular trade so that if that trade goes wrong, you lose a set amount of money, a percentage of your account or a set amount of money, which ever way that you like to trade.
Where to place your Stop Loss?
In order to get that right, you need to know where to place your stop loss. For me, the stop loss needs to be placed at a level that says, this is a safety level for this particular trade.
If this level gets hit, wherever you decide to put it and I've got many ways of where I, you know, well not many ways, but I've got ways of where I know I'm placing my stop loss on every trade. You have to accept that if this level gets hit, then I'm accepting that the trade set up that I saw at the time is wrong. I get it wrong, it's unlucky, the market goes against me, whatever the reason is, it gets stopped down so I have to say that if this level gets hit, and I'm buying up here, and if the price moves down and gets, hits this level and I've got stopped out, I accept that I'm incorrect on that trade.
It goes against me, I lose money, but I know a predefined amount of money or percentage of my account that I lose on that trade and I can live with that. I'm happy with that level. It's a comfortable level, it doesn't hurt me, it doesn't mentally scar me, it doesn't get in the way of ruining my trading account. That's why personally I always go to no more than half of...]]>http://theforextradingcoach.com/?p=6004Sun, 22 Nov 2015 22:38:50 +0000Andrew MitchemPodcast: Should you use a Stop Loss? In this video: 00:35 – Always use a Stop Loss 02:04 – Every trade should have the same risk 02:30 – Where to place your Stop Loss? 03:40 – What position size do I need? 03:55 – Clients making excellent...
Should you use a Stop Loss?
In this video:
00:35 – Always use a Stop Loss
02:04 – Every trade should have the same risk
02:30 – Where to place your Stop Loss?
03:40 – What position size do I need?
03:55 – Clients making excellent returns
Should you use a stop loss as a Forex trader? Let's answer that question and more right now.
Hi Forex traders, it's Andrew Mitchem here. Today's Friday the 20th of November and I've received an email from Dan, I believe he's in the US, and Dan said to me, Andrew, I'm not sure if you use stop losses. Can you tell me if you do use a stop loss in your own trading and if you do, how do you place that stop loss?
Always use a Stop Loss
The answer Dan is, absolutely yes, 100 percent I do use a stop loss and I always use a stop loss. Why? Well, because it's an insurance protection against my trading account. What I don't want to see is my trade go wrong and go drastically wrong and I lose a huge amount of money from my one trade. It's just not a good way to trade.
So many people come to me and they say, look, I've just got stopped badly, if only I didn't use a stop loss I would have then remained in trade and would have made some money. That's possibly true in some cases, in many cases from time to time, but the problem is, is that it's just the ones that you pick out. What you don't see when you identify those ones that just get stopped down is the ones that may have hit your stop loss and then gone a lot further. For me, I always use a stop loss, have to use a stop loss. I think you then become a, almost like into a gambling situation if you don't use one.
That's just my personal opinion, but hey look, 11 years after I started trading, I'm still trading today and I've never come close to blowing an account by using that safe approach to my trading. I mean, you think of it this way, if you have an equal risk on every trade like I do, an equal risk regardless of the timeframe, of the chart, regardless of the length of time the trade's in the market, regardless of the currency pair, regardless of whether it's a reversal pattern, a continuation pattern, doesn't matter what it is, every trade has the same risk.
Every trade should have the same risk
The only way that you can control that risk is to have a stop loss in place, because once you know where that stop loss needs to be, you can then calculate the lot size, the position size that you need to place on that particular trade so that if that trade goes wrong, you lose a set amount of money, a percentage of your account or a set amount of money, which ever way that you like to trade.
Where to place your Stop Loss?
In order to get that right, you need to know where to place your stop loss. For me, the stop loss needs to be placed at a level that says, this is a safety level for this particular trade.
If this level gets hit, wherever you decide to put it and I've got many ways of where I, you know, well not many ways, but I've got ways of where I know I'm placing my stop loss on every trade. You have to accept that if this level gets hit, then I'm accepting that the trade set up that I saw at the time is wrong. I get it wrong, it's unlucky, the market goes against me, whatever the reason is, it gets stopped down so I have to say that if this level gets hit, and I'm buying up here, and if the price moves down and gets, hits this level and I've got stopped out, I accept that I'm incorrect on that trade.
It goes against me, I lose money, but I know a predefined amount of money or percentage of my account that I lose on that trade and I can live with that. I'm happy with that level. It's a comfortable level, it doesn't hurt me, it doesn't mentally scar me, it doesn't get in the way of ruining my trading account. That's why personally I always go to no more than half of...]]>320falsefullhttps://www.spreaker.com/episode/tips-on-entering-the-market-at-a-better-position--12239728
Tips on entering the market at a better position
In this video:
0:36 Are you getting into a new trade too late?
1:53 Reversal trades and Continuation trades
3:30 Client makes nearly 50% this year in 10 months
4:18 How I can best help you with your trading
Would you like some tips and information regarding getting your entries better as a Forex trader? If you would, then listen up, we got some great information to share with you.
Hi traders, this is Andrew Mitchem here, the Forex trading coach in today's video podcast. I want to talk about getting you better entries into your new Forex trading positions.
Are you getting into a new trade too late?
The reason for this video on podcast comes about as a result of an email from a lady called Jane, who said to me, "Andrew what I'm finding I'm doing is I'm leaving my entries far too late, by the time I actually decide to take the position, most of the move has happened, and I'm getting in far too late, and the trades are reversing on me and I'm getting stopped out even though I'm jumping in on what looks like a fairly good trend." It is a common problem with so many people. It tends to happen regardless of what currency pays you're trading, or even what time-frames you are trading.
The problem is, I believe this, that because so many people use lagging indicators, they have to wait for such a long amount of time for indicator A to cross over indicator B, or for it to change or paint a different color. Whatever that indicator does, or group of indicators do, the problem is that by the time that all that happens, and all those lagging indicators have finally caught up to show you there is a trend happening and an entry position. Then by the time that that has happened, then most of the time what you find is that the movement and that trend within the market has already happened. You are jumping in way too late.
Reversal trades and Continuation trades
Whereas the way that I like to trade uses price action and that generally gives you a far sooner entry. There is two different types of ways that I like to trade. One is called a reversal trade and the other is a continuation trade. They both have their pros and cons. A reversal trade on the chart is when you've had let's say a very strong uptrend and then there is a signal or an indication that the price is low to tip over and then start going short. That looks very good and very dramatic on a chart. It is a higher risk trade because you are trading against the main trend, or the main previous trend. When you see that happening on the chart and you get other things backing it up, reasons why it's bounced at that level and various other things that we are looking for. If you get that reversal trade right it does look extremely impressive.
The other way of trading is let's see, we've had that big uptrend and then you've had a pullback and there a retracement against that main uptrend. The trend is now moved back and then you are getting an indication to go along again to buy again. That's what I call a continuation trade and that in some ways is a lot safer looking trade. Not quite as dramatic to look at in the charts, but in some ways gives you a higher probability trade because you are trading with the main direction but after a pullback.
So if Jane is saying she is getting into the trade far too late, the answer really are to 1, use price action and look for that reversal signal or if you see that movement happening, then waiting for a pullback against that main trend and then look to ride the main direction again, as in the continuation trade. Whichever way you take, there is two really good high probability ways of trading there, which takes the focus away from lagging indicators and getting into a trend far too late. So I hope that that helps.]]>http://theforextradingcoach.com/?p=5979Sun, 15 Nov 2015 20:41:43 +0000Andrew MitchemPodcast: Tips on entering the market at a better position In this video: 0:36 Are you getting into a new trade too late? 1:53 Reversal trades and Continuation trades 3:30 Client makes nearly 50% this year in 10 months 4:18 How I can best help...
Tips on entering the market at a better position
In this video:
0:36 Are you getting into a new trade too late?
1:53 Reversal trades and Continuation trades
3:30 Client makes nearly 50% this year in 10 months
4:18 How I can best help you with your trading
Would you like some tips and information regarding getting your entries better as a Forex trader? If you would, then listen up, we got some great information to share with you.
Hi traders, this is Andrew Mitchem here, the Forex trading coach in today's video podcast. I want to talk about getting you better entries into your new Forex trading positions.
Are you getting into a new trade too late?
The reason for this video on podcast comes about as a result of an email from a lady called Jane, who said to me, "Andrew what I'm finding I'm doing is I'm leaving my entries far too late, by the time I actually decide to take the position, most of the move has happened, and I'm getting in far too late, and the trades are reversing on me and I'm getting stopped out even though I'm jumping in on what looks like a fairly good trend." It is a common problem with so many people. It tends to happen regardless of what currency pays you're trading, or even what time-frames you are trading.
The problem is, I believe this, that because so many people use lagging indicators, they have to wait for such a long amount of time for indicator A to cross over indicator B, or for it to change or paint a different color. Whatever that indicator does, or group of indicators do, the problem is that by the time that all that happens, and all those lagging indicators have finally caught up to show you there is a trend happening and an entry position. Then by the time that that has happened, then most of the time what you find is that the movement and that trend within the market has already happened. You are jumping in way too late.
Reversal trades and Continuation trades
Whereas the way that I like to trade uses price action and that generally gives you a far sooner entry. There is two different types of ways that I like to trade. One is called a reversal trade and the other is a continuation trade. They both have their pros and cons. A reversal trade on the chart is when you've had let's say a very strong uptrend and then there is a signal or an indication that the price is low to tip over and then start going short. That looks very good and very dramatic on a chart. It is a higher risk trade because you are trading against the main trend, or the main previous trend. When you see that happening on the chart and you get other things backing it up, reasons why it's bounced at that level and various other things that we are looking for. If you get that reversal trade right it does look extremely impressive.
The other way of trading is let's see, we've had that big uptrend and then you've had a pullback and there a retracement against that main uptrend. The trend is now moved back and then you are getting an indication to go along again to buy again. That's what I call a continuation trade and that in some ways is a lot safer looking trade. Not quite as dramatic to look at in the charts, but in some ways gives you a higher probability trade because you are trading with the main direction but after a pullback.
So if Jane is saying she is getting into the trade far too late, the answer really are to 1, use price action and look for that reversal signal or if you see that movement happening, then waiting for a pullback against that main trend and then look to ride the main direction again, as in the continuation trade. Whichever way you take, there is two really good high probability ways of trading there, which takes the focus away from lagging indicators and getting into a trend far too late. So I hope that that helps.]]>344falsefullhttps://www.spreaker.com/episode/why-over-trading-can-be-harmful-to-your-forex-success--12239727
Why over-trading can be harmful to your Forex success
In this video:
1:06 Why Focus on A-Grade Trade Setups
2:44 Be Selective with Trade Positions
4:13 Less Can Be More!
Want to talk about why over-trading can be harmful to your Forex success, so let's get into that right now.
Hi Forex traders, this is Andrew Mitchem here. The owner of the Forex Trading Coach, and in today's video and podcast I want to talk about why over-trading can be so detrimental to your Forex success, and it's a problem that so many traders have.
I know full well what it feels like, because when I started trading I was in exactly the same position. I think the problem is that now most people feel that now they want to be a trader. Whether it's a part time trader or a full time trader, they feel that they have to always have a position open, or many positions open into the market. Otherwise they feel like they're not really trading, and so I think people then jump into trades almost like without getting the perfect setups. They just take trades because they feel that they should be doing something, and are just a bit worried about moving or missing moves in the market.
Why Focus on A-Grade Trade Setups
Whereas what you really needs to be doing is eliminating those sort of 50/50 trade set ups, and really focusing on those A grade set ups. Those trade setups that give you those high probability trades, and those great reward to risks. If you can concentrate on those, and try to eliminate some of those more 50/50 setups then you'll do far better from your trading.
As an example this week I took five trades on Tuesday … Well first of all let's start with Monday.
Monday I saw nothing. Monday was a really quiet day. Couldn't really see anything justifying/worth taking.
Tuesday I took five positions over all the different time frames that I look at, and in fact only one of those trades actually got filled into the market because I placed my trades as pending limit orders. Four of them didn't even get filled in the time allocated to get filled, so those four were automatically deleted. Now the one that did get filled made full profit, and it made 1.52% on my account, and it was just over a three to one reward to risk trade. That was Tuesday.
Wednesday I took two trades.
Yesterday, being Thursday, I took three. One of them has profited, and two have been stopped out.
Moving into Friday, today, I'm probably not expecting too much to happen, because today's the first Friday of the month.
Therefore it's non-farm payrolls, or non-farm employment day, so all I've taken five, seven, ten trades so far this week, and I'm up 3.9% on my account right now. With still one day to go.
Be Selective with Trade Positions
It just shows that you don't need to take a huge amount of trades in order to be profitable. For some people ten trades in the week might be a lot. For some people it may be quite a small amount. Just depends on how you trade, but the important thing is to be selective on the positions that you do take.
Just to give you another example, I was talking to some clients of mine over in Canada. Who've been with me for several years, and they've developed a trading robot, NEA. Using my strategies and principles of trading, and on a live account so far this year, so ten completed months, there up over 44% on their account. With just a 4% draw down, but the interesting thing is they've only taken 38 trades. Well the robot's only taken 38 trades in the entire ten months. That's taking less than four trades per month, yet they're still up 44% on a live account.
Now if you say to most people, "I'm going to take only 38 trades in ten months." Most people would just think that's completely boring, far too slow, not enough price action,]]>http://theforextradingcoach.com/?p=5953Sun, 08 Nov 2015 21:56:55 +0000Andrew MitchemPodcast: Why over-trading can be harmful to your Forex success In this video: 1:06 Why Focus on A-Grade Trade Setups 2:44 Be Selective with Trade Positions 4:13 Less Can Be More! Want to talk about why over-trading can be harmful to your Forex...
Why over-trading can be harmful to your Forex success
In this video:
1:06 Why Focus on A-Grade Trade Setups
2:44 Be Selective with Trade Positions
4:13 Less Can Be More!
Want to talk about why over-trading can be harmful to your Forex success, so let's get into that right now.
Hi Forex traders, this is Andrew Mitchem here. The owner of the Forex Trading Coach, and in today's video and podcast I want to talk about why over-trading can be so detrimental to your Forex success, and it's a problem that so many traders have.
I know full well what it feels like, because when I started trading I was in exactly the same position. I think the problem is that now most people feel that now they want to be a trader. Whether it's a part time trader or a full time trader, they feel that they have to always have a position open, or many positions open into the market. Otherwise they feel like they're not really trading, and so I think people then jump into trades almost like without getting the perfect setups. They just take trades because they feel that they should be doing something, and are just a bit worried about moving or missing moves in the market.
Why Focus on A-Grade Trade Setups
Whereas what you really needs to be doing is eliminating those sort of 50/50 trade set ups, and really focusing on those A grade set ups. Those trade setups that give you those high probability trades, and those great reward to risks. If you can concentrate on those, and try to eliminate some of those more 50/50 setups then you'll do far better from your trading.
As an example this week I took five trades on Tuesday … Well first of all let's start with Monday.
Monday I saw nothing. Monday was a really quiet day. Couldn't really see anything justifying/worth taking.
Tuesday I took five positions over all the different time frames that I look at, and in fact only one of those trades actually got filled into the market because I placed my trades as pending limit orders. Four of them didn't even get filled in the time allocated to get filled, so those four were automatically deleted. Now the one that did get filled made full profit, and it made 1.52% on my account, and it was just over a three to one reward to risk trade. That was Tuesday.
Wednesday I took two trades.
Yesterday, being Thursday, I took three. One of them has profited, and two have been stopped out.
Moving into Friday, today, I'm probably not expecting too much to happen, because today's the first Friday of the month.
Therefore it's non-farm payrolls, or non-farm employment day, so all I've taken five, seven, ten trades so far this week, and I'm up 3.9% on my account right now. With still one day to go.
Be Selective with Trade Positions
It just shows that you don't need to take a huge amount of trades in order to be profitable. For some people ten trades in the week might be a lot. For some people it may be quite a small amount. Just depends on how you trade, but the important thing is to be selective on the positions that you do take.
Just to give you another example, I was talking to some clients of mine over in Canada. Who've been with me for several years, and they've developed a trading robot, NEA. Using my strategies and principles of trading, and on a live account so far this year, so ten completed months, there up over 44% on their account. With just a 4% draw down, but the interesting thing is they've only taken 38 trades. Well the robot's only taken 38 trades in the entire ten months. That's taking less than four trades per month, yet they're still up 44% on a live account.
Now if you say to most people, "I'm going to take only 38 trades in ten months." Most people would just think that's completely boring, far too slow, not enough price action,]]>288falsefullhttps://www.spreaker.com/episode/how-to-keep-your-forex-trading-stress-free--12239729
How To Keep Your Forex Trading Stress Free
In this video:
00:34 The Trading Slave
02:05 A Lot More Relaxed Way of Trading
04:40 Don't Forget: Clocks Change in New York
Would you like some tips about how to keep your trading as stress free as possible? If you would, listen up, I got some great tips and information for you.
Hi Forex traders this is Andrew Mitchem, the Forex Trading Coach. Today is Friday the 30th of October, and I've got some great tips and information to give you and to share with you right now, to try and help keep your trading as stress free as possible.
The Trading Slave
The reason I want to talk about that is because I was watching a video on YouTube just this morning, and it was a video of supposedly a very successful Forex trader. I've got no doubt that this guy is extremely successful, supposedly a multi, multi millionaire through his trading, and that is wonderful, because there's very few people who are actually very successful at trading. I'm not knocking the guy in terms of his Forex achievements, definitely not, but what I did see on the video was an enormous amount of stress that the guy was under.
He had screens all over the place. Sure, I've got four screens behind me here, but he had screens everywhere, with different news feeds coming through, and Twitter feeds, and all sorts of different feeds and audio going, and TV in the background with CNBC, and it was like in this little cave or dungeon that he was trading in. According to the video, he was a basically a complete slave to his trading. He was trying to capture about three pips here, and five or six pips there, and watching news events and just on the phone, on Skype, on everything. It was almost over-stressful just watching the guy, and it was just a video on YouTube. That's all well and good if that's what he wants to do. As I mentioned, he seems very successful, so I've got no issues with the actual results. It's just that the way that he was trading, to me, I personally believe there's better ways of trading.
A Lot More Relaxed Way of Trading
I'm not to say that my way is the right way or the only way, far from it, but what I like to try and do is try and take the longer term approach to trading, and look at those slightly higher timeframe charts. The beauty of that is if you trade by looking only on the completion of a candle, then what it does is it frees you up. Just to give you an example of that, I've been flying for about three hours today with my wife. I placed my daily chart trades, I looked through the four hours, the six- and the 12-hour charts all at the same time which is my morning time here in New Zealand. Place the trades, the kids went to school, I was then off, been flying the helicopter for about three hours and I've just got back.
It's now heading towards the European session now, and I'll look at the 4-hour charts and then again, tonight my time, I'll look at the four-, six- and 12-hour charts and that's it for the day. Again, that's the beauty of trading those longer timeframe charts. Because I place pending limit orders on those trades, I'm not having to sit there stressed about every single pip moving up and down and being there at the perfect time, or when that perfect opportunity shows, or when there's a news announcement. If, for instance, I'm taking a buy trade on the longer timeframe charts, very rarely am I actually placing a buy trade right at the market and actually waiting for a retracement first. I don't sit there and wait for that retracement to happen. I'm just placing a pending buy order, like a buy limit to fill, if the market retraces first, to get me into the better price. That dramatically increases the return from that trade.
As I mentioned, there's all sorts of ways you can trade. It's just that for me, that is a lot easier to work around my life,]]>http://theforextradingcoach.com/?p=5937Sun, 01 Nov 2015 15:30:08 +0000Andrew MitchemPodcast: How To Keep Your Forex Trading Stress Free In this video: 00:34 The Trading Slave 02:05 A Lot More Relaxed Way of Trading 04:40 Don't Forget: Clocks Change in New York Would you like some tips about how to keep your trading as stress...
How To Keep Your Forex Trading Stress Free
In this video:
00:34 The Trading Slave
02:05 A Lot More Relaxed Way of Trading
04:40 Don't Forget: Clocks Change in New York
Would you like some tips about how to keep your trading as stress free as possible? If you would, listen up, I got some great tips and information for you.
Hi Forex traders this is Andrew Mitchem, the Forex Trading Coach. Today is Friday the 30th of October, and I've got some great tips and information to give you and to share with you right now, to try and help keep your trading as stress free as possible.
The Trading Slave
The reason I want to talk about that is because I was watching a video on YouTube just this morning, and it was a video of supposedly a very successful Forex trader. I've got no doubt that this guy is extremely successful, supposedly a multi, multi millionaire through his trading, and that is wonderful, because there's very few people who are actually very successful at trading. I'm not knocking the guy in terms of his Forex achievements, definitely not, but what I did see on the video was an enormous amount of stress that the guy was under.
He had screens all over the place. Sure, I've got four screens behind me here, but he had screens everywhere, with different news feeds coming through, and Twitter feeds, and all sorts of different feeds and audio going, and TV in the background with CNBC, and it was like in this little cave or dungeon that he was trading in. According to the video, he was a basically a complete slave to his trading. He was trying to capture about three pips here, and five or six pips there, and watching news events and just on the phone, on Skype, on everything. It was almost over-stressful just watching the guy, and it was just a video on YouTube. That's all well and good if that's what he wants to do. As I mentioned, he seems very successful, so I've got no issues with the actual results. It's just that the way that he was trading, to me, I personally believe there's better ways of trading.
A Lot More Relaxed Way of Trading
I'm not to say that my way is the right way or the only way, far from it, but what I like to try and do is try and take the longer term approach to trading, and look at those slightly higher timeframe charts. The beauty of that is if you trade by looking only on the completion of a candle, then what it does is it frees you up. Just to give you an example of that, I've been flying for about three hours today with my wife. I placed my daily chart trades, I looked through the four hours, the six- and the 12-hour charts all at the same time which is my morning time here in New Zealand. Place the trades, the kids went to school, I was then off, been flying the helicopter for about three hours and I've just got back.
It's now heading towards the European session now, and I'll look at the 4-hour charts and then again, tonight my time, I'll look at the four-, six- and 12-hour charts and that's it for the day. Again, that's the beauty of trading those longer timeframe charts. Because I place pending limit orders on those trades, I'm not having to sit there stressed about every single pip moving up and down and being there at the perfect time, or when that perfect opportunity shows, or when there's a news announcement. If, for instance, I'm taking a buy trade on the longer timeframe charts, very rarely am I actually placing a buy trade right at the market and actually waiting for a retracement first. I don't sit there and wait for that retracement to happen. I'm just placing a pending buy order, like a buy limit to fill, if the market retraces first, to get me into the better price. That dramatically increases the return from that trade.
As I mentioned, there's all sorts of ways you can trade. It's just that for me, that is a lot easier to work around my life,]]>304falsefullhttps://www.spreaker.com/episode/can-a-trading-strategy-work-in-the-long-run-without-curve-fitting-and-over-optimizing--12239730
Can a trading strategy work in the long run without curve fitting and over optimizing?
In this video:
00:57 Having Your Own Strategy
02:53 Why Trade Price Action
06:14 The Best Trading Option
How do you know if your trading strategy is going to work in the long run without curve fitting and without over optimizing? Let me explain more details about that right now.
Hi Forex traders, this is Andrew Mitchem here, the Forex Trading Coach and today is Friday, the 23rd of October. I've received an email from someone saying, "Hey look Andrew, I'm developing my own strategy, but my problem is I really have no confidence in that strategy long term, like in the long run. How do I know that it's going to work in the longer term, in several weeks from now and months, years and many years from now? How do I know that without curve fitting my strategy and over optimizing it as time goes on?"
Having Your Own Strategy
It's something that affects probably most Forex traders when they have their own strategy. It's almost like, do you have confidence that that strategy has not only worked in the past, but will work in the future and of course, no one knows the exact answer to the future but there are certain things you can do to put probability on your side and I explain about that shortly. Because the problem that many traders face is that they come up with a strategy and then they curve fit it, so by curve fitting I mean they almost make it fit to the perfect conditions. With optimization, you almost take the perfect settings, if you're using a group of let's say indicators to make the most profit with the least draw down, etc. on back testing data.
I used to do that myself, you know, I'm guilty as anybody. When I first started trading I used all sorts of different back testing software, and some very good software as well, but the problem is that I was always curve fitting and optimizing my strategy. Of course you then go and say, yeah, this is the best strategy ever. It's going to beat everything that there is, just made me X amount of millions and millions of dollars and so you take it live and of course inevitably it doesn't work in the current conditions and it fails and you go through the whole cycle again.
You think, oh maybe if I add this indicator or tweak this a little bit here or there or change this, you know, you think that will suddenly be the magic fix and the same thing happens. You go through the cycle again, and you take it live, it might make a dollar or two to start with and again, it probably fails. As I said, I've been there myself and I know that the issues and the frustration that that causes, but there is a solution, well I certainly found a solution that works for me. That is to come back to price action trading.
Why Trade Price Action
I'm a big believer in price action trading and my strategy that I've got going behind me on the screen, if you're watching the video, sorry if you're listening to the podcast, you can't see, but my strategy has been unchanged for eight years now. The reason that it's been unchanged for eight years is because it's based on price action. Price action will always be price action regardless of the market conditions and that's why I have full confidence, not only does it work really well for the last eight years, I've got confidence it's going to work for the next eight years and more, into the future.
The reason is, is because a lot of strategies unfortunately only work if the conditions are a certain condition. Let's say a lot of strategies only work if the market's trending really, really strongly. Other strategies only work if there's a range bound market or at certain times of the day. Other strategies only work on certain currency pairs or certain timeframe charts. When you think about that, why is that?]]>http://theforextradingcoach.com/?p=5923Sun, 25 Oct 2015 15:30:53 +0000Andrew MitchemPodcast: Can a trading strategy work in the long run without curve fitting and over optimizing? In this video: 00:57 Having Your Own Strategy 02:53 Why Trade Price Action 06:14 The Best Trading Option How do you know if your trading strategy is...
Can a trading strategy work in the long run without curve fitting and over optimizing?
In this video:
00:57 Having Your Own Strategy
02:53 Why Trade Price Action
06:14 The Best Trading Option
How do you know if your trading strategy is going to work in the long run without curve fitting and without over optimizing? Let me explain more details about that right now.
Hi Forex traders, this is Andrew Mitchem here, the Forex Trading Coach and today is Friday, the 23rd of October. I've received an email from someone saying, "Hey look Andrew, I'm developing my own strategy, but my problem is I really have no confidence in that strategy long term, like in the long run. How do I know that it's going to work in the longer term, in several weeks from now and months, years and many years from now? How do I know that without curve fitting my strategy and over optimizing it as time goes on?"
Having Your Own Strategy
It's something that affects probably most Forex traders when they have their own strategy. It's almost like, do you have confidence that that strategy has not only worked in the past, but will work in the future and of course, no one knows the exact answer to the future but there are certain things you can do to put probability on your side and I explain about that shortly. Because the problem that many traders face is that they come up with a strategy and then they curve fit it, so by curve fitting I mean they almost make it fit to the perfect conditions. With optimization, you almost take the perfect settings, if you're using a group of let's say indicators to make the most profit with the least draw down, etc. on back testing data.
I used to do that myself, you know, I'm guilty as anybody. When I first started trading I used all sorts of different back testing software, and some very good software as well, but the problem is that I was always curve fitting and optimizing my strategy. Of course you then go and say, yeah, this is the best strategy ever. It's going to beat everything that there is, just made me X amount of millions and millions of dollars and so you take it live and of course inevitably it doesn't work in the current conditions and it fails and you go through the whole cycle again.
You think, oh maybe if I add this indicator or tweak this a little bit here or there or change this, you know, you think that will suddenly be the magic fix and the same thing happens. You go through the cycle again, and you take it live, it might make a dollar or two to start with and again, it probably fails. As I said, I've been there myself and I know that the issues and the frustration that that causes, but there is a solution, well I certainly found a solution that works for me. That is to come back to price action trading.
Why Trade Price Action
I'm a big believer in price action trading and my strategy that I've got going behind me on the screen, if you're watching the video, sorry if you're listening to the podcast, you can't see, but my strategy has been unchanged for eight years now. The reason that it's been unchanged for eight years is because it's based on price action. Price action will always be price action regardless of the market conditions and that's why I have full confidence, not only does it work really well for the last eight years, I've got confidence it's going to work for the next eight years and more, into the future.
The reason is, is because a lot of strategies unfortunately only work if the conditions are a certain condition. Let's say a lot of strategies only work if the market's trending really, really strongly. Other strategies only work if there's a range bound market or at certain times of the day. Other strategies only work on certain currency pairs or certain timeframe charts. When you think about that, why is that?]]>473falsefullhttps://www.spreaker.com/episode/why-forex-trading-is-one-of-the-best-things-to-learn--12239731
Why Forex trading is one of the best things to learn?
In this video:
00:28 Forex Trading Success Stories
02:20 The Lesson To Be Learned
03:20 The Great Thing About Trading
I want to talk about why I think that Forex trading is one of the best things you could possibly learn. Let's get into that right now.
Hi Forex traders, this is Andrew Mitchem here, the owner of the Forex Trading Coach. today is Friday, the 16th October, and I want to talk about why I just love trading Forex. There's many reasons, and I'm going to give you just a couple stories, to share with you.
Forex Trading Success Stories
I had a phone call yesterday, being Thursday afternoon, from a client of mine who lives here in New Zealand. He said, "Look Andrew, just been having some amazing success trading your strategy." He was perfectly open and admitted that the first few months was not that great.
It took him a while to develop and understand the strategy and his own take on it, but he said, "Look, the last 10 months," he's been with me for about a year, "has just been absolutely fantastic." He gave me an example of five trades that he took the night before, the previous night, on the 8-hour charts, and he made over 10% on his live account. It's a pretty amazing figure when you think about it. Over 10%. I don't do 10% on one day, I certainly don't come close to 10% on one day, but this guy made over 10% on his live account on five charts. It was interesting that it was on the 8-hour charts. I've got some great software that I have for my clients, that allows us to create any timeframe charts that we wish to, on the MT4 charts.
You'd know, if you use MT4, that the standard charts are the 1-minute, the 5, 15, 30, 1-hour, 4-hour, daily, weekly and monthly. I've got great software that I give to all my clients, and allows us to create charts such as 6-hour charts, 8-hour charts, 12-hour charts, whatever timeframe you like. Even if you wanted, say, 2-minutes or 4-minutes, if you're a very short timeframe trader. Brendan was making some great trades on the 8-hour charts and he shared it with me on the phone. We went through and looked at the charts and looked at the set ups. I also then shared that with clients on my live webinar last night. It was just great to show people this is what someone's done, he's seen the set up, he's taken them.
The Lesson To Be Learned
The moral of the story, in his opinion was, you need to almost get rid of all the clutter that you think that you hear, that you see. Get back to the basics of trading what you see on your charts. He said, "If I don't take any, worry about what's happening on the news or anything like that, I'll look at my charts and I'd go off what my charts are telling me is happening. Not so much what I think. If I start thinking the Euro's going to go up, then I see some …" If you see sell/trade set ups, you may not take them, because you think it's going up, so it's really important to get back to basics and trade what you see on the charts.
That's one great Forex story I'd like to share with you. As a coach, and as someone who's helped Brendan along, I just get so much pleasure out of hearing stories like that, because it just really is such a great success story.
The Great Thing About Trading
The other story is that we're trading, as you know, you can trade from anywhere, anytime. I was around one hour late with my daily suggestions today. Very rarely am I late, because I always make a point of being exactly on time, but I said to clients, "Hey, look. I'm away today, I'm flying at the time that the daily suggestions are written. I'm going to be one hour late. Sorry for that." In the end it didn't matter because we take pending orders, and they don't get filled at exactly the time that I write my post an...]]>http://theforextradingcoach.com/?p=5903Mon, 19 Oct 2015 04:53:33 +0000Andrew MitchemPodcast: Why Forex trading is one of the best things to learn? In this video: 00:28 Forex Trading Success Stories 02:20 The Lesson To Be Learned 03:20 The Great Thing About Trading I want to talk about why I think that Forex trading is one of the...
Why Forex trading is one of the best things to learn?
In this video:
00:28 Forex Trading Success Stories
02:20 The Lesson To Be Learned
03:20 The Great Thing About Trading
I want to talk about why I think that Forex trading is one of the best things you could possibly learn. Let's get into that right now.
Hi Forex traders, this is Andrew Mitchem here, the owner of the Forex Trading Coach. today is Friday, the 16th October, and I want to talk about why I just love trading Forex. There's many reasons, and I'm going to give you just a couple stories, to share with you.
Forex Trading Success Stories
I had a phone call yesterday, being Thursday afternoon, from a client of mine who lives here in New Zealand. He said, "Look Andrew, just been having some amazing success trading your strategy." He was perfectly open and admitted that the first few months was not that great.
It took him a while to develop and understand the strategy and his own take on it, but he said, "Look, the last 10 months," he's been with me for about a year, "has just been absolutely fantastic." He gave me an example of five trades that he took the night before, the previous night, on the 8-hour charts, and he made over 10% on his live account. It's a pretty amazing figure when you think about it. Over 10%. I don't do 10% on one day, I certainly don't come close to 10% on one day, but this guy made over 10% on his live account on five charts. It was interesting that it was on the 8-hour charts. I've got some great software that I have for my clients, that allows us to create any timeframe charts that we wish to, on the MT4 charts.
You'd know, if you use MT4, that the standard charts are the 1-minute, the 5, 15, 30, 1-hour, 4-hour, daily, weekly and monthly. I've got great software that I give to all my clients, and allows us to create charts such as 6-hour charts, 8-hour charts, 12-hour charts, whatever timeframe you like. Even if you wanted, say, 2-minutes or 4-minutes, if you're a very short timeframe trader. Brendan was making some great trades on the 8-hour charts and he shared it with me on the phone. We went through and looked at the charts and looked at the set ups. I also then shared that with clients on my live webinar last night. It was just great to show people this is what someone's done, he's seen the set up, he's taken them.
The Lesson To Be Learned
The moral of the story, in his opinion was, you need to almost get rid of all the clutter that you think that you hear, that you see. Get back to the basics of trading what you see on your charts. He said, "If I don't take any, worry about what's happening on the news or anything like that, I'll look at my charts and I'd go off what my charts are telling me is happening. Not so much what I think. If I start thinking the Euro's going to go up, then I see some …" If you see sell/trade set ups, you may not take them, because you think it's going up, so it's really important to get back to basics and trade what you see on the charts.
That's one great Forex story I'd like to share with you. As a coach, and as someone who's helped Brendan along, I just get so much pleasure out of hearing stories like that, because it just really is such a great success story.
The Great Thing About Trading
The other story is that we're trading, as you know, you can trade from anywhere, anytime. I was around one hour late with my daily suggestions today. Very rarely am I late, because I always make a point of being exactly on time, but I said to clients, "Hey, look. I'm away today, I'm flying at the time that the daily suggestions are written. I'm going to be one hour late. Sorry for that." In the end it didn't matter because we take pending orders, and they don't get filled at exactly the time that I write my post an...]]>351falsefullhttps://www.spreaker.com/episode/should-you-use-a-trailing-stop-as-a-forex-trader--12239732
Should you use a trailing stop as a Forex trader?
In this video:
00:26 Do Trailing-Stops Beneficial
01:20 Trailing- Stop Issues
04:03 Just A Quick Survey
Should you use a trailing stop as a Forex trader? Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, the Forex trading coach. Today is Friday, the 9th of October. As you can see, it's springtime here in New Zealand, and I thought it would be a great idea to get outside into the bit of fresh air, and away from the charts for this video and podcast.
Do Trailing-Stops Beneficial
I want to talk about trailing-stops. I've had an email here from Raphael, who said, "Hey, Andrew, can you make a video describing the benefits of trailing stops. I think it would make a great topic for your weekly videos." I've had a think about that, because it's a question that I get asked quite often. I've got to be really honest with you, I'm not a fan of trailing stops myself.
I'm not saying they don't work, I'm just saying that within my own trading and the style of trading that I have, I don't use trailing stops, and I'll explain why. As a technical trader, I like to look at what's happening on the charts, and I like to have a reason for everything that I do. I like to have a reason for placing the trade, a reason for my stop loss, a reason for my profit target, etc. That, as a technical trader, gives me confidence of why I'm taking a trade.
Trailing- Stop Issues
The problem that I have with a trailing stop is, how big a trailing stop do you use?
Do you use 10 pips, 20 pips, 100 pips?
What is it that you use?
Then you come back to the problem of your trading is then determined by how many pips you make, rather than the percentages, like I talk about in terms of the way that I trade with risk and money management.
I'm not a great fan of saying, "Hey, I want to move my stop, trail it by 20 pips," because it depends on what pair I'm trading, because different currency pairs move at different amounts. It depends on the time of day that I'd be trading. The Asian session is generally a lot slower than, let's say, the European sessions, so 20 pips doesn't really mean a great deal. If I was trading the British Pound/New Zealand Dollar (GBP/NZD), 20 pips is absolutely nothing. Yet, if I'm trading the Euro/British Pound (EUR/GBP), 20 pips is actually quite a lot, because it's a slower moving currency pair.
Again, you can see the issues with picking a trailing stop. Also, what determines 20 pips? Maybe it should be 30, maybe it should be 40? It's hard to know exactly how big a trailing stop to use.
Of course, if you use MT4 and that's probably the same with other trading platforms, is that a trailing stop will only work if you have your computer on. A hard stop loss, you can put that in and close your computer down and walk away from your charts, and your broker's server keeps that on there on their platform, whereas a trailing stop only works if your computer is actually on, and connected to the internet. If you have a virtual server, not a problem, but I'm guessing the majority of people who are trading, don't have a virtual server and they have their computer on. If your computer stops, you lose an internet connection, you close down your platform, then you lose that trailing stop figure. That becomes another issue.
For me, if I place stop loss, and my trade moves into some really good profit, let's say, and I want to protect that profit, then I'd much rather move my stop loss to a technical level. Let's say, I might be buying. I want to move my stop loss up to below the last swing low, or the candle low, or round number, or pivot point, whatever it is that I'm using as my strategy. Wherever I see a good support level, I might want to bring my stop loss up to below that last support ...]]>http://theforextradingcoach.com/?p=5890Thu, 08 Oct 2015 20:33:41 +0000Andrew MitchemPodcast: Should you use a trailing stop as a Forex trader? In this video: 00:26 Do Trailing-Stops Beneficial 01:20 Trailing- Stop Issues 04:03 Just A Quick Survey Should you use a trailing stop as a Forex trader? Let's talk about that and more...
Should you use a trailing stop as a Forex trader?
In this video:
00:26 Do Trailing-Stops Beneficial
01:20 Trailing- Stop Issues
04:03 Just A Quick Survey
Should you use a trailing stop as a Forex trader? Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, the Forex trading coach. Today is Friday, the 9th of October. As you can see, it's springtime here in New Zealand, and I thought it would be a great idea to get outside into the bit of fresh air, and away from the charts for this video and podcast.
Do Trailing-Stops Beneficial
I want to talk about trailing-stops. I've had an email here from Raphael, who said, "Hey, Andrew, can you make a video describing the benefits of trailing stops. I think it would make a great topic for your weekly videos." I've had a think about that, because it's a question that I get asked quite often. I've got to be really honest with you, I'm not a fan of trailing stops myself.
I'm not saying they don't work, I'm just saying that within my own trading and the style of trading that I have, I don't use trailing stops, and I'll explain why. As a technical trader, I like to look at what's happening on the charts, and I like to have a reason for everything that I do. I like to have a reason for placing the trade, a reason for my stop loss, a reason for my profit target, etc. That, as a technical trader, gives me confidence of why I'm taking a trade.
Trailing- Stop Issues
The problem that I have with a trailing stop is, how big a trailing stop do you use?
Do you use 10 pips, 20 pips, 100 pips?
What is it that you use?
Then you come back to the problem of your trading is then determined by how many pips you make, rather than the percentages, like I talk about in terms of the way that I trade with risk and money management.
I'm not a great fan of saying, "Hey, I want to move my stop, trail it by 20 pips," because it depends on what pair I'm trading, because different currency pairs move at different amounts. It depends on the time of day that I'd be trading. The Asian session is generally a lot slower than, let's say, the European sessions, so 20 pips doesn't really mean a great deal. If I was trading the British Pound/New Zealand Dollar (GBP/NZD), 20 pips is absolutely nothing. Yet, if I'm trading the Euro/British Pound (EUR/GBP), 20 pips is actually quite a lot, because it's a slower moving currency pair.
Again, you can see the issues with picking a trailing stop. Also, what determines 20 pips? Maybe it should be 30, maybe it should be 40? It's hard to know exactly how big a trailing stop to use.
Of course, if you use MT4 and that's probably the same with other trading platforms, is that a trailing stop will only work if you have your computer on. A hard stop loss, you can put that in and close your computer down and walk away from your charts, and your broker's server keeps that on there on their platform, whereas a trailing stop only works if your computer is actually on, and connected to the internet. If you have a virtual server, not a problem, but I'm guessing the majority of people who are trading, don't have a virtual server and they have their computer on. If your computer stops, you lose an internet connection, you close down your platform, then you lose that trailing stop figure. That becomes another issue.
For me, if I place stop loss, and my trade moves into some really good profit, let's say, and I want to protect that profit, then I'd much rather move my stop loss to a technical level. Let's say, I might be buying. I want to move my stop loss up to below the last swing low, or the candle low, or round number, or pivot point, whatever it is that I'm using as my strategy. Wherever I see a good support level, I might want to bring my stop loss up to below that last support ...]]>299falsefullhttps://www.spreaker.com/episode/making-6-3-on-the-beach-in-the-south-of-france--12239734
Making 6.3% on the beach in the South of France
In this video:
00:23 What an amazing achievement!
02:32 Let The Trading Work Around Your Lifestyle
04:10 Great Value For Money
How would you like to make 6.3% gain on your live account in one week while sitting on the beach in the south of France?
Well, that's what one of my client's has done just this last week. Let's share more details about that right now.
What An Amazing Achievement!
Hi Forex traders, it's Andrew Mitchem here. I'm the Forex Trading coach. Today is Friday, the 2nd of October. A few weeks ago I had an email from a client of mine, called Simon, who lives over in the U.K. He said, "Andrew, I'm off to the south of France for a week's holiday. I won't be on your webinar next week, but I'll be looking forward to watching the recording." I said, "Great, Simon. Have a nice time. My parents actually live in the south of France." I said, "Look, the love it down there. Have a great time. Enjoy yourself. I'll catch up with you when you get back."
Just last night I had a webinar, my evening time, early morning European time. Simon was on the webinar. He said to me, "Hey, Andrew. I've been to the south of France. I loved it. Had a great time on the beach for the week. I made 6.3% gain my account just in one week while enjoying the sun in the south of France." He's now back in the shitty U.K., as they're into Autumn time over there.
It just got me thinking, "Well, look at that. What an amazing achievement." I've got the information here. He emailed me as well, and told me about it, and said, "Look, my account grew 6.3% in the week. What a nice bonus. I'll see you on the webinar on Thursday."
Thank you very much, Simon. It just got me thinking about what can be achieved once you understand trading, put some effort in, and still to the rules. That's exactly what Simon's done there.
It also got me thinking about … I've mentioned so many times, you don't need to be spending all the time watching charts. Simon's been over there on the beach and, probably, just traded daily charts, maybe 12-hour charts, and, maybe, on the weekly charts, but hasn't spent all day and night watching charts. A number of people will say to me, "Hey, Andrew. You talk about trading on the close of a bar, whether it be a one-hour bar or a four-hour bar. Do I have to sit there and watch every one hour or every four hours?" No, you don't. Absolutely, you don't. Far from it. You need to trade when it suits you. Pick the times that suit you to trade. If you do like trading one-hour charts, then, yes, look at the end of the one-hour candle or one-hour bar, but only when it suits you. Don't worry about getting up in the middle of the night doing it. Don't stress about getting home from work early to do it.
Let The Trading Work Around Your Lifestyle
You have to made the trading work around your lifestyle. Otherwise, it takes over your life. You don't want that. People that sit there for hours, upon hour ,upon hour ,upon hour, just staring at the charts, moving up and down, every single pip, they do become glued to that screen. That's what the vast majority of people are trying to avoid. There's no real fun in watching charts move up and down all day. There really isn't. The fun is seeing technical setups of your technical trade, like I am, talking about trading. I love talking about trading. Also, the challenge of picking the trades and seeing them come through into profitable trades. That's the real enjoyment of trading. Of course, all the freedom of time that trading brings. Exactly like Simon said here, "Week in the south of France. 6.3% in a week." You cannot argue with that.
I've also had another client sending through comments. Craig over in Australia,]]>http://theforextradingcoach.com/?p=5870Sun, 04 Oct 2015 20:45:36 +0000Andrew MitchemPodcast: Making 6.3% on the beach in the South of France In this video: 00:23 What an amazing achievement! 02:32 Let The Trading Work Around Your Lifestyle 04:10 Great Value For Money How would you like to make 6.3% gain on your live account in...
Making 6.3% on the beach in the South of France
In this video:
00:23 What an amazing achievement!
02:32 Let The Trading Work Around Your Lifestyle
04:10 Great Value For Money
How would you like to make 6.3% gain on your live account in one week while sitting on the beach in the south of France?
Well, that's what one of my client's has done just this last week. Let's share more details about that right now.
What An Amazing Achievement!
Hi Forex traders, it's Andrew Mitchem here. I'm the Forex Trading coach. Today is Friday, the 2nd of October. A few weeks ago I had an email from a client of mine, called Simon, who lives over in the U.K. He said, "Andrew, I'm off to the south of France for a week's holiday. I won't be on your webinar next week, but I'll be looking forward to watching the recording." I said, "Great, Simon. Have a nice time. My parents actually live in the south of France." I said, "Look, the love it down there. Have a great time. Enjoy yourself. I'll catch up with you when you get back."
Just last night I had a webinar, my evening time, early morning European time. Simon was on the webinar. He said to me, "Hey, Andrew. I've been to the south of France. I loved it. Had a great time on the beach for the week. I made 6.3% gain my account just in one week while enjoying the sun in the south of France." He's now back in the shitty U.K., as they're into Autumn time over there.
It just got me thinking, "Well, look at that. What an amazing achievement." I've got the information here. He emailed me as well, and told me about it, and said, "Look, my account grew 6.3% in the week. What a nice bonus. I'll see you on the webinar on Thursday."
Thank you very much, Simon. It just got me thinking about what can be achieved once you understand trading, put some effort in, and still to the rules. That's exactly what Simon's done there.
It also got me thinking about … I've mentioned so many times, you don't need to be spending all the time watching charts. Simon's been over there on the beach and, probably, just traded daily charts, maybe 12-hour charts, and, maybe, on the weekly charts, but hasn't spent all day and night watching charts. A number of people will say to me, "Hey, Andrew. You talk about trading on the close of a bar, whether it be a one-hour bar or a four-hour bar. Do I have to sit there and watch every one hour or every four hours?" No, you don't. Absolutely, you don't. Far from it. You need to trade when it suits you. Pick the times that suit you to trade. If you do like trading one-hour charts, then, yes, look at the end of the one-hour candle or one-hour bar, but only when it suits you. Don't worry about getting up in the middle of the night doing it. Don't stress about getting home from work early to do it.
Let The Trading Work Around Your Lifestyle
You have to made the trading work around your lifestyle. Otherwise, it takes over your life. You don't want that. People that sit there for hours, upon hour ,upon hour ,upon hour, just staring at the charts, moving up and down, every single pip, they do become glued to that screen. That's what the vast majority of people are trying to avoid. There's no real fun in watching charts move up and down all day. There really isn't. The fun is seeing technical setups of your technical trade, like I am, talking about trading. I love talking about trading. Also, the challenge of picking the trades and seeing them come through into profitable trades. That's the real enjoyment of trading. Of course, all the freedom of time that trading brings. Exactly like Simon said here, "Week in the south of France. 6.3% in a week." You cannot argue with that.
I've also had another client sending through comments. Craig over in Australia,]]>452falsefullhttps://www.spreaker.com/episode/how-do-you-trust-your-forex-trading-plan--12239735
How do you trust your Forex trading plan?
In this video:
00:24 An Important Aspect of Trading
02:16 Let the Trade Do Its Thing
04:26 Why Clients Do So Well
You need to be able to learn to trust your trading plan and your trading strategy. Let us talk about that and more right now. Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach and today’s Friday, the 25th of September.
An Important Aspect of Trading
In this video and podcast, I want to talk about really, really important aspect of trading. It is all about once you develop the strategy or plan or system, having the ability to stick to it. If something that affects traders across the broad spectrum from absolute beginners, right through to more experienced traders and everybody in between and something that you really need to learn to overcome in order to take that step from being maybe a breakeven trader or a small profitable trader, it is becoming a really good trader.
Let’s talk about that and exactly what I mean. You see the problem that I see happening and what I experienced from feedback that I get from people, emails, phone calls, whatever it might be, is that so many people out there, I’m talking majority of these people are non-coaching clients of mine because hopefully once they have a coach and a strategy and a mentor, things change around for them. I am talking about people out there in general who don’t have anybody to follow or for guidance. The problem that I see is so many people they develop what they think is a really good strategy and a plan that works for them. That's prudent, that's great, but the problem is, they start fiddling with it.
They try to second guess the market and they break the plan and they break the rule so the system. Everybody is going to do that from time to time. No one is perfect. I’m not saying that but the problem is, is that people seem to think that they need sit there watching every pip move up and down because the market might move against them. In reality, the market doesn’t care about you. It doesn't care about me. It is going to do what it is going to do whether we sit watching those charts or not. What I am trying to say is, once you develop that strategy, try to stick it to it to the very best that you can without fiddling with it. Without intervening with it.
Let the Trade Do Its Thing
I personally find that the vast majority of my trades that I put on in my evening time, when I wake up in the morning, they’ve either hit their profit target or the surplus, for the vast majority. It is so great to see profitable trades when you weren’t there actually at the market intervening. Because if you have a strategy and you stick with it and you have a stop-loss in place for a reason, you have a profit target there for a reason, the majority of the time unless you see any obvious reason for me to edit that trade or to get out of that trade or partially close, again that is determined on your strategy. I’ll let you see that. Let the trade do its thing because you are not going to be able to influence it by sitting there stressing it by that trade, watching every pip of movement up and down and seeing that trade almost a full profit and then just missing and then going a bit closer and then just missing.
It is quite stressful to do that. When trades get into that situation and they are almost at full profit, I just walk away. Just walk away and leave them and then come back 5 or 10 minutes later or half an hour later, an hour later and 9 times out of 10, you will see that the trades hit full profit target in that time while you’ve been away, but you weren’t sitting there stressing watching that last few pips, and so to get your profit target. It is really important to understand that. That’s once you have a strategy. The other side that I see so many people struggle with is that they have a st...]]>http://theforextradingcoach.com/?p=5853Sun, 27 Sep 2015 16:45:59 +0000Andrew MitchemPodcast: How do you trust your Forex trading plan? In this video: 00:24 An Important Aspect of Trading 02:16 Let the Trade Do Its Thing 04:26 Why Clients Do So Well You need to be able to learn to trust your trading plan and your trading...
How do you trust your Forex trading plan?
In this video:
00:24 An Important Aspect of Trading
02:16 Let the Trade Do Its Thing
04:26 Why Clients Do So Well
You need to be able to learn to trust your trading plan and your trading strategy. Let us talk about that and more right now. Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach and today’s Friday, the 25th of September.
An Important Aspect of Trading
In this video and podcast, I want to talk about really, really important aspect of trading. It is all about once you develop the strategy or plan or system, having the ability to stick to it. If something that affects traders across the broad spectrum from absolute beginners, right through to more experienced traders and everybody in between and something that you really need to learn to overcome in order to take that step from being maybe a breakeven trader or a small profitable trader, it is becoming a really good trader.
Let’s talk about that and exactly what I mean. You see the problem that I see happening and what I experienced from feedback that I get from people, emails, phone calls, whatever it might be, is that so many people out there, I’m talking majority of these people are non-coaching clients of mine because hopefully once they have a coach and a strategy and a mentor, things change around for them. I am talking about people out there in general who don’t have anybody to follow or for guidance. The problem that I see is so many people they develop what they think is a really good strategy and a plan that works for them. That's prudent, that's great, but the problem is, they start fiddling with it.
They try to second guess the market and they break the plan and they break the rule so the system. Everybody is going to do that from time to time. No one is perfect. I’m not saying that but the problem is, is that people seem to think that they need sit there watching every pip move up and down because the market might move against them. In reality, the market doesn’t care about you. It doesn't care about me. It is going to do what it is going to do whether we sit watching those charts or not. What I am trying to say is, once you develop that strategy, try to stick it to it to the very best that you can without fiddling with it. Without intervening with it.
Let the Trade Do Its Thing
I personally find that the vast majority of my trades that I put on in my evening time, when I wake up in the morning, they’ve either hit their profit target or the surplus, for the vast majority. It is so great to see profitable trades when you weren’t there actually at the market intervening. Because if you have a strategy and you stick with it and you have a stop-loss in place for a reason, you have a profit target there for a reason, the majority of the time unless you see any obvious reason for me to edit that trade or to get out of that trade or partially close, again that is determined on your strategy. I’ll let you see that. Let the trade do its thing because you are not going to be able to influence it by sitting there stressing it by that trade, watching every pip of movement up and down and seeing that trade almost a full profit and then just missing and then going a bit closer and then just missing.
It is quite stressful to do that. When trades get into that situation and they are almost at full profit, I just walk away. Just walk away and leave them and then come back 5 or 10 minutes later or half an hour later, an hour later and 9 times out of 10, you will see that the trades hit full profit target in that time while you’ve been away, but you weren’t sitting there stressing watching that last few pips, and so to get your profit target. It is really important to understand that. That’s once you have a strategy. The other side that I see so many people struggle with is that they have a st...]]>409falsefullhttps://www.spreaker.com/episode/how-big-a-stop-loss-should-you-use-when-you-re-trading-forex--12239736
How big a stop loss should you use when you're trading Forex?
In this video:
00:41 Trading Stop Loss
04:06 Does Stop Loss Matter?
How big a stop loss should you use when you're trading Forex? Let's talk about that and a lot more right now.
Hi, Forex traders. Andrew Mitchem here, the Forex Trading Coach, and today is Friday, the 18th of September. I've had a question from Yoshino from over in Japan and Yoshino has said to me, "Hey, Andrew can you give me some advice? I'm looking to trade with a 10 pip stop loss on a 20 pip profit target but I'm not making money and can you tell me what the ideal stop loss on that is in pips?"
Trading Stop Loss
I've gone back to Yoshino and said, "First of all, what you should do is jump onto one of my webinars because in that you'll see that personally I don't even worry about how many pips I'm risking or how many pips I'm making for that matter." Because to me the way I trade with money management is just not relevant. It's something that unfortunately so many people get wrong in their trading and it's because everywhere you go out there on the internet land, it's just everybody's telling you, "This is how many pips this system makes or this robot makes or this indicator makes, et cetera."
They're all saying, "You want 15-minute time frame chart, use a 20 pip stop loss." It really is completely wrong because what you need to do is put your stop loss at a level that protects that particular trade. Now, that particular trade you're going to take for whatever reason, according to your strategy and your criteria for entering a new position, but your stop loss needs to protect the trade. It needs to give the position room to move, room to breathe. You don't want to put your stop loss so close that it just gets stopped at all the time because spread has to come into account and different currency pairs have different spreads and spreads alter slightly depending on the time of the day and the volatility and the activity in the market.
Different currency pairs also have different movements, so if for instance you had a 20 pip stop loss on the Euro/Pound (EUR/GBP), that could be seen as a relatively big stop loss as opposed to a 20 pip stop loss on something like the British Pound/New Zealand Dollar (GBP/NZD), where that just moves hundreds of pips per day. It's all relative to what pair you're trading, what time frame chart you're trading, also. When I say you need to have a safe level to protect the trade, what I mean by that is that you might want to put your stop loss, let's say you're buying, you might want to put your stop loss below recent swing low. You might want to put it below a pivot point. You might want to have it protected by a round number.
Whatever it is that you look for, rather than just saying 20 pips or 50 pips, your blanket standard, look at altering the stop loss to actually protect the trade, but also, the actual trade that you take should determine your stop loss and also, that then leads to having a high reward-to-risk out of the trade. Now that leads in really nicely to an amazing trade that I got shown last night on a webinar that I held for my clients. It was from a client in Australia who made a 7.3 to 1 reward-to-risk on a trade on silver, 7.3. Quick numbers that tells me, what's that? That's about a 3.6 return on that account, 3.6% return. If you're risking half of 1%, those 3.6%, it's a huge return for one trade, 7.3 to 1, so for every one dollar he risked, he made $7.30 return. You can just see it's just an incredible trade.
Does Stop Loss Matter?
But the stop loss doesn't matter. The stop loss was placed for a protective reason. I think it was actually below a round number which happened to be a swing low at the same time. But it just goes to show that if you have your stop loss in there for a reason,]]>http://theforextradingcoach.com/?p=5834Thu, 17 Sep 2015 20:31:36 +0000Andrew MitchemPodcast: How big a stop loss should you use when you're trading Forex? In this video: 00:41 Trading Stop Loss 04:06 Does Stop Loss Matter? How big a stop loss should you use when you're trading Forex? Let's talk about that and a lot more right...
How big a stop loss should you use when you're trading Forex?
In this video:
00:41 Trading Stop Loss
04:06 Does Stop Loss Matter?
How big a stop loss should you use when you're trading Forex? Let's talk about that and a lot more right now.
Hi, Forex traders. Andrew Mitchem here, the Forex Trading Coach, and today is Friday, the 18th of September. I've had a question from Yoshino from over in Japan and Yoshino has said to me, "Hey, Andrew can you give me some advice? I'm looking to trade with a 10 pip stop loss on a 20 pip profit target but I'm not making money and can you tell me what the ideal stop loss on that is in pips?"
Trading Stop Loss
I've gone back to Yoshino and said, "First of all, what you should do is jump onto one of my webinars because in that you'll see that personally I don't even worry about how many pips I'm risking or how many pips I'm making for that matter." Because to me the way I trade with money management is just not relevant. It's something that unfortunately so many people get wrong in their trading and it's because everywhere you go out there on the internet land, it's just everybody's telling you, "This is how many pips this system makes or this robot makes or this indicator makes, et cetera."
They're all saying, "You want 15-minute time frame chart, use a 20 pip stop loss." It really is completely wrong because what you need to do is put your stop loss at a level that protects that particular trade. Now, that particular trade you're going to take for whatever reason, according to your strategy and your criteria for entering a new position, but your stop loss needs to protect the trade. It needs to give the position room to move, room to breathe. You don't want to put your stop loss so close that it just gets stopped at all the time because spread has to come into account and different currency pairs have different spreads and spreads alter slightly depending on the time of the day and the volatility and the activity in the market.
Different currency pairs also have different movements, so if for instance you had a 20 pip stop loss on the Euro/Pound (EUR/GBP), that could be seen as a relatively big stop loss as opposed to a 20 pip stop loss on something like the British Pound/New Zealand Dollar (GBP/NZD), where that just moves hundreds of pips per day. It's all relative to what pair you're trading, what time frame chart you're trading, also. When I say you need to have a safe level to protect the trade, what I mean by that is that you might want to put your stop loss, let's say you're buying, you might want to put your stop loss below recent swing low. You might want to put it below a pivot point. You might want to have it protected by a round number.
Whatever it is that you look for, rather than just saying 20 pips or 50 pips, your blanket standard, look at altering the stop loss to actually protect the trade, but also, the actual trade that you take should determine your stop loss and also, that then leads to having a high reward-to-risk out of the trade. Now that leads in really nicely to an amazing trade that I got shown last night on a webinar that I held for my clients. It was from a client in Australia who made a 7.3 to 1 reward-to-risk on a trade on silver, 7.3. Quick numbers that tells me, what's that? That's about a 3.6 return on that account, 3.6% return. If you're risking half of 1%, those 3.6%, it's a huge return for one trade, 7.3 to 1, so for every one dollar he risked, he made $7.30 return. You can just see it's just an incredible trade.
Does Stop Loss Matter?
But the stop loss doesn't matter. The stop loss was placed for a protective reason. I think it was actually below a round number which happened to be a swing low at the same time. But it just goes to show that if you have your stop loss in there for a reason,]]>368falsefullhttps://www.spreaker.com/episode/which-time-frame-charts-should-i-look-at--12239740
Which time frame charts should I look at?
In this video:
00:23 Different Timeframe Chart Issues
01:28 How To Make Technical Trading Easier
03:14 What Works For You
Are you confused about what timeframe Forex charts to be looking at?
If that sounds like you, listen up I've got some great news for you.
Hi traders, Andrew Mitchem here, the Forex trading coach and today is Friday the 11th of September.
Different Timeframe Chart Issues
I wanted to talk about that issue about different timeframe charts because hardly a day goes past without I get an email from somebody, somewhere in the world saying, “Andrew, I'm just getting really confused looking at all the different charts on my platform. Not only do I need to figure out what currency pairs to trade, I don't need to try and figure out what timeframe charts to trade and they're all telling me different messages, how do I get around it?”
Well, really you need to figure out what type of trader you are and experiment to start with.
You know, figure out whether you like the shorter timeframe charts or the longer timeframe charts or a combination of both and really it's about finding what works for you. The great thing about the way that I trade and the way that my clients trade is that because we use price action and technical analysis, the actual strategy and the understanding of the market can work on any timeframe. I've got traders that trade five minute charts, some even trade one minute charts and 15, 30, right up to people that trade daily charts, weekly charts, monthly charts. It's finding that combination that works for you.
How To Make Technical Trading Easier
One thing I would say is that to make technical trading easier, I would strongly suggest that what you do is only look for a new chart setup, a new potential trade only on the completion of a candle. If you're trading a 15 minute chart, the only time you're looking for potential new trade setup is on the close of a 15 minute candle. If it's a one hour chart, it's only on the close of that one hour candle. The great thing about having that methodology behind your trading is it means that you're not scared to leave your charts. You're not staring every single price movement and every single pep up and down, worried about when to enter.
That is one of the benefits of using candle patterns and candle analysis over multiple indicators or crossing over, which could happen at any time. That's why I strongly suggest you do that. You look at, if you're say trading a one hour chart, you only look at the close of every one hour. It means that you know that right now as I'm recording this, it's five past two in the afternoon here in New Zealand. I've just looked at the one hour charts, that's why I'm recording this now after they've gone. I know I've got 55 minutes until 3:00 o’clock my local time.
At that time, I can look at the one hour charts and the six hour charts, because the six hour charts close at 9:00, 3:00, 9:00 and 3:00 my local time. That just makes life so much easier. What I also suggest you do is, when you see a chart pattern like a good technical setup on the timeframe chart, let's say a 15 minute chart, trade off that 15 minute chart. Don't worry so much about what's happening on other timeframe charts, otherwise you'll get yourself completely confused. If the trade setup looks really good on that 15 minute chart, take it and trade and manage that trade off of 15 minute charts.
What Works For You
Really you need to discover what works for you. If you're a scalper and you like the shorter timeframe charts of say five, 15 minutes, even up to an hour, so if you're a scalper, someone who likes to trade the one, five and even 15 minute timeframe charts, you have to expect to be spending more time watching the charts because you need to be there when the candle...]]>http://theforextradingcoach.com/?p=5822Fri, 11 Sep 2015 20:44:29 +0000Andrew MitchemPodcast: Which time frame charts should I look at? In this video: 00:23 Different Timeframe Chart Issues 01:28 How To Make Technical Trading Easier 03:14 What Works For You Are you confused about what timeframe Forex charts to be looking at? If...
Which time frame charts should I look at?
In this video:
00:23 Different Timeframe Chart Issues
01:28 How To Make Technical Trading Easier
03:14 What Works For You
Are you confused about what timeframe Forex charts to be looking at?
If that sounds like you, listen up I've got some great news for you.
Hi traders, Andrew Mitchem here, the Forex trading coach and today is Friday the 11th of September.
Different Timeframe Chart Issues
I wanted to talk about that issue about different timeframe charts because hardly a day goes past without I get an email from somebody, somewhere in the world saying, “Andrew, I'm just getting really confused looking at all the different charts on my platform. Not only do I need to figure out what currency pairs to trade, I don't need to try and figure out what timeframe charts to trade and they're all telling me different messages, how do I get around it?”
Well, really you need to figure out what type of trader you are and experiment to start with.
You know, figure out whether you like the shorter timeframe charts or the longer timeframe charts or a combination of both and really it's about finding what works for you. The great thing about the way that I trade and the way that my clients trade is that because we use price action and technical analysis, the actual strategy and the understanding of the market can work on any timeframe. I've got traders that trade five minute charts, some even trade one minute charts and 15, 30, right up to people that trade daily charts, weekly charts, monthly charts. It's finding that combination that works for you.
How To Make Technical Trading Easier
One thing I would say is that to make technical trading easier, I would strongly suggest that what you do is only look for a new chart setup, a new potential trade only on the completion of a candle. If you're trading a 15 minute chart, the only time you're looking for potential new trade setup is on the close of a 15 minute candle. If it's a one hour chart, it's only on the close of that one hour candle. The great thing about having that methodology behind your trading is it means that you're not scared to leave your charts. You're not staring every single price movement and every single pep up and down, worried about when to enter.
That is one of the benefits of using candle patterns and candle analysis over multiple indicators or crossing over, which could happen at any time. That's why I strongly suggest you do that. You look at, if you're say trading a one hour chart, you only look at the close of every one hour. It means that you know that right now as I'm recording this, it's five past two in the afternoon here in New Zealand. I've just looked at the one hour charts, that's why I'm recording this now after they've gone. I know I've got 55 minutes until 3:00 o’clock my local time.
At that time, I can look at the one hour charts and the six hour charts, because the six hour charts close at 9:00, 3:00, 9:00 and 3:00 my local time. That just makes life so much easier. What I also suggest you do is, when you see a chart pattern like a good technical setup on the timeframe chart, let's say a 15 minute chart, trade off that 15 minute chart. Don't worry so much about what's happening on other timeframe charts, otherwise you'll get yourself completely confused. If the trade setup looks really good on that 15 minute chart, take it and trade and manage that trade off of 15 minute charts.
What Works For You
Really you need to discover what works for you. If you're a scalper and you like the shorter timeframe charts of say five, 15 minutes, even up to an hour, so if you're a scalper, someone who likes to trade the one, five and even 15 minute timeframe charts, you have to expect to be spending more time watching the charts because you need to be there when the candle...]]>306falsefullhttps://www.spreaker.com/episode/do-you-need-to-take-a-bigger-risk-to-trade-a-higher-time-frame-chart--12239739
Do you need to take a bigger risk to trade a higher time frame chart?
In this video:
01:33 Understanding Position Size
03:09 What’s Your Style Of Trading
04:04 Free Lot Size Calculator
Some people think that if they trade a higher time frame chart it means they need to take more risk because their stop loss has to be bigger. It's just not the case, but I'm going to explain to you why right now.
Hi Forex traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach, and today is Friday the 4th of September. I've had an email here from Rajesh, and it's quite a common email and quite a common misconception out there in the trading world, mostly from new traders, but also I do get the same comment from some experienced traders as well.
People seem to think that they can't trade bigger time frame charts because they think they need to take more risk on a trade, and the reason they think they need to take more risk is because their stop loss needs to be bigger in terms of the amount of pips. The email from Rajesh says, "Andrew, if one uses higher time frames, will this not affect the stop loss placement, and therefore be at a higher cost?" It's just not true at all, and as I've mentioned, many people think that it is true, and that's a misconception. Let's explain why.
Understanding Position Size
If you have a 10 pip stop loss people think that's a very small risk, and they think at the same time that if you have a 100 pip stop loss it's a very big risk in terms of monetary amount. People think that with a small account they can't trade a longer time frame, let's say a daily chart that has a 100 pip stop loss, because the stop loss is just too big and I can't afford that risk, and it's wrong. All you need to do is have a better understanding of position sizing, and I've got a great tool on my website that's available free of charge. It's called a lot size calculator. Get your copy, because it will really help you understand position sizing.
Have a think of it this way: If you were to risk 10 pips on a trade and you place one standard lot on that trade, that's no different than risking 0.1 lots with 100 pips stop loss. It's exactly the same; if you lose, you lose exactly the same. It doesn't matter whether it's 10 pips or 100 pips, it's the position size that you change that makes the stop loss monetary value the same.
Think of that same example. Let's say on that 10 pip stop loss trade you have a profit target of, say, 20 pips. It's no different than a 100 pip stop loss trade having a target of 200 pips. The money that you make is exactly the same if you have your position size correct. It's still a 2 to 1 reward to risk trade. You're risking 10 pips to make a potential 20, and on the other scenario, on the longer time frame chart, you're risking 100 pips to make a potential 200, but because of the way you've positioned your placement you've got 10 times smaller risk on the 100 pip stop loss trade. The actual amount that you gain if the trade is profitable, or you lose if the trade is a losing trade, is exactly the same regardless of which scenario you go.
What’s Your Style Of Trading
Of course, that depends on your style of trading, whether you like the scalping, shorter time frames, or whether you like the longer time frame trades. You could quite easily argue that if you take lots of trades with, say, 10 pip stop losses, you actually have probably a higher chance of getting stopped out because it only takes a small movement within the price to wipe your 10 pips out. By the time you allow a couple of pips for spread, and then maybe an 8 pip movement, your trade's stopped out so much more easily than on a longer time frame chart where you have a 100 pip stop loss. Of course you could argue that the 20 pips in the profit is likely to be hit a lot easier on the short time frame...]]>http://theforextradingcoach.com/?p=5796Thu, 03 Sep 2015 20:39:35 +0000Andrew MitchemPodcast: Do you need to take a bigger risk to trade a higher time frame chart? In this video: 01:33 Understanding Position Size 03:09 What’s Your Style Of Trading 04:04 Free Lot Size Calculator Some people think that if they trade a higher time...
Do you need to take a bigger risk to trade a higher time frame chart?
In this video:
01:33 Understanding Position Size
03:09 What’s Your Style Of Trading
04:04 Free Lot Size Calculator
Some people think that if they trade a higher time frame chart it means they need to take more risk because their stop loss has to be bigger. It's just not the case, but I'm going to explain to you why right now.
Hi Forex traders, it's Andrew Mitchem here, the owner of The Forex Trading Coach, and today is Friday the 4th of September. I've had an email here from Rajesh, and it's quite a common email and quite a common misconception out there in the trading world, mostly from new traders, but also I do get the same comment from some experienced traders as well.
People seem to think that they can't trade bigger time frame charts because they think they need to take more risk on a trade, and the reason they think they need to take more risk is because their stop loss needs to be bigger in terms of the amount of pips. The email from Rajesh says, "Andrew, if one uses higher time frames, will this not affect the stop loss placement, and therefore be at a higher cost?" It's just not true at all, and as I've mentioned, many people think that it is true, and that's a misconception. Let's explain why.
Understanding Position Size
If you have a 10 pip stop loss people think that's a very small risk, and they think at the same time that if you have a 100 pip stop loss it's a very big risk in terms of monetary amount. People think that with a small account they can't trade a longer time frame, let's say a daily chart that has a 100 pip stop loss, because the stop loss is just too big and I can't afford that risk, and it's wrong. All you need to do is have a better understanding of position sizing, and I've got a great tool on my website that's available free of charge. It's called a lot size calculator. Get your copy, because it will really help you understand position sizing.
Have a think of it this way: If you were to risk 10 pips on a trade and you place one standard lot on that trade, that's no different than risking 0.1 lots with 100 pips stop loss. It's exactly the same; if you lose, you lose exactly the same. It doesn't matter whether it's 10 pips or 100 pips, it's the position size that you change that makes the stop loss monetary value the same.
Think of that same example. Let's say on that 10 pip stop loss trade you have a profit target of, say, 20 pips. It's no different than a 100 pip stop loss trade having a target of 200 pips. The money that you make is exactly the same if you have your position size correct. It's still a 2 to 1 reward to risk trade. You're risking 10 pips to make a potential 20, and on the other scenario, on the longer time frame chart, you're risking 100 pips to make a potential 200, but because of the way you've positioned your placement you've got 10 times smaller risk on the 100 pip stop loss trade. The actual amount that you gain if the trade is profitable, or you lose if the trade is a losing trade, is exactly the same regardless of which scenario you go.
What’s Your Style Of Trading
Of course, that depends on your style of trading, whether you like the scalping, shorter time frames, or whether you like the longer time frame trades. You could quite easily argue that if you take lots of trades with, say, 10 pip stop losses, you actually have probably a higher chance of getting stopped out because it only takes a small movement within the price to wipe your 10 pips out. By the time you allow a couple of pips for spread, and then maybe an 8 pip movement, your trade's stopped out so much more easily than on a longer time frame chart where you have a 100 pip stop loss. Of course you could argue that the 20 pips in the profit is likely to be hit a lot easier on the short time frame...]]>300falsefullhttps://www.spreaker.com/episode/how-to-best-use-limit-orders-and-set-up-a-live-account-in-forex-trading--12239742
How To Best Use Limit Orders And Set Up a Live Account in Forex Trading
In this video:
00:57 What I love about the limit order?
02:29 When Not To Take A Limit Order
04:42 What to do between demo and live account?
I'm going to share with you some information about how to best use limit orders and also how to choose a broker and transition from a demo account through to a live account, so let's get into it.
Hi Forex traders, it's Andrew Mitchem here the Forex trading coach and today is Friday the 28th of August. I've got two questions that have been sent through that I'd like to discuss on this video and podcast. The first one is here from Raphael and Raphael says, “Andrew, I've been watching you on YouTube, love your videos, love your work, but I'd like to ask you a question about the best use of limit orders, how to use them.”
I actually use limit orders quite a lot within my trading and it's generally for the longer timeframe chart, so I use them personally for anything from four hours and above. That can be a six hour charts, 12 hours, daily, weekly, even monthly charts.
What I love about the limit order?
What I love about the limit order, is it actually fills you at a better price than the current market order. Now if you are taking buy trades for example, rather than entering up here at the market order, saying, I'm placing an order below the current price to buy. If the market retraces back to that level, it fills me for a buy trade and then I'm anticipating it's going to move upwards. Exactly the same, but in reverse for a sell trade. Now the benefits of many, of course you get filled at a better price and if you know what you're doing and you have your entry at a certain level, then the majority of the time you get the price filled.
What it also does is, it generally increases the return that you make from your traders and it's in the higher reward to risk, because it means that generally you have maybe a smaller stop loss than if you'd placed your trade at the market and therefore you have potentially, because you're getting in at a better price, and potentially a far greater gain as a percentage of your stop loss, so a higher return from your trade. It also means, another great thing is, you don't have to be there right at the time, at the market, at your computer, to place the trade because, let's say you're trading let's say a four hour chart with a limit order as a retracement entry, you don't have to be there at the close of the four hour chart.
You could come a little bit later and say, well it's still not moved back to my entry order but I'm now placing that limit order at this lower level looking for, anticipating the market is going to pull back. I actually love taking limit orders.
When not to take a limit order?
The only time I wouldn't really take a limit order is anything on a shorter timeframe chart of let's say one hour or shorter, because really, let's say if you're trading a 15 minute chart, you're pretty much most of the time want to be in at the market straight away as a market order because you're really trying to ride the momentum in the market at that time to best make use of a 15 minute or even a five minute chart. Use limit orders for the longer timeframe charts.
The second question that I've got here is from Patrick and Patrick says, "Hey Andrew have you any tips or recommendations in setting up a live account. I've been practicing for the last two to three months on a demo, I'm now ready to go live but I've just heard a few stories about brokers. How can you help me?"
Patrick, first of all you've been trading two to three months on a demo before you go live. That's really good because use a demo account to iron out all those mistakes, silly mistakes that everybody makes when they start trading. Your position size is way too big,]]>http://theforextradingcoach.com/?p=5779Sun, 30 Aug 2015 21:20:25 +0000Andrew MitchemPodcast: How To Best Use Limit Orders And Set Up a Live Account in Forex Trading In this video: 00:57 What I love about the limit order? 02:29 When Not To Take A Limit Order 04:42 What to do between demo and live account? I'm going to share with...
How To Best Use Limit Orders And Set Up a Live Account in Forex Trading
In this video:
00:57 What I love about the limit order?
02:29 When Not To Take A Limit Order
04:42 What to do between demo and live account?
I'm going to share with you some information about how to best use limit orders and also how to choose a broker and transition from a demo account through to a live account, so let's get into it.
Hi Forex traders, it's Andrew Mitchem here the Forex trading coach and today is Friday the 28th of August. I've got two questions that have been sent through that I'd like to discuss on this video and podcast. The first one is here from Raphael and Raphael says, “Andrew, I've been watching you on YouTube, love your videos, love your work, but I'd like to ask you a question about the best use of limit orders, how to use them.”
I actually use limit orders quite a lot within my trading and it's generally for the longer timeframe chart, so I use them personally for anything from four hours and above. That can be a six hour charts, 12 hours, daily, weekly, even monthly charts.
What I love about the limit order?
What I love about the limit order, is it actually fills you at a better price than the current market order. Now if you are taking buy trades for example, rather than entering up here at the market order, saying, I'm placing an order below the current price to buy. If the market retraces back to that level, it fills me for a buy trade and then I'm anticipating it's going to move upwards. Exactly the same, but in reverse for a sell trade. Now the benefits of many, of course you get filled at a better price and if you know what you're doing and you have your entry at a certain level, then the majority of the time you get the price filled.
What it also does is, it generally increases the return that you make from your traders and it's in the higher reward to risk, because it means that generally you have maybe a smaller stop loss than if you'd placed your trade at the market and therefore you have potentially, because you're getting in at a better price, and potentially a far greater gain as a percentage of your stop loss, so a higher return from your trade. It also means, another great thing is, you don't have to be there right at the time, at the market, at your computer, to place the trade because, let's say you're trading let's say a four hour chart with a limit order as a retracement entry, you don't have to be there at the close of the four hour chart.
You could come a little bit later and say, well it's still not moved back to my entry order but I'm now placing that limit order at this lower level looking for, anticipating the market is going to pull back. I actually love taking limit orders.
When not to take a limit order?
The only time I wouldn't really take a limit order is anything on a shorter timeframe chart of let's say one hour or shorter, because really, let's say if you're trading a 15 minute chart, you're pretty much most of the time want to be in at the market straight away as a market order because you're really trying to ride the momentum in the market at that time to best make use of a 15 minute or even a five minute chart. Use limit orders for the longer timeframe charts.
The second question that I've got here is from Patrick and Patrick says, "Hey Andrew have you any tips or recommendations in setting up a live account. I've been practicing for the last two to three months on a demo, I'm now ready to go live but I've just heard a few stories about brokers. How can you help me?"
Patrick, first of all you've been trading two to three months on a demo before you go live. That's really good because use a demo account to iron out all those mistakes, silly mistakes that everybody makes when they start trading. Your position size is way too big,]]>373falsefullhttps://www.spreaker.com/episode/forex-trading-should-never-be-a-race--12239741
Forex Trading Should Never Be A Race
In this video:
01:40 A Common Issue With Forex Trading
04:08 Take IT Slow!
04:58 What I Highly Recommend
I want to explain to you why becoming a good Forex trader should never ever be a race. So let’s get into that and more right now.
Hi Forex traders, it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 21st of August. As I mentioned, in today’s video and podcast I want to help you by explaining to you why becoming a good and profitable Forex trader for you should never ever be a race like it should never be rushed.
I also want to give you details about a client of mine who has started really slowly and now developed into a really good trader and he has made a 27.8% in just the last 11 weeks. So let’s get into it.
So let’s think of cheese or whisky or a good port whatever it is that you like that way that starts slowly and develops and matures into something outstanding and your trading should be no difference. So whether you’re thinking of cheeses or whiskies or port or being a Forex trader, think of it as something that starts slow and it matures overtime and gets better and better with age and with time.
That's really the best thing that I can explain to you of how you should think of your trading. I know that from experience and I know that, because that's the path that most of my very best clients take. They start slowly and they work into something outstanding, but it does take time. You see, I get lot of people come to me. They say, "Hey, Andrew how long is it going to take me to take your course and to become a really good trader and make lots of money and give up my job that I hate.”
A Common Issue With Forex Trading
They always thinks and that's the issue. Too many people think that Forex trading is suddenly going to change all their financial problems around. They think they're going to suddenly be able to give up their job and suddenly become a Forex trader two months later. You can give up your job. You can make outstanding returns in trading but don't expect it to happen right straight away. You have to expect to give it sometime.
You can't just jump in to a new business or a new industry and just like a click of a fingers and a few weeks later, you suddenly going to have everything mastered. You just cannot expect that to happen. I'd like to continue with that theme. I'll mention an email here that's come through from John. Now, I've just looked up on my records and John joined me on the 16th of December, 2014. That was about, eight months ago. He said here, "Hey, Andrew just thought I'd drop your line and give you an update on my trading." He said, "I've started with your course, but I can't drop when I started. I finally got a handle on your strategy. It's been eleven weeks now that I've had great success gaining 27.8% over this period. I follow your daily recommendations and I analyze them and they helped me to trade the one hour charts, the four hour charts and the twelve hour charts. Mainly the twelve hour charts were great success. I also find that I'm now placing less trades per week as well."
You can't argue with profitable traders. 27.8% over the last 11 weeks, so roughly that's almost three months, yet for the first five months of that John was going sideways or losing money or maybe making a bit but then losing again. He stuck at it for five months through that transitional period of sort of working out how to adapt a strategy, how to look at the charts, analyze things, come back to me with some help, watching webinars, etc., going through a course, studying. Sure, some people pick it up way, way quicker but I'd much rather have an email like this from a client who's now made 27.8% over the last 11 weeks.
It's not been easy over the last 11 weeks either. You think of June,]]>http://theforextradingcoach.com/?p=5762Mon, 24 Aug 2015 03:34:19 +0000Andrew MitchemPodcast: Forex Trading Should Never Be A Race In this video: 01:40 A Common Issue With Forex Trading 04:08 Take IT Slow! 04:58 What I Highly Recommend I want to explain to you why becoming a good Forex trader should never ever be a race. So let’s...
Forex Trading Should Never Be A Race
In this video:
01:40 A Common Issue With Forex Trading
04:08 Take IT Slow!
04:58 What I Highly Recommend
I want to explain to you why becoming a good Forex trader should never ever be a race. So let’s get into that and more right now.
Hi Forex traders, it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 21st of August. As I mentioned, in today’s video and podcast I want to help you by explaining to you why becoming a good and profitable Forex trader for you should never ever be a race like it should never be rushed.
I also want to give you details about a client of mine who has started really slowly and now developed into a really good trader and he has made a 27.8% in just the last 11 weeks. So let’s get into it.
So let’s think of cheese or whisky or a good port whatever it is that you like that way that starts slowly and develops and matures into something outstanding and your trading should be no difference. So whether you’re thinking of cheeses or whiskies or port or being a Forex trader, think of it as something that starts slow and it matures overtime and gets better and better with age and with time.
That's really the best thing that I can explain to you of how you should think of your trading. I know that from experience and I know that, because that's the path that most of my very best clients take. They start slowly and they work into something outstanding, but it does take time. You see, I get lot of people come to me. They say, "Hey, Andrew how long is it going to take me to take your course and to become a really good trader and make lots of money and give up my job that I hate.”
A Common Issue With Forex Trading
They always thinks and that's the issue. Too many people think that Forex trading is suddenly going to change all their financial problems around. They think they're going to suddenly be able to give up their job and suddenly become a Forex trader two months later. You can give up your job. You can make outstanding returns in trading but don't expect it to happen right straight away. You have to expect to give it sometime.
You can't just jump in to a new business or a new industry and just like a click of a fingers and a few weeks later, you suddenly going to have everything mastered. You just cannot expect that to happen. I'd like to continue with that theme. I'll mention an email here that's come through from John. Now, I've just looked up on my records and John joined me on the 16th of December, 2014. That was about, eight months ago. He said here, "Hey, Andrew just thought I'd drop your line and give you an update on my trading." He said, "I've started with your course, but I can't drop when I started. I finally got a handle on your strategy. It's been eleven weeks now that I've had great success gaining 27.8% over this period. I follow your daily recommendations and I analyze them and they helped me to trade the one hour charts, the four hour charts and the twelve hour charts. Mainly the twelve hour charts were great success. I also find that I'm now placing less trades per week as well."
You can't argue with profitable traders. 27.8% over the last 11 weeks, so roughly that's almost three months, yet for the first five months of that John was going sideways or losing money or maybe making a bit but then losing again. He stuck at it for five months through that transitional period of sort of working out how to adapt a strategy, how to look at the charts, analyze things, come back to me with some help, watching webinars, etc., going through a course, studying. Sure, some people pick it up way, way quicker but I'd much rather have an email like this from a client who's now made 27.8% over the last 11 weeks.
It's not been easy over the last 11 weeks either. You think of June,]]>342falsefullhttps://www.spreaker.com/episode/do-win-rates-really-matter--12239743
Do win rates really matter? 
In this video:
00:31   Two Sides To The Story
02:31   Going Back To The Basics
04:10   Two Webinars for New and Experienced Traders
Does your win rate really matter? Let's talk about that and more right now.
 
Hi there, Forex traders. It's Andrew Mitchem here, the Forex trading coach. Today is Friday, the 14th of August. In today's video and podcast, I want to talk about a subject that eventually had 2 emails about just this week. It's about your win rate. How many trades out of 10, let's say, for example, are you profitable on, and does that really matter?
 
Two Sides To The Story
 
Like most things, there's 2 sides to the story here, and I'd like to read out just some extracts from two of those emails. The first one is from Hadish, and he says, "Look, Andrew, I'm looking for some form of trading system or trading signals that are going to make me money on 7 or 8 out of 10 trades." Just park that for one moment, and then I'll read you an extract and the second email was from Robert, and Robert said to me, "Andrew, I'm able to make money from my trades, but then I'm finding that they're turning against me. The problem is that my losing trades end up staying in the market for too long and being big losing trades, and then I end up cutting short my winning and my profitable trades.”
 
Robert is saying he's ending up with around a 7 or 8 out of 10 winning trades, but the problem is, like he says here, is that his losing trades run into the thousands of dollars, yet his profitable winning trades are only running into the hundreds of dollars, and so there's an obvious problem.
 
Like Robert says here, "I need to find a way to cut my losses short and end up being profitable," because, you see, when you think about that, the first email from Hadish wants 7 or 8 out of 10 winning trades. Robert's got that; yet, he's losing a lot of money.
 
Again, it comes back to the question and the topic that I've mentioned. Do win rates really matter?
 
From a psychological point of view, well, obviously, you don't want to be, let's say, losing 9 out of 10 trades, even though you could still be profitable. That's probably not really what people are after, but it also goes to show that when people come to me and they say, "Hey, Andrew, what's your win rate, or are you winning 80% of the time?" it's not really quite as important as most people think it is.
 
Going Back To The Basics
 
To me, it comes back to the basics that I talk about. The basics are:

* You have very low risk per trade
* You have higher reward to risk from your trades

That means that if your trade has been a profitable trade, it's making … depending on the trade and the time frame of the chart you're trading, but you need to be making that sort of 2, 3, or 4 times your risk when you have profitable trades.
 
With the low risk, I mean that you have a set percentage risk on every trade. The problem is that Robert was having his losing trades being massive losing trades. That just shouldn't happen because you should have a controlled risk on each trade, so it's X percent of your account. In my case, it's always half of 1%, so on a $10,000 account, let's say, the most you can lose on any one trade is $50. If you think about having the high returns on each trade, it means that you're making $100 or $150 or $200 on a profitable trade, yet you're only risking $50 on that trade, so you know the very worst you can do.
 
What I highly recommend, Robert especially, you do is you download my Lot Size calculator. It's freely available on my site. It's a fantastic tool, and it helps to keep your risk under control and mana...]]>http://theforextradingcoach.com/?p=5740Sun, 16 Aug 2015 19:32:33 +0000Andrew MitchemPodcast: Do win rates really matter?  In this video: 00:31   Two Sides To The Story 02:31   Going Back To The Basics 04:10   Two Webinars for New and Experienced Traders Does your win rate really matter? Let's talk about that and more right now....
Do win rates really matter? 
In this video:
00:31   Two Sides To The Story
02:31   Going Back To The Basics
04:10   Two Webinars for New and Experienced Traders
Does your win rate really matter? Let's talk about that and more right now.
 
Hi there, Forex traders. It's Andrew Mitchem here, the Forex trading coach. Today is Friday, the 14th of August. In today's video and podcast, I want to talk about a subject that eventually had 2 emails about just this week. It's about your win rate. How many trades out of 10, let's say, for example, are you profitable on, and does that really matter?
 
Two Sides To The Story
 
Like most things, there's 2 sides to the story here, and I'd like to read out just some extracts from two of those emails. The first one is from Hadish, and he says, "Look, Andrew, I'm looking for some form of trading system or trading signals that are going to make me money on 7 or 8 out of 10 trades." Just park that for one moment, and then I'll read you an extract and the second email was from Robert, and Robert said to me, "Andrew, I'm able to make money from my trades, but then I'm finding that they're turning against me. The problem is that my losing trades end up staying in the market for too long and being big losing trades, and then I end up cutting short my winning and my profitable trades.”
 
Robert is saying he's ending up with around a 7 or 8 out of 10 winning trades, but the problem is, like he says here, is that his losing trades run into the thousands of dollars, yet his profitable winning trades are only running into the hundreds of dollars, and so there's an obvious problem.
 
Like Robert says here, "I need to find a way to cut my losses short and end up being profitable," because, you see, when you think about that, the first email from Hadish wants 7 or 8 out of 10 winning trades. Robert's got that; yet, he's losing a lot of money.
 
Again, it comes back to the question and the topic that I've mentioned. Do win rates really matter?
 
From a psychological point of view, well, obviously, you don't want to be, let's say, losing 9 out of 10 trades, even though you could still be profitable. That's probably not really what people are after, but it also goes to show that when people come to me and they say, "Hey, Andrew, what's your win rate, or are you winning 80% of the time?" it's not really quite as important as most people think it is.
 
Going Back To The Basics
 
To me, it comes back to the basics that I talk about. The basics are:

* You have very low risk per trade
* You have higher reward to risk from your trades

That means that if your trade has been a profitable trade, it's making … depending on the trade and the time frame of the chart you're trading, but you need to be making that sort of 2, 3, or 4 times your risk when you have profitable trades.
 
With the low risk, I mean that you have a set percentage risk on every trade. The problem is that Robert was having his losing trades being massive losing trades. That just shouldn't happen because you should have a controlled risk on each trade, so it's X percent of your account. In my case, it's always half of 1%, so on a $10,000 account, let's say, the most you can lose on any one trade is $50. If you think about having the high returns on each trade, it means that you're making $100 or $150 or $200 on a profitable trade, yet you're only risking $50 on that trade, so you know the very worst you can do.
 
What I highly recommend, Robert especially, you do is you download my Lot Size calculator. It's freely available on my site. It's a fantastic tool, and it helps to keep your risk under control and mana...]]>314falsefullhttps://www.spreaker.com/episode/how-to-manage-open-trading-positions--12239744
How to Manage Open Trading Positions?
In this video:
00:50 Your Different Options
02:58 Low Risk Trading Approach
05:42 Don't Forget About US Non-Farm Payrolls!
What's the best way of managing your open trading positions? Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, the Forex Trading Coach and today is Friday, the 7th of August. In this video and podcast, I wanted to have a chat about a really important subject and it's one that I discussed just last night with my clients on a live trading room webinar. I generally have a pretty full room of clients from all around the world and we get together every two weeks for around two sometimes two and a half hours of live trading. When I'm trading on my live account on my screen behind me here and my clients get to follow along and we have chats in between taking trades.
Your Different Options
One of those chats was all about how to manage open positions, you know, what to do? Really there are a couple of different options for you.
1. One, the most easiest, is to adopt a complete 100 percent set and forget strategy. That's something that I like to try and do as much as possible. Now I use the word try because not always do I do that. A set and forget policy means that if you have your stop loss in place for a technical reason and you have your top profit in place for a technical reason, when you take the position itself based on what you see, based on your strategy, you're happy to take that position.
I like to give the market plenty of time to work and to get towards that profit target. Now of course if the trade goes against me, I'll get stopped at. I have a known pre-amount of risk on that trade, so for me and my examples, it's no more than half of one percent. That's a really good way of trading really. When I say managing your trade, you're not really managing it, because you placed it down and you leave it.
2. Another way is to monitor each candle, so for example, if I was to take a trade on the one hour charts, I might try to look at the completion of the next one hour buy and then the next one hour buy again and make my decisions on whether I look at closing some of the trade, all of the trade, moving stops, whatever it might be depending on the look of that next bar or next candle and on the close of that.
If I was taking a buy trade on the Euro/US Dollar (EUR/USD), let's say, one hour chart and the next buy closes really quite strong and bullish, then yeah, I'm happy to stay in the trade.
3. Next one again, really bullish, I might then just leave it through to its full profit target. If all the sudden some indecision shows and it looks like it's then turning against me, that then could be the time to say “Hey look, it may not get to my profit target, it may now time to start closing out of that trade.”, or whatever it might be, according to your strategy.
That's a couple of different ways.
Low Risk Trading Approach
Now as I shared with my clients last night on that live trading room webinar, I've taken only a handful of trades this week, around nine trades but all up I've had actually 18 closes so I've actually split some of those trades up into two closes or some even three and some just one. I've had 15 out of 18 profitable closes this week personally for a gain of 1.65 percent, which anywhere for me, if I'm looking with my low risk approach, somewhere between one and two percent gain consistently on average, then I'm more than happy with that. I'm on the upper side of that anyway, so far, with still today to go.
Of course, while we're talking about today being Friday, don't forget it's the US non-farm payrolls later today. Always a little bit volatile, spreads wide and etc around the time, so always be really careful with any open trades that you have leading into that news...]]>http://theforextradingcoach.com/?p=5722Sun, 09 Aug 2015 22:10:10 +0000Andrew MitchemPodcast: How to Manage Open Trading Positions? In this video: 00:50 Your Different Options 02:58 Low Risk Trading Approach 05:42 Don't Forget About US Non-Farm Payrolls! What's the best way of managing your open trading positions? Let's talk...
How to Manage Open Trading Positions?
In this video:
00:50 Your Different Options
02:58 Low Risk Trading Approach
05:42 Don't Forget About US Non-Farm Payrolls!
What's the best way of managing your open trading positions? Let's talk about that and more right now.
Hi Forex traders, it's Andrew Mitchem here, the Forex Trading Coach and today is Friday, the 7th of August. In this video and podcast, I wanted to have a chat about a really important subject and it's one that I discussed just last night with my clients on a live trading room webinar. I generally have a pretty full room of clients from all around the world and we get together every two weeks for around two sometimes two and a half hours of live trading. When I'm trading on my live account on my screen behind me here and my clients get to follow along and we have chats in between taking trades.
Your Different Options
One of those chats was all about how to manage open positions, you know, what to do? Really there are a couple of different options for you.
1. One, the most easiest, is to adopt a complete 100 percent set and forget strategy. That's something that I like to try and do as much as possible. Now I use the word try because not always do I do that. A set and forget policy means that if you have your stop loss in place for a technical reason and you have your top profit in place for a technical reason, when you take the position itself based on what you see, based on your strategy, you're happy to take that position.
I like to give the market plenty of time to work and to get towards that profit target. Now of course if the trade goes against me, I'll get stopped at. I have a known pre-amount of risk on that trade, so for me and my examples, it's no more than half of one percent. That's a really good way of trading really. When I say managing your trade, you're not really managing it, because you placed it down and you leave it.
2. Another way is to monitor each candle, so for example, if I was to take a trade on the one hour charts, I might try to look at the completion of the next one hour buy and then the next one hour buy again and make my decisions on whether I look at closing some of the trade, all of the trade, moving stops, whatever it might be depending on the look of that next bar or next candle and on the close of that.
If I was taking a buy trade on the Euro/US Dollar (EUR/USD), let's say, one hour chart and the next buy closes really quite strong and bullish, then yeah, I'm happy to stay in the trade.
3. Next one again, really bullish, I might then just leave it through to its full profit target. If all the sudden some indecision shows and it looks like it's then turning against me, that then could be the time to say “Hey look, it may not get to my profit target, it may now time to start closing out of that trade.”, or whatever it might be, according to your strategy.
That's a couple of different ways.
Low Risk Trading Approach
Now as I shared with my clients last night on that live trading room webinar, I've taken only a handful of trades this week, around nine trades but all up I've had actually 18 closes so I've actually split some of those trades up into two closes or some even three and some just one. I've had 15 out of 18 profitable closes this week personally for a gain of 1.65 percent, which anywhere for me, if I'm looking with my low risk approach, somewhere between one and two percent gain consistently on average, then I'm more than happy with that. I'm on the upper side of that anyway, so far, with still today to go.
Of course, while we're talking about today being Friday, don't forget it's the US non-farm payrolls later today. Always a little bit volatile, spreads wide and etc around the time, so always be really careful with any open trades that you have leading into that news...]]>356falsefullhttps://www.spreaker.com/episode/how-much-does-education-cost--12239745
How much does education cost?
In this video:
00:30 The Costs of Providing Learning
02:05 Why People Don’t Invest in Forex Education
03:55 The Amazing Benefits of Trading
How much does it cost to learn a new skill like trading? Let's talk about that and more right now.
Hi Forex traders it's Andrew Mitchem here, the Forex Trading Coach, and today is Friday, the 31st of July. In this video and podcast I wanted to have a talk and a bit of a chat about the cost of learning a new skill, and in particular, Forex trading.
The Costs of Providing Learning
What's it cost you in terms of time and money, and what can you get out of it?
What I've done is a bit of research into comparing it with other courses out there. Let's have a look at in New Zealand here, which is generally quite a cheap place for education. I've done a bit of a Google search and I've seen that it's somewhere between about 5 and 10,000 US dollars is what it will cost you for tuition fees if you went to university, plus of course you've got your living expenses on top of that.
I then went and had a look at what it would cost you in the UK. It's somewhere, depending on the cost, between about 20 and 50,000 US dollars per year for a university course, plus at an average of around $18,000 per year for living expenses. I then went and had a look at what it would cost in the US, and it's somewhere between about 30 and 40,000 US dollars per year for your tuition fees and your living expenses. You can see there's quite a common theme there.
Now as you know if you've been following me recently, over the past year and a half I've been learning to fly a helicopter and I passed my private license back in March. That still cost me in learning and tuition fees, etc., around 26,000 US dollars to learn that skill. When you think about all the university skills is when you come out of that … don't forget that's per year … when you come out of that you then still have to go and get a job and earn a salary, probably with a huge amount of debt.
Why People Don’t Invest in Forex Education
As I look at that and I think, well, why is it that people don't invest in their Forex education?
What is the reason?
Do people just think that they can go out there and Google research and find how to trade themselves?
That could be possible, and people can be self-taught. That's exactly how I learnt to trade myself, but it does take such a long time and a lot of trial and error. For me it took four years, and by that stage most people give up.
When you look at something that's maybe going to cost you a couple thousand dollars, and it's going to help you shortcut that, that time and that headache of learning, plus the money that you're likely to lose while you're learning, it to me just seems a complete no brainer why people don't consider that a good investment in themselves in terms of monetary investment and time investment. Also don't forget that once you can make money through trading, it's a skill that you have, it's something that you can pass on to other people. Plus it's something of course you can use it as a passive income to start with, and eventually some people can go on and earn their entire income from trading.
When you look at the actual investment in that in terms of education, the cost of buying a good course, it's absolutely such a small amount to pay for what the enormous gains can be. I just wanted to run that by you, when you compare a good Forex course with good university education. Of course the actual ongoing costs of learning to trade in terms of a computer and internet connection are tiny compared with going out to work every day for someone and being forced onto a salary because that's what they say you should be on. I just wanted to run that by you and just give you that comparison.]]>http://theforextradingcoach.com/?p=5700Thu, 30 Jul 2015 22:03:49 +0000Andrew MitchemPodcast: How much does education cost? In this video: 00:30 The Costs of Providing Learning 02:05 Why People Don’t Invest in Forex Education 03:55 The Amazing Benefits of Trading How much does it cost to learn a new skill like trading? Let's talk...
How much does education cost?
In this video:
00:30 The Costs of Providing Learning
02:05 Why People Don’t Invest in Forex Education
03:55 The Amazing Benefits of Trading
How much does it cost to learn a new skill like trading? Let's talk about that and more right now.
Hi Forex traders it's Andrew Mitchem here, the Forex Trading Coach, and today is Friday, the 31st of July. In this video and podcast I wanted to have a talk and a bit of a chat about the cost of learning a new skill, and in particular, Forex trading.
The Costs of Providing Learning
What's it cost you in terms of time and money, and what can you get out of it?
What I've done is a bit of research into comparing it with other courses out there. Let's have a look at in New Zealand here, which is generally quite a cheap place for education. I've done a bit of a Google search and I've seen that it's somewhere between about 5 and 10,000 US dollars is what it will cost you for tuition fees if you went to university, plus of course you've got your living expenses on top of that.
I then went and had a look at what it would cost you in the UK. It's somewhere, depending on the cost, between about 20 and 50,000 US dollars per year for a university course, plus at an average of around $18,000 per year for living expenses. I then went and had a look at what it would cost in the US, and it's somewhere between about 30 and 40,000 US dollars per year for your tuition fees and your living expenses. You can see there's quite a common theme there.
Now as you know if you've been following me recently, over the past year and a half I've been learning to fly a helicopter and I passed my private license back in March. That still cost me in learning and tuition fees, etc., around 26,000 US dollars to learn that skill. When you think about all the university skills is when you come out of that … don't forget that's per year … when you come out of that you then still have to go and get a job and earn a salary, probably with a huge amount of debt.
Why People Don’t Invest in Forex Education
As I look at that and I think, well, why is it that people don't invest in their Forex education?
What is the reason?
Do people just think that they can go out there and Google research and find how to trade themselves?
That could be possible, and people can be self-taught. That's exactly how I learnt to trade myself, but it does take such a long time and a lot of trial and error. For me it took four years, and by that stage most people give up.
When you look at something that's maybe going to cost you a couple thousand dollars, and it's going to help you shortcut that, that time and that headache of learning, plus the money that you're likely to lose while you're learning, it to me just seems a complete no brainer why people don't consider that a good investment in themselves in terms of monetary investment and time investment. Also don't forget that once you can make money through trading, it's a skill that you have, it's something that you can pass on to other people. Plus it's something of course you can use it as a passive income to start with, and eventually some people can go on and earn their entire income from trading.
When you look at the actual investment in that in terms of education, the cost of buying a good course, it's absolutely such a small amount to pay for what the enormous gains can be. I just wanted to run that by you, when you compare a good Forex course with good university education. Of course the actual ongoing costs of learning to trade in terms of a computer and internet connection are tiny compared with going out to work every day for someone and being forced onto a salary because that's what they say you should be on. I just wanted to run that by you and just give you that comparison.]]>373falsefullhttps://www.spreaker.com/episode/how-do-you-cope-with-a-series-of-losing-trades--12239746
How do you cope with a series of losing trades?
In this video:
01:08 What We Do As A Technical Trader
03:20 An Important Aspect of Trading
04:00 How To Improve Your Trading
How do you cope with a series of losing trades? Let's talk about that and more right now.
Hi, Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach and today's video and podcast, I want to talk about the inevitable losing trades. No one likes them, but everybody has them, some more than most. The point of this podcast and video is to try and help you overcome what happens when you have a series of losing trades. For some people, two or three trades could be really bad, some people might be able to cope with ten losing trades in a row.
Whatever it is, it's quite difficult to accept it, but you need to accept losing trades, because everybody, every trader does, no matter how good they are, they have losing trades. Some people have losing days, you have losing weeks. Some even have losing months. Now of course we try and eliminate those as much as possible, but you have to be prepared for that to potentially happen. Why? Well, trading's not an absolute certainty, it's not a given.
What We Do As A Technical Trader
A very technical trader like me, really what we're doing is we're looking at patterns and price action and we're looking for probability, because if it happened so many times before, that we see this certain pattern setting up, then the likelihood is that it's going to be a winning trade X number of times out of ten in the future. Regardless of the setup, you can have a perfect setup and it can still go wrong. Doesn't matter, even if you're a fundamental trader, you can be taking news announcements and trades can still go wrong, so it doesn't matter whether you're a technical or fundamental. You have to accept losing trades as part of the business of being a Forex trader.
How to overcome that?
Well, several tips that I have for you and I've mentioned this so many times before, but the important thing is to have low risk per trade. If you have low risk per trade, you can cope with a number of losing trades.
I'll give you an example. Yesterday I took three trades well actually I took four trades on the daily charts. Three of them got completely stopped out. I have a half percent (0.5%) risk on each of those trades, so on those three losing trades, I lost one and a half percent (1.5%) of my account just yesterday. Not great, but it's the way that trading goes.
I had some fairly good setups, and I was quite comfortable with the setups, they just didn't work out. Again, it's just probability. You can have the perfect looking setup and sometimes it will go completely against you. If you look at your charts on the Pound/New Zealand Dollar (GBP/NZD), for instance, which was one of those trades, the British Pound's been going up and up and up, the Kiwi dollar's been going down and down. Had the perfect setup, we had interest rate news out of New Zealand. There she dropped the interest rate, yet the Kiwi dollar went up.
Of course there's all sorts of reasons why that is in terms of they only dropped it by twenty five points, potentially it could have been fifty and then into the European session, we had lower than expected retail sales at all of the UK, which then dropped the British pound. There was me thinking, a strong British pound, weak Kiwi, in the end we got the complete opposite, the trade got stopped out. I just have to accept that's a part of trading.
An Important Aspect of Trading
The important thing is, is to not change your strategy around just because you've had a few losing trades and it's a really important aspect.
So many people who I get emails from and I speak to, they just, they come to me and they say, “Look Andrew, how can you help me to improve my trading?]]>http://theforextradingcoach.com/?p=5684Sun, 26 Jul 2015 16:00:47 +0000Andrew MitchemPodcast: How do you cope with a series of losing trades? In this video: 01:08 What We Do As A Technical Trader 03:20 An Important Aspect of Trading 04:00 How To Improve Your Trading How do you cope with a series of losing trades? Let's talk about...
How do you cope with a series of losing trades?
In this video:
01:08 What We Do As A Technical Trader
03:20 An Important Aspect of Trading
04:00 How To Improve Your Trading
How do you cope with a series of losing trades? Let's talk about that and more right now.
Hi, Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach and today's video and podcast, I want to talk about the inevitable losing trades. No one likes them, but everybody has them, some more than most. The point of this podcast and video is to try and help you overcome what happens when you have a series of losing trades. For some people, two or three trades could be really bad, some people might be able to cope with ten losing trades in a row.
Whatever it is, it's quite difficult to accept it, but you need to accept losing trades, because everybody, every trader does, no matter how good they are, they have losing trades. Some people have losing days, you have losing weeks. Some even have losing months. Now of course we try and eliminate those as much as possible, but you have to be prepared for that to potentially happen. Why? Well, trading's not an absolute certainty, it's not a given.
What We Do As A Technical Trader
A very technical trader like me, really what we're doing is we're looking at patterns and price action and we're looking for probability, because if it happened so many times before, that we see this certain pattern setting up, then the likelihood is that it's going to be a winning trade X number of times out of ten in the future. Regardless of the setup, you can have a perfect setup and it can still go wrong. Doesn't matter, even if you're a fundamental trader, you can be taking news announcements and trades can still go wrong, so it doesn't matter whether you're a technical or fundamental. You have to accept losing trades as part of the business of being a Forex trader.
How to overcome that?
Well, several tips that I have for you and I've mentioned this so many times before, but the important thing is to have low risk per trade. If you have low risk per trade, you can cope with a number of losing trades.
I'll give you an example. Yesterday I took three trades well actually I took four trades on the daily charts. Three of them got completely stopped out. I have a half percent (0.5%) risk on each of those trades, so on those three losing trades, I lost one and a half percent (1.5%) of my account just yesterday. Not great, but it's the way that trading goes.
I had some fairly good setups, and I was quite comfortable with the setups, they just didn't work out. Again, it's just probability. You can have the perfect looking setup and sometimes it will go completely against you. If you look at your charts on the Pound/New Zealand Dollar (GBP/NZD), for instance, which was one of those trades, the British Pound's been going up and up and up, the Kiwi dollar's been going down and down. Had the perfect setup, we had interest rate news out of New Zealand. There she dropped the interest rate, yet the Kiwi dollar went up.
Of course there's all sorts of reasons why that is in terms of they only dropped it by twenty five points, potentially it could have been fifty and then into the European session, we had lower than expected retail sales at all of the UK, which then dropped the British pound. There was me thinking, a strong British pound, weak Kiwi, in the end we got the complete opposite, the trade got stopped out. I just have to accept that's a part of trading.
An Important Aspect of Trading
The important thing is, is to not change your strategy around just because you've had a few losing trades and it's a really important aspect.
So many people who I get emails from and I speak to, they just, they come to me and they say, “Look Andrew, how can you help me to improve my trading?]]>373falsefullhttps://www.spreaker.com/episode/why-i-hate-fridays-as-a-forex-trader--12239747
Why I Hate Fridays As A Forex Trader?
In this video:
00:42 Why I never get bored of Forex
01:52 The Way That I Trade
05:24 The Simple Process of Forex Trading
I hate Fridays. Most people think I'm crazy because they hate Mondays. But I hate Fridays. Let me share with you why right now.
Hi Forex traders, it’s Andrew Mitchem here I'm the Forex Trading Coach and in today's video and podcast I wanted to explain to you why I actually hate Fridays. As I mentioned most people, they hate Mondays. After having the weekend off, people really look forward to Fridays and they hate going back to work on Monday. Why is that? It's probably because most people actually hate their job. They don't actually enjoy what they're doing. They're more forced to be in sort of that job for an income or whatever the reasons may be.
Why I never get bored of Forex
But for me, as a Forex trader, and someone who is really passionate about Forex trading and has been for the last 12+ years. I never get bored of Forex. I always look forward to it. It's always changing. The market is always changing. There's' different reasons why price is changing. Fundamental reasons, all sorts of reasons, technical reasons why things change on a daily basis. It just keeps the whole spark and the whole interest in trading alive all the time.
As a trader you actually need that. If you don't have that enjoyment and that passion to want to see what's happening in the markets and see what's happening etc… What's happening around different countries around the world? If you don't have that passion, then maybe Forex is not for you and potentially it's maybe time to look at something else.
But if you are someone that wants to be a trader; who wants to get into trading… You don't need to spend all day and night trading. You definitely don't need to do that, far from it. In fact, complete opposite. But you still need to have an interest in it and a bit of an enjoyment and a passion in trading. Otherwise, why do it, you may as well go look at some other form of investment.
The Way That I Trade
For me as a trader, it doesn't mean to say that I'm glued to my charts all day and night. Far from it. Just yesterday, for example, I traded once in the morning at 9:00 o’clock in the morning my time, which is actually 5:00pm New York time when the daily charts closed. At that time I looked at the 1-hour charts, the 4-hours, the 6, the 8, and the 12-hour charts and of course the daily charts. Then I went flying all day. I was out flying to a beautiful island called Waikiki Island with my wife and my youngest daughter and we went off for the day. I came back in the evening my time and looked at 4-hour charts at 5:00 in the evening my time, and then at 9:00 in the evening my time which is now 5:00am New York time.
I looked again at the 1-hour, the 4-hour, the 6 and the 12-hour charts. That's it, that's all I did. Just traded 3 individual times within the day and still had some great trades. You'd have known by looking at charts this week, we've had some amazing strength in the British Pound (GBP). We've had lots of weakness in the New Zealand Dollar (NZD and also in the Euro (EUR). Yesterday, I took 2 trades on the New Zealand/US (NZD/USD) and the New Zealand/Yen (NZD/JPY), short term both of them. While I was away, I stopped for lunch on the helicopter trip and looked at my phone. I'd seen both trades had hit profits.
You don't have to be there at the time, staring at charts all day and night, watching 1-minute and 5-minute charts. Those times seem to suit some people and that's absolutely fine. But, you don't have to be there all the time… Because I trade less within day and I try to find to look for the higher quality setups on those longer time frame charts… Because that's what suits me personally,]]>http://theforextradingcoach.com/?p=5666Thu, 16 Jul 2015 20:34:50 +0000Andrew MitchemPodcast: Why I Hate Fridays As A Forex Trader? In this video: 00:42 Why I never get bored of Forex 01:52 The Way That I Trade 05:24 The Simple Process of Forex Trading I hate Fridays. Most people think I'm crazy because they hate Mondays. But I...
Why I Hate Fridays As A Forex Trader?
In this video:
00:42 Why I never get bored of Forex
01:52 The Way That I Trade
05:24 The Simple Process of Forex Trading
I hate Fridays. Most people think I'm crazy because they hate Mondays. But I hate Fridays. Let me share with you why right now.
Hi Forex traders, it’s Andrew Mitchem here I'm the Forex Trading Coach and in today's video and podcast I wanted to explain to you why I actually hate Fridays. As I mentioned most people, they hate Mondays. After having the weekend off, people really look forward to Fridays and they hate going back to work on Monday. Why is that? It's probably because most people actually hate their job. They don't actually enjoy what they're doing. They're more forced to be in sort of that job for an income or whatever the reasons may be.
Why I never get bored of Forex
But for me, as a Forex trader, and someone who is really passionate about Forex trading and has been for the last 12+ years. I never get bored of Forex. I always look forward to it. It's always changing. The market is always changing. There's' different reasons why price is changing. Fundamental reasons, all sorts of reasons, technical reasons why things change on a daily basis. It just keeps the whole spark and the whole interest in trading alive all the time.
As a trader you actually need that. If you don't have that enjoyment and that passion to want to see what's happening in the markets and see what's happening etc… What's happening around different countries around the world? If you don't have that passion, then maybe Forex is not for you and potentially it's maybe time to look at something else.
But if you are someone that wants to be a trader; who wants to get into trading… You don't need to spend all day and night trading. You definitely don't need to do that, far from it. In fact, complete opposite. But you still need to have an interest in it and a bit of an enjoyment and a passion in trading. Otherwise, why do it, you may as well go look at some other form of investment.
The Way That I Trade
For me as a trader, it doesn't mean to say that I'm glued to my charts all day and night. Far from it. Just yesterday, for example, I traded once in the morning at 9:00 o’clock in the morning my time, which is actually 5:00pm New York time when the daily charts closed. At that time I looked at the 1-hour charts, the 4-hours, the 6, the 8, and the 12-hour charts and of course the daily charts. Then I went flying all day. I was out flying to a beautiful island called Waikiki Island with my wife and my youngest daughter and we went off for the day. I came back in the evening my time and looked at 4-hour charts at 5:00 in the evening my time, and then at 9:00 in the evening my time which is now 5:00am New York time.
I looked again at the 1-hour, the 4-hour, the 6 and the 12-hour charts. That's it, that's all I did. Just traded 3 individual times within the day and still had some great trades. You'd have known by looking at charts this week, we've had some amazing strength in the British Pound (GBP). We've had lots of weakness in the New Zealand Dollar (NZD and also in the Euro (EUR). Yesterday, I took 2 trades on the New Zealand/US (NZD/USD) and the New Zealand/Yen (NZD/JPY), short term both of them. While I was away, I stopped for lunch on the helicopter trip and looked at my phone. I'd seen both trades had hit profits.
You don't have to be there at the time, staring at charts all day and night, watching 1-minute and 5-minute charts. Those times seem to suit some people and that's absolutely fine. But, you don't have to be there all the time… Because I trade less within day and I try to find to look for the higher quality setups on those longer time frame charts… Because that's what suits me personally,]]>352falsefullhttps://www.spreaker.com/episode/don-t-let-a-few-bad-trades-ruin-your-trading-account--12239748
Don't let a few bad trades ruin your trading account
In this video:
00:29 Solutions to Your Trading Problems
01:18 Trading Calculator: How does it work?
02:31 The Good News!
Don't let a few bad trades ruin your trading account. Let's talk about that more right now.
Hi Forex traders, it's Andrew Mitchem here, the The Forex Trading Coach. Today is Friday the 10th of July and I've got two items I'd like to share with you. One piece of good news and one piece of not so good news but also there's a story there of how I can help you.
Solutions to Your Trading Problems
Let's start with the bad piece of news first. It's an email that I‘ve had come through this week. It's not from a client, so it's from a non-client and the person said to me, “Look, hey Andrew, my trading's going reasonably well but what I'm finding is that every time I take a loss, it generally is a big loss and it completely wipes out all the gains that I've taken and my account goes from being growing okay to sort of back negative again. What can I do to prevent that?”
Really, it's a very simple solution. You see, the way that I trade, and you'd know that I trade this way if you'd been following me now for a number of months or even years, is that I have an equal risk on every single trade that I take and I've got a fantastic trading calculator that works on the MT4 platform that can really help you.
Trading Calculator: How does it work?
If you don't have a copy of that, just jump onto my website, look on the top of my website and there's a tab that says “Calculator”. Download that and store that onto your MT4 account, whether it's a live or a demo account, any broker it will work.
What that does, is it allows you to really easily get the accurate position size that you need on every trade that you take regardless of your account size, regardless of the direction of the trade, regardless of the currency pay, regardless of the stop loss of the trade, doesn't matter. All that is easily entered into the calculator. It takes like about two or three seconds to do each time you want to take a trade.
It gives you the exact position size needed to keep equal risk on every single one of the trades that you take. It's just invaluable and so it would actually eliminate the problem that this person had. There's no point in making lots of little, small, tiny gains and then you get one whopping big losing trade that completely wipes out all of that good that you've done. Get yourself that calculator it will just help eliminate all of those issues. I hope that really helps. That was the bad issue for the week.
The Good News!
The good issue for the week, and I'm pleased to say it's from a coaching client of mine, from a guy called Craig over in Australia. Craig sent me through an email this week and he said, look Andrew, I had a great week last week and what I'm doing is, I'm taking trades with the main trends, looking for pull backs, everything that you teach in the course. Last week Craig made an incredible 15.5% account gain with only half percent risk per trade, so every single one of those trades had equal control of risk, but he made a 15.5% gain on 16 trades in the week.
Ten winning trades, six losing trades, I think that works out around a 63% win rate on profitable trades. That's fairly good, it's not an 80 or 90 percent win rate and you don't need it. Now the reason why you don't need that is because I think Craig said that his average return per trade was around a 2.5 to 1 reward to risk, so if he had a losing trade, he lost, let's say if he was trading 1%, he'd lose one percent of his account and if it was a profitable trade, the average trade made 2.5%. Divide those figures in half, because Craig was taking only a 0.5% risk per trade, but an amazing result. 15.5% just in one week on a live account by having ve...]]>http://theforextradingcoach.com/?p=5643Thu, 09 Jul 2015 22:05:56 +0000Andrew MitchemPodcast: Don't let a few bad trades ruin your trading account In this video: 00:29 Solutions to Your Trading Problems 01:18 Trading Calculator: How does it work? 02:31 The Good News! Don't let a few bad trades ruin your trading account. Let's...
Don't let a few bad trades ruin your trading account
In this video:
00:29 Solutions to Your Trading Problems
01:18 Trading Calculator: How does it work?
02:31 The Good News!
Don't let a few bad trades ruin your trading account. Let's talk about that more right now.
Hi Forex traders, it's Andrew Mitchem here, the The Forex Trading Coach. Today is Friday the 10th of July and I've got two items I'd like to share with you. One piece of good news and one piece of not so good news but also there's a story there of how I can help you.
Solutions to Your Trading Problems
Let's start with the bad piece of news first. It's an email that I‘ve had come through this week. It's not from a client, so it's from a non-client and the person said to me, “Look, hey Andrew, my trading's going reasonably well but what I'm finding is that every time I take a loss, it generally is a big loss and it completely wipes out all the gains that I've taken and my account goes from being growing okay to sort of back negative again. What can I do to prevent that?”
Really, it's a very simple solution. You see, the way that I trade, and you'd know that I trade this way if you'd been following me now for a number of months or even years, is that I have an equal risk on every single trade that I take and I've got a fantastic trading calculator that works on the MT4 platform that can really help you.
Trading Calculator: How does it work?
If you don't have a copy of that, just jump onto my website, look on the top of my website and there's a tab that says “Calculator”. Download that and store that onto your MT4 account, whether it's a live or a demo account, any broker it will work.
What that does, is it allows you to really easily get the accurate position size that you need on every trade that you take regardless of your account size, regardless of the direction of the trade, regardless of the currency pay, regardless of the stop loss of the trade, doesn't matter. All that is easily entered into the calculator. It takes like about two or three seconds to do each time you want to take a trade.
It gives you the exact position size needed to keep equal risk on every single one of the trades that you take. It's just invaluable and so it would actually eliminate the problem that this person had. There's no point in making lots of little, small, tiny gains and then you get one whopping big losing trade that completely wipes out all of that good that you've done. Get yourself that calculator it will just help eliminate all of those issues. I hope that really helps. That was the bad issue for the week.
The Good News!
The good issue for the week, and I'm pleased to say it's from a coaching client of mine, from a guy called Craig over in Australia. Craig sent me through an email this week and he said, look Andrew, I had a great week last week and what I'm doing is, I'm taking trades with the main trends, looking for pull backs, everything that you teach in the course. Last week Craig made an incredible 15.5% account gain with only half percent risk per trade, so every single one of those trades had equal control of risk, but he made a 15.5% gain on 16 trades in the week.
Ten winning trades, six losing trades, I think that works out around a 63% win rate on profitable trades. That's fairly good, it's not an 80 or 90 percent win rate and you don't need it. Now the reason why you don't need that is because I think Craig said that his average return per trade was around a 2.5 to 1 reward to risk, so if he had a losing trade, he lost, let's say if he was trading 1%, he'd lose one percent of his account and if it was a profitable trade, the average trade made 2.5%. Divide those figures in half, because Craig was taking only a 0.5% risk per trade, but an amazing result. 15.5% just in one week on a live account by having ve...]]>288falsefullhttps://www.spreaker.com/episode/why-it-s-important-to-understand-what-the-charts-are-telling-you--12239749
Why It’s Important To Understand What The Charts Are Telling You
In this video:
00:28 What’s happening on Your Charts
03:41 Why Does The Market Just Suddenly Stop
04: 42 The Best Style of Webinar For You
I wanted to talk about why is really important to understand what your charts are telling you. Let's talk about that and more right now.
Hi forex traders, it's Andrew Mitchem here. I am the Forex Trading Coach and today is Friday the 3rd of July.
The Importance of What Your Charts Are Telling You
In this video and podcast I want to talk to you more about why it's really important to understand what's happening on your charts, why looking at your charts and having an understanding of what they're telling you is so important for your success as a forex trader.
Let's talk about that.
As you would probably already know I'm a big fan of candle patterns, Japanese candle patterns. Why? Well they tell me in a really easy to understand format what's happening in the market right now. Now what's happening on the right-hand side of the chart in real time, and that's the only way you can really make money as a forex trader. Hindsight is fantastic to getting an understanding of what might happen, but right now at the right-hand side of the chart in real time is where it's all going to happen for you, your success or failure as a trader.
Candle patterns help determine that, they help show me that in a pictorial form. I can look at the price axis and see what the actual price is, but a quick glance at a candle pattern and it can tell me whether the currency pair is in indecisive mode where it's going sideways and range bad, or whether we're currently in good strong trends. That can help me so much because let's say for example the market is going sideways and there's indecision within the candle patterns, lots of pin bars and lots of dodgy style candles. It's telling me that really neither the buyers nor the sellers are in control overall of the market right now.
That's looking at the time frame of the chart that I'm looking at. Nobody is really in control. There's no strong uptrend, there's no strong downtrend, really always in sideways action on the markets. What that is telling me is really if I'm looking to place a new trade why would I bother looking at that particular currency pair, move on and look at another currency pair. What I'm really looking for is a currency pair that's showing me a good strong trend right now.
So what can you do? Well you can then get into the market if you see an opportunity for a new position. Or what you can do is if you were in a big strong uptrend you can then wait for a pullback, wait for a retracement, and get in at a lower price, a better price than what the market is giving you right now.
Then once you see bullish candle patterns after a retracement, after a pullback, then it's a great opportunity to jump in with buy trades and ride the market back up again in the overall direction. But after it's had that breather, after it's had that room to pullback and retracements.
Because no market does that, no market goes straight up. Price would always go up and down and come back and go up again and pullback, always having retracements within any movement, so always look for those opportunities to wait for the pullback. Right now the market is going against your overall direction and then wait for that opportunity to buy again in that uptrend, and exactly the same in reverse, obviously, for a sell trade.
That's the way I really like to look at trades. If I'm in a trade right now and I see a series of indecision candles, dodgy candles, the price not really moving, then I need to start thinking, well why is that? If I'm at a buy trend right now and all of a sudden the market suddenly goes flat, is it the time of day,]]>http://theforextradingcoach.com/?p=5600Sun, 05 Jul 2015 16:45:57 +0000Andrew MitchemPodcast: Why It’s Important To Understand What The Charts Are Telling You In this video: 00:28 What’s happening on Your Charts 03:41 Why Does The Market Just Suddenly Stop 04: 42 The Best Style of Webinar For You I wanted to talk about why is...
Why It’s Important To Understand What The Charts Are Telling You
In this video:
00:28 What’s happening on Your Charts
03:41 Why Does The Market Just Suddenly Stop
04: 42 The Best Style of Webinar For You
I wanted to talk about why is really important to understand what your charts are telling you. Let's talk about that and more right now.
Hi forex traders, it's Andrew Mitchem here. I am the Forex Trading Coach and today is Friday the 3rd of July.
The Importance of What Your Charts Are Telling You
In this video and podcast I want to talk to you more about why it's really important to understand what's happening on your charts, why looking at your charts and having an understanding of what they're telling you is so important for your success as a forex trader.
Let's talk about that.
As you would probably already know I'm a big fan of candle patterns, Japanese candle patterns. Why? Well they tell me in a really easy to understand format what's happening in the market right now. Now what's happening on the right-hand side of the chart in real time, and that's the only way you can really make money as a forex trader. Hindsight is fantastic to getting an understanding of what might happen, but right now at the right-hand side of the chart in real time is where it's all going to happen for you, your success or failure as a trader.
Candle patterns help determine that, they help show me that in a pictorial form. I can look at the price axis and see what the actual price is, but a quick glance at a candle pattern and it can tell me whether the currency pair is in indecisive mode where it's going sideways and range bad, or whether we're currently in good strong trends. That can help me so much because let's say for example the market is going sideways and there's indecision within the candle patterns, lots of pin bars and lots of dodgy style candles. It's telling me that really neither the buyers nor the sellers are in control overall of the market right now.
That's looking at the time frame of the chart that I'm looking at. Nobody is really in control. There's no strong uptrend, there's no strong downtrend, really always in sideways action on the markets. What that is telling me is really if I'm looking to place a new trade why would I bother looking at that particular currency pair, move on and look at another currency pair. What I'm really looking for is a currency pair that's showing me a good strong trend right now.
So what can you do? Well you can then get into the market if you see an opportunity for a new position. Or what you can do is if you were in a big strong uptrend you can then wait for a pullback, wait for a retracement, and get in at a lower price, a better price than what the market is giving you right now.
Then once you see bullish candle patterns after a retracement, after a pullback, then it's a great opportunity to jump in with buy trades and ride the market back up again in the overall direction. But after it's had that breather, after it's had that room to pullback and retracements.
Because no market does that, no market goes straight up. Price would always go up and down and come back and go up again and pullback, always having retracements within any movement, so always look for those opportunities to wait for the pullback. Right now the market is going against your overall direction and then wait for that opportunity to buy again in that uptrend, and exactly the same in reverse, obviously, for a sell trade.
That's the way I really like to look at trades. If I'm in a trade right now and I see a series of indecision candles, dodgy candles, the price not really moving, then I need to start thinking, well why is that? If I'm at a buy trend right now and all of a sudden the market suddenly goes flat, is it the time of day,]]>320falsefullhttps://www.spreaker.com/episode/can-back-testing-really-help-your-forex-results--12239751
When is the right time to join the party?
In This Video:
01:30 Back Testing Has Many Limitations
03:20 Back Testing Is Excellent For A Mechanical System
03:53 The Best Practise Is From The Right Hand Side Of The Chart
Can back testing really help your Forex results? Let’s talk about that and more, right now.
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach, and today is Friday the 26th of June. In this video and podcast I want to talk about back testing.
I have an email here from Nicholai who is a client of mine, and he said, “First of all Andrew, another great start to the week. I’m up +16% on a live account since April, trading just once a day at 5 o’clock New York time on the daily charts; the 12-hour, 8-hour, 6-hour and 4-hours. I don’t take anywhere near as many trades as I used to, only the highest probability set-ups, and this is what has really helped me progress further.”
First of all, that is a fantastic result, Nicholai, up +16% April, May, June; in two and a half months, up +16% trading just once a day. So that’s not watching charts all day long, it’s just trading once a day for probably fifteen minutes total per day.
But actually, on to the question. Nicholai said, “Andrew, can back testing really help me as a trader?”
Lots of people out there – lots of gurus – advise that you buy back testing software and they firmly believe that it can speed up your journey to becoming a successful trader.
Do you believe that our eyes can be trained quicker when we look for the same set up on back testing rather than doing it live?”
Back Testing Has Many Limitations
So here’s my take on back testing. Yes, it can be useful. No doubt about it, it can be useful, but you have to remember there are many limitations to when you’re looking at your strategy in hindsight with back testing data. A whole heap of things, such as:
Obviously it’s not live so you don’t have the emotions within your trading.
What was the sentiment like in the market at the time?
You know, what day of the week was it?
Was it the beginning of the week, was it middle of the week, end of the week?
What time of day was it?
What was the strength and weakness with all the currencies at the time?
How was the currency that you’re looking at performing against other currencies at the time?
What was the news at the time?
You know, had there been any news announcement just prior, or the day before, or was something about to be announced?
Did it affect that currency?
So there’s all sorts of different things that you cannot quite get to feel real when you’re back testing.
What time of year was it?
Was it coming up to a holiday like Christmas or Easter, or was it in the middle of July and August, which is the northern hemisphere’s summertime when the market generally goes a bit quieter.
So all those things just that you need to understand with any back testing, whether it’s proper software or whether you’re just looking back through your charts, just bear in mind that there are those limitations there. And, as I’ve mentioned, it’s not trading from the right hand side of the chart, so it’s quite easy with back testing to say, yes I would have done this, or I would have got out here, or I would have put my profit way up here, or whatever it might be.
But, would you really do that if it was live, with real money? That’s the things to consider.
Back Testing Is Excellent For A Mechanical System
If you have a 100% mechanical system – so if A and B line up, then you do C – if that’s the way that you trade, then absolutely back testing could be just a really easy to follow the set-up and to get fairly accurate results. But if you have some form of discretion and human input into your trading approach then jus...]]>http://theforextradingcoach.com/?p=5587Thu, 25 Jun 2015 21:54:56 +0000Andrew MitchemPodcast: When is the right time to join the party? In This Video: 01:30 Back Testing Has Many Limitations 03:20 Back Testing Is Excellent For A Mechanical System 03:53 The Best Practise Is From The Right Hand Side Of The Chart Can back testing...
When is the right time to join the party?
In This Video:
01:30 Back Testing Has Many Limitations
03:20 Back Testing Is Excellent For A Mechanical System
03:53 The Best Practise Is From The Right Hand Side Of The Chart
Can back testing really help your Forex results? Let’s talk about that and more, right now.
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach, and today is Friday the 26th of June. In this video and podcast I want to talk about back testing.
I have an email here from Nicholai who is a client of mine, and he said, “First of all Andrew, another great start to the week. I’m up +16% on a live account since April, trading just once a day at 5 o’clock New York time on the daily charts; the 12-hour, 8-hour, 6-hour and 4-hours. I don’t take anywhere near as many trades as I used to, only the highest probability set-ups, and this is what has really helped me progress further.”
First of all, that is a fantastic result, Nicholai, up +16% April, May, June; in two and a half months, up +16% trading just once a day. So that’s not watching charts all day long, it’s just trading once a day for probably fifteen minutes total per day.
But actually, on to the question. Nicholai said, “Andrew, can back testing really help me as a trader?”
Lots of people out there – lots of gurus – advise that you buy back testing software and they firmly believe that it can speed up your journey to becoming a successful trader.
Do you believe that our eyes can be trained quicker when we look for the same set up on back testing rather than doing it live?”
Back Testing Has Many Limitations
So here’s my take on back testing. Yes, it can be useful. No doubt about it, it can be useful, but you have to remember there are many limitations to when you’re looking at your strategy in hindsight with back testing data. A whole heap of things, such as:
Obviously it’s not live so you don’t have the emotions within your trading.
What was the sentiment like in the market at the time?
You know, what day of the week was it?
Was it the beginning of the week, was it middle of the week, end of the week?
What time of day was it?
What was the strength and weakness with all the currencies at the time?
How was the currency that you’re looking at performing against other currencies at the time?
What was the news at the time?
You know, had there been any news announcement just prior, or the day before, or was something about to be announced?
Did it affect that currency?
So there’s all sorts of different things that you cannot quite get to feel real when you’re back testing.
What time of year was it?
Was it coming up to a holiday like Christmas or Easter, or was it in the middle of July and August, which is the northern hemisphere’s summertime when the market generally goes a bit quieter.
So all those things just that you need to understand with any back testing, whether it’s proper software or whether you’re just looking back through your charts, just bear in mind that there are those limitations there. And, as I’ve mentioned, it’s not trading from the right hand side of the chart, so it’s quite easy with back testing to say, yes I would have done this, or I would have got out here, or I would have put my profit way up here, or whatever it might be.
But, would you really do that if it was live, with real money? That’s the things to consider.
Back Testing Is Excellent For A Mechanical System
If you have a 100% mechanical system – so if A and B line up, then you do C – if that’s the way that you trade, then absolutely back testing could be just a really easy to follow the set-up and to get fairly accurate results. But if you have some form of discretion and human input into your trading approach then jus...]]>332falsefullhttps://www.spreaker.com/episode/news-trading-how-to-do-it-and-what-to-expect-from-it--12239750
News Trading: How To Do It And What To Expect From It
In This Video:
2:22 The Challenges With News Trading
3:05 Trade With Charts For Big Impact
6:05 Base Trades on Technical Analysis
Let’s talk about news trading; how to do it and what to expect from it. So let’s talk about that more, right now.
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach, and today is Friday, the 19th of June and in this video and podcast I want to talk about trading the news as a Forex trader.
I get asked questions quite often about news trading, and although I am now a technical trader, I have traded the news in the past. I had another email came through here just this week from Seya, and Seya says, “Hi Andrew I am a big fan of yours and without fail I always listen to your weekly podcast and I read your daily news updates on your website. Can you talk about news trading i.e. the higher impact data events like the Fed rate decisions etc?
So, the way I look at trading is this: as a technical trader I look at the charts. Yes, news affects how the charts develop and without a doubt we have to be aware of the higher impact news announcements, because that’s how the market moves. Sentiment changes on news announcements.
Now, about eleven or twelve years ago when I started trading Forex, I used to trade the news quite often because back then, things were different and, like most things in life, times change. And back then I used to make a lot of money out of straddling things like the non-farm payrolls or non-farm employment change that it’s called today. And back then you could do that. You could put a buy stop on above the current price and a sell stop below the current price. And, as I’ve mentioned many times, and it is also in my book, I make around 12% on my first non-farm payroll news announcement by having a straddle. I had a ten grand account back then and I made about twelve hundred dollars in less than thirty seconds! Let’s say a buy stop got filled, as soon as I could delete the sell stop. I was in a big, frantic panic. I closed the buy stop out. I made 12 % on live account on my very first non-farm payroll. And I thought, wow this is so amazing, this is so easy! But back then you could do those type of things.
The Challenges With News Trading
But today, things have moved on. Brokers have made that a lot harder to do. You get price freezes during news announcements, you get big gaps, you get wide spreads before the announcement, you get spikes up and down. You just can’t straddle the news like you used to be able to do. You get other things. If you place an order in there you suddenly find there’s a big spike up, let’s say, and you get filled way up here whereas you asked to be filled down here, so you get those types of things happen. And really it makes it very hard to trade news as like a straddle trade.
People do have things like they will wait for a news announcement and they’ll place a trade after that news, and that’s fine if you have a method that works. And of course there are news traders out there that make a lot of money out of trading.
Trade With Charts For Big Impact
But me as a technical trader, I much prefer to look at the charts because the charts, especially the longer timeframe charts, tell me where the news is likely to move the market. So I have a fairly good understanding of whether the news is likely to be better or worse than anticipated by what’s already been shown, several hours sometimes, several days sometimes, in advance of that news announcement actually happening.
So this is how I look at news trading. Now, as a technical trader (not a fundamental trader), if I am trading 4-hour charts and higher than that, so 6-hour charts or daily charts, whatever it might be, the news doesn’t really affect those trades as in getting a stop out because those longer...]]>http://theforextradingcoach.com/?p=5558Thu, 18 Jun 2015 22:01:20 +0000Andrew MitchemPodcast: News Trading: How To Do It And What To Expect From It In This Video: 2:22 The Challenges With News Trading 3:05 Trade With Charts For Big Impact 6:05 Base Trades on Technical Analysis Let’s talk about news trading; how to do it and what...
News Trading: How To Do It And What To Expect From It
In This Video:
2:22 The Challenges With News Trading
3:05 Trade With Charts For Big Impact
6:05 Base Trades on Technical Analysis
Let’s talk about news trading; how to do it and what to expect from it. So let’s talk about that more, right now.
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach, and today is Friday, the 19th of June and in this video and podcast I want to talk about trading the news as a Forex trader.
I get asked questions quite often about news trading, and although I am now a technical trader, I have traded the news in the past. I had another email came through here just this week from Seya, and Seya says, “Hi Andrew I am a big fan of yours and without fail I always listen to your weekly podcast and I read your daily news updates on your website. Can you talk about news trading i.e. the higher impact data events like the Fed rate decisions etc?
So, the way I look at trading is this: as a technical trader I look at the charts. Yes, news affects how the charts develop and without a doubt we have to be aware of the higher impact news announcements, because that’s how the market moves. Sentiment changes on news announcements.
Now, about eleven or twelve years ago when I started trading Forex, I used to trade the news quite often because back then, things were different and, like most things in life, times change. And back then I used to make a lot of money out of straddling things like the non-farm payrolls or non-farm employment change that it’s called today. And back then you could do that. You could put a buy stop on above the current price and a sell stop below the current price. And, as I’ve mentioned many times, and it is also in my book, I make around 12% on my first non-farm payroll news announcement by having a straddle. I had a ten grand account back then and I made about twelve hundred dollars in less than thirty seconds! Let’s say a buy stop got filled, as soon as I could delete the sell stop. I was in a big, frantic panic. I closed the buy stop out. I made 12 % on live account on my very first non-farm payroll. And I thought, wow this is so amazing, this is so easy! But back then you could do those type of things.
The Challenges With News Trading
But today, things have moved on. Brokers have made that a lot harder to do. You get price freezes during news announcements, you get big gaps, you get wide spreads before the announcement, you get spikes up and down. You just can’t straddle the news like you used to be able to do. You get other things. If you place an order in there you suddenly find there’s a big spike up, let’s say, and you get filled way up here whereas you asked to be filled down here, so you get those types of things happen. And really it makes it very hard to trade news as like a straddle trade.
People do have things like they will wait for a news announcement and they’ll place a trade after that news, and that’s fine if you have a method that works. And of course there are news traders out there that make a lot of money out of trading.
Trade With Charts For Big Impact
But me as a technical trader, I much prefer to look at the charts because the charts, especially the longer timeframe charts, tell me where the news is likely to move the market. So I have a fairly good understanding of whether the news is likely to be better or worse than anticipated by what’s already been shown, several hours sometimes, several days sometimes, in advance of that news announcement actually happening.
So this is how I look at news trading. Now, as a technical trader (not a fundamental trader), if I am trading 4-hour charts and higher than that, so 6-hour charts or daily charts, whatever it might be, the news doesn’t really affect those trades as in getting a stop out because those longer...]]>410falsefullhttps://www.spreaker.com/episode/why-trading-forex-beats-being-a-farmer--12239753
Why Trading Forex Beats Being a Farmer
In This Video:
00:54 The Challenges of Farming
01:57 Forex Gives you Complete Control
03:59 An Email about Trading Skills
I want to talk about why trading Forex beats being a farmer, so let’s get into that right now!
Hi Forex Traders, it’s Andrew Mitchem here, today is Friday the 12th of June and in today’s video and podcast, I want to explain to you the differences between what I used to do, which is being a dairy farmer, and what I have done for the last 12-years, which is being a Forex Trader or a currency trader.
And I want to explain why in my opinion, what I currently do now far outweighs being a dairy farmer, so let’s talk about that because I’ve got fairly good experience about both. Now, I was born on a dairy farm, I’ve been educated in agriculture, I moved to New Zealand 19-years ago to continue farming. I’ve owned a farm, I’ve sold a farm – so I’ve got a fairly good understanding of farming.
The Challenges of Farming
But the problem with farming, and dairy farming in particular, is that so many aspects of it are outside of your control.

* You don’t have any control over the weather, the climate.
* You don’t have any control over disease.
* You don’t have control over a lot of your costs such as fuels and fertilizers and feed costs.
* You don’t have control over legislation in terms of safety requirements and food hygiene requirements that come in.

Everything that adds to your cost and really does affect your business in so many ways and you have really little control over all of those things. Yet you have a massive amount of assets tied up, capital tied up within the animals or within the farm.
And a lot of people seem to think, for some reason that you don’t have much control over what you are doing when you’re a Forex trader. But actually I believe that that’s incorrect. I believe that you actually have a lot of control over what you’re doing as a trader and let me explain why.
Forex Gives you Complete Control
You see, when you’re trading Forex, you have control over what you trade – which currency pair you trade, when you trade; what time-frames you trade; which direction you trade; you can be a technical trader, a fundamental trader or a combination of both; you can control your risk that you take on a trade. You can close part of a trade, you can move stop losses, you can close all of your trades, you can do whatever you like.
Of course you can’t control the actual movements within the market but that’s where education and knowledge comes in and understanding price patterns and what’s happened previously in terms of support and resistance and how that’s likely to affect your trades going forward.
But when it actually comes to be able to manage your trades and place your trades, you actually have a huge amount of control – far more than you probably do within farming when major parts that affect your business are completely out of your control. And also don’t forget the actual barriers of entry – the cost of being a dairy farmer are enormous and involve huge amounts of debts for most people whereas the cost of entry into trading – a computer and Internet connection, if you want to go well with your trading – likely some form of education – and then, once you’re ready to go from demo to live, some form of assets in terms of account to trade on. But really, that’s quite low when you consider the barriers to entry for trading as opposed to farming.
So I hope that explains it – I’ve seen both sides of the equation – I’ve seen the physical aspect of being a farmer and I’ve seen the online version and what I’ve done for the last 12-years of being a trader. So to me they are two very different aspects there but I’m more than comfortable and happy with the option that I am currently do...]]>http://theforextradingcoach.com/?p=5545Thu, 11 Jun 2015 22:04:32 +0000Andrew MitchemPodcast: Why Trading Forex Beats Being a Farmer In This Video: 00:54 The Challenges of Farming 01:57 Forex Gives you Complete Control 03:59 An Email about Trading Skills I want to talk about why trading Forex beats being a farmer, so let’s get...
Why Trading Forex Beats Being a Farmer
In This Video:
00:54 The Challenges of Farming
01:57 Forex Gives you Complete Control
03:59 An Email about Trading Skills
I want to talk about why trading Forex beats being a farmer, so let’s get into that right now!
Hi Forex Traders, it’s Andrew Mitchem here, today is Friday the 12th of June and in today’s video and podcast, I want to explain to you the differences between what I used to do, which is being a dairy farmer, and what I have done for the last 12-years, which is being a Forex Trader or a currency trader.
And I want to explain why in my opinion, what I currently do now far outweighs being a dairy farmer, so let’s talk about that because I’ve got fairly good experience about both. Now, I was born on a dairy farm, I’ve been educated in agriculture, I moved to New Zealand 19-years ago to continue farming. I’ve owned a farm, I’ve sold a farm – so I’ve got a fairly good understanding of farming.
The Challenges of Farming
But the problem with farming, and dairy farming in particular, is that so many aspects of it are outside of your control.

* You don’t have any control over the weather, the climate.
* You don’t have any control over disease.
* You don’t have control over a lot of your costs such as fuels and fertilizers and feed costs.
* You don’t have control over legislation in terms of safety requirements and food hygiene requirements that come in.

Everything that adds to your cost and really does affect your business in so many ways and you have really little control over all of those things. Yet you have a massive amount of assets tied up, capital tied up within the animals or within the farm.
And a lot of people seem to think, for some reason that you don’t have much control over what you are doing when you’re a Forex trader. But actually I believe that that’s incorrect. I believe that you actually have a lot of control over what you’re doing as a trader and let me explain why.
Forex Gives you Complete Control
You see, when you’re trading Forex, you have control over what you trade – which currency pair you trade, when you trade; what time-frames you trade; which direction you trade; you can be a technical trader, a fundamental trader or a combination of both; you can control your risk that you take on a trade. You can close part of a trade, you can move stop losses, you can close all of your trades, you can do whatever you like.
Of course you can’t control the actual movements within the market but that’s where education and knowledge comes in and understanding price patterns and what’s happened previously in terms of support and resistance and how that’s likely to affect your trades going forward.
But when it actually comes to be able to manage your trades and place your trades, you actually have a huge amount of control – far more than you probably do within farming when major parts that affect your business are completely out of your control. And also don’t forget the actual barriers of entry – the cost of being a dairy farmer are enormous and involve huge amounts of debts for most people whereas the cost of entry into trading – a computer and Internet connection, if you want to go well with your trading – likely some form of education – and then, once you’re ready to go from demo to live, some form of assets in terms of account to trade on. But really, that’s quite low when you consider the barriers to entry for trading as opposed to farming.
So I hope that explains it – I’ve seen both sides of the equation – I’ve seen the physical aspect of being a farmer and I’ve seen the online version and what I’ve done for the last 12-years of being a trader. So to me they are two very different aspects there but I’m more than comfortable and happy with the option that I am currently do...]]>379falsefullhttps://www.spreaker.com/episode/what-s-the-difference-between-a-trading-strategy-and-a-trading-system--12239754
What’s the difference between a Trading Strategy and a Trading System? 
In This Video:
00:48 What is a Trading Strategy?
01:34 The Benefits of a Trading Strategy
03:19 Where do you Get that Education?
What’s the difference between a trading strategy and a trading system?
Let’s find out that and lots more, right now!
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach, today coming from beautiful Queenstown in the south island of New Zealand and as you can see behind me, it’s just an absolute stunning day here, bit of snow on the hills, getting ready for ski season. If you’re listening on the podcast, sorry you missed outfor an absolute stunning view behind.
So, in today’s video and podcast, I want to talk about the difference between a trading strategy and a trading system.
I’ve had an email here from Nikolai and he said, “Andrew, Can you let me know why having a strategy, not a system, can be more beneficial to my trading success?”
So, let’s really just talk about the difference between the two.
What is a Trading Strategy?
I have what I call a trading strategy. I don’t have a system!
A system to me is something that’s quite mechanical let’s say that if this happens, then do that. And you generally find that a lot of systems are things that people have coded into robots, EAs, expert advisors; that type of thing. And they’re fine!If that works for you and if you’ve got something that’s quite rigid, quite mechanical that works for you – if this crosses over that, then do this; exit after so much time or so many pips – that’s fine! If that works for you, great, go for it!
But for me personally, I much prefer trading strategy because I’m a technical trader. I like to look at the market, like to analyse the market, look at price-action, candle patterns, etc. and that’s what a trading strategy actually allows me to do.
The Benefits of a Trading Strategy
It allows me to be a little bit more flexible. You know, I don’t always trade exactly the same setups.
If I see what looks like a really good setup, I might think – hey look, it looks good but I’m already in that pair with another time-frame chart; I may already be looking at that pair coming to some form of exhaustion or possible reversal, so therefore though the setup’s good, I can see a reason not to take it – you know in terms of you might be buying at a round number or a resistance level – whatever it might be, well there could be news coming up on that particular pair.
So, I like to have flexibility in terms of my strategy itself. I also like flexibility in terms of the money management. I am quite strict on money management – I like to always want to have no more than half of one percent of my account traded, any risk on any trade. If the trade goes wrong, I lose no more than half of one percent. However, I might change that – I might go down to quarter of one-percent if I’ve got multiple trades open or multiple trades open on the same pair.
I might have a trade open, let’s say, on the Euro/US Dollar (EUR/USD) on the daily chart and the weekly chart and now I’m seeing a good setup on the 4-hour chart – all in the same direction – but now I am quite exposed to buy trades on the Euro/US Dollar (EUR/USD).
If I see this 4-hour chart setup and it’s a really good one, then I just might reduce my risk down to, say, quarter of one percent. Again, it’s adding a little bit of common sense, a little bit of flexibility within the system and that’s really what I call a strategy.
If that was a trading system, you’d be very rigid and say, you know, every trade has to be the same and the setups there so I’m going to take it. I might look at closing a trade part early if I see a reason to do that and again, that’s the strategy.
Elaborating with Other Trading Facets]]>http://theforextradingcoach.com/?p=5533Thu, 04 Jun 2015 22:11:10 +0000Andrew MitchemPodcast: What’s the difference between a Trading Strategy and a Trading System?  In This Video: 00:48 What is a Trading Strategy? 01:34 The Benefits of a Trading Strategy 03:19 Where do you Get that Education? What’s the difference between a...
What’s the difference between a Trading Strategy and a Trading System? 
In This Video:
00:48 What is a Trading Strategy?
01:34 The Benefits of a Trading Strategy
03:19 Where do you Get that Education?
What’s the difference between a trading strategy and a trading system?
Let’s find out that and lots more, right now!
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach, today coming from beautiful Queenstown in the south island of New Zealand and as you can see behind me, it’s just an absolute stunning day here, bit of snow on the hills, getting ready for ski season. If you’re listening on the podcast, sorry you missed outfor an absolute stunning view behind.
So, in today’s video and podcast, I want to talk about the difference between a trading strategy and a trading system.
I’ve had an email here from Nikolai and he said, “Andrew, Can you let me know why having a strategy, not a system, can be more beneficial to my trading success?”
So, let’s really just talk about the difference between the two.
What is a Trading Strategy?
I have what I call a trading strategy. I don’t have a system!
A system to me is something that’s quite mechanical let’s say that if this happens, then do that. And you generally find that a lot of systems are things that people have coded into robots, EAs, expert advisors; that type of thing. And they’re fine!If that works for you and if you’ve got something that’s quite rigid, quite mechanical that works for you – if this crosses over that, then do this; exit after so much time or so many pips – that’s fine! If that works for you, great, go for it!
But for me personally, I much prefer trading strategy because I’m a technical trader. I like to look at the market, like to analyse the market, look at price-action, candle patterns, etc. and that’s what a trading strategy actually allows me to do.
The Benefits of a Trading Strategy
It allows me to be a little bit more flexible. You know, I don’t always trade exactly the same setups.
If I see what looks like a really good setup, I might think – hey look, it looks good but I’m already in that pair with another time-frame chart; I may already be looking at that pair coming to some form of exhaustion or possible reversal, so therefore though the setup’s good, I can see a reason not to take it – you know in terms of you might be buying at a round number or a resistance level – whatever it might be, well there could be news coming up on that particular pair.
So, I like to have flexibility in terms of my strategy itself. I also like flexibility in terms of the money management. I am quite strict on money management – I like to always want to have no more than half of one percent of my account traded, any risk on any trade. If the trade goes wrong, I lose no more than half of one percent. However, I might change that – I might go down to quarter of one-percent if I’ve got multiple trades open or multiple trades open on the same pair.
I might have a trade open, let’s say, on the Euro/US Dollar (EUR/USD) on the daily chart and the weekly chart and now I’m seeing a good setup on the 4-hour chart – all in the same direction – but now I am quite exposed to buy trades on the Euro/US Dollar (EUR/USD).
If I see this 4-hour chart setup and it’s a really good one, then I just might reduce my risk down to, say, quarter of one percent. Again, it’s adding a little bit of common sense, a little bit of flexibility within the system and that’s really what I call a strategy.
If that was a trading system, you’d be very rigid and say, you know, every trade has to be the same and the setups there so I’m going to take it. I might look at closing a trade part early if I see a reason to do that and again, that’s the strategy.
Elaborating with Other Trading Facets]]>310falsefullhttps://www.spreaker.com/episode/why-do-so-many-people-give-up-forex-trading--12239755
Why do so many people give up Forex Trading?
In This Video:
01:28 The Leading Cause of Forex Dropouts
02:46 Education is the Problem – not the Market
04:18 Where do you Get that Education?
So why do so many people give up Forex trading? Let’s talk about that right now!
Hi traders, it’s Andrew Mitchem here, the Forex Trading Coach and today is Friday the 29th of May and I want to talk to you about that really important topic and conversation because I want to help you avoid being in the 95% group! I want you to be in the 5% group that are making money who are enjoying their trading and doing really well. Forget the 95% – that’s where the majority are.
But why are so many people in that 95% group?
Why are so many people losing money?
Why are so many people giving up?
The Leading Cause of Forex Dropouts
Well, to answer that question, we need to come back to the beginning. You see, with Forex, it’s such an easy market to get into, it’s all over the Internet; it’s just made out to be so easy to get into everything you need – even a demo account – an easy to open live account, even choose a broker from pretty much anywhere – they’re not all good but you know, you can choose a broker from wherever you like and you need an Internet connection!
You can try trade from your phone, from your iPad, from your desktop – whatever it might be, it’s so easy. The barriers to entry are very, very low and everybody makes it out to be so easy itself because, you know, you just need this magic indicator, you need this robot, whatever it might be, or this signal service or something and it’s going to make you a fortune and solve all your problems.
The problem is, in reality, it’s not quite like that – as so many people find out – and that’s why I think so many people give up. But the problem is, and it’s not like any other industry out there at all, why is it that so many people get into this business and this market of Forex trading, yet very few seek education?
You know, I can’t think of anything else that you’d do that’s brand new to you, that you have very little knowledge or understanding of, but you don’t go out there and seek some form of knowledge and some understanding, talk to someone – some education you know.
Education is the Problem – not the Market
Why do people just throw money at a Forex account with no strategy? They don’t have any goals, they don’t have any understanding of the market; they don’t really know what they’re doing but they’re happy to throw money and because they’re happy to throw money at it, it’s no wonder that 95% of all traders are losing money and then consequently give up through losing interest or losing faith in the market.
And then, the problem is people start blaming the broker, they start blaming the market; they think that the market is trading against them, you know, whatever it might be and this is as a result of people not investing in themselves – that is the biggest problem!
So, I’m here to tell you that it does take time to be a good trader! You know, I‘ve been there myself, I’ve been right there from the absolute beginning – I just wish that when I started trading, I had someone good to go to, who I could follow along and gain a strategy from, to help me along and to shortcut those initial few years where I really wasn’t making any money!
Doing a lot of research and going a lot of up and down on my account but I was making nothing really. So, look at education as an investment. If you really are serious about starting trading, look at spending some money first on education. You know, you can have a huge account but it means nothing if you don’t know how to trade it.
I get the opposite end of the scale quite often – people coming to me saying, “Oh, I can’t afford education – I’ve only got $1,000 in my account.]]>http://theforextradingcoach.com/?p=5513Thu, 28 May 2015 21:50:15 +0000Andrew MitchemPodcast: Why do so many people give up Forex Trading? In This Video: 01:28 The Leading Cause of Forex Dropouts 02:46 Education is the Problem – not the Market 04:18 Where do you Get that Education? So why do so many people give up Forex trading?...
Why do so many people give up Forex Trading?
In This Video:
01:28 The Leading Cause of Forex Dropouts
02:46 Education is the Problem – not the Market
04:18 Where do you Get that Education?
So why do so many people give up Forex trading? Let’s talk about that right now!
Hi traders, it’s Andrew Mitchem here, the Forex Trading Coach and today is Friday the 29th of May and I want to talk to you about that really important topic and conversation because I want to help you avoid being in the 95% group! I want you to be in the 5% group that are making money who are enjoying their trading and doing really well. Forget the 95% – that’s where the majority are.
But why are so many people in that 95% group?
Why are so many people losing money?
Why are so many people giving up?
The Leading Cause of Forex Dropouts
Well, to answer that question, we need to come back to the beginning. You see, with Forex, it’s such an easy market to get into, it’s all over the Internet; it’s just made out to be so easy to get into everything you need – even a demo account – an easy to open live account, even choose a broker from pretty much anywhere – they’re not all good but you know, you can choose a broker from wherever you like and you need an Internet connection!
You can try trade from your phone, from your iPad, from your desktop – whatever it might be, it’s so easy. The barriers to entry are very, very low and everybody makes it out to be so easy itself because, you know, you just need this magic indicator, you need this robot, whatever it might be, or this signal service or something and it’s going to make you a fortune and solve all your problems.
The problem is, in reality, it’s not quite like that – as so many people find out – and that’s why I think so many people give up. But the problem is, and it’s not like any other industry out there at all, why is it that so many people get into this business and this market of Forex trading, yet very few seek education?
You know, I can’t think of anything else that you’d do that’s brand new to you, that you have very little knowledge or understanding of, but you don’t go out there and seek some form of knowledge and some understanding, talk to someone – some education you know.
Education is the Problem – not the Market
Why do people just throw money at a Forex account with no strategy? They don’t have any goals, they don’t have any understanding of the market; they don’t really know what they’re doing but they’re happy to throw money and because they’re happy to throw money at it, it’s no wonder that 95% of all traders are losing money and then consequently give up through losing interest or losing faith in the market.
And then, the problem is people start blaming the broker, they start blaming the market; they think that the market is trading against them, you know, whatever it might be and this is as a result of people not investing in themselves – that is the biggest problem!
So, I’m here to tell you that it does take time to be a good trader! You know, I‘ve been there myself, I’ve been right there from the absolute beginning – I just wish that when I started trading, I had someone good to go to, who I could follow along and gain a strategy from, to help me along and to shortcut those initial few years where I really wasn’t making any money!
Doing a lot of research and going a lot of up and down on my account but I was making nothing really. So, look at education as an investment. If you really are serious about starting trading, look at spending some money first on education. You know, you can have a huge account but it means nothing if you don’t know how to trade it.
I get the opposite end of the scale quite often – people coming to me saying, “Oh, I can’t afford education – I’ve only got $1,000 in my account.]]>299falsefullhttps://www.spreaker.com/episode/do-you-need-to-be-good-at-maths-to-be-a-good-trader--12239757
Do You Need To Be Good At Maths To Be a Good Trader?
In This Video:
00:39 First Question of the Week – Math Problem!
01:44 Second Question of the Week – Strategy Reveals
03:13 Client Side Success
Do you need to be good at maths in order to be a good Forex trader?
I want to share that and a client’s fantastic results where he made nine and a half percent (9.5%) for the week and more details with you, right now!
Hi Forex traders, it’s Andrew Mitchem here, the Forex Trading Coach and in today’s video and podcast, I’d like to share with you a couple of questions that I’ve had sent through to me from a viewer and, also, as I mentioned, I’ve got a fantastic account increase of nine and a half percent from one of my clients who made that last week – I’d like to share that with you as well.
First Question of the Week – Math Problem!
So the first question here is: “Hi Andrew, do you need to be good at maths in order to be successful a Forex trader?”
And I suppose when you think about it, we’re dealing with numbers, we’re dealing with patterns quite a lot and so, yes it does help. You know if you’re talking of a price action, price levels; if you’re looking at calculations in terms of working out your risk or your reward, then yes, numerical skills obviously would be an advantage but the benefit and beauty we all have in Forex trading today is that there are so many tools out there – and I’ve got lot-size calculators and I’ve got scripts that my clients have that can work out the risk for you and place the trade for you even – based on a set risk!
So, having some skill-set in maths is important, yes, but it is not an absolute critical factor in determining whether you’re going to be a good trader or not. Probably more important is having a sound strategy, being able to implement it and be able to see it in real time and being consistent with that strategy is probably just as important!
Second Question of the Week – Strategy Reveals
The second question is, “Why are you sharing your strategy as a lot of traders believe if you disclose your strategy, it will stop working?”
And you know, I suppose I get asked that question quite a lot and it’s a very good logical question. Well, the Forex market is enormous, you know – I can’t really see how one strategy even if you share it with thousands and thousands of traders is really going to influence the market that much.
You see, I base my trading on price-action and candlestick patterns and it works across all currency pairs, across all time-frame charts. I’ve been trading that exact way for over 8-years now. The beauty is it works across all market conditions because if you think about it, if there’s nice trends going on then there’s lots of good price-action pattern showing.
If the market’s a little bit flat or subdued on one particular time-frame then you just don’t take any trades on that time-frame – Very little is setting up!
But more than often, if you go down to a different time frame, generally the shorter time-frames, you’ll always see a suitable trade somewhere if you really want to go hunting for it. The discipline of the trader though is to have the time-frames and the time of the day that suits you to trade and sticking to that – don’t go searching and hunting for trades – it’s just not worth it!
But, yeah, to answer the question – the market, the Forex market, is enormous! I can’t really ever see, you know, one person’s strategy is going to be that powerful that it influences the entire market – I can’t see it!
Client Side Success
And lastly, the third thing, and this is a great email that I received at the weekend from a client:”Andrew, just to let you know, I had another great trading week” – and notice it’s “another”. It’s not a one-off, it’s ‘another’ great trading week. 43-trades, 26,]]>http://theforextradingcoach.com/?p=5494Thu, 21 May 2015 22:00:13 +0000Andrew MitchemPodcast: Do You Need To Be Good At Maths To Be a Good Trader? In This Video: 00:39 First Question of the Week – Math Problem! 01:44 Second Question of the Week – Strategy Reveals 03:13 Client Side Success Do you need to be good at maths in order...
Do You Need To Be Good At Maths To Be a Good Trader?
In This Video:
00:39 First Question of the Week – Math Problem!
01:44 Second Question of the Week – Strategy Reveals
03:13 Client Side Success
Do you need to be good at maths in order to be a good Forex trader?
I want to share that and a client’s fantastic results where he made nine and a half percent (9.5%) for the week and more details with you, right now!
Hi Forex traders, it’s Andrew Mitchem here, the Forex Trading Coach and in today’s video and podcast, I’d like to share with you a couple of questions that I’ve had sent through to me from a viewer and, also, as I mentioned, I’ve got a fantastic account increase of nine and a half percent from one of my clients who made that last week – I’d like to share that with you as well.
First Question of the Week – Math Problem!
So the first question here is: “Hi Andrew, do you need to be good at maths in order to be successful a Forex trader?”
And I suppose when you think about it, we’re dealing with numbers, we’re dealing with patterns quite a lot and so, yes it does help. You know if you’re talking of a price action, price levels; if you’re looking at calculations in terms of working out your risk or your reward, then yes, numerical skills obviously would be an advantage but the benefit and beauty we all have in Forex trading today is that there are so many tools out there – and I’ve got lot-size calculators and I’ve got scripts that my clients have that can work out the risk for you and place the trade for you even – based on a set risk!
So, having some skill-set in maths is important, yes, but it is not an absolute critical factor in determining whether you’re going to be a good trader or not. Probably more important is having a sound strategy, being able to implement it and be able to see it in real time and being consistent with that strategy is probably just as important!
Second Question of the Week – Strategy Reveals
The second question is, “Why are you sharing your strategy as a lot of traders believe if you disclose your strategy, it will stop working?”
And you know, I suppose I get asked that question quite a lot and it’s a very good logical question. Well, the Forex market is enormous, you know – I can’t really see how one strategy even if you share it with thousands and thousands of traders is really going to influence the market that much.
You see, I base my trading on price-action and candlestick patterns and it works across all currency pairs, across all time-frame charts. I’ve been trading that exact way for over 8-years now. The beauty is it works across all market conditions because if you think about it, if there’s nice trends going on then there’s lots of good price-action pattern showing.
If the market’s a little bit flat or subdued on one particular time-frame then you just don’t take any trades on that time-frame – Very little is setting up!
But more than often, if you go down to a different time frame, generally the shorter time-frames, you’ll always see a suitable trade somewhere if you really want to go hunting for it. The discipline of the trader though is to have the time-frames and the time of the day that suits you to trade and sticking to that – don’t go searching and hunting for trades – it’s just not worth it!
But, yeah, to answer the question – the market, the Forex market, is enormous! I can’t really ever see, you know, one person’s strategy is going to be that powerful that it influences the entire market – I can’t see it!
Client Side Success
And lastly, the third thing, and this is a great email that I received at the weekend from a client:”Andrew, just to let you know, I had another great trading week” – and notice it’s “another”. It’s not a one-off, it’s ‘another’ great trading week. 43-trades, 26,]]>284falsefullhttps://www.spreaker.com/episode/how-to-trade-a-small-account--12239758
How to trade a small account
In This Video:
00:52 John’s Approach to Small Account Trading
02:10 The Advantage of Starting Small
03:44 Choosing the Best Path Forward
In this week’s video I’d like to offer you some helpful tips if you’re starting out with your trading with a small account, so let’s get into that right now!
Hi traders, this is Andrew Mitchem here the Forex Trading Coach, and today is Friday, the 15h of May. And I’ve had an email here from John who’s a client of mine over in the UK and he’s been with me for around 12 or 13 months. And we’ve had a discussion about some tips to help with focus and determination for someone who is starting trading with a live Forex account, but only with a relatively small account. When I say small, I mean something around about, let’s say, a thousand dollars or thousand pounds, somewhere around that type of level.
John’s Approach to Small Account Trading
And John said to me it’s just really important to stay focused and keep determination within your trading because when you do have a small account, obviously if you have profits, then they are small and steady. But it’s really important to, actually, forget the monetary return and actually focus on the percentage return because, like John said, if you focus on the actual monetary return, it’s not that exciting to start with. But you’ve got to see the longer term picture.
Then, John said here, what tips would I give, because he said, in the past he’s been guilty of overtrading and trading short time frames and looking at scalping the market. So my advice there was, obviously, trade the longer time frame charts and to look at trades with higher returns.
And so John’s actually done that – he said, “I’ve been putting in a huge amount of time and effort and my motions have been tested but all the time I’m trying to better myself.” And you have to remember this is a longer term investment. He said, “It’s an investment in myself and in my finances. I started a few months ago with a demo,” after taking a break from his trading! He opened a one-thousand pound demo and after a few weeks, felt really confident with that because of results, and is now back live trading again.
The Advantage of Starting Small
So, in the last four-weeks, he’s up 12% on his live account by only taking half of one percent risk per trade. It’s a fantastic achievement! And as he said, “With starting small, it can be hard because you do not see your account growing a lot based on the small account size.” But like he also correctly mentioned, he said, “If I had 900 to a thousand pounds in the bank, there’s no way in the world I would have made 12% in a month.”
So, you know, you look at it that way and you think, “well, look at the percentage of what you are making because whether it’s a small account or it gets slightly bigger, or a large account – you know, 12% in a month is 12%!”
And he said, “I’m trading profitably, target of 2 to 2.5% per week,” and he’s also developed a longer term plan – a spreadsheet of projections which helps keep you motivated so you can track your results and see that over time, the results are going up and up and up and up, which is fantastic – it helps to keep you motivated and it helps to take your focus away from the actual monetary return.
And like he said here, he plans to top-up the account as and when he can, over the coming months, and use it as a retirement fund. And lastly, after our email conversation, John said, “Andrew, I think it’s important people appreciate it that you’re not going to get millions in a month, it’s not going to happen. But with small wins, they soon add up and with compounding, anything can happen!”
Choosing the Best Path Forward
And so, yeah thanks John! That’s exactly right. It is quite hard when you’re actually starting out with a small account and thinkin...]]>http://theforextradingcoach.com/?p=5467Thu, 14 May 2015 22:05:46 +0000Andrew MitchemPodcast: How to trade a small account In This Video: 00:52 John’s Approach to Small Account Trading 02:10 The Advantage of Starting Small 03:44 Choosing the Best Path Forward In this week’s video I’d like to offer you some helpful tips if you’re...
How to trade a small account
In This Video:
00:52 John’s Approach to Small Account Trading
02:10 The Advantage of Starting Small
03:44 Choosing the Best Path Forward
In this week’s video I’d like to offer you some helpful tips if you’re starting out with your trading with a small account, so let’s get into that right now!
Hi traders, this is Andrew Mitchem here the Forex Trading Coach, and today is Friday, the 15h of May. And I’ve had an email here from John who’s a client of mine over in the UK and he’s been with me for around 12 or 13 months. And we’ve had a discussion about some tips to help with focus and determination for someone who is starting trading with a live Forex account, but only with a relatively small account. When I say small, I mean something around about, let’s say, a thousand dollars or thousand pounds, somewhere around that type of level.
John’s Approach to Small Account Trading
And John said to me it’s just really important to stay focused and keep determination within your trading because when you do have a small account, obviously if you have profits, then they are small and steady. But it’s really important to, actually, forget the monetary return and actually focus on the percentage return because, like John said, if you focus on the actual monetary return, it’s not that exciting to start with. But you’ve got to see the longer term picture.
Then, John said here, what tips would I give, because he said, in the past he’s been guilty of overtrading and trading short time frames and looking at scalping the market. So my advice there was, obviously, trade the longer time frame charts and to look at trades with higher returns.
And so John’s actually done that – he said, “I’ve been putting in a huge amount of time and effort and my motions have been tested but all the time I’m trying to better myself.” And you have to remember this is a longer term investment. He said, “It’s an investment in myself and in my finances. I started a few months ago with a demo,” after taking a break from his trading! He opened a one-thousand pound demo and after a few weeks, felt really confident with that because of results, and is now back live trading again.
The Advantage of Starting Small
So, in the last four-weeks, he’s up 12% on his live account by only taking half of one percent risk per trade. It’s a fantastic achievement! And as he said, “With starting small, it can be hard because you do not see your account growing a lot based on the small account size.” But like he also correctly mentioned, he said, “If I had 900 to a thousand pounds in the bank, there’s no way in the world I would have made 12% in a month.”
So, you know, you look at it that way and you think, “well, look at the percentage of what you are making because whether it’s a small account or it gets slightly bigger, or a large account – you know, 12% in a month is 12%!”
And he said, “I’m trading profitably, target of 2 to 2.5% per week,” and he’s also developed a longer term plan – a spreadsheet of projections which helps keep you motivated so you can track your results and see that over time, the results are going up and up and up and up, which is fantastic – it helps to keep you motivated and it helps to take your focus away from the actual monetary return.
And like he said here, he plans to top-up the account as and when he can, over the coming months, and use it as a retirement fund. And lastly, after our email conversation, John said, “Andrew, I think it’s important people appreciate it that you’re not going to get millions in a month, it’s not going to happen. But with small wins, they soon add up and with compounding, anything can happen!”
Choosing the Best Path Forward
And so, yeah thanks John! That’s exactly right. It is quite hard when you’re actually starting out with a small account and thinkin...]]>350falsefullhttps://www.spreaker.com/episode/trading-forex-is-all-about-achieving-results--12239760
Trading Forex is all about Achieving Results
In This Video:
00:36 It’s been a Good Two Weeks of May
02:04 Struggling for Profits?
03:28 Take your Trading to the Next Level
Trading is all about results and making profits, otherwise why bother to trade. So let’s talk about that and lots more, right now.
Hi Forex traders, it’s Andrew Mitchem here, the Forex Trading Coach, today is Friday, the 8th of May and I want to talk about results!
You see, it’s just so important of course that as traders, why are we trading? You know, what’s the point in watching charts, reading news announcements; whatever it is – whether you’re a fundamental, technical, a bit of both – whatever it is, unless you achieve profitable results and your account’s growing the majority of the time in the right direction, what’s the point in trading.
It’s been a Good Two Weeks of May
So, I want to share with you some results that I’ve had on some live accounts. I’ve got two accounts running – last week’s results I’ve had 4.3% gain on one account and a 3% gain on a second account. And this current week, I’m not trading anymore today because the UK elections results could or should be out sometime today and also it’s the non-farm payroll. So I’ve closed for the week.
So this week on my first account – a 6.7% gain and 3% gain on the second account. So all up, my first account which I trade 12-hour charts, 8-hour, 6-hour and 4-hour, I’m up 11% for two weeks – the last two weeks. On my other account which I trade weekly and daily charts, and occasionally the hour charts – I’m up 6% in the last two weeks.
So, it’s been a really good couple of weeks of course – not only for the results but clients are sending through results and saying the same type of things – of course we’re seeing some good trends within the market and that definitely helps us when we’re taking position because if you can ride the trends and get good pull-backs and then look for the trend to move again, of course that definitely aids us with a high probability chance of our trades hitting profits.
But, 11% on one account and 6% on another account, in just two weeks just shows what can be achieved and as I’ve mentioned at the beginning, it’s all about results and all about making a profit.
Struggling for Profits?
If you don’t do that then, really, why bother to trade?
But the problem is that, you know, if you believe the statistics – 90 to 95% of all retail Forex traders, which is lots of you and me’s out there, don’t make money! And that’s a big issue – you know, people are just not profitable.
So, what is it that’s making people not profitable?
Why are people not making money?
Well, if you’re one of those people, if you’ve been struggling to trade and to be profitable, what I highly suggest you do is jump on one of the free webinars I hold twice a week.
You can access it on my website, it’s called the Frustrated Traders Webinar and How to be Profitable within the Next 60-Days. So if that sounds like something you’d like to jump onto and learn more about, take advantage of it. It’s free! If you can’t attend it live, just register anyway and I’ll get a link to the recording sent to you.
What I do on those webinars, it’s the same webinar, it’s the same type of webinar; there’s no difference between each week; it’s the same type of information. It’s not specific to trading right now – that’s only what my clients get – what it is, is giving away tips and information, you know some of the things that I do differently than a lot of other traders and probably educators also, which is why I believe I’m profitable and why so many of my clients are profitable.
Take your Trading to the Next Level
So if you’d like to gain some really good insights, some tips, information on how you can trade profitably and turn your trading ...]]>http://theforextradingcoach.com/?p=5455Thu, 07 May 2015 21:54:15 +0000Andrew MitchemPodcast: Trading Forex is all about Achieving Results In This Video: 00:36 It’s been a Good Two Weeks of May 02:04 Struggling for Profits? 03:28 Take your Trading to the Next Level Trading is all about results and making profits, otherwise why...
Trading Forex is all about Achieving Results
In This Video:
00:36 It’s been a Good Two Weeks of May
02:04 Struggling for Profits?
03:28 Take your Trading to the Next Level
Trading is all about results and making profits, otherwise why bother to trade. So let’s talk about that and lots more, right now.
Hi Forex traders, it’s Andrew Mitchem here, the Forex Trading Coach, today is Friday, the 8th of May and I want to talk about results!
You see, it’s just so important of course that as traders, why are we trading? You know, what’s the point in watching charts, reading news announcements; whatever it is – whether you’re a fundamental, technical, a bit of both – whatever it is, unless you achieve profitable results and your account’s growing the majority of the time in the right direction, what’s the point in trading.
It’s been a Good Two Weeks of May
So, I want to share with you some results that I’ve had on some live accounts. I’ve got two accounts running – last week’s results I’ve had 4.3% gain on one account and a 3% gain on a second account. And this current week, I’m not trading anymore today because the UK elections results could or should be out sometime today and also it’s the non-farm payroll. So I’ve closed for the week.
So this week on my first account – a 6.7% gain and 3% gain on the second account. So all up, my first account which I trade 12-hour charts, 8-hour, 6-hour and 4-hour, I’m up 11% for two weeks – the last two weeks. On my other account which I trade weekly and daily charts, and occasionally the hour charts – I’m up 6% in the last two weeks.
So, it’s been a really good couple of weeks of course – not only for the results but clients are sending through results and saying the same type of things – of course we’re seeing some good trends within the market and that definitely helps us when we’re taking position because if you can ride the trends and get good pull-backs and then look for the trend to move again, of course that definitely aids us with a high probability chance of our trades hitting profits.
But, 11% on one account and 6% on another account, in just two weeks just shows what can be achieved and as I’ve mentioned at the beginning, it’s all about results and all about making a profit.
Struggling for Profits?
If you don’t do that then, really, why bother to trade?
But the problem is that, you know, if you believe the statistics – 90 to 95% of all retail Forex traders, which is lots of you and me’s out there, don’t make money! And that’s a big issue – you know, people are just not profitable.
So, what is it that’s making people not profitable?
Why are people not making money?
Well, if you’re one of those people, if you’ve been struggling to trade and to be profitable, what I highly suggest you do is jump on one of the free webinars I hold twice a week.
You can access it on my website, it’s called the Frustrated Traders Webinar and How to be Profitable within the Next 60-Days. So if that sounds like something you’d like to jump onto and learn more about, take advantage of it. It’s free! If you can’t attend it live, just register anyway and I’ll get a link to the recording sent to you.
What I do on those webinars, it’s the same webinar, it’s the same type of webinar; there’s no difference between each week; it’s the same type of information. It’s not specific to trading right now – that’s only what my clients get – what it is, is giving away tips and information, you know some of the things that I do differently than a lot of other traders and probably educators also, which is why I believe I’m profitable and why so many of my clients are profitable.
Take your Trading to the Next Level
So if you’d like to gain some really good insights, some tips, information on how you can trade profitably and turn your trading ...]]>296falsefullhttps://www.spreaker.com/episode/are-you-afraid-of-losing-money-with-your-trading--12239762
Are You Afraid of Losing Money with Your Trading?
 
In This Video:
01:29 Control always Overpowers Risks
03:25 What happens when People Understand this?
Are you afraid of losing money with your trading? If that sounds like you, listen up ‘cause I’ve got some great tips and help for you.
Hi Forex traders, it’s Andrew Mitchem here and I’m the Forex Trading Coach and I wanted to share with you some information about a survey that I held over the last couple of weeks on my website. You see, I asked people:

* What their biggest challenge was!
* What was their biggest concern with their trading?
* What’s holding them back with their trading

And I had some answers such as, a lack of understanding of the market, a lack of strategy; a number of people commented on – they were a little bit fearful of their broker – which broker to go for, what’s the broker going to steal from them, etc., and could they get their money back. But, without a doubt, the biggest reply in terms of number of replies was people were fearful of losing money from their trading.
And so what that does is it tells me a number of things – if you’re fearful of trading, there’s something wrong, isn’t there? You know there’s something that stopping you progressing from either a demo to a live or from a live to a bigger live-account. Whatever it might be but there’s definitely something wrong there for so many people to be fearful of trading.
And it tells me that most people out there don’t really have a strategy. They probably don’t have confidence in the way that they are trading. And so there’s other answers regarding lack of a strategy, etc, all come into play with the overall factor of the fear of losing money.
Control always Overpowers Risks
You see if you really don’t have a strategy, then you really are sort of guessing and gambling with your trading and I can see fully how people can have that fear of losing money. You see there’s so many people out there who hear horror stories, and you read or hear of other people who’ve lost huge amounts of money through trading. And it does put fear in so many people because obviously, you know, you just don’t want to be the next one.
But, more so than that, it tells me that a lot of people have a lack of understanding of money management!
You see, if you have controlled risk, then it allows you to take trades with more confidence. If you have a strategy you understand, it allows you to take trades with more confidence. You see really, and realistically, losing money and losing trades is a part of every trader’s day and week. You know, no one has a 100% win rate with trading – it just doesn’t happen – it’s not possible!
So, you have to accept that losing trades are just part of every day trading. But having controlled risk is a huge difference. You see, I know that when I place a trade, doesn’t matter what the currency pair, what the time frame, what the type of trade is, I know the very most I can lose on that trade is, in my example, half of one percent (0.5%) of my trading account.
So, what that does is it gives me confidence to place that trade because I know the very worst that I can do from that trade. You know I can’t lose 5% from that trade or 10% or half my account – whatever it is that other people are having the fear about. So it’s just impossible to do that because half of one percent (0.5%) is the very maximum, the very most that I ever risk on any one trade.
So, understanding money management, forgetting about pips, controlling your risks – that’s all part of overcoming that fear of losing money!
What happens when People Understand this?
And so, the opposite of that is when you have knowledge and education. And just a great example, just last night, I held another two-hour live trading room session for our webinar f...]]>http://theforextradingcoach.com/?p=5440Sun, 03 May 2015 12:50:27 +0000Andrew MitchemPodcast: Are You Afraid of Losing Money with Your Trading?   In This Video: 01:29 Control always Overpowers Risks 03:25 What happens when People Understand this? Are you afraid of losing money with your trading? If that sounds like you, listen up...
Are You Afraid of Losing Money with Your Trading?
 
In This Video:
01:29 Control always Overpowers Risks
03:25 What happens when People Understand this?
Are you afraid of losing money with your trading? If that sounds like you, listen up ‘cause I’ve got some great tips and help for you.
Hi Forex traders, it’s Andrew Mitchem here and I’m the Forex Trading Coach and I wanted to share with you some information about a survey that I held over the last couple of weeks on my website. You see, I asked people:

* What their biggest challenge was!
* What was their biggest concern with their trading?
* What’s holding them back with their trading

And I had some answers such as, a lack of understanding of the market, a lack of strategy; a number of people commented on – they were a little bit fearful of their broker – which broker to go for, what’s the broker going to steal from them, etc., and could they get their money back. But, without a doubt, the biggest reply in terms of number of replies was people were fearful of losing money from their trading.
And so what that does is it tells me a number of things – if you’re fearful of trading, there’s something wrong, isn’t there? You know there’s something that stopping you progressing from either a demo to a live or from a live to a bigger live-account. Whatever it might be but there’s definitely something wrong there for so many people to be fearful of trading.
And it tells me that most people out there don’t really have a strategy. They probably don’t have confidence in the way that they are trading. And so there’s other answers regarding lack of a strategy, etc, all come into play with the overall factor of the fear of losing money.
Control always Overpowers Risks
You see if you really don’t have a strategy, then you really are sort of guessing and gambling with your trading and I can see fully how people can have that fear of losing money. You see there’s so many people out there who hear horror stories, and you read or hear of other people who’ve lost huge amounts of money through trading. And it does put fear in so many people because obviously, you know, you just don’t want to be the next one.
But, more so than that, it tells me that a lot of people have a lack of understanding of money management!
You see, if you have controlled risk, then it allows you to take trades with more confidence. If you have a strategy you understand, it allows you to take trades with more confidence. You see really, and realistically, losing money and losing trades is a part of every trader’s day and week. You know, no one has a 100% win rate with trading – it just doesn’t happen – it’s not possible!
So, you have to accept that losing trades are just part of every day trading. But having controlled risk is a huge difference. You see, I know that when I place a trade, doesn’t matter what the currency pair, what the time frame, what the type of trade is, I know the very most I can lose on that trade is, in my example, half of one percent (0.5%) of my trading account.
So, what that does is it gives me confidence to place that trade because I know the very worst that I can do from that trade. You know I can’t lose 5% from that trade or 10% or half my account – whatever it is that other people are having the fear about. So it’s just impossible to do that because half of one percent (0.5%) is the very maximum, the very most that I ever risk on any one trade.
So, understanding money management, forgetting about pips, controlling your risks – that’s all part of overcoming that fear of losing money!
What happens when People Understand this?
And so, the opposite of that is when you have knowledge and education. And just a great example, just last night, I held another two-hour live trading room session for our webinar f...]]>306falsefullhttps://www.spreaker.com/episode/becoming-a-great-forex-trader-learning-from-japanese-culture--12239764
Becoming a Great Forex Trader – Learning from Japanese Culture!
In This Video:
00:37 Why the Japanese are a Trader’s Benchmark!
01:51 Probable Cause for the Japanese to take up Forex Trading
 
In today’s video, I want to talk about what it takes to be a fantastic Forex trader, so let’s get into that right now!
Hi traders, it’s Andrew Mitchem here, the Forex Trading Coach and in today’s weekly video and podcast I’m coming to you from Tokyo, in Japan, where I’m on the last leg of a trip around the world. Had a fantastic time here and just learnt so much!
As I mentioned, in today’s video and podcast, I want to talk about what it takes to become a really good Forex trader and when you think about the Japanese culture, there’s so many aspects of it that just screams ‘Great Traders’!
Why the Japanese are a Trader’s Benchmark!
You know they’re very dedicated people, they’re hard working people; they’re willing to learn; they’re willing to invest in themselves; they’re not so much worried about the short-term gains, they’re more interested in longer term gains. There’s a great respect here amongst everybody. They are efficient; they are hardworking – everything that you need to be to be a great Forex trader you can see in the Japanese culture.
And as someone who’s practised Karate for the last seven years, and years ago as a child I practiced Judo, it’s just really exciting to be here and to see what an amazing city and what an amazing culture the Japanese people have here.
So really, to be a trader, you need all of those aspects that I’ve mentioned – you do need to work hard, you do need to invest in yourself, you do need to look for the longer term gain – don’t be worried about what’s happening on the very next trade or the next week – look for the longer term gains. You know, be dedicated, work hard, be disciplined at your trading.
All of those features, you put those together, and they go a long, long way to becoming a successful Forex trader and as I mentioned, it’s just a great aspect to see in the Japanese culture. I love it! Just really great people – so polite, so nice and friendly!
Probable Cause for the Japanese to take up Forex Trading
I suppose the only thing that’s sort of a slight downside when you visit here is you just realise just what appalling savings interest rates they have here. And it’s no wonder that so many people trade Forex here and, like I said, I’ve met so many people here who’re extremely good at it as well.
I’ve just got some figures here –I was just talking to someone yesterday – the highest savings rate I can find here is 0.06%. The highest term deposit I can find for three-year’s term deposit is 0.22%. So when you see those figures and you realise that the people who have money in the traditional investments in terms of banks and things like that, their payouts, their interest rates are absolutely awful!
And again, it just shows why so many people are turning to Forex as a way of being successful. You know, when I look at those figures, 0.06% and 0.22%, well almost every trade that I take, that’s profitable, is higher than any one of those and it shows why trading is such a fantastic business to be in.
But back to the main purpose of this video and podcast is just think about those aspects of the Japanese culture. You know – hard working, disciplined; looking for the longer term gains, not the shorter term gains; willing to invest in themselves; working hard, willing to learn – all those aspects just great, great traits to have if you want to be a successful Forex trader.
So hope that helps and this time next week I’ll be back home in New Zealand so look forward to bringing you more trading information then.
So this is Andrew Mitchem, the Forex Trading Coach, last time from Tokyo!]]>http://theforextradingcoach.com/?p=5410Thu, 23 Apr 2015 22:00:27 +0000Andrew MitchemPodcast: Becoming a Great Forex Trader – Learning from Japanese Culture! In This Video: 00:37 Why the Japanese are a Trader’s Benchmark! 01:51 Probable Cause for the Japanese to take up Forex Trading   In today’s video, I want to talk about what...
Becoming a Great Forex Trader – Learning from Japanese Culture!
In This Video:
00:37 Why the Japanese are a Trader’s Benchmark!
01:51 Probable Cause for the Japanese to take up Forex Trading
 
In today’s video, I want to talk about what it takes to be a fantastic Forex trader, so let’s get into that right now!
Hi traders, it’s Andrew Mitchem here, the Forex Trading Coach and in today’s weekly video and podcast I’m coming to you from Tokyo, in Japan, where I’m on the last leg of a trip around the world. Had a fantastic time here and just learnt so much!
As I mentioned, in today’s video and podcast, I want to talk about what it takes to become a really good Forex trader and when you think about the Japanese culture, there’s so many aspects of it that just screams ‘Great Traders’!
Why the Japanese are a Trader’s Benchmark!
You know they’re very dedicated people, they’re hard working people; they’re willing to learn; they’re willing to invest in themselves; they’re not so much worried about the short-term gains, they’re more interested in longer term gains. There’s a great respect here amongst everybody. They are efficient; they are hardworking – everything that you need to be to be a great Forex trader you can see in the Japanese culture.
And as someone who’s practised Karate for the last seven years, and years ago as a child I practiced Judo, it’s just really exciting to be here and to see what an amazing city and what an amazing culture the Japanese people have here.
So really, to be a trader, you need all of those aspects that I’ve mentioned – you do need to work hard, you do need to invest in yourself, you do need to look for the longer term gain – don’t be worried about what’s happening on the very next trade or the next week – look for the longer term gains. You know, be dedicated, work hard, be disciplined at your trading.
All of those features, you put those together, and they go a long, long way to becoming a successful Forex trader and as I mentioned, it’s just a great aspect to see in the Japanese culture. I love it! Just really great people – so polite, so nice and friendly!
Probable Cause for the Japanese to take up Forex Trading
I suppose the only thing that’s sort of a slight downside when you visit here is you just realise just what appalling savings interest rates they have here. And it’s no wonder that so many people trade Forex here and, like I said, I’ve met so many people here who’re extremely good at it as well.
I’ve just got some figures here –I was just talking to someone yesterday – the highest savings rate I can find here is 0.06%. The highest term deposit I can find for three-year’s term deposit is 0.22%. So when you see those figures and you realise that the people who have money in the traditional investments in terms of banks and things like that, their payouts, their interest rates are absolutely awful!
And again, it just shows why so many people are turning to Forex as a way of being successful. You know, when I look at those figures, 0.06% and 0.22%, well almost every trade that I take, that’s profitable, is higher than any one of those and it shows why trading is such a fantastic business to be in.
But back to the main purpose of this video and podcast is just think about those aspects of the Japanese culture. You know – hard working, disciplined; looking for the longer term gains, not the shorter term gains; willing to invest in themselves; working hard, willing to learn – all those aspects just great, great traits to have if you want to be a successful Forex trader.
So hope that helps and this time next week I’ll be back home in New Zealand so look forward to bringing you more trading information then.
So this is Andrew Mitchem, the Forex Trading Coach, last time from Tokyo!]]>223falsefullhttps://www.spreaker.com/episode/are-you-trading-the-right-pairs-or-just-the-ones-closer-to-home--12239765
Are you Trading the Right Pairs or Just the Ones Closer to Home?
 
 
In This Video:
00:28 Do you Trade Currencies based on Where you Are?
01:25 Let’s look at How I Pick my Pairs
02:31 Always Let the Charts Talk to You
In today’s video I’m going to talk about which currency pairs I trade and the reasons why. So let’s get into that right now!
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach and I’m on holiday in Paris. Sorry if I’m shouting but as you can tell there’s a lot of noise behind me. I’m actually at the Arc de Triomphe as you can see here – a magnificent part of Paris – absolutely love it over here.
Do you Trade Currencies based on Where you Are?
So let’s go into trading itself. Well, just because I am in Paris doesn’t mean to say I’ve been trading the Euro (EUR). It’s important to trade what you see on the charts, at the time. What’s looking strong, what’s looking weak? And so, I deliberately never get to worry about which pairs I am trading. In fact the only pair that I’ve traded this week on the daily charts, as I’ve been on holiday and I haven’t really traded as much as I should have, is the New Zealand Dollar/Canadian Dollar (NZD/CAD), on the daily charts, and that’s all I’ve traded.
So you think about the New Zealand Dollar (NZD) and Canadian Dollar (CAD), not exactly the most prominent currency pair out there but that’s what I’ve taken. And, I’ve just looked on my charts on my mobile phone just a couple of minutes before I made this video and I’m up over 1.2% for that particular trade. So it just goes to show that you trade the pair that’s showing the best setup at the time and that’s regardless of the currency pair.
Let’s look at How I Pick my Pairs
Personally for me, I look through the daily charts each day, I look through the strengths and the weaknesses; the likely strong currencies; the likely weak currencies, and then you put those two pairs together. So, for instance, I was taking a buy trade on the New Zealand/Canadian Dollar (NZD/CAD), so I was looking for strength in the New Zealand and weakness in the Canadian Dollar (CAD) – I put the two together. The pair itself, actually, showed a really good, strong buy-trade setup so I took the trade.
So, I’ve put part of the order in at the market and another part at the retracement at a retracement level that I use. So, as I was buying the pair, I was looking for the pair to move back lower first and get me in on the retracement order before then pulling away and moving up into the long position.
In the end, the retracement order never filled but of course the market orders’ in straightaway and I made really good profit on that market order. So, regardless of the time frame you trade, to me it’s really important to trade the technical setup that’s showing, the best at the time – regardless of what that is; regardless of where you live!
Always Let the Charts Talk to You
You know, like I said, I’m from New Zealand so it doesn’t mean to say I’m always trading New Zealand Dollar (NZD). I’m in Europe this week; I was in America last week – doesn’t mean that I’m taking the U.S. Dollar (USD). So I hope that helps you take what’s showing the best technical trade at the time. Do that and you’ll give yourself a lot better chance at making some really good money from trading rather than, maybe, concentrating just on one pair – on, let’s say, the British Pound/U.S. Dollar (GBP/USD) – just because you think it’s a high volatility pair.
It is but that doesn’t mean to say that all the time it’s showing the best setups!
As an example, you might, let’s say, have strength in the British Pound (GBP) and also strength in the U.S. Dollar (USD) on the same day. Well, put those two together, what are you likely to see? Well, potentially,]]>http://theforextradingcoach.com/?p=5389Thu, 16 Apr 2015 21:52:57 +0000Andrew MitchemPodcast: Are you Trading the Right Pairs or Just the Ones Closer to Home?     In This Video: 00:28 Do you Trade Currencies based on Where you Are? 01:25 Let’s look at How I Pick my Pairs 02:31 Always Let the Charts Talk to You In today’s video...
Are you Trading the Right Pairs or Just the Ones Closer to Home?
 
 
In This Video:
00:28 Do you Trade Currencies based on Where you Are?
01:25 Let’s look at How I Pick my Pairs
02:31 Always Let the Charts Talk to You
In today’s video I’m going to talk about which currency pairs I trade and the reasons why. So let’s get into that right now!
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach and I’m on holiday in Paris. Sorry if I’m shouting but as you can tell there’s a lot of noise behind me. I’m actually at the Arc de Triomphe as you can see here – a magnificent part of Paris – absolutely love it over here.
Do you Trade Currencies based on Where you Are?
So let’s go into trading itself. Well, just because I am in Paris doesn’t mean to say I’ve been trading the Euro (EUR). It’s important to trade what you see on the charts, at the time. What’s looking strong, what’s looking weak? And so, I deliberately never get to worry about which pairs I am trading. In fact the only pair that I’ve traded this week on the daily charts, as I’ve been on holiday and I haven’t really traded as much as I should have, is the New Zealand Dollar/Canadian Dollar (NZD/CAD), on the daily charts, and that’s all I’ve traded.
So you think about the New Zealand Dollar (NZD) and Canadian Dollar (CAD), not exactly the most prominent currency pair out there but that’s what I’ve taken. And, I’ve just looked on my charts on my mobile phone just a couple of minutes before I made this video and I’m up over 1.2% for that particular trade. So it just goes to show that you trade the pair that’s showing the best setup at the time and that’s regardless of the currency pair.
Let’s look at How I Pick my Pairs
Personally for me, I look through the daily charts each day, I look through the strengths and the weaknesses; the likely strong currencies; the likely weak currencies, and then you put those two pairs together. So, for instance, I was taking a buy trade on the New Zealand/Canadian Dollar (NZD/CAD), so I was looking for strength in the New Zealand and weakness in the Canadian Dollar (CAD) – I put the two together. The pair itself, actually, showed a really good, strong buy-trade setup so I took the trade.
So, I’ve put part of the order in at the market and another part at the retracement at a retracement level that I use. So, as I was buying the pair, I was looking for the pair to move back lower first and get me in on the retracement order before then pulling away and moving up into the long position.
In the end, the retracement order never filled but of course the market orders’ in straightaway and I made really good profit on that market order. So, regardless of the time frame you trade, to me it’s really important to trade the technical setup that’s showing, the best at the time – regardless of what that is; regardless of where you live!
Always Let the Charts Talk to You
You know, like I said, I’m from New Zealand so it doesn’t mean to say I’m always trading New Zealand Dollar (NZD). I’m in Europe this week; I was in America last week – doesn’t mean that I’m taking the U.S. Dollar (USD). So I hope that helps you take what’s showing the best technical trade at the time. Do that and you’ll give yourself a lot better chance at making some really good money from trading rather than, maybe, concentrating just on one pair – on, let’s say, the British Pound/U.S. Dollar (GBP/USD) – just because you think it’s a high volatility pair.
It is but that doesn’t mean to say that all the time it’s showing the best setups!
As an example, you might, let’s say, have strength in the British Pound (GBP) and also strength in the U.S. Dollar (USD) on the same day. Well, put those two together, what are you likely to see? Well, potentially,]]>241falsefullhttps://www.spreaker.com/episode/why-chasing-pips-can-harm-your-trading--12239763
Why chasing Pips can harm your trading
 
In This Video:
00:27 The Wrong Thing to Focus on in Forex Trading
01:22 An Example of a Sound Trading Strategy
02:36 Pips Really Don’t Make a Difference
In today’s video I’m going to explain why chasing pips in your trading can actually make you poor. So let’s talk about that and much more, right now!
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach, on holiday here in the South of France and having a fantastic time. Now, today I’m going to talk about why chasing pips as a Forex Trader can actually be to your detriment. It’s not always a good thing!
The Wrong Thing to Focus on in Forex Trading
You see a lot of people think that to make money in trading you have to make so many pips and I have people all the time coming to me and saying, “Hey Andrew, can you tell me how many pips you’re making per trade or per week or per time frame,“ whatever it might be.
And honestly, I have no idea! What I can tell you is how much I’m making in terms of monetary value and also, more importantly, a percentage. Because, if you’re making a percentage gain, it doesn’t matter what size your account is, you’re always making that same percentage gain. So for example, if you’re making, let’s say, 10% per month on a $10,000 account, there’s no reason really apart from maybe a few psychological issues why you can’t make a 10% gain on a $100,000 account or a million dollar account.
It’s purely, like I said, psychological issues of being a little bit more nervous with bigger dollar amounts but really, the actual percentage and the way that you trade, in theory, should be exactly the same.
An Example of a Sound Trading Strategy
But the problem is, most people don’t think like that! Most people think that to make profit in trading, they have to make ‘x’ number of pips. And, as I’ve explained a number of times, that to me that’s just a really bad way of trading. It’s likely not to be profitable overall.
I’ll give you a few examples – let’s say you’re taking trades on five-minute, fifteen-minute timeframe charts and you’re making lots of, say, five and ten, maybe twenty pips, so there’s trades all the time and then you happen to have a few losing trades and you happen to lose say thirty or forty or fifty pips on a trade then the problem is when you’re trading for ‘x’ number of pips as a gain is that one or two losing trades can quickly wipe out all the gains that you had from a number of profitable trades.
Whereas if you’re looking at making ‘x’ percent per trade, let’s say you’re risking half of one percent per trade, which is what I suggest that you risk – that’s of your overall account size the half of one percent (0.5%) – If you happen to make a profitable trade, let’s say you make two-to-one return, I can then say that I’ve made a one-percent account gain by risking half a percent on my account.
Pips Really Don’t Make a Difference
And that to me is far better – it doesn’t matter whether it’s let’s say, making 25-pips with a 12-pip stop or making 100-pips with a 50-pips stop – it really doesn’t matter. It’s a two-to-one return! And that, in my opinion, is a far better way of trading because then it doesn’t matter what time frame chart you’re trading, what pair you’re trading, what time of the day, doesn’t really matter how many pips you’re making because as long as the trade’s making two or three times on average, you know, of what you’re risking, then you’re going to make some really serious money from your trading.
So, you notice that all the way through that, pips really don’t count for a great deal. So hope that helps you with your trading. If you have any more questions like that, anything you’d like me to help you with, just drop me an email –]]>http://theforextradingcoach.com/?p=5387Fri, 10 Apr 2015 00:12:30 +0000Andrew MitchemPodcast: Why chasing Pips can harm your trading   In This Video: 00:27 The Wrong Thing to Focus on in Forex Trading 01:22 An Example of a Sound Trading Strategy 02:36 Pips Really Don’t Make a Difference In today’s video I’m going to explain why...
Why chasing Pips can harm your trading
 
In This Video:
00:27 The Wrong Thing to Focus on in Forex Trading
01:22 An Example of a Sound Trading Strategy
02:36 Pips Really Don’t Make a Difference
In today’s video I’m going to explain why chasing pips in your trading can actually make you poor. So let’s talk about that and much more, right now!
Hi Forex Traders, it’s Andrew Mitchem here, the Forex Trading Coach, on holiday here in the South of France and having a fantastic time. Now, today I’m going to talk about why chasing pips as a Forex Trader can actually be to your detriment. It’s not always a good thing!
The Wrong Thing to Focus on in Forex Trading
You see a lot of people think that to make money in trading you have to make so many pips and I have people all the time coming to me and saying, “Hey Andrew, can you tell me how many pips you’re making per trade or per week or per time frame,“ whatever it might be.
And honestly, I have no idea! What I can tell you is how much I’m making in terms of monetary value and also, more importantly, a percentage. Because, if you’re making a percentage gain, it doesn’t matter what size your account is, you’re always making that same percentage gain. So for example, if you’re making, let’s say, 10% per month on a $10,000 account, there’s no reason really apart from maybe a few psychological issues why you can’t make a 10% gain on a $100,000 account or a million dollar account.
It’s purely, like I said, psychological issues of being a little bit more nervous with bigger dollar amounts but really, the actual percentage and the way that you trade, in theory, should be exactly the same.
An Example of a Sound Trading Strategy
But the problem is, most people don’t think like that! Most people think that to make profit in trading, they have to make ‘x’ number of pips. And, as I’ve explained a number of times, that to me that’s just a really bad way of trading. It’s likely not to be profitable overall.
I’ll give you a few examples – let’s say you’re taking trades on five-minute, fifteen-minute timeframe charts and you’re making lots of, say, five and ten, maybe twenty pips, so there’s trades all the time and then you happen to have a few losing trades and you happen to lose say thirty or forty or fifty pips on a trade then the problem is when you’re trading for ‘x’ number of pips as a gain is that one or two losing trades can quickly wipe out all the gains that you had from a number of profitable trades.
Whereas if you’re looking at making ‘x’ percent per trade, let’s say you’re risking half of one percent per trade, which is what I suggest that you risk – that’s of your overall account size the half of one percent (0.5%) – If you happen to make a profitable trade, let’s say you make two-to-one return, I can then say that I’ve made a one-percent account gain by risking half a percent on my account.
Pips Really Don’t Make a Difference
And that to me is far better – it doesn’t matter whether it’s let’s say, making 25-pips with a 12-pip stop or making 100-pips with a 50-pips stop – it really doesn’t matter. It’s a two-to-one return! And that, in my opinion, is a far better way of trading because then it doesn’t matter what time frame chart you’re trading, what pair you’re trading, what time of the day, doesn’t really matter how many pips you’re making because as long as the trade’s making two or three times on average, you know, of what you’re risking, then you’re going to make some really serious money from your trading.
So, you notice that all the way through that, pips really don’t count for a great deal. So hope that helps you with your trading. If you have any more questions like that, anything you’d like me to help you with, just drop me an email –]]>226falsefullhttps://www.spreaker.com/episode/achieving-a-consistent-2-account-gain-per-week--12239767
Achieving a consistent 2% account gain per week 
In this video:
00:33 Great Effort to be Trading 2% Per Week
01:21 Trading Software for Any Time Frame Charts
02:10 The Beauty of Trading
Hi traders it’s Andrew Mitchem here the owner of The Forex Trading Coach, coming from Union Square in beautiful San Francisco. I’m actually been on a helicopter flight this morning over and under the Golden Gate Bridge and if you ever get a chance to come to this beautiful city, it’s a must. An absolutely amazing trip.
So trading wise well, it’s Easter this week, it’s actually Easter Friday today and so expect the market to be flat for few days and that’s fine. That’s what happens during the public holidays and there’s plenty more days of the year to be trading.
Great Effort to be Trading 2% Per Week
Just before I left on Wednesday I held a webinar for my clients and had some fantastic news for my clients who’s been with me for only a few months and his objective and goal is to make 2% per week and it doesn’t matter if he makes it on a Monday or a Friday. Once he makes 2% he closes and he says, “I’ve been live for four weeks and I’ve made about 2% every week and made the 8% for the month of March.”
So just a fantastic effort and it’s great when people pass that information through and show you how they have done that. This particularly trader was mostly focusing on weekly charts, daily charts, 12-hour and 6-hour charts and not spending too long at computer just taking the trades, high return trades and that was it and making 2% a week and he was very, very happy with that.
Trading Software for Any Time Frame Charts
Now, I just want to let you know, I’ve got a great piece of software that I actually passed on to my clients that allows you to take trades on any time frame charts so for instance like the 6-hours and the 12-hours aren’t chart time frames that are readily available on MT4 but with this piece of software, it allows you to multiply time frames and to have those additional time frames and you can take like six and twelve minute charts if you really wanted to. But most of us prefer the longer time frame charts as it means less charts watching high return trades and more probability and likelihood of being profitable trades because generally the longer time frame the chart that you’re trading in general, the more reliable the data and the information within that time frame.
The Beauty of Trading
So that’s what I’ll be doing for the next couple of weeks while away and travelling between here and then Paris and Eastern Tokyo is looking at probably weekly charts, daily charts, 12-hour charts, maybe 6-hour charts if I get chance but still looking at making that 2, 3, or 4 percent per week while away and trading just for a total of maybe sort of 15-minutes per day.
Again it’s the beauty of trading unlike most of the jobs, you’re not giving up your time for so much per hour, and it’s the quality of your trading that’s the important thing.
So I hope that helps and look forward to talking to you this time next week where I’ll be over in France and hopefully another beautiful day luckily here in San Francisco. So once again this is Andrew Mitchem from The Forex Trading Coach trading not very much time but for some very good trades and if you’d like to join, let me know.]]>http://theforextradingcoach.com/?p=5386Fri, 03 Apr 2015 05:37:08 +0000Andrew MitchemPodcast: Achieving a consistent 2% account gain per week  In this video: 00:33 Great Effort to be Trading 2% Per Week 01:21 Trading Software for Any Time Frame Charts 02:10 The Beauty of Trading Hi traders it’s Andrew Mitchem here the owner of...
Achieving a consistent 2% account gain per week 
In this video:
00:33 Great Effort to be Trading 2% Per Week
01:21 Trading Software for Any Time Frame Charts
02:10 The Beauty of Trading
Hi traders it’s Andrew Mitchem here the owner of The Forex Trading Coach, coming from Union Square in beautiful San Francisco. I’m actually been on a helicopter flight this morning over and under the Golden Gate Bridge and if you ever get a chance to come to this beautiful city, it’s a must. An absolutely amazing trip.
So trading wise well, it’s Easter this week, it’s actually Easter Friday today and so expect the market to be flat for few days and that’s fine. That’s what happens during the public holidays and there’s plenty more days of the year to be trading.
Great Effort to be Trading 2% Per Week
Just before I left on Wednesday I held a webinar for my clients and had some fantastic news for my clients who’s been with me for only a few months and his objective and goal is to make 2% per week and it doesn’t matter if he makes it on a Monday or a Friday. Once he makes 2% he closes and he says, “I’ve been live for four weeks and I’ve made about 2% every week and made the 8% for the month of March.”
So just a fantastic effort and it’s great when people pass that information through and show you how they have done that. This particularly trader was mostly focusing on weekly charts, daily charts, 12-hour and 6-hour charts and not spending too long at computer just taking the trades, high return trades and that was it and making 2% a week and he was very, very happy with that.
Trading Software for Any Time Frame Charts
Now, I just want to let you know, I’ve got a great piece of software that I actually passed on to my clients that allows you to take trades on any time frame charts so for instance like the 6-hours and the 12-hours aren’t chart time frames that are readily available on MT4 but with this piece of software, it allows you to multiply time frames and to have those additional time frames and you can take like six and twelve minute charts if you really wanted to. But most of us prefer the longer time frame charts as it means less charts watching high return trades and more probability and likelihood of being profitable trades because generally the longer time frame the chart that you’re trading in general, the more reliable the data and the information within that time frame.
The Beauty of Trading
So that’s what I’ll be doing for the next couple of weeks while away and travelling between here and then Paris and Eastern Tokyo is looking at probably weekly charts, daily charts, 12-hour charts, maybe 6-hour charts if I get chance but still looking at making that 2, 3, or 4 percent per week while away and trading just for a total of maybe sort of 15-minutes per day.
Again it’s the beauty of trading unlike most of the jobs, you’re not giving up your time for so much per hour, and it’s the quality of your trading that’s the important thing.
So I hope that helps and look forward to talking to you this time next week where I’ll be over in France and hopefully another beautiful day luckily here in San Francisco. So once again this is Andrew Mitchem from The Forex Trading Coach trading not very much time but for some very good trades and if you’d like to join, let me know.]]>196falsefullhttps://www.spreaker.com/episode/can-the-small-trader-really-win-at-forex--12239766
Can the small trader really win at Forex?
In This Video:
00:44 Why do Small Traders feel Overwhelmed?
02:01 Small doesn’t mean Weak!
04:01 Bringing that Mindset into Trading
Can the small trader really win at Forex? Let’s discuss that and a lot more, right now!
Hi Forex traders, it’s Andrew Mitchem here.I’m the owner of The Forex Trading Coach and today is Friday, the 27th of March and I want to discuss the likelihood or the chances of you being a small trader and your probability of success as being a Forex trader.
Now, when I say a small trader I’m probably talking about most people would be under $100,000 and in reality, the vast majority of small traders out there are trading probably somewhere between about one and ten thousand US Dollars, if they are trading even live at all!
Why do Small Traders feel Overwhelmed?
And so, if you come under that category, then really, this information is designed for you because the problem that I see with most small traders is they think everything’s against them. They think the broker’s against them, they think the price of the market’s against them. You know, every time you place a buy trade the market goes down; every time you place a sell trade the market goes up!
And people seem to think that everything’s against them – the stop-loss hunting, they have lack of facilities, lack of all the other facilities and means that some of the big banks and institutions have. And you’re sat there at home, or in your office, wherever it might be on your laptop and you’re just small fry in a huge world of Forex trading.
So, people think that everything is against them whereas in reality, in my opinion, what’s against most people is they have a lack of knowledge, a lack of discipline, a lack of understanding and probably, with most people, when things go against them, they don’t stick to their plan. They become despondent, they start changing systems and strategies, looking for the next thing and that’s the problem that most small traders have – they just don’t stick to something that works for them!
Small doesn’t mean Weak!
Now, I want to share with you a story about something that I’m really passionate about and apart from trading and flying a helicopter, my other big passion is cricket! I absolutely love cricket. And so, I’m a big fan of New Zealand Cricket. Now, I need to tell you a story about New Zealand Cricket.
See, we have a very small population – four million people – we have very limited resources in terms of financial and, actually, facilities for people to play cricket. You know, not as good as, say like, England, which has millions and millions or hundreds and millions of pounds. We don’t have the population of India with 1.4 billion people – most of them absolute cricket-mad.
So, we have a lot of things against us – we’re a nation of Rugby followers and fans, with the All-Blacks.So cricket, although it’s our main summer sport, is very disadvantaged, I suppose you can say, in terms of on an international scale. Yet, the World Cup is on right now! Now, if you follow cricket you’d know this of course and New Zealand are now in the final, to play Australia this Sunday, in the final. And the thing that makes New Zealand so good right now, with their cricket, is they have a plan!
They have players in place that can implement that plan. They stick to that plan! They have done a lot of homework, a lot of knowledge, a lot of background; they have a will and a passion to win! You their belief and mindset is that they’re going to win. And they know that because of all the hard work and dedication and research and practice that’s gone into their sport and into their playing and their preparation. They’ve got raw talent, yes, but they’ve also got that mindset and that will to win.
So they’ve done all their homework.]]>http://theforextradingcoach.com/?p=5377Sun, 29 Mar 2015 22:04:39 +0000Andrew MitchemPodcast: Can the small trader really win at Forex? In This Video: 00:44 Why do Small Traders feel Overwhelmed? 02:01 Small doesn’t mean Weak! 04:01 Bringing that Mindset into Trading Can the small trader really win at Forex? Let’s discuss that...
Can the small trader really win at Forex?
In This Video:
00:44 Why do Small Traders feel Overwhelmed?
02:01 Small doesn’t mean Weak!
04:01 Bringing that Mindset into Trading
Can the small trader really win at Forex? Let’s discuss that and a lot more, right now!
Hi Forex traders, it’s Andrew Mitchem here.I’m the owner of The Forex Trading Coach and today is Friday, the 27th of March and I want to discuss the likelihood or the chances of you being a small trader and your probability of success as being a Forex trader.
Now, when I say a small trader I’m probably talking about most people would be under $100,000 and in reality, the vast majority of small traders out there are trading probably somewhere between about one and ten thousand US Dollars, if they are trading even live at all!
Why do Small Traders feel Overwhelmed?
And so, if you come under that category, then really, this information is designed for you because the problem that I see with most small traders is they think everything’s against them. They think the broker’s against them, they think the price of the market’s against them. You know, every time you place a buy trade the market goes down; every time you place a sell trade the market goes up!
And people seem to think that everything’s against them – the stop-loss hunting, they have lack of facilities, lack of all the other facilities and means that some of the big banks and institutions have. And you’re sat there at home, or in your office, wherever it might be on your laptop and you’re just small fry in a huge world of Forex trading.
So, people think that everything is against them whereas in reality, in my opinion, what’s against most people is they have a lack of knowledge, a lack of discipline, a lack of understanding and probably, with most people, when things go against them, they don’t stick to their plan. They become despondent, they start changing systems and strategies, looking for the next thing and that’s the problem that most small traders have – they just don’t stick to something that works for them!
Small doesn’t mean Weak!
Now, I want to share with you a story about something that I’m really passionate about and apart from trading and flying a helicopter, my other big passion is cricket! I absolutely love cricket. And so, I’m a big fan of New Zealand Cricket. Now, I need to tell you a story about New Zealand Cricket.
See, we have a very small population – four million people – we have very limited resources in terms of financial and, actually, facilities for people to play cricket. You know, not as good as, say like, England, which has millions and millions or hundreds and millions of pounds. We don’t have the population of India with 1.4 billion people – most of them absolute cricket-mad.
So, we have a lot of things against us – we’re a nation of Rugby followers and fans, with the All-Blacks.So cricket, although it’s our main summer sport, is very disadvantaged, I suppose you can say, in terms of on an international scale. Yet, the World Cup is on right now! Now, if you follow cricket you’d know this of course and New Zealand are now in the final, to play Australia this Sunday, in the final. And the thing that makes New Zealand so good right now, with their cricket, is they have a plan!
They have players in place that can implement that plan. They stick to that plan! They have done a lot of homework, a lot of knowledge, a lot of background; they have a will and a passion to win! You their belief and mindset is that they’re going to win. And they know that because of all the hard work and dedication and research and practice that’s gone into their sport and into their playing and their preparation. They’ve got raw talent, yes, but they’ve also got that mindset and that will to win.
So they’ve done all their homework.]]>331falsefullhttps://www.spreaker.com/episode/how-to-trade-forex-when-you-are-short-on-time--12239768
How to trade Forex when you are short on time
In This Video:
00:38 Common Misconceptions in Forex Trading
01:46 A Little goes a Long Way in Forex Trading
03:32 How my Methods have Benefited Me
I’ve got some great tips for you if you’re really short on time but want to become a profitable Forex trader.
So let’s get into that right now!
Hi traders, it’s Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday, the 20th of March and in today’s video and podcast I want to talk about how you can become a profitable trader if you’re really short on time.
Common Misconceptions in Forex Trading
And in today’s society everybody’s short on time. You know, none of us have enough time in the day to do what we want to do and the problem is, when you start out as a Forex trader, everybody thinks you have to be sitting in front of multiple charts and screens all day long, CNBC going in the background; newsfeeds coming up all over your computer, newspapers – whatever it might be and that, in reality, is not what needs to happen.
If you’re working in a brokerage or large financial institution, maybe you’ve got screens and newsfeeds going all over the place but for most of us, the benefits of trading are we can trade from anywhere, we can trade from home, a holiday, wherever it might be. And so the reality is you don’t need all of that!
And the other misconception is people think they need to be watching charts all day long, waiting for every pip of movement and they’re scared to miss a trade here or there. And again, you don’t need to do that!
A Little goes a Long Way in Forex Trading
So there are two ways that I’d like to quickly discuss how you can best trade, and successfully and profitably, if you’re short on time!
1. The first method is you pick, let’s say, one hour per day and trade. And you say, “Right, at this time I’m looking for trades, probably on the shorter time frame charts such as fifteen minutes, five minutes, even one minute charts”, if you really want to – but you’re dedicating, let’s say, one hour of time, at a certain time of the day, same time of the day if you can, each week! And you’re saying I’m looking for shorter time frame charts within this time period.
2. The other method of trading, if you’re really short on time, and this is what I do is that I much prefer to look at the longer time-frame charts and at the beginning of each week, I’ll look on the weekly charts. At the start of each day, I’ll look on the daily charts. And so my day-to-day trading over the last two weeks where I’ve been extremely busy with other projects, like learning to fly a helicopter, is I’ve been trading for no more than thirty minutes per day and I trade at 5pm New York Time and 5am New York time.
At that time, 5pm New York time, I can look at the one hour charts, the four hour, six hour, eight hour, twelve hour and daily charts. At 5am New York time, I can look at the one hour, the four hour, the six hour, the eight hour and the twelve hour charts. It takes me about fifteen minutes each time – fifteen minutes at 5am and fifteen minutes at 5pm New York time, Eastern Standard – look through the charts and, thirty minutes, done!
How my Methods have Benefited Me
That’s it! And that’s all I’ve been trading over the last couple of weeks. Last week’s video and podcast I mentioned about the results there. This week, so far in four days, I’m up 2.7%.
So you don’t need to be spending hours and hours and hours to make really good returns. I’ve got some great software that I’ve had written; that my clients all have, that allows us to trade those charts that MT4 don’t offer such as like the six hour, eight hour and twelve hour charts. But if you have the ability to trade those different time frames then, by all means, look at them!]]>http://theforextradingcoach.com/?p=5357Fri, 20 Mar 2015 00:32:08 +0000Andrew MitchemPodcast: How to trade Forex when you are short on time In This Video: 00:38 Common Misconceptions in Forex Trading 01:46 A Little goes a Long Way in Forex Trading 03:32 How my Methods have Benefited Me I’ve got some great tips for you if you’re...
How to trade Forex when you are short on time
In This Video:
00:38 Common Misconceptions in Forex Trading
01:46 A Little goes a Long Way in Forex Trading
03:32 How my Methods have Benefited Me
I’ve got some great tips for you if you’re really short on time but want to become a profitable Forex trader.
So let’s get into that right now!
Hi traders, it’s Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday, the 20th of March and in today’s video and podcast I want to talk about how you can become a profitable trader if you’re really short on time.
Common Misconceptions in Forex Trading
And in today’s society everybody’s short on time. You know, none of us have enough time in the day to do what we want to do and the problem is, when you start out as a Forex trader, everybody thinks you have to be sitting in front of multiple charts and screens all day long, CNBC going in the background; newsfeeds coming up all over your computer, newspapers – whatever it might be and that, in reality, is not what needs to happen.
If you’re working in a brokerage or large financial institution, maybe you’ve got screens and newsfeeds going all over the place but for most of us, the benefits of trading are we can trade from anywhere, we can trade from home, a holiday, wherever it might be. And so the reality is you don’t need all of that!
And the other misconception is people think they need to be watching charts all day long, waiting for every pip of movement and they’re scared to miss a trade here or there. And again, you don’t need to do that!
A Little goes a Long Way in Forex Trading
So there are two ways that I’d like to quickly discuss how you can best trade, and successfully and profitably, if you’re short on time!
1. The first method is you pick, let’s say, one hour per day and trade. And you say, “Right, at this time I’m looking for trades, probably on the shorter time frame charts such as fifteen minutes, five minutes, even one minute charts”, if you really want to – but you’re dedicating, let’s say, one hour of time, at a certain time of the day, same time of the day if you can, each week! And you’re saying I’m looking for shorter time frame charts within this time period.
2. The other method of trading, if you’re really short on time, and this is what I do is that I much prefer to look at the longer time-frame charts and at the beginning of each week, I’ll look on the weekly charts. At the start of each day, I’ll look on the daily charts. And so my day-to-day trading over the last two weeks where I’ve been extremely busy with other projects, like learning to fly a helicopter, is I’ve been trading for no more than thirty minutes per day and I trade at 5pm New York Time and 5am New York time.
At that time, 5pm New York time, I can look at the one hour charts, the four hour, six hour, eight hour, twelve hour and daily charts. At 5am New York time, I can look at the one hour, the four hour, the six hour, the eight hour and the twelve hour charts. It takes me about fifteen minutes each time – fifteen minutes at 5am and fifteen minutes at 5pm New York time, Eastern Standard – look through the charts and, thirty minutes, done!
How my Methods have Benefited Me
That’s it! And that’s all I’ve been trading over the last couple of weeks. Last week’s video and podcast I mentioned about the results there. This week, so far in four days, I’m up 2.7%.
So you don’t need to be spending hours and hours and hours to make really good returns. I’ve got some great software that I’ve had written; that my clients all have, that allows us to trade those charts that MT4 don’t offer such as like the six hour, eight hour and twelve hour charts. But if you have the ability to trade those different time frames then, by all means, look at them!]]>294falsefullhttps://www.spreaker.com/episode/when-is-the-right-time-to-join-the-party--12239769
When is the right time to join the party?
In This Video:
In This Video:
00:35 Identifying the Right Time to Trade
01:50 The Euro has made the Markets Enticing
03:01 Jumping onto the Bandwagon
As a trader you need to know when it’s the right time to join the party, so let’s talk about that and more, right now!
Hi Forex Traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Today is Friday, the 13th of March and I want to talk about the right time to join the party.
What do I mean by that?
Well, have a look at the conditions in the Forex market right now. There’re some amazing conditions and we don’t see that very often. And, from time to time, the market can go a little bit flat but right now we’re seeing some huge movements. So, it really is time to join the party!
Identifying the Right Time to Trade
Now, as a trader, you need to decide when the best time is to trade, you know, within a day to day basis, what is the best time or day to trade? When does it suit you? What time frame chart? What currency pair do you trade? Lots of different variables like that, but also the one thing you can never control is the actual current market conditions. And from time to time, we can see the market being a little bit flat. It can be up one day, down the next and those conditions are not ideal to be trading.
Of course, the shorter the time-frame you go, you’ll always find trends within the market, even though on, let’s say, the daily time-frame the market might be a little difficult to trade. If you go down to the shorter time-frames, say like five minute charts, there’ll always be trends within that but not everyone wants to sit watching that screen all day – I certainly don’t enjoy doing that.
So, what we’re ideally looking for are larger trends within the market. Now, just go take a look at your charts and you’ll also notice, if you follow my information that I post freely every day, that I’ve been calling, looking for Euro shorts, so to sell the Euro against almost all other currencies over the last three weeks.
The Euro has made the Markets Enticing
And, if you have a look on your charts, you’ll notice that the Euro against the US, which is the main Euro pair that everybody trades, is now at its lowest level since January of 2003. So, that’s over twelve years since we’ve seen a low in the Euro/US Dollar (EUR/USD) pair that’s at a price that we are, right now.
So, it’s a huge amount of movement there and we’ve seen over the last three weeks, the Euro/US Dollar (EUR/USD) move around 930 pips. We’ve seen the Euro/Yen (EUR/JPY) move about 850; we’ve seen the Euro/British Pound (EUR/GBP) move about 420, which is a lot for that pair – it’s not a very fast moving pair; we’ve seen the Euro/Canadian (EUR/CAD) move about 940; the Euro/Aussie (EUR/AUD) about 970 and the Euro/New Zealand (EUR/NZD) about 930.
So, within the last three weeks, there’ve been some amazing opportunities to short the Euro; to take sell positions on all those pairs that I’ve mentioned, whenever you see a great opportunity. And like I’ve mentioned, I’ve been talking about that – freely available on my website and on Facebook – for the last three weeks saying look at selling these Euro pairs.
Jumping onto the Bandwagon
So, as a trader, when we see conditions like this, it really is time to join the party because conditions like this don’t happen all of the time! We’re in a pretty amazing little run right now, over the last three weeks. It really is time to take advantage of that and to cash in on it because at other times of the year, you won’t see conditions quite as favourable as they are right now.
Personally, I am at four and a half percent (4.5%) for the week so far, still got all of Friday to go, on one account; and three and half percent (3.]]>http://theforextradingcoach.com/?p=5347Thu, 12 Mar 2015 22:03:14 +0000Andrew MitchemPodcast: When is the right time to join the party? In This Video: In This Video: 00:35 Identifying the Right Time to Trade 01:50 The Euro has made the Markets Enticing 03:01 Jumping onto the Bandwagon As a trader you need to know when it’s the...
When is the right time to join the party?
In This Video:
In This Video:
00:35 Identifying the Right Time to Trade
01:50 The Euro has made the Markets Enticing
03:01 Jumping onto the Bandwagon
As a trader you need to know when it’s the right time to join the party, so let’s talk about that and more, right now!
Hi Forex Traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Today is Friday, the 13th of March and I want to talk about the right time to join the party.
What do I mean by that?
Well, have a look at the conditions in the Forex market right now. There’re some amazing conditions and we don’t see that very often. And, from time to time, the market can go a little bit flat but right now we’re seeing some huge movements. So, it really is time to join the party!
Identifying the Right Time to Trade
Now, as a trader, you need to decide when the best time is to trade, you know, within a day to day basis, what is the best time or day to trade? When does it suit you? What time frame chart? What currency pair do you trade? Lots of different variables like that, but also the one thing you can never control is the actual current market conditions. And from time to time, we can see the market being a little bit flat. It can be up one day, down the next and those conditions are not ideal to be trading.
Of course, the shorter the time-frame you go, you’ll always find trends within the market, even though on, let’s say, the daily time-frame the market might be a little difficult to trade. If you go down to the shorter time-frames, say like five minute charts, there’ll always be trends within that but not everyone wants to sit watching that screen all day – I certainly don’t enjoy doing that.
So, what we’re ideally looking for are larger trends within the market. Now, just go take a look at your charts and you’ll also notice, if you follow my information that I post freely every day, that I’ve been calling, looking for Euro shorts, so to sell the Euro against almost all other currencies over the last three weeks.
The Euro has made the Markets Enticing
And, if you have a look on your charts, you’ll notice that the Euro against the US, which is the main Euro pair that everybody trades, is now at its lowest level since January of 2003. So, that’s over twelve years since we’ve seen a low in the Euro/US Dollar (EUR/USD) pair that’s at a price that we are, right now.
So, it’s a huge amount of movement there and we’ve seen over the last three weeks, the Euro/US Dollar (EUR/USD) move around 930 pips. We’ve seen the Euro/Yen (EUR/JPY) move about 850; we’ve seen the Euro/British Pound (EUR/GBP) move about 420, which is a lot for that pair – it’s not a very fast moving pair; we’ve seen the Euro/Canadian (EUR/CAD) move about 940; the Euro/Aussie (EUR/AUD) about 970 and the Euro/New Zealand (EUR/NZD) about 930.
So, within the last three weeks, there’ve been some amazing opportunities to short the Euro; to take sell positions on all those pairs that I’ve mentioned, whenever you see a great opportunity. And like I’ve mentioned, I’ve been talking about that – freely available on my website and on Facebook – for the last three weeks saying look at selling these Euro pairs.
Jumping onto the Bandwagon
So, as a trader, when we see conditions like this, it really is time to join the party because conditions like this don’t happen all of the time! We’re in a pretty amazing little run right now, over the last three weeks. It really is time to take advantage of that and to cash in on it because at other times of the year, you won’t see conditions quite as favourable as they are right now.
Personally, I am at four and a half percent (4.5%) for the week so far, still got all of Friday to go, on one account; and three and half percent (3.]]>278falsefullhttps://www.spreaker.com/episode/where-you-should-place-your-stop-loss-and-why--12239770
Where You Should Place Your Stop-Loss, and Why
In This Video:
00:20 A Question on Stop Losses
01:29 Connecting your Stop Loss to Market Conditions
02:48 Standardise your Approach, not your Stop Loss
04:52 The Markets this Week
I want to talk about where you should place your stop-loss, and why. So let’s talk about that and some more great trading information right now!
Hi Forex Traders, this is Andrew Mitchem here, the Forex Trading Coach and today is Friday, the 6th of March and I want to talk about where you should place your stop loss and why!
A Question on Stop Losses
The reason for that topic is that I’ve had an email here from Wackyl – I hope I pronounced that right – and the question is, “Would you please tell us about the placing of our stop-losses. I know that most people do it wrong. I’m not sure that the way I am doing it is right!”
So that’s the question that’s come through and really, when you think about stop loss, what is it? Well, we know it protects the trade but when you think about it, a stop loss should be placed at a level that means that if the trade that you take goes wrong, goes against you, then it’s no longer valid. So, what that means is that you need to look at your charts, in terms of placing your stop loss.
The problem is that most people just place a random, or not so much a random but a set level at random places. So, what I mean by that is people were to say, they’ve placed a stop-loss at 20-pips. Why 20-pips? Who knows! That’s what the Internet or someone tells them they need to place their stop loss at 20-pips or 50-pips or whatever it might be. It’s generally something ending in a zero and that’s the way that most people trade.
Connecting your Stop Loss to Market Conditions
Now, when you think about the logic behind that, what relevance does that have to the trade setup? What relevance does it have to the current price? What relevance does it have even to the time frame of the chart or even in the pair that you’re trading?
You see, if you’re trading on the Euro/New Zealand (EUR/NZD), for example, the movement in that is massive in comparison with a pair such as the Euro/British Pound (EUR/GBP). So, if you took a 20-pip stop loss on the Euro/Pound, that’s a reasonably big stop-loss for that particular pair because it doesn’t move much. However, if you put a stop loss at 20-pips on the Euro/New Zealand (EUR/NZD), that’s like the spread plus a small movement and it’s wiped you out of the trade.
So, you need to understand what time-frame chart you’re trading, what currency pair you’re trading; the reasons you’ve taken the trade; why did you take the trade? Look for things within placing your stop loss – things such as the price itself – what level is the price at? What’s the actual number of the price? When you’ve taken the trade, where do you want that stop loss to be? Not just 20-pips but I want to have it protected, let’s say if I’m buying a trade, I want it below the last swing-low or I want it below the pivot point or a previous support and resistance level or a round number or the candle-setup low – if you’re taking a buy trade.
Standardise your Approach, not your Stop Loss
So, think about your stop loss not in terms of “It’s always going to be 20-pips or it’s always going to be 50-pips”, but for this particular trade and this particular setup, on this pair and on this timeframe, it needs to be here! And, from there you then work out your position size!
So, once you understand the pair that you’re trading, the stop loss amount – you can then calculate your position size or your lot size – and I’ve got a great free tool available on my site, if you don’t know how to do that. And what that allows you to do is to control your risk. So, every trade has an equal risk on it – so,]]>http://theforextradingcoach.com/?p=5336Thu, 05 Mar 2015 21:57:12 +0000Andrew MitchemPodcast: Where You Should Place Your Stop-Loss, and Why In This Video: 00:20 A Question on Stop Losses 01:29 Connecting your Stop Loss to Market Conditions 02:48 Standardise your Approach, not your Stop Loss 04:52 The Markets this Week I want to...
Where You Should Place Your Stop-Loss, and Why
In This Video:
00:20 A Question on Stop Losses
01:29 Connecting your Stop Loss to Market Conditions
02:48 Standardise your Approach, not your Stop Loss
04:52 The Markets this Week
I want to talk about where you should place your stop-loss, and why. So let’s talk about that and some more great trading information right now!
Hi Forex Traders, this is Andrew Mitchem here, the Forex Trading Coach and today is Friday, the 6th of March and I want to talk about where you should place your stop loss and why!
A Question on Stop Losses
The reason for that topic is that I’ve had an email here from Wackyl – I hope I pronounced that right – and the question is, “Would you please tell us about the placing of our stop-losses. I know that most people do it wrong. I’m not sure that the way I am doing it is right!”
So that’s the question that’s come through and really, when you think about stop loss, what is it? Well, we know it protects the trade but when you think about it, a stop loss should be placed at a level that means that if the trade that you take goes wrong, goes against you, then it’s no longer valid. So, what that means is that you need to look at your charts, in terms of placing your stop loss.
The problem is that most people just place a random, or not so much a random but a set level at random places. So, what I mean by that is people were to say, they’ve placed a stop-loss at 20-pips. Why 20-pips? Who knows! That’s what the Internet or someone tells them they need to place their stop loss at 20-pips or 50-pips or whatever it might be. It’s generally something ending in a zero and that’s the way that most people trade.
Connecting your Stop Loss to Market Conditions
Now, when you think about the logic behind that, what relevance does that have to the trade setup? What relevance does it have to the current price? What relevance does it have even to the time frame of the chart or even in the pair that you’re trading?
You see, if you’re trading on the Euro/New Zealand (EUR/NZD), for example, the movement in that is massive in comparison with a pair such as the Euro/British Pound (EUR/GBP). So, if you took a 20-pip stop loss on the Euro/Pound, that’s a reasonably big stop-loss for that particular pair because it doesn’t move much. However, if you put a stop loss at 20-pips on the Euro/New Zealand (EUR/NZD), that’s like the spread plus a small movement and it’s wiped you out of the trade.
So, you need to understand what time-frame chart you’re trading, what currency pair you’re trading; the reasons you’ve taken the trade; why did you take the trade? Look for things within placing your stop loss – things such as the price itself – what level is the price at? What’s the actual number of the price? When you’ve taken the trade, where do you want that stop loss to be? Not just 20-pips but I want to have it protected, let’s say if I’m buying a trade, I want it below the last swing-low or I want it below the pivot point or a previous support and resistance level or a round number or the candle-setup low – if you’re taking a buy trade.
Standardise your Approach, not your Stop Loss
So, think about your stop loss not in terms of “It’s always going to be 20-pips or it’s always going to be 50-pips”, but for this particular trade and this particular setup, on this pair and on this timeframe, it needs to be here! And, from there you then work out your position size!
So, once you understand the pair that you’re trading, the stop loss amount – you can then calculate your position size or your lot size – and I’ve got a great free tool available on my site, if you don’t know how to do that. And what that allows you to do is to control your risk. So, every trade has an equal risk on it – so,]]>397falsefullhttps://www.spreaker.com/episode/take-charge-of-your-financial-future--12239771
Take Charge of your Financial Future
In This Video:
00:39 How Secure is your Financial Future?
02:26 Trading Gives you Unbridled Control
03:43 The Forex Week that Was
Do you want to put the trust of your financial future into someone else’s hands or do you need to take control of your financial future yourself?
Let’s talk about that and lots more, right now!
Hi Forex Traders, it’s Andrew Mitchem here. I’m the owner of the Forex Trading Coach and today is Friday, the 27th of February. I want to talk about your financial future because it’s really important and it’s the aim and the topic of this webinar/podcast – It’s just to highlight a few of the risks, I suppose, of giving away the control of your financial future.
How Secure is your Financial Future?
I’ve got a great example here, I’ve printed it out – I’ve got a copy open on the screen behind me here and it’s from the New Zealand Herald, which is the local national newspaper here in New Zealand. And the headline is – New Zealand Super Fund, which is like a retirement pension fund, loses $200million after a risk-free loan to a Portuguese bank. Now, this was a headline this week!
I just wanted to read the first line – “Almost $200million of tax-payer money invested in a Kiwi super annuation fund has been lost after a Portuguese bank, where the money was supposedly in a risk-free loan, collapsed.” Now, that’s a huge amount of money – it’s tax payer’s money – it’s something that a lot of people have to contribute to through their wages, into like a national retirement fund and that 200million’s been lost in supposedly a risk-free venture there.
So, the question becomes, if you give up your control of your financial future to someone else – whether it’s another company, whether it’s a property investment company; any sort of financial investment that you’re handing control over to someone else – what can you do about that when things go wrong?
A lot of people do hand money over, or in terms of the government super annuation funds like the one over here in New Zealand, it’s not so much voluntary – you have to contribute towards those funds and then you find that huge errors occur. The fees keep continuing, don’t they? You notice the fees never stop, yet the performance is never related to the fees in a lot of cases. And, one of the things, I suppose, when it comes back to trading is “I’m in control!”
Trading Gives you Unbridled Control
Whether I make good trades or bad trades, profitable trades or not profitable trades – that’s purely up to me! So it’s up to me to understand what I am doing; having the education or the knowledge within trading. But, the good thing is, once you have that education and that knowledge, and you know what you are doing, the returns that you can make for yourself are often substantially greater than most other ways of generating income or generating a return on an investment.
So it really does make you, sort of, question really what are you doing about your future? Are you someone who just likes to hand control over and let someone else manage that or put it in a bank and then it’s almost nothing, like we’ve talked about in many of the recent podcasts – or do you want to take control yourself and really that’s where, I suppose, as a Forex coach, I can help you with that.
Because, Forex offers so many of the great benefits that we’ve all come to know and see. So yeah, just wanted to point that out and just to get you thinking yourself – you know, what are you doing about your future? Your financial future! If you want to take control then do something about it.
The Forex Week that Was
On the markets this week – well, we’ve seen the British Pound (GBP), we’ve seen the New Zealand Dollar (NZD) and the Australian Dollar (AUS) rise,]]>http://theforextradingcoach.com/?p=5321Thu, 26 Feb 2015 22:27:35 +0000Andrew MitchemPodcast: Take Charge of your Financial Future In This Video: 00:39 How Secure is your Financial Future? 02:26 Trading Gives you Unbridled Control 03:43 The Forex Week that Was Do you want to put the trust of your financial future into someone...
Take Charge of your Financial Future
In This Video:
00:39 How Secure is your Financial Future?
02:26 Trading Gives you Unbridled Control
03:43 The Forex Week that Was
Do you want to put the trust of your financial future into someone else’s hands or do you need to take control of your financial future yourself?
Let’s talk about that and lots more, right now!
Hi Forex Traders, it’s Andrew Mitchem here. I’m the owner of the Forex Trading Coach and today is Friday, the 27th of February. I want to talk about your financial future because it’s really important and it’s the aim and the topic of this webinar/podcast – It’s just to highlight a few of the risks, I suppose, of giving away the control of your financial future.
How Secure is your Financial Future?
I’ve got a great example here, I’ve printed it out – I’ve got a copy open on the screen behind me here and it’s from the New Zealand Herald, which is the local national newspaper here in New Zealand. And the headline is – New Zealand Super Fund, which is like a retirement pension fund, loses $200million after a risk-free loan to a Portuguese bank. Now, this was a headline this week!
I just wanted to read the first line – “Almost $200million of tax-payer money invested in a Kiwi super annuation fund has been lost after a Portuguese bank, where the money was supposedly in a risk-free loan, collapsed.” Now, that’s a huge amount of money – it’s tax payer’s money – it’s something that a lot of people have to contribute to through their wages, into like a national retirement fund and that 200million’s been lost in supposedly a risk-free venture there.
So, the question becomes, if you give up your control of your financial future to someone else – whether it’s another company, whether it’s a property investment company; any sort of financial investment that you’re handing control over to someone else – what can you do about that when things go wrong?
A lot of people do hand money over, or in terms of the government super annuation funds like the one over here in New Zealand, it’s not so much voluntary – you have to contribute towards those funds and then you find that huge errors occur. The fees keep continuing, don’t they? You notice the fees never stop, yet the performance is never related to the fees in a lot of cases. And, one of the things, I suppose, when it comes back to trading is “I’m in control!”
Trading Gives you Unbridled Control
Whether I make good trades or bad trades, profitable trades or not profitable trades – that’s purely up to me! So it’s up to me to understand what I am doing; having the education or the knowledge within trading. But, the good thing is, once you have that education and that knowledge, and you know what you are doing, the returns that you can make for yourself are often substantially greater than most other ways of generating income or generating a return on an investment.
So it really does make you, sort of, question really what are you doing about your future? Are you someone who just likes to hand control over and let someone else manage that or put it in a bank and then it’s almost nothing, like we’ve talked about in many of the recent podcasts – or do you want to take control yourself and really that’s where, I suppose, as a Forex coach, I can help you with that.
Because, Forex offers so many of the great benefits that we’ve all come to know and see. So yeah, just wanted to point that out and just to get you thinking yourself – you know, what are you doing about your future? Your financial future! If you want to take control then do something about it.
The Forex Week that Was
On the markets this week – well, we’ve seen the British Pound (GBP), we’ve seen the New Zealand Dollar (NZD) and the Australian Dollar (AUS) rise,]]>336falsefullhttps://www.spreaker.com/episode/when-trading-forex-account-size-does-not-matter--12239772
When Trading Forex, Account Size does not Matter
 
In This Video:
00:54 A Popular Misconception with Account Sizes
02:34 An Amazingly Versatile Calculator
03:48 Why the Lot Calculator Makes a Difference
Did you know that if you wish to trade the longer time frame charts, you don’t need to have a large account size in order to do that?
So let’s talk about that and more, right now!
G’day Forex traders, it’s Andrew Mitchem here, I’m the Forex Trading Coach, and today it’s Friday, the 20th of February and I want to read out an email that I’ve had here from Taminash, who’s written to me and said:
“You’ve mentioned that you risk about half of one percent on your account when taking most of your trades and trades are between one and a half and about three risk-to-reward return.
So, my question is how big a size account do I need to start trading Forex if I wish to make a living out of it.
One trade you showed has a stop-loss of 62 pips, which means the account size should be about a $120,000 if you are risking half or one percent on your account.” – That’s the email!
A Popular Misconception with Account Sizes
That’s actually incorrect! You see a lot of people have the perception or the thought that you need to have large bank account size because you’re trading longer time frame charts that have bigger pips, as stop losses. And it’s completely false and unfortunately, when people start thinking about the number of pips that they’re making or the number of pips they’re risking, they think that I can’t risk 62, as in that example on the email, or 162 because it means that if I get stopped out, I’m going to lose too big a percentage on my account.
It’s just something that’s just, you need to change your thinking and your mindset and understanding of money management or risk in order to completely change around what most people tell you on the Internet because chasing pips and trading for pips, to me, just isn’t the way to go!
Using my Lot Calculator to Help Plan Trades
So, if you think of it this way, well first of all, make sure you get my Lot Size Calculator – it’s freely available on my website – just get yourself a copy and it will help explain and all the information I’m about to share. Plus, it will allow you to trade really easily and accurately. So, the way that I like to trade is regardless of the currency pair that I am trading, regardless of the direction, regardless of the time-frame of the charts, and regardless of the pips, as in the stop-loss amount, every trade has equal risk. So, for me it’s half of one percent – for you it might be one percent or a quarter or whatever it might be – whatever suits you as a risk tolerance, ensure that every trade has the same risk.
So how do you go about doing that because I can already see and think of a lot of people saying, “How do I do that?”
An Amazingly Versatile Calculator
Well, all you need to do is you change the position size, the lot size, that you place on a trade according to the trade that you’re taking, and its stop-loss and its currency pair. So, there is a mathematical equation in order to do that but the Lot Size Calculator that I have freely available for you to use and download, does that all for you!
It recognizes the denomination of your accounts, whether you are trading in US Dollars (USD) or British Pounds (GBP) or New Zealand Dollars (NZD), whatever it is. It notes the account size that you have on your balance at the time. It knows the chart that you are trading because you are dragging a script, an MT4 script onto a chart so it knows the payout that you get paid per pip for that particular pair, because of course all pairs vary, and you then enter the risk tolerance, set a default half of one percent (0.5%).
The only thing that you actually need to enter is th...]]>http://theforextradingcoach.com/?p=5307Fri, 20 Feb 2015 03:06:04 +0000Andrew MitchemPodcast: When Trading Forex, Account Size does not Matter   In This Video: 00:54 A Popular Misconception with Account Sizes 02:34 An Amazingly Versatile Calculator 03:48 Why the Lot Calculator Makes a Difference Did you know that if you wish to...
When Trading Forex, Account Size does not Matter
 
In This Video:
00:54 A Popular Misconception with Account Sizes
02:34 An Amazingly Versatile Calculator
03:48 Why the Lot Calculator Makes a Difference
Did you know that if you wish to trade the longer time frame charts, you don’t need to have a large account size in order to do that?
So let’s talk about that and more, right now!
G’day Forex traders, it’s Andrew Mitchem here, I’m the Forex Trading Coach, and today it’s Friday, the 20th of February and I want to read out an email that I’ve had here from Taminash, who’s written to me and said:
“You’ve mentioned that you risk about half of one percent on your account when taking most of your trades and trades are between one and a half and about three risk-to-reward return.
So, my question is how big a size account do I need to start trading Forex if I wish to make a living out of it.
One trade you showed has a stop-loss of 62 pips, which means the account size should be about a $120,000 if you are risking half or one percent on your account.” – That’s the email!
A Popular Misconception with Account Sizes
That’s actually incorrect! You see a lot of people have the perception or the thought that you need to have large bank account size because you’re trading longer time frame charts that have bigger pips, as stop losses. And it’s completely false and unfortunately, when people start thinking about the number of pips that they’re making or the number of pips they’re risking, they think that I can’t risk 62, as in that example on the email, or 162 because it means that if I get stopped out, I’m going to lose too big a percentage on my account.
It’s just something that’s just, you need to change your thinking and your mindset and understanding of money management or risk in order to completely change around what most people tell you on the Internet because chasing pips and trading for pips, to me, just isn’t the way to go!
Using my Lot Calculator to Help Plan Trades
So, if you think of it this way, well first of all, make sure you get my Lot Size Calculator – it’s freely available on my website – just get yourself a copy and it will help explain and all the information I’m about to share. Plus, it will allow you to trade really easily and accurately. So, the way that I like to trade is regardless of the currency pair that I am trading, regardless of the direction, regardless of the time-frame of the charts, and regardless of the pips, as in the stop-loss amount, every trade has equal risk. So, for me it’s half of one percent – for you it might be one percent or a quarter or whatever it might be – whatever suits you as a risk tolerance, ensure that every trade has the same risk.
So how do you go about doing that because I can already see and think of a lot of people saying, “How do I do that?”
An Amazingly Versatile Calculator
Well, all you need to do is you change the position size, the lot size, that you place on a trade according to the trade that you’re taking, and its stop-loss and its currency pair. So, there is a mathematical equation in order to do that but the Lot Size Calculator that I have freely available for you to use and download, does that all for you!
It recognizes the denomination of your accounts, whether you are trading in US Dollars (USD) or British Pounds (GBP) or New Zealand Dollars (NZD), whatever it is. It notes the account size that you have on your balance at the time. It knows the chart that you are trading because you are dragging a script, an MT4 script onto a chart so it knows the payout that you get paid per pip for that particular pair, because of course all pairs vary, and you then enter the risk tolerance, set a default half of one percent (0.5%).
The only thing that you actually need to enter is th...]]>527falsefullhttps://www.spreaker.com/episode/graft-and-dedication-fetches-great-returns--12239773Forex Trading – Graft and Dedication Fetches Great Returns!

 
In This Video:
00:22 Getting Started in the World of Forex Trading
02:08 There’s no Such Thing as Easy Money
03:16 A Peek at my Last Webinar – Great Trades Galore!
05:25 Forex Trading versus Money in Savings Accounts
 
If you want to be a good trader then you really do need to put the effort in up front in order to succeed, so let’s talk about that in this video, right now!
Hi traders, it’s Andrew Mitchem here, the owner of The Forex Trading Coach, and today is Friday, the 13th, so hope that’s not a bad omen for you.
 
Getting Started in the World of Forex Trading
In today’s video, I want to talk about why, as Forex Traders, you need to put some effort in up front, especially. You know, ongoing effort of course, but especially if you are new to trading or your learning a new system, you definitely need to put the time in and the commitment up front because like everything that’s good, it doesn’t come easy and there’s so many people that tell you, out there, how easy Forex is to trade and how you can become a multi-millionaire and double your money every month. You know, that’s rubbish!
You cannot do that without effort and commitment and dedication to your trading. But I can definitely tell you that if you put those in, and some time and some effort and commitment, and go through the good times and the bad times, then there’s nothing that beats it!
As you can see, behind me here, I am back here at home in New Zealand. I’ve spent almost two weeks over in the UK, and its winter time over there or being a commuter over there is just not fun, in my opinion. There’s a lot of people there that just don’t look happy. You know the, sort of, mundane getting on a train, getting on a tube, working in a high rise – it’s great if that’s what you like but for me, personally, it just really highlights how lucky we are in some ways, to be Forex traders. But then, I think about it and I think, luck’s maybe not the word to use because if you’re out there being a successful trader then it didn’t just happen by accident. It took work and effort and commitment!
So, I look at it and think well, yeah that hard work pays off but, you know, like anything, it’s not easy but there’s definitely a way there to make trading work for you.
 
There’s no Such Thing as Easy Money
Just also need to tell you a quick story about, actually, a client. I won’t name names for obvious reasons but he’s come to me after about one month of being through my course and said, “Look, I have to be making 10 to 15% per month, you know, I just have to!” And I’ve said to him, look you know, that’s realistically not going to happen, to start with. Yes, sure, after several months or half a year or so that may happen but don’t expect to be making huge amounts of money to start with. You know, you should probably take a month or two, at least, on a demo and prove to yourself that any new strategy or system, whatever it is – whether it’s mine or anybody else’s – you’re able to work that and trade profitably from that.
So, I think it’s quite dangerous that people jump onto a new system or strategy and after a month or so, whether they are making money or not, they’re expecting to make ridiculous amounts of money so early and realistically, that’s likely not to happen. So, again, it comes back to the same thing – the whole theme of this video and podcast is that dedication and put the effort in.
 
A Peek at my Last Webinar – Great Trades Galore!
On the flipside of that, I held a webinar last night for my clients and I’ve had another client who has been with me since last July and so, around, seven months or so now and he’s doing extremely well and he mentioned a trade that he took on the G...]]>http://theforextradingcoach.com/?p=5285Thu, 12 Feb 2015 22:20:32 +0000Andrew MitchemPodcast: Forex Trading – Graft and Dedication Fetches Great Returns!   In This Video: 00:22 Getting Started in the World of Forex Trading 02:08 There’s no Such Thing as Easy Money 03:16 A Peek at my Last Webinar – Great Trades Galore! 05:25 Forex...Forex Trading – Graft and Dedication Fetches Great Returns!

 
In This Video:
00:22 Getting Started in the World of Forex Trading
02:08 There’s no Such Thing as Easy Money
03:16 A Peek at my Last Webinar – Great Trades Galore!
05:25 Forex Trading versus Money in Savings Accounts
 
If you want to be a good trader then you really do need to put the effort in up front in order to succeed, so let’s talk about that in this video, right now!
Hi traders, it’s Andrew Mitchem here, the owner of The Forex Trading Coach, and today is Friday, the 13th, so hope that’s not a bad omen for you.
 
Getting Started in the World of Forex Trading
In today’s video, I want to talk about why, as Forex Traders, you need to put some effort in up front, especially. You know, ongoing effort of course, but especially if you are new to trading or your learning a new system, you definitely need to put the time in and the commitment up front because like everything that’s good, it doesn’t come easy and there’s so many people that tell you, out there, how easy Forex is to trade and how you can become a multi-millionaire and double your money every month. You know, that’s rubbish!
You cannot do that without effort and commitment and dedication to your trading. But I can definitely tell you that if you put those in, and some time and some effort and commitment, and go through the good times and the bad times, then there’s nothing that beats it!
As you can see, behind me here, I am back here at home in New Zealand. I’ve spent almost two weeks over in the UK, and its winter time over there or being a commuter over there is just not fun, in my opinion. There’s a lot of people there that just don’t look happy. You know the, sort of, mundane getting on a train, getting on a tube, working in a high rise – it’s great if that’s what you like but for me, personally, it just really highlights how lucky we are in some ways, to be Forex traders. But then, I think about it and I think, luck’s maybe not the word to use because if you’re out there being a successful trader then it didn’t just happen by accident. It took work and effort and commitment!
So, I look at it and think well, yeah that hard work pays off but, you know, like anything, it’s not easy but there’s definitely a way there to make trading work for you.
 
There’s no Such Thing as Easy Money
Just also need to tell you a quick story about, actually, a client. I won’t name names for obvious reasons but he’s come to me after about one month of being through my course and said, “Look, I have to be making 10 to 15% per month, you know, I just have to!” And I’ve said to him, look you know, that’s realistically not going to happen, to start with. Yes, sure, after several months or half a year or so that may happen but don’t expect to be making huge amounts of money to start with. You know, you should probably take a month or two, at least, on a demo and prove to yourself that any new strategy or system, whatever it is – whether it’s mine or anybody else’s – you’re able to work that and trade profitably from that.
So, I think it’s quite dangerous that people jump onto a new system or strategy and after a month or so, whether they are making money or not, they’re expecting to make ridiculous amounts of money so early and realistically, that’s likely not to happen. So, again, it comes back to the same thing – the whole theme of this video and podcast is that dedication and put the effort in.
 
A Peek at my Last Webinar – Great Trades Galore!
On the flipside of that, I held a webinar last night for my clients and I’ve had another client who has been with me since last July and so, around, seven months or so now and he’s doing extremely well and he mentioned a trade that he took on the G...]]>446falsefullhttps://www.spreaker.com/episode/technical-trading-or-fundamental-trading-what-works-for-you--12239774Technical Trading or Fundamental Trading – What works for you?
In This Video:
00:40 How Technical Trading has Benefited Me
01:49 Technical Trading gets Another Bonus Point
02:56 No Profitable Fundamental Traders found
The debate continues here in London regarding the benefits of either being a technical trader or a fundamental trader.
So let me explain exactly what I have been up to right now.
Hi traders, it’s Andrew Mitchem here, the Forex Trading Coach. I’m here in London at the last day of the second conference that I’ve been to and just had a really exciting week here. Met a lot of fantastic people, a lot of traders and a lot of people within the industry and, it’s just been really interesting to see the difference between talking to the people who are pro-fundamentals in trading and the other people, like myself, who are more into technical trading.
How Technical Trading has Benefited Me
 
And, I just wanted to run through, with you, a few trades that I’ve taken and why I strongly believe that the technical’s definitely the way to go. Last week, on the video, I mentioned about a trade on the weekly chart that I mentioned about the Aussie/US Dollar (AUS/USD). Well, that fell and took my profit target out and made about 380 pips – exactly a four to one return on that trade, so in other words, risking half or one percent, making two percent.
It took about seven or eight trading days to get there! The interesting thing is that it actually hit the full profit target on the release of the Australian interest rate drop. And so, I suppose, you could say the fundamentals dropped the Aussie down a touch further with that interest rate drop. But for me, as a technical trader, the charts were screaming out, were strongly suggesting, sell the Aussie-US and that was, you know, ten days prior to that announcement.
And, like I said, I actually mentioned that specific trade to my clients and I mentioned it last week on the video saying it was still open – it’s now gone and hit the full profit target.
Technical Trading gets Another Bonus Point
 
Well, I’ve been away personally, I’ve only been trading the daily charts. I haven’t really had time to trade anything, sort of, more shorter time than that but I’ve had trades here on the New Zealand Dollar/US Dollar (NZD/USD), a short on that, and that’s made a two-to-one trade. Also took a short position on the New Zealand/Yen (NZD/JPY), and again, all mentioned to my clients, made three to one. The other interesting thing is, yesterday we had the New Zealand Dollar (NZD), the unemployment rate increased. It was worse for the economy. Yet, the New Zealand Dollar has strength and quite considerably from the big fall it’s been in.
Those two trades I mentioned – the New Zealand/US (NZD/USD) and New Zealand/Yen (NZD/JPY) – they were taken at the end of last week, on the dailies. They’ve hit profit – down at the target that I was aiming for. But now, after the trades are out, they’ve now sort of turned around and the New Zealand Dollar’s now, as I speak, it’s climbing up quite strongly. But that’s against the fundamental announcement of an increase in the unemployment rate, which of course is bad for the economy.
No Show by Fundamental Trading Profits
 
And so, again to me, it’s the fundamentals are fine to have a concept of and to know what’s coming. But the technicals, the charts, they show me what’s happening far in advance or the likely outcome, far in advance, and so to me, as a technical trader, I can only look at the charts and trade what I see on them and not what I think is going to be the news announcement.
So, as I said, at these shows, it’s been really interesting. I’ve not yet met someone here at this show, and the previous one,]]>http://theforextradingcoach.com/?p=5273Fri, 06 Feb 2015 02:45:49 +0000Andrew MitchemPodcast: Technical Trading or Fundamental Trading – What works for you? In This Video: 00:40 How Technical Trading has Benefited Me 01:49 Technical Trading gets Another Bonus Point 02:56 No Profitable Fundamental Traders found The debate continues...Technical Trading or Fundamental Trading – What works for you?
In This Video:
00:40 How Technical Trading has Benefited Me
01:49 Technical Trading gets Another Bonus Point
02:56 No Profitable Fundamental Traders found
The debate continues here in London regarding the benefits of either being a technical trader or a fundamental trader.
So let me explain exactly what I have been up to right now.
Hi traders, it’s Andrew Mitchem here, the Forex Trading Coach. I’m here in London at the last day of the second conference that I’ve been to and just had a really exciting week here. Met a lot of fantastic people, a lot of traders and a lot of people within the industry and, it’s just been really interesting to see the difference between talking to the people who are pro-fundamentals in trading and the other people, like myself, who are more into technical trading.
How Technical Trading has Benefited Me
 
And, I just wanted to run through, with you, a few trades that I’ve taken and why I strongly believe that the technical’s definitely the way to go. Last week, on the video, I mentioned about a trade on the weekly chart that I mentioned about the Aussie/US Dollar (AUS/USD). Well, that fell and took my profit target out and made about 380 pips – exactly a four to one return on that trade, so in other words, risking half or one percent, making two percent.
It took about seven or eight trading days to get there! The interesting thing is that it actually hit the full profit target on the release of the Australian interest rate drop. And so, I suppose, you could say the fundamentals dropped the Aussie down a touch further with that interest rate drop. But for me, as a technical trader, the charts were screaming out, were strongly suggesting, sell the Aussie-US and that was, you know, ten days prior to that announcement.
And, like I said, I actually mentioned that specific trade to my clients and I mentioned it last week on the video saying it was still open – it’s now gone and hit the full profit target.
Technical Trading gets Another Bonus Point
 
Well, I’ve been away personally, I’ve only been trading the daily charts. I haven’t really had time to trade anything, sort of, more shorter time than that but I’ve had trades here on the New Zealand Dollar/US Dollar (NZD/USD), a short on that, and that’s made a two-to-one trade. Also took a short position on the New Zealand/Yen (NZD/JPY), and again, all mentioned to my clients, made three to one. The other interesting thing is, yesterday we had the New Zealand Dollar (NZD), the unemployment rate increased. It was worse for the economy. Yet, the New Zealand Dollar has strength and quite considerably from the big fall it’s been in.
Those two trades I mentioned – the New Zealand/US (NZD/USD) and New Zealand/Yen (NZD/JPY) – they were taken at the end of last week, on the dailies. They’ve hit profit – down at the target that I was aiming for. But now, after the trades are out, they’ve now sort of turned around and the New Zealand Dollar’s now, as I speak, it’s climbing up quite strongly. But that’s against the fundamental announcement of an increase in the unemployment rate, which of course is bad for the economy.
No Show by Fundamental Trading Profits
 
And so, again to me, it’s the fundamentals are fine to have a concept of and to know what’s coming. But the technicals, the charts, they show me what’s happening far in advance or the likely outcome, far in advance, and so to me, as a technical trader, I can only look at the charts and trade what I see on them and not what I think is going to be the news announcement.
So, as I said, at these shows, it’s been really interesting. I’ve not yet met someone here at this show, and the previous one,]]>297falsefullhttps://www.spreaker.com/episode/update-on-the-forex-markets-from-london-england--12239775Update on the Forex Markets from London, England
 
In This Video:
01:09 Update on the Forex Markets
01:57 Trading on the Fly, Literally
Hi, well I’m coming to you with a “selfie” from London for this week.
Let’s talk about what’s happened in the currency markets and what I am doing over on this side of the world, so let’s get into that right now!
Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 30th of January, and I’m over here in London, as you can tell, the Big Ben up there behind me and Westminster Abbey over here; and I’m here for a trading conference that’s on Saturday, Sunday, Monday and Tuesday, this week. So, been on the 29-hour flight over from New Zealand over to London, and certainly a lot colder over here, being winter-time!
Really looking forward to catching up with a lot of people at the conference, at the weekend! There’s a lot of new products being launched to do with trading, in general, and, of course, the Forex market and here to catch up with some brokers as well and really find out what are the better brokers around so I can, then, pass that information on to you guys and my clients and everybody who follows me.
Update on the Forex Markets
In the markets this week, well, the Australian Dollar’s (AUD) continued to fall further. I actually recommended a sell-trade on the Aussie/US Dollar (AUD/USD) on the weekly chart, to my clients on Monday, before I left New Zealand. And that was a retracement order and it retraced absolutely perfectly. It went no more than five pips negative and when I’ve looked at my charts, just about an hour ago, that trade was up about three and a half to one (3 ½ – 1) risk-to-reward trade and still not hit full profit but going really, really well.
And, the New Zealand Dollar (NZD) has also fallen a lot this week and the US/Canadian (USD/CAD) has continued to rise. Of course, the Euro (EUR) continues to fall and the British Pound (GBP) has also fallen with some strength there in the US Dollar (USD).
Trading on the Fly, Literally
As I’ve mentioned so many times before, that the beauty of trading is that you can trade longer time-frame charts. All I’ve traded this week, myself, is the daily charts and weekly charts, as I’ve had quite a lot of travel to do this week, obviously.
But you can still make some great money – so far, this week. I’m still up around three percent (3%) for the week and I’ve spent most of the week on an airplane and now, so finally, on the other side of the world. So, yet again, another benefit of the wonderful market that is the Forex market and how you can travel, trade and not glued to the screen all day and not glued to a 9 to 5 job.
So, I’m off to meet some people now and get ready for the conference I’m going to, so I look forward to bringing you really good and useful information that can help you with your trading, this time next week, once I’ve attended that conference and been through that and picked up some more ideas and some more opportunities for all of us.
So, that’s it from London and the “selfie” video. I’ll still record another video from here next week, just before I leave. But that’s it for now – this is Andrew Mitchem from The Forex Trading Coach saying goodbye from a rather chilly and cold London.
Bye for now!]]>http://theforextradingcoach.com/?p=5266Wed, 04 Feb 2015 06:45:24 +0000Andrew MitchemPodcast: Update on the Forex Markets from London, England   In This Video: 01:09 Update on the Forex Markets 01:57 Trading on the Fly, Literally Hi, well I’m coming to you with a “selfie” from London for this week. Let’s talk about what’s happened in...Update on the Forex Markets from London, England
 
In This Video:
01:09 Update on the Forex Markets
01:57 Trading on the Fly, Literally
Hi, well I’m coming to you with a “selfie” from London for this week.
Let’s talk about what’s happened in the currency markets and what I am doing over on this side of the world, so let’s get into that right now!
Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 30th of January, and I’m over here in London, as you can tell, the Big Ben up there behind me and Westminster Abbey over here; and I’m here for a trading conference that’s on Saturday, Sunday, Monday and Tuesday, this week. So, been on the 29-hour flight over from New Zealand over to London, and certainly a lot colder over here, being winter-time!
Really looking forward to catching up with a lot of people at the conference, at the weekend! There’s a lot of new products being launched to do with trading, in general, and, of course, the Forex market and here to catch up with some brokers as well and really find out what are the better brokers around so I can, then, pass that information on to you guys and my clients and everybody who follows me.
Update on the Forex Markets
In the markets this week, well, the Australian Dollar’s (AUD) continued to fall further. I actually recommended a sell-trade on the Aussie/US Dollar (AUD/USD) on the weekly chart, to my clients on Monday, before I left New Zealand. And that was a retracement order and it retraced absolutely perfectly. It went no more than five pips negative and when I’ve looked at my charts, just about an hour ago, that trade was up about three and a half to one (3 ½ – 1) risk-to-reward trade and still not hit full profit but going really, really well.
And, the New Zealand Dollar (NZD) has also fallen a lot this week and the US/Canadian (USD/CAD) has continued to rise. Of course, the Euro (EUR) continues to fall and the British Pound (GBP) has also fallen with some strength there in the US Dollar (USD).
Trading on the Fly, Literally
As I’ve mentioned so many times before, that the beauty of trading is that you can trade longer time-frame charts. All I’ve traded this week, myself, is the daily charts and weekly charts, as I’ve had quite a lot of travel to do this week, obviously.
But you can still make some great money – so far, this week. I’m still up around three percent (3%) for the week and I’ve spent most of the week on an airplane and now, so finally, on the other side of the world. So, yet again, another benefit of the wonderful market that is the Forex market and how you can travel, trade and not glued to the screen all day and not glued to a 9 to 5 job.
So, I’m off to meet some people now and get ready for the conference I’m going to, so I look forward to bringing you really good and useful information that can help you with your trading, this time next week, once I’ve attended that conference and been through that and picked up some more ideas and some more opportunities for all of us.
So, that’s it from London and the “selfie” video. I’ll still record another video from here next week, just before I leave. But that’s it for now – this is Andrew Mitchem from The Forex Trading Coach saying goodbye from a rather chilly and cold London.
Bye for now!]]>203falsefullhttps://www.spreaker.com/episode/how-safe-is-your-money-with-your-current-broker--12239776How Safe is your Money with your Current Broker?
In This Video:
00:43 The Dilemma of Putting all your Eggs in One Basket
01:48 Segregation leads to Greater Safety and More Opportunities
03:28 Capitalizing on Market Opportunities
Is your money safe with your current broker? Let’s talk about that really important issue and lots more, right now!
Hi Forex Traders, it’s Andrew Mitchem here and I’m the owner of the Forex Trading Coach. Today, it’s Friday, the 23rd of January and I want to talk about safety of funds and for you to know, is your money safe with your current broker? The reason, obviously, is to do with the Swiss National Bank announcement, the big gaps that we saw in the markets when I talked about this, this time last week, and as a result of that, a number of brokers and some well known brokers have either gone bust or are in severe financial difficulty.
The Dilemma of Putting all your Eggs in One Basket

And so, it’s sort of, as traders with our money in different places, different brokers, it’s really important for us to be assured the best that we possibly can that our funds are safe. You know, there’s no good having a hundred thousand dollars sat with a broker and making fifty thousand dollars in the year and then, just when you want to go and bring that money back into your own bank account, any of it or part of it, the broker doesn’t have sufficient funds there or they’ve gone bust.
So it’s not a great situation of course!
And so, for me it’s important to have segregated funds and try and find out from your broker, as best as you possibly can, about the safety of your own funds and the whole quality of them as a company. So that’s one thing just to be aware of and a tip that I’ve got for you – now I’m not saying you should have to do this but it’s a really useful tip, I believe – let’s say you had one hundred thousand dollars to trade with, in your Forex account. Rather than having the whole one hundred thousand there, why don’t you look at reducing that?
Segregation leads to Greater Safety and More Opportunities

Let’s say, reduce it to fifty thousand and keep the other fifty thousand in a bank account, in your home country, or some place that you can access it and it’s likely to be safe. But then, trade the fifty thousand that’s left with your broker at double the normal risk that you would. So, for instance, if on a hundred thousand account, you’re trading at half of one percent risk per trade (0.5%) , if you felt more comfortable to bring fifty thousand back, into your own, normal, bank account and keep fifty thousand in your trading account, trade that fifty thousand with, lets say, 1% risk knowing full well that you do have other money in reserve if your account should get a touch low.
But even with one percent risk, to be honest, it’s quite a low amount. So, it’s just something to consider that you could do especially in the light of what’s happening with the brokers out there right now or some of them. So, of course, due to that announcement out of the Swiss Bank, we’ve seen a lot of movement in the Forex markets and, to be honest, as a trader there’s been some really good movement, apart from the big gap that the news announcement caused, last week. It’s given us some great opportunities and there’s been some really big movements.
The Euro, for instance, has continued to go down and down and down and down – It’s now at a level, as I am recording this, that’s not been seen since September, 2003. So, you know, that’s a long time, that’s twelve-thirteen years ago or twelve years ago, that we’re now at such a low level. And I’ve taken short positions on the Euro today, looking for that to continue even further.
Capitalizing on Market Opportunities]]>http://theforextradingcoach.com/?p=5246Sun, 25 Jan 2015 20:14:58 +0000Andrew MitchemPodcast: How Safe is your Money with your Current Broker? In This Video: 00:43 The Dilemma of Putting all your Eggs in One Basket 01:48 Segregation leads to Greater Safety and More Opportunities 03:28 Capitalizing on Market Opportunities Is your...How Safe is your Money with your Current Broker?
In This Video:
00:43 The Dilemma of Putting all your Eggs in One Basket
01:48 Segregation leads to Greater Safety and More Opportunities
03:28 Capitalizing on Market Opportunities
Is your money safe with your current broker? Let’s talk about that really important issue and lots more, right now!
Hi Forex Traders, it’s Andrew Mitchem here and I’m the owner of the Forex Trading Coach. Today, it’s Friday, the 23rd of January and I want to talk about safety of funds and for you to know, is your money safe with your current broker? The reason, obviously, is to do with the Swiss National Bank announcement, the big gaps that we saw in the markets when I talked about this, this time last week, and as a result of that, a number of brokers and some well known brokers have either gone bust or are in severe financial difficulty.
The Dilemma of Putting all your Eggs in One Basket

And so, it’s sort of, as traders with our money in different places, different brokers, it’s really important for us to be assured the best that we possibly can that our funds are safe. You know, there’s no good having a hundred thousand dollars sat with a broker and making fifty thousand dollars in the year and then, just when you want to go and bring that money back into your own bank account, any of it or part of it, the broker doesn’t have sufficient funds there or they’ve gone bust.
So it’s not a great situation of course!
And so, for me it’s important to have segregated funds and try and find out from your broker, as best as you possibly can, about the safety of your own funds and the whole quality of them as a company. So that’s one thing just to be aware of and a tip that I’ve got for you – now I’m not saying you should have to do this but it’s a really useful tip, I believe – let’s say you had one hundred thousand dollars to trade with, in your Forex account. Rather than having the whole one hundred thousand there, why don’t you look at reducing that?
Segregation leads to Greater Safety and More Opportunities

Let’s say, reduce it to fifty thousand and keep the other fifty thousand in a bank account, in your home country, or some place that you can access it and it’s likely to be safe. But then, trade the fifty thousand that’s left with your broker at double the normal risk that you would. So, for instance, if on a hundred thousand account, you’re trading at half of one percent risk per trade (0.5%) , if you felt more comfortable to bring fifty thousand back, into your own, normal, bank account and keep fifty thousand in your trading account, trade that fifty thousand with, lets say, 1% risk knowing full well that you do have other money in reserve if your account should get a touch low.
But even with one percent risk, to be honest, it’s quite a low amount. So, it’s just something to consider that you could do especially in the light of what’s happening with the brokers out there right now or some of them. So, of course, due to that announcement out of the Swiss Bank, we’ve seen a lot of movement in the Forex markets and, to be honest, as a trader there’s been some really good movement, apart from the big gap that the news announcement caused, last week. It’s given us some great opportunities and there’s been some really big movements.
The Euro, for instance, has continued to go down and down and down and down – It’s now at a level, as I am recording this, that’s not been seen since September, 2003. So, you know, that’s a long time, that’s twelve-thirteen years ago or twelve years ago, that we’re now at such a low level. And I’ve taken short positions on the Euro today, looking for that to continue even further.
Capitalizing on Market Opportunities]]>295falsefullhttps://www.spreaker.com/episode/one-trade-makes-more-money-than-keeping-your-savings-at-the-bank-for-a-year--12239777One trade makes more money than keeping your savings at the bank for a year.
In This Video:
00:34 The Anatomy of the Trade
01:09 The Latest Development on the Swiss Bank Scene
02:51 So much potential in the Forex market
In today’s video and podcast, I want to share with you how I made more money in just one trade, this week, than you’ll get paid by most banks around the world in an entire year. So, let’s share more details about that right now.
Hi Forex traders, it’s Andrew Mitchem here, The Forex Trading Coach and this is my first weekly video for 2015 and as you can tell, it’s absolutely glorious weather here, in the middle of summer, in New Zealand. Today is Friday, the 16th of January, and I want to share some details with you regarding a trade that I took this week.
The Anatomy of the Trade

It was a trade that I took on the US/Japanese Yen (USD/JPY); it was taken on Monday, on the first day of the week, on the weekly chart. That trade made a 3.2 to 1 return which is a fairly good trade for a weekly chart trade but its hit profit target in only three days.
Now, I risk half of one percent on that trade, 0.5% of my account on that one trade, with a 3.2 risk to reward on that trade. That means, I made a 1.6% gain on my account just on that one trade.
The Latest Development on the Swiss Bank Scene

And so, you’d be aware by now that overnight, today, we’ve had the Swiss National Bank has, they’ve stopped trying to intervene with the Swiss Franc and so, the Franc, for the last three years, has been held above the 1.2000 level against the Euro and they’ve suddenly decided to stop that.
And so we’ve had massive, massive gains on the Swiss Franc. And the Euro/Swiss Franc doesn’t really move a great deal – normally it moves 20, 30 pips a day, tops – and overnight it’s moved 2,300 pips, so almost 100-times its average daily range since that news’ announcement, so massive news announcement. And now we might, sort of, see the Euro/Franc or a lot of other Franc pairs moving a lot over the next few days.
The Interest Rate Environment in Swiss Banks

But the interesting thing that I’ve got here is I’ve just printed off some bank interest rates out of Switzerland. Now, these are printed, sort of, live as of today. The savings bank rates – 0.01% and if you have over 500,000 Swiss Francs, they’re going to pay you an amazing 0.025%. So, when you look at that, now I’m sure that there’s other banks that may be paying a touch more depending on the actual investment but this is what I’ve just printed off the Internet here.
So, the highest that I can find on a savings account over half a million Swiss Francs is 0.025%. So that’s, obviously, not particularly exciting. The point I’m making though is that the Forex market offers you so much potential. In the one trade just taken four days ago made me 1.6% – just one trade!
So, when you look at the interest rates of the traditional way of investing, the bank saving rates, Forex – once you understand it, once you have an understanding of how to analyze the market, the gains are massive.
The other thing I want to mention also is because of course we’ve started 2015, make sure you have yourself a trading plan. You know, have a plan, write it down, stick to it! If you didn’t get a copy of the plan that I offered at the end of 2014, I’ve got a copy here, I’m happy to email you a PDF version of the trading plan outline that I use.
So if you’d like that, just enter your details on the form below this video. So that’s it for now, as you can see it’s nice and sunny, nice and glary. I’m off for a dip behind here in the pool – it’s too hot otherwise, so look forward to talking to you this time, next week.
CLICK ON THE IMAGE BELOW TO GET ACCESS TO MY TRADING PLAN TEMPLA...]]>http://theforextradingcoach.com/?p=5228Sun, 18 Jan 2015 08:36:09 +0000Andrew MitchemPodcast: One trade makes more money than keeping your savings at the bank for a year. In This Video: 00:34 The Anatomy of the Trade 01:09 The Latest Development on the Swiss Bank Scene 02:51 So much potential in the Forex market In today’s video and...One trade makes more money than keeping your savings at the bank for a year.
In This Video:
00:34 The Anatomy of the Trade
01:09 The Latest Development on the Swiss Bank Scene
02:51 So much potential in the Forex market
In today’s video and podcast, I want to share with you how I made more money in just one trade, this week, than you’ll get paid by most banks around the world in an entire year. So, let’s share more details about that right now.
Hi Forex traders, it’s Andrew Mitchem here, The Forex Trading Coach and this is my first weekly video for 2015 and as you can tell, it’s absolutely glorious weather here, in the middle of summer, in New Zealand. Today is Friday, the 16th of January, and I want to share some details with you regarding a trade that I took this week.
The Anatomy of the Trade

It was a trade that I took on the US/Japanese Yen (USD/JPY); it was taken on Monday, on the first day of the week, on the weekly chart. That trade made a 3.2 to 1 return which is a fairly good trade for a weekly chart trade but its hit profit target in only three days.
Now, I risk half of one percent on that trade, 0.5% of my account on that one trade, with a 3.2 risk to reward on that trade. That means, I made a 1.6% gain on my account just on that one trade.
The Latest Development on the Swiss Bank Scene

And so, you’d be aware by now that overnight, today, we’ve had the Swiss National Bank has, they’ve stopped trying to intervene with the Swiss Franc and so, the Franc, for the last three years, has been held above the 1.2000 level against the Euro and they’ve suddenly decided to stop that.
And so we’ve had massive, massive gains on the Swiss Franc. And the Euro/Swiss Franc doesn’t really move a great deal – normally it moves 20, 30 pips a day, tops – and overnight it’s moved 2,300 pips, so almost 100-times its average daily range since that news’ announcement, so massive news announcement. And now we might, sort of, see the Euro/Franc or a lot of other Franc pairs moving a lot over the next few days.
The Interest Rate Environment in Swiss Banks

But the interesting thing that I’ve got here is I’ve just printed off some bank interest rates out of Switzerland. Now, these are printed, sort of, live as of today. The savings bank rates – 0.01% and if you have over 500,000 Swiss Francs, they’re going to pay you an amazing 0.025%. So, when you look at that, now I’m sure that there’s other banks that may be paying a touch more depending on the actual investment but this is what I’ve just printed off the Internet here.
So, the highest that I can find on a savings account over half a million Swiss Francs is 0.025%. So that’s, obviously, not particularly exciting. The point I’m making though is that the Forex market offers you so much potential. In the one trade just taken four days ago made me 1.6% – just one trade!
So, when you look at the interest rates of the traditional way of investing, the bank saving rates, Forex – once you understand it, once you have an understanding of how to analyze the market, the gains are massive.
The other thing I want to mention also is because of course we’ve started 2015, make sure you have yourself a trading plan. You know, have a plan, write it down, stick to it! If you didn’t get a copy of the plan that I offered at the end of 2014, I’ve got a copy here, I’m happy to email you a PDF version of the trading plan outline that I use.
So if you’d like that, just enter your details on the form below this video. So that’s it for now, as you can see it’s nice and sunny, nice and glary. I’m off for a dip behind here in the pool – it’s too hot otherwise, so look forward to talking to you this time, next week.
CLICK ON THE IMAGE BELOW TO GET ACCESS TO MY TRADING PLAN TEMPLA...]]>249falsefullhttps://www.spreaker.com/episode/your-trading-plan-for-2015--12239779Your Trading Plan For 2015
In This Video:
01:12 Creating a Trading Plan Template
02:48 Setting Guidelines for Trading
05:31 A Christmas Offer Coming Your Way
Have you written your trading plan yet, for 2015? If you haven’t, I’ve got something here that will really help you. So let’s get into that right now!
Hi traders, it’s Andrew Mitchem here. I’m the owner of The Forex Trading Coach, one of the leading Forex education companies in the world, and I really would like to emphasise the importance of two things, as we come towards the end of 2014.
First of all, you can use this time to review your trading over the last year. Go back through your results, look at different time frame charts, different types of trades that you’ve taken and really analyse the market conditions at the time and to determine what sort of trades are really suiting you as a trader – what time frames, what pairs, what times of the day, etc. And then, the important thing from now on is to have a trading plan for 2015.
This was a topic that I discussed in depth with my clients just last night on our live two-hour trading room webinar which, by the way, some people took some amazing trades and made a whole heap of money live, while I was on the webinar, but more about that shortly.
Creating a Trading Plan Template

So, the Trading Plan – well, I’ve written one out here and I’ve got my own trading plan – it’s around eight pages long. I am not going to discuss the actual details of my own personal one – that’s something I discuss only with my clients – but I can give you an outline of how I go about developing that trading plan and also, on this page, underneath this video on this page, there will be a sign-up box which will… you can fill in your details on that and I’ll send you a blank copy of this very trading plan that I’m holding here in my hand.
So, it goes along the lines for this – First of all, write down what currency pairs you’re wanting to trade! It might be all of the trades, all of the pairs that your broker offers; it may be just a select few types of pairs, but write it down. The second thing – what days of the week am I looking at trading. Are you looking at trading only Tuesday, Wednesday and Thursday? Are you looking at trading just once a week? Are you looking at trading all five days? Again, write it down!
Then, break down each day – what hours are you looking at trading? You know, is it just on the close of the daily chart? Is it just on the close of the hourly chart? Whatever it might be, have that written down and then, look at what time frame charts that suit you. And you’ll start to know, over a period of time, what suits you. You might like the fifteen minute charts but you might find that they’re not profitable for you. You might think that the daily charts are too slow and too boring for you, possibly, but you might think that “hey, when I analyse my results, they’re actually making me more money than anything.” So, whatever it is that suits you!
It’s Also about Setting Guidelines for Trading
Make a note of what times that you are not going to trade! Again, could be coming up towards weekends or public holidays or major news events – whatever it might be – have that written down. And so, the list goes on like this, in terms of what setups am I looking at taking. What are the criteria for a trade that I am looking? Does that change depending on the time frame of the chart that you’re trading? Or the pair even? What type of trade are you looking for? Are you looking for reversal patterns, continuations, breakouts, scalping, news trading, whatever it might be again – have that written down!
Look at having a set of rules defining your entry and exit targets and so what you’ll find this does is when you have it written down,]]>http://theforextradingcoach.com/?p=5187Sun, 14 Dec 2014 20:58:56 +0000Andrew MitchemPodcast: Your Trading Plan For 2015 In This Video: 01:12 Creating a Trading Plan Template 02:48 Setting Guidelines for Trading 05:31 A Christmas Offer Coming Your Way Have you written your trading plan yet, for 2015? If you haven’t, I’ve got...Your Trading Plan For 2015
In This Video:
01:12 Creating a Trading Plan Template
02:48 Setting Guidelines for Trading
05:31 A Christmas Offer Coming Your Way
Have you written your trading plan yet, for 2015? If you haven’t, I’ve got something here that will really help you. So let’s get into that right now!
Hi traders, it’s Andrew Mitchem here. I’m the owner of The Forex Trading Coach, one of the leading Forex education companies in the world, and I really would like to emphasise the importance of two things, as we come towards the end of 2014.
First of all, you can use this time to review your trading over the last year. Go back through your results, look at different time frame charts, different types of trades that you’ve taken and really analyse the market conditions at the time and to determine what sort of trades are really suiting you as a trader – what time frames, what pairs, what times of the day, etc. And then, the important thing from now on is to have a trading plan for 2015.
This was a topic that I discussed in depth with my clients just last night on our live two-hour trading room webinar which, by the way, some people took some amazing trades and made a whole heap of money live, while I was on the webinar, but more about that shortly.
Creating a Trading Plan Template

So, the Trading Plan – well, I’ve written one out here and I’ve got my own trading plan – it’s around eight pages long. I am not going to discuss the actual details of my own personal one – that’s something I discuss only with my clients – but I can give you an outline of how I go about developing that trading plan and also, on this page, underneath this video on this page, there will be a sign-up box which will… you can fill in your details on that and I’ll send you a blank copy of this very trading plan that I’m holding here in my hand.
So, it goes along the lines for this – First of all, write down what currency pairs you’re wanting to trade! It might be all of the trades, all of the pairs that your broker offers; it may be just a select few types of pairs, but write it down. The second thing – what days of the week am I looking at trading. Are you looking at trading only Tuesday, Wednesday and Thursday? Are you looking at trading just once a week? Are you looking at trading all five days? Again, write it down!
Then, break down each day – what hours are you looking at trading? You know, is it just on the close of the daily chart? Is it just on the close of the hourly chart? Whatever it might be, have that written down and then, look at what time frame charts that suit you. And you’ll start to know, over a period of time, what suits you. You might like the fifteen minute charts but you might find that they’re not profitable for you. You might think that the daily charts are too slow and too boring for you, possibly, but you might think that “hey, when I analyse my results, they’re actually making me more money than anything.” So, whatever it is that suits you!
It’s Also about Setting Guidelines for Trading
Make a note of what times that you are not going to trade! Again, could be coming up towards weekends or public holidays or major news events – whatever it might be – have that written down. And so, the list goes on like this, in terms of what setups am I looking at taking. What are the criteria for a trade that I am looking? Does that change depending on the time frame of the chart that you’re trading? Or the pair even? What type of trade are you looking for? Are you looking for reversal patterns, continuations, breakouts, scalping, news trading, whatever it might be again – have that written down!
Look at having a set of rules defining your entry and exit targets and so what you’ll find this does is when you have it written down,]]>411falsefullhttps://www.spreaker.com/episode/free-forex-trading-information-from-a-trading-giant--12239778Free Forex Trading Information from a Trading Giant
In This Video:
01:21 Where I post my free Forex trading information
02:34 Couple of emails from Paul in the UK
04:41 Tremendous Christmas offer
I am going to share with you a way that you can get daily, free Forex information to help you make money in the Forex market. Let’s get into that right now!
Hi Forex Traders, it’s Andrew Mitchem here. I’m the owner of The Forex Trading Coach and today, it’s Friday, the 5th of December and in today’s video and podcast, I’m going to share with you one of several ways in which you can get access to free, high quality, Forex information on a day-by-day basis, and information that’s posted in advance of the market moving that can help you make a huge amount of money out of the Forex market for free!
So let me share with you some various ways in which you can do that.
Daily Free Forex Trading Information
And so, each day, I post free, on various websites, market information. I do this in advance of the market moving. It’s not hindsight information; it’s not telling you what happened yesterday or last week; it’s not saying “the market might go up to this level” and “it might go down to this level”. I’m not saying any of that! I’m giving information about the likely directions for different currency pairs, and the strength in different currencies and weakness of other currencies, on a day-by-day basis – all for free, for you to be able to use.
Now, different places that I post that!

*
I post that on my website, first of all, so you can go to the “News” tab on my website and look for latest daily directions. All the information’s there! So, just log into theforextradingcoach.com and go to that News tab.

*
The second place that I post at, where you can find that information is on Facebook! Now, if you go and search for, all one word, “andrewmitchemtheforextradingcoach”, you’ll find my Facebook page. Be sure to “Like” it. If you like it, that will just, really, be great for me and it’ll be great for you because you can get the information. So, go to Facebook on a day-by-day basis.

*
The other place I post it is on Forex Peace Army where I’ve been posting for almost two-years now on a daily basis. I was asked by the owners of Forex Peace Army. I am one of only three trading giants on that entire community website who post daily trading information.

*
And the last place is on eToro. Now, eToro as you may know is a very large social trading website and it just so happens that I’ve got an email here, or two emails from the same person, two different days in a row.


I’ll just read them out to you.
How Free Forex Trading Info can Affect your Trade Outcomes
The guy’s called Paul, from over in the UK and he says, “Hi Andrew, I’m new to this but I have to say that yours is the best advice on eToro and you prove it pretty consistently. I’ve started copying other people but I’m not getting huge returns so I now use your guidance and I’m averaging one hundred to one hundred and fifty US dollars a day with a three and a half thousand US dollar eToro account”.
So that was written to me on Thursday and then today, being Friday, I’ve had another email from Paul who said, “Fantastic so far. You’re advice has earned me a hundred and seventy five US dollars today. “Can’t wait for your next post!” And so, that’s just from one person, two days following. Just, free information that's out there; people making… you know, Paul’s just brand new to trading but people are making hundreds of dollars and some people are making thousands of dollars per day, just from that free information, so make sure you go there!
Like I said,]]>http://theforextradingcoach.com/?p=5173Sun, 07 Dec 2014 03:21:29 +0000Andrew MitchemPodcast: Free Forex Trading Information from a Trading Giant In This Video: 01:21 Where I post my free Forex trading information 02:34 Couple of emails from Paul in the UK 04:41 Tremendous Christmas offer I am going to share with you a way that...Free Forex Trading Information from a Trading Giant
In This Video:
01:21 Where I post my free Forex trading information
02:34 Couple of emails from Paul in the UK
04:41 Tremendous Christmas offer
I am going to share with you a way that you can get daily, free Forex information to help you make money in the Forex market. Let’s get into that right now!
Hi Forex Traders, it’s Andrew Mitchem here. I’m the owner of The Forex Trading Coach and today, it’s Friday, the 5th of December and in today’s video and podcast, I’m going to share with you one of several ways in which you can get access to free, high quality, Forex information on a day-by-day basis, and information that’s posted in advance of the market moving that can help you make a huge amount of money out of the Forex market for free!
So let me share with you some various ways in which you can do that.
Daily Free Forex Trading Information
And so, each day, I post free, on various websites, market information. I do this in advance of the market moving. It’s not hindsight information; it’s not telling you what happened yesterday or last week; it’s not saying “the market might go up to this level” and “it might go down to this level”. I’m not saying any of that! I’m giving information about the likely directions for different currency pairs, and the strength in different currencies and weakness of other currencies, on a day-by-day basis – all for free, for you to be able to use.
Now, different places that I post that!

*
I post that on my website, first of all, so you can go to the “News” tab on my website and look for latest daily directions. All the information’s there! So, just log into theforextradingcoach.com and go to that News tab.

*
The second place that I post at, where you can find that information is on Facebook! Now, if you go and search for, all one word, “andrewmitchemtheforextradingcoach”, you’ll find my Facebook page. Be sure to “Like” it. If you like it, that will just, really, be great for me and it’ll be great for you because you can get the information. So, go to Facebook on a day-by-day basis.

*
The other place I post it is on Forex Peace Army where I’ve been posting for almost two-years now on a daily basis. I was asked by the owners of Forex Peace Army. I am one of only three trading giants on that entire community website who post daily trading information.

*
And the last place is on eToro. Now, eToro as you may know is a very large social trading website and it just so happens that I’ve got an email here, or two emails from the same person, two different days in a row.


I’ll just read them out to you.
How Free Forex Trading Info can Affect your Trade Outcomes
The guy’s called Paul, from over in the UK and he says, “Hi Andrew, I’m new to this but I have to say that yours is the best advice on eToro and you prove it pretty consistently. I’ve started copying other people but I’m not getting huge returns so I now use your guidance and I’m averaging one hundred to one hundred and fifty US dollars a day with a three and a half thousand US dollar eToro account”.
So that was written to me on Thursday and then today, being Friday, I’ve had another email from Paul who said, “Fantastic so far. You’re advice has earned me a hundred and seventy five US dollars today. “Can’t wait for your next post!” And so, that’s just from one person, two days following. Just, free information that's out there; people making… you know, Paul’s just brand new to trading but people are making hundreds of dollars and some people are making thousands of dollars per day, just from that free information, so make sure you go there!
Like I said,]]>345falsefullhttps://www.spreaker.com/episode/technical-indicators-do-they-really-work--12239780Technical Indicators – Do they really work?
In this Video:
00:16 An email from Arthur
01:11 Technical Indicators do not help make Money?
03:25 Combining Indicators for Greater Accuracy
Technical Indicators – Do they really work? Well, let’s talk about that and lot’s more, right now.
Hi Forex traders, it’s Andrew Mitchem here. I’m the owner of The Forex Trading Coach and today is Friday, the 27th of November and I’ve had an email here from Arthur, and Arthur said, “Andrew, on your next webinar, can you tell us about what indicators you use. Do you use lagging indicators like MACD and RSI or more support and resistant and pivot point indicators?”
So let me, first of all, share with you my story about technical trading because as you probably know, I am a technical trader but when I started trading, about eleven years ago, I was fascinated by technical indicators. I had never seen, really, much, you know, about them in the past. I was just amazed by how many there were, how good they looked; how varied they looked; how colourful they looked; you know they were a really exciting way of trading. And so, what I did is I studied them, I printed out information about them; I was looking online about them, trying to find out about all the different ways of using technical indicators.
The Truth About Technical Indicators
But what I then discovered over time and to my detriment is that I really didn’t make money by trading using technical indicators, the standard technical indicators that all charting packages have. I didn’t make anything. And then, over time, as things developed, I then realised there must be a way of using a certain combination of indicators to make money – has to be! So I had to find it. And I ended up using a great piece of software actually – I don’t use it today but I really did like it – it was called trade station, which I’m sure you’ve probably heard of, and trade station had the ability to have people write code for you and optimize different indicators and go back and back-test to some really good, accurate detail in various combinations. I was making an absolute fortune in my back-testing. I was, you know, making millions and millions of dollars every year through a certain combination and I was optimizing and tweaking and I’m sure you’ve done it. I’m sure you know exactly what I mean.
But anyway, the net result was, even though I had sort of, like, robots and bits of script and things written to automate the trades for me, using the optimized strategy, I still didn’t make money in real time. And so, the thing I realised then is that I needed to do something different so I started again with a blank chart and then got to study price action and added a few certain indicators onto that. But what I realised is that almost all indicators including candlestick patterns, which I absolutely love candlestick patterns, they’re a big part of my trading but even candlesticks are, really, lagging indicators. Because, if you, let’s say, have a one-hour chart on, all its doing is showing you what’s happened in the last one hour. And so, although they are the most, probably, up to date type of indicator, I use price action not just the, you know, “what’s happened” but I use the actual price itself. You know, when was the last time it bounced at that level? I use support and resistance levels, and round numbers and pivot points, which are kind of what I call leading indicators because they are there in advance of the market moving towards those levels.
Making Technical Indicators More Effective
So, to me it’s about using a combination of understanding price action, where the price has been, where it’s likely to move to and when and why. And when you have that combination put together, not only can it help you with your entry point but also, really,]]>http://theforextradingcoach.com/?p=5140Sun, 30 Nov 2014 22:52:55 +0000Andrew MitchemPodcast: Technical Indicators – Do they really work? In this Video: 00:16 An email from Arthur 01:11 Technical Indicators do not help make Money? 03:25 Combining Indicators for Greater Accuracy Technical Indicators – Do they really work? Well, let’s...Technical Indicators – Do they really work?
In this Video:
00:16 An email from Arthur
01:11 Technical Indicators do not help make Money?
03:25 Combining Indicators for Greater Accuracy
Technical Indicators – Do they really work? Well, let’s talk about that and lot’s more, right now.
Hi Forex traders, it’s Andrew Mitchem here. I’m the owner of The Forex Trading Coach and today is Friday, the 27th of November and I’ve had an email here from Arthur, and Arthur said, “Andrew, on your next webinar, can you tell us about what indicators you use. Do you use lagging indicators like MACD and RSI or more support and resistant and pivot point indicators?”
So let me, first of all, share with you my story about technical trading because as you probably know, I am a technical trader but when I started trading, about eleven years ago, I was fascinated by technical indicators. I had never seen, really, much, you know, about them in the past. I was just amazed by how many there were, how good they looked; how varied they looked; how colourful they looked; you know they were a really exciting way of trading. And so, what I did is I studied them, I printed out information about them; I was looking online about them, trying to find out about all the different ways of using technical indicators.
The Truth About Technical Indicators
But what I then discovered over time and to my detriment is that I really didn’t make money by trading using technical indicators, the standard technical indicators that all charting packages have. I didn’t make anything. And then, over time, as things developed, I then realised there must be a way of using a certain combination of indicators to make money – has to be! So I had to find it. And I ended up using a great piece of software actually – I don’t use it today but I really did like it – it was called trade station, which I’m sure you’ve probably heard of, and trade station had the ability to have people write code for you and optimize different indicators and go back and back-test to some really good, accurate detail in various combinations. I was making an absolute fortune in my back-testing. I was, you know, making millions and millions of dollars every year through a certain combination and I was optimizing and tweaking and I’m sure you’ve done it. I’m sure you know exactly what I mean.
But anyway, the net result was, even though I had sort of, like, robots and bits of script and things written to automate the trades for me, using the optimized strategy, I still didn’t make money in real time. And so, the thing I realised then is that I needed to do something different so I started again with a blank chart and then got to study price action and added a few certain indicators onto that. But what I realised is that almost all indicators including candlestick patterns, which I absolutely love candlestick patterns, they’re a big part of my trading but even candlesticks are, really, lagging indicators. Because, if you, let’s say, have a one-hour chart on, all its doing is showing you what’s happened in the last one hour. And so, although they are the most, probably, up to date type of indicator, I use price action not just the, you know, “what’s happened” but I use the actual price itself. You know, when was the last time it bounced at that level? I use support and resistance levels, and round numbers and pivot points, which are kind of what I call leading indicators because they are there in advance of the market moving towards those levels.
Making Technical Indicators More Effective
So, to me it’s about using a combination of understanding price action, where the price has been, where it’s likely to move to and when and why. And when you have that combination put together, not only can it help you with your entry point but also, really,]]>380falsefullhttps://www.spreaker.com/episode/are-you-in-search-of-the-holy-grail-of-forex-trading--12239781Are You In Search of The Holy Grail of Forex Trading?
In this video:
00:23   In search of the Holy Grail of Forex Trading
01:47    Accepting the changes within your trading
03:37    There’s no good at buying a strategy that relies on you
Are you constantly in search of the Holy Grail of Forex trading? If that sounds like you; listen up because I’ve got some really good information to follow.
Hi traders it’s Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday, the 21st of November and I want to talk about a subject that I get asked so often and I’ve had another couple of emails about just this week. It’s about people constantly searching for what I call and what everybody else calls the Holy Grail of Forex trading and that really is like the ultimate system that just never fails and people are constantly looking for that, you know, that “perfect” system. Unfortunately it doesn’t exist; there is no such thing. But people are always there looking for the next thing, adding indicators, whatever it might be  to make a system and a strategy that’s probably perfectly okay into something that’s even better.
The other thing of course that a lot of people do is they constantly changing between one system and another, they’re adapting bits of one system over here putting it into another system. People buy robots, they're made out to be just the most fantastic things, all at $97 you notice but, you know, they’re at there to solve everybody’s life problems by plugging and playing for $97. Hindsight and back testing looks fantastic, you put on a live account, it doesn’t work (in most cases) and then people there, they give up and never going to buy another robot.
Changing Market Conditions
Up comes another email on a month or so later, buy it again $97 on to the next system and that happens all the time. It doesn’t matter whether you’re attending webinars, whether you’re buying robots, eBooks, courses, strategies, whatever it is it just happens all the time. So, realistically as a trader you need to accept that the market is changing all of the time, it’s never the same.
Just to look at the Japanese Yen (JPY) over the last sort of few weeks. I’m not sure if you can see right behind me here, I’ve got the CAD/JPY (Canadian Dollar/Japanese Yen) just gone up and up and up and up and up. And the Yen (JPY) has done that against all of the weakness in the Yen (JPY); has just been a fantastic thing to trade. You know, there’s just been so much weakness on the Yen (JPY). There’s been an opportunity to continue buying it up and up. Likewise, there’s been an opportunity to wait for slight pull back to retracements and then buying another currency against the Japanese Yen (JPY). And it’s probably one of those times right now, the last few weeks with the Yen in particular against all currencies has been as good at time to be trading the Yen then it has for long time. Go back on your charts and look back to what it was doing earlier this year. “This did that”, did absolutely nothing, it was flat as a pancake. It was awful to trade the Japanese Yen (JPY) earlier this year. It was just, up one day down the next. Just a small movement, very small daily ranges.
The last few weeks and few months, has just gone crazy and it’s just been brilliant to trade. So accepting that condition are changing within your trading and the strategy needs to allow for that and cope with that and so do you because what happened back in the early part of this year, the conditions are different to now. So earlier or in the year you might be trading the shorter time frame charts to gain some profits out of the Yen pairs. Whereas today you might be trading the longer time frames, the weeklies, the dailies, the 4-hourly charts and make tremendous gains on the Yen pairs because the trends are there right now.]]>http://theforextradingcoach.com/?p=5130Sun, 23 Nov 2014 19:04:59 +0000Andrew MitchemPodcast: Are You In Search of The Holy Grail of Forex Trading? In this video: 00:23   In search of the Holy Grail of Forex Trading 01:47    Accepting the changes within your trading 03:37    There’s no good at buying a strategy that relies on you...Are You In Search of The Holy Grail of Forex Trading?
In this video:
00:23   In search of the Holy Grail of Forex Trading
01:47    Accepting the changes within your trading
03:37    There’s no good at buying a strategy that relies on you
Are you constantly in search of the Holy Grail of Forex trading? If that sounds like you; listen up because I’ve got some really good information to follow.
Hi traders it’s Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday, the 21st of November and I want to talk about a subject that I get asked so often and I’ve had another couple of emails about just this week. It’s about people constantly searching for what I call and what everybody else calls the Holy Grail of Forex trading and that really is like the ultimate system that just never fails and people are constantly looking for that, you know, that “perfect” system. Unfortunately it doesn’t exist; there is no such thing. But people are always there looking for the next thing, adding indicators, whatever it might be  to make a system and a strategy that’s probably perfectly okay into something that’s even better.
The other thing of course that a lot of people do is they constantly changing between one system and another, they’re adapting bits of one system over here putting it into another system. People buy robots, they're made out to be just the most fantastic things, all at $97 you notice but, you know, they’re at there to solve everybody’s life problems by plugging and playing for $97. Hindsight and back testing looks fantastic, you put on a live account, it doesn’t work (in most cases) and then people there, they give up and never going to buy another robot.
Changing Market Conditions
Up comes another email on a month or so later, buy it again $97 on to the next system and that happens all the time. It doesn’t matter whether you’re attending webinars, whether you’re buying robots, eBooks, courses, strategies, whatever it is it just happens all the time. So, realistically as a trader you need to accept that the market is changing all of the time, it’s never the same.
Just to look at the Japanese Yen (JPY) over the last sort of few weeks. I’m not sure if you can see right behind me here, I’ve got the CAD/JPY (Canadian Dollar/Japanese Yen) just gone up and up and up and up and up. And the Yen (JPY) has done that against all of the weakness in the Yen (JPY); has just been a fantastic thing to trade. You know, there’s just been so much weakness on the Yen (JPY). There’s been an opportunity to continue buying it up and up. Likewise, there’s been an opportunity to wait for slight pull back to retracements and then buying another currency against the Japanese Yen (JPY). And it’s probably one of those times right now, the last few weeks with the Yen in particular against all currencies has been as good at time to be trading the Yen then it has for long time. Go back on your charts and look back to what it was doing earlier this year. “This did that”, did absolutely nothing, it was flat as a pancake. It was awful to trade the Japanese Yen (JPY) earlier this year. It was just, up one day down the next. Just a small movement, very small daily ranges.
The last few weeks and few months, has just gone crazy and it’s just been brilliant to trade. So accepting that condition are changing within your trading and the strategy needs to allow for that and cope with that and so do you because what happened back in the early part of this year, the conditions are different to now. So earlier or in the year you might be trading the shorter time frame charts to gain some profits out of the Yen pairs. Whereas today you might be trading the longer time frames, the weeklies, the dailies, the 4-hourly charts and make tremendous gains on the Yen pairs because the trends are there right now.]]>328falsefullhttps://www.spreaker.com/episode/the-benefits-of-trading-longer-time-frame-charts--12239783The Benefits of Trading Longer Time Frame Charts

In this video:
00:49   Trading less can be more
02:25   The major benefit of trading longer time frame charts
05:06   An email from a non-client asking about swap
 
I’m going to explain the main reasons why I much prefer taking longer time frame charts as a Forex trader. So let’s get into that right now.
 
Hi Forex traders it’s Andrew Mitchem here and I’m the owner of The Forex Trading Coach.
 
And in this video and podcast I’m going to explain to you the main reasons why I much prefer to trade the longer time frame charts.
 
Now there’s nothing wrong with scalping the market, there’s nothing wrong with taking trades off 5-minute charts or 15-minute charts but for me personally I think there’s a huge amount of benefits for taking longer time frame charts. As a longer time chart I’m talking anything from 1-hour chart, 4-hour chart, 6-hour chart, 12-hour chart, daily charts, weekly charts, etc. So anything that’s not scalping really.
 
The main reasons are:
 

*
Less Trade. Trading less can be more. Now it’s a commonly use “catch” phrase but in trading it really does apply. You see, you don’t need to be trading more and more often in order to make more money and people think that as a trader or as a full time trader or someone making their career out of trading you have to be settled what’s on the chart all the time; you don’t have to; it’s just a misconception. The important thing to do is to have something that works for you of course in terms of the time of day, the pairs, the type of trading style that you wish to use. But also you don't have to be doing that all of the time and the great thing is for the longer time frame charts is you can plan your day around your trading.


For instance I don’t really look at the 1-hour charts until later on in the European session which is my evening here in New Zealand. If you happen to live in the U.S. you might look at the U.S. session just on the hour charts. If I have other things or now I go to the longer time frame charts like looking at the 4-hour charts every 4 hours as and when I can. Anything longer than that well I’ve got a great indicator that allows me to create 6-hour charts, 12-hour charts and of course then you can look at the standard daily chart or weekly chart.
 
So what that means is if you trade on the completion of each bar or look to trade on the completion of each bar, if you’re trading let’s say a 4-hour charts for instance. You know that you have 4 hours in between one chart closing and maybe taking a trade if you see something and then, any potential new trade setup you got 4 hours to go and do whatever you want, get away from the computer whatever it might be.
 
So that’s the lifestyle and keeping away from the screen is one major benefit.
 

*
Higher Returns. The other of course is higher returns because generally on your longer time frame charts you generally get a higher reward to risk out of the trade. Spread becomes less of an issue and so you generally find that you’re able to achieve far greater returns from the longer time frame charts. I, very often achieve 2, 3 or 4 times my risk depending on what the charts setup is but generally on the longer time frame charts. It’s a lot harder to achieve those high returns on a 5-minute charts for instance. You’re going to catch a good run every so often but not only do you need to be there all the time. It’s a lot harder to gain a trade that’s let’s say got a 15 pip stop loss and a 60 pip profit and get that profit more often than not. It’s a lot harder to do that on a short time frame chart.

*
High Reliability. The other thing with the high time frame charts of course is the high reliability....]]>http://theforextradingcoach.com/?p=5107Sun, 16 Nov 2014 19:45:59 +0000Andrew MitchemPodcast: The Benefits of Trading Longer Time Frame Charts In this video: 00:49   Trading less can be more 02:25   The major benefit of trading longer time frame charts 05:06   An email from a non-client asking about swap   I’m going to explain the...The Benefits of Trading Longer Time Frame Charts

In this video:
00:49   Trading less can be more
02:25   The major benefit of trading longer time frame charts
05:06   An email from a non-client asking about swap
 
I’m going to explain the main reasons why I much prefer taking longer time frame charts as a Forex trader. So let’s get into that right now.
 
Hi Forex traders it’s Andrew Mitchem here and I’m the owner of The Forex Trading Coach.
 
And in this video and podcast I’m going to explain to you the main reasons why I much prefer to trade the longer time frame charts.
 
Now there’s nothing wrong with scalping the market, there’s nothing wrong with taking trades off 5-minute charts or 15-minute charts but for me personally I think there’s a huge amount of benefits for taking longer time frame charts. As a longer time chart I’m talking anything from 1-hour chart, 4-hour chart, 6-hour chart, 12-hour chart, daily charts, weekly charts, etc. So anything that’s not scalping really.
 
The main reasons are:
 

*
Less Trade. Trading less can be more. Now it’s a commonly use “catch” phrase but in trading it really does apply. You see, you don’t need to be trading more and more often in order to make more money and people think that as a trader or as a full time trader or someone making their career out of trading you have to be settled what’s on the chart all the time; you don’t have to; it’s just a misconception. The important thing to do is to have something that works for you of course in terms of the time of day, the pairs, the type of trading style that you wish to use. But also you don't have to be doing that all of the time and the great thing is for the longer time frame charts is you can plan your day around your trading.


For instance I don’t really look at the 1-hour charts until later on in the European session which is my evening here in New Zealand. If you happen to live in the U.S. you might look at the U.S. session just on the hour charts. If I have other things or now I go to the longer time frame charts like looking at the 4-hour charts every 4 hours as and when I can. Anything longer than that well I’ve got a great indicator that allows me to create 6-hour charts, 12-hour charts and of course then you can look at the standard daily chart or weekly chart.
 
So what that means is if you trade on the completion of each bar or look to trade on the completion of each bar, if you’re trading let’s say a 4-hour charts for instance. You know that you have 4 hours in between one chart closing and maybe taking a trade if you see something and then, any potential new trade setup you got 4 hours to go and do whatever you want, get away from the computer whatever it might be.
 
So that’s the lifestyle and keeping away from the screen is one major benefit.
 

*
Higher Returns. The other of course is higher returns because generally on your longer time frame charts you generally get a higher reward to risk out of the trade. Spread becomes less of an issue and so you generally find that you’re able to achieve far greater returns from the longer time frame charts. I, very often achieve 2, 3 or 4 times my risk depending on what the charts setup is but generally on the longer time frame charts. It’s a lot harder to achieve those high returns on a 5-minute charts for instance. You’re going to catch a good run every so often but not only do you need to be there all the time. It’s a lot harder to gain a trade that’s let’s say got a 15 pip stop loss and a 60 pip profit and get that profit more often than not. It’s a lot harder to do that on a short time frame chart.

*
High Reliability. The other thing with the high time frame charts of course is the high reliability....]]>418falsefullhttps://www.spreaker.com/episode/big-moves-big-trends-and-better-trading-conditions--12239785Big Moves, Big Trends and Better Trading Conditions
In this video:
00:40    Big moves on the USD/JPY
02:10     The importance of trading what you see and not what you think
04:19     The safest way to trade during Non Farm Payroll
We’ve seen some big moves in the Forex Market this week. Have you made money from those big moves?
Let’s talk about that right now.
Hi Forex traders it’s Andrew Mitchem here and I’m the owner of the Forex Trading Coach and there have been some huge moves on many of the Forex pairs this week.
I want to ask you a very simple question:
Have you benefited from that?
Have you profited?
Have you made money this week from those big moves?
Because over the last couple of years we’ve seen some fairly average and ordinary, difficult trading conditions when the market has been quite flat and it’s been up one day and it’s been down and up and down. It’s been quite difficult. But this last couple of weeks, we’ve seen some huge moves on many of the pairs especially the U.S. and also the Japanese Yen so question again:
Have you profited from that?
Because  the setups have been there,  there have been big moves, big trends and it’s been relatively; I don’t like to use the word “easy” but it’s been a lot better trading conditions for trading and making good profits when you get those big runs, it’s been across all time frames.  So let’s talk about a few of those because the issue that people have; I’ll give you a classic example.
I was talking to a client of mine who lives in the U.S. this morning and he was saying, “Hey Andrew with this USD/JPY, you know you get to stay, “Do you think, can’t it get any further?” “No surely it can’t go further”. And the problem is then your mind set to start to take over and people over complicate things. They way that I like to trade is I see what’s happening on the chart and make a decision from there.
When the U.S. /Yen got up to 110.00 a lot of people are saying, “Well I can’t go any further.” You know it’s a big strong psychological resistance area. Big barrier 110, it’s not going further, it’s going to come back surely. And it hasn’t, it just continued to go through 111, 112, 113, 114. The next big barrier is 115 and right now as I’m recording this it’s around about 115.00 just to touch over.
The Importance Of Trading What You See
It could pull back today slightly but the 115 you know is not the end of the run? The charts will tell us that but it’s really important to then trade what you see on the charts not what you think and you don’t need to over complicate your trading. The charts say that the bullish run is lightly to continue. Look for buy trades on the U.S. /Yen on the daily charts or any other time frame charts that you wish.
Now , I’ve been calling buy trades for my clients for the last two weeks on the weekly charts because of the strong bullish nature of the U.S. /Yen. I’ve also on many of the days over the last couple of weeks been calling for not only the U.S. /Yen pair to look for buy trades but all round I’ve been looking for predominant strength in the U.S. Dollar (USD) and weakness in the Japanese Yen (JPY). The Yen and the U.S. have been at the strong and the weak pairs against a lot of other currencies as well. So it’s been plenty of really good opportunities there anything short against the U.S. with the U.S. strength and anything buying against the Yen with the Japanese Yen (JPY) weakness.
As I’ve said I’ve been calling those to my clients and also freely available in a slightly reduced form but freely available on my website on the News Tab and also on Forex Peace Army, Facebook, etc. like that.
Also the Gold and Silver has been affected a lot as well because the U.S. /Yen is now at a level not seen since 2007,]]>http://theforextradingcoach.com/?p=5088Sun, 09 Nov 2014 19:09:34 +0000Andrew MitchemPodcast: Big Moves, Big Trends and Better Trading Conditions In this video: 00:40    Big moves on the USD/JPY 02:10     The importance of trading what you see and not what you think 04:19     The safest way to trade during Non Farm Payroll We’ve...Big Moves, Big Trends and Better Trading Conditions
In this video:
00:40    Big moves on the USD/JPY
02:10     The importance of trading what you see and not what you think
04:19     The safest way to trade during Non Farm Payroll
We’ve seen some big moves in the Forex Market this week. Have you made money from those big moves?
Let’s talk about that right now.
Hi Forex traders it’s Andrew Mitchem here and I’m the owner of the Forex Trading Coach and there have been some huge moves on many of the Forex pairs this week.
I want to ask you a very simple question:
Have you benefited from that?
Have you profited?
Have you made money this week from those big moves?
Because over the last couple of years we’ve seen some fairly average and ordinary, difficult trading conditions when the market has been quite flat and it’s been up one day and it’s been down and up and down. It’s been quite difficult. But this last couple of weeks, we’ve seen some huge moves on many of the pairs especially the U.S. and also the Japanese Yen so question again:
Have you profited from that?
Because  the setups have been there,  there have been big moves, big trends and it’s been relatively; I don’t like to use the word “easy” but it’s been a lot better trading conditions for trading and making good profits when you get those big runs, it’s been across all time frames.  So let’s talk about a few of those because the issue that people have; I’ll give you a classic example.
I was talking to a client of mine who lives in the U.S. this morning and he was saying, “Hey Andrew with this USD/JPY, you know you get to stay, “Do you think, can’t it get any further?” “No surely it can’t go further”. And the problem is then your mind set to start to take over and people over complicate things. They way that I like to trade is I see what’s happening on the chart and make a decision from there.
When the U.S. /Yen got up to 110.00 a lot of people are saying, “Well I can’t go any further.” You know it’s a big strong psychological resistance area. Big barrier 110, it’s not going further, it’s going to come back surely. And it hasn’t, it just continued to go through 111, 112, 113, 114. The next big barrier is 115 and right now as I’m recording this it’s around about 115.00 just to touch over.
The Importance Of Trading What You See
It could pull back today slightly but the 115 you know is not the end of the run? The charts will tell us that but it’s really important to then trade what you see on the charts not what you think and you don’t need to over complicate your trading. The charts say that the bullish run is lightly to continue. Look for buy trades on the U.S. /Yen on the daily charts or any other time frame charts that you wish.
Now , I’ve been calling buy trades for my clients for the last two weeks on the weekly charts because of the strong bullish nature of the U.S. /Yen. I’ve also on many of the days over the last couple of weeks been calling for not only the U.S. /Yen pair to look for buy trades but all round I’ve been looking for predominant strength in the U.S. Dollar (USD) and weakness in the Japanese Yen (JPY). The Yen and the U.S. have been at the strong and the weak pairs against a lot of other currencies as well. So it’s been plenty of really good opportunities there anything short against the U.S. with the U.S. strength and anything buying against the Yen with the Japanese Yen (JPY) weakness.
As I’ve said I’ve been calling those to my clients and also freely available in a slightly reduced form but freely available on my website on the News Tab and also on Forex Peace Army, Facebook, etc. like that.
Also the Gold and Silver has been affected a lot as well because the U.S. /Yen is now at a level not seen since 2007,]]>311falsefullhttps://www.spreaker.com/episode/understanding-leverage-margin-and-risk-in-forex-trading--12239784Understanding Leverage, Margin and Risk In Forex Trading
In this video:
00:27   How leverage, margin and risk affect Forex traders
03:48   Different scenarios regarding pips
05:32   A really good month of October with +8.5% return
 
The Difference Between Leverage, Margin and Risk in Forex Trading
 
As Forex traders you need to understand the difference between leverage, margin and risk. So let’s talk about that right now.
 
Hi Forex traders, it’s Andrew Mitchem here, The Forex Trading Coach and in today’s video and podcast I’m going to be answering a question that I’ve had, emailed through to me from Tom and he said, “Hey Andrew can you explain about leverage and margin and risk and how it affects us as Forex traders.
 
And so if you have any questions that you would like me to answer along those type of lines, any topics that you have please do send me an email and I’ll do my best to answer those for you on future videos and podcasts.
 
So let’s talk about leverage to start with.
Leverage: Leverage really is how much of your broker’s money you can use and brokers can vary between 10-1, 50-1, 100-1, right up to about 400-1 leverage. Personally I’ve always used 100-1.
Now that if you’re in the U.S.  of course you do have some restrictions but really leverage isn’t so much an issue if you have sensible low risk control trading approach. If you have ridiculously high risk then leverage does become an issue and having a low leverage such as what you can have in the U.S. does become more of an issue.
 
But really the way that I trade which is as a business and to treat trading seriously low risk; 100-1 leverage is absolutely ample.
Margin: The second thing – margin. Really what the margin is how much money is available in your account. So money that is not currently tied up in any open trades, how much do you left there to trade with. You don’t ever need to get into a situation where you have a margin call and that’s when you don’t have enough money left in your account to cover your open positions and your broker will close all your positions and generally that’s end of your account.
Now you really should never ever get to that situation. Again if you do, it means that you’re just gambling with your trading.

Risk: That’s really one thing that you can control yourself and it is s personal type of thing but it is really important to understand the risk properly. Now with the way that I personally trade and the way that I teach people to trade is I risk no more than half of 1% (0.5%) of my account on any one trade. Now that doesn’t matter what the time frame of the chart is, what day of the week it is, what currency pair is, whether will be a buying or selling, pending order or market order; it doesn’t matter. 0.5% is the maximum that I would trade on any one trade.
Sometimes it’s a quarter percent but if 1% is what you are comfortable with then use 1% but personally I think 0.5% is plenty. What it does is it helps you to take trades on any time frame charts and it also helps to keep your emotions under control within your trading because you know the very worse you can do is lose half of 1%. So it means that if trades happen to stay on why you’ve got to work while you’re sleeping or while you’re away from your computer that doesn’t really matter because you have your stop loss in place and you know that X numbers of Dollars or Pounds or Yen or whatever it is that’s in your account is the most that you can lose if that trade gets stopped out.
Now I've just came off a Skype call with a guy in Perth and I’ve just explained risk to him as well because to start with we were talking about pips and I was explaining why to me pips are not really that important.]]>http://theforextradingcoach.com/?p=5079Sun, 02 Nov 2014 08:16:07 +0000Andrew MitchemPodcast:  Understanding Leverage, Margin and Risk In Forex Trading In this video: 00:27   How leverage, margin and risk affect Forex traders 03:48   Different scenarios regarding pips 05:32   A really good month of October with +8.5% return   The...Understanding Leverage, Margin and Risk In Forex Trading
In this video:
00:27   How leverage, margin and risk affect Forex traders
03:48   Different scenarios regarding pips
05:32   A really good month of October with +8.5% return
 
The Difference Between Leverage, Margin and Risk in Forex Trading
 
As Forex traders you need to understand the difference between leverage, margin and risk. So let’s talk about that right now.
 
Hi Forex traders, it’s Andrew Mitchem here, The Forex Trading Coach and in today’s video and podcast I’m going to be answering a question that I’ve had, emailed through to me from Tom and he said, “Hey Andrew can you explain about leverage and margin and risk and how it affects us as Forex traders.
 
And so if you have any questions that you would like me to answer along those type of lines, any topics that you have please do send me an email and I’ll do my best to answer those for you on future videos and podcasts.
 
So let’s talk about leverage to start with.
Leverage: Leverage really is how much of your broker’s money you can use and brokers can vary between 10-1, 50-1, 100-1, right up to about 400-1 leverage. Personally I’ve always used 100-1.
Now that if you’re in the U.S.  of course you do have some restrictions but really leverage isn’t so much an issue if you have sensible low risk control trading approach. If you have ridiculously high risk then leverage does become an issue and having a low leverage such as what you can have in the U.S. does become more of an issue.
 
But really the way that I trade which is as a business and to treat trading seriously low risk; 100-1 leverage is absolutely ample.
Margin: The second thing – margin. Really what the margin is how much money is available in your account. So money that is not currently tied up in any open trades, how much do you left there to trade with. You don’t ever need to get into a situation where you have a margin call and that’s when you don’t have enough money left in your account to cover your open positions and your broker will close all your positions and generally that’s end of your account.
Now you really should never ever get to that situation. Again if you do, it means that you’re just gambling with your trading.

Risk: That’s really one thing that you can control yourself and it is s personal type of thing but it is really important to understand the risk properly. Now with the way that I personally trade and the way that I teach people to trade is I risk no more than half of 1% (0.5%) of my account on any one trade. Now that doesn’t matter what the time frame of the chart is, what day of the week it is, what currency pair is, whether will be a buying or selling, pending order or market order; it doesn’t matter. 0.5% is the maximum that I would trade on any one trade.
Sometimes it’s a quarter percent but if 1% is what you are comfortable with then use 1% but personally I think 0.5% is plenty. What it does is it helps you to take trades on any time frame charts and it also helps to keep your emotions under control within your trading because you know the very worse you can do is lose half of 1%. So it means that if trades happen to stay on why you’ve got to work while you’re sleeping or while you’re away from your computer that doesn’t really matter because you have your stop loss in place and you know that X numbers of Dollars or Pounds or Yen or whatever it is that’s in your account is the most that you can lose if that trade gets stopped out.
Now I've just came off a Skype call with a guy in Perth and I’ve just explained risk to him as well because to start with we were talking about pips and I was explaining why to me pips are not really that important.]]>401falsefullhttps://www.spreaker.com/episode/currency-strength-and-the-use-of-bollinger-bands--12239786Currency Strength and the use of Bollinger Bands
In this video:
00:31   Currency strength and weakness analysis
03:22   Trading with Bollinger Bands
05:07   Identifying the right part of the chart
In today’s video and podcast I’m going to explain how I trade with currency strength and weakness each day and also I’ve got a question that I like to answer regarding the use of Bollinger Bands. So let’s get into that and explain more right now.
 
Hi Forex traders, it’s Andrew Mitchem here, The Forex Trading Coach. And I’d like to answer a couple of questions that I’ve been asked over the last couple of weeks from people and the first one relates to the currency strength and weakness analysis that I post each day on my website. I post also in a number of other sites such as Forex Peace Army where I’m one of the giants on that site. The way that I like to use that is if I’m seeing strength in a particular currency pair let’s say the Euro/U.S. Dollar (EUR/USD) as an example. Let’s say I’m seeing strength, I’m looking for predominantly buy positions.
What that means is overall, I’m looking for a lot of strength in the Euro currency and at the same time I’m seeing weakness in the U.S. Dollar (USD). Put that together, the Euro and the U.S. as the currency pair because of course we have to trade in pairs as Forex traders. That means that ideally I’m looking for the Euro against the U.S. to rise in the value over the next 24 hours.
The Practical Way Of Trading
So as a practical way of trading that, what that means is if I’m looking at the Euro/U.S. Dollar (EUR/USD) and I’ve identified that and I see buy trade setups on any other shorter time frame charts that day, that to me has to have a lot of extra strength and probability about those trades working and working in other words getting to the profit targets and in my favor.
Now that means that I have the longer time frame charts showing a likelihood of the Euro/U.S. Dollar (EUR/USD) moving up, it means that when I take my trade maybe it’s the 4-hour chart or the 1-hour chart or even down to a 5-minute chart whatever it is, if I see a buy trade I’m trading with that likely overall direction. So think about the probabilities because trading and technical trading does come down largely to probabilities. The probability is I’m trading with the main trend. If the setup is good enough and I have my stop loss and my profit target in place at correct technical levels therefore the trade has a high probability of working than taking sell trades on that day.
Let’s say that over the course of the day the Euro/U.S. Dollar (EUR/UDSD) just falls and falls and falls and I’ve said I’m looking for buy trades. What that means is the likelihood of me taking a buy trade is very, very small because I’m not likely to see any good setups if the currency pair has just fallen all day. So although it means that it’s not ended the day in the direction that I was ideally looking for, it means on the shorter time frame charts I probably haven’t lost anything because I haven’t taken any new trade setups. So there has to be; when you think about that a lot of benefits of identifying strength and weakness and trading in those directions for that day.
So that’s the first question.
The Use Of Bollinger Bands
The second question I’ve had, it has to do with Bollinger Bands and the use of Bollinger Bands (because I’m not sure if you can see behind me here on my screen), I do use Bollinger Bands. It’s one of the few standard indicators that I use. I don’t take it as such as, like to identify a trade setup as such. I’m not using whether it’s bounce up a Bollinger Band or hit it or move down and whatever it might be, I’m not doing that.
What I’m doing is I’m using Bollinger Bands to help identify what part of the chart the price is in r...]]>http://theforextradingcoach.com/?p=5068Sat, 25 Oct 2014 21:09:55 +0000Andrew MitchemPodcast:  Currency Strength and the use of Bollinger Bands In this video: 00:31   Currency strength and weakness analysis 03:22   Trading with Bollinger Bands 05:07   Identifying the right part of the chart In today’s video and podcast I’m going to...Currency Strength and the use of Bollinger Bands
In this video:
00:31   Currency strength and weakness analysis
03:22   Trading with Bollinger Bands
05:07   Identifying the right part of the chart
In today’s video and podcast I’m going to explain how I trade with currency strength and weakness each day and also I’ve got a question that I like to answer regarding the use of Bollinger Bands. So let’s get into that and explain more right now.
 
Hi Forex traders, it’s Andrew Mitchem here, The Forex Trading Coach. And I’d like to answer a couple of questions that I’ve been asked over the last couple of weeks from people and the first one relates to the currency strength and weakness analysis that I post each day on my website. I post also in a number of other sites such as Forex Peace Army where I’m one of the giants on that site. The way that I like to use that is if I’m seeing strength in a particular currency pair let’s say the Euro/U.S. Dollar (EUR/USD) as an example. Let’s say I’m seeing strength, I’m looking for predominantly buy positions.
What that means is overall, I’m looking for a lot of strength in the Euro currency and at the same time I’m seeing weakness in the U.S. Dollar (USD). Put that together, the Euro and the U.S. as the currency pair because of course we have to trade in pairs as Forex traders. That means that ideally I’m looking for the Euro against the U.S. to rise in the value over the next 24 hours.
The Practical Way Of Trading
So as a practical way of trading that, what that means is if I’m looking at the Euro/U.S. Dollar (EUR/USD) and I’ve identified that and I see buy trade setups on any other shorter time frame charts that day, that to me has to have a lot of extra strength and probability about those trades working and working in other words getting to the profit targets and in my favor.
Now that means that I have the longer time frame charts showing a likelihood of the Euro/U.S. Dollar (EUR/USD) moving up, it means that when I take my trade maybe it’s the 4-hour chart or the 1-hour chart or even down to a 5-minute chart whatever it is, if I see a buy trade I’m trading with that likely overall direction. So think about the probabilities because trading and technical trading does come down largely to probabilities. The probability is I’m trading with the main trend. If the setup is good enough and I have my stop loss and my profit target in place at correct technical levels therefore the trade has a high probability of working than taking sell trades on that day.
Let’s say that over the course of the day the Euro/U.S. Dollar (EUR/UDSD) just falls and falls and falls and I’ve said I’m looking for buy trades. What that means is the likelihood of me taking a buy trade is very, very small because I’m not likely to see any good setups if the currency pair has just fallen all day. So although it means that it’s not ended the day in the direction that I was ideally looking for, it means on the shorter time frame charts I probably haven’t lost anything because I haven’t taken any new trade setups. So there has to be; when you think about that a lot of benefits of identifying strength and weakness and trading in those directions for that day.
So that’s the first question.
The Use Of Bollinger Bands
The second question I’ve had, it has to do with Bollinger Bands and the use of Bollinger Bands (because I’m not sure if you can see behind me here on my screen), I do use Bollinger Bands. It’s one of the few standard indicators that I use. I don’t take it as such as, like to identify a trade setup as such. I’m not using whether it’s bounce up a Bollinger Band or hit it or move down and whatever it might be, I’m not doing that.
What I’m doing is I’m using Bollinger Bands to help identify what part of the chart the price is in r...]]>359falsefullhttps://www.spreaker.com/episode/understanding-how-the-forex-market-works--12239788Understanding How The Forex Market Works
In this video:
00:12   Understanding the market
04:03   Profitable trades especially on the 4-hour charts
05:38   Really amazing trade on a gold trade
 
Understanding How The Market Works
Hi traders, in today’s video I want to explain the importance of being able to read and understand the market and then talk about the results that will surely follow once you have an understanding of how the market works.
Let’s get into that right now.
Hi traders, it’s Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 17th of October and I want to talk about the importance of learning to read the market and understand the market because it’s a common problem so many traders especially new traders have. Actually a lot of people that I talk to who have been trading for number of years though still do not really have a very good understanding of the market and there’s a number of reasons for that.
But one of the most common reasons is so many people use the standard indicators. When you look at any charting package, when you look at any online reviews or sites or whatever it might be, forums, etc., everybody’s talking about using the standard indicators. Yet when you think about it almost everybody gets the same results which are not good so there’s got to be some form of correlation there when you think of the logic behind that.
The problem is, that so many indicators whether they’ll be good or bad doesn’t really matter. The problem is they don’t really teach you how to read what’s happening in the market right now and to look at what’s happened previously and to make a judgment based on what’s happening right now. You see, the problem is with indicators is not only to most of them lag time and price really badly is that people get so focused on looking at where the line is, what’s crossing over something else, whether it’s overboard or oversold, you know, X crosses Y and ends up being something else, you know, it’s just a complete and becomes too much focused on the indicator rather than focused on the actual price. That also applies to people who trade robots and try to create systems that are automated, that happens as well because you don’t get to understand what’s happening in the market.
The way that I like to trade and also to teach my clients is to gain an understanding and read the market, read the charts, read the right hand side of the chart. Look at what’s happening right now in the market.
Are there more buyers in the market right now?
Are there more sellers?
Is the price being pushed up?
Is the price being pushed down?
And Why?
I’m looking at support and resistance level whether they be, previous swing highs or lows, or pivot points or round numbers, whatever it is let’s see the process moved up to this level.
Why is it moved up to there?
Is that a significant round number?
Is that a significant bounce?
Has the price bounced there previously in the past?
If it has and you see a good candle formation occurring at that same level then surely that has to add to the probability of that trade being a profitable trade because you’re taking a trade at a level for a specific reason based on what’s happened previously and you know that the price bounced there previously, you’re getting some indecision and then some confirmation whether it’s go long or short and then you’re taking your trade at a level that in the past you’ve seen this  being a significant price action at that level.
What Really Counts
So it’s getting to understand that type of information within the market and also having the ability to do that from the right hand side of the chart what’s happening right now. Taking trades in hindsight you know back testing it’s all we...]]>http://theforextradingcoach.com/?p=5059Sun, 19 Oct 2014 21:59:18 +0000Andrew MitchemPodcast:  Understanding How The Forex Market Works In this video: 00:12   Understanding the market 04:03   Profitable trades especially on the 4-hour charts 05:38   Really amazing trade on a gold trade   Understanding How The Market Works Hi...Understanding How The Forex Market Works
In this video:
00:12   Understanding the market
04:03   Profitable trades especially on the 4-hour charts
05:38   Really amazing trade on a gold trade
 
Understanding How The Market Works
Hi traders, in today’s video I want to explain the importance of being able to read and understand the market and then talk about the results that will surely follow once you have an understanding of how the market works.
Let’s get into that right now.
Hi traders, it’s Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 17th of October and I want to talk about the importance of learning to read the market and understand the market because it’s a common problem so many traders especially new traders have. Actually a lot of people that I talk to who have been trading for number of years though still do not really have a very good understanding of the market and there’s a number of reasons for that.
But one of the most common reasons is so many people use the standard indicators. When you look at any charting package, when you look at any online reviews or sites or whatever it might be, forums, etc., everybody’s talking about using the standard indicators. Yet when you think about it almost everybody gets the same results which are not good so there’s got to be some form of correlation there when you think of the logic behind that.
The problem is, that so many indicators whether they’ll be good or bad doesn’t really matter. The problem is they don’t really teach you how to read what’s happening in the market right now and to look at what’s happened previously and to make a judgment based on what’s happening right now. You see, the problem is with indicators is not only to most of them lag time and price really badly is that people get so focused on looking at where the line is, what’s crossing over something else, whether it’s overboard or oversold, you know, X crosses Y and ends up being something else, you know, it’s just a complete and becomes too much focused on the indicator rather than focused on the actual price. That also applies to people who trade robots and try to create systems that are automated, that happens as well because you don’t get to understand what’s happening in the market.
The way that I like to trade and also to teach my clients is to gain an understanding and read the market, read the charts, read the right hand side of the chart. Look at what’s happening right now in the market.
Are there more buyers in the market right now?
Are there more sellers?
Is the price being pushed up?
Is the price being pushed down?
And Why?
I’m looking at support and resistance level whether they be, previous swing highs or lows, or pivot points or round numbers, whatever it is let’s see the process moved up to this level.
Why is it moved up to there?
Is that a significant round number?
Is that a significant bounce?
Has the price bounced there previously in the past?
If it has and you see a good candle formation occurring at that same level then surely that has to add to the probability of that trade being a profitable trade because you’re taking a trade at a level for a specific reason based on what’s happened previously and you know that the price bounced there previously, you’re getting some indecision and then some confirmation whether it’s go long or short and then you’re taking your trade at a level that in the past you’ve seen this  being a significant price action at that level.
What Really Counts
So it’s getting to understand that type of information within the market and also having the ability to do that from the right hand side of the chart what’s happening right now. Taking trades in hindsight you know back testing it’s all we...]]>436falsefullhttps://www.spreaker.com/episode/why-you-need-a-backup-plan-when-trading-forex--12239787Why You Need A Backup Plan When Trading Forex
In this video:
00:58    The Importance of computer backups
03:10    Having a VPS
04:32    A lot of success in 12-hour chart trades
 
 Why You Need A Backup Plan In Forex Trading
 Do you have yourself a backup if your computer crashes and everything goes wrong? Let me explain exactly what I mean right now.
 Hi Forex traders, it’s Andrew Mitchem here and I’m the owner of The Forex Trading Coach and I want to talk about having a backup plan. Well we allu have plans in our trading and everything else that goes on but do you have a backup plan if the worse happens to your computer?
 Now the reason why I want to talk about this is because I’ve had this exact the same experience myself just last week. I’ve had a number of issues with my computer, it wouldn't start and I took  it to the computer shop but luckily because I have a plan, first of all I’ve got a very reliable computer shop who look after me but also I have everything backed up.
Backing Up Your Information
Now it’s important that you have things like Google Drive or Dropbox, you have your computer, your software backed up to maybe a portable hard drive or even backed up incrementally offsite so it's stored on another server elsewhere whatever it is, make sure that you have that in place.
Also if you are using a desktop all of the time for your main trading like I do when I’m trading here from my home;

*
Make sure that you have a laptop and it’s up to date

*
Make sure you have all your trading software on there

*
Make sure that you have copies of if you’re using MT4 let’s say, like I do

*
Make sure you have your indicators, your scripts, any robots, your profiles, your templates, everything backed up


 
So all you need to do is either download another version of the platform or get it straight off for the backup file whatever it is that you have. But it’s really important that you have everything ready to go.
The other thing also to consider of course is an Internet backup. Now personally if I ever not only do I have two separate connections one hard-wired and one wireless , I also have an iPhone hotspot if I ever need it and of course for travelling that’s just fantastic because it allows you to just trade off your laptop.
Do you have an iPad or tablet? Do you can or do you trade off your phone whatever it is make sure that you have a good number of reliable backup sources that prevents that whole panic from happening. Because when your computer does go wrong, you get a virus or something goes electrical fault whatever it might be. It’s never you know at the best time and there never is a good time. So you want to try to eliminate as much of that headache and stress as possible when that happens. Now this is especially true if you have trades open, now of course you need to potentially have your broker’s email address and phone number handy. Don’t make it something that’s a headache to find. All those things in place having a plan will really help you should the worse go wrong.
The other thing to consider also is a VPS, a virtual server so maybe like a shared virtual server so you can have your trading platform on there, which means that you can login at any computer anywhere and have your trading platform up and running without needing your own computer so it’s a really important point. It’s not something that a lot of people discuss but like I said when the worse happens and things go wrong make sure that you have a plan ready in place that doesn’t interrupt your trading at all.
 
Current Market Conditions
The other thing I want to talk about of course just the market conditions. I think the market conditions right now are pretty tough to be trading r...]]>http://theforextradingcoach.com/?p=5049Sun, 12 Oct 2014 08:10:27 +0000Andrew MitchemPodcast:  Why You Need A Backup Plan When Trading Forex In this video: 00:58    The Importance of computer backups 03:10    Having a VPS 04:32    A lot of success in 12-hour chart trades    Why You Need A Backup Plan In Forex Trading  Do you have...Why You Need A Backup Plan When Trading Forex
In this video:
00:58    The Importance of computer backups
03:10    Having a VPS
04:32    A lot of success in 12-hour chart trades
 
 Why You Need A Backup Plan In Forex Trading
 Do you have yourself a backup if your computer crashes and everything goes wrong? Let me explain exactly what I mean right now.
 Hi Forex traders, it’s Andrew Mitchem here and I’m the owner of The Forex Trading Coach and I want to talk about having a backup plan. Well we allu have plans in our trading and everything else that goes on but do you have a backup plan if the worse happens to your computer?
 Now the reason why I want to talk about this is because I’ve had this exact the same experience myself just last week. I’ve had a number of issues with my computer, it wouldn't start and I took  it to the computer shop but luckily because I have a plan, first of all I’ve got a very reliable computer shop who look after me but also I have everything backed up.
Backing Up Your Information
Now it’s important that you have things like Google Drive or Dropbox, you have your computer, your software backed up to maybe a portable hard drive or even backed up incrementally offsite so it's stored on another server elsewhere whatever it is, make sure that you have that in place.
Also if you are using a desktop all of the time for your main trading like I do when I’m trading here from my home;

*
Make sure that you have a laptop and it’s up to date

*
Make sure you have all your trading software on there

*
Make sure that you have copies of if you’re using MT4 let’s say, like I do

*
Make sure you have your indicators, your scripts, any robots, your profiles, your templates, everything backed up


 
So all you need to do is either download another version of the platform or get it straight off for the backup file whatever it is that you have. But it’s really important that you have everything ready to go.
The other thing also to consider of course is an Internet backup. Now personally if I ever not only do I have two separate connections one hard-wired and one wireless , I also have an iPhone hotspot if I ever need it and of course for travelling that’s just fantastic because it allows you to just trade off your laptop.
Do you have an iPad or tablet? Do you can or do you trade off your phone whatever it is make sure that you have a good number of reliable backup sources that prevents that whole panic from happening. Because when your computer does go wrong, you get a virus or something goes electrical fault whatever it might be. It’s never you know at the best time and there never is a good time. So you want to try to eliminate as much of that headache and stress as possible when that happens. Now this is especially true if you have trades open, now of course you need to potentially have your broker’s email address and phone number handy. Don’t make it something that’s a headache to find. All those things in place having a plan will really help you should the worse go wrong.
The other thing to consider also is a VPS, a virtual server so maybe like a shared virtual server so you can have your trading platform on there, which means that you can login at any computer anywhere and have your trading platform up and running without needing your own computer so it’s a really important point. It’s not something that a lot of people discuss but like I said when the worse happens and things go wrong make sure that you have a plan ready in place that doesn’t interrupt your trading at all.
 
Current Market Conditions
The other thing I want to talk about of course just the market conditions. I think the market conditions right now are pretty tough to be trading r...]]>389falsefullhttps://www.spreaker.com/episode/why-not-looking-at-your-account-balance-can-be-beneficial-to-your-forex-trading-results--12239797Why not looking at your account balance can be beneficial to your Forex trading results
In this video:
01:32   Having controlled low risk
03:15   Taking all the emotions out of your trading
04:13   Made a total of 2.3% on a 1-hour trade
05:18   The Lesson: Forget about making pips
In today’s video and podcast I’m going to explain to you why not looking at your account balance can be really beneficial to your Forex trading results. Let me share more details with you right now.
Hi Traders, it’s Andrew Mitchem here from, The Forex Trading Coach and today, is Non-Farm Payroll day. It’s the Friday, the 3rd of October so be really careful with your trading into the U.S. session today with that U.S. job employment data news coming out later.
Don’t Look At Your Account Balance
But the main point that I want to carry on in today’s video and podcast is why I think it’s really beneficial and how it can help you with your trading, with the emotional aspect of your trading and the psychology behind trading by not looking at your account balance when you’re taking trades.
Now, what I mean by that is, a couple of things depending on which side you are. If you have a relatively small account it becomes really quite easy in destracting and that a lot of people like to take too bigger risks.
You know they say, “Well, I’ve only got a thousand dollars, it doesn’t matter if I lose it therefore I’m going to take "x" amount of risk.” And it might be something that might be risking let’s say $100 on a particular trade. Now if you’re doing that you’re actually risking of course 10% of your account which is far too much. So rather than doing that I think it’s far more beneficial to forget what your account size is right now and look at trading an equal amount of risk per trade and having controlled, low risk. That’s the important thing.
So when I’m trading myself I trade at no more than 0.5% so half of 1% of my account risk on any one trade. That’s the maximum I can lose. I know that in advance but it doesn’t matter what the currency pair is, what the type of trade is, what the time frame of the trade is whether it’s reversal or continuation, it’s a breakout, whatever it is, it doesn’t matter how many pips the trade is risking. If it loses it doesn’t matter how many pips the trade loses because I know I have a set amount of risk, an equal amount of risk in every single one of my trades and that really helps you with the understanding, the psychology, the emotions of your trading.
Take it to the other extreme. If you’ve got a large account let’s say you had a million dollar account. The trouble is when you’re looking at your account balance all the time, is that, the emotions come into it in a different way and it makes you hesitant, it makes you really, “Well, do I take the trade, should I close the trade early?”. You become really hesitant because you could see it your account going up in hundreds or thousands of dollars up and down all the time and it’s very easy to want to take the trade in terms of taking the profits slightly early or meddling with the trade too much. Whereas if you know you have a set amount risk on that trade, again half of 1% (0.5%) then you become comfortable with the trade because you’re not looking at the dollars or the pounds or the yen whatever your currency.
You’re not looking at the amount you’re making, you’re looking at the percentage that you risk as opposed to the percentage that you make on a trade as a far better way of trading. It takes all the emotion out of your trading. So it’s a really important point there.
In terms of percentages we’ll I had a live webinar, (2 ½ hour live webinar) with my clients last night. I had a client who’s been with me for just over 3 years now. He lives in Canada,]]>http://theforextradingcoach.com/?p=5040Sat, 04 Oct 2014 23:56:00 +0000Andrew MitchemPodcast:  Why not looking at your account balance can be beneficial to your Forex trading results In this video: 01:32   Having controlled low risk 03:15   Taking all the emotions out of your trading 04:13   Made a total of 2.3% on a 1-hour trade...Why not looking at your account balance can be beneficial to your Forex trading results
In this video:
01:32   Having controlled low risk
03:15   Taking all the emotions out of your trading
04:13   Made a total of 2.3% on a 1-hour trade
05:18   The Lesson: Forget about making pips
In today’s video and podcast I’m going to explain to you why not looking at your account balance can be really beneficial to your Forex trading results. Let me share more details with you right now.
Hi Traders, it’s Andrew Mitchem here from, The Forex Trading Coach and today, is Non-Farm Payroll day. It’s the Friday, the 3rd of October so be really careful with your trading into the U.S. session today with that U.S. job employment data news coming out later.
Don’t Look At Your Account Balance
But the main point that I want to carry on in today’s video and podcast is why I think it’s really beneficial and how it can help you with your trading, with the emotional aspect of your trading and the psychology behind trading by not looking at your account balance when you’re taking trades.
Now, what I mean by that is, a couple of things depending on which side you are. If you have a relatively small account it becomes really quite easy in destracting and that a lot of people like to take too bigger risks.
You know they say, “Well, I’ve only got a thousand dollars, it doesn’t matter if I lose it therefore I’m going to take "x" amount of risk.” And it might be something that might be risking let’s say $100 on a particular trade. Now if you’re doing that you’re actually risking of course 10% of your account which is far too much. So rather than doing that I think it’s far more beneficial to forget what your account size is right now and look at trading an equal amount of risk per trade and having controlled, low risk. That’s the important thing.
So when I’m trading myself I trade at no more than 0.5% so half of 1% of my account risk on any one trade. That’s the maximum I can lose. I know that in advance but it doesn’t matter what the currency pair is, what the type of trade is, what the time frame of the trade is whether it’s reversal or continuation, it’s a breakout, whatever it is, it doesn’t matter how many pips the trade is risking. If it loses it doesn’t matter how many pips the trade loses because I know I have a set amount of risk, an equal amount of risk in every single one of my trades and that really helps you with the understanding, the psychology, the emotions of your trading.
Take it to the other extreme. If you’ve got a large account let’s say you had a million dollar account. The trouble is when you’re looking at your account balance all the time, is that, the emotions come into it in a different way and it makes you hesitant, it makes you really, “Well, do I take the trade, should I close the trade early?”. You become really hesitant because you could see it your account going up in hundreds or thousands of dollars up and down all the time and it’s very easy to want to take the trade in terms of taking the profits slightly early or meddling with the trade too much. Whereas if you know you have a set amount risk on that trade, again half of 1% (0.5%) then you become comfortable with the trade because you’re not looking at the dollars or the pounds or the yen whatever your currency.
You’re not looking at the amount you’re making, you’re looking at the percentage that you risk as opposed to the percentage that you make on a trade as a far better way of trading. It takes all the emotion out of your trading. So it’s a really important point there.
In terms of percentages we’ll I had a live webinar, (2 ½ hour live webinar) with my clients last night. I had a client who’s been with me for just over 3 years now. He lives in Canada,]]>402falsefullhttps://www.spreaker.com/episode/why-having-a-good-forex-mentor-is-critical-to-your-success-as-a-forex-trader--12239792Why Having a Good Forex Mentor is Critical to Your Success as a Forex Trader
In this video:
00:24    A critical aspect of Forex trading journey
01:25    Where do you go for help?
02:17    My longest cross-country helicopter flight experience
 
Why Is It Critical To Have A Good Forex Trading Mentor
I want to talk about why having a good Forex mentor is critical to your success as a Forex trader. Let me explain more details right now.
Hi traders, it’s Andrew Mitchem here, The Forex Trading Coach. And I want to explain about why in my opinion having a good Forex mentor is such a critical aspect of your Forex trading journey.
Now we all know that Forex can be quite a lonely journey. It’s quite a lonely business. A lot of people really don’t understand what it is that we do. You might have a spouse or children or other relatives, friends, etc. who think that you’re doing something a little bit crazy – it might be a “Get Rich Quick” scheme. Some people might just describe it as gambling and so what that does is it puts you on your own and you don’t have (in most times) much of a backup community around you because most people really lack the understanding of what Forex trading actually is.
The other thing about Forex trading of course is it’s very difficult. Make note bones about it. It’s a hard business to be in. If it was that easy then, of course, every will be in it and everybody would be making money really straight forward and easily from their Forex trading and as we know that in reality that is not the case. It is a very difficult business to be in. So it’s lonely, it’s difficult.
Where do you go for help?
Well most people tend to go for help on forums and my opinion of most forums is not particularly high. You tend to find that they become very abusive or they become dominated by people who really don’t have a lot of genuine Forex knowledge. That is the problem with most forums and people tend to jump from one strategy to another and introduce a different indicator, etc. It goes on and on like that.
And so I personally believe that most people, who spend a lot of time in forums giving out advice, are probably not particularly good Forex traders and so taking advice from people like that can sometimes be to your detriment. It’s not a great thing to do although the advice at that time might sound good.
Let me tell you a story about something that I’ve experienced this week.
As you would know as you’ve been following my videos and podcasts, I’ve been learning to fly a helicopter since around mid-January of this year.  And we are now at the end of September so you know I’m coming along fairly good.
On Tuesday I did my longest cross-country flight, it consisted of a 2 ½ hour flight. It was a real challenge. It was really difficult, but I had my instructor with me the whole way. I did most of the flying but he was there to guide me on the difficult bits. If I look back several months ago there was no way I could have even dreamt of getting off the ground all alone flying for 2 ½ hours and following maps etc. and being safe at the same time.
However, on the way home we struck a hill range that we knew we had to go over and there was some very strong gusty winds over 45 knots which you have any knowledge of aviation that’s fairly high strong winds and fairly dangerous winds to fly especially if you’re in a relatively small helicopter and especially if you don’t have a lot of experience and knowledge like myself. Now there was no way I could have done that by myself. It would have been too dangerous, probably wouldn’t be here talking to you today. However, I had my instructor with me and he guided me through. I think it was stage where he took over for around 15 minutes and flew completely by himself to help get me through the leewar...]]>http://theforextradingcoach.com/?p=5033Mon, 29 Sep 2014 06:53:51 +0000Andrew MitchemPodcast:  Why Having a Good Forex Mentor is Critical to Your Success as a Forex Trader In this video: 00:24    A critical aspect of Forex trading journey 01:25    Where do you go for help? 02:17    My longest cross-country helicopter flight...Why Having a Good Forex Mentor is Critical to Your Success as a Forex Trader
In this video:
00:24    A critical aspect of Forex trading journey
01:25    Where do you go for help?
02:17    My longest cross-country helicopter flight experience
 
Why Is It Critical To Have A Good Forex Trading Mentor
I want to talk about why having a good Forex mentor is critical to your success as a Forex trader. Let me explain more details right now.
Hi traders, it’s Andrew Mitchem here, The Forex Trading Coach. And I want to explain about why in my opinion having a good Forex mentor is such a critical aspect of your Forex trading journey.
Now we all know that Forex can be quite a lonely journey. It’s quite a lonely business. A lot of people really don’t understand what it is that we do. You might have a spouse or children or other relatives, friends, etc. who think that you’re doing something a little bit crazy – it might be a “Get Rich Quick” scheme. Some people might just describe it as gambling and so what that does is it puts you on your own and you don’t have (in most times) much of a backup community around you because most people really lack the understanding of what Forex trading actually is.
The other thing about Forex trading of course is it’s very difficult. Make note bones about it. It’s a hard business to be in. If it was that easy then, of course, every will be in it and everybody would be making money really straight forward and easily from their Forex trading and as we know that in reality that is not the case. It is a very difficult business to be in. So it’s lonely, it’s difficult.
Where do you go for help?
Well most people tend to go for help on forums and my opinion of most forums is not particularly high. You tend to find that they become very abusive or they become dominated by people who really don’t have a lot of genuine Forex knowledge. That is the problem with most forums and people tend to jump from one strategy to another and introduce a different indicator, etc. It goes on and on like that.
And so I personally believe that most people, who spend a lot of time in forums giving out advice, are probably not particularly good Forex traders and so taking advice from people like that can sometimes be to your detriment. It’s not a great thing to do although the advice at that time might sound good.
Let me tell you a story about something that I’ve experienced this week.
As you would know as you’ve been following my videos and podcasts, I’ve been learning to fly a helicopter since around mid-January of this year.  And we are now at the end of September so you know I’m coming along fairly good.
On Tuesday I did my longest cross-country flight, it consisted of a 2 ½ hour flight. It was a real challenge. It was really difficult, but I had my instructor with me the whole way. I did most of the flying but he was there to guide me on the difficult bits. If I look back several months ago there was no way I could have even dreamt of getting off the ground all alone flying for 2 ½ hours and following maps etc. and being safe at the same time.
However, on the way home we struck a hill range that we knew we had to go over and there was some very strong gusty winds over 45 knots which you have any knowledge of aviation that’s fairly high strong winds and fairly dangerous winds to fly especially if you’re in a relatively small helicopter and especially if you don’t have a lot of experience and knowledge like myself. Now there was no way I could have done that by myself. It would have been too dangerous, probably wouldn’t be here talking to you today. However, I had my instructor with me and he guided me through. I think it was stage where he took over for around 15 minutes and flew completely by himself to help get me through the leewar...]]>386falsefullhttps://www.spreaker.com/episode/popular-forex-trading-questions--12239794Popular Forex Trading Questions
In this video:
00:25    Fantastic feedback from last week’s video and podcast
01:58    There are no prizes for trading more
03:36    Stick to one strategy
08:00    Why trade Forex
 
Hi, traders. It’s Andrew Mitchem here, the owner of The Forex Trading Coach.
In today’s weekly video and podcast, I’m going to be discussing five more very popular questions that I get asked on a regular basis. So let’s get into that right now.
Hi traders.  Well, following on from the fantastic feedback that I’ve received from last week’s video and podcast, I’ve got five more questions that I’ve been asked, and I get these on a regular basis.  So, I’d like to go through those, because, as I said, the feedback from last week’s was just tremendous, so it’s helping so many of you which is really good feedback, and I’m very pleased to do that.  You know, that’s the aim of these, is to help people progress further with their Forex trading.
So let’s get into the 1st point.
A lot of people say to me, “Hey, look, Andrew, I have a full time job.  I just don’t have the time to dedicate to Forex trading. How can I get into trading with family and life, and children, and sports, and hobbies, etc. How can I get into Forex Trading because I really don’t have a lot of spare time?”
Well, quite simply the answer is this: you don’t have to be trading all of the time. I’ve got a client over in Canada who’s a full time Forex trader, and he trades no more than 4 ½ hours in a week total. That’s it. So you don’t need to be spending hours and hours and hours watching charts, watching every pip move up and down. In fact, I would suggest that you get away from those charts if you are currently looking at those, because so many people spend so much time watching the short time frame charts. Now, it’s really good if you can trade those charts and if you like to trade those and you have the personality to trade those, but I really don’t suggest that most people start at those charts.
There’s a phrase that I use all the time and it’s called, “There are no prizes for trading more.” When you think about that, it’s so true. You don’t have to be trading all of the time in order to do really well, because if you do that you’re going to burn yourself out, you probably not enjoy your trading, and all you’re doing is feeding your broker’s pocket which you don’t want to be doing.
So, my suggestion if you have a full time job and you don’t have a lot of time to dedicate to trading is get to the longer time frame charts. Look at the 4-hour charts or the daily charts or the weekly charts or even out to the monthly charts. You know those longer time frame charts show some fantastic trading opportunities with very high reward to risk trades, and it just means you put the trade on and basically walk away and leave it for a number of hours, a number of days. You don’t have to be there watching the charts all of the time. So please try and get away from the, a lot of people had the mentality, because it’s out there on the Internet, on forums, that you have to be trading 5-minute charts and 15-minute charts.  You don’t.  You don’t have to do that. Get to the longer time frame charts. So, I hope that helps.
Another question: “Andrew I keep jumping from one system to the next system. Help me.”
Look, I used to do that as well, so I have full understanding and appreciation of the draw out there in terms of emails that you get all the time, new systems and strategies, forums telling you, starting new threads, someone’s found the latest greatest robot EA, you know it’s out there all the time.
What I would suggest you do is you either stick to one strategy or you develop your own strategy.  If you want to buy a course or a strategy such as mine, that’s fine.]]>http://theforextradingcoach.com/?p=5025Sun, 21 Sep 2014 19:14:05 +0000Andrew MitchemPodcast:  Popular Forex Trading Questions In this video: 00:25    Fantastic feedback from last week’s video and podcast 01:58    There are no prizes for trading more 03:36    Stick to one strategy 08:00    Why trade Forex   Hi, traders. It’s...Popular Forex Trading Questions
In this video:
00:25    Fantastic feedback from last week’s video and podcast
01:58    There are no prizes for trading more
03:36    Stick to one strategy
08:00    Why trade Forex
 
Hi, traders. It’s Andrew Mitchem here, the owner of The Forex Trading Coach.
In today’s weekly video and podcast, I’m going to be discussing five more very popular questions that I get asked on a regular basis. So let’s get into that right now.
Hi traders.  Well, following on from the fantastic feedback that I’ve received from last week’s video and podcast, I’ve got five more questions that I’ve been asked, and I get these on a regular basis.  So, I’d like to go through those, because, as I said, the feedback from last week’s was just tremendous, so it’s helping so many of you which is really good feedback, and I’m very pleased to do that.  You know, that’s the aim of these, is to help people progress further with their Forex trading.
So let’s get into the 1st point.
A lot of people say to me, “Hey, look, Andrew, I have a full time job.  I just don’t have the time to dedicate to Forex trading. How can I get into trading with family and life, and children, and sports, and hobbies, etc. How can I get into Forex Trading because I really don’t have a lot of spare time?”
Well, quite simply the answer is this: you don’t have to be trading all of the time. I’ve got a client over in Canada who’s a full time Forex trader, and he trades no more than 4 ½ hours in a week total. That’s it. So you don’t need to be spending hours and hours and hours watching charts, watching every pip move up and down. In fact, I would suggest that you get away from those charts if you are currently looking at those, because so many people spend so much time watching the short time frame charts. Now, it’s really good if you can trade those charts and if you like to trade those and you have the personality to trade those, but I really don’t suggest that most people start at those charts.
There’s a phrase that I use all the time and it’s called, “There are no prizes for trading more.” When you think about that, it’s so true. You don’t have to be trading all of the time in order to do really well, because if you do that you’re going to burn yourself out, you probably not enjoy your trading, and all you’re doing is feeding your broker’s pocket which you don’t want to be doing.
So, my suggestion if you have a full time job and you don’t have a lot of time to dedicate to trading is get to the longer time frame charts. Look at the 4-hour charts or the daily charts or the weekly charts or even out to the monthly charts. You know those longer time frame charts show some fantastic trading opportunities with very high reward to risk trades, and it just means you put the trade on and basically walk away and leave it for a number of hours, a number of days. You don’t have to be there watching the charts all of the time. So please try and get away from the, a lot of people had the mentality, because it’s out there on the Internet, on forums, that you have to be trading 5-minute charts and 15-minute charts.  You don’t.  You don’t have to do that. Get to the longer time frame charts. So, I hope that helps.
Another question: “Andrew I keep jumping from one system to the next system. Help me.”
Look, I used to do that as well, so I have full understanding and appreciation of the draw out there in terms of emails that you get all the time, new systems and strategies, forums telling you, starting new threads, someone’s found the latest greatest robot EA, you know it’s out there all the time.
What I would suggest you do is you either stick to one strategy or you develop your own strategy.  If you want to buy a course or a strategy such as mine, that’s fine.]]>636falsefullhttps://www.spreaker.com/episode/the-top-5-forex-questions-that-i-get-asked--12239793The Top 5 Forex Questions That I Get Asked
In this video:
00:27   The most regular question I get asked
03:20   The possibilities to make money from Forex trading
05:40   The logic and common sense behind my trading strategy
 
I’m going to give you the answers to probably the top 5 questions that I get asked on a regular basis. So let’s get into that right now.
 
Hi Forex traders, it’s Andrew Mitchem here and welcome along to my latest weekly video and podcast. I want to explain or give you the answers to the top 5 questions that I get asked very regularly.
 
Let’s start with the probably the most regular question which is:
 

*
What is the best indicator to use?


 
I get that on a regular basis. People say, “Hey Andrew you know I’ve been trading for a while or I’m brand new to trading, I’ve been searching this forum and what is the best indicator or the one indicator for me to use in order to become a profitable Forex trader?”
 
And quite simply, if you’re looking at the standard indicators as a technical trader, there is no one indicator can solve all your Forex money making problems and you know that’s just the truth of it. Most indicators, in fact almost all indicators (the standard indicators) lack time really badly so all they really do is form some combination or average of what’s already happened in the past and they’re very sort of ordinary and not great at telling you what’s likely to happen in the future.
 
So traditional indicators, I would stay clear of almost all of them. The important thing in my opinion to read is candle patterns and price action because that’s what happening in the market right now and that gives you an idea of the sentiment.
 
Are there more buyers? Are there more sellers in the market right now?
 
So regardless of the time frame chart you’re looking at, in my opinion, candle patterns give you the best information possible out there in the market. But most lagging indicators don’t put them on your charts.
 

*
 How many pips do I make personally?


 
And again, a lot of people asked me that question. I honestly have no idea. I don’t measure pips. To me they don’t matter. I can’t go down the shop and buy something with pips. It’s not relevant at all. The most important part of understanding money management is, understanding how much you risk on a trade as suppose how much you make on a trade.
 
When you take the mindset away from making pips, it allows you to trade multiple time frame charts. It also helps you with the emotions involved in trading especially when you start trading on real accounts because whether I have a, let’s say as an example a daily chart trade with a 70 pips stop loss and 200 pip profit target or I may have a 5-minute chart trade with the 7 pip stop loss and 20 pip profit. Both of them make equal amounts of money or they lose equal amounts of money. So the actual amount of pips that you make really has little importance in your overall trading. But unfortunately, most get cord up into the hype of the internet of having to judge their trading performance on how many pips they make. Honestly it really does not matter.
 

*
   Can you make money from trading Forex?


 
You know, I suppose the common thought is out there that 90 or 95% of Forex traders do not make money and that is probably true. But I’m here to tell you, yes, you can make money. You know, I’ve got so many clients all around the world that make really good money from Forex trading. It’s not easy, it’s like anything is good. If it was that easy, everybody will be doing it. But it does take time and dedication and understanding and perseverance and hard work and everything like that does go i...]]>http://theforextradingcoach.com/?p=5017Sat, 13 Sep 2014 23:07:24 +0000Andrew MitchemPodcast:  The Top 5 Forex Questions That I Get Asked In this video: 00:27   The most regular question I get asked 03:20   The possibilities to make money from Forex trading 05:40   The logic and common sense behind my trading strategy   I’m going to...The Top 5 Forex Questions That I Get Asked
In this video:
00:27   The most regular question I get asked
03:20   The possibilities to make money from Forex trading
05:40   The logic and common sense behind my trading strategy
 
I’m going to give you the answers to probably the top 5 questions that I get asked on a regular basis. So let’s get into that right now.
 
Hi Forex traders, it’s Andrew Mitchem here and welcome along to my latest weekly video and podcast. I want to explain or give you the answers to the top 5 questions that I get asked very regularly.
 
Let’s start with the probably the most regular question which is:
 

*
What is the best indicator to use?


 
I get that on a regular basis. People say, “Hey Andrew you know I’ve been trading for a while or I’m brand new to trading, I’ve been searching this forum and what is the best indicator or the one indicator for me to use in order to become a profitable Forex trader?”
 
And quite simply, if you’re looking at the standard indicators as a technical trader, there is no one indicator can solve all your Forex money making problems and you know that’s just the truth of it. Most indicators, in fact almost all indicators (the standard indicators) lack time really badly so all they really do is form some combination or average of what’s already happened in the past and they’re very sort of ordinary and not great at telling you what’s likely to happen in the future.
 
So traditional indicators, I would stay clear of almost all of them. The important thing in my opinion to read is candle patterns and price action because that’s what happening in the market right now and that gives you an idea of the sentiment.
 
Are there more buyers? Are there more sellers in the market right now?
 
So regardless of the time frame chart you’re looking at, in my opinion, candle patterns give you the best information possible out there in the market. But most lagging indicators don’t put them on your charts.
 

*
 How many pips do I make personally?


 
And again, a lot of people asked me that question. I honestly have no idea. I don’t measure pips. To me they don’t matter. I can’t go down the shop and buy something with pips. It’s not relevant at all. The most important part of understanding money management is, understanding how much you risk on a trade as suppose how much you make on a trade.
 
When you take the mindset away from making pips, it allows you to trade multiple time frame charts. It also helps you with the emotions involved in trading especially when you start trading on real accounts because whether I have a, let’s say as an example a daily chart trade with a 70 pips stop loss and 200 pip profit target or I may have a 5-minute chart trade with the 7 pip stop loss and 20 pip profit. Both of them make equal amounts of money or they lose equal amounts of money. So the actual amount of pips that you make really has little importance in your overall trading. But unfortunately, most get cord up into the hype of the internet of having to judge their trading performance on how many pips they make. Honestly it really does not matter.
 

*
   Can you make money from trading Forex?


 
You know, I suppose the common thought is out there that 90 or 95% of Forex traders do not make money and that is probably true. But I’m here to tell you, yes, you can make money. You know, I’ve got so many clients all around the world that make really good money from Forex trading. It’s not easy, it’s like anything is good. If it was that easy, everybody will be doing it. But it does take time and dedication and understanding and perseverance and hard work and everything like that does go i...]]>436falsefullhttps://www.spreaker.com/episode/it-s-bad-news-for-savers-and-good-news-for-forex-traders--12239796It's Bad News for Savers and Good News for Forex Traders
In this video:
00:42   European Bank Drops Interest Rates
02:10   A really good feedback of 2.5% returns just on one trade
03:24   Forex trader’s advantage in saving and investing
Today, I’ve got a really bad news for you if you are a saver but exceptionally good news for you if you are a Forex trader like me.
So let’s talk about that right now.
Hi traders, it’s Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 5th of September and as I’ve mentioned I’ve got some bad news for you if you are a saver but some really good news for you if you are a good Forex trader.
The bad news first, yesterday, the European banks decided to drop their interest rate yet again and the Euro is now are at a level that’s lowest against the U.S. for over one year. I’ve done a little bit of research because here in New Zealand our interest rates are some of the highest in the world. But even so, around a 4% on a term deposit is about as high as you can realistically wish to get right now.
I’ve done a bit of research and I found that in Europe, most savings (banks savings) rates are now under 1% and that’s per year (1% return/year). The highest I could find on a 1 year fixed-rate in the U.K. was 1.4% and the highest that I could find in the U.S. for 1 year was 1.1%.
So some pretty misely depressing kinds of returns there if you have money in the bank or term deposit as a savings. And really when you think about the realistic day to day goings on there you add inflation into that and it means you’re actually going backwards by having your money in a bank.
For us as Forex traders, of course we have the potential to make substantially far greater returns than that.
And I’ll give you a few examples:
Just yesterday, I held a live 2-hour live trading room session with my clients and I had an email from one of the clients who’s just joined only a few weeks ago. He said, “Hey Andrew I really enjoyed the webinar, I needed to let you know that I’ve made 2.5%.” –  On a trade that he mentioned he was taking while we were on the webinar yesterday.
2.5% return just on one trade, so really good feedback there.
I personally took 3 trades during that session, all on the 1-hour charts and 2 of them made profit and 1 lost. I was risking 0.5% of my account on each of the 3 trades. I had a trade on the Euro/U.S. Dollar (EUR/USD) that made a 2.4 reward to risk, a trade on the British Pound/Canadian Dollar (GBP/CAD) that made a 1.7 return to risk. Both of those two were profitable.
I also had a 1-hour chart trade which I took on Gold which lost. Put all that together, 2 profitable trades, 1 losing trade with only 0.5% risk on all 3 of them, on each of them, that gave me a +1.55% return on my account just while I was talking to my clients trading live in front of them on a webinar.
Now out of all the lists I’ve got here, I can’t find anybody in terms of a bank in the U.K., Europe or the U.S. that can make more than that 1.55% in an entire year on my savings. I’ve made that just in 3 trades whilst on a live session.
So it just shows the advantage that we have as Forex traders over the more traditional forms of investing or savings. So I just needed to let you know that in terms of what great returns can be made providing of course you have the usual things in your favor. You need to trade on the time frame that suits you or multiple time frames that suit you. You need to have a strategy that’s proven and a strategy that you understand and it works favorably for you. You need to have very low risk per trade which is why I have a maximum 0.5% of my account myself on any one trade, and you need to have a high return from your trades.
So those 2 trades that were profitable, one of them had a 2.4 reward to risk.]]>http://theforextradingcoach.com/?p=5006Sun, 07 Sep 2014 10:02:58 +0000Andrew MitchemPodcast: It's Bad News for Savers and Good News for Forex Traders In this video: 00:42   European Bank Drops Interest Rates 02:10   A really good feedback of 2.5% returns just on one trade 03:24   Forex trader’s advantage in saving and investing...It's Bad News for Savers and Good News for Forex Traders
In this video:
00:42   European Bank Drops Interest Rates
02:10   A really good feedback of 2.5% returns just on one trade
03:24   Forex trader’s advantage in saving and investing
Today, I’ve got a really bad news for you if you are a saver but exceptionally good news for you if you are a Forex trader like me.
So let’s talk about that right now.
Hi traders, it’s Andrew Mitchem here, The Forex Trading Coach. Today is Friday, the 5th of September and as I’ve mentioned I’ve got some bad news for you if you are a saver but some really good news for you if you are a good Forex trader.
The bad news first, yesterday, the European banks decided to drop their interest rate yet again and the Euro is now are at a level that’s lowest against the U.S. for over one year. I’ve done a little bit of research because here in New Zealand our interest rates are some of the highest in the world. But even so, around a 4% on a term deposit is about as high as you can realistically wish to get right now.
I’ve done a bit of research and I found that in Europe, most savings (banks savings) rates are now under 1% and that’s per year (1% return/year). The highest I could find on a 1 year fixed-rate in the U.K. was 1.4% and the highest that I could find in the U.S. for 1 year was 1.1%.
So some pretty misely depressing kinds of returns there if you have money in the bank or term deposit as a savings. And really when you think about the realistic day to day goings on there you add inflation into that and it means you’re actually going backwards by having your money in a bank.
For us as Forex traders, of course we have the potential to make substantially far greater returns than that.
And I’ll give you a few examples:
Just yesterday, I held a live 2-hour live trading room session with my clients and I had an email from one of the clients who’s just joined only a few weeks ago. He said, “Hey Andrew I really enjoyed the webinar, I needed to let you know that I’ve made 2.5%.” –  On a trade that he mentioned he was taking while we were on the webinar yesterday.
2.5% return just on one trade, so really good feedback there.
I personally took 3 trades during that session, all on the 1-hour charts and 2 of them made profit and 1 lost. I was risking 0.5% of my account on each of the 3 trades. I had a trade on the Euro/U.S. Dollar (EUR/USD) that made a 2.4 reward to risk, a trade on the British Pound/Canadian Dollar (GBP/CAD) that made a 1.7 return to risk. Both of those two were profitable.
I also had a 1-hour chart trade which I took on Gold which lost. Put all that together, 2 profitable trades, 1 losing trade with only 0.5% risk on all 3 of them, on each of them, that gave me a +1.55% return on my account just while I was talking to my clients trading live in front of them on a webinar.
Now out of all the lists I’ve got here, I can’t find anybody in terms of a bank in the U.K., Europe or the U.S. that can make more than that 1.55% in an entire year on my savings. I’ve made that just in 3 trades whilst on a live session.
So it just shows the advantage that we have as Forex traders over the more traditional forms of investing or savings. So I just needed to let you know that in terms of what great returns can be made providing of course you have the usual things in your favor. You need to trade on the time frame that suits you or multiple time frames that suit you. You need to have a strategy that’s proven and a strategy that you understand and it works favorably for you. You need to have very low risk per trade which is why I have a maximum 0.5% of my account myself on any one trade, and you need to have a high return from your trades.
So those 2 trades that were profitable, one of them had a 2.4 reward to risk.]]>318falsefullhttps://www.spreaker.com/episode/7-reasons-why-i-only-take-a-new-trade-at-the-completion-of-each-candle--122397987 Reasons Why I Only Take a New Trade at the Completion of Each Candle
In this video:
00:29   Reason #1 – helps you plan around your trading
02:57   Stop from over trading
05:03   What’s really happening in the market
I want to talk about the 7 reasons why I only look at taking a new trade at the completion of each candle. So let’s get into that right now.
Hi Forex traders it’s Andrew Mitchem here and I’m the owner of The Forex Trading Coach and in today’s video and podcast I want to explain to you the 7 really important reasons why I only consider a new trade at the completion of each candle.
So let’s get into those right now.
Okay, reason number:
1. It helps you plan around your trading. If for instance I’m trading on the daily charts, I know that I just need to look at my charts once per day at the completion of the daily chart which is at 5pm Eastern Standard Time (EST), New York. If I was trading 4-hour charts, I know that I don’t need to look at my charts until 4-hour chart closes so if that just happened I know that I’ve now got another almost 4 hours before I need to go and look at my charts again. If I was looking at trading the 1-hour charts for instance I know that until the candle closes at the top of each hour, I don’t need to look at charts again. So put that together; in basic terms it means that I can plan everything else – my day, my family whatever it is I need to do around my trading and it allows you to set that up as a structured plan.
2.  It keeps you away from your charts. I don’t know how many emails I get from people saying, “Andrew I’m just stuck at my charts all day, just frightened to leave my charts, worried about each pip”. You know, you don’t need to do that. If you were to trade daily charts, you look at your charts once a day; don’t go near them until the next day. If you’re trading 4-hour charts, don’t go near them until the next 4-hour chart closes, etc. So you can see how by trading only on a close of a bar, how it keeps you away from looking at this thing being glued to the charts all day long. That’s not what your trading is all about. Good trading means taking a chart setup and making a decision placing your trade, leaving it, walking away. So get away from your charts.
3. The third reason is it takes the emphasis of way from indicators and so many people that caught up in technical indicators when A crosses B and this line crosses over that dots of line and something else happens, you know, it’s just ludicrous. You don’t need to be trading like that relying on those lagging indicators. If you look at candle patterns as a technical trader then it helps to shape the market and help you to understand what’s happening in the market. You don’t need to be relying on an indicator crossing over something else that could happen at any time of the day or night and that’s why people start trading too often which then leads on to point #4
4. By understanding candle patterns, by trading and looking at the candles on the close of each candle. It stops you from over trading. And again it’s something that so many people get caught up within the wrong way. It’s that they think that they make more money. By trading Forex you have to take more and more trades – that simply is not the case. If you over trade all you’re going to do is become really, really trigger happy and you’re desperate to take new trades, you’re searching for new trades all the time; you don’t need to do that. So get away from your charts and take less trades but take high quality trades and again that’s what understanding candles can help you with.
5. It helps you with your trade management. You see why look at closing part positions at 23 minutes past two (2:23) as an example. If I’m trading the 1-hour charts and I have a trade open I don’t make any management position i...]]>http://theforextradingcoach.com/?p=4997Sun, 31 Aug 2014 19:41:42 +0000Andrew MitchemPodcast: 7 Reasons Why I Only Take a New Trade at the Completion of Each Candle In this video: 00:29   Reason #1 – helps you plan around your trading 02:57   Stop from over trading 05:03   What’s really happening in the market I want to talk about...7 Reasons Why I Only Take a New Trade at the Completion of Each Candle
In this video:
00:29   Reason #1 – helps you plan around your trading
02:57   Stop from over trading
05:03   What’s really happening in the market
I want to talk about the 7 reasons why I only look at taking a new trade at the completion of each candle. So let’s get into that right now.
Hi Forex traders it’s Andrew Mitchem here and I’m the owner of The Forex Trading Coach and in today’s video and podcast I want to explain to you the 7 really important reasons why I only consider a new trade at the completion of each candle.
So let’s get into those right now.
Okay, reason number:
1. It helps you plan around your trading. If for instance I’m trading on the daily charts, I know that I just need to look at my charts once per day at the completion of the daily chart which is at 5pm Eastern Standard Time (EST), New York. If I was trading 4-hour charts, I know that I don’t need to look at my charts until 4-hour chart closes so if that just happened I know that I’ve now got another almost 4 hours before I need to go and look at my charts again. If I was looking at trading the 1-hour charts for instance I know that until the candle closes at the top of each hour, I don’t need to look at charts again. So put that together; in basic terms it means that I can plan everything else – my day, my family whatever it is I need to do around my trading and it allows you to set that up as a structured plan.
2.  It keeps you away from your charts. I don’t know how many emails I get from people saying, “Andrew I’m just stuck at my charts all day, just frightened to leave my charts, worried about each pip”. You know, you don’t need to do that. If you were to trade daily charts, you look at your charts once a day; don’t go near them until the next day. If you’re trading 4-hour charts, don’t go near them until the next 4-hour chart closes, etc. So you can see how by trading only on a close of a bar, how it keeps you away from looking at this thing being glued to the charts all day long. That’s not what your trading is all about. Good trading means taking a chart setup and making a decision placing your trade, leaving it, walking away. So get away from your charts.
3. The third reason is it takes the emphasis of way from indicators and so many people that caught up in technical indicators when A crosses B and this line crosses over that dots of line and something else happens, you know, it’s just ludicrous. You don’t need to be trading like that relying on those lagging indicators. If you look at candle patterns as a technical trader then it helps to shape the market and help you to understand what’s happening in the market. You don’t need to be relying on an indicator crossing over something else that could happen at any time of the day or night and that’s why people start trading too often which then leads on to point #4
4. By understanding candle patterns, by trading and looking at the candles on the close of each candle. It stops you from over trading. And again it’s something that so many people get caught up within the wrong way. It’s that they think that they make more money. By trading Forex you have to take more and more trades – that simply is not the case. If you over trade all you’re going to do is become really, really trigger happy and you’re desperate to take new trades, you’re searching for new trades all the time; you don’t need to do that. So get away from your charts and take less trades but take high quality trades and again that’s what understanding candles can help you with.
5. It helps you with your trade management. You see why look at closing part positions at 23 minutes past two (2:23) as an example. If I’m trading the 1-hour charts and I have a trade open I don’t make any management position i...]]>400falsefullhttps://www.spreaker.com/episode/the-amazing-power-of-compounding-and-using-it-to-your-advantage-as-a-forex-trader--12239801The Amazing Power of Compounding and Using it to Your Advantage as a Forex Trader
In this video:
00:47   Huge effect to the overall performance
02:20   The potential of compounding
05:39   2.1% return gain just from just 5-minutes work
 
How to Use the Power of Compounding to Your Advantage
In today’s video and podcast I want to share some really exciting information with you regarding the power of compounding and how it can really help you with your Forex trading results. So let’s get into that right now.
Hi traders it’s Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday, the 22nd of August and I want to talk about compounding.
I’ve had an email come through from Don and he said “Andrew, can you just talk about compounding and how I can use that to my advantage as a Forex trader.” It’s something that I also shared on a live webinar with my clients just last night.
When you start talking about the power of compounding it just makes you realize just how, (if you’re using in the right way) how it can make such a huge effect to the overall performance that you achieve as a Forex trader. So I’ve just run through a few different scenarios on a trading calculator that I have.
I’ve assumed that you’re taking 25 trades per month. So all the figures that I’m about to quote assume  25 trades per month so just over 1 per day of the trading day and also using 0.5% gain per trade.
So if you had a 50% win rate in your trading strategy, so it means obviously that you’re actually losing half the trades that you take and of course winning half the trades that you take. If you had that 50% win rate with the 2 to 1 return on each trade. So for example if you were risking 50 pips to make a 100 pips or risking 25 pips to make 50 pips whatever it might be you were turning twice the amount that you are risking. So if you had a 50% win rate  with the 2 to 1 reward to risk ratio, that’s going to give you (assuming that you do that consistently) that’s going to give you around a 6.3% monthly return, compound that and assume that you’re doing that evenly throughout the whole each month of the year. That’s going to give you just over a 100% return on your account which is pretty spectacular.
Now there’s a lot of assumptions in these figures as assuming that everything is even and everything are consistent which of course in reality is not. But just to give you an idea of the potential that can be achieved using the power of compounding.
As you have profitable trades your account grows with compounding. The great thing about it is you’re actually compounding on your gains.
The thing in reality that I also liked about it is that if you have losing trades and losing weeks and loosing months even because you’re using a set percentage of your account, you’re actually losing less as your account goes down but if you’re a good trader and you make more money, with compounding you can then grow that substantially greater of course.
So using those figures 50% win rate, 2 to 1 reward to risk on each trade (and a 0.5% account risk per trade) gives you a 6.3% per month. Take that out to a year around about a 100% gain.
If all of a sudden you had a 40% win rate. So you’re losing 6 out of 10 trades but the same return per trade. That’s now giving you a 2.5% monthly return; compounded out, that gives you about a 34% annual return – still exceptionally good.
But if you stick at your 40% win rate so only winning 4 out of 10 trades but all of a sudden instead of a 2 to 1 return you’re now at a 2.5 return per trade (and a 0.5% risk per trade) that suddenly gives you a 5% monthly return and about 80% annual return. So you can see the difference there.
You’re still losing 6 out of 10 trades. It’s something a lot of people come to me and they say, “Andrew,]]>http://theforextradingcoach.com/?p=4986Sun, 24 Aug 2014 07:40:03 +0000Andrew MitchemPodcast: The Amazing Power of Compounding and Using it to Your Advantage as a Forex Trader In this video: 00:47   Huge effect to the overall performance 02:20   The potential of compounding 05:39   2.1% return gain just from just 5-minutes work  ...The Amazing Power of Compounding and Using it to Your Advantage as a Forex Trader
In this video:
00:47   Huge effect to the overall performance
02:20   The potential of compounding
05:39   2.1% return gain just from just 5-minutes work
 
How to Use the Power of Compounding to Your Advantage
In today’s video and podcast I want to share some really exciting information with you regarding the power of compounding and how it can really help you with your Forex trading results. So let’s get into that right now.
Hi traders it’s Andrew Mitchem here, the owner of The Forex Trading Coach. Today is Friday, the 22nd of August and I want to talk about compounding.
I’ve had an email come through from Don and he said “Andrew, can you just talk about compounding and how I can use that to my advantage as a Forex trader.” It’s something that I also shared on a live webinar with my clients just last night.
When you start talking about the power of compounding it just makes you realize just how, (if you’re using in the right way) how it can make such a huge effect to the overall performance that you achieve as a Forex trader. So I’ve just run through a few different scenarios on a trading calculator that I have.
I’ve assumed that you’re taking 25 trades per month. So all the figures that I’m about to quote assume  25 trades per month so just over 1 per day of the trading day and also using 0.5% gain per trade.
So if you had a 50% win rate in your trading strategy, so it means obviously that you’re actually losing half the trades that you take and of course winning half the trades that you take. If you had that 50% win rate with the 2 to 1 return on each trade. So for example if you were risking 50 pips to make a 100 pips or risking 25 pips to make 50 pips whatever it might be you were turning twice the amount that you are risking. So if you had a 50% win rate  with the 2 to 1 reward to risk ratio, that’s going to give you (assuming that you do that consistently) that’s going to give you around a 6.3% monthly return, compound that and assume that you’re doing that evenly throughout the whole each month of the year. That’s going to give you just over a 100% return on your account which is pretty spectacular.
Now there’s a lot of assumptions in these figures as assuming that everything is even and everything are consistent which of course in reality is not. But just to give you an idea of the potential that can be achieved using the power of compounding.
As you have profitable trades your account grows with compounding. The great thing about it is you’re actually compounding on your gains.
The thing in reality that I also liked about it is that if you have losing trades and losing weeks and loosing months even because you’re using a set percentage of your account, you’re actually losing less as your account goes down but if you’re a good trader and you make more money, with compounding you can then grow that substantially greater of course.
So using those figures 50% win rate, 2 to 1 reward to risk on each trade (and a 0.5% account risk per trade) gives you a 6.3% per month. Take that out to a year around about a 100% gain.
If all of a sudden you had a 40% win rate. So you’re losing 6 out of 10 trades but the same return per trade. That’s now giving you a 2.5% monthly return; compounded out, that gives you about a 34% annual return – still exceptionally good.
But if you stick at your 40% win rate so only winning 4 out of 10 trades but all of a sudden instead of a 2 to 1 return you’re now at a 2.5 return per trade (and a 0.5% risk per trade) that suddenly gives you a 5% monthly return and about 80% annual return. So you can see the difference there.
You’re still losing 6 out of 10 trades. It’s something a lot of people come to me and they say, “Andrew,]]>443falsefullhttps://www.spreaker.com/episode/why-it-s-important-to-stick-to-a-set-of-rules-when-trading-forex--12239800Why it's Important to Stick to a Set of Rules when Trading Forex
In this video:
 
00:50   Writing down a set of rules and sticking to them
02:35   An experience that I’m currently enjoying
03:25   “Life Advantages” in Forex Trading
 
The Importance of Setting a List of Rules in Forex Trading. 
Sticking to a set of rules would definitely help you to become a formal profitable Forex trader. Let’s talk about that right now.
Hi Forex traders it’s Andrew Mitchem from The Forex Trading Coach and today is Friday, the 15th of August and I want to talk about the importance of setting yourself a list of rules. 
 
You see trading obviously is such an emotional business. We’re trading with real money, you’re making money, you’re losing money, you’re making it again and it definitely affects the way that you feel and emotions can become such a big part of your trading. It’s very important to try and keep that under control.
 
There are many ways to go about that. I use low risk per trade and I’ve talked about that many times on these videos and podcasts. But also today I want to talk about writing down a set of rules and sticking to them but they need to be set of rules that work for you. Because when you have a set of rules, it may be an entry rules setup, it may be an exit rule decision; whatever it might you’ve got to be able to be comfortable with that and to stick with it.
 
You know we have rules as guidelines. It helps us in making stupid decisions, emotional decisions, it takes as much of the emotion away from our trading as possible. So I want you to have a think about that and set a group of rules and list of rules, pin it on the wall next to your computer,  whatever it might be and go through that list of rules every time you’re thinking about taking a new trade. Do it every day before you start to take trades.
 

*
Analyze that market

*
What are you looking for?

*
What setups are you looking for?

*
Are you looking at trading with the daily strength?

*
Are you looking at reversal trades?

*
What percentage of your account are you looking at risking per trade?

*
How many trades would you have open at once?


If you saw a really good setup on let’s say the Euro/U.S. Dollar (EUR/USD) to sell it and you had a setup on the daily chart, the 4-hourly chart, the 1-hourly chart and then the 15-minute chart comes along, show us a good setup.
Are you going to take that where it might be your 4th or 5th trade on the same pair and the same direction?
 
You might do it. If that’s your rules then go for it but you need to have that written and down in advance.
What happens if you get really close to your profit target?
Are you the sort of person that gets a bit itchy and watch the start/closing part of your trades?
Do you like to move your stops to break-even?
 
You know are you sitting there staring at your charts you’d say, “No, I’ve got my profit target for a reason. I’m going to walk away and leave it.” What is it that suits you? So have that set of rules.
 
Now, to bring that back to an experience that I’m currently enjoying is, as you probably know I’m learning to fly a helicopter right now and about an hour ago I’ve just returned from a flight. The same thing applies in helicopter flying; I have a set of rules:
 

*
I take off at the right speed

*
I go at the right height

*
I have the right pressure on the engine

*
 I have  the right forward momentum

*
I have the rotors going at the right speed


 ]]>http://theforextradingcoach.com/?p=4978Sun, 17 Aug 2014 05:53:28 +0000Andrew MitchemPodcast: Why it's Important to Stick to a Set of Rules when Trading Forex In this video:   00:50   Writing down a set of rules and sticking to them 02:35   An experience that I’m currently enjoying 03:25   “Life Advantages” in Forex Trading   The...Why it's Important to Stick to a Set of Rules when Trading Forex
In this video:
 
00:50   Writing down a set of rules and sticking to them
02:35   An experience that I’m currently enjoying
03:25   “Life Advantages” in Forex Trading
 
The Importance of Setting a List of Rules in Forex Trading. 
Sticking to a set of rules would definitely help you to become a formal profitable Forex trader. Let’s talk about that right now.
Hi Forex traders it’s Andrew Mitchem from The Forex Trading Coach and today is Friday, the 15th of August and I want to talk about the importance of setting yourself a list of rules. 
 
You see trading obviously is such an emotional business. We’re trading with real money, you’re making money, you’re losing money, you’re making it again and it definitely affects the way that you feel and emotions can become such a big part of your trading. It’s very important to try and keep that under control.
 
There are many ways to go about that. I use low risk per trade and I’ve talked about that many times on these videos and podcasts. But also today I want to talk about writing down a set of rules and sticking to them but they need to be set of rules that work for you. Because when you have a set of rules, it may be an entry rules setup, it may be an exit rule decision; whatever it might you’ve got to be able to be comfortable with that and to stick with it.
 
You know we have rules as guidelines. It helps us in making stupid decisions, emotional decisions, it takes as much of the emotion away from our trading as possible. So I want you to have a think about that and set a group of rules and list of rules, pin it on the wall next to your computer,  whatever it might be and go through that list of rules every time you’re thinking about taking a new trade. Do it every day before you start to take trades.
 

*
Analyze that market

*
What are you looking for?

*
What setups are you looking for?

*
Are you looking at trading with the daily strength?

*
Are you looking at reversal trades?

*
What percentage of your account are you looking at risking per trade?

*
How many trades would you have open at once?


If you saw a really good setup on let’s say the Euro/U.S. Dollar (EUR/USD) to sell it and you had a setup on the daily chart, the 4-hourly chart, the 1-hourly chart and then the 15-minute chart comes along, show us a good setup.
Are you going to take that where it might be your 4th or 5th trade on the same pair and the same direction?
 
You might do it. If that’s your rules then go for it but you need to have that written and down in advance.
What happens if you get really close to your profit target?
Are you the sort of person that gets a bit itchy and watch the start/closing part of your trades?
Do you like to move your stops to break-even?
 
You know are you sitting there staring at your charts you’d say, “No, I’ve got my profit target for a reason. I’m going to walk away and leave it.” What is it that suits you? So have that set of rules.
 
Now, to bring that back to an experience that I’m currently enjoying is, as you probably know I’m learning to fly a helicopter right now and about an hour ago I’ve just returned from a flight. The same thing applies in helicopter flying; I have a set of rules:
 

*
I take off at the right speed

*
I go at the right height

*
I have the right pressure on the engine

*
 I have  the right forward momentum

*
I have the rotors going at the right speed


 ]]>333falsefullhttps://www.spreaker.com/episode/which-currency-pairs-i-trades-and-why--12239805Which Currency Pairs I Trades and Why
In this video:
00:49      Tips on filtering out which pairs to concentrate on and why
02:35      The right setup for your trade plan                             
03:46      Trading in the direction of daily trade analysis
 
I want to explain which currency pairs I trade and on which time frames and why. So let me explain more right now.
Hi traders it’s Andrew Mitchem here The Forex Trading Coach and today is Friday, the 8th of August.
I’ve received an email that I’ve printed out here from Ahmer who follows me on my website and also on my daily posts on the FOREX Peace Army review site.
The question says, “Andrew, you know I’ve been following you for quite a while now; understanding how you trade. Can you make a video explaining about the currency pairs that you trade and why”.
Because Ahmer is saying that he finds that he’s paying some large spreads on some of the cross pairs and exotics and so he’d likes some information and tips about filtering out which pairs to concentrate on and why. So thank you for that question Ahmer.
 
So for me in general if I’m trading the longer time frame charts (so I’m talking: the monthly charts, the weekly charts, the daily charts), it doesn’t really matter which currency pair I’m trading because the stop loss and the profit targets are usually very large on those pairs because of the longer time frame nature of the trades. Therefore really the spread doesn’t become an issue.
 
Selecting Currency Pairs
 

*
If you’re looking at let’s say for example the British Pound/New Zealand Dollar (GBP/NZD) which can have sometimes a higher spread. Let’s say the spread is 6-7 pips, well, that’s absolutely fine and it doesn’t affect my trade. If the profit target happens to be 150, 250, 300 pips wherever it might be base on the time frame of the chart I’m trading. So therefore, the spread that you pay is such an insignificant amount because the profit target you’re looking at is such a large amount.


 

*
However I wouldn’t be looking at trading, let’s say, the British Pound/New Zealand Dollar (GBP/NZD) if the spread was let’s say 7 pips on a 5-minute chart trade and the profit target may happen to be somewhere 15, 20, 30 pips whatever it might be. So when you trade the shorter time frame charts you need to be quite selective in which currency pairs you’re selecting to trade; you’re choosing to trade. Of course it still needs to have other reasons why you’re taking those trades such as the actual setup you’re looking for whether it’s a chart pattern or indicators or fundamentals whatever it is that you’re using you still need to have the right setup for your trade plan, you still need to be able to get the reward out of the trade so the risk to reward ratio of the trade so all of that still needs to be factored in. So generally the shorter the time frame that you trade generally the smaller the stop loss and generally the smaller the profit target on the trade. Therefore the spread whatever the spread amount is, it becomes a bigger and bigger proportion of that trade so that’s why on the longer time frame charts really it doesn’t matter to me. I’m just looking at the right technical setup base on everything that I’m looking for within my own trading patterns regardless of the currency pair itself.


 

*
When it comes to the next time frames down like the 12-hour, the 6-hour or 4-hour charts, again, the spread on most of those trades is quite an insignificant amount due to the bigger ranges of those longer time frame charts.


 

*
When it comes to anything shorter than that from my own trading of a 1-hour chart or below then I prefer to be trading in the direction of my daily trade analysis.]]>http://theforextradingcoach.com/?p=4853Sun, 10 Aug 2014 07:42:53 +0000Andrew MitchemPodcast: Which Currency Pairs I Trades and Why In this video: 00:49      Tips on filtering out which pairs to concentrate on and why 02:35      The right setup for your trade plan                              03:46      Trading in the direction of...Which Currency Pairs I Trades and Why
In this video:
00:49      Tips on filtering out which pairs to concentrate on and why
02:35      The right setup for your trade plan                             
03:46      Trading in the direction of daily trade analysis
 
I want to explain which currency pairs I trade and on which time frames and why. So let me explain more right now.
Hi traders it’s Andrew Mitchem here The Forex Trading Coach and today is Friday, the 8th of August.
I’ve received an email that I’ve printed out here from Ahmer who follows me on my website and also on my daily posts on the FOREX Peace Army review site.
The question says, “Andrew, you know I’ve been following you for quite a while now; understanding how you trade. Can you make a video explaining about the currency pairs that you trade and why”.
Because Ahmer is saying that he finds that he’s paying some large spreads on some of the cross pairs and exotics and so he’d likes some information and tips about filtering out which pairs to concentrate on and why. So thank you for that question Ahmer.
 
So for me in general if I’m trading the longer time frame charts (so I’m talking: the monthly charts, the weekly charts, the daily charts), it doesn’t really matter which currency pair I’m trading because the stop loss and the profit targets are usually very large on those pairs because of the longer time frame nature of the trades. Therefore really the spread doesn’t become an issue.
 
Selecting Currency Pairs
 

*
If you’re looking at let’s say for example the British Pound/New Zealand Dollar (GBP/NZD) which can have sometimes a higher spread. Let’s say the spread is 6-7 pips, well, that’s absolutely fine and it doesn’t affect my trade. If the profit target happens to be 150, 250, 300 pips wherever it might be base on the time frame of the chart I’m trading. So therefore, the spread that you pay is such an insignificant amount because the profit target you’re looking at is such a large amount.


 

*
However I wouldn’t be looking at trading, let’s say, the British Pound/New Zealand Dollar (GBP/NZD) if the spread was let’s say 7 pips on a 5-minute chart trade and the profit target may happen to be somewhere 15, 20, 30 pips whatever it might be. So when you trade the shorter time frame charts you need to be quite selective in which currency pairs you’re selecting to trade; you’re choosing to trade. Of course it still needs to have other reasons why you’re taking those trades such as the actual setup you’re looking for whether it’s a chart pattern or indicators or fundamentals whatever it is that you’re using you still need to have the right setup for your trade plan, you still need to be able to get the reward out of the trade so the risk to reward ratio of the trade so all of that still needs to be factored in. So generally the shorter the time frame that you trade generally the smaller the stop loss and generally the smaller the profit target on the trade. Therefore the spread whatever the spread amount is, it becomes a bigger and bigger proportion of that trade so that’s why on the longer time frame charts really it doesn’t matter to me. I’m just looking at the right technical setup base on everything that I’m looking for within my own trading patterns regardless of the currency pair itself.


 

*
When it comes to the next time frames down like the 12-hour, the 6-hour or 4-hour charts, again, the spread on most of those trades is quite an insignificant amount due to the bigger ranges of those longer time frame charts.


 

*
When it comes to anything shorter than that from my own trading of a 1-hour chart or below then I prefer to be trading in the direction of my daily trade analysis.]]>398falsefullhttps://www.spreaker.com/episode/why-do-we-need-volume-and-volatility-in-the-forex-market--12239806Why Do We Need Volume and Volatility in the Forex Market?
In this video:
00:24    The importance of volume within the market
02:38    7.9% gain in one day – just an exceptional return
05:20    How to trade for yourself the way that I trade
The Importance of Volume and Volatility in the FOREX Market
Why do we need volume and why do we need volatility in the FOREX markets to help us as FOREX traders? Let me explain more about that and a lot more about results that I’ve been achieving right now.
 Hi traders, it's Andrew Mitchem here the owner of the FOREX Trading Coach. Today is Friday, the 1st of August.
 In today’s video and podcast I want to explain to you the importance of volume within the market.
 It’s not something we can measure as such but when you have a lot of activity, a lot of volume in the market, a lot of traders trading in the market;

*
It gives volatility

*
It gives big moves within the market



And that’s really what most of us need in order to be really profitable. You can be profitable in tight range-bound markets but for most systems to work you need that extra volume and volatility and that’s luckily what we’ve seen come back into the market in the last week or so. You would recall that on my video and podcast last week I was talking about how I’ve made 6.7% in the week and that was an exceptional return considering that July is traditionally a low volume, quiet month of the year due to the Northern Hemisphere holiday season.

7.9% Gain in One Day
But this week I’ve gone even better. On Wednesday of this week, I made 7.9% on closed trades in one day.
Now, that of course is not something that I achieve very often (if only). But reality is that doesn’t happen very often but it just goes to show what can be achieved if you stick to your system and you don’t change the rules and you have some volatility in the markets that aids you but of course you need to be on the right side of those trades and you need to have the strategy upfront to be able to identify those trade setups. And of course, you also need to have the confidence within your system and your strategy to take those trades before the market makes those moves.
It’s no good in saying, “Uh, I would have made 7.9% in a day if I had done this or if I had done that.” Because the – I would have, could have, should have; means nothing on your bottom line and your bank balance.
The reality is: “I did make 7.9% in a day because I’ve got the strategy in place; I’ve got the confidence in the system. I see the trade, I take the trade, I have very low risk per trade, I was trading at a quarter to a half of 1% per trade depending on which of the trades I took. But a 7.9% gain in one day is an exceptional return with very low risk.
Now, that leads onto something else. As I’ve explained several times over the last six months or so, this year has been a very hard year for trading. It just has been. It’s been, not a huge amount of movements in the market. The volatility and the volume have been low.

2014 BarclayHedge Rankings
What I have here is a printout of the Barclay Hedge Rankings which ranks the Top 10 currency hedge funds within their world or at these guys rank which is pretty much all the top ones. This is for July so this goes up until the end of May, so up until the 31st of May – this is published in July, just out. Now for all those companies trading more than $10million combined funds, the highest return for the month of May was +4.67% and the highest out of those top 10 in the whole of 2014 is +15.31%.

Now on that list there are only 4 out of the 10 who’ve got positive figures for that overall performance for 2014. One of them has a -11.77% return for the year. And I'll read the list -2.7, -11.77,]]>http://theforextradingcoach.com/?p=4846Sun, 03 Aug 2014 09:47:49 +0000Andrew MitchemPodcast: Why Do We Need Volume and Volatility in the Forex Market? In this video: 00:24    The importance of volume within the market 02:38    7.9% gain in one day – just an exceptional return 05:20    How to trade for yourself the way that I trade...Why Do We Need Volume and Volatility in the Forex Market?
In this video:
00:24    The importance of volume within the market
02:38    7.9% gain in one day – just an exceptional return
05:20    How to trade for yourself the way that I trade
The Importance of Volume and Volatility in the FOREX Market
Why do we need volume and why do we need volatility in the FOREX markets to help us as FOREX traders? Let me explain more about that and a lot more about results that I’ve been achieving right now.
 Hi traders, it's Andrew Mitchem here the owner of the FOREX Trading Coach. Today is Friday, the 1st of August.
 In today’s video and podcast I want to explain to you the importance of volume within the market.
 It’s not something we can measure as such but when you have a lot of activity, a lot of volume in the market, a lot of traders trading in the market;

*
It gives volatility

*
It gives big moves within the market



And that’s really what most of us need in order to be really profitable. You can be profitable in tight range-bound markets but for most systems to work you need that extra volume and volatility and that’s luckily what we’ve seen come back into the market in the last week or so. You would recall that on my video and podcast last week I was talking about how I’ve made 6.7% in the week and that was an exceptional return considering that July is traditionally a low volume, quiet month of the year due to the Northern Hemisphere holiday season.

7.9% Gain in One Day
But this week I’ve gone even better. On Wednesday of this week, I made 7.9% on closed trades in one day.
Now, that of course is not something that I achieve very often (if only). But reality is that doesn’t happen very often but it just goes to show what can be achieved if you stick to your system and you don’t change the rules and you have some volatility in the markets that aids you but of course you need to be on the right side of those trades and you need to have the strategy upfront to be able to identify those trade setups. And of course, you also need to have the confidence within your system and your strategy to take those trades before the market makes those moves.
It’s no good in saying, “Uh, I would have made 7.9% in a day if I had done this or if I had done that.” Because the – I would have, could have, should have; means nothing on your bottom line and your bank balance.
The reality is: “I did make 7.9% in a day because I’ve got the strategy in place; I’ve got the confidence in the system. I see the trade, I take the trade, I have very low risk per trade, I was trading at a quarter to a half of 1% per trade depending on which of the trades I took. But a 7.9% gain in one day is an exceptional return with very low risk.
Now, that leads onto something else. As I’ve explained several times over the last six months or so, this year has been a very hard year for trading. It just has been. It’s been, not a huge amount of movements in the market. The volatility and the volume have been low.

2014 BarclayHedge Rankings
What I have here is a printout of the Barclay Hedge Rankings which ranks the Top 10 currency hedge funds within their world or at these guys rank which is pretty much all the top ones. This is for July so this goes up until the end of May, so up until the 31st of May – this is published in July, just out. Now for all those companies trading more than $10million combined funds, the highest return for the month of May was +4.67% and the highest out of those top 10 in the whole of 2014 is +15.31%.

Now on that list there are only 4 out of the 10 who’ve got positive figures for that overall performance for 2014. One of them has a -11.77% return for the year. And I'll read the list -2.7, -11.77,]]>443falsefullhttps://www.spreaker.com/episode/6-7-gain-and-the-importance-of-trading-forex-with-a-broker-who-has-a-5pm-est-new-york-start-of-day--122398116.7% Gain and The Importance of Trading Forex with a Broker Who Has a 5pm EST (New York) Start of Day
In this video:
00:42     6.7% gain just this week
02:00     Don’t just trade for the sake of trading
03:30     “Sunday Candle”- the problem with lots of brokers
05:51     Highly recommend 5pm Eastern Standard Time brokers
 
The Importance of Trading FOREX with a Broker Who Has a 5pm EST (New York) Start of Day
 
In today’s video and podcast, I want to discuss with you some fantastic trading results from this week plus also to stress the importance of why you should be trading FOREX using a broker who has a 5pm Eastern Standard Time (EST) start of day.
Let me share more with you right now.
 
Hi Forex traders, it’s Andrew Mitchem here from the Forex Trading Coach and today, is Friday, the 25th of July. There are two main topics for this video and podcast.

*
As I mentioned, some fantastic results.

*
The second is the importance of the correct charts.


 
Fantastic Trading Results
 
So firstly, let’s look at the results. Well, for me personally this week I’ve had a 6.7% gain on my account – just this week. Now that’s been helped by several longer timeframe charts closing, some trades on the monthly charts and also weekly charts. But also I’ve had a good week in terms of the daily charts and a few 1-hour charts as well. That’s been quite an interesting week because, you see, traditionally July is generally a very quiet month. A lot of the Northern Hemisphere public and summer holidays starting up and the market generally gets a bit thin. However, this year we’ve seen that throughout most of the years so far we’ve had a very difficult trading year with a lot of flat sideways, range-bound markets. And that continued even into the beginning of this week.
 
But then a couple of the days this week we’ve also seen some really good moves and of course that has really helped to close out some of those longer timeframe charts especially looking at Euro shorts and also looking at some Aussie longs as well. It has really helped with the trading results for this week. But it also goes to show that when the market is active and there’s a lot of price action, lots of opportunities; take them. The flip side of that is when the market is pretty quiet and there’s not a lot happening – “Don’t just trade for the sake of trading.” You don’t have to trade if there’s not much showing; don’t feel force to have to be trading in the conditions that aren’t suitable.
But as we’ve seen in the couple of days of really good price action, we can hope that, that continues into the rest of this month and into August and onwards later in the year. So that’s a great week considering market conditions.
+6.7%  : I’m very happy with that.
 
FOREX Charts
 
The second thing I want to talk about and this affects all of us as FOREX traders. Please ensure that you use a broker who has the 5pm Eastern Standard Time, that’s New York time start of day on their FOREX charts and it’s very, very important. Unfortunately, most brokers don’t understand how important it is. If you have a 5pm Eastern Standard Time start of day, it means that the week, the new week opens at 5 o’clock (5pm) New York time on a Sunday evening and it continues right the way through until 5 o’clock in the afternoon, 5pm on a Friday – New York time; that’s Eastern Standard Time. When you have that, go and look at your daily charts and you’ll notice that your day charts, there are five complete candles or five complete bars within the course of the week. They all represent 24-hours each so they’re all equal length of time, equal value.
 
The problem with the lots of brokers is they have what I call, “Sunday Candle”.]]>http://theforextradingcoach.com/?p=4836Sun, 27 Jul 2014 09:07:50 +0000Andrew MitchemPodcast: 6.7% Gain and The Importance of Trading Forex with a Broker Who Has a 5pm EST (New York) Start of Day In this video: 00:42     6.7% gain just this week 02:00     Don’t just trade for the sake of trading 03:30     “Sunday Candle”- the problem...6.7% Gain and The Importance of Trading Forex with a Broker Who Has a 5pm EST (New York) Start of Day
In this video:
00:42     6.7% gain just this week
02:00     Don’t just trade for the sake of trading
03:30     “Sunday Candle”- the problem with lots of brokers
05:51     Highly recommend 5pm Eastern Standard Time brokers
 
The Importance of Trading FOREX with a Broker Who Has a 5pm EST (New York) Start of Day
 
In today’s video and podcast, I want to discuss with you some fantastic trading results from this week plus also to stress the importance of why you should be trading FOREX using a broker who has a 5pm Eastern Standard Time (EST) start of day.
Let me share more with you right now.
 
Hi Forex traders, it’s Andrew Mitchem here from the Forex Trading Coach and today, is Friday, the 25th of July. There are two main topics for this video and podcast.

*
As I mentioned, some fantastic results.

*
The second is the importance of the correct charts.


 
Fantastic Trading Results
 
So firstly, let’s look at the results. Well, for me personally this week I’ve had a 6.7% gain on my account – just this week. Now that’s been helped by several longer timeframe charts closing, some trades on the monthly charts and also weekly charts. But also I’ve had a good week in terms of the daily charts and a few 1-hour charts as well. That’s been quite an interesting week because, you see, traditionally July is generally a very quiet month. A lot of the Northern Hemisphere public and summer holidays starting up and the market generally gets a bit thin. However, this year we’ve seen that throughout most of the years so far we’ve had a very difficult trading year with a lot of flat sideways, range-bound markets. And that continued even into the beginning of this week.
 
But then a couple of the days this week we’ve also seen some really good moves and of course that has really helped to close out some of those longer timeframe charts especially looking at Euro shorts and also looking at some Aussie longs as well. It has really helped with the trading results for this week. But it also goes to show that when the market is active and there’s a lot of price action, lots of opportunities; take them. The flip side of that is when the market is pretty quiet and there’s not a lot happening – “Don’t just trade for the sake of trading.” You don’t have to trade if there’s not much showing; don’t feel force to have to be trading in the conditions that aren’t suitable.
But as we’ve seen in the couple of days of really good price action, we can hope that, that continues into the rest of this month and into August and onwards later in the year. So that’s a great week considering market conditions.
+6.7%  : I’m very happy with that.
 
FOREX Charts
 
The second thing I want to talk about and this affects all of us as FOREX traders. Please ensure that you use a broker who has the 5pm Eastern Standard Time, that’s New York time start of day on their FOREX charts and it’s very, very important. Unfortunately, most brokers don’t understand how important it is. If you have a 5pm Eastern Standard Time start of day, it means that the week, the new week opens at 5 o’clock (5pm) New York time on a Sunday evening and it continues right the way through until 5 o’clock in the afternoon, 5pm on a Friday – New York time; that’s Eastern Standard Time. When you have that, go and look at your daily charts and you’ll notice that your day charts, there are five complete candles or five complete bars within the course of the week. They all represent 24-hours each so they’re all equal length of time, equal value.
 
The problem with the lots of brokers is they have what I call, “Sunday Candle”.]]>373falsefullhttps://www.spreaker.com/episode/exceptional-return-of-1-per-day--12239808Exceptional Return of 1% per Day
In this video:
01:03    A client with exceptional return (1% per day)
02:41    Weekly chart trade on the Euro/U.S. Dollar (EUR/USD)
04:52    A lot of strength in the Japanese Yen (JPY)
I’ve just been talking on the phone with a client of mine who’s making 1% return per day on his account. Let me share that and more details with you right now.
Hi traders it’s Andrew Mitchem here, the FOREX Trading Coach and today, is Friday, the 18th of July.
I’ve just got off the phone about half an hour ago with a client of mine who’s only been with me for just over one month and he’s based here in New Zealand and he’s really excited to share his trading results. I’m not going to mention names on this particular video and podcast but if you would like to find out more I’m sure he’ll be more than happy for me to pass on his details but he wanted to tell me that he spent a quite bit of a time initially when he bought the course studying it full time. The last couple of weeks he’s been trading, (he’s been trading since he started) but the last couple of weeks he’s been trading on a live account and he’s making 1% on average per day.
He did tell me his account size on a live account; I’m not going to divulge information but let’s just say he’s making more per day than most people on wages would be making per week. He was just really excited to share that information with me and just to let me know, obviously, one, he’s very happy with his own trading and the returns he’s getting and how much the course has helped him to develop from being a break-even type of trader to already this quickly making a really good return on his own trading and also of course gaining huge confidence from his trading.

FOREX Trading Strategies

*
Now he was telling me that he uses my daily analysis that I post for my clients each day and the strength and weakness analysis that I also post and looking at different currencies; some are strong some are weak for the day. So what he’s doing is he’s trading in those directions going down to the shorter time frame charts. He suggested that he’s looking at mostly the 15-minute time frame for refined entries but doing extremely well (1% per day) is just an exceptional return.


 
So I just wanted to share that information with you and just show you what is being achieved and what can be achieved by just having a really good strategy and place that suits you and that gives you confidence within your trading.
 

*
The other thing that also just happened about he hits a really good hour. Actually the last 30 minutes I was talking to him and just before I started this video. I’ve had a trade (weekly chart trade) on the Euro/U.S. Dollar (EUR/USD). It’s been open for two weeks so I took it on the 9th of July and it’s just closed for full profit – 4.6 to 1 reward to risk trade so that’s a pretty incredible return there. If you were to trade let’s say 0.5 of 1% on that trade which I did – that was a 2.3% return on my account just from that one trade.


 
Yes it took just over two weeks to hit the profit target but it didn’t take any more work and that’s the important thing to realise. It was taken on a weekly chart so I have to expect that it’s going to take 1, 2, 3 or 4 bars. In this case, it’s been weeks to come through the full profit.
 

*
If I was taking that same type of trades set up on the 15-minute charts, I might expect the trade to take 1, 2, 3, or 4 bars – in other words, at maybe from 15 minutes through to an hour or so to hit full profit. It really doesn’t matter what time frame chart you take your trades on. If you have a good strategy the actual candle patterns and the set ups, the technical setups are exactly the same.]]>http://theforextradingcoach.com/?p=4828Sun, 20 Jul 2014 06:43:04 +0000Andrew MitchemPodcast: Exceptional Return of 1% per Day In this video: 01:03    A client with exceptional return (1% per day) 02:41    Weekly chart trade on the Euro/U.S. Dollar (EUR/USD) 04:52    A lot of strength in the Japanese Yen (JPY) I’ve just been...Exceptional Return of 1% per Day
In this video:
01:03    A client with exceptional return (1% per day)
02:41    Weekly chart trade on the Euro/U.S. Dollar (EUR/USD)
04:52    A lot of strength in the Japanese Yen (JPY)
I’ve just been talking on the phone with a client of mine who’s making 1% return per day on his account. Let me share that and more details with you right now.
Hi traders it’s Andrew Mitchem here, the FOREX Trading Coach and today, is Friday, the 18th of July.
I’ve just got off the phone about half an hour ago with a client of mine who’s only been with me for just over one month and he’s based here in New Zealand and he’s really excited to share his trading results. I’m not going to mention names on this particular video and podcast but if you would like to find out more I’m sure he’ll be more than happy for me to pass on his details but he wanted to tell me that he spent a quite bit of a time initially when he bought the course studying it full time. The last couple of weeks he’s been trading, (he’s been trading since he started) but the last couple of weeks he’s been trading on a live account and he’s making 1% on average per day.
He did tell me his account size on a live account; I’m not going to divulge information but let’s just say he’s making more per day than most people on wages would be making per week. He was just really excited to share that information with me and just to let me know, obviously, one, he’s very happy with his own trading and the returns he’s getting and how much the course has helped him to develop from being a break-even type of trader to already this quickly making a really good return on his own trading and also of course gaining huge confidence from his trading.

FOREX Trading Strategies

*
Now he was telling me that he uses my daily analysis that I post for my clients each day and the strength and weakness analysis that I also post and looking at different currencies; some are strong some are weak for the day. So what he’s doing is he’s trading in those directions going down to the shorter time frame charts. He suggested that he’s looking at mostly the 15-minute time frame for refined entries but doing extremely well (1% per day) is just an exceptional return.


 
So I just wanted to share that information with you and just show you what is being achieved and what can be achieved by just having a really good strategy and place that suits you and that gives you confidence within your trading.
 

*
The other thing that also just happened about he hits a really good hour. Actually the last 30 minutes I was talking to him and just before I started this video. I’ve had a trade (weekly chart trade) on the Euro/U.S. Dollar (EUR/USD). It’s been open for two weeks so I took it on the 9th of July and it’s just closed for full profit – 4.6 to 1 reward to risk trade so that’s a pretty incredible return there. If you were to trade let’s say 0.5 of 1% on that trade which I did – that was a 2.3% return on my account just from that one trade.


 
Yes it took just over two weeks to hit the profit target but it didn’t take any more work and that’s the important thing to realise. It was taken on a weekly chart so I have to expect that it’s going to take 1, 2, 3 or 4 bars. In this case, it’s been weeks to come through the full profit.
 

*
If I was taking that same type of trades set up on the 15-minute charts, I might expect the trade to take 1, 2, 3, or 4 bars – in other words, at maybe from 15 minutes through to an hour or so to hit full profit. It really doesn’t matter what time frame chart you take your trades on. If you have a good strategy the actual candle patterns and the set ups, the technical setups are exactly the same.]]>378falsefullhttps://www.spreaker.com/episode/how-much-are-you-worth-per-hour--12239812How much are you worth per hour?
In this video:
01:55    Income benefits from trading FOREX
05:00    2.2% gain without any extra work
07:11    NZD – big mover of the week!
How much are you worth in your job per hour?
It’s something that as FOREX traders luckily we don’t really need to worry about and I'll share more with you right now.
Hi traders it’s Andrew Mitchem here, the FOREX Trading Coach – and today, is Friday the 11th of July.
And I want to talk about the differences between most people – having a job where you get paid so much per hour and FOREX traders. Because we're a little bit more like self-employed people where the hourly rate is not such a big issue. When you have a normal let’s say 9:00 – 5:00 job, you get paid so much per hour and that hourly rate can depend on certain things like what type of job you do, how far up let’s say the corporate ladder you are or whether you’re doing a technical job or a manual job, how much experience you have. It could be to do with what part of the country you live and what part of the world you live as there are different hourly rates for the same job but in different parts and so it’s very much dependent on that.
The good thing as I suppose you know, you work X number of hours, you get X number of dollars or pounds or Yen or whatever currency you’re paid in. The downside is of course and that with most jobs is that if you want to increase your wages and have more money, if that is what your goal is, then you generally have to work either more hours to get more money per hour or over the course of a week or you have to work yourself up through to a higher paying job which can very often mean more stress, more time away from your home and your family and that type of thing. And so having a high paying job is not always the very best thing in terms of a high hourly rate.
The beauty that I’ve always been attracted to the FOREX market:
In terms of the benefits of the income side of things from trading FOREX is that the quality of the trades that you take are the thing that really makes the difference. It’s not so much how many hours you spend staring at screens and charts, reading through forums or anything like that. That really doesn’t have very much of a bearing at all once you understand how to trade. You know it’s not to do with, “Oh, I’ve spent 10 hours today staring at charts therefore I’m likely to make X number of dollars or percent.” That doesn’t have any relevance.
I'll give you some examples from a webinar that I held for my clients yesterday.

*
It was almost about a 2 ½ hour webinar. It was a very long webinar. Really good one with a lot of great questions asked and some trades taken. There are just brilliant ways to learn to trade in real time. It’s the live webinar where I trade on my charts here behind me in front of my clients on a live account and take trades in real time.



*
 I had a client who took a trade on the 30-minute charts. It lasted for 3 bars, that’s 1 ½ hours and he made a 4.4 reward to risk trade on a 30-minute chart. So that if you let’s say you’re risking 0.5 of 1% per trade – that’s a 2.2% return. Now it lasted 3 bars which is an 1½. It doesn’t mean to say he was sat there watching it for 3 bars or 1½ hour. But you know it’s just put the trade on potentially leave it. You might want to monitor it but even if he sat there for the whole 1½ hour which he didn’t. But even if he did it, you know that’s a 2.2% account return just in that time. Now there maybe a number of hours or it could be several days between a quality setup like that again. Who knows?  It just depends on the current market conditions.



*
I had a trader on a one-minute chart say to me, “Hey Andrew I’m taking a setup. It was a sell trade on the British Pound/US Dol...]]>http://theforextradingcoach.com/?p=4819Sun, 13 Jul 2014 22:54:39 +0000Andrew MitchemPodcast: How much are you worth per hour? In this video: 01:55    Income benefits from trading FOREX 05:00    2.2% gain without any extra work 07:11    NZD – big mover of the week! How much are you worth in your job per hour? It’s something that as...How much are you worth per hour?
In this video:
01:55    Income benefits from trading FOREX
05:00    2.2% gain without any extra work
07:11    NZD – big mover of the week!
How much are you worth in your job per hour?
It’s something that as FOREX traders luckily we don’t really need to worry about and I'll share more with you right now.
Hi traders it’s Andrew Mitchem here, the FOREX Trading Coach – and today, is Friday the 11th of July.
And I want to talk about the differences between most people – having a job where you get paid so much per hour and FOREX traders. Because we're a little bit more like self-employed people where the hourly rate is not such a big issue. When you have a normal let’s say 9:00 – 5:00 job, you get paid so much per hour and that hourly rate can depend on certain things like what type of job you do, how far up let’s say the corporate ladder you are or whether you’re doing a technical job or a manual job, how much experience you have. It could be to do with what part of the country you live and what part of the world you live as there are different hourly rates for the same job but in different parts and so it’s very much dependent on that.
The good thing as I suppose you know, you work X number of hours, you get X number of dollars or pounds or Yen or whatever currency you’re paid in. The downside is of course and that with most jobs is that if you want to increase your wages and have more money, if that is what your goal is, then you generally have to work either more hours to get more money per hour or over the course of a week or you have to work yourself up through to a higher paying job which can very often mean more stress, more time away from your home and your family and that type of thing. And so having a high paying job is not always the very best thing in terms of a high hourly rate.
The beauty that I’ve always been attracted to the FOREX market:
In terms of the benefits of the income side of things from trading FOREX is that the quality of the trades that you take are the thing that really makes the difference. It’s not so much how many hours you spend staring at screens and charts, reading through forums or anything like that. That really doesn’t have very much of a bearing at all once you understand how to trade. You know it’s not to do with, “Oh, I’ve spent 10 hours today staring at charts therefore I’m likely to make X number of dollars or percent.” That doesn’t have any relevance.
I'll give you some examples from a webinar that I held for my clients yesterday.

*
It was almost about a 2 ½ hour webinar. It was a very long webinar. Really good one with a lot of great questions asked and some trades taken. There are just brilliant ways to learn to trade in real time. It’s the live webinar where I trade on my charts here behind me in front of my clients on a live account and take trades in real time.



*
 I had a client who took a trade on the 30-minute charts. It lasted for 3 bars, that’s 1 ½ hours and he made a 4.4 reward to risk trade on a 30-minute chart. So that if you let’s say you’re risking 0.5 of 1% per trade – that’s a 2.2% return. Now it lasted 3 bars which is an 1½. It doesn’t mean to say he was sat there watching it for 3 bars or 1½ hour. But you know it’s just put the trade on potentially leave it. You might want to monitor it but even if he sat there for the whole 1½ hour which he didn’t. But even if he did it, you know that’s a 2.2% account return just in that time. Now there maybe a number of hours or it could be several days between a quality setup like that again. Who knows?  It just depends on the current market conditions.



*
I had a trader on a one-minute chart say to me, “Hey Andrew I’m taking a setup. It was a sell trade on the British Pound/US Dol...]]>561falsefullhttps://www.spreaker.com/episode/going-solo-from-demo-to-a-live-account--12239813“Going Solo” From Demo to a Live Account: Lessons from the Air
 

In this video:
 
00:26   From a demo account to a live account
02:23   Flew a helicopter solo for the very first time
04:59   4.3% net gain out of five trades
 

Are you ready to go solo in your FOREX trading? Maybe you are already flying solo. Let me share more with you right now.
 
Hi, traders! It’s Andrew Mitchem here, the FOREX Trading Coach – and today, is Friday, the 4th of July. So, for all of you in the States, Happy Independence Day, and I hope you’re having a fantastic holiday.

And I want to talk about “going solo.” Now, what I mean by that is that in FOREX trading, going solo really means going from a demo account to a live account. And it’s a question I get asked so many times. People say to me, “Hey, Andrew, look – when’s a good time to go from a demo to a live account? When will I know?”
 
And I suppose it’s different for everybody. But some of the main points would be: 
 

*
You would know. You’ve got to be comfortable when you go live.  It depends on how much maybe education you have, how much knowledge around trading, how long you’ve been trading, the results you’ve been achieving — and how dedicated you are to your trading because the dedication is a really important aspect of FOREX trading. 

*
Take your trading seriously. When you are on demo, it’s very, very easy to become very blasé about your trading and just say, “Oh, it doesn’t matter if I lose that trade,” or, “The trade can stay open over the weekend. It doesn’t matter it’s not real money.” And having that whole – not gambling approach – but that sort of Monopoly, “it’s not real” type of approach. And it’s very, very dangerous.

*
Demo the amount you’ll trade. Another thing I’ve talked about so many times is that so many people open an account on a demo with a huge sum of money – let’s say a $100,000 account – knowing full well that when they go live for the first time, their account may be let’s say $1,000 or $5,000.  It’s very dangerous, in my opinion, to open up a huge demo account – because it makes FOREX trading and making money potentially look too easy. My advice would be, if you know that you’re going to start with, say, a $5,000 account when you go live (and you have $5,000 saved up to put into that account), what you should do is when you still on demo make sure you trade the $5,000 demo account. Because then, when you make the transition to live, there’s nothing you need to do differently.

*
Trust yourself and don’t give up. Now, for me, I did the demo to live thing years ago – like, 10 years ago. But yesterday, I flew a helicopter solo for the very first time. It’s a great achievement — and I feel very proud to have done that. But, much like the trading, it’s taken a lot of dedication, a lot of heartache, and almost giving up: “Can I do this? Can I not? Can I actually master this skill of control of this flying this helicopter?”. So, there’s been some self doubt along the way. 

*
Find great teachers. Also, there’s been the need to seek good education. You know, I’ve gone to the very best instructors that I could find – I’ve got a fantastic instructor. He’s given me a hard time, and he’s pushed me and pushed me, and given me lots of extra work to do.  Having said that, he’s also shown me the right way to do things. 

*
Do nothing different.When I went solo yesterday, yes, I was slightly nervous —  in the machine by myself, having to take off, hover, take off, do a circuit, etc. –by myself.  I had some guidance with him on the radio talking through,]]>http://theforextradingcoach.com/?p=4812Sun, 06 Jul 2014 08:13:06 +0000Andrew MitchemPodcast: “Going Solo” From Demo to a Live Account: Lessons from the Air   In this video:   00:26   From a demo account to a live account 02:23   Flew a helicopter solo for the very first time 04:59   4.3% net gain out of five trades   Are you ready...“Going Solo” From Demo to a Live Account: Lessons from the Air
 

In this video:
 
00:26   From a demo account to a live account
02:23   Flew a helicopter solo for the very first time
04:59   4.3% net gain out of five trades
 

Are you ready to go solo in your FOREX trading? Maybe you are already flying solo. Let me share more with you right now.
 
Hi, traders! It’s Andrew Mitchem here, the FOREX Trading Coach – and today, is Friday, the 4th of July. So, for all of you in the States, Happy Independence Day, and I hope you’re having a fantastic holiday.

And I want to talk about “going solo.” Now, what I mean by that is that in FOREX trading, going solo really means going from a demo account to a live account. And it’s a question I get asked so many times. People say to me, “Hey, Andrew, look – when’s a good time to go from a demo to a live account? When will I know?”
 
And I suppose it’s different for everybody. But some of the main points would be: 
 

*
You would know. You’ve got to be comfortable when you go live.  It depends on how much maybe education you have, how much knowledge around trading, how long you’ve been trading, the results you’ve been achieving — and how dedicated you are to your trading because the dedication is a really important aspect of FOREX trading. 

*
Take your trading seriously. When you are on demo, it’s very, very easy to become very blasé about your trading and just say, “Oh, it doesn’t matter if I lose that trade,” or, “The trade can stay open over the weekend. It doesn’t matter it’s not real money.” And having that whole – not gambling approach – but that sort of Monopoly, “it’s not real” type of approach. And it’s very, very dangerous.

*
Demo the amount you’ll trade. Another thing I’ve talked about so many times is that so many people open an account on a demo with a huge sum of money – let’s say a $100,000 account – knowing full well that when they go live for the first time, their account may be let’s say $1,000 or $5,000.  It’s very dangerous, in my opinion, to open up a huge demo account – because it makes FOREX trading and making money potentially look too easy. My advice would be, if you know that you’re going to start with, say, a $5,000 account when you go live (and you have $5,000 saved up to put into that account), what you should do is when you still on demo make sure you trade the $5,000 demo account. Because then, when you make the transition to live, there’s nothing you need to do differently.

*
Trust yourself and don’t give up. Now, for me, I did the demo to live thing years ago – like, 10 years ago. But yesterday, I flew a helicopter solo for the very first time. It’s a great achievement — and I feel very proud to have done that. But, much like the trading, it’s taken a lot of dedication, a lot of heartache, and almost giving up: “Can I do this? Can I not? Can I actually master this skill of control of this flying this helicopter?”. So, there’s been some self doubt along the way. 

*
Find great teachers. Also, there’s been the need to seek good education. You know, I’ve gone to the very best instructors that I could find – I’ve got a fantastic instructor. He’s given me a hard time, and he’s pushed me and pushed me, and given me lots of extra work to do.  Having said that, he’s also shown me the right way to do things. 

*
Do nothing different.When I went solo yesterday, yes, I was slightly nervous —  in the machine by myself, having to take off, hover, take off, do a circuit, etc. –by myself.  I had some guidance with him on the radio talking through,]]>410falsefullhttps://www.spreaker.com/episode/do-you-need-a-forex-doctor--12239818
Do You Need A Forex Doctor?
In this video:
00:43     The need for A Forex Doctor
02:18     The importance of Psychology within Forex
05:52     The new look website is now live 
Time For A Forex Doctor? 
Do you feel that you need yourself a Forex Doctor? If you do I’ve got some really valuable information I’d like to share with you right now. Hi Forex traders it’s Andrew Mitchem here and I’m the owner of the The Forex Trading Coach one of the biggest Forex education companies online today with the 5-year history of teaching clients all around the world. 
Now I’d like to talk about psychology within trading in this session because it's something that is really underestimated and I’ve had quite a number of requests from people on YouTube comments and also from non-clients and also from clients to talk about the need for Forex Doctor or to talk about Psychology behind trading and the importance of it in order to be a trader who can make money consistently and over a period of time and it’s something that’s underestimated. 
When people jump into trading all they want to do is they want to understand how the charts work behind me here that you know they want to understand candle patterns or news and all those things and it’s really important but if you don’t have the mental stability in terms of being able to take trades, when to pull the trigger, when to exit a trade, when to stick to your plan if you can’t do that then a lot of the other important things become watered down because you’ve got to have a strong mindset to trade but you’ve got to be comfortable with your trading system so a whole Psychology behind trading especially when you’re talking about trading with real money. 
It hurts you when you have losing trades and you see your account going down and you see negative trades it really does hurt you and it affects you in two ways: It affects your head and it affects your heart and your emotions. There’s no question about it and as I’ve mentioned it’s a very underestimated but very important part of being a successful Forex trader.
 
Understand Your Strategy
So we spend quite a bit of time with my clients yesterday on our live 2-hour trading room sessions talking about the importance of Psychology within Forex. There’s a number of things that I would like to talk about because to me you have to be comfortable with the strategy that you employ. You’ve got to have full confidence in it. It doesn’t matter what that strategy is, it means that you have to be comfortable with the style and its approach so it means to be something that suits your personality. Now it’s the same when it comes to the time frame charts that you chose to trade. If you’re the sort of person who likes to trade real short time frames then great go for it but don’t be placing trades on weekly and monthly charts likewise if you’re the sort of person who likes to just look at your charts once a week or once a day then you need to be on those longer time frame charts but again it what suits you.
We had a question on the webinar last night from a client who was saying to me he has 80% win rate yet he wasn’t quite happy with his trading and it was because he was feeling that he was being so picky with setups that he was missing out on a lot of trades that he was 50/50 with but unable to pull the trigger and I suppose there’s two ways of looking at the solution there. First of all an 80% win rate is outstanding so my first suggestion was don’t change too much because an 80% win rate in terms of picking good trades with high returns is excellent. He could potentially look at increasing his risk per trade. He could also look at trading other markets non-Forex markets as well because he was predominantly looking a...]]>http://theforextradingcoach.com/?p=4795Sun, 29 Jun 2014 19:09:07 +0000Andrew MitchemPodcast: Do You Need A Forex Doctor? In this video: 00:43     The need for A Forex Doctor 02:18     The importance of Psychology within Forex 05:52     The new look website is now live  Time For A Forex Doctor?  Do you feel that you need yourself a...
Do You Need A Forex Doctor?
In this video:
00:43     The need for A Forex Doctor
02:18     The importance of Psychology within Forex
05:52     The new look website is now live 
Time For A Forex Doctor? 
Do you feel that you need yourself a Forex Doctor? If you do I’ve got some really valuable information I’d like to share with you right now. Hi Forex traders it’s Andrew Mitchem here and I’m the owner of the The Forex Trading Coach one of the biggest Forex education companies online today with the 5-year history of teaching clients all around the world. 
Now I’d like to talk about psychology within trading in this session because it's something that is really underestimated and I’ve had quite a number of requests from people on YouTube comments and also from non-clients and also from clients to talk about the need for Forex Doctor or to talk about Psychology behind trading and the importance of it in order to be a trader who can make money consistently and over a period of time and it’s something that’s underestimated. 
When people jump into trading all they want to do is they want to understand how the charts work behind me here that you know they want to understand candle patterns or news and all those things and it’s really important but if you don’t have the mental stability in terms of being able to take trades, when to pull the trigger, when to exit a trade, when to stick to your plan if you can’t do that then a lot of the other important things become watered down because you’ve got to have a strong mindset to trade but you’ve got to be comfortable with your trading system so a whole Psychology behind trading especially when you’re talking about trading with real money. 
It hurts you when you have losing trades and you see your account going down and you see negative trades it really does hurt you and it affects you in two ways: It affects your head and it affects your heart and your emotions. There’s no question about it and as I’ve mentioned it’s a very underestimated but very important part of being a successful Forex trader.
 
Understand Your Strategy
So we spend quite a bit of time with my clients yesterday on our live 2-hour trading room sessions talking about the importance of Psychology within Forex. There’s a number of things that I would like to talk about because to me you have to be comfortable with the strategy that you employ. You’ve got to have full confidence in it. It doesn’t matter what that strategy is, it means that you have to be comfortable with the style and its approach so it means to be something that suits your personality. Now it’s the same when it comes to the time frame charts that you chose to trade. If you’re the sort of person who likes to trade real short time frames then great go for it but don’t be placing trades on weekly and monthly charts likewise if you’re the sort of person who likes to just look at your charts once a week or once a day then you need to be on those longer time frame charts but again it what suits you.
We had a question on the webinar last night from a client who was saying to me he has 80% win rate yet he wasn’t quite happy with his trading and it was because he was feeling that he was being so picky with setups that he was missing out on a lot of trades that he was 50/50 with but unable to pull the trigger and I suppose there’s two ways of looking at the solution there. First of all an 80% win rate is outstanding so my first suggestion was don’t change too much because an 80% win rate in terms of picking good trades with high returns is excellent. He could potentially look at increasing his risk per trade. He could also look at trading other markets non-Forex markets as well because he was predominantly looking a...]]>483falsefullhttps://www.spreaker.com/episode/the-key-ingredients-needed-to-be-a-successful-forex-trader--12239817
The Key Ingredients Needed To Be a Successful Forex Trader
In this video:
01:15     Don’t rush things!
03:17     Having a system that actually suits your personality
06:09     New look website
I want to talk about what you need to do in order to be a successful trader. Let me share more details with you right now. 
Hi traders it’s Andrew Mitchem here from The Forex Trading Coach today is Friday the 20th of June and I want to talk about some of the really key ingredients that you need to have in place within your trading and within your whole approach to your trading in order to ensure a long term success as a Forex trader. 
Don’t rush things!
So the important thing to remember is if you’re fairly new to trading don’t rush it. Some people become really excited by trading and they rush into it and they want suddenly become Forex experts and professional traders and fund managers and they want to suddenly give up their job and become a full time trader when realistically they've probably not even made money on a demo account so it’s really important that you don’t rush it because obviously put it out their own Internet to be such an exciting fast paced easy way to make money type of business and realistically it’s not it takes time, work and dedication like anything else that’s good in life so my advise though is don’t rush things take your time and go through the whole process as you would with any other business that you’re starting into or any other hobby or whatever it might be that you join. You know, you start slowly and you work your way up no difference to Forex trading. So take your time and be consistent with what you do.
Having a system that actually suits your personality
The other thing is don’t chop and change systems; a thing that almost everybody would have done. I used to do it when I started trading so much of the time and I know it’s a big common issue and mistake and problem that so many people get into because they try rushing things and a system that they try and doesn’t work instantly or it works and it doesn’t for the next several weeks after. 
People are very quick to jump on to the next latest greatest Holy Grail type of system or they have a system that they’ve  been given all their purchase or they've invented themselves and they didn’t start tinkering with it and optimizing it and adding more indicators and changing things. Well realistically if you have a good solid strategy and system in place you don’t need or you shouldn’t need to change it providing it makes sense too and that leads on to the next thing. 
Whatever system or strategy that you use whether you want to become a technical trader or fundamental trader a combination of both, you use a mechanical system whether you use my system or someone else’s system your own system whatever it is it doesn’t matter. 
It needs to work for you and you need to feel comfortable with it. A lot of people will say, “You know technical trading doesn’t work; other people say fundamental doesn’t work yet there are people on both side of the fence that make it work perfectly adequately. 
There’s nothing wrong with combining their approaches and so people that say that one or the other doesn’t work all the time it’s just nonsense because it does for some people. I just happened to personally chose to be a technical trader. It doesn’t mean to say that fundamental doesn’t work it means that fundamentals are not what suits me and so it’s important to have a system that actually suits your personality so that’s another really important point and just because someone is selling a system that happens to be all about news trading doesn’t mean to say it’s going to work for you. 
I might be selling a system that’s all about technical trading it doesn’t mean to say it’s...]]>http://theforextradingcoach.com/?p=4723Sun, 22 Jun 2014 09:32:16 +0000Andrew MitchemPodcast: The Key Ingredients Needed To Be a Successful Forex Trader In this video: 01:15     Don’t rush things! 03:17     Having a system that actually suits your personality 06:09     New look website I want to talk about what you need to do in...
The Key Ingredients Needed To Be a Successful Forex Trader
In this video:
01:15     Don’t rush things!
03:17     Having a system that actually suits your personality
06:09     New look website
I want to talk about what you need to do in order to be a successful trader. Let me share more details with you right now. 
Hi traders it’s Andrew Mitchem here from The Forex Trading Coach today is Friday the 20th of June and I want to talk about some of the really key ingredients that you need to have in place within your trading and within your whole approach to your trading in order to ensure a long term success as a Forex trader. 
Don’t rush things!
So the important thing to remember is if you’re fairly new to trading don’t rush it. Some people become really excited by trading and they rush into it and they want suddenly become Forex experts and professional traders and fund managers and they want to suddenly give up their job and become a full time trader when realistically they've probably not even made money on a demo account so it’s really important that you don’t rush it because obviously put it out their own Internet to be such an exciting fast paced easy way to make money type of business and realistically it’s not it takes time, work and dedication like anything else that’s good in life so my advise though is don’t rush things take your time and go through the whole process as you would with any other business that you’re starting into or any other hobby or whatever it might be that you join. You know, you start slowly and you work your way up no difference to Forex trading. So take your time and be consistent with what you do.
Having a system that actually suits your personality
The other thing is don’t chop and change systems; a thing that almost everybody would have done. I used to do it when I started trading so much of the time and I know it’s a big common issue and mistake and problem that so many people get into because they try rushing things and a system that they try and doesn’t work instantly or it works and it doesn’t for the next several weeks after. 
People are very quick to jump on to the next latest greatest Holy Grail type of system or they have a system that they’ve  been given all their purchase or they've invented themselves and they didn’t start tinkering with it and optimizing it and adding more indicators and changing things. Well realistically if you have a good solid strategy and system in place you don’t need or you shouldn’t need to change it providing it makes sense too and that leads on to the next thing. 
Whatever system or strategy that you use whether you want to become a technical trader or fundamental trader a combination of both, you use a mechanical system whether you use my system or someone else’s system your own system whatever it is it doesn’t matter. 
It needs to work for you and you need to feel comfortable with it. A lot of people will say, “You know technical trading doesn’t work; other people say fundamental doesn’t work yet there are people on both side of the fence that make it work perfectly adequately. 
There’s nothing wrong with combining their approaches and so people that say that one or the other doesn’t work all the time it’s just nonsense because it does for some people. I just happened to personally chose to be a technical trader. It doesn’t mean to say that fundamental doesn’t work it means that fundamentals are not what suits me and so it’s important to have a system that actually suits your personality so that’s another really important point and just because someone is selling a system that happens to be all about news trading doesn’t mean to say it’s going to work for you. 
I might be selling a system that’s all about technical trading it doesn’t mean to say it’s...]]>489falsefullhttps://www.spreaker.com/episode/when-is-the-best-time-to-trade-forex--12239819When is the best time to trade Forex?
In this video:
00:49     Trade when it suits you
02:38     The way that I trade normally when I’m at home or travelling
05:20     Getting the most price action
In this video and podcast I want to explain some information about when you should trade because it’s a question that I get asked quite a lot. So let me explain more in detail right now. 
Hi traders, it’s Andrew Mitchem the Forex Trading Coach. Today is Friday the 13th of June so hope you’re okay on Friday the 13th.
I want to talk about when you should trade. Because as I mentioned, I get that question asked so much, especially by people who are not clients; people who  are maybe new to trading and people say, “Look Andrew, when should I trade and when is the best time, what time frame should I trade?" and a lot of questions like that. And really the answer, it's probably not what they want to hear but the answer that I mostly give is look, trade when it suits you. 
You see, there’s no right and wrong time to trade. Of course if you’re trading, maybe let’s say, shorter time frame chart trades and you’re entering a position in the market, ideally it probably you want to be trading when there’s likely to be more activity in the market. So possibly like into the European session or the US session if you can. And I do have clients who trade maybe for 1-3 hours in a session and they’ll be looking at charts, say like 15-minutes, 5-minute charts and 1-minute charts  and they’ll be looking at those shorter time frame charts; looking at predominantly market orders entering at the market straight away based on candle patterns and chart setups that I teach them and that’s also how I trade when I’m trading on my live webinars which I hold for my clients every two weeks because we’re on there, live and we’re looking for a number of trades, if they show during the session. 
In fact I also had an email overnight from a client in the US who took a 5 to 1 return trade, a 5 to 1  reward to risk on a 1-minute chart trade just yesterday and when you think about that that's a pretty amazing return. He was trading half of 1%, let say, on that trade so only half of 1% yet his return was five times that so his return was 2.5% return gain on his account from just one trade with very low risk on a 1-minute chart. So it shows what it can be done if you’re the sort of person who enjoys trading those shorter time frame charts looking for the good setups. But of course you do need to accept that to trade 1-minute charts you need to be there right then at the market taking the trade.
The way that I trade normally myself when I’m at home here in my office, I'll trade 1-hour chart trades during the European session if I see any good setups then I'll trade 4-hour charts and I'll trade daily charts. 
On top of that I also trade weekly charts just once a week at the beginning of the week and I also look at the monthly charts when the month changes over. And if I’m travelling, let’s say and I’m away on holiday, I don’t want to be looking at charts all day long you know I can do that here behind me right now. I don’t need to be doing that way  when I’m away on a holiday or I’ve got meetings or whatever it might be and same for you if you have family activities or work commitments or travel, holidays, whatever it might be you don’t have to be looking at the charts all day and long; you don’t need to. 
You can use limit orders. You know I used a lot of a buy and sell limit orders, a pending orders to enter at the market if the price reaches your chosen price entry and of course you have your stop loss and your profit target and your risk all factored in. So you don’t to be there when the price gets to that level if you use limit orders- they're a great way to...]]>http://theforextradingcoach.com/?p=4803Sun, 15 Jun 2014 10:04:07 +0000Andrew MitchemPodcast: When is the best time to trade Forex? In this video: 00:49     Trade when it suits you 02:38     The way that I trade normally when I’m at home or travelling 05:20     Getting the most price action In this video and podcast I want to explain...When is the best time to trade Forex?
In this video:
00:49     Trade when it suits you
02:38     The way that I trade normally when I’m at home or travelling
05:20     Getting the most price action
In this video and podcast I want to explain some information about when you should trade because it’s a question that I get asked quite a lot. So let me explain more in detail right now. 
Hi traders, it’s Andrew Mitchem the Forex Trading Coach. Today is Friday the 13th of June so hope you’re okay on Friday the 13th.
I want to talk about when you should trade. Because as I mentioned, I get that question asked so much, especially by people who are not clients; people who  are maybe new to trading and people say, “Look Andrew, when should I trade and when is the best time, what time frame should I trade?" and a lot of questions like that. And really the answer, it's probably not what they want to hear but the answer that I mostly give is look, trade when it suits you. 
You see, there’s no right and wrong time to trade. Of course if you’re trading, maybe let’s say, shorter time frame chart trades and you’re entering a position in the market, ideally it probably you want to be trading when there’s likely to be more activity in the market. So possibly like into the European session or the US session if you can. And I do have clients who trade maybe for 1-3 hours in a session and they’ll be looking at charts, say like 15-minutes, 5-minute charts and 1-minute charts  and they’ll be looking at those shorter time frame charts; looking at predominantly market orders entering at the market straight away based on candle patterns and chart setups that I teach them and that’s also how I trade when I’m trading on my live webinars which I hold for my clients every two weeks because we’re on there, live and we’re looking for a number of trades, if they show during the session. 
In fact I also had an email overnight from a client in the US who took a 5 to 1 return trade, a 5 to 1  reward to risk on a 1-minute chart trade just yesterday and when you think about that that's a pretty amazing return. He was trading half of 1%, let say, on that trade so only half of 1% yet his return was five times that so his return was 2.5% return gain on his account from just one trade with very low risk on a 1-minute chart. So it shows what it can be done if you’re the sort of person who enjoys trading those shorter time frame charts looking for the good setups. But of course you do need to accept that to trade 1-minute charts you need to be there right then at the market taking the trade.
The way that I trade normally myself when I’m at home here in my office, I'll trade 1-hour chart trades during the European session if I see any good setups then I'll trade 4-hour charts and I'll trade daily charts. 
On top of that I also trade weekly charts just once a week at the beginning of the week and I also look at the monthly charts when the month changes over. And if I’m travelling, let’s say and I’m away on holiday, I don’t want to be looking at charts all day long you know I can do that here behind me right now. I don’t need to be doing that way  when I’m away on a holiday or I’ve got meetings or whatever it might be and same for you if you have family activities or work commitments or travel, holidays, whatever it might be you don’t have to be looking at the charts all day and long; you don’t need to. 
You can use limit orders. You know I used a lot of a buy and sell limit orders, a pending orders to enter at the market if the price reaches your chosen price entry and of course you have your stop loss and your profit target and your risk all factored in. So you don’t to be there when the price gets to that level if you use limit orders- they're a great way to...]]>393falsefullhttps://www.spreaker.com/episode/why-i-trade-with-the-main-currency-strength-and-weaknesses-each-day--12239821Why I Trade With The Main Currency Strength and Weaknesses Each Day
In this video:
00:25     An important part of my daily trading routine
04:59     US Non-Farm Payrolls on the 1st Friday of the month
07:13     The Lot Size Calculator and how you can get your copy? I want to explain why I really enjoyed trading with the main currency strength and weaknesses each day. Let me share more details with you right now. 
 
Hi traders it’s Andrew Mitchem here from the Forex Trading Coach and today is Friday the 6th of June.An important part of my daily trading routine

I want to talk about currency strength and weakness. For me it’s something that’s quite important and it plays an important part of my daily trading routine and I like to share with you the reasons why because to me it’s quite a logical thing. If a particular currency is looking very strong and it’s looking strong against all other currencies and you then have another currency looking very weak and that’s looking particularly weak against all almost other currencies it seems logical to be trading in the direction of that pair when you put the two together. 
 
You take the strongest currency pair or your strongest currency and your weakest currency. Let’s say the strongest currency is the EUR and the weakest currency is the USD as an example put the two together it makes sense for today to trade as looking for buy trades on the EUR/USD. Now a few days time we might find that let’s say for example the same two you might find that next week the USD might be looking really strong and the EUR’s looking really weak. Again put the two together and it makes sense for that day and the upcoming day to be looking for short positions on the EUR/USD because your main dominant strength at that time or your main dominant direction for the EUR/USD to be falling so to me it makes logical sense. 
 
Well that’s fine but how do we use it and what advantages does it give us. Well  to me it helps keep me on the right side of the likely direction for that upcoming day so I go back to the example again let’s say the EUR is looking strong the USD is looking weak. For today I’m looking for predominantly buy-trades only on the EUR/USD and again what that does for me well it keeps me on the right side of course where I’m assuming or I’m looking for that currency to go. But what it also does is it helps me with confidence it helps me with not taking short positions on that pair for the day. Let’s say that the EUR/USD is going up really nicely and I haven’t taken any trades. I’ve either missed them or haven’t seen any it’s going up nicely but then it pulls back. Now a lot of people might be taking sell positions on that EUR/USD but I prefer to leave those setups. I might see a really good sell setup but because my main dominant strength for that day is for buy-trades I’m ignoring the sell setup. I’m letting the sell position or the retracement the sell off happen and I’m much preferring to then wait for bullish candles and buy setups in order to jump in as at a lower price at a better price and then ride the EUR/USD backup again after it had its retracement because don’t forget no currency just does that nothing goes up in a straight line or 45 degree angle line. 
 
Everything moves up and down. It moves up it pulls back and moves up and it has a bigger pull back sometimes but all together still moving up but it may move up and then retrace many, many times within that overall uptrend. The other scenario is let’s say I’m looking for buy trades on the EUR/USD and I don’t see any and the EUR/USD just sells, sells, sells just keeps falling day. What does it mean for me? Well most importantly it means I probably haven’t ended any buy-trades because I haven’t seen any.]]>http://theforextradingcoach.com/?p=4191Sun, 08 Jun 2014 20:28:40 +0000Andrew MitchemPodcast: Why I Trade With The Main Currency Strength and Weaknesses Each Day In this video: 00:25     An important part of my daily trading routine 04:59     US Non-Farm Payrolls on the 1st Friday of the month 07:13     The Lot Size Calculator and...Why I Trade With The Main Currency Strength and Weaknesses Each Day
In this video:
00:25     An important part of my daily trading routine
04:59     US Non-Farm Payrolls on the 1st Friday of the month
07:13     The Lot Size Calculator and how you can get your copy? I want to explain why I really enjoyed trading with the main currency strength and weaknesses each day. Let me share more details with you right now. 
 
Hi traders it’s Andrew Mitchem here from the Forex Trading Coach and today is Friday the 6th of June.An important part of my daily trading routine

I want to talk about currency strength and weakness. For me it’s something that’s quite important and it plays an important part of my daily trading routine and I like to share with you the reasons why because to me it’s quite a logical thing. If a particular currency is looking very strong and it’s looking strong against all other currencies and you then have another currency looking very weak and that’s looking particularly weak against all almost other currencies it seems logical to be trading in the direction of that pair when you put the two together. 
 
You take the strongest currency pair or your strongest currency and your weakest currency. Let’s say the strongest currency is the EUR and the weakest currency is the USD as an example put the two together it makes sense for today to trade as looking for buy trades on the EUR/USD. Now a few days time we might find that let’s say for example the same two you might find that next week the USD might be looking really strong and the EUR’s looking really weak. Again put the two together and it makes sense for that day and the upcoming day to be looking for short positions on the EUR/USD because your main dominant strength at that time or your main dominant direction for the EUR/USD to be falling so to me it makes logical sense. 
 
Well that’s fine but how do we use it and what advantages does it give us. Well  to me it helps keep me on the right side of the likely direction for that upcoming day so I go back to the example again let’s say the EUR is looking strong the USD is looking weak. For today I’m looking for predominantly buy-trades only on the EUR/USD and again what that does for me well it keeps me on the right side of course where I’m assuming or I’m looking for that currency to go. But what it also does is it helps me with confidence it helps me with not taking short positions on that pair for the day. Let’s say that the EUR/USD is going up really nicely and I haven’t taken any trades. I’ve either missed them or haven’t seen any it’s going up nicely but then it pulls back. Now a lot of people might be taking sell positions on that EUR/USD but I prefer to leave those setups. I might see a really good sell setup but because my main dominant strength for that day is for buy-trades I’m ignoring the sell setup. I’m letting the sell position or the retracement the sell off happen and I’m much preferring to then wait for bullish candles and buy setups in order to jump in as at a lower price at a better price and then ride the EUR/USD backup again after it had its retracement because don’t forget no currency just does that nothing goes up in a straight line or 45 degree angle line. 
 
Everything moves up and down. It moves up it pulls back and moves up and it has a bigger pull back sometimes but all together still moving up but it may move up and then retrace many, many times within that overall uptrend. The other scenario is let’s say I’m looking for buy trades on the EUR/USD and I don’t see any and the EUR/USD just sells, sells, sells just keeps falling day. What does it mean for me? Well most importantly it means I probably haven’t ended any buy-trades because I haven’t seen any.]]>503falsefullhttps://www.spreaker.com/episode/trade-forex-and-forget-savings-in-the-bank--12239822Trade Forex and Forget Savings in the Bank
In this video:
00:25   What you can potentially make from the Forex market
03:00   Why news trading is probably not a great thing to do
05:10   My e-book is available on Kindle
In today's video and podcast I want to talk about why you probably should not have a savings account with your bank, in comparison with trading Forex.  So let me share more details and explain exactly what I mean right now.  
Hi, traders, this is Andrew Mitchem here, today is Friday, the 30th of May and I want to talk about bank savings rates as a comparison with what you can potentially make from the Forex market.  
A 6.5% gain for the week
Look, I've had another really good week, I'm up 6.5 % on my accounts so far for this week with still one more day to go for the rest of the week and some trades open behind me here looking really good.  I shared all of those trades with my clients last night on our live 2.5 hour trading room webinar, and during that session I highlighted the fact of why for a lot of people, you probably shouldn't have savings at a bank because the interest rates around the world are just so pathetically low right now, in terms of for savers.  
I highlighted a British website that I found, and I found that the highest one-year rate on savings accounts was 1.71% for the whole year.  I also highlighted a US website that I found – the very highest that I could find just searching yesterday was 0.95% return paid in one year in the US, so it's absolutely awful.  
Of course it's great if you're borrowing money, that's absolutely fine, but as traders we're looking at investing and returns of what we can make on our investments.   So you look at those figures and my 6.5% for one week with a very, very low risk amount on each trade.  It just shows you the benefits of Forex trading once you understand it and once you've mastered it and consistently trade well.  
Now, of course 6.5% is not what I do every week, but it shows what can be achieved when you have a good week.   And as I mentioned, I discussed that with my clients last week, last night on the webinar.  
So for the week I've had on my account that I trade, the daily charts, the weekly charts, the one hour charts, and I also took a 15-minute chart on the webinar live in front of clients.  I am up 3.7% on that account, on another account that I trade only four hour charts, I'm up 2.8% for the week, and as I've mentioned I've still got trades open here behind me.  
So it's 6.5% return in the first four days of the week, which is not a bad return, especially when you compare it to those awful interest rates that you can get with your savings in one year.  
Why I don't Trade the News
 The other thing I want to talk about and again I discussed it with my clients on our webinar yesterday, was, in my opinion, why news trading is probably not a great thing to do.  And it's why I suggest that people trade what they see on their charts and not what they think.   
I'll give you two examples of what happened yesterday in the news, and how they affected the charts.   Now yesterday out of Australia, there was a high-impact news announcement – you can see it on Forex Factory or whatever calendar you use – and it was called "Private Capital Expenditure."  And it came out at a -4.2% and the expected was -1.6%.  So it came out two and half times worse than the expected figure.  
And all that happened yesterday is the AUD went up and up and up.  It went really strong.  And even today, into Friday, I'm looking for buy positions on the AUD.  So the news was two and a half times worse than expected and it was the only high-impact ...]]>http://theforextradingcoach.com/?p=4183Sun, 01 Jun 2014 09:58:36 +0000Andrew MitchemPodcast: Trade Forex and Forget Savings in the Bank In this video: 00:25   What you can potentially make from the Forex market 03:00   Why news trading is probably not a great thing to do 05:10   My e-book is available on Kindle In today's video and...Trade Forex and Forget Savings in the Bank
In this video:
00:25   What you can potentially make from the Forex market
03:00   Why news trading is probably not a great thing to do
05:10   My e-book is available on Kindle
In today's video and podcast I want to talk about why you probably should not have a savings account with your bank, in comparison with trading Forex.  So let me share more details and explain exactly what I mean right now.  
Hi, traders, this is Andrew Mitchem here, today is Friday, the 30th of May and I want to talk about bank savings rates as a comparison with what you can potentially make from the Forex market.  
A 6.5% gain for the week
Look, I've had another really good week, I'm up 6.5 % on my accounts so far for this week with still one more day to go for the rest of the week and some trades open behind me here looking really good.  I shared all of those trades with my clients last night on our live 2.5 hour trading room webinar, and during that session I highlighted the fact of why for a lot of people, you probably shouldn't have savings at a bank because the interest rates around the world are just so pathetically low right now, in terms of for savers.  
I highlighted a British website that I found, and I found that the highest one-year rate on savings accounts was 1.71% for the whole year.  I also highlighted a US website that I found – the very highest that I could find just searching yesterday was 0.95% return paid in one year in the US, so it's absolutely awful.  
Of course it's great if you're borrowing money, that's absolutely fine, but as traders we're looking at investing and returns of what we can make on our investments.   So you look at those figures and my 6.5% for one week with a very, very low risk amount on each trade.  It just shows you the benefits of Forex trading once you understand it and once you've mastered it and consistently trade well.  
Now, of course 6.5% is not what I do every week, but it shows what can be achieved when you have a good week.   And as I mentioned, I discussed that with my clients last week, last night on the webinar.  
So for the week I've had on my account that I trade, the daily charts, the weekly charts, the one hour charts, and I also took a 15-minute chart on the webinar live in front of clients.  I am up 3.7% on that account, on another account that I trade only four hour charts, I'm up 2.8% for the week, and as I've mentioned I've still got trades open here behind me.  
So it's 6.5% return in the first four days of the week, which is not a bad return, especially when you compare it to those awful interest rates that you can get with your savings in one year.  
Why I don't Trade the News
 The other thing I want to talk about and again I discussed it with my clients on our webinar yesterday, was, in my opinion, why news trading is probably not a great thing to do.  And it's why I suggest that people trade what they see on their charts and not what they think.   
I'll give you two examples of what happened yesterday in the news, and how they affected the charts.   Now yesterday out of Australia, there was a high-impact news announcement – you can see it on Forex Factory or whatever calendar you use – and it was called "Private Capital Expenditure."  And it came out at a -4.2% and the expected was -1.6%.  So it came out two and half times worse than the expected figure.  
And all that happened yesterday is the AUD went up and up and up.  It went really strong.  And even today, into Friday, I'm looking for buy positions on the AUD.  So the news was two and a half times worse than expected and it was the only high-impact ...]]>351falsefullhttps://www.spreaker.com/episode/the-importance-of-high-reward-to-risk-trading-and-how-it-can-make-such-a-huge-difference-to-your-overall-trading-performance--12239823In this video:
00:36   A massive difference to overall trading performance
03:04   Seventeen trades all together that have closed this week
05:06   “From Dairy Farmer To Forex Trader” eBook available on Amazon
The Importance of High Reward to Risk Trading and How it can make such a Huge Difference to Your Overall Trading Performance
Hi traders it’s Andrew Mitchem here from the Forex Trading Coach and in today’s video and podcast I want to talk about the importance of high reward to risk trading and how it can make such a huge difference to your overall trading performance. Let me share that and more with you right now.
Hi today it’s Friday the 23rd of May and I’m Andrew Mitchem from the Forex Trading Coach and I want to share with you the importance of high reward to risk trading because it’s something that makes such a massive difference to your overall trading performance and I’ve just made a note here of the trades that I’ve taken myself this week and they will just really emphasize the importance of high reward to risk trades.
I’ll start with the weekly trades. I’ve had four trades close this week on my charts based on the weekly charts. They weren’t all taken this week, but they’ve closed this week. Four trades have closed.  Two of them have made profit and two have lost. So, I've only had a fifty percent win right there. A lot of people get caught up on strike rate and win rate and “Andrew do you have a ninety percent win rate?” No, I don’t. But it doesn’t matter because the reward to risk is high.
Let me share with you the returns. Those two trades that both hit full profit averaged a 3.2 to 1 reward to risk. In other words, if I was risking let’s say a hundred dollars if the trade lost. On the profitable trades they average $320 so it’s a 3.2 rewards to risk ratio. The two that made and the two that lost, at half of one percent risk each that was a 2.2 percent gain on my account from just those four trades. Don’t forget that fifty percent of the trades I took on the weekly charts lost. But, I still made 2.2 percent gain with only a half percent risk each due to the high reward to risk of those trades.
On to the daily time frame charts. I’ve had five trades close this week. Three of them have been profitable and two have lost. Again, an average for the profitable trades of 2.1 reward to risk. Over the five trades that has given me a 2.15 percent return again on those daily chart trades. Again, two have lost out of the five, so not a great win rate but still a very good return. 
Lastly, the four hour chart trades. I’ve had five profitable trades and three losing trades. Those trades have averaged a 1.8 to 1 return to risk on those trades which you have five trades at 1.8 and take away three losing trades. That’s given me a three percent return on my account. So, add that all up together and I’ve had seventeen trades all together that have closed this week. Ten of them have been profitable and seven of them have lost. And again it’s not a very high win rate but it’s still ok, but it’s not a massive win rate. Yet, I’ve made 7.35 percent return on my account this week and I’ve still got today, Friday, to go of which I’ve still got several trades behind me here that are looking really good.  So, 7.35% return for a half percent risk per trade.
I have no idea how many pips I’ve made or lost this week because it doesn’t matter. And so many people again get caught up on the number of pips they are making. It really has no relevance at all to your trading performance. The important thing is how much you are risking on each trade and how much you’re making overall.  The great thing is with those trades (ten winning trades, seven losing trades) is that ratio can be swapped around the other way and I could h...]]>http://theforextradingcoach.com/?p=4174Sun, 25 May 2014 20:04:43 +0000Andrew MitchemPodcast: In this video: 00:36   A massive difference to overall trading performance 03:04   Seventeen trades all together that have closed this week 05:06   “From Dairy Farmer To Forex Trader” eBook available on Amazon The Importance of High Reward to...In this video:
00:36   A massive difference to overall trading performance
03:04   Seventeen trades all together that have closed this week
05:06   “From Dairy Farmer To Forex Trader” eBook available on Amazon
The Importance of High Reward to Risk Trading and How it can make such a Huge Difference to Your Overall Trading Performance
Hi traders it’s Andrew Mitchem here from the Forex Trading Coach and in today’s video and podcast I want to talk about the importance of high reward to risk trading and how it can make such a huge difference to your overall trading performance. Let me share that and more with you right now.
Hi today it’s Friday the 23rd of May and I’m Andrew Mitchem from the Forex Trading Coach and I want to share with you the importance of high reward to risk trading because it’s something that makes such a massive difference to your overall trading performance and I’ve just made a note here of the trades that I’ve taken myself this week and they will just really emphasize the importance of high reward to risk trades.
I’ll start with the weekly trades. I’ve had four trades close this week on my charts based on the weekly charts. They weren’t all taken this week, but they’ve closed this week. Four trades have closed.  Two of them have made profit and two have lost. So, I've only had a fifty percent win right there. A lot of people get caught up on strike rate and win rate and “Andrew do you have a ninety percent win rate?” No, I don’t. But it doesn’t matter because the reward to risk is high.
Let me share with you the returns. Those two trades that both hit full profit averaged a 3.2 to 1 reward to risk. In other words, if I was risking let’s say a hundred dollars if the trade lost. On the profitable trades they average $320 so it’s a 3.2 rewards to risk ratio. The two that made and the two that lost, at half of one percent risk each that was a 2.2 percent gain on my account from just those four trades. Don’t forget that fifty percent of the trades I took on the weekly charts lost. But, I still made 2.2 percent gain with only a half percent risk each due to the high reward to risk of those trades.
On to the daily time frame charts. I’ve had five trades close this week. Three of them have been profitable and two have lost. Again, an average for the profitable trades of 2.1 reward to risk. Over the five trades that has given me a 2.15 percent return again on those daily chart trades. Again, two have lost out of the five, so not a great win rate but still a very good return. 
Lastly, the four hour chart trades. I’ve had five profitable trades and three losing trades. Those trades have averaged a 1.8 to 1 return to risk on those trades which you have five trades at 1.8 and take away three losing trades. That’s given me a three percent return on my account. So, add that all up together and I’ve had seventeen trades all together that have closed this week. Ten of them have been profitable and seven of them have lost. And again it’s not a very high win rate but it’s still ok, but it’s not a massive win rate. Yet, I’ve made 7.35 percent return on my account this week and I’ve still got today, Friday, to go of which I’ve still got several trades behind me here that are looking really good.  So, 7.35% return for a half percent risk per trade.
I have no idea how many pips I’ve made or lost this week because it doesn’t matter. And so many people again get caught up on the number of pips they are making. It really has no relevance at all to your trading performance. The important thing is how much you are risking on each trade and how much you’re making overall.  The great thing is with those trades (ten winning trades, seven losing trades) is that ratio can be swapped around the other way and I could h...]]>362falsefullhttps://www.spreaker.com/episode/why-i-trade-forex-using-limit-orders--12239828
In this video:
00:24    Using limit orders when trading Forex
04:15     Held a 2 ½ hour live trading room webinar with a number of good trades
05:12     E-Book has been published on Amazon
 
In this video I want to talk about limit orders and I want to tell you why I like trading using limit orders. Let me share more details with you right now.
Why I Trade Forex Using Limit Orders
Hi traders, it’s Andrew Mitchem here the Forex Trading Coach and today is Friday the 16th of May and I want to talk about limit orders in this webinar and podcast. You see, I use limit orders on all time frames from monthly charts, weekly charts, daily charts and four hourly charts, and I love using them. It’s probably something that a lot of people don’t use.  You see, most people tend to trade at the market because they feel they have to watch the charts all day long and it’s not really the case.  You see, when you have a strategy that you know and you can see and you trust you see the trades developed and you only trade on the close of a chart or a candle then it makes really easy to use limit orders. So I have a pre-defined order in place on my platform to buy below the current price or to sell above the current price depending on which way the trade is moving.
So let’s say the price is moving up we get a pull pack and then I see a bar to go long again. Rather than entering at the market I place a limit order a buy limit to buy below the current price, so it’s doing a lot of things. First of all it means I should don’t need to be there at the market if the price retraces back to the level I’m looking at the trade to fill at. I don’t need to be there I can just place my limit order in my position size, my stop loss, my profit target, expiry date all in place and just walk away. 
So let’s say the trade retraces and it gets filled. What that’s doing is it’s getting me into the market in the direction that I’m looking for the trade to move, but at a far better price than if I entered at the beginning of the new candle, especially when you’re talking four hour charts and above. So I’m getting in at better price. What that also does is it dramatically increases the return on that trade in terms of the reward to risk ratio of that trade. It means that let’s say on a four hour charts I might be getting a 2 or 2 ½  to 1 reward to risk out of the trade rather than maybe a 1 to 1 ½, if I enter at the market because if I still have my same stop loss and instead of getting in here at the market,  I’m getting in down here while my stop loss still down here so I’ve only got this amount of stop loss rather than the full amount if I enter at the market, so what that means is the return from that trade is dramatically increased by filling at a better price. It also takes the emotion out of trading. You know I’m not sat there on the mouse going on should I or shouldn’t I, maybe, don’t know, what do I do or go for it. I don’t do that.  You see, I put the limit order in and I walk away.
I also have my order set automatically by the platform to expire after one bar. So if I’m trading on the four hourly charts and the trade does not fill or does not retrace back to my buy limit order it just takes off in the ideal direction and doesn’t get me in the trade. Of course I missed out in the trade but I have the software set up automatically to delete the trade as a pending order after one bar. So if I’m trading in a weekly chart after just under a week so I have my set up that four days but pretty much the week it expires if the trade does not get filled; on the daily chart if the trade does not get filled within one day so within 24 hours it automatically gets deleted. So it’s just a really great way of trading especially on the high time frame charts.]]>http://theforextradingcoach.com/?p=4160Sun, 18 May 2014 20:08:35 +0000Andrew MitchemPodcast: In this video: 00:24    Using limit orders when trading Forex 04:15     Held a 2 ½ hour live trading room webinar with a number of good trades 05:12     E-Book has been published on Amazon   In this video I want to talk about limit...
In this video:
00:24    Using limit orders when trading Forex
04:15     Held a 2 ½ hour live trading room webinar with a number of good trades
05:12     E-Book has been published on Amazon
 
In this video I want to talk about limit orders and I want to tell you why I like trading using limit orders. Let me share more details with you right now.
Why I Trade Forex Using Limit Orders
Hi traders, it’s Andrew Mitchem here the Forex Trading Coach and today is Friday the 16th of May and I want to talk about limit orders in this webinar and podcast. You see, I use limit orders on all time frames from monthly charts, weekly charts, daily charts and four hourly charts, and I love using them. It’s probably something that a lot of people don’t use.  You see, most people tend to trade at the market because they feel they have to watch the charts all day long and it’s not really the case.  You see, when you have a strategy that you know and you can see and you trust you see the trades developed and you only trade on the close of a chart or a candle then it makes really easy to use limit orders. So I have a pre-defined order in place on my platform to buy below the current price or to sell above the current price depending on which way the trade is moving.
So let’s say the price is moving up we get a pull pack and then I see a bar to go long again. Rather than entering at the market I place a limit order a buy limit to buy below the current price, so it’s doing a lot of things. First of all it means I should don’t need to be there at the market if the price retraces back to the level I’m looking at the trade to fill at. I don’t need to be there I can just place my limit order in my position size, my stop loss, my profit target, expiry date all in place and just walk away. 
So let’s say the trade retraces and it gets filled. What that’s doing is it’s getting me into the market in the direction that I’m looking for the trade to move, but at a far better price than if I entered at the beginning of the new candle, especially when you’re talking four hour charts and above. So I’m getting in at better price. What that also does is it dramatically increases the return on that trade in terms of the reward to risk ratio of that trade. It means that let’s say on a four hour charts I might be getting a 2 or 2 ½  to 1 reward to risk out of the trade rather than maybe a 1 to 1 ½, if I enter at the market because if I still have my same stop loss and instead of getting in here at the market,  I’m getting in down here while my stop loss still down here so I’ve only got this amount of stop loss rather than the full amount if I enter at the market, so what that means is the return from that trade is dramatically increased by filling at a better price. It also takes the emotion out of trading. You know I’m not sat there on the mouse going on should I or shouldn’t I, maybe, don’t know, what do I do or go for it. I don’t do that.  You see, I put the limit order in and I walk away.
I also have my order set automatically by the platform to expire after one bar. So if I’m trading on the four hourly charts and the trade does not fill or does not retrace back to my buy limit order it just takes off in the ideal direction and doesn’t get me in the trade. Of course I missed out in the trade but I have the software set up automatically to delete the trade as a pending order after one bar. So if I’m trading in a weekly chart after just under a week so I have my set up that four days but pretty much the week it expires if the trade does not get filled; on the daily chart if the trade does not get filled within one day so within 24 hours it automatically gets deleted. So it’s just a really great way of trading especially on the high time frame charts.]]>383falsefullhttps://www.spreaker.com/episode/learning-to-trade-forex-is-no-different-from-learning-how-to-fly-a-helicopter--12239829
Discover how learning to trade Forex is no different from learning how to fly a helicopter.
In this video:
00:21     Similarities between learning how to trade Forex and to fly a helicopter
04:18     The importance of enjoyment in what you do
06:24     Most pairs have moved 100-150 pips
Did you know the learning to trade Forex is no different from learning how to fly a helicopter? Let me share more with you right now. 
Hello it’s Andrew Mitchem here the Forex Trading Coach and today is Friday the 9th of May. That’s right I want to give you an analogy between the similarities between learning how to trade Forex and learning how to fly a helicopter. Around 10 years ago I started learning to trade Forex, and it took a number of years and right now I’m about a third of the way through my private pilot license learning how to fly a helicopter. I want to go through and to share some of the experiences of what I’m going through right now and how that can help you learn your trading which is something that I’m still doing but something that I started a long, long time ago. 
So learning to fly a helicopter, for me it’s a big dream that I’ve always wanted to do and at Christmas my wife got me a lesson to learn to fly and right now I’m sort of flying once or twice a week on the way to having a private pilot’s license.
Similarities between learning how to trade Forex and to fly a helicopter
So how can that help us? Well it’s a dream of mine so for many people learning how to trade Forex successfully and either traveling around the world with their laptop trading or trading from home with your family and your children around it’s a dream also and both of them can be achieved but like everything anything that is good, it takes a lot of hard work and dedication. Now I’m finding with a helicopter it takes a lot of my time, it takes a lot of dedication. There’s a huge amount of information to learn most of which I have no idea I would need. I’m opening myself to a whole new world of terminologies, of different experiences and there’s a lot more than I actually thought will be involved and again trading is no different. There’s a whole new world out there to learn when you want to become a Forex trader.
Now the other thing that’s similar is that it’s not only that takes a lot of dedication you put it best to find yourself a really good instructor or really good coach. I’m not just saying that because I coach Forex, you can go to anybody who you choose to. I’m just one of a number of people who would be good to learn from but with my helicopter license I’ve gone to the best instructor that I can find because at the end of the day I’m up there flying around in the sky and I want to learn the best way that I can from the best persons so learning to find to Forex Coach and to trade properly again is no different.
The importance of enjoyment in what you do
Experiences; well I go from absolute exhilaration and joy through to fear, scared, terror sometimes, very nervous sometimes, very hesitant sometimes and then again back to being just the best thing I can do and huge smiles from my face. And you go through different emotions and I have a very good days of flying and some not so good days and exactly the same with trading you go through that you will suddenly makes some money and you just have that exhilaration and that joy you would then suddenly becomes frustrated, you will become disappointed, you will become frustrated again, you make some more money you will then go backwards again and you’re going around and around in a never ending circle or so it seems. 
However when you look back on it it’s amazing how much you do actually grow and develop and it’s also interesting that my instructor is slowly but surely adding layer per layer per layer of skills to my ability and I’m learning and putting little...]]>http://theforextradingcoach.com/?p=4139Sun, 11 May 2014 19:56:07 +0000Andrew MitchemPodcast: Discover how learning to trade Forex is no different from learning how to fly a helicopter. In this video: 00:21     Similarities between learning how to trade Forex and to fly a helicopter 04:18     The importance of enjoyment in what you...
Discover how learning to trade Forex is no different from learning how to fly a helicopter.
In this video:
00:21     Similarities between learning how to trade Forex and to fly a helicopter
04:18     The importance of enjoyment in what you do
06:24     Most pairs have moved 100-150 pips
Did you know the learning to trade Forex is no different from learning how to fly a helicopter? Let me share more with you right now. 
Hello it’s Andrew Mitchem here the Forex Trading Coach and today is Friday the 9th of May. That’s right I want to give you an analogy between the similarities between learning how to trade Forex and learning how to fly a helicopter. Around 10 years ago I started learning to trade Forex, and it took a number of years and right now I’m about a third of the way through my private pilot license learning how to fly a helicopter. I want to go through and to share some of the experiences of what I’m going through right now and how that can help you learn your trading which is something that I’m still doing but something that I started a long, long time ago. 
So learning to fly a helicopter, for me it’s a big dream that I’ve always wanted to do and at Christmas my wife got me a lesson to learn to fly and right now I’m sort of flying once or twice a week on the way to having a private pilot’s license.
Similarities between learning how to trade Forex and to fly a helicopter
So how can that help us? Well it’s a dream of mine so for many people learning how to trade Forex successfully and either traveling around the world with their laptop trading or trading from home with your family and your children around it’s a dream also and both of them can be achieved but like everything anything that is good, it takes a lot of hard work and dedication. Now I’m finding with a helicopter it takes a lot of my time, it takes a lot of dedication. There’s a huge amount of information to learn most of which I have no idea I would need. I’m opening myself to a whole new world of terminologies, of different experiences and there’s a lot more than I actually thought will be involved and again trading is no different. There’s a whole new world out there to learn when you want to become a Forex trader.
Now the other thing that’s similar is that it’s not only that takes a lot of dedication you put it best to find yourself a really good instructor or really good coach. I’m not just saying that because I coach Forex, you can go to anybody who you choose to. I’m just one of a number of people who would be good to learn from but with my helicopter license I’ve gone to the best instructor that I can find because at the end of the day I’m up there flying around in the sky and I want to learn the best way that I can from the best persons so learning to find to Forex Coach and to trade properly again is no different.
The importance of enjoyment in what you do
Experiences; well I go from absolute exhilaration and joy through to fear, scared, terror sometimes, very nervous sometimes, very hesitant sometimes and then again back to being just the best thing I can do and huge smiles from my face. And you go through different emotions and I have a very good days of flying and some not so good days and exactly the same with trading you go through that you will suddenly makes some money and you just have that exhilaration and that joy you would then suddenly becomes frustrated, you will become disappointed, you will become frustrated again, you make some more money you will then go backwards again and you’re going around and around in a never ending circle or so it seems. 
However when you look back on it it’s amazing how much you do actually grow and develop and it’s also interesting that my instructor is slowly but surely adding layer per layer per layer of skills to my ability and I’m learning and putting little...]]>433falsefullhttps://www.spreaker.com/episode/don-t-break-your-own-money-management-rules--12239830
In this video:
01:26   A good money management rule
03:46   Taking your time with your trading
07:43   5th birthday offer live between the 5th and 9th of May
Don’t break your own money management rules
Don’t break your own money management rules, because if you do, there are generally some fairly big consequences. Let me discuss that and lots more with you right now.
Hi Forex Traders. It’s Andrew Mitchem here, the Forex Trading Coach, and welcome to my latest weekly video and podcast. Today is Friday the 2nd of May, 2014, and it’s a non-farm payroll or non-farm employment day today. So probably not expecting a great deal of price action right now through the Asian session. Possibly not much in the European session until we get into the US session and that news release. On that subject also just to let you know that the market right now is very, very quiet. It’s not that easy to trade actually and the reports that I’ve read is that a lot of pairs, for instance the GBP/JPY, which usually moves a lot. A lot of pairs are at the lowest volume and the lowest daily range for seven years. So if you’re finding it tough right now, just hang in there and don’t worry too much about it. A lot of it could be due to the market conditions. But another thing it could be is to do with the topic of this video and podcast. 
Don’t break your money management rules because if you do, the consequences are usually, they usually bite you actually so they usually get you in the end. That’s really important because I always have a rule for my own trading and I suggest for my clients, look at trading with this same rule. No more than half a percent or 0.5% of your account on any one trade. 
A  problem I find with a lot of people is they seem to think well because my account maybe quite small it means I can break that rule and risk a lot more. If you’ve got an account, let’s say $1,000 for example. That means you’re risking only $5 per trade; it’s still half of 1%. A lot of people think well that’s just silly. I can’t make money on that or look it’s only $5 therefore I’m going to go risk $50. I’m quite happy to risk $50 on this one trade. The problem being is that it doesn’t teach you discipline, it doesn’t teach you about good accurate money management. You see, if you’re risking $50 on a thousand dollars account, instead of 0.5% you’re actually risking 5% on that one trade, which is far too much. 
It’s important to get into a routine and a discipline and treat your account regardless of its size, as if it were a huge account. Treat it as a professional trader would. A lot of people don’t realize that the way and the reason why people end up being professional traders and fund managers and things like that, and remain in the markets for over ten years like I have, is because I don’t break those rules and I do treat my trading seriously and I do treat it as a professional. So if your account is a thousand dollars, risk $5. If your account let’s say $10,000, risk $50 per trade. If your account is $100,000 risk $500 per trade. It’s the same risk and what that does is it gets you into the good discipline and good understanding of money management and risk. So just want to put that point across there. Don’t say, “I’ve just got a small account and I can afford to lose some money. I’m going to risk $50 or $500 if my account is only a thousand dollars.” It’s not the way for longevity within the Forex market. It gets you into a very bad state of mind also. So take that on board and absorb it because it’s a very valuable piece of information that can really help you.
Take your time
The other thing that I want to talk about is taking your time with your trading. Take your time on a day to day basis but also an advice I give to a lot of my clients is take your time going through the course.]]>http://theforextradingcoach.com/?p=4126Sun, 04 May 2014 20:02:25 +0000Andrew MitchemPodcast: In this video: 01:26   A good money management rule 03:46   Taking your time with your trading 07:43   5th birthday offer live between the 5th and 9th of May Don’t break your own money management rules Don’t break your own money management...
In this video:
01:26   A good money management rule
03:46   Taking your time with your trading
07:43   5th birthday offer live between the 5th and 9th of May
Don’t break your own money management rules
Don’t break your own money management rules, because if you do, there are generally some fairly big consequences. Let me discuss that and lots more with you right now.
Hi Forex Traders. It’s Andrew Mitchem here, the Forex Trading Coach, and welcome to my latest weekly video and podcast. Today is Friday the 2nd of May, 2014, and it’s a non-farm payroll or non-farm employment day today. So probably not expecting a great deal of price action right now through the Asian session. Possibly not much in the European session until we get into the US session and that news release. On that subject also just to let you know that the market right now is very, very quiet. It’s not that easy to trade actually and the reports that I’ve read is that a lot of pairs, for instance the GBP/JPY, which usually moves a lot. A lot of pairs are at the lowest volume and the lowest daily range for seven years. So if you’re finding it tough right now, just hang in there and don’t worry too much about it. A lot of it could be due to the market conditions. But another thing it could be is to do with the topic of this video and podcast. 
Don’t break your money management rules because if you do, the consequences are usually, they usually bite you actually so they usually get you in the end. That’s really important because I always have a rule for my own trading and I suggest for my clients, look at trading with this same rule. No more than half a percent or 0.5% of your account on any one trade. 
A  problem I find with a lot of people is they seem to think well because my account maybe quite small it means I can break that rule and risk a lot more. If you’ve got an account, let’s say $1,000 for example. That means you’re risking only $5 per trade; it’s still half of 1%. A lot of people think well that’s just silly. I can’t make money on that or look it’s only $5 therefore I’m going to go risk $50. I’m quite happy to risk $50 on this one trade. The problem being is that it doesn’t teach you discipline, it doesn’t teach you about good accurate money management. You see, if you’re risking $50 on a thousand dollars account, instead of 0.5% you’re actually risking 5% on that one trade, which is far too much. 
It’s important to get into a routine and a discipline and treat your account regardless of its size, as if it were a huge account. Treat it as a professional trader would. A lot of people don’t realize that the way and the reason why people end up being professional traders and fund managers and things like that, and remain in the markets for over ten years like I have, is because I don’t break those rules and I do treat my trading seriously and I do treat it as a professional. So if your account is a thousand dollars, risk $5. If your account let’s say $10,000, risk $50 per trade. If your account is $100,000 risk $500 per trade. It’s the same risk and what that does is it gets you into the good discipline and good understanding of money management and risk. So just want to put that point across there. Don’t say, “I’ve just got a small account and I can afford to lose some money. I’m going to risk $50 or $500 if my account is only a thousand dollars.” It’s not the way for longevity within the Forex market. It gets you into a very bad state of mind also. So take that on board and absorb it because it’s a very valuable piece of information that can really help you.
Take your time
The other thing that I want to talk about is taking your time with your trading. Take your time on a day to day basis but also an advice I give to a lot of my clients is take your time going through the course.]]>572falsefullhttps://www.spreaker.com/episode/why-it-s-important-to-trade-multiple-timeframe-currency-charts--12239835
Why It's Important To Trade Multiple Timeframe Currency Charts
In this video I want to talk about the importance of trading over multiple timeframe currency charts. Let me explain more details about that right now.
Hi, it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 25th of April. And I want to talk about the importance of trading multiple timeframe charts because I have an example of some trades that I have taken this week that would just really blow your mind in some ways because it just shows what can be done when you trade different charts.


5th Birthday Promotion – Discounted Course – 5th-9th May 2014

The other thing I want to talk about just quickly first is a 5th birthday promotion between the 5th and 9th of May that I’m holding. Now the Forex Trading Coach is almost 5 years old. In that time, I’ve helped traders in 48 countries around the world, helped them with their trading and most of them have gone from being either break even or losing traders to being really successful Forex Traders. If you’d like more information about that, I’m holding a 5-day sale. A genuine 5-day sale to promote the 5th birthday of the Forex Trading Coach with a price offer that I’ve never had the course such a low offer price ever before and probably will never do again. If you’d like more details about that, either contact me andrew@theforextradingcoach.com or look out for the link that I’ll be placing on my website next week.

Multiple Timeframe Charts

So back to the charts and the trading; multiple timeframe charts, why do I trade them? Well, I can be a prime example. On Wednesday of this week, I took four trades and I suggested the four trades to my clients based off the daily charts. Now three of them were involving the AUD and all four trades lost. It doesn’t happen very often but from time to time these things do happen because trading is about probabilities, it’s not a 100% certainty. And so the Australian CPI news came out way lower than expected and completely against the forecast by the fundamentals and completely against where all the daily charts and the technicals were showing the Aussie was likely to be going. The Aussie was looking very strong at that stage and I was definitely looking for buying the AUSD/USD and there were three trades involving the Aussie Dollar but anyway all of them lost taken out over that news announcement.
Now with controlled risk, it means that it’s not the end of the day. Sure it’s not great but a 0.5% risk per trade. That was a 2% loss for me which is for me that’s plenty but it’s still controlled so it means I’m not losing my account and I can still get up and trade later on. However, the important point is this on the same day on Wednesday; I also took four trades on the four hour charts. Now one of those also lost and three of them made profit. So you take the 2% that I lost on the daily charts and 0.5% that I’ve lost on the one losing trade on the four hour charts and now all of a sudden I’m down 2.5%. Yet the three profitable trades on the four hour charts made me 2.9%, 2.9% and I ended up making an overall profit of 0.4% for the day which of course is a good result. So it just goes to show that I have 5 losing trades and I have 3 winning trades. By trading that multiple timeframes I didn’t trade anything else, I didn’t take any trades on the one hour chart or anything shorter I was pretty busy on Wednesday so I only traded and look at the daily charts and four hour charts, that was it. But I still ended up with a profit of 0.4%. Will do that every day that’s 2% for the week, do that every day of the month that’s 8% for the month. You can see how even with losing trades you can still end up having a really profitable trade in day.
Why You Need To Control Your Risk
 ]]>http://theforextradingcoach.com/?p=4119Sun, 27 Apr 2014 19:34:26 +0000Andrew MitchemPodcast: Why It's Important To Trade Multiple Timeframe Currency Charts In this video I want to talk about the importance of trading over multiple timeframe currency charts. Let me explain more details about that right now. Hi, it’s Andrew Mitchem...
Why It's Important To Trade Multiple Timeframe Currency Charts
In this video I want to talk about the importance of trading over multiple timeframe currency charts. Let me explain more details about that right now.
Hi, it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 25th of April. And I want to talk about the importance of trading multiple timeframe charts because I have an example of some trades that I have taken this week that would just really blow your mind in some ways because it just shows what can be done when you trade different charts.


5th Birthday Promotion – Discounted Course – 5th-9th May 2014

The other thing I want to talk about just quickly first is a 5th birthday promotion between the 5th and 9th of May that I’m holding. Now the Forex Trading Coach is almost 5 years old. In that time, I’ve helped traders in 48 countries around the world, helped them with their trading and most of them have gone from being either break even or losing traders to being really successful Forex Traders. If you’d like more information about that, I’m holding a 5-day sale. A genuine 5-day sale to promote the 5th birthday of the Forex Trading Coach with a price offer that I’ve never had the course such a low offer price ever before and probably will never do again. If you’d like more details about that, either contact me andrew@theforextradingcoach.com or look out for the link that I’ll be placing on my website next week.

Multiple Timeframe Charts

So back to the charts and the trading; multiple timeframe charts, why do I trade them? Well, I can be a prime example. On Wednesday of this week, I took four trades and I suggested the four trades to my clients based off the daily charts. Now three of them were involving the AUD and all four trades lost. It doesn’t happen very often but from time to time these things do happen because trading is about probabilities, it’s not a 100% certainty. And so the Australian CPI news came out way lower than expected and completely against the forecast by the fundamentals and completely against where all the daily charts and the technicals were showing the Aussie was likely to be going. The Aussie was looking very strong at that stage and I was definitely looking for buying the AUSD/USD and there were three trades involving the Aussie Dollar but anyway all of them lost taken out over that news announcement.
Now with controlled risk, it means that it’s not the end of the day. Sure it’s not great but a 0.5% risk per trade. That was a 2% loss for me which is for me that’s plenty but it’s still controlled so it means I’m not losing my account and I can still get up and trade later on. However, the important point is this on the same day on Wednesday; I also took four trades on the four hour charts. Now one of those also lost and three of them made profit. So you take the 2% that I lost on the daily charts and 0.5% that I’ve lost on the one losing trade on the four hour charts and now all of a sudden I’m down 2.5%. Yet the three profitable trades on the four hour charts made me 2.9%, 2.9% and I ended up making an overall profit of 0.4% for the day which of course is a good result. So it just goes to show that I have 5 losing trades and I have 3 winning trades. By trading that multiple timeframes I didn’t trade anything else, I didn’t take any trades on the one hour chart or anything shorter I was pretty busy on Wednesday so I only traded and look at the daily charts and four hour charts, that was it. But I still ended up with a profit of 0.4%. Will do that every day that’s 2% for the week, do that every day of the month that’s 8% for the month. You can see how even with losing trades you can still end up having a really profitable trade in day.
Why You Need To Control Your Risk
 ]]>441falsefullhttps://www.spreaker.com/episode/some-of-the-biggest-forex-trading-mistakes-and-how-to-avoid-them--12239836
In this video:
00:31   Chapter 14 of my new eBook – The Top 10 Forex Trading Mistakes
02:44   Tips on trading a demo account
05:39   The four big movers for the week
In my new eBook, I talk about the Top Ten Trading Mistakes and I want to talk about some of those same mistakes in this podcast and video right now. Let me share more details with you.
The Top Forex Trading Mistakes
Hi it’s Andrew Mitchem here, the Forex Trading Coach. Today is Friday the 11th of April and my latest chapter, Chapter 14 from my new eBook “From Dairy Farmer to Forex Trader” has been an enormous hit . I’ve had some just amazing feedback from people. So people have really enjoyed the story but Chapter 14 is all about what I believe that the Top 10 Trading Mistakes and I’ve put those in the book because there are mistakes that I’ve made and I’ve learned from and throughout the last five years of being a Forex Coach as well. There are mistakes that I see people constantly making and so the aim as a Forex coach also is to help people overcome those mistakes. Not only of course to trade profitably but if you eliminate a lot of those mistakes and put a good strategy together with it then of course naturally you’re going to iron out those flaws from people’s trading. And so, I’ve mentioned quite a number of those things that you can change and mistakes that you can eliminate already in these videos and podcasts in the past. But I’ve got three more I’d like to talk about right now in this one.
The first one is to always treat your demo account as though it were a live account. That’s a really important point because you see brokers that give you the option to open up a $50,000, or a $100,000 or half a million dollar account. Whereas really how many people go and open up a $100,000 account for your very first live trading account and it doesn’t matter whether you’re a multi-millionaire, the likelihood is you’re not going to open your first live account with $100,000. And so, it’s a quite a deceptive way on behalf of the brokers really to get people lured into a full sense of security and see people not only treat a demo as a bit of a game, a bit of a gambling monopoly money but they also when they do strike it lucky they do tend to make a lot of money on demo and I did exactly the same myself. I was making thousands of dollars per day or tens of thousands of dollars per day at one stage on a demo but when I came to reality you know I was on a ten thousand dollar live account and I was making a few dollars or maybe sort of hundred dollars at the very most per trade. So it’s a bit of a knock as I suppose you could call it when you go live and you’re not going to be making that vast amount of money that you’ve been expecting to.

How To Trade A Demo Account
So the point is, if you think that you’re going to be opening your first live account whether ten thousand dollar account make sure that you open your demo account with $10,000 and trade it exactly the same way. Now of course, emotions aren’t there but you really need to do your best to make sure that your demo account is traded and you treat it the same way as if you were a live account and it just makes transition far easier.

Don't Expect To Make A Fortune on Day 1
The second point that I want to talk about is don’t expect your trading to be outstanding from day one, it’s not going to happen. It doesn’t matter how many courses you’ve taken even if it’s my course. You’re not going to make a lot of money from day one and I’m sorry that’s a bit blunt but it’s the reality because trading takes time and you can have the best system and the best strategy and the best coach but you still need time to develop that for yourself and to learn that for yo...]]>http://theforextradingcoach.com/?p=4104Sun, 13 Apr 2014 19:44:10 +0000Andrew MitchemPodcast: In this video: 00:31   Chapter 14 of my new eBook – The Top 10 Forex Trading Mistakes 02:44   Tips on trading a demo account 05:39   The four big movers for the week In my new eBook, I talk about the Top Ten Trading Mistakes and I want...
In this video:
00:31   Chapter 14 of my new eBook – The Top 10 Forex Trading Mistakes
02:44   Tips on trading a demo account
05:39   The four big movers for the week
In my new eBook, I talk about the Top Ten Trading Mistakes and I want to talk about some of those same mistakes in this podcast and video right now. Let me share more details with you.
The Top Forex Trading Mistakes
Hi it’s Andrew Mitchem here, the Forex Trading Coach. Today is Friday the 11th of April and my latest chapter, Chapter 14 from my new eBook “From Dairy Farmer to Forex Trader” has been an enormous hit . I’ve had some just amazing feedback from people. So people have really enjoyed the story but Chapter 14 is all about what I believe that the Top 10 Trading Mistakes and I’ve put those in the book because there are mistakes that I’ve made and I’ve learned from and throughout the last five years of being a Forex Coach as well. There are mistakes that I see people constantly making and so the aim as a Forex coach also is to help people overcome those mistakes. Not only of course to trade profitably but if you eliminate a lot of those mistakes and put a good strategy together with it then of course naturally you’re going to iron out those flaws from people’s trading. And so, I’ve mentioned quite a number of those things that you can change and mistakes that you can eliminate already in these videos and podcasts in the past. But I’ve got three more I’d like to talk about right now in this one.
The first one is to always treat your demo account as though it were a live account. That’s a really important point because you see brokers that give you the option to open up a $50,000, or a $100,000 or half a million dollar account. Whereas really how many people go and open up a $100,000 account for your very first live trading account and it doesn’t matter whether you’re a multi-millionaire, the likelihood is you’re not going to open your first live account with $100,000. And so, it’s a quite a deceptive way on behalf of the brokers really to get people lured into a full sense of security and see people not only treat a demo as a bit of a game, a bit of a gambling monopoly money but they also when they do strike it lucky they do tend to make a lot of money on demo and I did exactly the same myself. I was making thousands of dollars per day or tens of thousands of dollars per day at one stage on a demo but when I came to reality you know I was on a ten thousand dollar live account and I was making a few dollars or maybe sort of hundred dollars at the very most per trade. So it’s a bit of a knock as I suppose you could call it when you go live and you’re not going to be making that vast amount of money that you’ve been expecting to.

How To Trade A Demo Account
So the point is, if you think that you’re going to be opening your first live account whether ten thousand dollar account make sure that you open your demo account with $10,000 and trade it exactly the same way. Now of course, emotions aren’t there but you really need to do your best to make sure that your demo account is traded and you treat it the same way as if you were a live account and it just makes transition far easier.

Don't Expect To Make A Fortune on Day 1
The second point that I want to talk about is don’t expect your trading to be outstanding from day one, it’s not going to happen. It doesn’t matter how many courses you’ve taken even if it’s my course. You’re not going to make a lot of money from day one and I’m sorry that’s a bit blunt but it’s the reality because trading takes time and you can have the best system and the best strategy and the best coach but you still need time to develop that for yourself and to learn that for yo...]]>430falsefullhttps://www.spreaker.com/episode/don-t-confuse-a-trade-with-a-big-stop-loss-with-taking-a-big-risk--12239837
In this video:
00:40  Understanding the difference between a big stop loss and a big risk
03:34  Information and trade results from clients
06:46  High reward to risk trading using low risk per trade
It’s really important that you don’t risk taking a big stop loss on a trade and associate with taking a big risk on a trade– they’re two completely different subjects. I’m going to tell more about that right now.

The Difference between a big stop loss and a big risk
Hi, traders it’s Andrew Mitchem here the Forex Trading Coach today is Friday the 4th of April and it’s Non-Farm employment day today and more about that later on in the video and podcast.
But first of all that I want to talk about, the differences between taking a big stop loss on a trade and a big risk on a trade they’re two completely different topics and it’s really important as a trader that you understand the difference. When you place a trade and you place a stop loss at a safety level for a reason to protect the trade and that stop loss amount in pips can vary of course between different currency pairs, different setups that you’re taking, different chart setups and of course different timeframe charts that you’re taking. But just because you’re taking a larger stop loss in terms of the number of pips on a trade don’t associate that or get that mixed up with taking a big risk on a trade. You see, if for example you were to take a 50 pip stop for example on a trade and you placed it there because that’s the level needed to be at to protect the trade. Not 50 pips because it’s an easy number to calculate or it’s the same on every trade that’s not how you should trade but let’s take for example 50 pips as the trade that you’ve decided needs, that level needs, that level needs to be at stop loss.
However if you are looking on that trade at having a profit target of 150 pips and again it’s not because it’s just three times the risk or because a round number. Let’s assume on this trade that 150 pips is the perfect profit target placement that is giving you a 3 to 1 reward to risk trade and so you must not associate that 50 pips for being a too big a risk and it’s an email that I get or a subject that I get on emails that’s really often from non clients and people are just getting too confused with that.
Another example is that let’s say you had $1,000 account and you were taking a trade with a 10 pip stop loss most people would associate a 10 pip stop loss as a low risk trade where in fact it may be or may not be. Let’s say on your $1,000 account you’re taking two standard lots on that trade now on most currency pairs two standard lots equals roughly around $20 per pip if you get stop out of that trade that’s $200 gone. Now $200 out of a $1,000 account is a huge risk. So can you really risk 20% of your account with just one trade? No you can’t that’s the answer. But most people associate that trade but just a 10 pip stop loss that’s been a really low risk and so you can see that by using that example how a 10 pip stop loss for two standard lots equals too big a risk yet that’s only 10 pips so that’s a really important point there to make.

Amazing Clients Trading Results
The other thing that I want to quickly tell you about is the webinar that I held last night for my clients and I’ve got some printouts here on emails from clients that sent me information and trade results over the last couple of weeks since our previous webinar. I’d really like just to read out a few of these just to share with you. I can promise you that all printouts I’ve got, emails addresses are all clients are all 100% genuine comments that I’m about to read out.
The first one here, I just quickly run through them I’m not going to mention names obviously but this person said, “Another 6% today without hardly trying just on the 1-h...]]>http://theforextradingcoach.com/?p=4068Sun, 06 Apr 2014 19:56:44 +0000Andrew MitchemPodcast: In this video: 00:40  Understanding the difference between a big stop loss and a big risk 03:34  Information and trade results from clients 06:46  High reward to risk trading using low risk per trade It’s really important that you don’t...
In this video:
00:40  Understanding the difference between a big stop loss and a big risk
03:34  Information and trade results from clients
06:46  High reward to risk trading using low risk per trade
It’s really important that you don’t risk taking a big stop loss on a trade and associate with taking a big risk on a trade– they’re two completely different subjects. I’m going to tell more about that right now.

The Difference between a big stop loss and a big risk
Hi, traders it’s Andrew Mitchem here the Forex Trading Coach today is Friday the 4th of April and it’s Non-Farm employment day today and more about that later on in the video and podcast.
But first of all that I want to talk about, the differences between taking a big stop loss on a trade and a big risk on a trade they’re two completely different topics and it’s really important as a trader that you understand the difference. When you place a trade and you place a stop loss at a safety level for a reason to protect the trade and that stop loss amount in pips can vary of course between different currency pairs, different setups that you’re taking, different chart setups and of course different timeframe charts that you’re taking. But just because you’re taking a larger stop loss in terms of the number of pips on a trade don’t associate that or get that mixed up with taking a big risk on a trade. You see, if for example you were to take a 50 pip stop for example on a trade and you placed it there because that’s the level needed to be at to protect the trade. Not 50 pips because it’s an easy number to calculate or it’s the same on every trade that’s not how you should trade but let’s take for example 50 pips as the trade that you’ve decided needs, that level needs, that level needs to be at stop loss.
However if you are looking on that trade at having a profit target of 150 pips and again it’s not because it’s just three times the risk or because a round number. Let’s assume on this trade that 150 pips is the perfect profit target placement that is giving you a 3 to 1 reward to risk trade and so you must not associate that 50 pips for being a too big a risk and it’s an email that I get or a subject that I get on emails that’s really often from non clients and people are just getting too confused with that.
Another example is that let’s say you had $1,000 account and you were taking a trade with a 10 pip stop loss most people would associate a 10 pip stop loss as a low risk trade where in fact it may be or may not be. Let’s say on your $1,000 account you’re taking two standard lots on that trade now on most currency pairs two standard lots equals roughly around $20 per pip if you get stop out of that trade that’s $200 gone. Now $200 out of a $1,000 account is a huge risk. So can you really risk 20% of your account with just one trade? No you can’t that’s the answer. But most people associate that trade but just a 10 pip stop loss that’s been a really low risk and so you can see that by using that example how a 10 pip stop loss for two standard lots equals too big a risk yet that’s only 10 pips so that’s a really important point there to make.

Amazing Clients Trading Results
The other thing that I want to quickly tell you about is the webinar that I held last night for my clients and I’ve got some printouts here on emails from clients that sent me information and trade results over the last couple of weeks since our previous webinar. I’d really like just to read out a few of these just to share with you. I can promise you that all printouts I’ve got, emails addresses are all clients are all 100% genuine comments that I’m about to read out.
The first one here, I just quickly run through them I’m not going to mention names obviously but this person said, “Another 6% today without hardly trying just on the 1-h...]]>536falsefullhttps://www.spreaker.com/episode/fantastic-forex-trends-lead-to-big-profits--12239838
In this video:
00:23  A lot of strength this week in the AUD and NZD
02:29  Really good high win rate and a 6.3% account gain this week
05:13  How I use the strength and weakness analysis
 
We’ve had some big trends this week and that’s led to some big profits.  Let me share more details with you right now.
Hi everybody, it’s Andrew Mitchem here, the Forex Trading Coach, today is Friday the 28th of March, welcome to my weekly video and podcast.  And this week we’ve had some fantastic trends.  
A lot of strength this week in the AUD and NZD
We’ve seen a lot of strength this week in predominantly the AUD and the NZD.  We’ve had a lot of weakness in the EUR, the CHF, and also the USD.  Now what this has led to is a lot of good trends that we’ve been able to trade in the same direction for a large part of the week.
Now, so far this week I’m up +6.3% on my account by risking just 0.5% risk per trade.  That’s a fantastic return following on from last week’s great return also.  The breakup of that is that on the daily charts I’m up +1.1%, on closed trades and on open trades I’m up +0.4% heading into Friday, on the four hourly charts I’m up a fantastic +4.8% so far this week, and I still have one trade open behind me on the AUD/CHF buying that and the trade is almost full profit, and I’ve taken one trade on the one hourly charts and that made me 0.4%.  And so really a decent return so far – that was two trades on the hourly charts with 0.4% net gain.  So a really decent return so far this week with +6.3% on closed trades and +0.4% on open trades.  
Really good high win rate and a +6.3% account gain this week
Like I mentioned, following on from last week’s great performance as well, you can see with just a few trades and with high probability and low risk per trade, how you can make some fantastic returns from this market.  Now of course the strong trends have certainly helped in terms of identifying which pairs to trade and in which direction, and so far this week for my clients I’ve identified thirty-one strength and weakness analysis pairs over the five days so far.  And out of those thirty-one suggestions, twenty-five of those have ended the next day in the anticipated direction and only six have not.  So just a really good high win rate there.
How I use the strength and weakness analysis
Now when I’m looking for strength and weakness, what I do is I go through the different charts looking for where I see as predominant strength or predominant weakness on the charts in anticipation of helping me trade the upcoming twenty-four hours, so the next day.  Now the great thing with that is gives me an idea and a bias of where different currency pairs are likely to be heading.  I’ll give you a great example; so far this week I’ve been looking at mostly weakness in the Euro, and for a couple of the days this week, I’ve seen strength in the GBP.  You put the two together and you see weakening in the EUR and strength in the GBP.  That tells you the likelihood is that the EUR/GBP currency pair is likely to be falling.  Now you go and look at your charts and have a look back at what’s happened this week and you’ll see that the EUR/GBP has fallen quite a lot.  So, by having the idea in the back of your mind that the EUR looks weak all round and the GBP pound is looking strong, that's telling me that the ideal scenario when trading the EUR/GBP, on any time frame, but especially the shorter time frame charts, like the four hourly charts, the one hour, or down to anything shorter, ideally I want to be looking for setups that are giving me short positions, because that has a higher probability of success in my opinion, because my longer time frame perspective,]]>http://theforextradingcoach.com/?p=4035Sun, 30 Mar 2014 18:46:23 +0000Andrew MitchemPodcast: In this video: 00:23  A lot of strength this week in the AUD and NZD 02:29  Really good high win rate and a 6.3% account gain this week 05:13  How I use the strength and weakness analysis   We’ve had some big trends this week and that’s...
In this video:
00:23  A lot of strength this week in the AUD and NZD
02:29  Really good high win rate and a 6.3% account gain this week
05:13  How I use the strength and weakness analysis
 
We’ve had some big trends this week and that’s led to some big profits.  Let me share more details with you right now.
Hi everybody, it’s Andrew Mitchem here, the Forex Trading Coach, today is Friday the 28th of March, welcome to my weekly video and podcast.  And this week we’ve had some fantastic trends.  
A lot of strength this week in the AUD and NZD
We’ve seen a lot of strength this week in predominantly the AUD and the NZD.  We’ve had a lot of weakness in the EUR, the CHF, and also the USD.  Now what this has led to is a lot of good trends that we’ve been able to trade in the same direction for a large part of the week.
Now, so far this week I’m up +6.3% on my account by risking just 0.5% risk per trade.  That’s a fantastic return following on from last week’s great return also.  The breakup of that is that on the daily charts I’m up +1.1%, on closed trades and on open trades I’m up +0.4% heading into Friday, on the four hourly charts I’m up a fantastic +4.8% so far this week, and I still have one trade open behind me on the AUD/CHF buying that and the trade is almost full profit, and I’ve taken one trade on the one hourly charts and that made me 0.4%.  And so really a decent return so far – that was two trades on the hourly charts with 0.4% net gain.  So a really decent return so far this week with +6.3% on closed trades and +0.4% on open trades.  
Really good high win rate and a +6.3% account gain this week
Like I mentioned, following on from last week’s great performance as well, you can see with just a few trades and with high probability and low risk per trade, how you can make some fantastic returns from this market.  Now of course the strong trends have certainly helped in terms of identifying which pairs to trade and in which direction, and so far this week for my clients I’ve identified thirty-one strength and weakness analysis pairs over the five days so far.  And out of those thirty-one suggestions, twenty-five of those have ended the next day in the anticipated direction and only six have not.  So just a really good high win rate there.
How I use the strength and weakness analysis
Now when I’m looking for strength and weakness, what I do is I go through the different charts looking for where I see as predominant strength or predominant weakness on the charts in anticipation of helping me trade the upcoming twenty-four hours, so the next day.  Now the great thing with that is gives me an idea and a bias of where different currency pairs are likely to be heading.  I’ll give you a great example; so far this week I’ve been looking at mostly weakness in the Euro, and for a couple of the days this week, I’ve seen strength in the GBP.  You put the two together and you see weakening in the EUR and strength in the GBP.  That tells you the likelihood is that the EUR/GBP currency pair is likely to be falling.  Now you go and look at your charts and have a look back at what’s happened this week and you’ll see that the EUR/GBP has fallen quite a lot.  So, by having the idea in the back of your mind that the EUR looks weak all round and the GBP pound is looking strong, that's telling me that the ideal scenario when trading the EUR/GBP, on any time frame, but especially the shorter time frame charts, like the four hourly charts, the one hour, or down to anything shorter, ideally I want to be looking for setups that are giving me short positions, because that has a higher probability of success in my opinion, because my longer time frame perspective,]]>407falsefullhttps://www.spreaker.com/episode/amazing-forex-results-6-2-for-the-week--12239839
In this video:
00:26     Understanding about the markets
02:38     Amazing feedback from clients
04:28     Lot of strength in the US dollar
Amazing Forex Results +6.2% for the Week 
All we want as Forex traders is to achieve fantastic results.  We’ve had a great week this week.  Let me share more details with you right now. 
Hi traders, it’s Andrew Mitchem here. Today is Friday the 21st of March and welcome to my weekly video and podcast.  I want to talk about trading results because at the end of the day we can have all the logic, all the theory, all the understanding about the markets, the news, the charts, but if you don’t achieve good consistent results then what's is the point?  That is all we want as Forex traders isn’t it?  It is having a low-risk trading approach without taking too much of our time to study the charts but, of course, we’re after above-average returns.  This week has been an exceptional week, and I want to share some of the trade results with you right now. 
Starting from the longest timeframe down to the shortest, I have taken trades on the weekly charts this week, and I am up +0.7% on those on my own account.  On the daily charts, I am down 0.9% on closed trades.  On the 4-hourly chart I am up +3%; I had a great week on the 4-hour charts.  On the 1-hour charts I am up +2.8%, and on the 5-minute charts, of which I have only taken 1 trade, I am up +0.6%.  Put all those trades together and with only half of 1% risk per trade over all of those trades, I am up +6.2% for the week so far in just the first 4 days, as today is Friday, and we still have all of Friday’s trading to go.  So it is an amazing result when you think about it, and that’s probably somewhere between 2 or 4 times higher than most banks will pay you anywhere around the world right now, a 6.2% gain in 1 week.  Now, of course, that doesn’t happen every single week, but it shows again with consistency and low risk what can be achieved if you have yourself a good sound strategy that works across all pairs and all timeframes. 

Fantastic Feedback from Clients
Last night my time, I held a 2 ½ hour live trading room webinar session for my clients.  I took 4 trades live in that session, 3 of them were profitable.  I had 1 winning trade and 1 losing trade on the hour charts, 1 profitable trade out of the 1 taken on the 4-hour charts and a 5-minute chart trade that also was profitable.  The great thing about those sessions is we are looking at charts, trading in real time.  I’ve had some amazing feedback from clients on those sessions just making some great results. One client told me he made 9.6% return last week on his account, just fantastic results.  People were typing in all the time, “Hey Andrew what about this setup?  I have just taken full profit on this trade.”  It’s really pleasing to see when people are then taking trades by themselves and telling me just how profitable they have been, and it was happening all the time yesterday.  It was just really pleasing to see. 
So, if you want to be able to take advantage of sessions like that, make sure you join my course and get on to those live webinars.  They are held every 2 weeks, mostly in the European session, and they last between 2 to 2 ½ hours each.  Over the course over the year, that is providing you with at least 50 hours of live trading room sessions in 1 year.  Fifty hours, that is a lot of trading.  That is watching my charts behind me here with me explaining the charts right now as we saw them and looking at trade patterns and trade setups as they occur.  Of course, in that 2 ½  hours, there weren’t trades occurring all the time,]]>http://theforextradingcoach.com/?p=4021Sun, 23 Mar 2014 18:26:16 +0000Andrew MitchemPodcast: In this video: 00:26     Understanding about the markets 02:38     Amazing feedback from clients 04:28     Lot of strength in the US dollar Amazing Forex Results +6.2% for the Week  All we want as Forex traders is to achieve fantastic...
In this video:
00:26     Understanding about the markets
02:38     Amazing feedback from clients
04:28     Lot of strength in the US dollar
Amazing Forex Results +6.2% for the Week 
All we want as Forex traders is to achieve fantastic results.  We’ve had a great week this week.  Let me share more details with you right now. 
Hi traders, it’s Andrew Mitchem here. Today is Friday the 21st of March and welcome to my weekly video and podcast.  I want to talk about trading results because at the end of the day we can have all the logic, all the theory, all the understanding about the markets, the news, the charts, but if you don’t achieve good consistent results then what's is the point?  That is all we want as Forex traders isn’t it?  It is having a low-risk trading approach without taking too much of our time to study the charts but, of course, we’re after above-average returns.  This week has been an exceptional week, and I want to share some of the trade results with you right now. 
Starting from the longest timeframe down to the shortest, I have taken trades on the weekly charts this week, and I am up +0.7% on those on my own account.  On the daily charts, I am down 0.9% on closed trades.  On the 4-hourly chart I am up +3%; I had a great week on the 4-hour charts.  On the 1-hour charts I am up +2.8%, and on the 5-minute charts, of which I have only taken 1 trade, I am up +0.6%.  Put all those trades together and with only half of 1% risk per trade over all of those trades, I am up +6.2% for the week so far in just the first 4 days, as today is Friday, and we still have all of Friday’s trading to go.  So it is an amazing result when you think about it, and that’s probably somewhere between 2 or 4 times higher than most banks will pay you anywhere around the world right now, a 6.2% gain in 1 week.  Now, of course, that doesn’t happen every single week, but it shows again with consistency and low risk what can be achieved if you have yourself a good sound strategy that works across all pairs and all timeframes. 

Fantastic Feedback from Clients
Last night my time, I held a 2 ½ hour live trading room webinar session for my clients.  I took 4 trades live in that session, 3 of them were profitable.  I had 1 winning trade and 1 losing trade on the hour charts, 1 profitable trade out of the 1 taken on the 4-hour charts and a 5-minute chart trade that also was profitable.  The great thing about those sessions is we are looking at charts, trading in real time.  I’ve had some amazing feedback from clients on those sessions just making some great results. One client told me he made 9.6% return last week on his account, just fantastic results.  People were typing in all the time, “Hey Andrew what about this setup?  I have just taken full profit on this trade.”  It’s really pleasing to see when people are then taking trades by themselves and telling me just how profitable they have been, and it was happening all the time yesterday.  It was just really pleasing to see. 
So, if you want to be able to take advantage of sessions like that, make sure you join my course and get on to those live webinars.  They are held every 2 weeks, mostly in the European session, and they last between 2 to 2 ½ hours each.  Over the course over the year, that is providing you with at least 50 hours of live trading room sessions in 1 year.  Fifty hours, that is a lot of trading.  That is watching my charts behind me here with me explaining the charts right now as we saw them and looking at trade patterns and trade setups as they occur.  Of course, in that 2 ½  hours, there weren’t trades occurring all the time,]]>373falsefullhttps://www.spreaker.com/episode/when-trading-less-can-be-more--12239840
In this video:
00:34  The wrong way to trade
0345   New Zealand dollar is looking very strong
06:20  Lot size calculator for free

Glued To Your Charts?
Do you ever get the feeling that you are completely glued to your charts? You’re frightened to miss every move every single pip of movement. You’re glued there all day long you just can’t escape your charts. If that sounds like you let me share a few more details with you right now. 
Hi everybody its Andrew Mitchem here, The Forex Trading Coach welcome along to my latest video and podcast. Today is Friday the 14th of March. I want to talk about trading less because trading less is actually trading more. What I mean by that is that most people find that in order to make money through trading they feel that they have to trade more and more. They have to scalp the making lots a little trades, making pips here and there.  Well I think that is actually the wrong way to trade and the way that I trade and the way that I have more time than most other traders and actually enjoy life as well is that I trade the longer time frame charts. I want to share some examples with you right now.
You see I’ve taken trades on the monthly charts, the weekly charts the daily charts, the 4 hourly charts and the shortest time frame that I normally go to unless I’m trading live in front of my clients on the webinars is the one hour charts but that is generally only during the European session. The majority of my trades are weekly charts and daily charts or 4 hourly charts. The great thing with that is that means I can plan around my trading. If I’m trading weekly charts it means that just once a week on a Monday morning I need to look at my charts. If it’s a daily chart that I’m looking to take a trade from just once a day at 5pm New York time I look at my charts. If it’s a 4 hourly chart I look at different times throughout the day on the close, the completion of the 4 hourly chart.
So it’s really important that if that’s the way you’re looking at trading that you chose a broker who has a 5pm EST that is New York time start of day; really important that you do that. Look on the daily charts that have 5 full complete day candles. Some brokers have 6 and have what I call a small Sunday candle. If your broker has that it is probably a good idea to change brokers and go with a broker who starts their day at the correct time which is 5pm New York time. So the start of the day is actually Sunday in New York at 5pm and that doesn’t change throughout the year regardless of what the clocks do in your local time. 5pm New York time is always the start of  each new trading day. So make sure you have that on your charts.
Weekly Chart Trades
 
Now for some examples, I took a trade two weeks ago on the NZD against the USD on the weekly charts. It’s hit profit yesterday. It has made a great 165 pip profit. The biggest drawdown that the trade had at anytime from its open was only 17 pips. It had a bigger stop loss than 17 pips but from when the trade got filled it only went negative by 17 pips and it and it closed by 165 pips yesterday. It meant that I put the trade on 2 weeks ago and it took me probably 30 seconds to choose to take the trade and to place it. I did nothing with it. I left it open over the weekend because it was a weekly chart trade and because it was still looking strong it’s now closed. It took 9 days, 9 trading days but that’s fine. It didn’t take any more effort on my behalf and still made a great return.
Strong New Zealand Dollar
 
Interestingly that yesterday the New Zealand official cash rate was lifted by .25 points it’s now up to 2.75% which is one of the highest interest rates in the developed world, yet two weeks ago I could see that coming on the weekly charts and all of this week on the daily charts I’...]]>http://theforextradingcoach.com/?p=4010Sun, 16 Mar 2014 19:05:05 +0000Andrew MitchemPodcast: In this video: 00:34  The wrong way to trade 0345   New Zealand dollar is looking very strong 06:20  Lot size calculator for free Glued To Your Charts? Do you ever get the feeling that you are completely glued to your charts? You’re...
In this video:
00:34  The wrong way to trade
0345   New Zealand dollar is looking very strong
06:20  Lot size calculator for free

Glued To Your Charts?
Do you ever get the feeling that you are completely glued to your charts? You’re frightened to miss every move every single pip of movement. You’re glued there all day long you just can’t escape your charts. If that sounds like you let me share a few more details with you right now. 
Hi everybody its Andrew Mitchem here, The Forex Trading Coach welcome along to my latest video and podcast. Today is Friday the 14th of March. I want to talk about trading less because trading less is actually trading more. What I mean by that is that most people find that in order to make money through trading they feel that they have to trade more and more. They have to scalp the making lots a little trades, making pips here and there.  Well I think that is actually the wrong way to trade and the way that I trade and the way that I have more time than most other traders and actually enjoy life as well is that I trade the longer time frame charts. I want to share some examples with you right now.
You see I’ve taken trades on the monthly charts, the weekly charts the daily charts, the 4 hourly charts and the shortest time frame that I normally go to unless I’m trading live in front of my clients on the webinars is the one hour charts but that is generally only during the European session. The majority of my trades are weekly charts and daily charts or 4 hourly charts. The great thing with that is that means I can plan around my trading. If I’m trading weekly charts it means that just once a week on a Monday morning I need to look at my charts. If it’s a daily chart that I’m looking to take a trade from just once a day at 5pm New York time I look at my charts. If it’s a 4 hourly chart I look at different times throughout the day on the close, the completion of the 4 hourly chart.
So it’s really important that if that’s the way you’re looking at trading that you chose a broker who has a 5pm EST that is New York time start of day; really important that you do that. Look on the daily charts that have 5 full complete day candles. Some brokers have 6 and have what I call a small Sunday candle. If your broker has that it is probably a good idea to change brokers and go with a broker who starts their day at the correct time which is 5pm New York time. So the start of the day is actually Sunday in New York at 5pm and that doesn’t change throughout the year regardless of what the clocks do in your local time. 5pm New York time is always the start of  each new trading day. So make sure you have that on your charts.
Weekly Chart Trades
 
Now for some examples, I took a trade two weeks ago on the NZD against the USD on the weekly charts. It’s hit profit yesterday. It has made a great 165 pip profit. The biggest drawdown that the trade had at anytime from its open was only 17 pips. It had a bigger stop loss than 17 pips but from when the trade got filled it only went negative by 17 pips and it and it closed by 165 pips yesterday. It meant that I put the trade on 2 weeks ago and it took me probably 30 seconds to choose to take the trade and to place it. I did nothing with it. I left it open over the weekend because it was a weekly chart trade and because it was still looking strong it’s now closed. It took 9 days, 9 trading days but that’s fine. It didn’t take any more effort on my behalf and still made a great return.
Strong New Zealand Dollar
 
Interestingly that yesterday the New Zealand official cash rate was lifted by .25 points it’s now up to 2.75% which is one of the highest interest rates in the developed world, yet two weeks ago I could see that coming on the weekly charts and all of this week on the daily charts I’...]]>401falsefullhttps://www.spreaker.com/episode/2-75-forex-account-gain-during-a-live-webinar--12239841
In this video:
00:26   Fantastic price action and enormous moves this week
03:56   2.75% account gain just in two hours!
04:37   A client made 1.45% gain trading the weekly charts
Well all of a sudden we’ve seen lots of fantastic price action, which all that means is just amazing opportunities to make money from the Forex market. Let me share more details with you, right now!

Big Price Action Moves on the Forex Charts
Hi every body, it's Andrew Mitchem here, the Forex Trading Coach today is Friday the 7th of March. And after a couple of weeks of some fairly quite indecisive action, we've suddenly this week seen some fantastic action; had some enormous moves! Most of which I'd predicted to my clients and also free on my website, on and on Forex Peace Army. And so, make sure you do log in to view that information each day.
Just yesterday had some enormous moves on the Euro pairs, the Euro has moved up yesterday, being Thursday; over 150 pips against the USD and over 240 pips against the JPY so just enormous moves there, great opportunities to make money for us. The Yen has been really weak all around and the US has been fairly weak as well. The other big gainers have been the NZD and the AUD. Now I've been looking at buy opportunities on those almost every day this week, certainly Tuesday, Wednesday, Thursday. Today is non-farm payroll day so you just need to be a little bit cautious there about what to take heading into a day with non-farm payrolls, as things can be a little bit more difficult to trade. But, as I mentioned I've been looking at definitely AUD and definitely NZD strength throughout the entire week. The news again the fundamentals have backed up what's already been shown well in advance on the charts, so it's really great when you get the two matched up side by side.

A 2.75% Account Gain in 2 hours on a Live Trading Room Webinar
Yesterday I held a live trading room session for my clients where I trade on my charts, as you can see behind me here; in front of my clients on a live account. There's no better way of learning how to trade than to watch someone trading in real time. And I took six new trades during the session; they were on the one hour charts and one minute charts. Now out of those six trades, two of them were stopped out and four hit full profit. And as a net result there was a 5.5 to 1 risk reward. So in other words if you were risking one percent of your account per trade, there was a 5.5% gain in just the two hours on those six trades that I took live in front of everybody. I traded half of 1 percent to risk for me, on my account, and that was a 2.75% account gain; just on those two hours! So just a fantastic result!

Client makes +1.45% trading the Weekly Charts
I also had trades open, or shown trades open, on the four hour charts, the daily charts, the weekly charts, and the monthly charts. And my weekly charts and monthly charts trades behind me now are at 1.3%, and the four hourly chart trades have also made profit this week. I also had during the session many other traders taking live trades and they also just had a huge profitable time. I also had a client from Iceland who mentioned that they had made +1.45% gain on their account last week by trading just the weekly charts.
So the point I'm trying to make here is I have taken trades, and shown trades, ranging from a one minute chart right through to a monthly chart; and everything else in between. So it's really important as to what suits you. Don't forget if you're trading weekly charts or monthly charts it just means a few minutes of work once every week, or on a monthly chart once a month, that's all it is. The trades I’ve got behind me open here on the weekly charts I'm at +1.3% on open trades; but they took me 10 minutes to place on Monday morning.]]>http://theforextradingcoach.com/?p=3994Sun, 09 Mar 2014 19:52:31 +0000Andrew MitchemPodcast: In this video: 00:26   Fantastic price action and enormous moves this week 03:56   2.75% account gain just in two hours! 04:37   A client made 1.45% gain trading the weekly charts Well all of a sudden we’ve seen lots of fantastic price...
In this video:
00:26   Fantastic price action and enormous moves this week
03:56   2.75% account gain just in two hours!
04:37   A client made 1.45% gain trading the weekly charts
Well all of a sudden we’ve seen lots of fantastic price action, which all that means is just amazing opportunities to make money from the Forex market. Let me share more details with you, right now!

Big Price Action Moves on the Forex Charts
Hi every body, it's Andrew Mitchem here, the Forex Trading Coach today is Friday the 7th of March. And after a couple of weeks of some fairly quite indecisive action, we've suddenly this week seen some fantastic action; had some enormous moves! Most of which I'd predicted to my clients and also free on my website, on and on Forex Peace Army. And so, make sure you do log in to view that information each day.
Just yesterday had some enormous moves on the Euro pairs, the Euro has moved up yesterday, being Thursday; over 150 pips against the USD and over 240 pips against the JPY so just enormous moves there, great opportunities to make money for us. The Yen has been really weak all around and the US has been fairly weak as well. The other big gainers have been the NZD and the AUD. Now I've been looking at buy opportunities on those almost every day this week, certainly Tuesday, Wednesday, Thursday. Today is non-farm payroll day so you just need to be a little bit cautious there about what to take heading into a day with non-farm payrolls, as things can be a little bit more difficult to trade. But, as I mentioned I've been looking at definitely AUD and definitely NZD strength throughout the entire week. The news again the fundamentals have backed up what's already been shown well in advance on the charts, so it's really great when you get the two matched up side by side.

A 2.75% Account Gain in 2 hours on a Live Trading Room Webinar
Yesterday I held a live trading room session for my clients where I trade on my charts, as you can see behind me here; in front of my clients on a live account. There's no better way of learning how to trade than to watch someone trading in real time. And I took six new trades during the session; they were on the one hour charts and one minute charts. Now out of those six trades, two of them were stopped out and four hit full profit. And as a net result there was a 5.5 to 1 risk reward. So in other words if you were risking one percent of your account per trade, there was a 5.5% gain in just the two hours on those six trades that I took live in front of everybody. I traded half of 1 percent to risk for me, on my account, and that was a 2.75% account gain; just on those two hours! So just a fantastic result!

Client makes +1.45% trading the Weekly Charts
I also had trades open, or shown trades open, on the four hour charts, the daily charts, the weekly charts, and the monthly charts. And my weekly charts and monthly charts trades behind me now are at 1.3%, and the four hourly chart trades have also made profit this week. I also had during the session many other traders taking live trades and they also just had a huge profitable time. I also had a client from Iceland who mentioned that they had made +1.45% gain on their account last week by trading just the weekly charts.
So the point I'm trying to make here is I have taken trades, and shown trades, ranging from a one minute chart right through to a monthly chart; and everything else in between. So it's really important as to what suits you. Don't forget if you're trading weekly charts or monthly charts it just means a few minutes of work once every week, or on a monthly chart once a month, that's all it is. The trades I’ve got behind me open here on the weekly charts I'm at +1.3% on open trades; but they took me 10 minutes to place on Monday morning.]]>285falsefullhttps://www.spreaker.com/episode/a-live-4-8-1-reward-risk-trade--12239844
In this video:
01:14  A 2.4 percent account gain just on one trade
02:32  Good news out of New Zealand all week
04:15  New chapter of my eBook has been released
I’ve got a trade open right now on the charts that’s a 4.8 to 1 risk to reward trade.  So, with a one percent risk, that’s a 2.4 percent gain on my account.  I’ll share more details about that trade right now.
Hi, traders, its Andrew Mitchem here, the Forex Trading Coach, welcome along to this weekly video and podcast.  And today is the last day of February, it’s the 28th today.  I want to share with you some information regarding a trade that I’ve suggested to my clients today, and I have it open on my Live account right now, so if you’re watching the video, you can see it behind; if you’re listening to the podcast, I’ll just explain about the trade.
Trade open at 4.8:1 Reward:Risk on the GBP/NZD
So right behind me here you can probably see that I’ve got a big red bearish candle on the most up-to-date candle; that’s a GBP/NZD chart, and the trade right now is up 116 pips, and it has a stop loss of 24 pips.  Now that’s giving me a massive 4.8 to 1 reward to risk.  And so as I mentioned at the intro, with a one percent gain, that’s a 2.4 percent account gain, just on that one trade, and that trade took me probably thirty seconds to put on my charts today; it’s still open, I haven’t closed it yet, but it’s looking really, really good.  And that all ties into yet again, the charts are pointing the way, the charts are showing us where the fundamentals are likely to be heading.  And I’ve mentioned this quite a number of times recently on these videos and podcasts, and yet again the same thing is showing, and it’s happening right now.
If I lean over the other side here, you can see the NZD/USD climbing nicely; I’ve got a buy trade on that.  That particular trade is up around 60 pips with a 25 pip stop loss, so just over a 2 to 1 risk to reward on that open trade.  And those two trades that I’ve mentioned are both mentioned to my clients with the exact entry points, the exact exit points, and the reasons for taking the trade.  So, just with those two, you know, with a half a percent risk even, that’s still several percent on your account in one day.  And of course, the trades have still got a little way further to go before they get to their full profit target.  So, it just shows what can be achieved.  Now, these are both on the daily charts, so both very profitable trades.

Excellent Fundamental News out of New Zealand – Again
But looking at the fundamentals, there’s been good news out of New Zealand all week, yet again.  The technicals have been showing that all week, I've been bullish on the New Zealand dollar, for pretty much the whole week, and I’ve mentioned that on my posts on my site to my clients and on Forex Peace Army, so you can go back and look at those, that information that I’ve been looking at on the Kiwi dollar.  
The trade balance figures that have come out of New Zealand this week, they are thirty percent higher than the expected, so it’s a massive increase. We've just had today, the business conference news has come out, it’s the highest level within the business sector since 1994; that's twenty years, it’s the highest level the business conference figures that have come out just today, the highest in twenty years.  The job expectancy, so companies and their expectancy for hiring new staff heading into the rest of the year, it’s the highest since 1992.  The dairy farmers have just set up payouts, so everything is going really well, and all this is doing is giving positive news for the New Zealand economy, which in turn is pushing up the New Zealand dol...]]>http://theforextradingcoach.com/?p=3980Sun, 02 Mar 2014 18:46:23 +0000Andrew MitchemPodcast: In this video: 01:14  A 2.4 percent account gain just on one trade 02:32  Good news out of New Zealand all week 04:15  New chapter of my eBook has been released I’ve got a trade open right now on the charts that’s a 4.8 to 1 risk to...
In this video:
01:14  A 2.4 percent account gain just on one trade
02:32  Good news out of New Zealand all week
04:15  New chapter of my eBook has been released
I’ve got a trade open right now on the charts that’s a 4.8 to 1 risk to reward trade.  So, with a one percent risk, that’s a 2.4 percent gain on my account.  I’ll share more details about that trade right now.
Hi, traders, its Andrew Mitchem here, the Forex Trading Coach, welcome along to this weekly video and podcast.  And today is the last day of February, it’s the 28th today.  I want to share with you some information regarding a trade that I’ve suggested to my clients today, and I have it open on my Live account right now, so if you’re watching the video, you can see it behind; if you’re listening to the podcast, I’ll just explain about the trade.
Trade open at 4.8:1 Reward:Risk on the GBP/NZD
So right behind me here you can probably see that I’ve got a big red bearish candle on the most up-to-date candle; that’s a GBP/NZD chart, and the trade right now is up 116 pips, and it has a stop loss of 24 pips.  Now that’s giving me a massive 4.8 to 1 reward to risk.  And so as I mentioned at the intro, with a one percent gain, that’s a 2.4 percent account gain, just on that one trade, and that trade took me probably thirty seconds to put on my charts today; it’s still open, I haven’t closed it yet, but it’s looking really, really good.  And that all ties into yet again, the charts are pointing the way, the charts are showing us where the fundamentals are likely to be heading.  And I’ve mentioned this quite a number of times recently on these videos and podcasts, and yet again the same thing is showing, and it’s happening right now.
If I lean over the other side here, you can see the NZD/USD climbing nicely; I’ve got a buy trade on that.  That particular trade is up around 60 pips with a 25 pip stop loss, so just over a 2 to 1 risk to reward on that open trade.  And those two trades that I’ve mentioned are both mentioned to my clients with the exact entry points, the exact exit points, and the reasons for taking the trade.  So, just with those two, you know, with a half a percent risk even, that’s still several percent on your account in one day.  And of course, the trades have still got a little way further to go before they get to their full profit target.  So, it just shows what can be achieved.  Now, these are both on the daily charts, so both very profitable trades.

Excellent Fundamental News out of New Zealand – Again
But looking at the fundamentals, there’s been good news out of New Zealand all week, yet again.  The technicals have been showing that all week, I've been bullish on the New Zealand dollar, for pretty much the whole week, and I’ve mentioned that on my posts on my site to my clients and on Forex Peace Army, so you can go back and look at those, that information that I’ve been looking at on the Kiwi dollar.  
The trade balance figures that have come out of New Zealand this week, they are thirty percent higher than the expected, so it’s a massive increase. We've just had today, the business conference news has come out, it’s the highest level within the business sector since 1994; that's twenty years, it’s the highest level the business conference figures that have come out just today, the highest in twenty years.  The job expectancy, so companies and their expectancy for hiring new staff heading into the rest of the year, it’s the highest since 1992.  The dairy farmers have just set up payouts, so everything is going really well, and all this is doing is giving positive news for the New Zealand economy, which in turn is pushing up the New Zealand dol...]]>346falsefullhttps://www.spreaker.com/episode/is-it-worth-paying-for-forex-education--12239842
In this video:
01:10     Live trading room webinars during the European time
03:29     One minute charts showing really good setups on the session
06:36     A brilliant way of being financially free

Is it worth paying someone money to teach you how to trade Forex successfully? 
Is it worth paying someone money to teach you how to trade Forex successfully? I believe it is but let me share my reasons with you right now.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Welcome along today is Friday the 21st of February. It’s a question that so many people ask all the time. It doesn’t matter where you go within the Forex road whether it be on forums or wherever it may be. People were all saying, “You know shouldn’t really have to pay for trading, should you, everything is available online, why pay someone all this money or go to a course, so buy a book whatever it might be. Why pay people money to do things you can find just on Google.”
Well you can find a lot of trading information on Google, of course not all of these are good information but a lot of information is there no doubt about that. But I want to share with you one really important aspect about my course that I believe makes it stand out above almost all others out there and why I believe my clients or the vast majority of my clients become such a successful Forex traders and that’s true to my live webinars. I held a live trading session webinar yesterday during the European time and I had clients from all over the world attending that session. It was 2:15 long, it was a live, it was trading during the European session. The fantastic thing about it is not only we interacting and answering questions and asking questions and looking at previous trades, etc., which is a great way to learn but the best thing is that we’re trading live. There’s no substitute for it, there’s no “cherry picking” just the best trades and making these really great videos just showing you the perfect trades or showing you screenshots of trades that work but secretly hiding all the ones that didn’t, there's not all that and that’s the beauty of it. You know I go through and I show you the trades that I’ve taken over the last couple of weeks since we last caught up and I show all the trades there, the good ones, the bad ones because of course you can learn from losing trades just as well as you can learn from the profitable trades but during the session themselves we’re looking at taking live trades.

All Time Frame Charts Covered 
Now just to give you an example on yesterday’s webinar I had traders there that were taking trades on one minute charts, five minute charts, fifteen minute charts, one hour charts, four hour charts, daily charts and weekly charts. We covered all the spectrum so there’s something there to suit you regardless of what timeframe trader you are because of course it’s really important to find the right style of trading that suits you. I can provide you with strategy, that’s fine; no problem there. I can provide you with a strategy that works really well across all timeframes, across all currency pairs.
The thing that you need to do is work out what suits you. I give you some examples. I had some clients on the session last night who trade just daily charts and weekly charts. It’s what suits them, they love it, and they don’t want to be at their charts all the time. Completely the other end of the scale I had traders who trade just one and five minute charts for a couple of hours during each session for three days a week and that’s it but they both make money.
On the session yesterday we were finding that the hour charts were not producing very good setups yesterday. In fact I didn’t take a single trade on the hour charts live....]]>http://theforextradingcoach.com/?p=3967Sun, 23 Feb 2014 18:11:45 +0000Andrew MitchemPodcast: In this video: 01:10     Live trading room webinars during the European time 03:29     One minute charts showing really good setups on the session 06:36     A brilliant way of being financially free Is it worth paying someone money to...
In this video:
01:10     Live trading room webinars during the European time
03:29     One minute charts showing really good setups on the session
06:36     A brilliant way of being financially free

Is it worth paying someone money to teach you how to trade Forex successfully? 
Is it worth paying someone money to teach you how to trade Forex successfully? I believe it is but let me share my reasons with you right now.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Welcome along today is Friday the 21st of February. It’s a question that so many people ask all the time. It doesn’t matter where you go within the Forex road whether it be on forums or wherever it may be. People were all saying, “You know shouldn’t really have to pay for trading, should you, everything is available online, why pay someone all this money or go to a course, so buy a book whatever it might be. Why pay people money to do things you can find just on Google.”
Well you can find a lot of trading information on Google, of course not all of these are good information but a lot of information is there no doubt about that. But I want to share with you one really important aspect about my course that I believe makes it stand out above almost all others out there and why I believe my clients or the vast majority of my clients become such a successful Forex traders and that’s true to my live webinars. I held a live trading session webinar yesterday during the European time and I had clients from all over the world attending that session. It was 2:15 long, it was a live, it was trading during the European session. The fantastic thing about it is not only we interacting and answering questions and asking questions and looking at previous trades, etc., which is a great way to learn but the best thing is that we’re trading live. There’s no substitute for it, there’s no “cherry picking” just the best trades and making these really great videos just showing you the perfect trades or showing you screenshots of trades that work but secretly hiding all the ones that didn’t, there's not all that and that’s the beauty of it. You know I go through and I show you the trades that I’ve taken over the last couple of weeks since we last caught up and I show all the trades there, the good ones, the bad ones because of course you can learn from losing trades just as well as you can learn from the profitable trades but during the session themselves we’re looking at taking live trades.

All Time Frame Charts Covered 
Now just to give you an example on yesterday’s webinar I had traders there that were taking trades on one minute charts, five minute charts, fifteen minute charts, one hour charts, four hour charts, daily charts and weekly charts. We covered all the spectrum so there’s something there to suit you regardless of what timeframe trader you are because of course it’s really important to find the right style of trading that suits you. I can provide you with strategy, that’s fine; no problem there. I can provide you with a strategy that works really well across all timeframes, across all currency pairs.
The thing that you need to do is work out what suits you. I give you some examples. I had some clients on the session last night who trade just daily charts and weekly charts. It’s what suits them, they love it, and they don’t want to be at their charts all the time. Completely the other end of the scale I had traders who trade just one and five minute charts for a couple of hours during each session for three days a week and that’s it but they both make money.
On the session yesterday we were finding that the hour charts were not producing very good setups yesterday. In fact I didn’t take a single trade on the hour charts live....]]>447falsefullhttps://www.spreaker.com/episode/a-3-5-gain-for-the-week--12239843
In this video:
01:02     US Non-Farm Payrolls worse than anticipated
03:02     GBP and Kiwi Dollar overall the big movers of the week
05:52     FPA user made 6.7% on one day using free suggestions
Well we’ve had good trades, fantastic results, big movements on the charts and last week’s Non-Farm Payroll's – I was bang on.
Let me share more information with you right now.
Hi it’s Andrew Mitchem here welcome along. I’m from the Forex Trading Coach.Today is Friday the 14th of February and it’s a Valentine’s Day so hope you’re having a fantastic day with your love ones.
I want to talk about some really good trades that have occurred this week.
But before I must jump into that I must tell you about last week’s Non-Farm Payrolls.

How I predicted last week's US jobs data would be worse than anticipated
I make these videos on Friday morning my time and so when I was making last week’s video and podcast that was sixteen hours before the release of the non-farm payroll's which is Friday morning US time. That’s the early hours of the morning New Zealand time on Saturday.
So that was a long time before the announcement when I made a prediction on the last week’s video to say according to what I could see on the charts as a technical trader it looked to me like the US non-farm payrolls would be worse than anticipated and that’s exactly how they came out.
In fact the result was 40% worst than anticipated.
The anticipated result was around 185,000 new jobs created for the month. The actual result came in at 113,000 jobs, so a huge difference there, a 40% reduction from the actual to what was anticipated.
But the great thing is as a technical trader is that we could see the likely result of that news announcement and more importantly the likely direction some sixteen hours prior to that announcement coming out. It was almost like staring at us – glaringly obvious  on the charts that was the likely outcome.
I just wanted to let you know that you don’t have to wait around for those news announcements, the big spreads and things like that because the charts were telling us well and advance what the likely result was going to be and the likely direction and of course it worked really well.

GBP, USD and NZD are the big movers for the week
So onto the charts themselves this week – we have seen that USD continue to fall following on from that non-farm payroll announcements that poor results for the US jobs and we’ve seen being the GBP very strong this week.
We’ve also seen the Kiwi Dollar and also the CAD to lesser extent but also those showing strength.
Gold and silver have continued to climb all week.
The EUR is the interesting one this week. On Tuesday and Wednesday we had a big reduction – there was a bit of a clue on Tuesday with the Pinbar showing on the daily charts the price then fell on Wednesday and then on Thursday it was completely reversed and it’s pushing back up again looking to continue from what I can see right now.
Today being Friday I’m looking for Buy opportunities on the EUR/USD and Sell opportunities on the US/Swiss Franc.
Right now as I’m looking at the charts that to me seems the likely direction but the GBP and Kiwi Dollar overall definitely been the big movers of the week – pretty much straight up day after day.

+3.5% Gain for the Week
As a result to that we’ve had a really good week on my own personal trades. I’m up over 3.5% right now for the week and that’s trading with only 0.5% risk on any trade.]]>http://theforextradingcoach.com/?p=3957Sun, 16 Feb 2014 21:02:33 +0000Andrew MitchemPodcast: In this video: 01:02     US Non-Farm Payrolls worse than anticipated 03:02     GBP and Kiwi Dollar overall the big movers of the week 05:52     FPA user made 6.7% on one day using free suggestions Well we’ve had good trades, fantastic...
In this video:
01:02     US Non-Farm Payrolls worse than anticipated
03:02     GBP and Kiwi Dollar overall the big movers of the week
05:52     FPA user made 6.7% on one day using free suggestions
Well we’ve had good trades, fantastic results, big movements on the charts and last week’s Non-Farm Payroll's – I was bang on.
Let me share more information with you right now.
Hi it’s Andrew Mitchem here welcome along. I’m from the Forex Trading Coach.Today is Friday the 14th of February and it’s a Valentine’s Day so hope you’re having a fantastic day with your love ones.
I want to talk about some really good trades that have occurred this week.
But before I must jump into that I must tell you about last week’s Non-Farm Payrolls.

How I predicted last week's US jobs data would be worse than anticipated
I make these videos on Friday morning my time and so when I was making last week’s video and podcast that was sixteen hours before the release of the non-farm payroll's which is Friday morning US time. That’s the early hours of the morning New Zealand time on Saturday.
So that was a long time before the announcement when I made a prediction on the last week’s video to say according to what I could see on the charts as a technical trader it looked to me like the US non-farm payrolls would be worse than anticipated and that’s exactly how they came out.
In fact the result was 40% worst than anticipated.
The anticipated result was around 185,000 new jobs created for the month. The actual result came in at 113,000 jobs, so a huge difference there, a 40% reduction from the actual to what was anticipated.
But the great thing is as a technical trader is that we could see the likely result of that news announcement and more importantly the likely direction some sixteen hours prior to that announcement coming out. It was almost like staring at us – glaringly obvious  on the charts that was the likely outcome.
I just wanted to let you know that you don’t have to wait around for those news announcements, the big spreads and things like that because the charts were telling us well and advance what the likely result was going to be and the likely direction and of course it worked really well.

GBP, USD and NZD are the big movers for the week
So onto the charts themselves this week – we have seen that USD continue to fall following on from that non-farm payroll announcements that poor results for the US jobs and we’ve seen being the GBP very strong this week.
We’ve also seen the Kiwi Dollar and also the CAD to lesser extent but also those showing strength.
Gold and silver have continued to climb all week.
The EUR is the interesting one this week. On Tuesday and Wednesday we had a big reduction – there was a bit of a clue on Tuesday with the Pinbar showing on the daily charts the price then fell on Wednesday and then on Thursday it was completely reversed and it’s pushing back up again looking to continue from what I can see right now.
Today being Friday I’m looking for Buy opportunities on the EUR/USD and Sell opportunities on the US/Swiss Franc.
Right now as I’m looking at the charts that to me seems the likely direction but the GBP and Kiwi Dollar overall definitely been the big movers of the week – pretty much straight up day after day.

+3.5% Gain for the Week
As a result to that we’ve had a really good week on my own personal trades. I’m up over 3.5% right now for the week and that’s trading with only 0.5% risk on any trade.]]>443falsefullhttps://www.spreaker.com/episode/a-warning-for-all-new-forex-traders-plus-job-news-predictions--12239845
 
An Important Warning Message Fore New Forex Traders – Plus Jobs News Predictions
In this video:
00:56 Unrealistic goals and expectations
03:49 Don’t expect to make a fortune on day one
05:33 A trade made a full profit in 1½ hours
07:24 Having a successful trading system
I’ve got a warning for new traders. Let me share more information with you right now.
Hi this is Andrew Mitchem here from the Forex Trading Coach, today is Friday the 7th of February and I have a really important message and a warning for all new traders out there. Taking a loss is a part of trading you need to accept. If you can’t take losses then you probably shouldn’t be trading or at least not on a live account anyway. Taking a loss is something that most people really struggle with and they find it hard and of course it’s an unpleasant feeling not it likes to lose money. But you have to accept that it’s the reality and it’s a part of trading especially in your early days of trading.
Don't Expect to make a fortune from day 1
The problem that I find with so many people and I’m talking to new traders mostly here is that they expect to win straight away from day one and it’s completely unrealistic. They have unrealistic goals and expectations in terms of the amount of money they’re going to make and how quickly they’re going to make it. Unfortunately I’m here to tell you that in most cases and most people your goals are unrealistic. It’s a bit harsh and not many people would tell you that but I’ve been trading the markets for over ten years and I’ve seen thousands of people in terms of people in terms of emails and correspondents and people who’ve done my course and I can tell you that most people who come to me before they’ve taken my course they just have such unrealistic expectations.
So I’m here to say, “Learn from your mistakes.” Because I believe that the best way of learning in trading is to make the mistakes that everybody is going to make and I’ve made so many mistakes myself. Make those mistakes but learn from them. Don’t give up but learn from them and accept mistakes and accept losing as part of trading. It’s just real life.
When was the last time that you took up a new hobby and you’re instantly amazing at it? It probably never happened. How many people do you know take up a piano and within a week or a month they’re playing in like a band or they’re playing in an orchestra? It just doesn’t happen. I’ll give you another example, I’m currently learning how to fly a helicopter and aiming to get my private pilot license. Now my instructor just makes flying that helicopter looks so easy. We just travel along and we just turn nicely and we hover nicely. He’s been flying for over 22 years. I’ve been flying for two weeks. I’m all over the place my helicopter is going like this he is forever grabbing the controls off me to trying and get me back to level again before it’s my go again. I’m all over the place and it’s no different to flying a helicopter to learning to play a piano to starting a new job. How many times have you started a new job and you’ve done your new job better than someone who’s been doing that job for 10 or 20 years? It’s just unrealistic to expect that to happen.
How many times do you take up a new career if you have no training for it? You expect to be brilliant at it. It’s unrealistic isn’t it? You can see how all these things go back to trading. People read on the internet that they can make 20, 50% a month and expect to do it. Fine, you can do it but you’re not going to do it on day one and you’re not going to do it treating yourself as a business for low risk and controlled risk. So I really want to point that point over there not to be a downer because I’m always an optimist and I’m always looking at the positive ...]]>http://theforextradingcoach.com/?p=3946Sun, 09 Feb 2014 19:16:16 +0000Andrew MitchemPodcast:   An Important Warning Message Fore New Forex Traders – Plus Jobs News Predictions In this video: 00:56 Unrealistic goals and expectations 03:49 Don’t expect to make a fortune on day one 05:33 A trade made a full profit in 1½ hours...
 
An Important Warning Message Fore New Forex Traders – Plus Jobs News Predictions
In this video:
00:56 Unrealistic goals and expectations
03:49 Don’t expect to make a fortune on day one
05:33 A trade made a full profit in 1½ hours
07:24 Having a successful trading system
I’ve got a warning for new traders. Let me share more information with you right now.
Hi this is Andrew Mitchem here from the Forex Trading Coach, today is Friday the 7th of February and I have a really important message and a warning for all new traders out there. Taking a loss is a part of trading you need to accept. If you can’t take losses then you probably shouldn’t be trading or at least not on a live account anyway. Taking a loss is something that most people really struggle with and they find it hard and of course it’s an unpleasant feeling not it likes to lose money. But you have to accept that it’s the reality and it’s a part of trading especially in your early days of trading.
Don't Expect to make a fortune from day 1
The problem that I find with so many people and I’m talking to new traders mostly here is that they expect to win straight away from day one and it’s completely unrealistic. They have unrealistic goals and expectations in terms of the amount of money they’re going to make and how quickly they’re going to make it. Unfortunately I’m here to tell you that in most cases and most people your goals are unrealistic. It’s a bit harsh and not many people would tell you that but I’ve been trading the markets for over ten years and I’ve seen thousands of people in terms of people in terms of emails and correspondents and people who’ve done my course and I can tell you that most people who come to me before they’ve taken my course they just have such unrealistic expectations.
So I’m here to say, “Learn from your mistakes.” Because I believe that the best way of learning in trading is to make the mistakes that everybody is going to make and I’ve made so many mistakes myself. Make those mistakes but learn from them. Don’t give up but learn from them and accept mistakes and accept losing as part of trading. It’s just real life.
When was the last time that you took up a new hobby and you’re instantly amazing at it? It probably never happened. How many people do you know take up a piano and within a week or a month they’re playing in like a band or they’re playing in an orchestra? It just doesn’t happen. I’ll give you another example, I’m currently learning how to fly a helicopter and aiming to get my private pilot license. Now my instructor just makes flying that helicopter looks so easy. We just travel along and we just turn nicely and we hover nicely. He’s been flying for over 22 years. I’ve been flying for two weeks. I’m all over the place my helicopter is going like this he is forever grabbing the controls off me to trying and get me back to level again before it’s my go again. I’m all over the place and it’s no different to flying a helicopter to learning to play a piano to starting a new job. How many times have you started a new job and you’ve done your new job better than someone who’s been doing that job for 10 or 20 years? It’s just unrealistic to expect that to happen.
How many times do you take up a new career if you have no training for it? You expect to be brilliant at it. It’s unrealistic isn’t it? You can see how all these things go back to trading. People read on the internet that they can make 20, 50% a month and expect to do it. Fine, you can do it but you’re not going to do it on day one and you’re not going to do it treating yourself as a business for low risk and controlled risk. So I really want to point that point over there not to be a downer because I’m always an optimist and I’m always looking at the positive ...]]>475falsefullhttps://www.spreaker.com/episode/the-state-of-the-new-zealand-economy-and-how-it-affects-us-as-forex-traders--12239846
In this video:
00:31   Something that Forex Traders must be aware of
02:11   The New Zealand economy is looking strong
03:20   Important aspect of any business is to have a good leader
05:36   Free webinars every week
Hi, it’s Andrew Mitchem here the Forex Trading Coach, and in today’s video and podcast I want to talk about the state of the New Zealand economy and how it affects us as Forex Traders.
So let me share more with you right now!
The State of the New Zealand Economy
Hi, Andrew Mitchem here the Forex Trading Coach. Today is Friday, the 31st of January and that’s right I want to share some information with you about the New Zealand economy.  Obviously it’s something that is close to me, living in New Zealand, but it’s just something as Forex Traders to be aware of.  And I also want to relate that, to talk about our Prime Minister, Mr. John Key, who was an ex-Forex Trader. So you can see the story relates there to us as Forex Traders.
Well, obviously New Zealand’s a very small economy. But it’s actually one of the few countries and economies around the developed world that’s been through the recession, the recent recession, and has come out relatively unscathed. And it’s an amazing feat really when you consider the problems that the current government, the current National Government lead by John Key, faced when they took over from the Labor government.
You see they’d had huge budget deficits and we then had the Christchurch earthquake, which devastated the second largest city in New Zealand; and is still in recovery even today. Of course globally we’ve been through one of the biggest recessions since the 30’s. All that has been stacked against New Zealand when you consider that New Zealand is an export economy; relying on the export of most of our products that are made here, primarily agriculture goods. And all of that has occurred with the New Zealand dollar being at an historical very high level. So of course with the New Zealand being high, that’s actually bad for the exporters, because the amount of income that they produce is reduced, due to the increased value of the New Zealand dollar.
Likewise another one of New Zealand’s big industries is tourism, with many people wanting to come here to see the, all the amazing things that New Zealand has to offer. For people coming into New Zealand having the New Zealand dollar very high has meant that for them coming here, it means they actually get “less bang” for their buck; and they actually get less money coming into the country which makes it far more expensive to actually be here on holiday and to spend money here.
So two negatives there; in terms of bad news for the exporters and bad news for the tourism industry. However throughout all of that, the New Zealand economy has thrived. We've also just had some great news in terms of the employment statistics, the government now has the Country out of a budget deficit, which they promised to do when they first came into power. So putting all this together with the global recession and with the Christchurch earthquake it’s an amazing feat for such a small country, in just a few years. I put that largely down to our leader, and Mr. John Key, as I’d mentioned; is an ex-Forex Trader.

The Importance of  Good Leader
Leadership in any business is critical and having the right leader in charge is such an important aspect of any business. I believe really that running a country is no different than running a company, it’s just that the company is a very large one that happens to be called New Zealand. You still need to be in charge of people and in charge of economics and the politics that go on behind the scenes. So I just think that we’re extremely lucky to have such a f...]]>http://theforextradingcoach.com/?p=3896Sun, 02 Feb 2014 18:58:21 +0000Andrew MitchemPodcast: In this video: 00:31   Something that Forex Traders must be aware of 02:11   The New Zealand economy is looking strong 03:20   Important aspect of any business is to have a good leader 05:36   Free webinars every week Hi, it’s Andrew...
In this video:
00:31   Something that Forex Traders must be aware of
02:11   The New Zealand economy is looking strong
03:20   Important aspect of any business is to have a good leader
05:36   Free webinars every week
Hi, it’s Andrew Mitchem here the Forex Trading Coach, and in today’s video and podcast I want to talk about the state of the New Zealand economy and how it affects us as Forex Traders.
So let me share more with you right now!
The State of the New Zealand Economy
Hi, Andrew Mitchem here the Forex Trading Coach. Today is Friday, the 31st of January and that’s right I want to share some information with you about the New Zealand economy.  Obviously it’s something that is close to me, living in New Zealand, but it’s just something as Forex Traders to be aware of.  And I also want to relate that, to talk about our Prime Minister, Mr. John Key, who was an ex-Forex Trader. So you can see the story relates there to us as Forex Traders.
Well, obviously New Zealand’s a very small economy. But it’s actually one of the few countries and economies around the developed world that’s been through the recession, the recent recession, and has come out relatively unscathed. And it’s an amazing feat really when you consider the problems that the current government, the current National Government lead by John Key, faced when they took over from the Labor government.
You see they’d had huge budget deficits and we then had the Christchurch earthquake, which devastated the second largest city in New Zealand; and is still in recovery even today. Of course globally we’ve been through one of the biggest recessions since the 30’s. All that has been stacked against New Zealand when you consider that New Zealand is an export economy; relying on the export of most of our products that are made here, primarily agriculture goods. And all of that has occurred with the New Zealand dollar being at an historical very high level. So of course with the New Zealand being high, that’s actually bad for the exporters, because the amount of income that they produce is reduced, due to the increased value of the New Zealand dollar.
Likewise another one of New Zealand’s big industries is tourism, with many people wanting to come here to see the, all the amazing things that New Zealand has to offer. For people coming into New Zealand having the New Zealand dollar very high has meant that for them coming here, it means they actually get “less bang” for their buck; and they actually get less money coming into the country which makes it far more expensive to actually be here on holiday and to spend money here.
So two negatives there; in terms of bad news for the exporters and bad news for the tourism industry. However throughout all of that, the New Zealand economy has thrived. We've also just had some great news in terms of the employment statistics, the government now has the Country out of a budget deficit, which they promised to do when they first came into power. So putting all this together with the global recession and with the Christchurch earthquake it’s an amazing feat for such a small country, in just a few years. I put that largely down to our leader, and Mr. John Key, as I’d mentioned; is an ex-Forex Trader.

The Importance of  Good Leader
Leadership in any business is critical and having the right leader in charge is such an important aspect of any business. I believe really that running a country is no different than running a company, it’s just that the company is a very large one that happens to be called New Zealand. You still need to be in charge of people and in charge of economics and the politics that go on behind the scenes. So I just think that we’re extremely lucky to have such a f...]]>384falsefullhttps://www.spreaker.com/episode/forex-tips-and-advice-of-how-to-manage-your-stop-loss--12239849
In this video:
00:24   A good way to manage your stop losses
01:31   Stop loss base on a horizontal level
04:10   A Russian client made an incredible 4.7 to 1 risk to reward
06:26   A lot of strength in the GBP, Euro and Swiss Franc

Forex Tips and Advice of How to Manage Your Stop Loss
I want to give you some information, some tips and advice of how to manage your stop loss. Let me share more information with you right now.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 24th of January and on today’s video and podcast I want to explain about a good way to use your stop losses, so how to manage your stop loss when you’re in a trade. You see it’s a question I get asked quite a lot and I even had the same question arrive in my inbox this morning from someone just seeking some advice and say, “Hey Andrew can I use something like a Parabolic SAR or that’s the example he gave this morning or any other type of indicator to help manage the stop loss on a trade once the trade is open.
The problem with most indicators and the parabolic is no exception is that it tends to lag badly on the price and time. And you can’t really just use one indicator and rely on that dot on a chart to say this is where my stop needs to be or when it changes from below the price to above the price, this is where you know when I need to get out of the trade. That’s just not a good way of using or managing a trade.

A stop loss based on a horizonal level
What I suggest the people they do and my clients know this already is that I suggest you use a stop loss based on a horizontal level. Now that could be something like any type of support from resistance level so rather than just using an arbitrary figure like an indicator or like say 20 pips or 50 pips or whatever it might be that has no relevance to the timeframe of the chart or has no relevance to the currency pairs or the time of day and what I suggest you do is look for horizontal levels.
For instance if you were taking a buy position and your trade was in good profit. What you can do is move your stop loss. Let’s say you have your stop loss at the low of a setup candle. The trade moves into some fairly good profit but hasn’t reach the full profit target yet. What you can do is look for let’s say like the daily pivot point. Look  for the next swing low or previous swing low so you’re moving your stop loss up in gradual increments but based on technical levels of what’s been already respected by the price in the past.
You could move your stop loss up to below a round number so for instance if you are trading the EUR/USD, instead of putting your stop loss at say 1.3510 if you’re buying you were better off having your stop loss down below 1.3490; 1.3495 something like that down below a horizontal level such as a round number and I’m calling round numbers anything ends in 00 or 50. If the price tends to move up you could then move your stop loss up to just below the 50 level or it keeps going and you still haven’t reach your profit target up below the next 00.
If you’re in a shorter timeframe charts you could be looking for swing lows or previous bounce levels, things like that. That’s going to give you a lot better protective stop loss in place that allows the trade to go through and hit your hit full profit target and without coming back and taking you out to a stop too often. So that would be my advice there.
4.7:1 reward:risk trade on the 1 hour charts
I held a live webinar for my clients yesterday. We had a full room again. Just a fantastic webinar, lots and lots of live trade examples between trades that I took myself  and trades that clients had open or took live during the session.]]>http://theforextradingcoach.com/?p=3880Sat, 25 Jan 2014 21:35:39 +0000Andrew MitchemPodcast: In this video: 00:24   A good way to manage your stop losses 01:31   Stop loss base on a horizontal level 04:10   A Russian client made an incredible 4.7 to 1 risk to reward 06:26   A lot of strength in the GBP, Euro and Swiss Franc...
In this video:
00:24   A good way to manage your stop losses
01:31   Stop loss base on a horizontal level
04:10   A Russian client made an incredible 4.7 to 1 risk to reward
06:26   A lot of strength in the GBP, Euro and Swiss Franc

Forex Tips and Advice of How to Manage Your Stop Loss
I want to give you some information, some tips and advice of how to manage your stop loss. Let me share more information with you right now.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 24th of January and on today’s video and podcast I want to explain about a good way to use your stop losses, so how to manage your stop loss when you’re in a trade. You see it’s a question I get asked quite a lot and I even had the same question arrive in my inbox this morning from someone just seeking some advice and say, “Hey Andrew can I use something like a Parabolic SAR or that’s the example he gave this morning or any other type of indicator to help manage the stop loss on a trade once the trade is open.
The problem with most indicators and the parabolic is no exception is that it tends to lag badly on the price and time. And you can’t really just use one indicator and rely on that dot on a chart to say this is where my stop needs to be or when it changes from below the price to above the price, this is where you know when I need to get out of the trade. That’s just not a good way of using or managing a trade.

A stop loss based on a horizonal level
What I suggest the people they do and my clients know this already is that I suggest you use a stop loss based on a horizontal level. Now that could be something like any type of support from resistance level so rather than just using an arbitrary figure like an indicator or like say 20 pips or 50 pips or whatever it might be that has no relevance to the timeframe of the chart or has no relevance to the currency pairs or the time of day and what I suggest you do is look for horizontal levels.
For instance if you were taking a buy position and your trade was in good profit. What you can do is move your stop loss. Let’s say you have your stop loss at the low of a setup candle. The trade moves into some fairly good profit but hasn’t reach the full profit target yet. What you can do is look for let’s say like the daily pivot point. Look  for the next swing low or previous swing low so you’re moving your stop loss up in gradual increments but based on technical levels of what’s been already respected by the price in the past.
You could move your stop loss up to below a round number so for instance if you are trading the EUR/USD, instead of putting your stop loss at say 1.3510 if you’re buying you were better off having your stop loss down below 1.3490; 1.3495 something like that down below a horizontal level such as a round number and I’m calling round numbers anything ends in 00 or 50. If the price tends to move up you could then move your stop loss up to just below the 50 level or it keeps going and you still haven’t reach your profit target up below the next 00.
If you’re in a shorter timeframe charts you could be looking for swing lows or previous bounce levels, things like that. That’s going to give you a lot better protective stop loss in place that allows the trade to go through and hit your hit full profit target and without coming back and taking you out to a stop too often. So that would be my advice there.
4.7:1 reward:risk trade on the 1 hour charts
I held a live webinar for my clients yesterday. We had a full room again. Just a fantastic webinar, lots and lots of live trade examples between trades that I took myself  and trades that clients had open or took live during the session.]]>510falsefullhttps://www.spreaker.com/episode/the-importance-of-reading-technical-charts-for-your-forex-trading-success--12239847
In this video:
00:37   Having a good trading plan in place
01:57   USD has been relatively strong all week
03:25   New e-book released this week
04:19   Get the free lot size calculator from my site
In today’s video I wanted to tell you why reading the charts, the technical charts are so important to your trading success. Let me share more information with you right now.

Have a good trading plan in place for 2014
Hi again, its Andrew Mitchem here the Forex Trading Coach. Welcome back to the first video and podcast for 2014. I hope you had a fantastic Christmas and New Year’s break. Now that the markets are back into action it’s just a great time to get back into your trading again. I want to talk about technical trading shortly, but first of all now we are into the New Year and I also want to just talk about making sure that you have a good trading plan in place to start a New Year afresh. So what I mean by that is make sure you understand, number one your strategy but make sure you have a plan of when you are going to trade. What days of the week, what times of the day, what currency pairs, what types of set ups, where your profits are, where your stops are and so have a realistic goal in place and something you can focus on that is going to aid your trading heading into this year. What you don’t want to do is to get to that mid-year and then suddenly find that you are sort of randomly taking trades here and there without any real plan in place so make sure you do that right from the beginning of the year.

USD strength this week
I also want to talk about technical trading. On Friday last week we had very bad employment data of the US. The non-farm of payrolls were really bad but then heading into this week, and today being Friday so a week later, on most of the pairs what we have seen is the US actually strengthen. So it goes to show why you need to be looking at your charts. Yes it’s great to have a fundamental view in some respects but it does become an opinion whereas the charts tell you what is actually happening right now what in the market. You see so the non-farm payrolls were bad the US has being relatively strong all week.
I’ve been calling weak Australian dollar trades on Wednesday, Thursday and today, Friday and so a day before the employment data of Australia I was already calling short positions so Wednesday I was calling short positions and Thursday before the news came out or well before the news came out I was also calling short positions and the Australian unemployment figures came out really badly as well and so the Australian dollar continued to crash about a 300 pip drop from its peak but having that technical knowledge a day and a half prior to the news I was already calling looking for short positions on the Aussie dollar. In the end that came through also in the technical, the technical came through and fundamentals followed it but technical show well in advance what the outcome of the Australian employment data was likely to be.
We’ve also seen the New Zealand dollar peak at around the 0.84 level so its hit the 0.84 resistance level a touch over but it stalled at that level and currently it’s been falling and I’ve been calling short positions on the New Zealand against the US for the last couple of days and right behind me here its continuing to fall. So be really mindful there of keeping a good eye on what is happening on the charts technically.

My new E-Book has been released
Another thing I want to mention is my new e-book that’s been released. It’s been released this week and I’m releasing one chapter at a time so one chapter per week. The book is called “From Dairy Farmer to Forex Trader” and it’s my story about my For...]]>http://theforextradingcoach.com/?p=3868Sun, 19 Jan 2014 08:19:45 +0000Andrew MitchemPodcast: In this video: 00:37   Having a good trading plan in place 01:57   USD has been relatively strong all week 03:25   New e-book released this week 04:19   Get the free lot size calculator from my site In today’s video I wanted to tell you...
In this video:
00:37   Having a good trading plan in place
01:57   USD has been relatively strong all week
03:25   New e-book released this week
04:19   Get the free lot size calculator from my site
In today’s video I wanted to tell you why reading the charts, the technical charts are so important to your trading success. Let me share more information with you right now.

Have a good trading plan in place for 2014
Hi again, its Andrew Mitchem here the Forex Trading Coach. Welcome back to the first video and podcast for 2014. I hope you had a fantastic Christmas and New Year’s break. Now that the markets are back into action it’s just a great time to get back into your trading again. I want to talk about technical trading shortly, but first of all now we are into the New Year and I also want to just talk about making sure that you have a good trading plan in place to start a New Year afresh. So what I mean by that is make sure you understand, number one your strategy but make sure you have a plan of when you are going to trade. What days of the week, what times of the day, what currency pairs, what types of set ups, where your profits are, where your stops are and so have a realistic goal in place and something you can focus on that is going to aid your trading heading into this year. What you don’t want to do is to get to that mid-year and then suddenly find that you are sort of randomly taking trades here and there without any real plan in place so make sure you do that right from the beginning of the year.

USD strength this week
I also want to talk about technical trading. On Friday last week we had very bad employment data of the US. The non-farm of payrolls were really bad but then heading into this week, and today being Friday so a week later, on most of the pairs what we have seen is the US actually strengthen. So it goes to show why you need to be looking at your charts. Yes it’s great to have a fundamental view in some respects but it does become an opinion whereas the charts tell you what is actually happening right now what in the market. You see so the non-farm payrolls were bad the US has being relatively strong all week.
I’ve been calling weak Australian dollar trades on Wednesday, Thursday and today, Friday and so a day before the employment data of Australia I was already calling short positions so Wednesday I was calling short positions and Thursday before the news came out or well before the news came out I was also calling short positions and the Australian unemployment figures came out really badly as well and so the Australian dollar continued to crash about a 300 pip drop from its peak but having that technical knowledge a day and a half prior to the news I was already calling looking for short positions on the Aussie dollar. In the end that came through also in the technical, the technical came through and fundamentals followed it but technical show well in advance what the outcome of the Australian employment data was likely to be.
We’ve also seen the New Zealand dollar peak at around the 0.84 level so its hit the 0.84 resistance level a touch over but it stalled at that level and currently it’s been falling and I’ve been calling short positions on the New Zealand against the US for the last couple of days and right behind me here its continuing to fall. So be really mindful there of keeping a good eye on what is happening on the charts technically.

My new E-Book has been released
Another thing I want to mention is my new e-book that’s been released. It’s been released this week and I’m releasing one chapter at a time so one chapter per week. The book is called “From Dairy Farmer to Forex Trader” and it’s my story about my For...]]>289falsefullhttps://www.spreaker.com/episode/setting-your-trading-goals-for-2014--12239848
In this video:
00:50   How you can progress with your trading goals heading into 2014
02:36   How many trades are you going to take per day or per week
04:30   Creating a trading plan
06:07   Good technical analysis
 
Let’s talk about your trading goals for 2014. Do you have any in place? If you do have fantastic but if you don’t let’s talk about some ideas right now. 
Hi traders! Andrew Mitchem here, the Forex Trading Coach. Today is Friday the 13th of December so hoped you’re not too superstitious for that.
Trading Goals for 2014
Well as we head towards the end of the year in terms of the trading year we’re seeing some quite of movement on the charts mostly due to the lower volumes that are going through the market right now. So actually it’s really a good time of the year to actually spend over the next couple of weeks some time to reflect on what you’ve done good and bad this year and also how you can progress with your trading heading into 2014.
I’ve made a list here that I’d like to just run through with you that’s just going to give you some helpful hints and some tips about what you should maybe look for on your trading plan and your trading goals for 2014.

How much time do you want to spend on your trading
So start with, for example how much time you want to spend on your trading? How much time can you dedicate? How much time would you like to dedicate to trading? You don’t need to be spending like hours and hours every day but and also the more time you trade does not always mean the more money you make. But just write down how much time do you want to spend or can you spend trading each day.
What time of the day suits you to trade in terms of what works with your job if you’re working, with your family, with any the other social activities you might do. What days of the week suit you best? What times of the day suit you best to trade? What currency pairs do you like trading? Do you look at order pairs that your broker offers or do you concentrate on just the major pairs or maybe you’ve got one or two minor pairs that your favorite. So write those down.
Are you going to be trading only in the direction of the longer term trend or only in the direction of the daily trend using the strength and weakness analysis that I publish each day. Is that going to be something that’s going to aid you? For today, if you’re looking for Australian Dollar/ US to fall like I am today, am I only going to be taking trades on the four hour charts, one hour charts, fifteen minute charts in short positions only and ignoring all buy positions. Write that down if that’s a rule for you.

What are your trading Goals?
How many trades are you going to look to take per day or per week? What happens if you reach that limit? Let’s say your goal was to take no more than five trades in a day and you’ve taken five and you see really good setup? What are you going to do? Are you going to take it? Are you going to leave it?
What performance goals are you going to set yourself per day or per week? Let’s say that your goal is to make 2% per week and let’s say by Wednesday you’ve achieved over 2% and you see a really good setup. Are you going to take that or not? So you need to have these rules set in place. So what it would do by having that plan under those rules in place it will help eliminate the like sort of trigger reactions and the emotional reactions when you’re there taking trades live.
Will you close out trades at the end of the day? Will you close out trades at the end of the week? Will you close out trades only on reversal signals or are you going to employ a 100% set and forget approac...]]>http://theforextradingcoach.com/?p=3826Sun, 15 Dec 2013 09:24:26 +0000Andrew MitchemPodcast: In this video: 00:50   How you can progress with your trading goals heading into 2014 02:36   How many trades are you going to take per day or per week 04:30   Creating a trading plan 06:07   Good technical analysis   Let’s talk about...
In this video:
00:50   How you can progress with your trading goals heading into 2014
02:36   How many trades are you going to take per day or per week
04:30   Creating a trading plan
06:07   Good technical analysis
 
Let’s talk about your trading goals for 2014. Do you have any in place? If you do have fantastic but if you don’t let’s talk about some ideas right now. 
Hi traders! Andrew Mitchem here, the Forex Trading Coach. Today is Friday the 13th of December so hoped you’re not too superstitious for that.
Trading Goals for 2014
Well as we head towards the end of the year in terms of the trading year we’re seeing some quite of movement on the charts mostly due to the lower volumes that are going through the market right now. So actually it’s really a good time of the year to actually spend over the next couple of weeks some time to reflect on what you’ve done good and bad this year and also how you can progress with your trading heading into 2014.
I’ve made a list here that I’d like to just run through with you that’s just going to give you some helpful hints and some tips about what you should maybe look for on your trading plan and your trading goals for 2014.

How much time do you want to spend on your trading
So start with, for example how much time you want to spend on your trading? How much time can you dedicate? How much time would you like to dedicate to trading? You don’t need to be spending like hours and hours every day but and also the more time you trade does not always mean the more money you make. But just write down how much time do you want to spend or can you spend trading each day.
What time of the day suits you to trade in terms of what works with your job if you’re working, with your family, with any the other social activities you might do. What days of the week suit you best? What times of the day suit you best to trade? What currency pairs do you like trading? Do you look at order pairs that your broker offers or do you concentrate on just the major pairs or maybe you’ve got one or two minor pairs that your favorite. So write those down.
Are you going to be trading only in the direction of the longer term trend or only in the direction of the daily trend using the strength and weakness analysis that I publish each day. Is that going to be something that’s going to aid you? For today, if you’re looking for Australian Dollar/ US to fall like I am today, am I only going to be taking trades on the four hour charts, one hour charts, fifteen minute charts in short positions only and ignoring all buy positions. Write that down if that’s a rule for you.

What are your trading Goals?
How many trades are you going to look to take per day or per week? What happens if you reach that limit? Let’s say your goal was to take no more than five trades in a day and you’ve taken five and you see really good setup? What are you going to do? Are you going to take it? Are you going to leave it?
What performance goals are you going to set yourself per day or per week? Let’s say that your goal is to make 2% per week and let’s say by Wednesday you’ve achieved over 2% and you see a really good setup. Are you going to take that or not? So you need to have these rules set in place. So what it would do by having that plan under those rules in place it will help eliminate the like sort of trigger reactions and the emotional reactions when you’re there taking trades live.
Will you close out trades at the end of the day? Will you close out trades at the end of the week? Will you close out trades only on reversal signals or are you going to employ a 100% set and forget approac...]]>430falsefullhttps://www.spreaker.com/episode/why-high-risk-reward-trades-are-so-important-for-your-long-term-forex-success--12239850
In this video:
00:31  Trading the daily charts again
02:23  10/15 four hourly trades hit full profit last week
03:26  Setting your profit target based on a technical level
06:00  The importance of being a longer term thinker in trading

The importance of risk to reward to ensure your success as a Forex Trader
In today’s video I want to talk all about the importance of risk to reward and to ensure that you understand how important that really is to ensure your long term profitability as a Forex trader. Let me share more with you right now.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Today is Thursday the 5th of December and I’m here in beautiful Queenstown in the South Island as you can see from the glorious scenery behind me.
This week I’ve been trading back to just the daily charts again and the four hourly charts and it’s a great thing to be able to trade those longer timeframe charts but it’s also important to understand that with them you generally have yourself a high risk to reward than you do on a shorter timeframe charts generally because the stop losses are slightly bigger due to the technical level it needs to be. The profit target is also bigger. And I find that in general on the one day charts, the daily charts, my risk to reward is somewhere between around the 2.5 to 3.5 risk to reward.
I’ll give you an example. A couple of days ago I’ve had a couple of trades selling on the daily charts on the AUD /NZD. The market order made exactly a 3 to 1 risk to reward and the retracement order made a 2.6 to 1 risk to reward. So two excellent trades there. If you took 1% risk on each of those that was a 1.5% gain on the market order and a 1.3% gain on the retracement order. That’s if you took 1% on each of those two trades. Personally I trade half a percent risk and I trade a quarter of 1% on each of those two positions but still a great result.
Four hour chart trades also have very high risk to rewards due to also the large stop loss and the large profit target but don’t forget you can’t take those because don’t forget the way that I trade, and the way that I encourage people to trade is we don’t worry about how many pips we make. Each trade has an equal account percentage risk so don’t get worried and concern that you can’t trade these longer timeframe charts because you see the stop loss and pip has been too big, it really does not matter.

4 Hour chart results: 10 out of 15 profitable trades
When you’re wondering why you’re here sitting and watching charts all day when I can trade daily charts and occasionally four hourly charts. Last week for instance I took 15 trades on the four hourly charts during last week and I had 10 of them hit full profit and 5 of them were stopped out. The ones that hit full profit averaged around a 1.7 to 1 risk to reward over the 10 profitable trades. You can see how you can make some excellent trades but without being glued to the screen all day.
Yesterday I had a GBP/CAD buy trade and made a 1.6 to 1 risk to reward so with the half percent risk that it still a 0.8% on my account just on one trade just yesterday so you just see what can be achieved there by having the risk to reward in your favor. Generally the shorter the timeframe the smaller the risk to reward but personally I wouldn’t go in anything under 1 to 1 risk to reward. I like to have about a 1.5 risk to reward as a minimum but sometimes it’s slightly smaller but generally not too much.

Important to set your stop loss and profit target at a sound technical level
It’s important also to see your stop loss based on a technical level and set your profit target based on a technical level. You just don’t suddenly say well I’m putting a 50 pip stop loss therefore I have to pull a hundred pip profit target.]]>http://theforextradingcoach.com/?p=3814Sat, 07 Dec 2013 09:14:26 +0000Andrew MitchemPodcast: In this video: 00:31  Trading the daily charts again 02:23  10/15 four hourly trades hit full profit last week 03:26  Setting your profit target based on a technical level 06:00  The importance of being a longer term thinker in trading...
In this video:
00:31  Trading the daily charts again
02:23  10/15 four hourly trades hit full profit last week
03:26  Setting your profit target based on a technical level
06:00  The importance of being a longer term thinker in trading

The importance of risk to reward to ensure your success as a Forex Trader
In today’s video I want to talk all about the importance of risk to reward and to ensure that you understand how important that really is to ensure your long term profitability as a Forex trader. Let me share more with you right now.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Today is Thursday the 5th of December and I’m here in beautiful Queenstown in the South Island as you can see from the glorious scenery behind me.
This week I’ve been trading back to just the daily charts again and the four hourly charts and it’s a great thing to be able to trade those longer timeframe charts but it’s also important to understand that with them you generally have yourself a high risk to reward than you do on a shorter timeframe charts generally because the stop losses are slightly bigger due to the technical level it needs to be. The profit target is also bigger. And I find that in general on the one day charts, the daily charts, my risk to reward is somewhere between around the 2.5 to 3.5 risk to reward.
I’ll give you an example. A couple of days ago I’ve had a couple of trades selling on the daily charts on the AUD /NZD. The market order made exactly a 3 to 1 risk to reward and the retracement order made a 2.6 to 1 risk to reward. So two excellent trades there. If you took 1% risk on each of those that was a 1.5% gain on the market order and a 1.3% gain on the retracement order. That’s if you took 1% on each of those two trades. Personally I trade half a percent risk and I trade a quarter of 1% on each of those two positions but still a great result.
Four hour chart trades also have very high risk to rewards due to also the large stop loss and the large profit target but don’t forget you can’t take those because don’t forget the way that I trade, and the way that I encourage people to trade is we don’t worry about how many pips we make. Each trade has an equal account percentage risk so don’t get worried and concern that you can’t trade these longer timeframe charts because you see the stop loss and pip has been too big, it really does not matter.

4 Hour chart results: 10 out of 15 profitable trades
When you’re wondering why you’re here sitting and watching charts all day when I can trade daily charts and occasionally four hourly charts. Last week for instance I took 15 trades on the four hourly charts during last week and I had 10 of them hit full profit and 5 of them were stopped out. The ones that hit full profit averaged around a 1.7 to 1 risk to reward over the 10 profitable trades. You can see how you can make some excellent trades but without being glued to the screen all day.
Yesterday I had a GBP/CAD buy trade and made a 1.6 to 1 risk to reward so with the half percent risk that it still a 0.8% on my account just on one trade just yesterday so you just see what can be achieved there by having the risk to reward in your favor. Generally the shorter the timeframe the smaller the risk to reward but personally I wouldn’t go in anything under 1 to 1 risk to reward. I like to have about a 1.5 risk to reward as a minimum but sometimes it’s slightly smaller but generally not too much.

Important to set your stop loss and profit target at a sound technical level
It’s important also to see your stop loss based on a technical level and set your profit target based on a technical level. You just don’t suddenly say well I’m putting a 50 pip stop loss therefore I have to pull a hundred pip profit target.]]>450falsefullhttps://www.spreaker.com/episode/a-conversation-on-a-plane-and-how-that-relates-to-forex-trading--12239851
In this video:
00:34  A funny story from a business trip
02:14  Two trades on the one minute charts worked well this week
02:50  Learning different approaches to trading
04:17  Had thanksgiving in the States
How much do you really know about Forex Trading?
In today’s video and podcast, I want to talk to you about those small islands called Eastern Australia, better known as New Zealand to most people. I’ve got a funny story to tell you, and also how that relates to Forex trading and how it can really help you.
So let me tell you more right now.
Hi, Andrew Michem here, the Forex Trading Coach, today is Friday the 29th of November.  And that’s right I want to talk about New Zealand, some people think of it as Eastern Australia, and how that can affect your trading.  A bit of a funny story coming up, and I’ll explain more right now.
Well, I was on a flight last week between Honolulu and Kauaii, and I was sitting next to a gentleman from Texas.  And he said “Are you from Australia?” and I said “No I’m from New Zealand.”  He goes “I’ve been there years ago to Perth,” and I said “No that’s a long way away, that’s a different place.  It’s in Australia I’m in New Zealand.”  And we then carry on talking and a little bit later he said “You’ve got those terrible forest fires, in Sydney.”  And I said, “No that’s in Australia.  It’s a different country.  I’m in New Zealand, a three and a half hour flight away.”  And it got me thinking, because this guy was sure that Australia and New Zealand was all the same thing, and you know, so in his mind it was.  And I kept saying “No Australia,” so I kept saying “No I’m in New Zealand” and he kept saying “Well that’s Australia.”  – two completely different places.
So how does it relate to trading?  Well quite a way, quite a number of ways really.  When you think about it, you know we, we become sort of thinking along the same lines all the time, what you read, what you hear.  And a lot of people come to me, and they say Andrew ,you know, I’ve done this and this in my trading, and I’m really experienced I’ve been trading for a long time, but I’m still not making any money.  When you analyse that in a little bit more detail, you realise that they, what they think they know is not probably as much as you know what they think they know.  And it’s to say that everybody can learn, and you can never stop learning in this market.  

Trades on the 1 minute charts – not me – really!
You know, and I’ll give an example for myself.  I just last night my time, I took two trades on the one minute charts on a live webinar in front of clients.  And they both worked, they worked fantastically well.  One made about a 1.7 risk to reward, the other I think was about a 1.3 or 1.4.  But both worked really well.  Now if you had said to me or spoke to me about a year ago, and said “Andrew, do you trade one minute charts?” I would have said, “No never, don’t be so stupid, I don’t go anywhere near that short time frame.”  But when we were looking, there was a really good pull backs, and one minute charts had some really nice bounce levels.  Took the trades, both worked as I said. 
So everybody has to learn different approaches and learn to adapt, if it suits you.  Likewise, I’ve got a lot of people that come to me and say, “Look Andrew I’ve been trading, scalping the market, or trading used, whatever it might be, but I’m still not successful, can you help me?”  And after a while, when they’ve taken my course they’ll go, “Hey Andrew, I really do like those four-hour charts, or those daily charts,]]>http://theforextradingcoach.com/?p=3802Sat, 30 Nov 2013 18:59:09 +0000Andrew MitchemPodcast: In this video: 00:34  A funny story from a business trip 02:14  Two trades on the one minute charts worked well this week 02:50  Learning different approaches to trading 04:17  Had thanksgiving in the States How much do you really know...
In this video:
00:34  A funny story from a business trip
02:14  Two trades on the one minute charts worked well this week
02:50  Learning different approaches to trading
04:17  Had thanksgiving in the States
How much do you really know about Forex Trading?
In today’s video and podcast, I want to talk to you about those small islands called Eastern Australia, better known as New Zealand to most people. I’ve got a funny story to tell you, and also how that relates to Forex trading and how it can really help you.
So let me tell you more right now.
Hi, Andrew Michem here, the Forex Trading Coach, today is Friday the 29th of November.  And that’s right I want to talk about New Zealand, some people think of it as Eastern Australia, and how that can affect your trading.  A bit of a funny story coming up, and I’ll explain more right now.
Well, I was on a flight last week between Honolulu and Kauaii, and I was sitting next to a gentleman from Texas.  And he said “Are you from Australia?” and I said “No I’m from New Zealand.”  He goes “I’ve been there years ago to Perth,” and I said “No that’s a long way away, that’s a different place.  It’s in Australia I’m in New Zealand.”  And we then carry on talking and a little bit later he said “You’ve got those terrible forest fires, in Sydney.”  And I said, “No that’s in Australia.  It’s a different country.  I’m in New Zealand, a three and a half hour flight away.”  And it got me thinking, because this guy was sure that Australia and New Zealand was all the same thing, and you know, so in his mind it was.  And I kept saying “No Australia,” so I kept saying “No I’m in New Zealand” and he kept saying “Well that’s Australia.”  – two completely different places.
So how does it relate to trading?  Well quite a way, quite a number of ways really.  When you think about it, you know we, we become sort of thinking along the same lines all the time, what you read, what you hear.  And a lot of people come to me, and they say Andrew ,you know, I’ve done this and this in my trading, and I’m really experienced I’ve been trading for a long time, but I’m still not making any money.  When you analyse that in a little bit more detail, you realise that they, what they think they know is not probably as much as you know what they think they know.  And it’s to say that everybody can learn, and you can never stop learning in this market.  

Trades on the 1 minute charts – not me – really!
You know, and I’ll give an example for myself.  I just last night my time, I took two trades on the one minute charts on a live webinar in front of clients.  And they both worked, they worked fantastically well.  One made about a 1.7 risk to reward, the other I think was about a 1.3 or 1.4.  But both worked really well.  Now if you had said to me or spoke to me about a year ago, and said “Andrew, do you trade one minute charts?” I would have said, “No never, don’t be so stupid, I don’t go anywhere near that short time frame.”  But when we were looking, there was a really good pull backs, and one minute charts had some really nice bounce levels.  Took the trades, both worked as I said. 
So everybody has to learn different approaches and learn to adapt, if it suits you.  Likewise, I’ve got a lot of people that come to me and say, “Look Andrew I’ve been trading, scalping the market, or trading used, whatever it might be, but I’m still not successful, can you help me?”  And after a while, when they’ve taken my course they’ll go, “Hey Andrew, I really do like those four-hour charts, or those daily charts,]]>345falsefullhttps://www.spreaker.com/episode/trading-the-daily-charts-when-on-holiday-or-at-work--12239852
In this week’s video with Andrew Mitchem in Honolulu, Hawaii achieving great results on the daily charts despite business meetings. 
In this video:
00:29   Trading just the daily charts
00:44   What can be achieved by just trading once a day
01:07   Enjoying the glorious beaches around Hawaii
Trading Forex on the Daily Charts when on Holiday or at Work
Well this week, I’m back trading the daily charts from beautiful Honolulu. Let me tell you why right now.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach, and today I’m in beautiful Hawaii, at Waikiki actually just outside Honolulu. That’s right, today and all this week, been over here, I’ve been at business meetings, but I’ve actually been trading just the daily charts. And the daily charts have just had some fantastic results again. And I’ve talked about this a little while ago, I want to go back and reiterate it again.
You remember back in May I was trading daily charts, just the dailies, when I was over in India. And it just shows what can be achieved by just trading just once a day. And if you can’t trade everyday that’s fine also.

Trading Short on the Australian and New Zealand Dollar
I’ve taken some fantastic trades looking at –well yesterday I shorted the AUD/USD and the NZD/USD and took a buy trade on the GBP/AUD –all work fantastically well, and all took me less than 15 minutes to set up and trade. And that was it. And the rest of the time I’ve either been at meetings or enjoying the glorious beaches behind here and traveling around Hawaii.
It’s really important to understand that you don’t need to be trading real short time frame charts all the time. We’ve been talking about one and five minute charts here recently. This week of course, I’ve been here; I don’t want to be sitting watching five minute charts going back to that longer time frame. Percentage wise you can still do extremely well being up just over 4% on the week being here.
It’s really important to get back in that again, that mindset. Like I said, the Aussie and the Kiwi have been weakening pound and the US has been strengthening.
That’s all for now look forward to talking to you this time next week and I’ll be back in New Zealand again.
Bye for now.]]>http://theforextradingcoach.com/?p=3789Sun, 24 Nov 2013 18:47:52 +0000Andrew MitchemPodcast: In this week’s video with Andrew Mitchem in Honolulu, Hawaii achieving great results on the daily charts despite business meetings.  In this video: 00:29   Trading just the daily charts 00:44   What can be achieved by just trading once a...
In this week’s video with Andrew Mitchem in Honolulu, Hawaii achieving great results on the daily charts despite business meetings. 
In this video:
00:29   Trading just the daily charts
00:44   What can be achieved by just trading once a day
01:07   Enjoying the glorious beaches around Hawaii
Trading Forex on the Daily Charts when on Holiday or at Work
Well this week, I’m back trading the daily charts from beautiful Honolulu. Let me tell you why right now.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach, and today I’m in beautiful Hawaii, at Waikiki actually just outside Honolulu. That’s right, today and all this week, been over here, I’ve been at business meetings, but I’ve actually been trading just the daily charts. And the daily charts have just had some fantastic results again. And I’ve talked about this a little while ago, I want to go back and reiterate it again.
You remember back in May I was trading daily charts, just the dailies, when I was over in India. And it just shows what can be achieved by just trading just once a day. And if you can’t trade everyday that’s fine also.

Trading Short on the Australian and New Zealand Dollar
I’ve taken some fantastic trades looking at –well yesterday I shorted the AUD/USD and the NZD/USD and took a buy trade on the GBP/AUD –all work fantastically well, and all took me less than 15 minutes to set up and trade. And that was it. And the rest of the time I’ve either been at meetings or enjoying the glorious beaches behind here and traveling around Hawaii.
It’s really important to understand that you don’t need to be trading real short time frame charts all the time. We’ve been talking about one and five minute charts here recently. This week of course, I’ve been here; I don’t want to be sitting watching five minute charts going back to that longer time frame. Percentage wise you can still do extremely well being up just over 4% on the week being here.
It’s really important to get back in that again, that mindset. Like I said, the Aussie and the Kiwi have been weakening pound and the US has been strengthening.
That’s all for now look forward to talking to you this time next week and I’ll be back in New Zealand again.
Bye for now.]]>117falsefullhttps://www.spreaker.com/episode/forex-trading-results-what-everyone-is-after--12239854
 
Forex Trading Results – What everyone is after
In this video:
00:22 How to get great results in trading
01:09 Really good week on the daily charts
02:26 Clients who have made great results in trading
04:28 Getting control over finances
05:48 Strength in the GBP and USD
Today I want to share with you some information about results, because at the end of the day that’s what everybody is after in their trading – its results. 
Let’s talk about that right now. 
Hi, it’s Andrew Mitchem here from the Forex  Trading Coach. Today is Friday the 15th of November and I want to talk about results because everything else in trading you can have all the interests you like everything else it doesn’t really matter unless you’re achieving results and that’s one thing I’ve seen as a coach that’s really important for me to not only achieve great results myself, but also to ensure that my clients achieve great results and if it’s something you would like me to help you with I am more than happy to do so. 
But it’s something that of course that that’s what everybody gets into trading for is to achieve great results and percentage returns on their accounts and make some money. Whether you want  to completely replace your existing income or make more income, or whatever it might be, passive income. It’s all about results and that’s what makes my course different.  
Just to give you some examples, it’s been a really good week for me this week on the daily charts. Every trade I’ve taken has hit full profit. I’ve made 3.5% on the daily charts with half of a percent risk on each trade. I’ve made 1.1% on the 4 hourly charts. I’ve made 1.8% on the 1 hourly charts. I’ve lost a quarter of one percent on the 5 minute charts and I’ve made one and a half percent on a break out system that I use just once a week. So all up and I still have all of Friday to go so the first 4 days of this week that is +7.65% account gain but with very, very low risk. That is the important thing also. It’s all well and good to have a 7.5, 7.65% account gain but if you’re risking sort of 3 or 4 percent per trade it’s not really quite such a good result but I’m risking only half of 1%. So 7.65% in the first 4 days of this week and we still have Friday to go so a great result. 
But I held a live webinar for my clients last night and we took some trades on that and some trades made profit and others lost and that’s the way trading goes but just some really good information, valuable information with live trades taken in front of people. I had a client on that webinar, Richard, who said that he made, and he shared with us the trade; one trade on the 4 hourly chart on the GBP and JPY and it was in the direction of what I was anticipating the pound to go yesterday which was upwards. He made a 4.5 to 1 risk to reward trade. He took a quarter of 1% risk on that trade. So just a 0% to 5% risk and he made 1.125% return on his account. Richard, I think he is over in the UK, so that’s more, a bigger gain, 1.1% on his account in one trade just in an hourly chart and it made it under an hour and made full profit in under one bar. Then his bank will pay him in an entire year so it just shows what can be achieved. 4.5 to 1 risk to reward. It was about an 11 or 12 pip stop for about a 50 something pip profit. Really good trade and hit full profit straightaway so thanks for sharing that on the webinar yesterday Richard! 
Had an email this morning from Gary up in Auckland not far from me here. Gary said he made 2.5% yesterday just in the day. Had another email yesterday from Claire down in Clashaire she made over 2% last week so people making money consistently. That is the important thing and like I said in the beginning it’s the results that count. What I’m really keen on passing on is that you know you c...]]>http://theforextradingcoach.com/?p=3787Mon, 18 Nov 2013 05:42:46 +0000Andrew MitchemPodcast:   Forex Trading Results – What everyone is after In this video: 00:22 How to get great results in trading 01:09 Really good week on the daily charts 02:26 Clients who have made great results in trading 04:28 Getting control over finances...
 
Forex Trading Results – What everyone is after
In this video:
00:22 How to get great results in trading
01:09 Really good week on the daily charts
02:26 Clients who have made great results in trading
04:28 Getting control over finances
05:48 Strength in the GBP and USD
Today I want to share with you some information about results, because at the end of the day that’s what everybody is after in their trading – its results. 
Let’s talk about that right now. 
Hi, it’s Andrew Mitchem here from the Forex  Trading Coach. Today is Friday the 15th of November and I want to talk about results because everything else in trading you can have all the interests you like everything else it doesn’t really matter unless you’re achieving results and that’s one thing I’ve seen as a coach that’s really important for me to not only achieve great results myself, but also to ensure that my clients achieve great results and if it’s something you would like me to help you with I am more than happy to do so. 
But it’s something that of course that that’s what everybody gets into trading for is to achieve great results and percentage returns on their accounts and make some money. Whether you want  to completely replace your existing income or make more income, or whatever it might be, passive income. It’s all about results and that’s what makes my course different.  
Just to give you some examples, it’s been a really good week for me this week on the daily charts. Every trade I’ve taken has hit full profit. I’ve made 3.5% on the daily charts with half of a percent risk on each trade. I’ve made 1.1% on the 4 hourly charts. I’ve made 1.8% on the 1 hourly charts. I’ve lost a quarter of one percent on the 5 minute charts and I’ve made one and a half percent on a break out system that I use just once a week. So all up and I still have all of Friday to go so the first 4 days of this week that is +7.65% account gain but with very, very low risk. That is the important thing also. It’s all well and good to have a 7.5, 7.65% account gain but if you’re risking sort of 3 or 4 percent per trade it’s not really quite such a good result but I’m risking only half of 1%. So 7.65% in the first 4 days of this week and we still have Friday to go so a great result. 
But I held a live webinar for my clients last night and we took some trades on that and some trades made profit and others lost and that’s the way trading goes but just some really good information, valuable information with live trades taken in front of people. I had a client on that webinar, Richard, who said that he made, and he shared with us the trade; one trade on the 4 hourly chart on the GBP and JPY and it was in the direction of what I was anticipating the pound to go yesterday which was upwards. He made a 4.5 to 1 risk to reward trade. He took a quarter of 1% risk on that trade. So just a 0% to 5% risk and he made 1.125% return on his account. Richard, I think he is over in the UK, so that’s more, a bigger gain, 1.1% on his account in one trade just in an hourly chart and it made it under an hour and made full profit in under one bar. Then his bank will pay him in an entire year so it just shows what can be achieved. 4.5 to 1 risk to reward. It was about an 11 or 12 pip stop for about a 50 something pip profit. Really good trade and hit full profit straightaway so thanks for sharing that on the webinar yesterday Richard! 
Had an email this morning from Gary up in Auckland not far from me here. Gary said he made 2.5% yesterday just in the day. Had another email yesterday from Claire down in Clashaire she made over 2% last week so people making money consistently. That is the important thing and like I said in the beginning it’s the results that count. What I’m really keen on passing on is that you know you c...]]>395falsefullhttps://www.spreaker.com/episode/how-much-do-you-really-want-to-be-a-forex-trader--12239856
How much do you really want to be a Forex Trader? 
In this video:
00:51   Things you need to do to become a Forex trader
02:23   Seeking a good quality Forex education
04:05   You need to be taught from an actual trader
06:26   The EUR zone interest rates dropped 
How much do you really want to be a Forex Trader? I get emails all the time from people saying they want to be full time traders, they want to give up their job, they want to gain most of or all of their income from Forex Trading. If that sounds like you, listen up to what I’ve got to say.
Let’s get into it.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 8th of November and I get emails all the time, many many emails per day from people saying, “Hey Andrew what do I need to do to be a Forex Trader, whether it’s full time, whether it’s replacing my existing career, whether it’s because they’ve got no job, maybe it’s because they want some passive income or they want to trade their retirement funds, whatever it is I’m sure that one of those would apply to you. But people say, “Hey look what do I need to do?” and I say, “Well there are many things that you need to do. You’ve got to have, obviously, a passion to want to trade and to be interested in Forex Trading you see it’s not for everybody. You just can’t just suddenly say, “Hey I want to be a trader because I’ve read about it on the Internet and it looks like a really great or easy way of making lots of money for no effort. If that’s what you’re thinking don’t do it, please just don’t do it.

You need to want to be a trader
But if you’ve got the dedication, the desire to want to be a trader, the enjoyment of it; if those things are what you have then definitely go for it. But remember this: if you want to learn a new career, a new skill whatever it might be you’re probably going to school, university, college, whatever it is you call that in your country for maybe one, two, three, four, five years depending on what it is you’re learning. Of course that has a time factor, it means that you probably can’t do a lot of other things when you’re learning that because the amount of work involved in the actual course whether it’d be a practical course, or university style course, whatever it is, it doesn’t matter.

Seek good quality education
It takes time, it takes dedication and it takes a lot of money to learn any new skill and Forex trading is in some ways the same but in other ways the benefits to you are, there are so many sort of options out there but of course there’s a lot of bad options as well so you really got to filter through and find the options that suit you but what I strongly suggest is that you seek good quality Forex education. You see if you do that and yes you need to invest money into that it’s like anything, it’s like learning that new skill I talked about, you need to invest some time. The good thing is compared with maybe two or three years in university, the cost of most Forex courses is very, very, very tiny in comparison. It means you can learn whilst you’re carrying on with your normal day to day work or your family, your current job whatever it is that you’re doing but it means that you’re learning that skill and it’s something that you can earn from it while you are learning. It doesn’t mean to say you can’t start getting a job until 5 years after you finish your university course.

You need to be taught from an actual trader
You can start making money from Forex straight away but of course you need to start small and you probably need to start demo but when you do start earning money you do start small but then don’t expect to earn you know mega bucks on week one,]]>http://theforextradingcoach.com/?p=3777Sun, 10 Nov 2013 07:48:03 +0000Andrew MitchemPodcast: How much do you really want to be a Forex Trader?  In this video: 00:51   Things you need to do to become a Forex trader 02:23   Seeking a good quality Forex education 04:05   You need to be taught from an actual trader 06:26   The EUR...
How much do you really want to be a Forex Trader? 
In this video:
00:51   Things you need to do to become a Forex trader
02:23   Seeking a good quality Forex education
04:05   You need to be taught from an actual trader
06:26   The EUR zone interest rates dropped 
How much do you really want to be a Forex Trader? I get emails all the time from people saying they want to be full time traders, they want to give up their job, they want to gain most of or all of their income from Forex Trading. If that sounds like you, listen up to what I’ve got to say.
Let’s get into it.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 8th of November and I get emails all the time, many many emails per day from people saying, “Hey Andrew what do I need to do to be a Forex Trader, whether it’s full time, whether it’s replacing my existing career, whether it’s because they’ve got no job, maybe it’s because they want some passive income or they want to trade their retirement funds, whatever it is I’m sure that one of those would apply to you. But people say, “Hey look what do I need to do?” and I say, “Well there are many things that you need to do. You’ve got to have, obviously, a passion to want to trade and to be interested in Forex Trading you see it’s not for everybody. You just can’t just suddenly say, “Hey I want to be a trader because I’ve read about it on the Internet and it looks like a really great or easy way of making lots of money for no effort. If that’s what you’re thinking don’t do it, please just don’t do it.

You need to want to be a trader
But if you’ve got the dedication, the desire to want to be a trader, the enjoyment of it; if those things are what you have then definitely go for it. But remember this: if you want to learn a new career, a new skill whatever it might be you’re probably going to school, university, college, whatever it is you call that in your country for maybe one, two, three, four, five years depending on what it is you’re learning. Of course that has a time factor, it means that you probably can’t do a lot of other things when you’re learning that because the amount of work involved in the actual course whether it’d be a practical course, or university style course, whatever it is, it doesn’t matter.

Seek good quality education
It takes time, it takes dedication and it takes a lot of money to learn any new skill and Forex trading is in some ways the same but in other ways the benefits to you are, there are so many sort of options out there but of course there’s a lot of bad options as well so you really got to filter through and find the options that suit you but what I strongly suggest is that you seek good quality Forex education. You see if you do that and yes you need to invest money into that it’s like anything, it’s like learning that new skill I talked about, you need to invest some time. The good thing is compared with maybe two or three years in university, the cost of most Forex courses is very, very, very tiny in comparison. It means you can learn whilst you’re carrying on with your normal day to day work or your family, your current job whatever it is that you’re doing but it means that you’re learning that skill and it’s something that you can earn from it while you are learning. It doesn’t mean to say you can’t start getting a job until 5 years after you finish your university course.

You need to be taught from an actual trader
You can start making money from Forex straight away but of course you need to start small and you probably need to start demo but when you do start earning money you do start small but then don’t expect to earn you know mega bucks on week one,]]>436falsefullhttps://www.spreaker.com/episode/why-live-trading-room-webinars-are-such-an-important-part-of-learning-how-to-trade-forex--12239858
In this video:
00:28 A great learning tool to becoming a successful Forex trader
02:02 What makes Andrew Mitchem’s webinars different?
03:06 Learning and getting inside the mindset of a professional trader
06:04 Taking trades live in front of people
Why live trading room webinars are such an important part of learning how to become a successful Forex trader
I want to share with you why attending a live trading room webinar is such an important part of becoming a successful Forex trader especially when you’re learning how to trade.
Let me tell you more right now.
Hi, this is Andrew Mitchem here the Forex Trading Coach today is Friday the 1st of November. I want to talk about live trading room webinars. It’s something that I offer my clients and it’s something I believe is so important and such a great learning tool to help you becoming a successful Forex trader. I want to tell you a few reasons why because really in my opinion there’s no better way of learning. Like I offer a video course and also live tuition and all of that is fantastic and it’s a great way to learn the basics.
But attending a live trading room webinar is something that’s a little bit different. It’s a step above everything else. But it’s important to have the right kind of webinar as well.  I mean all sorts of people offer webinars online and most of them are completely useless and boring and don’t really tell you anything.

What makes Andrew Mitchem's live trading room webinars different
What I offer for my clients is a live trading room session and I want to tell you a little bit about that. To let you know how it can help you.  You see I hold these sessions every two weeks. They’re live. They’re in the European session. I have up to a hundred clients can attend those webinars. They’re all recorded so they can be viewed at a later date.  But the important thing is that with trading live, I trade all my charts here behind me on live accounts using the software that my clients have. And we’re talking about trading in real time. That’s the important thing. We’re looking at the right hand side of the chart. Looking at what’s happening right now. There’s no hindsight involved. There’s no cherry picking the best trades. If they’re good winning trades, they look good. If there’s losing trades, there’s losing trades. It’s part of trading. And you can’t get away from that.
But it’s also important and one thing that I believe makes my webinars different to most others is, I show my account. I show my account historical trades and I show my account live. I show taking the trades live. I’m not saying “Oh, I’m just taking a trade on the Euro/USD selling at blah, blah, blah price.”  I don’t do that. “Oh I’ve just closed part of my trade.” I don’t do that.  I show the trade being taken live. You can see me taking the trade on my account. You can see the position size. You can see the entry price. You can see me enter my stop/loss, my profit target. You can watch the trade progress. You can see trades that I’ve got already open when the webinar starts and you can see all of the trades that I take during the session.

Learning and getting inside the mindset of a professional trader
The important thing is, one of many, one proves that I’m taking the trades and in real time and that helps you to learn because we’re discussing the trades set up. We’re scanning through the charts. Looking at different time frame charts. Looking for good set ups. So, for your point of view, it helps you to learn and get inside the mindset of a professional trader.  What I’m looking at and why I’m looking at taking this trade or not taking this trade.]]>http://theforextradingcoach.com/?p=3768Sun, 03 Nov 2013 19:31:53 +0000Andrew MitchemPodcast: In this video: 00:28 A great learning tool to becoming a successful Forex trader 02:02 What makes Andrew Mitchem’s webinars different? 03:06 Learning and getting inside the mindset of a professional trader 06:04 Taking trades live in...
In this video:
00:28 A great learning tool to becoming a successful Forex trader
02:02 What makes Andrew Mitchem’s webinars different?
03:06 Learning and getting inside the mindset of a professional trader
06:04 Taking trades live in front of people
Why live trading room webinars are such an important part of learning how to become a successful Forex trader
I want to share with you why attending a live trading room webinar is such an important part of becoming a successful Forex trader especially when you’re learning how to trade.
Let me tell you more right now.
Hi, this is Andrew Mitchem here the Forex Trading Coach today is Friday the 1st of November. I want to talk about live trading room webinars. It’s something that I offer my clients and it’s something I believe is so important and such a great learning tool to help you becoming a successful Forex trader. I want to tell you a few reasons why because really in my opinion there’s no better way of learning. Like I offer a video course and also live tuition and all of that is fantastic and it’s a great way to learn the basics.
But attending a live trading room webinar is something that’s a little bit different. It’s a step above everything else. But it’s important to have the right kind of webinar as well.  I mean all sorts of people offer webinars online and most of them are completely useless and boring and don’t really tell you anything.

What makes Andrew Mitchem's live trading room webinars different
What I offer for my clients is a live trading room session and I want to tell you a little bit about that. To let you know how it can help you.  You see I hold these sessions every two weeks. They’re live. They’re in the European session. I have up to a hundred clients can attend those webinars. They’re all recorded so they can be viewed at a later date.  But the important thing is that with trading live, I trade all my charts here behind me on live accounts using the software that my clients have. And we’re talking about trading in real time. That’s the important thing. We’re looking at the right hand side of the chart. Looking at what’s happening right now. There’s no hindsight involved. There’s no cherry picking the best trades. If they’re good winning trades, they look good. If there’s losing trades, there’s losing trades. It’s part of trading. And you can’t get away from that.
But it’s also important and one thing that I believe makes my webinars different to most others is, I show my account. I show my account historical trades and I show my account live. I show taking the trades live. I’m not saying “Oh, I’m just taking a trade on the Euro/USD selling at blah, blah, blah price.”  I don’t do that. “Oh I’ve just closed part of my trade.” I don’t do that.  I show the trade being taken live. You can see me taking the trade on my account. You can see the position size. You can see the entry price. You can see me enter my stop/loss, my profit target. You can watch the trade progress. You can see trades that I’ve got already open when the webinar starts and you can see all of the trades that I take during the session.

Learning and getting inside the mindset of a professional trader
The important thing is, one of many, one proves that I’m taking the trades and in real time and that helps you to learn because we’re discussing the trades set up. We’re scanning through the charts. Looking at different time frame charts. Looking for good set ups. So, for your point of view, it helps you to learn and get inside the mindset of a professional trader.  What I’m looking at and why I’m looking at taking this trade or not taking this trade.]]>400falsefullhttps://www.spreaker.com/episode/two-excellent-ways-in-which-you-can-refine-your-trading-entries--12239857In this video:
00:24   Two very specific ways to enter trades
02:01   Using limit orders
04:03   Jam packed training webinar
05:01   Non-farm payrolls released this week
Two ways to refine your Forex Trading Entries
In this video I am going to share with you two excellent ways in which you can refine you trading entries. Let me tell you more right now.
Hi it’s Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 25th of October and that’s right I want to talk about entries this time and so I have two very specific ways that I enter trades getting a better price than what you could get at the market. There’s two ways of doing this and it depends on the time frame of the chart that you’re trading. One thing that I like to do if I’m trading let’s say on an hourly chart and I see a very strong bullish setup. What I sometimes do is I then scale down to a five minute chart or even a one minute chart and look for a refined entry so what I’m doing then is I’m looking for pull back first on the one or five minute chart then I’m looking for a bullish candle with a bounce off a certain level like a round number or a pivot point or something like that looking for that really sharp entry, looking to go long.

How to trade with a small stop loss
If it’s bouncing off let’s say the round number I can have a very, very tight stop loss on that trade and therefore I can make an excellent profit on the trade without too much movement. I’ll give you an example this week I’ve taken three trades that way. I’ve seen good setups on the one hour charts, refined down to a one minute chart and look for the entries. All three trades that I’ve taken have made full profit and all three have averaged a two to one risk to reward. So if I was to trade with half of one percent risk on each of those three trades that’s over a three percent gain on my account this week just from those three trades, so huge return.

Using Limit orders to enter
The other way that I trade and which means that you don’t need to be at your computer is I use limit orders. I’m a big fan of using buy limit and sell limit orders. Now I do this mostly on the four hourly charts and the daily charts. So what it means is if I see a set up that I really like. I place let’s say, the four hour chart I’m looking for a bullish signal. I placing a buy limit so I’m not buying right up here at the market I’m buying if the price retraces first, if it retraces I’m buying at a better entry price that means. That my stop loss is naturally going to be smaller which means that the market doesn’t need to move so far in order to give me a good risk to reward out of the trade.
6.5% gain this week
Now I’ve taken two trades just yesterday on the four hourly charts and both of them hit profit and the two of them averaged a 2.5 risk to reward each. So, again its excellent returns. Half a percent on each of those two trades gives me a two and a half percent gain on my account. So you can see from this week alone just on those five trades there’s been a five percent return on my account this week. That’s without any other trades that’s without looking at the daily charts or any other time frame charts at all and in fact my breakout system that I use on a Monday also made one and a half percent so it’s been a fantastic week up over six and a half percent from just a small handful of trades.
The great thing with the limit orders means you don’t need to be there watching the market waiting for that actually pull the trigger to take the entry because my broker has my entry level already placed onto their system. If the market takes off and does not retrace then I have the trade automatically set to expire after X number of hours. So two really good ways there of entering at a better price then you would get if you were entering straight at the market.]]>http://theforextradingcoach.com/?p=3757Sun, 27 Oct 2013 08:51:37 +0000Andrew MitchemPodcast: In this video: 00:24   Two very specific ways to enter trades 02:01   Using limit orders 04:03   Jam packed training webinar 05:01   Non-farm payrolls released this week Two ways to refine your Forex Trading Entries In this video I am...In this video:
00:24   Two very specific ways to enter trades
02:01   Using limit orders
04:03   Jam packed training webinar
05:01   Non-farm payrolls released this week
Two ways to refine your Forex Trading Entries
In this video I am going to share with you two excellent ways in which you can refine you trading entries. Let me tell you more right now.
Hi it’s Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 25th of October and that’s right I want to talk about entries this time and so I have two very specific ways that I enter trades getting a better price than what you could get at the market. There’s two ways of doing this and it depends on the time frame of the chart that you’re trading. One thing that I like to do if I’m trading let’s say on an hourly chart and I see a very strong bullish setup. What I sometimes do is I then scale down to a five minute chart or even a one minute chart and look for a refined entry so what I’m doing then is I’m looking for pull back first on the one or five minute chart then I’m looking for a bullish candle with a bounce off a certain level like a round number or a pivot point or something like that looking for that really sharp entry, looking to go long.

How to trade with a small stop loss
If it’s bouncing off let’s say the round number I can have a very, very tight stop loss on that trade and therefore I can make an excellent profit on the trade without too much movement. I’ll give you an example this week I’ve taken three trades that way. I’ve seen good setups on the one hour charts, refined down to a one minute chart and look for the entries. All three trades that I’ve taken have made full profit and all three have averaged a two to one risk to reward. So if I was to trade with half of one percent risk on each of those three trades that’s over a three percent gain on my account this week just from those three trades, so huge return.

Using Limit orders to enter
The other way that I trade and which means that you don’t need to be at your computer is I use limit orders. I’m a big fan of using buy limit and sell limit orders. Now I do this mostly on the four hourly charts and the daily charts. So what it means is if I see a set up that I really like. I place let’s say, the four hour chart I’m looking for a bullish signal. I placing a buy limit so I’m not buying right up here at the market I’m buying if the price retraces first, if it retraces I’m buying at a better entry price that means. That my stop loss is naturally going to be smaller which means that the market doesn’t need to move so far in order to give me a good risk to reward out of the trade.
6.5% gain this week
Now I’ve taken two trades just yesterday on the four hourly charts and both of them hit profit and the two of them averaged a 2.5 risk to reward each. So, again its excellent returns. Half a percent on each of those two trades gives me a two and a half percent gain on my account. So you can see from this week alone just on those five trades there’s been a five percent return on my account this week. That’s without any other trades that’s without looking at the daily charts or any other time frame charts at all and in fact my breakout system that I use on a Monday also made one and a half percent so it’s been a fantastic week up over six and a half percent from just a small handful of trades.
The great thing with the limit orders means you don’t need to be there watching the market waiting for that actually pull the trigger to take the entry because my broker has my entry level already placed onto their system. If the market takes off and does not retrace then I have the trade automatically set to expire after X number of hours. So two really good ways there of entering at a better price then you would get if you were entering straight at the market.]]>382falsefullhttps://www.spreaker.com/episode/what-is-the-best-time-frame-chart-to-trade-forex--12239859
In this video:
00:32     What is the best timeframe chart to trade?
03:06     5.8% return on two trades
06:18     A huge weakness in the USD


What is the best time frame chart to trade Forex?
What’s the best time frame chart to trade? What suits you? Well let’s talk about that right now in this video.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Welcome along today is Friday the 17th of October 2013 and that’s right I want to talk about the timeframe of charts. See behind me here I have three different timeframe charts open – ones on the daily charts, ones on the four hourly and ones on the one hourly. What is the best timeframe chart to trade? Everybody is also looking for the best strategy but what is the actual best timeframe? And really the answer is that it depends on what suits you because there is no right or wrong way and let me explain exactly what I mean.

Weekly Chart Trading
I held a live two and a half hour webinar for my clients last night my time in the European session and we had people from all sorts of different countries around the world. I want to talk about that three people. The first one actually wasn’t on because he was working. He lives in Noosa over in Australia. He was actually my very first client, my coaching client back in early 2009 and this person, he owns a restaurant and he’s also a chef so he’s a full time chef and a restaurant owner in beautiful Noosa over in Australia in the Sunshine Coast. Lovely place, got to go there if you’re not been there. He works days and nights being a chef and so he trades weekly charts. He just look at the charts once a week for about fifteen, twenty minutes on a Monday morning his time looking through the weekly charts. Places his trades if there any there puts away, leaves his trades, that’s it for the week that’s this trading. He trades about an average of only 100 trades per year but it still does really well and it’s what suits him.

5 and 15 Minute Charts
We then take to the other extreme and we had Robert from over in Oregon in the US on the webinar last night early hours in the morning for him and gets up to my webinar because he just learned so much information. It was great sharing that information that he knows also about the five minute charts. Now he took two trades on the British Pound/USD yesterday and his trading style is to look for just the major pairs with the tightest spreads on the five minute charts sometimes the fifteen minute charts in the first two hours of the Asian session and the first two hours of the European session. And he took two trades and shared those two trades yesterday both on the British Pound USD, both buy trades trading with the longer term trend but on the short five minutes charts because that’s what suits him.

5.8% return in just 2 trades
One trade made a 2.8 risk to reward and the other made a 3 to 1 risk to reward. So if you are risking let’s say 1% of your account on each of those two trades because they’re both taken separately when one is close when the other one are opened. That would have been a 5.8% return by risking 1% on each of those two trades – that’s a huge return Robert actually only traded on half percent for a +2.9% gain on his account by risking only half of 1% on each of those two trades. And like Robert said that’s more than his bank will pay him in the States in the entire year and he made that just out of two trades on the five minute charts just yesterday. So it shows what it can be done.

4 Hour and 1 Hour charts
I had another person on the webinar, Pete was there, and Pete was on his first webinar and he said,]]>http://theforextradingcoach.com/?p=3745Sun, 20 Oct 2013 09:01:17 +0000Andrew MitchemPodcast: In this video: 00:32     What is the best timeframe chart to trade? 03:06     5.8% return on two trades 06:18     A huge weakness in the USD What is the best time frame chart to trade Forex? What’s the best time frame chart to trade?...
In this video:
00:32     What is the best timeframe chart to trade?
03:06     5.8% return on two trades
06:18     A huge weakness in the USD


What is the best time frame chart to trade Forex?
What’s the best time frame chart to trade? What suits you? Well let’s talk about that right now in this video.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Welcome along today is Friday the 17th of October 2013 and that’s right I want to talk about the timeframe of charts. See behind me here I have three different timeframe charts open – ones on the daily charts, ones on the four hourly and ones on the one hourly. What is the best timeframe chart to trade? Everybody is also looking for the best strategy but what is the actual best timeframe? And really the answer is that it depends on what suits you because there is no right or wrong way and let me explain exactly what I mean.

Weekly Chart Trading
I held a live two and a half hour webinar for my clients last night my time in the European session and we had people from all sorts of different countries around the world. I want to talk about that three people. The first one actually wasn’t on because he was working. He lives in Noosa over in Australia. He was actually my very first client, my coaching client back in early 2009 and this person, he owns a restaurant and he’s also a chef so he’s a full time chef and a restaurant owner in beautiful Noosa over in Australia in the Sunshine Coast. Lovely place, got to go there if you’re not been there. He works days and nights being a chef and so he trades weekly charts. He just look at the charts once a week for about fifteen, twenty minutes on a Monday morning his time looking through the weekly charts. Places his trades if there any there puts away, leaves his trades, that’s it for the week that’s this trading. He trades about an average of only 100 trades per year but it still does really well and it’s what suits him.

5 and 15 Minute Charts
We then take to the other extreme and we had Robert from over in Oregon in the US on the webinar last night early hours in the morning for him and gets up to my webinar because he just learned so much information. It was great sharing that information that he knows also about the five minute charts. Now he took two trades on the British Pound/USD yesterday and his trading style is to look for just the major pairs with the tightest spreads on the five minute charts sometimes the fifteen minute charts in the first two hours of the Asian session and the first two hours of the European session. And he took two trades and shared those two trades yesterday both on the British Pound USD, both buy trades trading with the longer term trend but on the short five minutes charts because that’s what suits him.

5.8% return in just 2 trades
One trade made a 2.8 risk to reward and the other made a 3 to 1 risk to reward. So if you are risking let’s say 1% of your account on each of those two trades because they’re both taken separately when one is close when the other one are opened. That would have been a 5.8% return by risking 1% on each of those two trades – that’s a huge return Robert actually only traded on half percent for a +2.9% gain on his account by risking only half of 1% on each of those two trades. And like Robert said that’s more than his bank will pay him in the States in the entire year and he made that just out of two trades on the five minute charts just yesterday. So it shows what it can be done.

4 Hour and 1 Hour charts
I had another person on the webinar, Pete was there, and Pete was on his first webinar and he said,]]>428falsefullhttps://www.spreaker.com/episode/it-s-time-to-think-like-an-investor-in-order-to-be-a-profitable-forex-trader--12239861In this video:

00:53     Having the mindset of an investor
02:45     Trading by maximum 0.5% of your account per trade
04:58     The Holy Grail strategy
06:32     Got some trades working really nicely
It's time to Think like an Investor in order to be a Profitable Forex Trader
In today’s video I want to talk about why you need to be thinking like a true investor and not like a gambler in order to be a profitable Forex trader. Let me explain exactly what I mean right now.
Hi traders, Andrew Mitchem here the Forex Trading Coach. Today is Friday, the 11th of October 2013. And I want to talk about using some common sense around your trading. Think of your trading as an investor, it is an investment. Look the money that I’ve got invested in my accounts here behind me, you know there’s a lot of money involved. It’s no different to any other investment. It’s no different to buying art, or property or metals or vehicles or whatever it is that you invest in. Forex trading is exactly the same and you need to have that mindset of an investor and not a gambler in order to be a profitable trader. I know that as after ten years of trading I’ve never blown an account. I’ve always used very low risk trading but there’s a lot of other things that I’ve developed that I can really help you with. So let’s talk about them right now.

Having a good Trading Plan
You see the last couple of weeks I’ve talked about of these videos and podcasts about having a suitable trading plan. Now my trading plan might not suit you. It’s what suits you that is important. It’s the time of day that suits you to trade or night. It’s the time frame, it’s the length of, you know what do you like to trade and be in out of trades within a matter of minutes, or hours, or days, or weeks. It’s what suits you that really important.
The extra strategy and what I’m using here behind me will work on any time frame and any pair; that’s not the issue, I can help you with that. The thing that you need to understand for yourself is what kind of person you are, what kind of trader you are, what suits you realistically. You see you have to have realistic expectations not only in terms of how much time you can dedicate to your trading and your learning of your trading but also in terms of your returns. And what I mean by that is that there are so many traders especially when you go through the forums etc., and you read about the sales picture robots and people and people try selling things and trying to make an absolute fortune you know hundreds of percent per month or you know thousands of percent in a year. It’s just rubbish. Don’t believe it. It’s not realistic. Yes you could do it by risking huge amounts of your account in your capital but again it’s not treating your trading like a true investor; it’s gambling.

Low risk trading approach will win in the end
So if you come back to the strategy and the philosophy that I teach in our years of very low risk trading. Now I mean low risk trading by maximum 0.5% of your account per trade – very low risk trading. It means that your emotions are controlled. It also means that yes your profits are not going to be astronomical but you don’t need them to be.

50 – 100% return per year 
You know if you’re looking work on let’s say an average between 1 and 2 percent gain on your account per week, that’s a huge return. Now to me I’m more than happy with that. You put that across the course of a year and with that compounding let’s say 2% a week. Well that compounding that’s over 100% return per year. Now that is pretty outstanding. When you look at the Fund Management companies,]]>http://theforextradingcoach.com/?p=3725Sun, 13 Oct 2013 18:55:04 +0000Andrew MitchemPodcast: In this video: 00:53     Having the mindset of an investor 02:45     Trading by maximum 0.5% of your account per trade 04:58     The Holy Grail strategy 06:32     Got some trades working really nicely It's time to Think like an Investor...In this video:

00:53     Having the mindset of an investor
02:45     Trading by maximum 0.5% of your account per trade
04:58     The Holy Grail strategy
06:32     Got some trades working really nicely
It's time to Think like an Investor in order to be a Profitable Forex Trader
In today’s video I want to talk about why you need to be thinking like a true investor and not like a gambler in order to be a profitable Forex trader. Let me explain exactly what I mean right now.
Hi traders, Andrew Mitchem here the Forex Trading Coach. Today is Friday, the 11th of October 2013. And I want to talk about using some common sense around your trading. Think of your trading as an investor, it is an investment. Look the money that I’ve got invested in my accounts here behind me, you know there’s a lot of money involved. It’s no different to any other investment. It’s no different to buying art, or property or metals or vehicles or whatever it is that you invest in. Forex trading is exactly the same and you need to have that mindset of an investor and not a gambler in order to be a profitable trader. I know that as after ten years of trading I’ve never blown an account. I’ve always used very low risk trading but there’s a lot of other things that I’ve developed that I can really help you with. So let’s talk about them right now.

Having a good Trading Plan
You see the last couple of weeks I’ve talked about of these videos and podcasts about having a suitable trading plan. Now my trading plan might not suit you. It’s what suits you that is important. It’s the time of day that suits you to trade or night. It’s the time frame, it’s the length of, you know what do you like to trade and be in out of trades within a matter of minutes, or hours, or days, or weeks. It’s what suits you that really important.
The extra strategy and what I’m using here behind me will work on any time frame and any pair; that’s not the issue, I can help you with that. The thing that you need to understand for yourself is what kind of person you are, what kind of trader you are, what suits you realistically. You see you have to have realistic expectations not only in terms of how much time you can dedicate to your trading and your learning of your trading but also in terms of your returns. And what I mean by that is that there are so many traders especially when you go through the forums etc., and you read about the sales picture robots and people and people try selling things and trying to make an absolute fortune you know hundreds of percent per month or you know thousands of percent in a year. It’s just rubbish. Don’t believe it. It’s not realistic. Yes you could do it by risking huge amounts of your account in your capital but again it’s not treating your trading like a true investor; it’s gambling.

Low risk trading approach will win in the end
So if you come back to the strategy and the philosophy that I teach in our years of very low risk trading. Now I mean low risk trading by maximum 0.5% of your account per trade – very low risk trading. It means that your emotions are controlled. It also means that yes your profits are not going to be astronomical but you don’t need them to be.

50 – 100% return per year 
You know if you’re looking work on let’s say an average between 1 and 2 percent gain on your account per week, that’s a huge return. Now to me I’m more than happy with that. You put that across the course of a year and with that compounding let’s say 2% a week. Well that compounding that’s over 100% return per year. Now that is pretty outstanding. When you look at the Fund Management companies,]]>482falsefullhttps://www.spreaker.com/episode/here-is-my-trading-plan-do-you-have-one-for-yourself--12239863
In this video:
00:50  Andrew’s actual trading plan
03:06  The entries and exits with different entry criteria
04:17  Maximum risk per trade
07:01  A client with 7/7 profitable trades
08:14  Expecting non-farm payrolls next week


Today I’m going to talk about my trading plan but first of all, do you have one for yourself? If not let’s find out more about what a trading plan should have in it right now.
Hi it’s Andrew Mitchem here the Forex Trading coach. Today is Friday the 4th of October 2013. And that’s right I want to talk about having a trading plan. I want to explain my trading plan which I have right here and it’s something I talked about on my live webinar with my clients last night. And I also want to ask you, do you have a trading plan for yourself because if you don’t, it's something that I strongly advise that you should have and if you'd like a copy of what I have here, there’s a blank copy, you can fill in your own version then please email me andrew@theforextradingcoach.com.
So let’s get into it.
This is my trading plan and as I mentioned, I talked about this on my webinar yesterday. I split it up into different areas. I'm going to look down at my notes here and talk about what’s on my plan. Now I split it up to start with into the actual trading side of things. What I’m going to be looking at in terms of what currency pairs am I going to trade and personally for me I’m going to trade all twenty six currency pairs that my broker offers plus gold and silver. Because I’m not worried about what the currency pair is that I’m trading because I live in New Zealand, I don’t just trade NZD$, the NZD/USD or NZD/JPY, it doesn’t matter. I'll trade any one of the twenty six currency pairs that my broker offers it all depends on what the setup is and as long as the setup is good enough for validating what I see is a good trade. But that’s what suits me, you may say, “Well I’m only wanting to trade the major pairs or I’m only wanting to trade AUD pairs or the Yen pairs, whatever it might be but for me all twenty six pairs.
Days of the week that I’m looking at trading well again for me as a full time trader I'll look Monday through to Friday, it doesn’t matter to me what the day of the week although when I’m trading the shorter time frames as I mentioned further down into this, I am not trading on a Monday until the European session and I don’t trade after midway through the  European session on a Friday and Tuesdays, Wednesdays and Thursdays when I prefer to look at the one hour charts. The rest of the days I look at the four hourly charts and the daily charts. But again I've split it up into when I will trade, when I won't trade. Times of the day in times of the year that I don’t like to trade, for instance leading up to major public holidays like Easter and Christmas, New Year, etc. Just before non-farm payrolls, you know I won't trade that. Again on here when I won't trade the setups that I’m looking at taking: What exactly is it that I’m looking at does that change for different time frames or different pairs. Write it down so you can go and say, “Well does this setup that’s right in front of me now on the chart here does that meet the criteria of my trading plan?”

Different Entry and Exit Criteria
Then I’ve mentioned entries and exits so on different time frames I have different entry criteria. On some time frames such as the daily charts I split my position. I take some of the market and another part of my position at the retracement so I split that order. I do the same on four hourly charts but on the one hour charts I entered just at the market only. But I’ve got that written down step by step detail here. Now my stop losses, where am I going to place my stops and why?]]>http://theforextradingcoach.com/?p=3715Sun, 06 Oct 2013 06:48:29 +0000Andrew MitchemPodcast: In this video: 00:50  Andrew’s actual trading plan 03:06  The entries and exits with different entry criteria 04:17  Maximum risk per trade 07:01  A client with 7/7 profitable trades 08:14  Expecting non-farm payrolls next week Today...
In this video:
00:50  Andrew’s actual trading plan
03:06  The entries and exits with different entry criteria
04:17  Maximum risk per trade
07:01  A client with 7/7 profitable trades
08:14  Expecting non-farm payrolls next week


Today I’m going to talk about my trading plan but first of all, do you have one for yourself? If not let’s find out more about what a trading plan should have in it right now.
Hi it’s Andrew Mitchem here the Forex Trading coach. Today is Friday the 4th of October 2013. And that’s right I want to talk about having a trading plan. I want to explain my trading plan which I have right here and it’s something I talked about on my live webinar with my clients last night. And I also want to ask you, do you have a trading plan for yourself because if you don’t, it's something that I strongly advise that you should have and if you'd like a copy of what I have here, there’s a blank copy, you can fill in your own version then please email me andrew@theforextradingcoach.com.
So let’s get into it.
This is my trading plan and as I mentioned, I talked about this on my webinar yesterday. I split it up into different areas. I'm going to look down at my notes here and talk about what’s on my plan. Now I split it up to start with into the actual trading side of things. What I’m going to be looking at in terms of what currency pairs am I going to trade and personally for me I’m going to trade all twenty six currency pairs that my broker offers plus gold and silver. Because I’m not worried about what the currency pair is that I’m trading because I live in New Zealand, I don’t just trade NZD$, the NZD/USD or NZD/JPY, it doesn’t matter. I'll trade any one of the twenty six currency pairs that my broker offers it all depends on what the setup is and as long as the setup is good enough for validating what I see is a good trade. But that’s what suits me, you may say, “Well I’m only wanting to trade the major pairs or I’m only wanting to trade AUD pairs or the Yen pairs, whatever it might be but for me all twenty six pairs.
Days of the week that I’m looking at trading well again for me as a full time trader I'll look Monday through to Friday, it doesn’t matter to me what the day of the week although when I’m trading the shorter time frames as I mentioned further down into this, I am not trading on a Monday until the European session and I don’t trade after midway through the  European session on a Friday and Tuesdays, Wednesdays and Thursdays when I prefer to look at the one hour charts. The rest of the days I look at the four hourly charts and the daily charts. But again I've split it up into when I will trade, when I won't trade. Times of the day in times of the year that I don’t like to trade, for instance leading up to major public holidays like Easter and Christmas, New Year, etc. Just before non-farm payrolls, you know I won't trade that. Again on here when I won't trade the setups that I’m looking at taking: What exactly is it that I’m looking at does that change for different time frames or different pairs. Write it down so you can go and say, “Well does this setup that’s right in front of me now on the chart here does that meet the criteria of my trading plan?”

Different Entry and Exit Criteria
Then I’ve mentioned entries and exits so on different time frames I have different entry criteria. On some time frames such as the daily charts I split my position. I take some of the market and another part of my position at the retracement so I split that order. I do the same on four hourly charts but on the one hour charts I entered just at the market only. But I’ve got that written down step by step detail here. Now my stop losses, where am I going to place my stops and why?]]>572falsefullhttps://www.spreaker.com/episode/some-tips-that-will-help-you-become-a-successful-forex-trader--12239862
In this video:
00:40  Forex Factory to keep you up to date with different time zones
01:18  Four things that are critical to help you with your trading
02:19  A really good safe way of trading
03:59  Learn about strong psychological bounce areas
Examples of the way that I trade and some hints that will really help you become a successful Forex trader
Hi, in today’s video I want to give a few examples of the way that I trade, and to give you some hints that will really help you become a successful Forex trader.  Let’s find out more right now.
Hi, its Andrew Mitchem here, the Forex Trading Coach, welcome along.
Today is Friday, the 27th of September, and nearly into summertime here this side of the world.  Just a quick reminder that if you are in New Zealand, the clocks do change this weekend.  So, if you’re waiting to see my daily trades at 9:00 a.m. our time next week and you’re still waiting till 10:00 a.m., that’ll be the reason why; just look out for those clocks.
Just talking about that, I always use something like Forex Factory to keep me up to date with the different time zones and different change of times into summertime, wintertime, etc., using a site called forexfactory.com.  It’s a great site, helps you with all the news announcements, and any relevant and up to date Forex information.  So, that’s forexfactory.com.
What I wanted to talk about today, continuation patterns, reversal patterns, trend line breaks, and round numbers. Four things that are critical to help you with your trading.
So, I want to give you a quick tip on all four of those.  Had lot of e-mails, because I said last week that I promise I’ll talk about that, so here we go.

Continuation Patterns
First of all, continuation patterns.  A continuation pattern is when you are trading with the main trend, but after a pullback, and it’s a really good safe way of trading.  What it means is you’re not entering the trade when it’s too late, because – an example, in an uptrend, you would have, let’s say, an uptrend, you then have a pullback, and then you’re looking for an opportunity to go long again, to buy again after a main uptrend, but only after you’ve had a pullback, and then you see the candle pattern or the trade setup to tell you, hey, this is the opportunity to go long again after you’ve had that retracement, because don’t forget that all currencies move up and down even in an uptrend, they’re constantly zigzagging their way up and down. No currency does that.  So always lookout for pullbacks, retracements, and then the opportunity to go long again, and of course, exactly the opposite with the short position; you’ve had a downtrend, you then had a pullback, and then you look for an opportunity here to go short again.  So, that’s a continuation pattern; a really good safe way of trading with the overall main trend, but after a pullback or retracement. 

Reversal Patterns
The other type of trade that I look for in my trading, and the way that I teach people, my clients to trade, are looking for reversal trades.  Now a reversal trade looks really dramatic on a chart; let’s say you have a huge uptrend, and then you get the opportunity to go short, or sell, at the top of an uptrend.  The opposite with a short position, if you have a long downtrend, and then you get the reversal pattern to buy.  So, that’s a reversal pattern. It can be a little bit more unreliable as a pattern, you do need to have several other factors backing the trade up, you couldn’t just take an engulfing pattern in a big downtrend looking to go long again, because you need other things backing it up.

Trend Line Break
Now,]]>http://theforextradingcoach.com/?p=3708Sun, 29 Sep 2013 03:00:30 +0000Andrew MitchemPodcast: In this video: 00:40  Forex Factory to keep you up to date with different time zones 01:18  Four things that are critical to help you with your trading 02:19  A really good safe way of trading 03:59  Learn about strong psychological...
In this video:
00:40  Forex Factory to keep you up to date with different time zones
01:18  Four things that are critical to help you with your trading
02:19  A really good safe way of trading
03:59  Learn about strong psychological bounce areas
Examples of the way that I trade and some hints that will really help you become a successful Forex trader
Hi, in today’s video I want to give a few examples of the way that I trade, and to give you some hints that will really help you become a successful Forex trader.  Let’s find out more right now.
Hi, its Andrew Mitchem here, the Forex Trading Coach, welcome along.
Today is Friday, the 27th of September, and nearly into summertime here this side of the world.  Just a quick reminder that if you are in New Zealand, the clocks do change this weekend.  So, if you’re waiting to see my daily trades at 9:00 a.m. our time next week and you’re still waiting till 10:00 a.m., that’ll be the reason why; just look out for those clocks.
Just talking about that, I always use something like Forex Factory to keep me up to date with the different time zones and different change of times into summertime, wintertime, etc., using a site called forexfactory.com.  It’s a great site, helps you with all the news announcements, and any relevant and up to date Forex information.  So, that’s forexfactory.com.
What I wanted to talk about today, continuation patterns, reversal patterns, trend line breaks, and round numbers. Four things that are critical to help you with your trading.
So, I want to give you a quick tip on all four of those.  Had lot of e-mails, because I said last week that I promise I’ll talk about that, so here we go.

Continuation Patterns
First of all, continuation patterns.  A continuation pattern is when you are trading with the main trend, but after a pullback, and it’s a really good safe way of trading.  What it means is you’re not entering the trade when it’s too late, because – an example, in an uptrend, you would have, let’s say, an uptrend, you then have a pullback, and then you’re looking for an opportunity to go long again, to buy again after a main uptrend, but only after you’ve had a pullback, and then you see the candle pattern or the trade setup to tell you, hey, this is the opportunity to go long again after you’ve had that retracement, because don’t forget that all currencies move up and down even in an uptrend, they’re constantly zigzagging their way up and down. No currency does that.  So always lookout for pullbacks, retracements, and then the opportunity to go long again, and of course, exactly the opposite with the short position; you’ve had a downtrend, you then had a pullback, and then you look for an opportunity here to go short again.  So, that’s a continuation pattern; a really good safe way of trading with the overall main trend, but after a pullback or retracement. 

Reversal Patterns
The other type of trade that I look for in my trading, and the way that I teach people, my clients to trade, are looking for reversal trades.  Now a reversal trade looks really dramatic on a chart; let’s say you have a huge uptrend, and then you get the opportunity to go short, or sell, at the top of an uptrend.  The opposite with a short position, if you have a long downtrend, and then you get the reversal pattern to buy.  So, that’s a reversal pattern. It can be a little bit more unreliable as a pattern, you do need to have several other factors backing the trade up, you couldn’t just take an engulfing pattern in a big downtrend looking to go long again, because you need other things backing it up.

Trend Line Break
Now,]]>332falsefullhttps://www.spreaker.com/episode/why-having-a-good-trading-plan-is-such-an-important-part-of-becoming-a-successful-forex-trader--12239864
In this video:
00:29     Having some form of trading plan in place
02:30     Seeing fourteen currency pairs with definite strength and weakness
04:23     A sell trade made a full profit
06:15     My new website
Today I want to talk about why you need a trading plan to be a successful Forex Trader. Let’s talk about that right now.
Why you need a good trading plan to help you become a successful Forex trader
Hi it’s Andrew Mitchem here the Forex Trading Coach. Welcome along today is Friday the 20th of September. And I want to talk about having a trading plan because you see it’s something that so many people don’t have. Even if it’s a simple piece of paper pinned to your wall behind your screen you need to have some form of trading plan in place. For instance if you’re going to go by a business or a car or a house or go to school, university, you’d had a plan in place and trading is no different. You need to have a plan of how you’re going to trade, what times of the day you’re looking at trading, what time frames, any specifics in terms of the number of trades you might take, the total amount you might have exposed into the market at any one time. Whatever it is you need to have that written down  so that you can refer to that throughout the course of the day and you’ll be amazed if you do that and stick to your rules within your trading. What it will do is it will help eliminate a lot of those losing trades.
I’ll give you an example, I broke my rules once last week and I was talking about this on my webinar last night with my clients and I aimed for a slightly higher profit target than I should have using my rules and it bit me. Look, the trade would have got there and taken my standard profit target quite easily and made just over 2 to 1 risk to reward and I saw another level I broke my rules, the market came back stopped me out first and then went on to where my profit target was but if I hadn’t broken the rules I would have taken profit and been out of the trade. So just go to show everybody makes mistakes, yes, no one’s perfect but have a trading plan in place and stick to it as much as you can and it will really help you.

Looking for some better setups now we've had the Fed Announcement
On to the markets what have we seen? Well we’ve had the Fed Announcement this week and up until that the week before that, it’s just been pretty quite at that especially on the longer term charts. Not been a huge amount of clear direction or huge strength or the weakness in any particular currencies, it’s just been pretty bland out there but now we’ve had that announcement from the feds we’re seeing some clear direction. I’ll give you an example on Monday; I don’t think I took any trades on the daily charts, Monday. On Tuesday I think I took two.
Today I was seeing fourteen currency pairs that I’m looking at definite strength and weakness for today being Friday. So it means that when I’m trading four hourly charts or one hourly charts or anything else, I’ve got fourteen currency pairs that have got a really strong opinion on either looking for predominant buy trades or sell trades. And so it just shows that when the market shows those setups, take the trades, take the opportunities when they show but don’t overtrade and don’t trade just for the sake of trading. If the market’s quiet, if you don’t have a clear opinion and you don’t have any clear direction, don’t take the trade, it’s just simple as that. All you’re doing is losing money from your pocket and feeding your broker. Both of which you don’t really need to do. So that’s in terms of looking at the overall perspective of your trading.

Live trading room webinars – the best place to learn how to trade Forex
As I have just mentioned I held a live webinar for my clients last nigh...]]>http://theforextradingcoach.com/?p=3695Sun, 22 Sep 2013 19:26:23 +0000Andrew MitchemPodcast: In this video: 00:29     Having some form of trading plan in place 02:30     Seeing fourteen currency pairs with definite strength and weakness 04:23     A sell trade made a full profit 06:15     My new website Today I want to talk...
In this video:
00:29     Having some form of trading plan in place
02:30     Seeing fourteen currency pairs with definite strength and weakness
04:23     A sell trade made a full profit
06:15     My new website
Today I want to talk about why you need a trading plan to be a successful Forex Trader. Let’s talk about that right now.
Why you need a good trading plan to help you become a successful Forex trader
Hi it’s Andrew Mitchem here the Forex Trading Coach. Welcome along today is Friday the 20th of September. And I want to talk about having a trading plan because you see it’s something that so many people don’t have. Even if it’s a simple piece of paper pinned to your wall behind your screen you need to have some form of trading plan in place. For instance if you’re going to go by a business or a car or a house or go to school, university, you’d had a plan in place and trading is no different. You need to have a plan of how you’re going to trade, what times of the day you’re looking at trading, what time frames, any specifics in terms of the number of trades you might take, the total amount you might have exposed into the market at any one time. Whatever it is you need to have that written down  so that you can refer to that throughout the course of the day and you’ll be amazed if you do that and stick to your rules within your trading. What it will do is it will help eliminate a lot of those losing trades.
I’ll give you an example, I broke my rules once last week and I was talking about this on my webinar last night with my clients and I aimed for a slightly higher profit target than I should have using my rules and it bit me. Look, the trade would have got there and taken my standard profit target quite easily and made just over 2 to 1 risk to reward and I saw another level I broke my rules, the market came back stopped me out first and then went on to where my profit target was but if I hadn’t broken the rules I would have taken profit and been out of the trade. So just go to show everybody makes mistakes, yes, no one’s perfect but have a trading plan in place and stick to it as much as you can and it will really help you.

Looking for some better setups now we've had the Fed Announcement
On to the markets what have we seen? Well we’ve had the Fed Announcement this week and up until that the week before that, it’s just been pretty quite at that especially on the longer term charts. Not been a huge amount of clear direction or huge strength or the weakness in any particular currencies, it’s just been pretty bland out there but now we’ve had that announcement from the feds we’re seeing some clear direction. I’ll give you an example on Monday; I don’t think I took any trades on the daily charts, Monday. On Tuesday I think I took two.
Today I was seeing fourteen currency pairs that I’m looking at definite strength and weakness for today being Friday. So it means that when I’m trading four hourly charts or one hourly charts or anything else, I’ve got fourteen currency pairs that have got a really strong opinion on either looking for predominant buy trades or sell trades. And so it just shows that when the market shows those setups, take the trades, take the opportunities when they show but don’t overtrade and don’t trade just for the sake of trading. If the market’s quiet, if you don’t have a clear opinion and you don’t have any clear direction, don’t take the trade, it’s just simple as that. All you’re doing is losing money from your pocket and feeding your broker. Both of which you don’t really need to do. So that’s in terms of looking at the overall perspective of your trading.

Live trading room webinars – the best place to learn how to trade Forex
As I have just mentioned I held a live webinar for my clients last nigh...]]>432falsefullhttps://www.spreaker.com/episode/how-to-spread-your-risk-when-trading-forex--12239865
In this video:
00:48    Spreading your risk
02:25    A client achieving around 80% accuracy rate
04:33    New Zealand cash rate just announced
05:54    The importance of fundamentals
In today’s video I want to talk about spreading your risk in your trading. Let me tell you more right now.
How to spread your risk when trading Forex
Hi it’s Andrew Mitchem here the Forex Trading Coach. Welcome along, today is Friday the 13th of September. Also special welcome to the four thousand people who listen every single week to my podcast on iTunes so whether you're watching on video or listening on iTunes, welcome along.
That’s right today I wanted to talk about spreading your risk and what I mean by that is trade on different time frames if you can and also look at different currency pairs. With the time frames, for example this current week I’ve had a losing week on the daily charts, I’ve had some losing trades all up and net loss. Yet overall I’m still up on my trading account this week because I’m also trading on the four hourly charts and the one hourly charts because they’re what suits me. So if you’re able to don’t just rely on one time frame because you’re not going to find that time frame performance well all of the time. Same type of thing with the currencies, don’t just stick to one or two pairs. For me on the daily charts I look through 26 pairs once a day it takes maybe fifteen minutes on the daily charts and that’s it. If I then see strength and weakness within certain currency pairs I then concentrate on those same pairs on the four hourly charts and the one hourly charts for that day so I might be trading some of the major pairs like the EUR/USD, the USD/JPY, USD/CHF etc., and also I might be trading some of the more minor pairs like the EUR/CAD or the AUD/NZD, the CAD/CHF, a lot of sort of more minor pairs as well as the majors. And so what that is doing is it’s not having all my trading correlated to the USD like most of the major pairs are. So it’s two different ways there that you can spread your risk within your trading and it’s what suits you remember.

Trade according to what suits you
I give you another example, I’ve had an email from a client this week who’s been with me for several months now and he said, “Andrew I’m just having some incredible results trading five minute charts.” He’s using one of my continuation patterns that I use and so in other words he’s looking for an uptrend, a pull back and then looking to go long again after a pull back of the uptrend and he stated in an email to me this week that he is achieving around an 80% accuracy rate so 80% win rate on his trades just by following this continuation pattern but he likes to trade five minute charts. They don’t suit me and they may not suit you but if they do, if they suit you, fantastic but equally I can trade that same pattern on an hourly chart or four hourly chart or even daily chart, weekly chart if you want to go longer. So it’s all about what suits you. This particular person just loves looking at charts for about couple of hours a day just on five minute charts, trading with the strongest or weakest pairs, looking for strong trends, looking for pull backs and then heading in the same direction again but an 80% accuracy rate you can’t argue with that, fantastic.

Would you like to speak with one of my clients?
Other news I want to share with you this week, I’ve also had an email from a client in the US who’s extremely happy with my course and he’s been kind enough to offer his email address and his time by phone to anybody who’s genuinely interested in to take my course so it probably applies more if you’re in the US or Canada let’s say but if you’re sitting on the fence you’re not quite sure and you’d like to have the opportunity to talk with someone on the...]]>http://theforextradingcoach.com/?p=3667Sun, 15 Sep 2013 00:58:24 +0000Andrew MitchemPodcast: In this video: 00:48    Spreading your risk 02:25    A client achieving around 80% accuracy rate 04:33    New Zealand cash rate just announced 05:54    The importance of fundamentals In today’s video I want to talk about spreading your...
In this video:
00:48    Spreading your risk
02:25    A client achieving around 80% accuracy rate
04:33    New Zealand cash rate just announced
05:54    The importance of fundamentals
In today’s video I want to talk about spreading your risk in your trading. Let me tell you more right now.
How to spread your risk when trading Forex
Hi it’s Andrew Mitchem here the Forex Trading Coach. Welcome along, today is Friday the 13th of September. Also special welcome to the four thousand people who listen every single week to my podcast on iTunes so whether you're watching on video or listening on iTunes, welcome along.
That’s right today I wanted to talk about spreading your risk and what I mean by that is trade on different time frames if you can and also look at different currency pairs. With the time frames, for example this current week I’ve had a losing week on the daily charts, I’ve had some losing trades all up and net loss. Yet overall I’m still up on my trading account this week because I’m also trading on the four hourly charts and the one hourly charts because they’re what suits me. So if you’re able to don’t just rely on one time frame because you’re not going to find that time frame performance well all of the time. Same type of thing with the currencies, don’t just stick to one or two pairs. For me on the daily charts I look through 26 pairs once a day it takes maybe fifteen minutes on the daily charts and that’s it. If I then see strength and weakness within certain currency pairs I then concentrate on those same pairs on the four hourly charts and the one hourly charts for that day so I might be trading some of the major pairs like the EUR/USD, the USD/JPY, USD/CHF etc., and also I might be trading some of the more minor pairs like the EUR/CAD or the AUD/NZD, the CAD/CHF, a lot of sort of more minor pairs as well as the majors. And so what that is doing is it’s not having all my trading correlated to the USD like most of the major pairs are. So it’s two different ways there that you can spread your risk within your trading and it’s what suits you remember.

Trade according to what suits you
I give you another example, I’ve had an email from a client this week who’s been with me for several months now and he said, “Andrew I’m just having some incredible results trading five minute charts.” He’s using one of my continuation patterns that I use and so in other words he’s looking for an uptrend, a pull back and then looking to go long again after a pull back of the uptrend and he stated in an email to me this week that he is achieving around an 80% accuracy rate so 80% win rate on his trades just by following this continuation pattern but he likes to trade five minute charts. They don’t suit me and they may not suit you but if they do, if they suit you, fantastic but equally I can trade that same pattern on an hourly chart or four hourly chart or even daily chart, weekly chart if you want to go longer. So it’s all about what suits you. This particular person just loves looking at charts for about couple of hours a day just on five minute charts, trading with the strongest or weakest pairs, looking for strong trends, looking for pull backs and then heading in the same direction again but an 80% accuracy rate you can’t argue with that, fantastic.

Would you like to speak with one of my clients?
Other news I want to share with you this week, I’ve also had an email from a client in the US who’s extremely happy with my course and he’s been kind enough to offer his email address and his time by phone to anybody who’s genuinely interested in to take my course so it probably applies more if you’re in the US or Canada let’s say but if you’re sitting on the fence you’re not quite sure and you’d like to have the opportunity to talk with someone on the...]]>412falsefullhttps://www.spreaker.com/episode/are-you-spending-too-much-time-watching-your-charts--12239866
In this video:
00:24   Talking about trying to get you to trade less
01:29   You can trade 2 or 3 time per day www.TheForexTradingCoach.com 
03:01   Trading needs to be fun
04:19   10.4% net gain over the last two weeks
05:23   Partnership with AxiTrader

Are You Spending Too Much Time at Your Computer and Watching Your Charts?
Do you find that you’re spending too much time at your computer and at your charts watching for setups and not spending enough quality time enjoying your life?  If that’s you, I’ve got the perfect solution for you.  Let me tell you more right now.
Hi this is Andrew Mitchem here, the Forex Trading Coach, today is Friday the 6th of September.
And that’s right I want to talk about trying to get you to trade less.  You see, I get emails all the time people telling me that they’re scalping on short time frame charts, and saying, “Look Andrew how can I have more clarity in my trading, how do I know when to enter, when to exit, what levels to trade, what pairs, what time frames, etc.”, and it all comes down to the same solution:  trade less; trade higher time frames.  You see for me, apart from the daily charts, my next favourite time frames are the four hourly charts.  And I want to spend some time now talking about four hourly charts and why I like them.
You see, the great thing is with them, is that you can plan your day around it.  I know that I don’t need to be back at my screen here until probably into the European session, for me, until the next four hours has passed.  And the great thing is, I look at my charts, when the four hour charts change over, every four hours, and if there are no good setups there then I simply don’t take any trades and I go and do whatever it is I want to do for the next four hours before I need to come back again.  

Look at trading 2 or 3 times per day – when it suits you
Now, of course you can’t take trades every four hours or else you’d never get any decent sleep, but it allows me for my time to trade at 9 o’clock, 1 o’clock, 5 o’clock and 9 o’clock.  So that’s 9 o’clock in the morning until 9 o’clock at night, looking just four times within the day, and for me here in New Zealand that covers the Asian session and the early part of the European session.
If you’re elsewhere throughout Asia or into Europe or into America, you’ll have different times of the day when you can and cannot trade, depending on your work, your family, your life etc.  But there’s probably two, if not three, times in the day when you’d be able to get near a computer and take four hour chart trades – if and when they show good setups.  The great thing is you know when there’s a setup coming in terms of you can’t take a trade when a candle hasn’t closed so on every four hours there’s a potential trade there.  In between there’s nothing, so go away, leave the computer alone, and get away from those real short time-frame trades.

Trading Should be Fun
A lot of people, again, they find that indecision of not knowing when to trade because they’re looking for indicator A across indicator B and it could happen at any time.  Or they have to trade at certain times of the day on real short time-frame charts.  Stick to the four-hourlies, stick to the dailies.  If you want to go anything shorter, I’d personally trade the one-hourly charts, but for me it’s generally only in the European session when there’s more activity, for looking maybe three or four candles in the evening my time, early European session.  And that’s it, it just means you can go and enjoy your life.  Trading needs to be fun.]]>http://theforextradingcoach.com/?p=3653Sun, 08 Sep 2013 08:35:19 +0000Andrew MitchemPodcast: In this video: 00:24   Talking about trying to get you to trade less 01:29   You can trade 2 or 3 time per day www.TheForexTradingCoach.com  03:01   Trading needs to be fun 04:19   10.4% net gain over the last two weeks 05:23  ...
In this video:
00:24   Talking about trying to get you to trade less
01:29   You can trade 2 or 3 time per day www.TheForexTradingCoach.com 
03:01   Trading needs to be fun
04:19   10.4% net gain over the last two weeks
05:23   Partnership with AxiTrader

Are You Spending Too Much Time at Your Computer and Watching Your Charts?
Do you find that you’re spending too much time at your computer and at your charts watching for setups and not spending enough quality time enjoying your life?  If that’s you, I’ve got the perfect solution for you.  Let me tell you more right now.
Hi this is Andrew Mitchem here, the Forex Trading Coach, today is Friday the 6th of September.
And that’s right I want to talk about trying to get you to trade less.  You see, I get emails all the time people telling me that they’re scalping on short time frame charts, and saying, “Look Andrew how can I have more clarity in my trading, how do I know when to enter, when to exit, what levels to trade, what pairs, what time frames, etc.”, and it all comes down to the same solution:  trade less; trade higher time frames.  You see for me, apart from the daily charts, my next favourite time frames are the four hourly charts.  And I want to spend some time now talking about four hourly charts and why I like them.
You see, the great thing is with them, is that you can plan your day around it.  I know that I don’t need to be back at my screen here until probably into the European session, for me, until the next four hours has passed.  And the great thing is, I look at my charts, when the four hour charts change over, every four hours, and if there are no good setups there then I simply don’t take any trades and I go and do whatever it is I want to do for the next four hours before I need to come back again.  

Look at trading 2 or 3 times per day – when it suits you
Now, of course you can’t take trades every four hours or else you’d never get any decent sleep, but it allows me for my time to trade at 9 o’clock, 1 o’clock, 5 o’clock and 9 o’clock.  So that’s 9 o’clock in the morning until 9 o’clock at night, looking just four times within the day, and for me here in New Zealand that covers the Asian session and the early part of the European session.
If you’re elsewhere throughout Asia or into Europe or into America, you’ll have different times of the day when you can and cannot trade, depending on your work, your family, your life etc.  But there’s probably two, if not three, times in the day when you’d be able to get near a computer and take four hour chart trades – if and when they show good setups.  The great thing is you know when there’s a setup coming in terms of you can’t take a trade when a candle hasn’t closed so on every four hours there’s a potential trade there.  In between there’s nothing, so go away, leave the computer alone, and get away from those real short time-frame trades.

Trading Should be Fun
A lot of people, again, they find that indecision of not knowing when to trade because they’re looking for indicator A across indicator B and it could happen at any time.  Or they have to trade at certain times of the day on real short time-frame charts.  Stick to the four-hourlies, stick to the dailies.  If you want to go anything shorter, I’d personally trade the one-hourly charts, but for me it’s generally only in the European session when there’s more activity, for looking maybe three or four candles in the evening my time, early European session.  And that’s it, it just means you can go and enjoy your life.  Trading needs to be fun.]]>396falsefullhttps://www.spreaker.com/episode/do-you-have-the-correct-mindset-to-be-a-good-trader--12239868
In this video:
00:24    The psychology behind trading
01:48    Understanding what’s happening in the market
03:58    Trading knowledge posted for free at Forex Peace Army
06:07    Setting of rules and a structure for successful trading
07:08    Made 3.7 Reward:Risk on a one hour chart trade
 
Do you have the right mind set to be a successful Forex Trader? 
Do you have the right mind set to be a successful Forex Trader? Let me show more details with you right now.
Hi it’s Andrew Mitchem here the Forex Trading Coach and today I want to talk about having the correct mind set in order to be a successful Forex Trader. You see the whole psychology behind trading is something that’s almost like a bit of a dull subject, it’s not that particularly interesting and it’s the part of any strategy or any course and eBook that people to skip over because you want to get the nitty gritty, you want to get to the actual strategy itself. But I’m here to tell you that there are so many people that I get emails from, phone correspondents, have Skype conversations with or have met in person that really are not the right sort people who should be trading and it’s important for you to understand that you need to have the right mind set in order to be a successful Forex Trader.
I want to share to you some examples of what you do need in order to be a good trader.  It’s not for everybody regardless of how fantastic a market it is and all the lifestyle benefits and the passive income benefits that Forex Trading offers, it really is not for everybody. So you need to be sure that this is the right thing.

Do you have a Passion for trading Forex?
Number one I suppose you also need to have a passion for it. You really need to be excited by Forex Trading what’s going on at the charts here behind me. It’s going to be something that you’re really interested in. When it’s the weekends I can’t trade and I almost upset that I can’t trade. Most people when it gets to weekend you know they’re all fantastic, you know it’s Friday night, no more work for two days. For me it’s the opposite because I love trading. It’s the same at the beginning of the week, you know I’m really buzzing; I’m really excited again because I can get back into trading again.
So you got to be passionate about it and understand what’s happening in the markets and what the charts are telling you and have a real interest in it because that’s number one importance but when it comes to the mind set you got to be consistent  person. You can’t be erratic jumping from different charts, at different charts trading different times of the day, different timeframes. You know there are so many people that will say to me, “Hi Andrew, what would be the benefit of adding an ABC indicator to your system?” I say, “You don’t need to, you know don’t reinvent the wheel.”
So many people find with any strategy that all of a sudden if it doesn’t work for one or two trades or one or two days then they’ll start optimizing it. They’ll then start adding another indicator or another something to that strategy to try and change it because you have to think as an investor. Don’t forget, that good Forex Trading is not a get rich quick scheme, it really isn’t. If that’s your mind set if you think that you’re going to want it double your account every couple of months, don’t trade Forex. Well certainly don’t ask me to help to teach you because I don’t want that sort of person as a client. Because I know the end result is almost certainly failure. Sorry to be blunt but if you’re the sort of person that says “I only got $500 and therefore I need to trade at like three standard lots per trade because I need to make more money” you’re the wrong sort of person. You shouldn’t be doing it.]]>http://theforextradingcoach.com/?p=3632Sun, 01 Sep 2013 00:43:41 +0000Andrew MitchemPodcast: In this video: 00:24    The psychology behind trading 01:48    Understanding what’s happening in the market 03:58    Trading knowledge posted for free at Forex Peace Army 06:07    Setting of rules and a structure for successful trading...
In this video:
00:24    The psychology behind trading
01:48    Understanding what’s happening in the market
03:58    Trading knowledge posted for free at Forex Peace Army
06:07    Setting of rules and a structure for successful trading
07:08    Made 3.7 Reward:Risk on a one hour chart trade
 
Do you have the right mind set to be a successful Forex Trader? 
Do you have the right mind set to be a successful Forex Trader? Let me show more details with you right now.
Hi it’s Andrew Mitchem here the Forex Trading Coach and today I want to talk about having the correct mind set in order to be a successful Forex Trader. You see the whole psychology behind trading is something that’s almost like a bit of a dull subject, it’s not that particularly interesting and it’s the part of any strategy or any course and eBook that people to skip over because you want to get the nitty gritty, you want to get to the actual strategy itself. But I’m here to tell you that there are so many people that I get emails from, phone correspondents, have Skype conversations with or have met in person that really are not the right sort people who should be trading and it’s important for you to understand that you need to have the right mind set in order to be a successful Forex Trader.
I want to share to you some examples of what you do need in order to be a good trader.  It’s not for everybody regardless of how fantastic a market it is and all the lifestyle benefits and the passive income benefits that Forex Trading offers, it really is not for everybody. So you need to be sure that this is the right thing.

Do you have a Passion for trading Forex?
Number one I suppose you also need to have a passion for it. You really need to be excited by Forex Trading what’s going on at the charts here behind me. It’s going to be something that you’re really interested in. When it’s the weekends I can’t trade and I almost upset that I can’t trade. Most people when it gets to weekend you know they’re all fantastic, you know it’s Friday night, no more work for two days. For me it’s the opposite because I love trading. It’s the same at the beginning of the week, you know I’m really buzzing; I’m really excited again because I can get back into trading again.
So you got to be passionate about it and understand what’s happening in the markets and what the charts are telling you and have a real interest in it because that’s number one importance but when it comes to the mind set you got to be consistent  person. You can’t be erratic jumping from different charts, at different charts trading different times of the day, different timeframes. You know there are so many people that will say to me, “Hi Andrew, what would be the benefit of adding an ABC indicator to your system?” I say, “You don’t need to, you know don’t reinvent the wheel.”
So many people find with any strategy that all of a sudden if it doesn’t work for one or two trades or one or two days then they’ll start optimizing it. They’ll then start adding another indicator or another something to that strategy to try and change it because you have to think as an investor. Don’t forget, that good Forex Trading is not a get rich quick scheme, it really isn’t. If that’s your mind set if you think that you’re going to want it double your account every couple of months, don’t trade Forex. Well certainly don’t ask me to help to teach you because I don’t want that sort of person as a client. Because I know the end result is almost certainly failure. Sorry to be blunt but if you’re the sort of person that says “I only got $500 and therefore I need to trade at like three standard lots per trade because I need to make more money” you’re the wrong sort of person. You shouldn’t be doing it.]]>502falsefullhttps://www.spreaker.com/episode/how-you-can-trade-less-and-make-more--12239867
In this video:
00:27   The secret – don't trade Mondays
01:53   The most reliable days for Forex trading
03:23   Seeing a lot of strength in the USD
04:07   Overall a good trading week with over 2.5% gain
05:32   Keeping you out of poor trades
Hi in today’s video I am going to show you how you can trade less and make more. Sounds attractive, doesn’t it?
Let’s get into it.
How You Can Trade Less and Make More
Hi it’s Andrew Mitchem here from the Forex Trading Coach. Welcome along today is Friday the 23rd of August 2013. And that is right I want to tell you how you can trade less and make more. It sounds really good; so the secret is don't trade Mondays. And so it is something that I have been contemplating for quite a while and it’s something as a trader; I still like to trade every day and but I’m learning over time that Mondays are just a such a unpredictable day. And so that is 5 p.m. Sunday when the market opens in New York time onwards but for me here in New Zealand that’s Monday morning.
And so I'm looking at stopping trading on the longer timeframe charts, on the daily charts and making strength and weakness analysis on a Monday. The problem is that when I'm doing that I'm looking at Fridays completed day and I'm also comparing Friday with Thursday at times as well. And on the Friday or many times on a Friday the US has news announcements that can affect the currencies quite a lot towards the end of the week.
The other problem of course is we have the weekend, and sentiment changes over the weekend. A lot of things globally can happen and then when the market opens up on a Sunday night American time, Monday morning Wellington time – so much could have happened. And when the market opens into the Asian session, and then European session, onto the US session things can completely change in the sentiment and the thoughts of traders; than what they were thinking back last weekend to last Thursday and Friday.
 
The Best Days To Trade Forex
So I'm finding that the most reliable days: Tuesday, Wednesday, Thursday and Friday; without a doubt. If I had to choose three out of those it would be Tuesday, Wednesday, and Thursday but Friday I'm still finding really good. Most of the time, I am closing on a Friday night my time before the US session even starts. At the very latest I'm closing before the end of the week, but if you want to have some more time have yourself a three day weekend.
You know how fantastic would that be just to have three days; Sunday, Saturday, Monday no trades at all. If you do want to trade on Mondays then I'm generally looking at the shorter timeframe charts, and actually trading what you see  occur at the time without too many preconceived ideas of where the currency should be going. Let the market decide and let the sentiment do its thing for the beginning of the new week and then as giving your guide heading into Tuesday onwards where the currencies the strengths and weaknesses and different currencies are likely to be heading later into the week. So that just save you a full days trading; made you a four day trader then that's just a great thing to happen.
 
A Great USD/CAD H1 Chart Trade with a 2.2:1 Reward:Risk
The other thing I want to talk about is the webinar that I held yesterday for my clients. I took four live trades myself during the webinar and had a trade on the USD/CAD just closed right now for 2.2 risk to reward trade. It was taken on the hourly chart trading in the direction of the daily so trading buy position on the US cad because I could see a lot of strength in the USD and a lot of weakness in the CAD. Put the 2 together and I was looking for the buy trades on the US c...]]>http://theforextradingcoach.com/?p=3594Sun, 25 Aug 2013 03:03:30 +0000Andrew MitchemPodcast: In this video: 00:27   The secret – don't trade Mondays 01:53   The most reliable days for Forex trading 03:23   Seeing a lot of strength in the USD 04:07   Overall a good trading week with over 2.5% gain 05:32   Keeping you out of poor...
In this video:
00:27   The secret – don't trade Mondays
01:53   The most reliable days for Forex trading
03:23   Seeing a lot of strength in the USD
04:07   Overall a good trading week with over 2.5% gain
05:32   Keeping you out of poor trades
Hi in today’s video I am going to show you how you can trade less and make more. Sounds attractive, doesn’t it?
Let’s get into it.
How You Can Trade Less and Make More
Hi it’s Andrew Mitchem here from the Forex Trading Coach. Welcome along today is Friday the 23rd of August 2013. And that is right I want to tell you how you can trade less and make more. It sounds really good; so the secret is don't trade Mondays. And so it is something that I have been contemplating for quite a while and it’s something as a trader; I still like to trade every day and but I’m learning over time that Mondays are just a such a unpredictable day. And so that is 5 p.m. Sunday when the market opens in New York time onwards but for me here in New Zealand that’s Monday morning.
And so I'm looking at stopping trading on the longer timeframe charts, on the daily charts and making strength and weakness analysis on a Monday. The problem is that when I'm doing that I'm looking at Fridays completed day and I'm also comparing Friday with Thursday at times as well. And on the Friday or many times on a Friday the US has news announcements that can affect the currencies quite a lot towards the end of the week.
The other problem of course is we have the weekend, and sentiment changes over the weekend. A lot of things globally can happen and then when the market opens up on a Sunday night American time, Monday morning Wellington time – so much could have happened. And when the market opens into the Asian session, and then European session, onto the US session things can completely change in the sentiment and the thoughts of traders; than what they were thinking back last weekend to last Thursday and Friday.
 
The Best Days To Trade Forex
So I'm finding that the most reliable days: Tuesday, Wednesday, Thursday and Friday; without a doubt. If I had to choose three out of those it would be Tuesday, Wednesday, and Thursday but Friday I'm still finding really good. Most of the time, I am closing on a Friday night my time before the US session even starts. At the very latest I'm closing before the end of the week, but if you want to have some more time have yourself a three day weekend.
You know how fantastic would that be just to have three days; Sunday, Saturday, Monday no trades at all. If you do want to trade on Mondays then I'm generally looking at the shorter timeframe charts, and actually trading what you see  occur at the time without too many preconceived ideas of where the currency should be going. Let the market decide and let the sentiment do its thing for the beginning of the new week and then as giving your guide heading into Tuesday onwards where the currencies the strengths and weaknesses and different currencies are likely to be heading later into the week. So that just save you a full days trading; made you a four day trader then that's just a great thing to happen.
 
A Great USD/CAD H1 Chart Trade with a 2.2:1 Reward:Risk
The other thing I want to talk about is the webinar that I held yesterday for my clients. I took four live trades myself during the webinar and had a trade on the USD/CAD just closed right now for 2.2 risk to reward trade. It was taken on the hourly chart trading in the direction of the daily so trading buy position on the US cad because I could see a lot of strength in the USD and a lot of weakness in the CAD. Put the 2 together and I was looking for the buy trades on the US c...]]>350falsefullhttps://www.spreaker.com/episode/exhaustion-candles-why-you-should-look-for-them-and-how-they-really-help-you-with-your-trading--12239869In this video:
00:25 Something to keep a good eye at for on your technical charts – Exhaustion Candles
01:48 Look at my Product’s page to help you trade
03:27 Trade what you see and not what you think
05:40 How to help you gain like 4% for the week
06:53 95% new clients took the online video course
In this video I want to tell you all about exhaustion candles and why you should look out for them in your trading.
Exhaustion Candles – What they mean and why you should look for them in your trading
Hi again its Andrew Mitchem here in the Foreign Exchange Trading Coach Today is Friday the 16th of August. I want to talk about exhaustion candles. Something I said on last weeks video, I talked about on this weeks video and its something you really need to keep a good eye out for on your technical charts and they do help you with the trading. I talked about this a lot on my live 2 hour webinar with my clients last Thursday and its something I want to share with you now.
Now exhaustion candles are not something you can take an actual trade on, a new trade, but they do give you an enormous amount of information and give a lot of clues about what is happening in the market and what the sentiment is in the market right now. Are there more buyers, are there more sellers, what is happening. Really the exhaustion candles and the indecision candles mean there is likely to be a stalling in the current trend. Now that doesn’t always mean to say there is going to be a complete reversal in the trend we still need confirmation to back that up and justify that thought but there are several ways you can use the exhaustion candles. Of course you still need them to have them occur at the right part of the charts so you are looking at bouncing at round numbers or pivot points, previous highs and lows etc. So its not just an indecision candle is the same as the next one and its all to do with the quality of the candle and where it appears in the chart. And that is something I teach extensively in my course and help my clients with. If it is something you would like to know please have a look through my website. Look at my Products page and look at the information there regarding the course and how I can help you trade.
A Clue to what may be happening in the Market
Basically an indecision candle says that neither the buyers nor sellers want what is within that candle. An exhaustion candles tells us we are likely to see a trend stalling. If we didn’t get a confirmation let’s say in a buy in an uptrend and we  get an indecision or an exhaustion candle at a round number lets say and then we get a confirmation candle to go short, that gives us our exhaustion then our confirmation. You may just find with the indecision candle the markets are stalling after previous moves it may stall and then you get the confirmation to continue the trend upwards. So use the exhaustion and indecision candles to give you a clue of what may be coming next.
If your already in an existing trade and the indecision or exhaustion candle happens at a previous swing high and happens to be a round number then that could give you a clue as this market may be reversing. Now is the time to close part of the trade or all of the trade especially on a shorter time frame charts because the market may just be turning around and my profit target is up here and still not been reached yet and may not be actually be hit. So use those candles. Go back again and look at the charts see indecision, Doji style candles, pin bars, hanging man candles, because they may really give you a clue as to what is coming next.]]>http://theforextradingcoach.com/?p=3558Sun, 18 Aug 2013 19:55:40 +0000Andrew MitchemPodcast: In this video: 00:25 Something to keep a good eye at for on your technical charts – Exhaustion Candles 01:48 Look at my Product’s page to help you trade 03:27 Trade what you see and not what you think 05:40 How to help you gain like 4%...In this video:
00:25 Something to keep a good eye at for on your technical charts – Exhaustion Candles
01:48 Look at my Product’s page to help you trade
03:27 Trade what you see and not what you think
05:40 How to help you gain like 4% for the week
06:53 95% new clients took the online video course
In this video I want to tell you all about exhaustion candles and why you should look out for them in your trading.
Exhaustion Candles – What they mean and why you should look for them in your trading
Hi again its Andrew Mitchem here in the Foreign Exchange Trading Coach Today is Friday the 16th of August. I want to talk about exhaustion candles. Something I said on last weeks video, I talked about on this weeks video and its something you really need to keep a good eye out for on your technical charts and they do help you with the trading. I talked about this a lot on my live 2 hour webinar with my clients last Thursday and its something I want to share with you now.
Now exhaustion candles are not something you can take an actual trade on, a new trade, but they do give you an enormous amount of information and give a lot of clues about what is happening in the market and what the sentiment is in the market right now. Are there more buyers, are there more sellers, what is happening. Really the exhaustion candles and the indecision candles mean there is likely to be a stalling in the current trend. Now that doesn’t always mean to say there is going to be a complete reversal in the trend we still need confirmation to back that up and justify that thought but there are several ways you can use the exhaustion candles. Of course you still need them to have them occur at the right part of the charts so you are looking at bouncing at round numbers or pivot points, previous highs and lows etc. So its not just an indecision candle is the same as the next one and its all to do with the quality of the candle and where it appears in the chart. And that is something I teach extensively in my course and help my clients with. If it is something you would like to know please have a look through my website. Look at my Products page and look at the information there regarding the course and how I can help you trade.
A Clue to what may be happening in the Market
Basically an indecision candle says that neither the buyers nor sellers want what is within that candle. An exhaustion candles tells us we are likely to see a trend stalling. If we didn’t get a confirmation let’s say in a buy in an uptrend and we  get an indecision or an exhaustion candle at a round number lets say and then we get a confirmation candle to go short, that gives us our exhaustion then our confirmation. You may just find with the indecision candle the markets are stalling after previous moves it may stall and then you get the confirmation to continue the trend upwards. So use the exhaustion and indecision candles to give you a clue of what may be coming next.
If your already in an existing trade and the indecision or exhaustion candle happens at a previous swing high and happens to be a round number then that could give you a clue as this market may be reversing. Now is the time to close part of the trade or all of the trade especially on a shorter time frame charts because the market may just be turning around and my profit target is up here and still not been reached yet and may not be actually be hit. So use those candles. Go back again and look at the charts see indecision, Doji style candles, pin bars, hanging man candles, because they may really give you a clue as to what is coming next.]]>461falsefullhttps://www.spreaker.com/episode/why-you-should-avoid-trading-into-these-price-levels--12239870 
In this video I talk through the price levels you should avoid trading into and doing this will dramatically increase the likelihood of your trades working. 
 
In this video:
00:57  The importance of not trading into round numbers
02:20  How to increase the likelihood of your trades from working
03:15  Seeing some strength in the GBP and the JPY
04:36  4 webinar times to choose from each week
In this video I’m going to talk about what price levels you should avoid trading into.
So let’s get into it.
Hi this is Andrew Mitchem here, the Forex Trading Coach, welcome along. Today is Friday, the 9th of August and that’s right I’m going to be talking about what price levels you should actually avoid trading into. I’m going to be talking about support and resistance levels but so many people talk about support and resistance and really when it comes to looking at that on a live chart what on earth do people mean. You know, there are so many different variables by what you could mean by the word support and resistance so I like to make things an absolute. I do look at support and resistance levels. I look at pivot points. I look at candles swing highs, swing lows etc. All of that is really important but the thing I want to concentrate talking about on this video and really share with you because it’s such valuable information is talking about the importance of not trading into round numbers.

Round Numbers and Why You Should Use Them In Your Trading
Round numbers are something that I call a number that ends in a double zero or a fifty (00 or 50). Go ahead and have a look at your charts and you will see that time and time again that every time that the price goes up to a certain level and stalls or bounces it usually bounces at a round number. So let’s say for instance, the NZD would bounce at 0.8000 or it may come down to 0.7900 or it might then bounce at 0.8050. So always look for those 50’s or those 00’s on whatever currency pay you’re looking at, whatever time frame.
So when at the beginning I’m calling this video “What you should avoid trading into?” What you don’t want to be doing let’s say, take a by position on the NZD at 0.7995 let’s say. You’re buying right into that round number, that huge resistance level caused by that round number. The opposite, if you’re selling, let’s say that the NZD against the US was 0.8010 or 0.8005 or somewhere round about that you wouldn’t want to be selling, trading into that round number. So that’s what I mean by levels that you should avoid buying or selling into. Keep that out of your trading and that will dramatically increase the likelihood of your trades from working.
 
Use Round Numbers To Help With Your Profit Targets and Stop Losses
The same thing when you are looking at profit targets.  Don’t take a profit target let’s say I’m buying at 0.7910 and taking a profit target at 0.8005 or 0.8010. That’s just crazy. What you want to be doing is getting out of the trade before that psychological round number of the 0.8000. So get out of the trade at 0.7990 or 0.7995, somewhere around that if you are buying and looking for a profit target.
Again, go back and look at the charts. Just go over and over charts. Look at those levels; draw them on as horizontal lines. That’s why I love them, because the horizontal lines that anybody can draw on the charts. It’s not subjective like other things maybe like indicators or even trend lines. Horizontal lines are horizontal lines. What you see is the same as what I see. So use those within your trading.

Whats Been Happening On The Charts This Week?
Now on the charts this week we have seen some weakness in the USD and we are seeing some strength in the GBP and the JPY. Today being Friday the JPY looks like it is retracing sl...]]>http://theforextradingcoach.com/?p=3531Sun, 11 Aug 2013 05:32:06 +0000Andrew MitchemPodcast:   In this video I talk through the price levels you should avoid trading into and doing this will dramatically increase the likelihood of your trades working.    In this video: 00:57  The importance of not trading into round numbers 02:20... 
In this video I talk through the price levels you should avoid trading into and doing this will dramatically increase the likelihood of your trades working. 
 
In this video:
00:57  The importance of not trading into round numbers
02:20  How to increase the likelihood of your trades from working
03:15  Seeing some strength in the GBP and the JPY
04:36  4 webinar times to choose from each week
In this video I’m going to talk about what price levels you should avoid trading into.
So let’s get into it.
Hi this is Andrew Mitchem here, the Forex Trading Coach, welcome along. Today is Friday, the 9th of August and that’s right I’m going to be talking about what price levels you should actually avoid trading into. I’m going to be talking about support and resistance levels but so many people talk about support and resistance and really when it comes to looking at that on a live chart what on earth do people mean. You know, there are so many different variables by what you could mean by the word support and resistance so I like to make things an absolute. I do look at support and resistance levels. I look at pivot points. I look at candles swing highs, swing lows etc. All of that is really important but the thing I want to concentrate talking about on this video and really share with you because it’s such valuable information is talking about the importance of not trading into round numbers.

Round Numbers and Why You Should Use Them In Your Trading
Round numbers are something that I call a number that ends in a double zero or a fifty (00 or 50). Go ahead and have a look at your charts and you will see that time and time again that every time that the price goes up to a certain level and stalls or bounces it usually bounces at a round number. So let’s say for instance, the NZD would bounce at 0.8000 or it may come down to 0.7900 or it might then bounce at 0.8050. So always look for those 50’s or those 00’s on whatever currency pay you’re looking at, whatever time frame.
So when at the beginning I’m calling this video “What you should avoid trading into?” What you don’t want to be doing let’s say, take a by position on the NZD at 0.7995 let’s say. You’re buying right into that round number, that huge resistance level caused by that round number. The opposite, if you’re selling, let’s say that the NZD against the US was 0.8010 or 0.8005 or somewhere round about that you wouldn’t want to be selling, trading into that round number. So that’s what I mean by levels that you should avoid buying or selling into. Keep that out of your trading and that will dramatically increase the likelihood of your trades from working.
 
Use Round Numbers To Help With Your Profit Targets and Stop Losses
The same thing when you are looking at profit targets.  Don’t take a profit target let’s say I’m buying at 0.7910 and taking a profit target at 0.8005 or 0.8010. That’s just crazy. What you want to be doing is getting out of the trade before that psychological round number of the 0.8000. So get out of the trade at 0.7990 or 0.7995, somewhere around that if you are buying and looking for a profit target.
Again, go back and look at the charts. Just go over and over charts. Look at those levels; draw them on as horizontal lines. That’s why I love them, because the horizontal lines that anybody can draw on the charts. It’s not subjective like other things maybe like indicators or even trend lines. Horizontal lines are horizontal lines. What you see is the same as what I see. So use those within your trading.

Whats Been Happening On The Charts This Week?
Now on the charts this week we have seen some weakness in the USD and we are seeing some strength in the GBP and the JPY. Today being Friday the JPY looks like it is retracing sl...]]>297falsefullhttps://www.spreaker.com/episode/it-s-time-to-trade-what-you-see-and-not-what-you-think--12239871In this video:
00:20     Trade what you see on the charts
01:02     Great opportunities to go short on the AUD against the USD
02:28     USD today is looking very strong
05:04     How to be a good currency trader
In this video, I want to talk about trading; what you see, not what you think.
So, let’s get into it.
Trade What You See On Your Charts – and Not What You Think
Hi, this is Andrew Mitchem here, the Forex Trading Coach.  Today is Friday, the 2nd of August, and it’s non-farm payrolls day yet again.  But before talking about the non-farm payrolls, I want to talk about, actually, how you read the charts.  There’s a common problem that many people have, it’s they think too much about their trading in terms of the fundamentals.  This came about, I was talking to a person earlier in the week who’s looking at taking my course, and he said to me, “Andrew, you know I’m just concentrating so much on the news, on what’s out there, and I’m missing these moves. How do I overcome that?”  And he was explaining to me how he’s missed all of this huge down trend that’s occurred on the AUD recently.
Now, if you look back on your charts into about April, the AUD against the USD has dropped over sixteen hundred pips, and even in the last week or so, it’s dropped more than four hundred pips so, some great opportunities to go short on the AUD against the USD.  In fact, the Aussie against almost every other currency, there’s been great opportunities to go short recently.  And if you’ve been following my daily strength and weakness analysis, you’ve been seeing that I’ve been mentioning short positions on the Aussie dollar for quite a number of weeks now on most days.  But, this particular person was saying, you know, I’m reading the news, I’m sort of getting e-mails, I’m looking at sort of Forex sites online, I’m watching business news channels, I’m reading it in the newspapers, and this guy was in Australia, and he’s saying, I’m just thinking that the Australian dollars going to go up, and as a result, I’ve missed this entire down trend.
Exactly the same thought process he was telling me on gold.  You know, everybody was saying a couple of years ago, gold and silver’s going to go up and up and up and up, and so every opportunity to go short on gold or silver he’s missed as well.  So, it comes back to the phrase that I’ve used so many times, I’ve used it on these videos, also I’m going to use it on my clients; trade what you see, and not what you think.
I’ll give you another example.   In around twelve hours’ time from right now we have the non-farm payrolls, it being the first Friday of the month, and who knows what the announcements going to say, but I can see right now on my charts that the USD today is looking very strong.  There’s some weakness in the JPY, and there’s also minor weakness in the NZD and Swiss franc.  So, for me, right now, I’m predicting that the USD is likely to keep continuing upwards, therefore you’d expect that  the non-farm payroll announcements probably going to be better than anticipated.
Why Fundamental Trading is Difficult
That’s what the charts are telling me.   But, also think of this, let’s say the dollar does come out way higher than expected, there’s two ways of thinking of it, because whatever the news comes out, whether it be good or bad, there’s always a human interpretation of that news.  So, the news may come out at fifty thousand jobs more than anticipated, let’s say for example, and you may get a whole group of investors and traders that say fantastic, the US is booming because the employment’s just jumped up fifty thousand jobs more than the experts anticipate.
So, therefore, they’re looking at strength in the USD.  On the other side,]]>http://theforextradingcoach.com/?p=3523Sun, 04 Aug 2013 03:08:19 +0000Andrew MitchemPodcast: In this video: 00:20     Trade what you see on the charts 01:02     Great opportunities to go short on the AUD against the USD 02:28     USD today is looking very strong 05:04     How to be a good currency trader In this video, I want to...In this video:
00:20     Trade what you see on the charts
01:02     Great opportunities to go short on the AUD against the USD
02:28     USD today is looking very strong
05:04     How to be a good currency trader
In this video, I want to talk about trading; what you see, not what you think.
So, let’s get into it.
Trade What You See On Your Charts – and Not What You Think
Hi, this is Andrew Mitchem here, the Forex Trading Coach.  Today is Friday, the 2nd of August, and it’s non-farm payrolls day yet again.  But before talking about the non-farm payrolls, I want to talk about, actually, how you read the charts.  There’s a common problem that many people have, it’s they think too much about their trading in terms of the fundamentals.  This came about, I was talking to a person earlier in the week who’s looking at taking my course, and he said to me, “Andrew, you know I’m just concentrating so much on the news, on what’s out there, and I’m missing these moves. How do I overcome that?”  And he was explaining to me how he’s missed all of this huge down trend that’s occurred on the AUD recently.
Now, if you look back on your charts into about April, the AUD against the USD has dropped over sixteen hundred pips, and even in the last week or so, it’s dropped more than four hundred pips so, some great opportunities to go short on the AUD against the USD.  In fact, the Aussie against almost every other currency, there’s been great opportunities to go short recently.  And if you’ve been following my daily strength and weakness analysis, you’ve been seeing that I’ve been mentioning short positions on the Aussie dollar for quite a number of weeks now on most days.  But, this particular person was saying, you know, I’m reading the news, I’m sort of getting e-mails, I’m looking at sort of Forex sites online, I’m watching business news channels, I’m reading it in the newspapers, and this guy was in Australia, and he’s saying, I’m just thinking that the Australian dollars going to go up, and as a result, I’ve missed this entire down trend.
Exactly the same thought process he was telling me on gold.  You know, everybody was saying a couple of years ago, gold and silver’s going to go up and up and up and up, and so every opportunity to go short on gold or silver he’s missed as well.  So, it comes back to the phrase that I’ve used so many times, I’ve used it on these videos, also I’m going to use it on my clients; trade what you see, and not what you think.
I’ll give you another example.   In around twelve hours’ time from right now we have the non-farm payrolls, it being the first Friday of the month, and who knows what the announcements going to say, but I can see right now on my charts that the USD today is looking very strong.  There’s some weakness in the JPY, and there’s also minor weakness in the NZD and Swiss franc.  So, for me, right now, I’m predicting that the USD is likely to keep continuing upwards, therefore you’d expect that  the non-farm payroll announcements probably going to be better than anticipated.
Why Fundamental Trading is Difficult
That’s what the charts are telling me.   But, also think of this, let’s say the dollar does come out way higher than expected, there’s two ways of thinking of it, because whatever the news comes out, whether it be good or bad, there’s always a human interpretation of that news.  So, the news may come out at fifty thousand jobs more than anticipated, let’s say for example, and you may get a whole group of investors and traders that say fantastic, the US is booming because the employment’s just jumped up fifty thousand jobs more than the experts anticipate.
So, therefore, they’re looking at strength in the USD.  On the other side,]]>398falsefullhttps://www.spreaker.com/episode/trading-continuation-patterns-and-the-summertime-blues--12239873Description:
In this video:
00:28    Continuation Patterns – what are they?
02:26    Summertime Blues – what does that mean?
04:27    The strongest currency for this week
05:17    Andrew being in Sydney at the GKR World Champs
 
Continuation Patterns and The Summertime Blues
Let me explain more right now.
Hi it’s Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 26th of July. And continuation patterns and the Summertime Blues are two things that I’d like to talk about in this video. Both are very different but let me start with continuation patterns.
What is a Continuation Pattern?
It’s something that I mentioned yesterday on my live two hour webinar with my clients. And it’s one of the ways that I’m looking at trading. I’m either looking for a reversal pattern or a continuation pattern. Continuation patterns are when, for example, you are buying a currency and you’re seeing the currency go up you then have a retracement and then you’re looking for it to go long again. So you’re waiting for that opportunity to go long in an overall uptrend but after we’ve had a pull back. So that’s what I mean by a continuation pattern.
There are certain things that I’m looking for to back up the candle pattern in terms of where it bounces and why it bounces and what particular levels it bounces at, but when you get a good continuation pattern they’re really good high probability, but also very safe trades. Now they’re safe because you are trading with the main trend. On the chart you’ll find a reversal pattern, so in other words, buying right at the bottom of a large down trend. A reversal pattern looks very dramatic, looks really impressive on your charts, as you’ve pulled out like the bottom and then you’re going long. But the continuation pattern is a safer pattern, because you’ve had that uptrend already, then you’ve had the pull back, then you’re looking to go long again. Exactly the same in reverse for a short position. You’ve had a large sell off, then a pull back a retracement back up, then you’re looking for the opportunity to ride the trend down again in a continuation of the main trend. So really important style of trading there, the continuation pattern.
It tends to act fairly quickly because you are trading with the main trend, so it’s not like a type of trade where you have to be hanging on for a long time. They tend to move fairly quickly once they show. But it’s something that I cover in my course. It’s something that I really encourage my clients to look for, and as I mentioned, it’s something that we spent a lot of time talking about on yesterday’s webinar. So I wanted to pass that information on and share it with you as you’ll find it really helpful when you spot these continuation patterns within your charts.
Trading the Summertime Blues
The other thing that I mentioned, Summertime Blues – what does that mean? Well for me, here, well it’s sort of winter time here really, it’s winter/spring time. But Summertime Blues, because the northern hemisphere, the main trading parts of the world, the Europe, the North America, etc, it’s your summer time. And so you generally find that towards the latter part of July, which you’re in right now, into August, you find that the charts sometimes become a little bit difficult to trade. Some quite erratic patterns sometimes, other times some just very plain, boring, range ban markets. And depending on the pair, we’ve seen both of those for the last couple of weeks.
Many pairs have just been quite tightly range ban, not a lot of good price action happening and it tends to be because the main markets, those European markets, those North American markets, the big players within the Forex market tend to be having their summertime holidays or vacations,]]>http://theforextradingcoach.com/?p=3370Sun, 28 Jul 2013 19:20:04 +0000Andrew MitchemPodcast: Description: In this video: 00:28    Continuation Patterns – what are they? 02:26    Summertime Blues – what does that mean? 04:27    The strongest currency for this week 05:17    Andrew being in Sydney at the GKR World Champs  ...Description:
In this video:
00:28    Continuation Patterns – what are they?
02:26    Summertime Blues – what does that mean?
04:27    The strongest currency for this week
05:17    Andrew being in Sydney at the GKR World Champs
 
Continuation Patterns and The Summertime Blues
Let me explain more right now.
Hi it’s Andrew Mitchem here, the Forex Trading Coach. Today is Friday, the 26th of July. And continuation patterns and the Summertime Blues are two things that I’d like to talk about in this video. Both are very different but let me start with continuation patterns.
What is a Continuation Pattern?
It’s something that I mentioned yesterday on my live two hour webinar with my clients. And it’s one of the ways that I’m looking at trading. I’m either looking for a reversal pattern or a continuation pattern. Continuation patterns are when, for example, you are buying a currency and you’re seeing the currency go up you then have a retracement and then you’re looking for it to go long again. So you’re waiting for that opportunity to go long in an overall uptrend but after we’ve had a pull back. So that’s what I mean by a continuation pattern.
There are certain things that I’m looking for to back up the candle pattern in terms of where it bounces and why it bounces and what particular levels it bounces at, but when you get a good continuation pattern they’re really good high probability, but also very safe trades. Now they’re safe because you are trading with the main trend. On the chart you’ll find a reversal pattern, so in other words, buying right at the bottom of a large down trend. A reversal pattern looks very dramatic, looks really impressive on your charts, as you’ve pulled out like the bottom and then you’re going long. But the continuation pattern is a safer pattern, because you’ve had that uptrend already, then you’ve had the pull back, then you’re looking to go long again. Exactly the same in reverse for a short position. You’ve had a large sell off, then a pull back a retracement back up, then you’re looking for the opportunity to ride the trend down again in a continuation of the main trend. So really important style of trading there, the continuation pattern.
It tends to act fairly quickly because you are trading with the main trend, so it’s not like a type of trade where you have to be hanging on for a long time. They tend to move fairly quickly once they show. But it’s something that I cover in my course. It’s something that I really encourage my clients to look for, and as I mentioned, it’s something that we spent a lot of time talking about on yesterday’s webinar. So I wanted to pass that information on and share it with you as you’ll find it really helpful when you spot these continuation patterns within your charts.
Trading the Summertime Blues
The other thing that I mentioned, Summertime Blues – what does that mean? Well for me, here, well it’s sort of winter time here really, it’s winter/spring time. But Summertime Blues, because the northern hemisphere, the main trading parts of the world, the Europe, the North America, etc, it’s your summer time. And so you generally find that towards the latter part of July, which you’re in right now, into August, you find that the charts sometimes become a little bit difficult to trade. Some quite erratic patterns sometimes, other times some just very plain, boring, range ban markets. And depending on the pair, we’ve seen both of those for the last couple of weeks.
Many pairs have just been quite tightly range ban, not a lot of good price action happening and it tends to be because the main markets, those European markets, those North American markets, the big players within the Forex market tend to be having their summertime holidays or vacations,]]>386falsefullhttps://www.spreaker.com/episode/profit-targets-and-how-to-manage-them--12239872In this video:
00:11    Two reasons why Andrew is in Sydney
01:11    Two ways of managing your trading
02:21    Feedback about experience trading webinars
02:47    What is good trading all about?
 
Let's talk about profit targets now I'm in Sydney.
Hi this is Andrew Mitchem here, the Forex Trading Coach and today is Thursday the 18th of July, and I'm in Sydney here for two reasons:
1. I'm here representing New Zealand at the World Karate Champs and
2. There is the Sydney Forex Expo on this weekend.
Trade Daily Charts When Away
So two reasons to be here.  Remember when it comes to being away, travelling, look at daily charts, concentrate on those it means that you can actually travel and trade.  You don't need to be watching five minute charts, one minute charts – and that's something that so many new people come to me with that problem they're always focused on watching the charts all day and night and basically end up losing money so my advice is always going for those longer time frame charts. When I'm at home it's the one hour charts the four hour charts and the dailies and now I'm travelling like here, it's the daily charts.
Profit Targets and How To Manage Them
Now let's also talk about profit targets.  This time last week, we talked about stop loss placement, another problem that so many people have is where to put the profit target. Now I like to put my profit target in there for a technical reason.
When I've got the trade in, I've got the profit target in there, let the trade do its own thing.  Two ways really of managing it: I prefer to set and forget and leaving the trade alone.  I've placed my profit target there for a reason, so I'm anticipating that the market is going to get it, so let it do its thing.
The other way you could trade of course is to manage the trade slightly on a candle by candle basis.  Let's say you're buying a currency pair and you suddenly saw, after your trade has been in for a number of hours on an hour chart, you see a reversal pattern then that's the time to look at managing the trade.  You can close part of your position, you can completely exit the whole position or you can just move stops up to breaking even or even profit, depending on what the trade is.
So managing your trade is really important as well, and whichever method you take whether it's the management of the trade or the set and forget approach, just do that consistently.  And so, really that's the main thing that I wanted to point out there.  

Use My Free Lot Size Calculator To Help Your Trading
The other thing is, use my lot size calculator, take away pips from your trading, keep your trade having an equal risk doesn't matter what the pair, what the time frame, use that lot size calculator it helps control your emotions within your trading also.
Experience Traders Webinars
And lastly, I wanted to talk about the experience trader’s webinars that I’ve been holding now for a couple of weeks. Just fantastic feedback from people and also people also commenting on really how simple a good trading strategy is. You don't need to over complicate things – some people looking for this hugely over complicated method of trading because people have the idea that the more complicated the strategy the more important and the higher profitable that strategy will be.
Not the case at all, absolutely not the case.  Good trading is about doing the same thing over and over again, and it's about keeping things simple.  So if you've not attended one of my webinars yet, either the newer traders webinar or the experienced traders webinar, make sure you get on those, lots of really good tips and valuable information there.]]>http://theforextradingcoach.com/?p=3363Mon, 22 Jul 2013 23:00:45 +0000Andrew MitchemPodcast: In this video: 00:11    Two reasons why Andrew is in Sydney 01:11    Two ways of managing your trading 02:21    Feedback about experience trading webinars 02:47    What is good trading all about?   Let's talk about profit targets now...In this video:
00:11    Two reasons why Andrew is in Sydney
01:11    Two ways of managing your trading
02:21    Feedback about experience trading webinars
02:47    What is good trading all about?
 
Let's talk about profit targets now I'm in Sydney.
Hi this is Andrew Mitchem here, the Forex Trading Coach and today is Thursday the 18th of July, and I'm in Sydney here for two reasons:
1. I'm here representing New Zealand at the World Karate Champs and
2. There is the Sydney Forex Expo on this weekend.
Trade Daily Charts When Away
So two reasons to be here.  Remember when it comes to being away, travelling, look at daily charts, concentrate on those it means that you can actually travel and trade.  You don't need to be watching five minute charts, one minute charts – and that's something that so many new people come to me with that problem they're always focused on watching the charts all day and night and basically end up losing money so my advice is always going for those longer time frame charts. When I'm at home it's the one hour charts the four hour charts and the dailies and now I'm travelling like here, it's the daily charts.
Profit Targets and How To Manage Them
Now let's also talk about profit targets.  This time last week, we talked about stop loss placement, another problem that so many people have is where to put the profit target. Now I like to put my profit target in there for a technical reason.
When I've got the trade in, I've got the profit target in there, let the trade do its own thing.  Two ways really of managing it: I prefer to set and forget and leaving the trade alone.  I've placed my profit target there for a reason, so I'm anticipating that the market is going to get it, so let it do its thing.
The other way you could trade of course is to manage the trade slightly on a candle by candle basis.  Let's say you're buying a currency pair and you suddenly saw, after your trade has been in for a number of hours on an hour chart, you see a reversal pattern then that's the time to look at managing the trade.  You can close part of your position, you can completely exit the whole position or you can just move stops up to breaking even or even profit, depending on what the trade is.
So managing your trade is really important as well, and whichever method you take whether it's the management of the trade or the set and forget approach, just do that consistently.  And so, really that's the main thing that I wanted to point out there.  

Use My Free Lot Size Calculator To Help Your Trading
The other thing is, use my lot size calculator, take away pips from your trading, keep your trade having an equal risk doesn't matter what the pair, what the time frame, use that lot size calculator it helps control your emotions within your trading also.
Experience Traders Webinars
And lastly, I wanted to talk about the experience trader’s webinars that I’ve been holding now for a couple of weeks. Just fantastic feedback from people and also people also commenting on really how simple a good trading strategy is. You don't need to over complicate things – some people looking for this hugely over complicated method of trading because people have the idea that the more complicated the strategy the more important and the higher profitable that strategy will be.
Not the case at all, absolutely not the case.  Good trading is about doing the same thing over and over again, and it's about keeping things simple.  So if you've not attended one of my webinars yet, either the newer traders webinar or the experienced traders webinar, make sure you get on those, lots of really good tips and valuable information there.]]>202falsefullhttps://www.spreaker.com/episode/a-simple-way-to-manage-open-trades--12239874Description:
In this video:
00:29   A simple solution of managing open trades – Set & Forget
01:34   Trade Management
03:45   Made an incredible +2.9% return in just 24 hours
05:01   Six out of six trades, all hit full profit
                                                                 
How do I manage my open trades?  It’s a question I get asked all the time, so let me show you how I manage my trades.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday, the 12th of July.
How To Manage Open Trades

And that’s right, it’s a question I get asked all the time: How do I manage open trades? And of course there are so many different potential ways of doing that, and it’s something I’d like to share with you how I manage trades and how I teach my clients to manage their open trades. And really it comes down to being quite a simple solution. You see, for me, the way that I like to manage almost all of my trades is on a set and forget policy, or set and forget approach. And what that means is I have my stop loss in place for a reason, for a technical reason. I have my profit target in place for a technical reason, based on everything that I know and understand about the markets.  And then, when I’ve taken that decision to place the trade, I know I have a set loss.  So in other words, I have a set risk amount of my trade that if the trade gets stopped out then I lose X percent and that’s, say, half of one percent.
So that’s on the worst case scenario, the trade gets stopped out. But how do I manage the trade on an ongoing basis? Well, I’ll tried to leave the trade to do its own thing, because it doesn’t matter who you are, where you live, what you know, no one can control the market and so put the profit target in there for a reason and let the trade do its thing because you remove your emotions from your trading when you do that. And so really that’s probably the best approach you can take.
The other way of taking a management decision over your open trades and managing them is to really assess each ongoing chart candle. So in other words, if I’m taking a trade on the daily charts and the trade is still open 24 hours later, I’ll assess the look of the candle and the position of the candle on the daily charts if the trend let’s say, selling a currency pair, and the trend looks like it’s continuing down, then I will let the trend or the trade itself continue in the market, looking to ride it down into the second day.
If I’m taking a trade position on let’s say an hourly chart, I try and check the completion and the look of the bar on the completion of the next hour, so every hour that the trade is in the market. That’s if I’m deciding to manage the trade by actually looking at what’s happening. And so, what you tend to find then, is let’s say we were buying a currency let’s say the Euro USD on a one hour chart and the trade’s looking good, it’s climbing up really nicely, and then all of a sudden I see an exhaustion candle and a potential reversal candle so a bearish candle that looks like the market’s about to tip over and head back down again.
At that time, that’s giving me a clue to say it could be a god opportunity now to close out of this trade, because it looks like the market is going to then head back down against my buy trade. Probably still in some profit at that time but not reached the full profit target. So that’s the other way of doing it. You either completely set and forget, all of your trades, or you manage them on an ongoing basis by monitoring the completion of each next bar, so whether that would that be a 15 minute, an hour, or four hourly, or daily, whatever time frame you were trading.
So I hope that helps you there, but whichever you decide to go, it’s probably best to decide one or the other and stick to that method.]]>http://theforextradingcoach.com/?p=3348Sun, 14 Jul 2013 00:22:14 +0000Andrew MitchemPodcast: Description: In this video: 00:29   A simple solution of managing open trades – Set & Forget 01:34   Trade Management 03:45   Made an incredible +2.9% return in just 24 hours 05:01   Six out of six trades, all hit full profit          ...Description:
In this video:
00:29   A simple solution of managing open trades – Set & Forget
01:34   Trade Management
03:45   Made an incredible +2.9% return in just 24 hours
05:01   Six out of six trades, all hit full profit
                                                                 
How do I manage my open trades?  It’s a question I get asked all the time, so let me show you how I manage my trades.
Hi it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday, the 12th of July.
How To Manage Open Trades

And that’s right, it’s a question I get asked all the time: How do I manage open trades? And of course there are so many different potential ways of doing that, and it’s something I’d like to share with you how I manage trades and how I teach my clients to manage their open trades. And really it comes down to being quite a simple solution. You see, for me, the way that I like to manage almost all of my trades is on a set and forget policy, or set and forget approach. And what that means is I have my stop loss in place for a reason, for a technical reason. I have my profit target in place for a technical reason, based on everything that I know and understand about the markets.  And then, when I’ve taken that decision to place the trade, I know I have a set loss.  So in other words, I have a set risk amount of my trade that if the trade gets stopped out then I lose X percent and that’s, say, half of one percent.
So that’s on the worst case scenario, the trade gets stopped out. But how do I manage the trade on an ongoing basis? Well, I’ll tried to leave the trade to do its own thing, because it doesn’t matter who you are, where you live, what you know, no one can control the market and so put the profit target in there for a reason and let the trade do its thing because you remove your emotions from your trading when you do that. And so really that’s probably the best approach you can take.
The other way of taking a management decision over your open trades and managing them is to really assess each ongoing chart candle. So in other words, if I’m taking a trade on the daily charts and the trade is still open 24 hours later, I’ll assess the look of the candle and the position of the candle on the daily charts if the trend let’s say, selling a currency pair, and the trend looks like it’s continuing down, then I will let the trend or the trade itself continue in the market, looking to ride it down into the second day.
If I’m taking a trade position on let’s say an hourly chart, I try and check the completion and the look of the bar on the completion of the next hour, so every hour that the trade is in the market. That’s if I’m deciding to manage the trade by actually looking at what’s happening. And so, what you tend to find then, is let’s say we were buying a currency let’s say the Euro USD on a one hour chart and the trade’s looking good, it’s climbing up really nicely, and then all of a sudden I see an exhaustion candle and a potential reversal candle so a bearish candle that looks like the market’s about to tip over and head back down again.
At that time, that’s giving me a clue to say it could be a god opportunity now to close out of this trade, because it looks like the market is going to then head back down against my buy trade. Probably still in some profit at that time but not reached the full profit target. So that’s the other way of doing it. You either completely set and forget, all of your trades, or you manage them on an ongoing basis by monitoring the completion of each next bar, so whether that would that be a 15 minute, an hour, or four hourly, or daily, whatever time frame you were trading.
So I hope that helps you there, but whichever you decide to go, it’s probably best to decide one or the other and stick to that method.]]>458falsefullhttps://www.spreaker.com/episode/high-reward-risk-trading--12239875
Description:
In this video:
00:40  Amazing 3.5 to 1 reward to risk trade
01:12  New webinar starting next week for the more experienced traders
03:08  Monday break-out strategy
04:21  USD – the strongest pair for the week
05:02  Trades closed out before the announcement
Well, it’s non-farm payrolls day again today, let’s see what might happen.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach. 
 
High Reward:Risk Trade, 3.5:1 R:R
Today is Friday the 5th of July, and that’s right, it’s Non-Farm Payrolls day yet again, but before we get onto that, I want to mention just a few more things.  Firstly, you may remember from last week’s video, I said at the time I only had one trade open on the daily charts last week, that trade was recommended to my clients as well, with the exact reason for the entry, they take profit and stop loss levels.  
But just wanted to let you know that trade hit the full profit target; it was a buy/trade on the US Japanese Yen, and it made an amazing 3.5 to 1 risk to reward.  So, if you were taking let’s say a 1% risk on that trade, that was a 3.5% return on your account.  Pretty amazing return, considering it’s just one trade that took just maybe ten seconds to place on your platform, and that was it; no scalping or watching the charts all day, just one trade and that was it for the day, but it made really good profit.   So, great end to last week.  
Experience Traders Traders – Starting This Week
This week’s been a little bit trickier, but we’ll get on to that soon.   The second thing I want to mention is the new webinar’s I’m going to be holding starting next week for the more experienced traders.   Now, I’ve been holding webinars for newer traders for several months now, and they’ve been a really big success, a lot of people were just saying thank you and how much they’re enjoying those webinars and how much they learn from them.
And we’re talking about things like the basics of trading for those people; understanding risk and reward, money management, candle patterns, that type of thing.  But the new webinars that I’m holding, they’re going to be the same webinars, just held twice each week so you can so you can choose whatever time zone suits you the best, but the webinars are designed to be for the more experienced traders.
So, really I’m suggesting anybody who’s been trading for maybe say six months through to several years.  If that’s you, if you still haven’t made a success of your Forex Trading yet and you’re still needing to fine tune at the few things, and maybe change a few things in your trading, you need some help with that, then this webinar is designed especially for you.  So, to sign up for that, just come onto my website and click on the tab that says “experienced traders”, and you’ll see the webinar there with two different times each week, choose the time that suits you, and then we’ll take it from there.  And you’re going to really enjoy these webinars and find a lot of useful information from them.
A Tough Trading Week – Independence Day and Non-Farm Payrolls
Onto the trades themselves this week, the charts themselves, it’s been a really tricky week, to be honest, it’s not been easy.  Yesterday we had the US public holiday, Independence Day, today in another few hours’ time we’ve got non-farm payroll.  So, it’s been quite I suppose not a standard, not a normal trading week with those two major events on, and it’s just made the charts quite hard to read.   It’s been something probably a week for the more shorter time frame trader.
 
Accepting Losses Is A Part Of Trading
On the daily charts this week, I’m down 1.4% myself.  My Monday break-out strategy, I made about half of one percent and on my four hour charts, I’m up half of one percent as well.  So,]]>http://theforextradingcoach.com/?p=3328Sun, 07 Jul 2013 06:38:27 +0000Andrew MitchemPodcast: Description: In this video: 00:40  Amazing 3.5 to 1 reward to risk trade 01:12  New webinar starting next week for the more experienced traders 03:08  Monday break-out strategy 04:21  USD – the strongest pair for the week 05:02  Trades...
Description:
In this video:
00:40  Amazing 3.5 to 1 reward to risk trade
01:12  New webinar starting next week for the more experienced traders
03:08  Monday break-out strategy
04:21  USD – the strongest pair for the week
05:02  Trades closed out before the announcement
Well, it’s non-farm payrolls day again today, let’s see what might happen.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach. 
 
High Reward:Risk Trade, 3.5:1 R:R
Today is Friday the 5th of July, and that’s right, it’s Non-Farm Payrolls day yet again, but before we get onto that, I want to mention just a few more things.  Firstly, you may remember from last week’s video, I said at the time I only had one trade open on the daily charts last week, that trade was recommended to my clients as well, with the exact reason for the entry, they take profit and stop loss levels.  
But just wanted to let you know that trade hit the full profit target; it was a buy/trade on the US Japanese Yen, and it made an amazing 3.5 to 1 risk to reward.  So, if you were taking let’s say a 1% risk on that trade, that was a 3.5% return on your account.  Pretty amazing return, considering it’s just one trade that took just maybe ten seconds to place on your platform, and that was it; no scalping or watching the charts all day, just one trade and that was it for the day, but it made really good profit.   So, great end to last week.  
Experience Traders Traders – Starting This Week
This week’s been a little bit trickier, but we’ll get on to that soon.   The second thing I want to mention is the new webinar’s I’m going to be holding starting next week for the more experienced traders.   Now, I’ve been holding webinars for newer traders for several months now, and they’ve been a really big success, a lot of people were just saying thank you and how much they’re enjoying those webinars and how much they learn from them.
And we’re talking about things like the basics of trading for those people; understanding risk and reward, money management, candle patterns, that type of thing.  But the new webinars that I’m holding, they’re going to be the same webinars, just held twice each week so you can so you can choose whatever time zone suits you the best, but the webinars are designed to be for the more experienced traders.
So, really I’m suggesting anybody who’s been trading for maybe say six months through to several years.  If that’s you, if you still haven’t made a success of your Forex Trading yet and you’re still needing to fine tune at the few things, and maybe change a few things in your trading, you need some help with that, then this webinar is designed especially for you.  So, to sign up for that, just come onto my website and click on the tab that says “experienced traders”, and you’ll see the webinar there with two different times each week, choose the time that suits you, and then we’ll take it from there.  And you’re going to really enjoy these webinars and find a lot of useful information from them.
A Tough Trading Week – Independence Day and Non-Farm Payrolls
Onto the trades themselves this week, the charts themselves, it’s been a really tricky week, to be honest, it’s not been easy.  Yesterday we had the US public holiday, Independence Day, today in another few hours’ time we’ve got non-farm payroll.  So, it’s been quite I suppose not a standard, not a normal trading week with those two major events on, and it’s just made the charts quite hard to read.   It’s been something probably a week for the more shorter time frame trader.
 
Accepting Losses Is A Part Of Trading
On the daily charts this week, I’m down 1.4% myself.  My Monday break-out strategy, I made about half of one percent and on my four hour charts, I’m up half of one percent as well.  So,]]>350falsefullhttps://www.spreaker.com/episode/don-t-pay-your-broker--12239876Description:
In this video:
00:26  Few good trade set ups on the daily charts
01:44   Real important lesson for new traders
03:02   Made really good money on yesterday’s webinar
04:41   Looking for predominantly long positions
05:12   Two webinars for more experienced traders
When The Market is Quiet, Don't Pay Your Broker
Let me explain more right now.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach, today is Friday the 28th of June.
And what I mean by that is when you look back at this last week, it’s been an extremely quiet week of trading; it’s been quite difficult to look at daily strengths and weaknesses.  I’ve actually had very few good trade set ups myself on the daily charts.  It’s just been a very quiet week, been a lot of indecision candles on the longer time frame charts, and no real major trends, a lot of trades have bounced at certain support and resistance levels; it’s just been a really quiet week.  And you get that from time to time, and the good thing is we know that with the Forex market if you do get those quiet times, there’s always some good trades not too far away around the corner, so hopefully we’ll get that next week.
The point I wanted to make is if the market’s quiet, the market’s quiet.  You can’t change it.  Of course, you could go down to shorter time frame charts, and I’ll talk about those in a minute, but don’t overtrade.  
 
There are No Prizes for Trading More
I use a catch phrase, or a phrase to my clients, and it’s this: “There are no prizes for trading more.”  And it’s absolutely true; you don’t have to feel like you have to take more and more trades, there’s nothing to be gained or achieved by taking more trades.  All you’re going to do is probably end up losing the majority of them, because you’re taking them for almost the feel or the need or the sake of taking trades, and what you’re going to end up doing, what you’re going to do is feed your broker’s pocket, line your broker’s pocket with what I call clicky-click fees, which are your spread fees you pay to enter a trade.
So, don’t take trades unnecessarily if they’re not there.  Real important lesson, especially for people who are new to trading.
A Fantastic 2 Hour Live Trading Room Webinar
And the other thing I wanted to share with you, I had a fantastic two hour live trading room session with my clients last night my time.  I had a huge number of people attend, like I always do, but it was a particularly good session with quite a number of shorter time frame chart trades taken.  I had a couple on the daily charts that went really well; one in particular was the USD/CHF. Yesterday it made seventy four pips and a two point two risk to reward trade.  Earlier in the week I had a short position on the EUR/AUD, made one hundred and eighty-five pips in a three point four risk to reward.  So, that’s the daily charts, but on the webinar yesterday, we had some great shorter time frame, four hourly trades and one hourly trades taken live in front of people.  In total I had, throughout the session taken live and the few trades that were open before we started, I had twelve trades on those shorter time frames taken; seven were winning trades, hit full profit, and five were losing trades.
High Reward:Risk Ratio Trades
Now, as a win rate, it’s probably not massively high, but the trades averaged a 2.2 to 1 risk to reward, that was their average.  So, I came out of that with some really good money on yesterday’s webinar.  Like I said, the trades were taken live in front of clients.  When I take those trades, I’m showing their count, I’m showing where I’m entering, the position size, obviously talking about the reasons for entering the trade, the stock loss profit target, everything’s fully disclosed and you can see me taking the trades live.
So,]]>http://theforextradingcoach.com/?p=3284Sat, 29 Jun 2013 23:16:19 +0000Andrew MitchemPodcast: Description: In this video: 00:26  Few good trade set ups on the daily charts 01:44   Real important lesson for new traders 03:02   Made really good money on yesterday’s webinar 04:41   Looking for predominantly long positions 05:12  ...Description:
In this video:
00:26  Few good trade set ups on the daily charts
01:44   Real important lesson for new traders
03:02   Made really good money on yesterday’s webinar
04:41   Looking for predominantly long positions
05:12   Two webinars for more experienced traders
When The Market is Quiet, Don't Pay Your Broker
Let me explain more right now.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach, today is Friday the 28th of June.
And what I mean by that is when you look back at this last week, it’s been an extremely quiet week of trading; it’s been quite difficult to look at daily strengths and weaknesses.  I’ve actually had very few good trade set ups myself on the daily charts.  It’s just been a very quiet week, been a lot of indecision candles on the longer time frame charts, and no real major trends, a lot of trades have bounced at certain support and resistance levels; it’s just been a really quiet week.  And you get that from time to time, and the good thing is we know that with the Forex market if you do get those quiet times, there’s always some good trades not too far away around the corner, so hopefully we’ll get that next week.
The point I wanted to make is if the market’s quiet, the market’s quiet.  You can’t change it.  Of course, you could go down to shorter time frame charts, and I’ll talk about those in a minute, but don’t overtrade.  
 
There are No Prizes for Trading More
I use a catch phrase, or a phrase to my clients, and it’s this: “There are no prizes for trading more.”  And it’s absolutely true; you don’t have to feel like you have to take more and more trades, there’s nothing to be gained or achieved by taking more trades.  All you’re going to do is probably end up losing the majority of them, because you’re taking them for almost the feel or the need or the sake of taking trades, and what you’re going to end up doing, what you’re going to do is feed your broker’s pocket, line your broker’s pocket with what I call clicky-click fees, which are your spread fees you pay to enter a trade.
So, don’t take trades unnecessarily if they’re not there.  Real important lesson, especially for people who are new to trading.
A Fantastic 2 Hour Live Trading Room Webinar
And the other thing I wanted to share with you, I had a fantastic two hour live trading room session with my clients last night my time.  I had a huge number of people attend, like I always do, but it was a particularly good session with quite a number of shorter time frame chart trades taken.  I had a couple on the daily charts that went really well; one in particular was the USD/CHF. Yesterday it made seventy four pips and a two point two risk to reward trade.  Earlier in the week I had a short position on the EUR/AUD, made one hundred and eighty-five pips in a three point four risk to reward.  So, that’s the daily charts, but on the webinar yesterday, we had some great shorter time frame, four hourly trades and one hourly trades taken live in front of people.  In total I had, throughout the session taken live and the few trades that were open before we started, I had twelve trades on those shorter time frames taken; seven were winning trades, hit full profit, and five were losing trades.
High Reward:Risk Ratio Trades
Now, as a win rate, it’s probably not massively high, but the trades averaged a 2.2 to 1 risk to reward, that was their average.  So, I came out of that with some really good money on yesterday’s webinar.  Like I said, the trades were taken live in front of clients.  When I take those trades, I’m showing their count, I’m showing where I’m entering, the position size, obviously talking about the reasons for entering the trade, the stock loss profit target, everything’s fully disclosed and you can see me taking the trades live.
So,]]>373falsefullhttps://www.spreaker.com/episode/how-to-trade-continuation-patterns-and-reversal-patterns-in-forex-trading--12239877In this video:
00:40  Reversal Patterns in your trading
02:14   Trading on continuation patterns quite a lot
02:56   Overall +1% up for the week
04:48   Made a 3.6 to 1 risk to reward trade on the daily charts
06:02   Seen some strength in the USD, Swiss Franc and GBP
 
Hi, in this video I’d like to talk about continuation patterns and reversal patterns so let’s start now.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach.
 
Reversal and Continuation Patterns
Today is Friday, the 21st of June. And remember last week I said I was going to talk about continuation patterns or reversal patterns so that’s what I wanted to start with on today’s video. When I’m trading I’m looking for one or the other so in other words if we were in lets say in uptrend at the moment and we saw a pattern to go short and it looks like it’s an over-bought area and we’ll then looking after large uptrend to sell a currency that is what I call a reversal pattern. It looks quite dramatic on your charts because you’re finding that most people are buying a currency and then all of a sudden I’m entering a short position and taking that pattern. But I’m only taking that short position after I’ve got confirmation that it looks like the currency pair that I may have topped out and now it looks like that it’s going to reverse so that’s a reversal pattern.
The continuation patterns, probably a slightly safer pattern and it’s one that I have a couple other indicators and other things I’m looking for to backup the continuation pattern. But overall on a chart this is what we’re looking for.
Let’s say we were in a large uptrend and then we already had that pullback but that pullback goes only so far and so we’re getting like the pullback, say a retracement of the previous uptrend so the retracement back down after an uptrend. And then after we’ve had that pullback down again then what I’m looking at doing is seeing some form of pattern there some form of candle pattern and other indicators, maybe a support resistance bounce whatever it might be but primarily based on a candle pattern saying nows the time to go long again for buying that currency pair after it's had a pullback but bearing in mind that the overall direction has been up then it had a pullback and then we’re looking at going long again.
And so I trade those continuation patterns quite a lot. I find they’re very safe because it means you’re trading with the overall in this case uptrend but after we’ve had the pullback looking at going long again so you are trading with the predominant trend. But its two patterns that I trade I look for all the time, I also teach that on my course. So just wanted to let you be aware of the two types the reversal patterns and the continuation patterns. Two very, very powerful slightly different but very powerful setups to look out for on your charts.
1% account gain this week
On to my trades personally this week. I’ve had a slightly tougher week this week. Had some good trades and a few loosing trades. Overall I’m about +1% up for the week right now and I still have Friday to go, being Friday morning here in New Zealand, we still got the entire day to go. And I have taken quite a numbers of trades today. But overall for the week on my set and forget trades that all my clients get I’m up just over +1% for the week on closed out trades and on a EUR/GBP breakout system that I use, it's set just once a week, it’s a breakout system that’s part of my strategy. I’m up +1.5% on that so that’s a close at +1.5% for the week for a profitable week on that strategy.
But on my other charts on the few other daily charts I’ve taken and some four hourly and it’s a one hourly down around 1.5% for the week and so overall net I’m up just over +1% for the week on closed trades with behind me here a good number o...]]>http://theforextradingcoach.com/?p=3243Sun, 23 Jun 2013 01:08:42 +0000Andrew MitchemPodcast: In this video: 00:40  Reversal Patterns in your trading 02:14   Trading on continuation patterns quite a lot 02:56   Overall +1% up for the week 04:48   Made a 3.6 to 1 risk to reward trade on the daily charts 06:02   Seen some strength...In this video:
00:40  Reversal Patterns in your trading
02:14   Trading on continuation patterns quite a lot
02:56   Overall +1% up for the week
04:48   Made a 3.6 to 1 risk to reward trade on the daily charts
06:02   Seen some strength in the USD, Swiss Franc and GBP
 
Hi, in this video I’d like to talk about continuation patterns and reversal patterns so let’s start now.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach.
 
Reversal and Continuation Patterns
Today is Friday, the 21st of June. And remember last week I said I was going to talk about continuation patterns or reversal patterns so that’s what I wanted to start with on today’s video. When I’m trading I’m looking for one or the other so in other words if we were in lets say in uptrend at the moment and we saw a pattern to go short and it looks like it’s an over-bought area and we’ll then looking after large uptrend to sell a currency that is what I call a reversal pattern. It looks quite dramatic on your charts because you’re finding that most people are buying a currency and then all of a sudden I’m entering a short position and taking that pattern. But I’m only taking that short position after I’ve got confirmation that it looks like the currency pair that I may have topped out and now it looks like that it’s going to reverse so that’s a reversal pattern.
The continuation patterns, probably a slightly safer pattern and it’s one that I have a couple other indicators and other things I’m looking for to backup the continuation pattern. But overall on a chart this is what we’re looking for.
Let’s say we were in a large uptrend and then we already had that pullback but that pullback goes only so far and so we’re getting like the pullback, say a retracement of the previous uptrend so the retracement back down after an uptrend. And then after we’ve had that pullback down again then what I’m looking at doing is seeing some form of pattern there some form of candle pattern and other indicators, maybe a support resistance bounce whatever it might be but primarily based on a candle pattern saying nows the time to go long again for buying that currency pair after it's had a pullback but bearing in mind that the overall direction has been up then it had a pullback and then we’re looking at going long again.
And so I trade those continuation patterns quite a lot. I find they’re very safe because it means you’re trading with the overall in this case uptrend but after we’ve had the pullback looking at going long again so you are trading with the predominant trend. But its two patterns that I trade I look for all the time, I also teach that on my course. So just wanted to let you be aware of the two types the reversal patterns and the continuation patterns. Two very, very powerful slightly different but very powerful setups to look out for on your charts.
1% account gain this week
On to my trades personally this week. I’ve had a slightly tougher week this week. Had some good trades and a few loosing trades. Overall I’m about +1% up for the week right now and I still have Friday to go, being Friday morning here in New Zealand, we still got the entire day to go. And I have taken quite a numbers of trades today. But overall for the week on my set and forget trades that all my clients get I’m up just over +1% for the week on closed out trades and on a EUR/GBP breakout system that I use, it's set just once a week, it’s a breakout system that’s part of my strategy. I’m up +1.5% on that so that’s a close at +1.5% for the week for a profitable week on that strategy.
But on my other charts on the few other daily charts I’ve taken and some four hourly and it’s a one hourly down around 1.5% for the week and so overall net I’m up just over +1% for the week on closed trades with behind me here a good number o...]]>457falsefullhttps://www.spreaker.com/episode/it-s-all-about-the-japanese-yen-strength--12239878
In this video:
01:00    Big movements on the daily charts
02:28    Live training room webinar with 150 people registered
03:26    The importance of the various support and resistance levels
04:47    How you get yourself a really good solid trading plan
06:42    More of continuation and reversal trades next week
Japanese strength this week
Well it’s all been the Japanese strength this week, yet again let me tell you more right now.
Hi every body Andrew Mitchem here.
Today’s Friday the 14th of June. And that’s right it’s been about the JPY strength, yet again this week.
We’ve seen the Yen pairs just falling. We’ve seen a lot of weakness on the US/Yen, the Canadian/Yen, like the Aussie/Yen, the Kiwi/Yen, and I’ve taken quite a number of those trades myself and done very nicely on them, again this week. So there’s two weeks in a row where we’ve seen that.
From time to time, we’ve had the odd day where the prices have pulled back slightly. But overall it’s definitely been JPY strength, and also throughout the week a lot of weakness in the USD itself. But it’s just been great opportunities, looking for those opportunities and those trades out there. Every time we’re looking at shorting anything against the Yen, we’re being jumping in on those trades.
Big Movements for many pairs this week
Now, there’s also been some really big movements especially on the daily charts. And so, as a result of that it’s meant that the stop losses that I’ve been suggesting and placing on the trades on the daily charts have been quite large in somewhere between around 70 and around at 100 pips in cases. But even though that sounds large, don’t forget that when you’re risking with  a set amount of risk per trade and you’re using a sensible risk to reward it means that as a consequence the profit targets that we’re looking for are somewhere around the 250-300 and I’ve even got some trades still open behind me, here, on the US/Yen and Canadian/Yen, that the profit targets are up around 330 pips, but again it comes back to risks to reward, like I’ve said so many times.
And if you’ve got a trade, of let’s say for round numbers 100 pip stop loss but a 300 pip profit target, you’re still achieving that 3 to 1 risk to reward trade that we’re looking at achieving, especially on those longer time frame charts. Now again, you could go back to, let’s say an hour chart, and you may have, let’s say again for an example a 25 pip stop loss but the profit target may be somewhere around 70-80 pips, so again it’s still giving us that same 3 to 1 risk to reward.  But some big moves and it’s been a great opportunity for cashing in on the strength there on the JPY.
 
Live Trading Room Webinar – Important Support and Resistance Levels
Yesterday, I had a live training room webinar for my clients. We had about 150 people register and attend that webinar. It was a huge turnout, really good people from all over the world on that. And we took some trades, I had 2 trades on the 1 hour charts, and 2 trades on the 4 hourly charts that I took live in front of people. And I had some trades, quite a number of trades already still open, before the webinar started.
But I spent a lot of time looking over, obviously live trades, and when they showed, looking at a lot of chart time, answered a huge amount of questions for people. So a lot of good, valuable information was shared there. And then also we were looking at where trades might be going in the future, and we also concentrated on daily charts and 1 hour charts.
We didn’t go so much into the 4 hourlies, yesterday, but that’s again for a future event. One thing that we did discuss, and it’s really important, that a huge number of clients are starting to really see the importance of the various support and resistance levels that I use within m...]]>http://theforextradingcoach.com/?p=3213Sun, 16 Jun 2013 08:43:03 +0000Andrew MitchemPodcast: In this video: 01:00    Big movements on the daily charts 02:28    Live training room webinar with 150 people registered 03:26    The importance of the various support and resistance levels 04:47    How you get yourself a really good...
In this video:
01:00    Big movements on the daily charts
02:28    Live training room webinar with 150 people registered
03:26    The importance of the various support and resistance levels
04:47    How you get yourself a really good solid trading plan
06:42    More of continuation and reversal trades next week
Japanese strength this week
Well it’s all been the Japanese strength this week, yet again let me tell you more right now.
Hi every body Andrew Mitchem here.
Today’s Friday the 14th of June. And that’s right it’s been about the JPY strength, yet again this week.
We’ve seen the Yen pairs just falling. We’ve seen a lot of weakness on the US/Yen, the Canadian/Yen, like the Aussie/Yen, the Kiwi/Yen, and I’ve taken quite a number of those trades myself and done very nicely on them, again this week. So there’s two weeks in a row where we’ve seen that.
From time to time, we’ve had the odd day where the prices have pulled back slightly. But overall it’s definitely been JPY strength, and also throughout the week a lot of weakness in the USD itself. But it’s just been great opportunities, looking for those opportunities and those trades out there. Every time we’re looking at shorting anything against the Yen, we’re being jumping in on those trades.
Big Movements for many pairs this week
Now, there’s also been some really big movements especially on the daily charts. And so, as a result of that it’s meant that the stop losses that I’ve been suggesting and placing on the trades on the daily charts have been quite large in somewhere between around 70 and around at 100 pips in cases. But even though that sounds large, don’t forget that when you’re risking with  a set amount of risk per trade and you’re using a sensible risk to reward it means that as a consequence the profit targets that we’re looking for are somewhere around the 250-300 and I’ve even got some trades still open behind me, here, on the US/Yen and Canadian/Yen, that the profit targets are up around 330 pips, but again it comes back to risks to reward, like I’ve said so many times.
And if you’ve got a trade, of let’s say for round numbers 100 pip stop loss but a 300 pip profit target, you’re still achieving that 3 to 1 risk to reward trade that we’re looking at achieving, especially on those longer time frame charts. Now again, you could go back to, let’s say an hour chart, and you may have, let’s say again for an example a 25 pip stop loss but the profit target may be somewhere around 70-80 pips, so again it’s still giving us that same 3 to 1 risk to reward.  But some big moves and it’s been a great opportunity for cashing in on the strength there on the JPY.
 
Live Trading Room Webinar – Important Support and Resistance Levels
Yesterday, I had a live training room webinar for my clients. We had about 150 people register and attend that webinar. It was a huge turnout, really good people from all over the world on that. And we took some trades, I had 2 trades on the 1 hour charts, and 2 trades on the 4 hourly charts that I took live in front of people. And I had some trades, quite a number of trades already still open, before the webinar started.
But I spent a lot of time looking over, obviously live trades, and when they showed, looking at a lot of chart time, answered a huge amount of questions for people. So a lot of good, valuable information was shared there. And then also we were looking at where trades might be going in the future, and we also concentrated on daily charts and 1 hour charts.
We didn’t go so much into the 4 hourlies, yesterday, but that’s again for a future event. One thing that we did discuss, and it’s really important, that a huge number of clients are starting to really see the importance of the various support and resistance levels that I use within m...]]>436falsefullhttps://www.spreaker.com/episode/here-s-how-andrew-mitchem-made-a-9-gain-on-his-account-this-week--12239879In this video:
00:18      +9% gain this week from risking just 0.5% per trade
02:09      Closing the trades out before that US Non-Farm Payroll announcement
03:49      A lot of strength has come in the JPY
04:29      Two new clients comments
Well, another +9% on my trading account this week.  A Fantastic week!
Let me show you how.
Hi, Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 7th of June, already half way through another year.  And what an amazing week it’s been a +9% gain on my account this week from risking just 0.5 of 1% per trade.  And let me tell you how I’ve made those trades.
Well, I’ve made just over +4% on the daily charts. Now those are the same trades that I suggest to my clients each and every day.  I put the trade, the currency pair, the direction, the reasons for the trade, the entry and the exits, these are set and forget trades.
So just over +4% this week on those trades; I’ve made +1 ½% on a very simple breakout strategy that I use, and, again, my clients can use this, it’s just once a week you set that strategy up.  So there’s one and a half percent gain there.
I’ve made a +2% gain on the four hourly charts this week. I’ve only taken a handful, only six trades on the four hourly charts this week.  So, +2% gain there, and I’m +1 ½% up right now on Friday morning my time, on the open trades that I’ve got open.
So, all up, that’s just over +9% with a few trades still open, so great week, but really low risk.  So, it comes back to that 0.5% maximum risk per trade.  And you don’t need to be risking obscene amounts of money per trade or per week to do really well.  So, 0.5% maximum risk on all of those trades with +9% gain for the week and still 1 ½% open.
Non-Farm Payroll Announcement
But because today’s Friday and it’s Non-Farm Payroll day later my time, so that’s 8:30 US time, Non-Farm Payroll, the monthly announcement out of the US.  So, I will be closing out most of those trades before that announcement.  If you’re trading on a daily chart, you might be okay to leave them through the announcement, but anything from a four hourly chart and down, anything lower than that, definitely close those trades out before that US Non-Farm announcement.
Strength and weakness analysis
Strength and weakness analysis that I make for my clients each day, this week I’ve had twenty five trades that have ended up the following day in the correct direction and fourteen that have not.   Now, they’re not so much to say this is where the currency will end this time tomorrow, it’s to say this is the strength – I’m looking at strength in these pairs, or weakness in these pairs.
So, when my clients then go to trade on shorter time frame charts, it helps them to trade in the correct direction, or what the direction that I’m seeing myself for the upcoming day.  So, it helps you stay on the right side of the market and can really help eliminate some of those trades that may look like good setups, but end up failing.
And so twenty-five successful trade suggestions there and fourteen that ended up not being on the right side, but you still could have taken some successful trades out of those fourteen within the course of the day, it’s just that by the end of the day, they closed in the opposite direction than what I was anticipating at the start.
So, like I mentioned, Non-Farm Payrolls later today, the charts this week, what have we seen?
Well, we’ve seen a lot of weakness in the USD, huge weakness.  We’ve also seen some weakness in the commodity currencies continue from the last week and probably the week before, so therefore the AUD, the NZD, the CAD, all have weakened throughout the entire week, and the US has been the biggest losing currency of the entire week, some huge losses on Thursday.
The gainers have been the JPY,]]>http://theforextradingcoach.com/?p=3144Sat, 08 Jun 2013 03:27:40 +0000Andrew MitchemPodcast: In this video: 00:18      +9% gain this week from risking just 0.5% per trade 02:09      Closing the trades out before that US Non-Farm Payroll announcement 03:49      A lot of strength has come in the JPY 04:29      Two new clients...In this video:
00:18      +9% gain this week from risking just 0.5% per trade
02:09      Closing the trades out before that US Non-Farm Payroll announcement
03:49      A lot of strength has come in the JPY
04:29      Two new clients comments
Well, another +9% on my trading account this week.  A Fantastic week!
Let me show you how.
Hi, Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 7th of June, already half way through another year.  And what an amazing week it’s been a +9% gain on my account this week from risking just 0.5 of 1% per trade.  And let me tell you how I’ve made those trades.
Well, I’ve made just over +4% on the daily charts. Now those are the same trades that I suggest to my clients each and every day.  I put the trade, the currency pair, the direction, the reasons for the trade, the entry and the exits, these are set and forget trades.
So just over +4% this week on those trades; I’ve made +1 ½% on a very simple breakout strategy that I use, and, again, my clients can use this, it’s just once a week you set that strategy up.  So there’s one and a half percent gain there.
I’ve made a +2% gain on the four hourly charts this week. I’ve only taken a handful, only six trades on the four hourly charts this week.  So, +2% gain there, and I’m +1 ½% up right now on Friday morning my time, on the open trades that I’ve got open.
So, all up, that’s just over +9% with a few trades still open, so great week, but really low risk.  So, it comes back to that 0.5% maximum risk per trade.  And you don’t need to be risking obscene amounts of money per trade or per week to do really well.  So, 0.5% maximum risk on all of those trades with +9% gain for the week and still 1 ½% open.
Non-Farm Payroll Announcement
But because today’s Friday and it’s Non-Farm Payroll day later my time, so that’s 8:30 US time, Non-Farm Payroll, the monthly announcement out of the US.  So, I will be closing out most of those trades before that announcement.  If you’re trading on a daily chart, you might be okay to leave them through the announcement, but anything from a four hourly chart and down, anything lower than that, definitely close those trades out before that US Non-Farm announcement.
Strength and weakness analysis
Strength and weakness analysis that I make for my clients each day, this week I’ve had twenty five trades that have ended up the following day in the correct direction and fourteen that have not.   Now, they’re not so much to say this is where the currency will end this time tomorrow, it’s to say this is the strength – I’m looking at strength in these pairs, or weakness in these pairs.
So, when my clients then go to trade on shorter time frame charts, it helps them to trade in the correct direction, or what the direction that I’m seeing myself for the upcoming day.  So, it helps you stay on the right side of the market and can really help eliminate some of those trades that may look like good setups, but end up failing.
And so twenty-five successful trade suggestions there and fourteen that ended up not being on the right side, but you still could have taken some successful trades out of those fourteen within the course of the day, it’s just that by the end of the day, they closed in the opposite direction than what I was anticipating at the start.
So, like I mentioned, Non-Farm Payrolls later today, the charts this week, what have we seen?
Well, we’ve seen a lot of weakness in the USD, huge weakness.  We’ve also seen some weakness in the commodity currencies continue from the last week and probably the week before, so therefore the AUD, the NZD, the CAD, all have weakened throughout the entire week, and the US has been the biggest losing currency of the entire week, some huge losses on Thursday.
The gainers have been the JPY,]]>386falsefullhttps://www.spreaker.com/episode/the-new-zealand-dollar-bounces-at-0-8000-against-the-usd--12239880In this video:
00:19   Just returned after a three week holiday and a tour of India
01:24   What sets Forex trading apart
02:12   This week on the charts
03:22   Strong and powerful bounce levels
04:29   More advanced training room webinars soon
Well the Forex market is an amazing market.  It allows you to earn money that is not related to how many hours you work or what type of work you do.
So let’s talk more about that now.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach.
Today is Friday the 31st of May.
I’ve just returned after a three week holiday and a tour of India, and what an amazing place that is. If you’ve not been to India, it’s a place I highly recommend you go and see, just to see it, just to experience it, as it’s so different from anywhere else that I’ve certainly been.
It really is a country of extremes. It’s a country of extreme poverty, and it also has extreme wealth. It really is rather one end of the scale or the other, and really not a lot in between.  But just an amazing country to go and see, some fantastic people, lovely foods, great sites to see. So I highly recommend you do that.
Trade Forex From Anywhere
Like I mentioned at the beginning, when I’m trading I can trade from overseas, I can trade just once a day. And so that does allow a passive income, and trading’s quite a unique business, that it means you can travel, you can go overseas, you can do all sorts of things. And it doesn’t matter how much you trade, because the amount of trading that you do, the amount of time you spend on your trading, is not directly correlated to how much money you make from your trading. And that’s one thing that sets  Forex trading apart from most other businesses out there.
Number one you can trade from anywhere. But also, like I’ve mentioned over the past few weeks, I haven’t taken many trades at all, been concentrating on only the daily charts, but still made very good returns whilst being on holiday.
Get away from earning x Dollars per hour
And so you don’t need to be slaving away for hours and hours and hours at a particular job to earn X amount of dollars per hour. It also doesn’t matter how far up the ladder of that business you make it, whether you’re right at the bottom or you’re the manager because with Forex trading all of that is completely irrelevant.
And so again it comes back to just how powerful good Forex trading can be and how much of an income and a great lifestyle it can help create for you. So, I just wanted to cover that.
This week on the charts, what have we seen?
This week's strong and weak currencies
Well towards the end of the week we’ve seen some strength into the Euro, into the GBP, and the Swiss Franc. We’ve had the Australian and New Zealand dollar, so the Aussie and the Kiwi, weakness throughout the whole week, carrying on from the previous few weeks, but we’ve also at the end of this week we’ve seen some weakness occur in the USD. Whereas the last few weeks the USD has been strengthening quite a lot. So there’s some weakness coming in at the end of this week. Whether that’s just a retracement or correction, time will tell.
NZD/USD bounces at 0.8000
Heading back to the NZD against the USD it bounced perfectly at the 0.80 level. Those of you who have been watching my videos for awhile now, you know that I concentrate a lot on round numbers. And a round number is a number ending in zero, and also fifty. The zeros are even more powerful. So have a look at the charts on the NZD. It bounced perfectly for the second time in a number of days at the 0.80 level. So when you get candle patterns and other technical setups working in conjunction with a strong, powerful bounce levels, that’s when you get yourself a really good trade, so keep an eye out for that one.]]>http://theforextradingcoach.com/?p=3121Sun, 02 Jun 2013 07:00:09 +0000Andrew MitchemPodcast: In this video: 00:19   Just returned after a three week holiday and a tour of India 01:24   What sets Forex trading apart 02:12   This week on the charts 03:22   Strong and powerful bounce levels 04:29   More advanced training room...In this video:
00:19   Just returned after a three week holiday and a tour of India
01:24   What sets Forex trading apart
02:12   This week on the charts
03:22   Strong and powerful bounce levels
04:29   More advanced training room webinars soon
Well the Forex market is an amazing market.  It allows you to earn money that is not related to how many hours you work or what type of work you do.
So let’s talk more about that now.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach.
Today is Friday the 31st of May.
I’ve just returned after a three week holiday and a tour of India, and what an amazing place that is. If you’ve not been to India, it’s a place I highly recommend you go and see, just to see it, just to experience it, as it’s so different from anywhere else that I’ve certainly been.
It really is a country of extremes. It’s a country of extreme poverty, and it also has extreme wealth. It really is rather one end of the scale or the other, and really not a lot in between.  But just an amazing country to go and see, some fantastic people, lovely foods, great sites to see. So I highly recommend you do that.
Trade Forex From Anywhere
Like I mentioned at the beginning, when I’m trading I can trade from overseas, I can trade just once a day. And so that does allow a passive income, and trading’s quite a unique business, that it means you can travel, you can go overseas, you can do all sorts of things. And it doesn’t matter how much you trade, because the amount of trading that you do, the amount of time you spend on your trading, is not directly correlated to how much money you make from your trading. And that’s one thing that sets  Forex trading apart from most other businesses out there.
Number one you can trade from anywhere. But also, like I’ve mentioned over the past few weeks, I haven’t taken many trades at all, been concentrating on only the daily charts, but still made very good returns whilst being on holiday.
Get away from earning x Dollars per hour
And so you don’t need to be slaving away for hours and hours and hours at a particular job to earn X amount of dollars per hour. It also doesn’t matter how far up the ladder of that business you make it, whether you’re right at the bottom or you’re the manager because with Forex trading all of that is completely irrelevant.
And so again it comes back to just how powerful good Forex trading can be and how much of an income and a great lifestyle it can help create for you. So, I just wanted to cover that.
This week on the charts, what have we seen?
This week's strong and weak currencies
Well towards the end of the week we’ve seen some strength into the Euro, into the GBP, and the Swiss Franc. We’ve had the Australian and New Zealand dollar, so the Aussie and the Kiwi, weakness throughout the whole week, carrying on from the previous few weeks, but we’ve also at the end of this week we’ve seen some weakness occur in the USD. Whereas the last few weeks the USD has been strengthening quite a lot. So there’s some weakness coming in at the end of this week. Whether that’s just a retracement or correction, time will tell.
NZD/USD bounces at 0.8000
Heading back to the NZD against the USD it bounced perfectly at the 0.80 level. Those of you who have been watching my videos for awhile now, you know that I concentrate a lot on round numbers. And a round number is a number ending in zero, and also fifty. The zeros are even more powerful. So have a look at the charts on the NZD. It bounced perfectly for the second time in a number of days at the 0.80 level. So when you get candle patterns and other technical setups working in conjunction with a strong, powerful bounce levels, that’s when you get yourself a really good trade, so keep an eye out for that one.]]>296falsefullhttps://www.spreaker.com/episode/three-percent-in-just-two-trades-this-week-here-s-how-to-do-it--12239882In this video:
00:19   3% made in just two trades this week
00:59   The charts this week
01:43   Looking at the daily charts – New York Eastern Standard Time
02:12   Higher probability of profit target
3% In Just Two Trades This Week – Let Me Show You How
Hi, Andrew Mitchem here, the Forex Trading Coach,

Today is Sunday the 26th of May. I’m in Kolkata (Calcutta), which is on the east coast of India, on the last few days of holiday here in India.  I just wanted to tell you about that 3% that I made on my two trades this week. I only took two trades.  One of them was on Monday, on a breakout system that I used, and the other one was on Friday using just the daily charts.
And so it just goes to show again that by trading less, you can actually make more.   I’m more than happy being on holiday here, touring around India and just trading a couple of times this week when I’ve seen good set-ups and making 3% for the week, it’s a really good return.
Just shows that you don’t need to be sat watching one minute or five minute charts all day long, because ultimately you end up paying your spread back to the broker all the time and being completely tied to the computer, and really that’s not what any of us really want out of trading.
Looking At The Charts This Week…
On the charts this week, we’ve seen some strength in the Swiss Franc, and we’ve seen a little bit of strength in the Euro, and towards the end of the week, we’ve seen quite a lot of strength in the JPY.  And again, towards the end of the week, the US has weakened, but also seen quite a lot of weakness throughout the entire week on the NZD, the AUD, and the GBP.
And where we’re heading into next week? Well that comes back to looking at charts again.
The Importance Of Routine In Daily Trading
So, it’s important to have a routine with your daily trading.  For me, as I specialize mostly on the day charts and the four hourly charts, I like to do the same thing every day.  And when I’m on holiday, it means just checking the daily charts, so I’m not interested in trading anything shorter term this week.  But on a daily basis, I’ve been looking at the daily charts about a half an hour before the close of the day, based on the 5:00 p.m. New York Eastern Standard Time close of day, so around 4:30, a quarter of five, New York time.
I’ve been looking at the daily charts, looking for potential set-ups, looking for candle patterns that are likely to occur, looking for support and resistance levels, looking at places for my stock losses and for my profit targets.
Is there enough room to move from my profit target before the last swing high or swing low?  If there is, then it gives me a higher probability of my profit target for the new day to be reached.
So, I do that every single day, and it doesn’t take long, it’s something that’s a routine in my daily life and I don’t do it, obviously, I miss it at weekends because I can’t do it, but I look at it on a day by day basis.
How To Make Your Trading More Successful
So, if you want to trade just fifteen minute charts, then make sure you do the same thing at the same time every day.
If you want to trade four hourly charts, then make sure you can get to your charts every four hours.
So, it’s really important to do that, because then it sets up a plan, it sets up a routine for your trading, and ultimately it makes your trading far more successful.
So, that’s it for now.
Next week I’ll be coming to you from back in New Zealand again, after about a 17 hour flight.
So I look forward to talking to you then and hopefully you have a really good week with your trading.]]>http://theforextradingcoach.com/?p=3113Mon, 27 May 2013 09:26:06 +0000Andrew MitchemPodcast: In this video: 00:19   3% made in just two trades this week 00:59   The charts this week 01:43   Looking at the daily charts – New York Eastern Standard Time 02:12   Higher probability of profit target 3% In Just Two Trades This Week – Let Me...In this video:
00:19   3% made in just two trades this week
00:59   The charts this week
01:43   Looking at the daily charts – New York Eastern Standard Time
02:12   Higher probability of profit target
3% In Just Two Trades This Week – Let Me Show You How
Hi, Andrew Mitchem here, the Forex Trading Coach,

Today is Sunday the 26th of May. I’m in Kolkata (Calcutta), which is on the east coast of India, on the last few days of holiday here in India.  I just wanted to tell you about that 3% that I made on my two trades this week. I only took two trades.  One of them was on Monday, on a breakout system that I used, and the other one was on Friday using just the daily charts.
And so it just goes to show again that by trading less, you can actually make more.   I’m more than happy being on holiday here, touring around India and just trading a couple of times this week when I’ve seen good set-ups and making 3% for the week, it’s a really good return.
Just shows that you don’t need to be sat watching one minute or five minute charts all day long, because ultimately you end up paying your spread back to the broker all the time and being completely tied to the computer, and really that’s not what any of us really want out of trading.
Looking At The Charts This Week…
On the charts this week, we’ve seen some strength in the Swiss Franc, and we’ve seen a little bit of strength in the Euro, and towards the end of the week, we’ve seen quite a lot of strength in the JPY.  And again, towards the end of the week, the US has weakened, but also seen quite a lot of weakness throughout the entire week on the NZD, the AUD, and the GBP.
And where we’re heading into next week? Well that comes back to looking at charts again.
The Importance Of Routine In Daily Trading
So, it’s important to have a routine with your daily trading.  For me, as I specialize mostly on the day charts and the four hourly charts, I like to do the same thing every day.  And when I’m on holiday, it means just checking the daily charts, so I’m not interested in trading anything shorter term this week.  But on a daily basis, I’ve been looking at the daily charts about a half an hour before the close of the day, based on the 5:00 p.m. New York Eastern Standard Time close of day, so around 4:30, a quarter of five, New York time.
I’ve been looking at the daily charts, looking for potential set-ups, looking for candle patterns that are likely to occur, looking for support and resistance levels, looking at places for my stock losses and for my profit targets.
Is there enough room to move from my profit target before the last swing high or swing low?  If there is, then it gives me a higher probability of my profit target for the new day to be reached.
So, I do that every single day, and it doesn’t take long, it’s something that’s a routine in my daily life and I don’t do it, obviously, I miss it at weekends because I can’t do it, but I look at it on a day by day basis.
How To Make Your Trading More Successful
So, if you want to trade just fifteen minute charts, then make sure you do the same thing at the same time every day.
If you want to trade four hourly charts, then make sure you can get to your charts every four hours.
So, it’s really important to do that, because then it sets up a plan, it sets up a routine for your trading, and ultimately it makes your trading far more successful.
So, that’s it for now.
Next week I’ll be coming to you from back in New Zealand again, after about a 17 hour flight.
So I look forward to talking to you then and hopefully you have a really good week with your trading.]]>190falsefullhttps://www.spreaker.com/episode/discover-the-beauty-of-trading-forex-on-the-daily-charts-even-if-you-are-on-holiday--12239881In this video:
00:16   Trading on the daily charts on a holiday
00:52   The US strengthened hugely this week
01:15   Huge market for Gold and Silver
I’m in the beautiful city of Jaipur on Northern India and I’ve been trading on the daily charts just this week so join in now and I’ll tell you all about it.
Hi Andrew Mitchem here the Forex Trading Coach.
Today is Sunday the 19th of May. And I’m in India as you know I’m on a holiday but I’ve been trading on the daily charts only and that’s the beauty of trading Forex. You can trade the daily charts, I've been getting up quiet early in the morning here because 9 o’clock in New York time is 2:30am in the morning here.
But it means that I can put my trades on, put on and leave them and set them then it means that later in the day I can come back to the hotel the next morning and check the trades again. So that’s what I’ve been saying over the last few weeks. What we’re looking at is trading less because remember there’s no prizes for trading more.
Look at trading less, get away from those 5 minute, one minute charts and get on to the daily charts, the four hourly charts. It allows you to do things like travel like I’m doing here.
And into the charts themselves this week what are we seeing? Well we are seeing the US strengthen hugely this week and at the same time, we’ve seen the NZD, the AUD, and the JPY weaken quiet considerably.
And looking at the charts I’ve just done we’re now into Sunday before the market opens for the next week. I anticipate that the prevailing trends will continue heading into next week.
Now of course I've got to mention Gold and Silver, I'm in India and everyone loves Gold and Silver here. There’s a huge market for it. Everything is dropping at this stage and it's due to the US strength as well. And again looking at the charts it looks like the down trends may well continue.
So if you’re looking at trades for next week, look at short or anything against the US and consider taking shorts over the long term at the moment and look at selling Gold and Silver when opportunities come.
That’s it for now. I’m off back to enjoy the beautiful temples here in Jaipur and I look forward to talking to you this time next week.]]>http://theforextradingcoach.com/?p=3110Wed, 22 May 2013 01:57:54 +0000Andrew MitchemPodcast: In this video: 00:16   Trading on the daily charts on a holiday 00:52   The US strengthened hugely this week 01:15   Huge market for Gold and Silver I’m in the beautiful city of Jaipur on Northern India and I’ve been trading on the daily...In this video:
00:16   Trading on the daily charts on a holiday
00:52   The US strengthened hugely this week
01:15   Huge market for Gold and Silver
I’m in the beautiful city of Jaipur on Northern India and I’ve been trading on the daily charts just this week so join in now and I’ll tell you all about it.
Hi Andrew Mitchem here the Forex Trading Coach.
Today is Sunday the 19th of May. And I’m in India as you know I’m on a holiday but I’ve been trading on the daily charts only and that’s the beauty of trading Forex. You can trade the daily charts, I've been getting up quiet early in the morning here because 9 o’clock in New York time is 2:30am in the morning here.
But it means that I can put my trades on, put on and leave them and set them then it means that later in the day I can come back to the hotel the next morning and check the trades again. So that’s what I’ve been saying over the last few weeks. What we’re looking at is trading less because remember there’s no prizes for trading more.
Look at trading less, get away from those 5 minute, one minute charts and get on to the daily charts, the four hourly charts. It allows you to do things like travel like I’m doing here.
And into the charts themselves this week what are we seeing? Well we are seeing the US strengthen hugely this week and at the same time, we’ve seen the NZD, the AUD, and the JPY weaken quiet considerably.
And looking at the charts I’ve just done we’re now into Sunday before the market opens for the next week. I anticipate that the prevailing trends will continue heading into next week.
Now of course I've got to mention Gold and Silver, I'm in India and everyone loves Gold and Silver here. There’s a huge market for it. Everything is dropping at this stage and it's due to the US strength as well. And again looking at the charts it looks like the down trends may well continue.
So if you’re looking at trades for next week, look at short or anything against the US and consider taking shorts over the long term at the moment and look at selling Gold and Silver when opportunities come.
That’s it for now. I’m off back to enjoy the beautiful temples here in Jaipur and I look forward to talking to you this time next week.]]>112falsefullhttps://www.spreaker.com/episode/us-dollar-strength-continues--12239883In this video:00:24   An increase in the non-farm payroll employment data
01:06   Strength continue in the US
02:00   Heading into the European session on Friday
03:12   Posting each day on the Forex Peace Army site
03:36   Trading just on the daily charts over the next three weeks
Well, as I mentioned last week, I was looking for an increase in the job numbers in the US non-farm payrolls and that came through, and we’re seeing US strength ever since, throughout the whole of this week.
Let me tell you more about it now.
Well, that’s right, if you remember this time last week, I was saying before the non-farm payrolls, when I recorded the video, that looking at the charts, the technical setups, it was looking like there was going to be an increase in the non-farm payroll employment data out of the States, and it came out about 165,000 jobs created as an expected 146,000.
So, about 19,000 jobs more created than expected.
So, good news for the US economy!
And like I said, you could see that was likely to be the result by looking at the daily charts especially, and the technical setups on the charts.  And I was calling that, as you would’ve seen on this video last week, but also for my clients, to look for that number to increase.
Now, as we’ve gone through this week – so the non-farm payrolls were last Friday, we’ve gone through this entire week, today being Friday, the 10th of May – we’ve seen that strength continue in the US throughout much of the week.  And I’ve been calling positions, looking for strength in the US dollar.  Right behind me on the chart here, we’ve got the US Swiss Franc, right now as I’m talking, just skyrocketing, going up and up and up.  So, there’s definite strength in the US.
Another piece of news and technical sort of change that will blend the two that happened together: I was calling short positions on the AUD/ USD this week. It was on the day that the Aussies dropped their interest rate, the cash rate dropped down by a quarter of one percent; and eight hours prior to that announcement, with my data, you had trading suggestions for my clients, and also the strengths and weaknesses that I post freely on Forex Peace Army, I was calling AUD weakness, and it’s just continued to fall and fall.
And again, one of the charts behind me here, I was just looking at the AUD right now, even heading into the European session on Friday, just continuing to fall.  But, again, the charts were showing me well before the news announcement, what the likely effect was going to be.  And again, I come back to the point, that’s why I’m a technical trader, because the charts tell me where the market is likely to move and that’s all I worry about.  I don’t really worry about whether the news comes in and what the figure is, whether it’s good or bad, because the charts tell me much of that information, 90% of the time, the charts will tell you in advance.
So we’ve seen US strengthen, we’ve seen Aussie weaken, and we’ve seen the JPY weaken tremendously throughout this entire week as well.
So, this weekend I’m heading over to Singapore for a couple of days, and then over to India for three weeks, can’t wait to go there.  Like I said several weeks ago, it’s been on my goals list for a number of years now.
I’ve turned forty, it’s my goal to go there at forty, so that’s what I’m doing.  I will be continuing to post my daily trade suggestions, my actual trades with the entries, the stock loss, the profit targets, for my clients while I’m in India, and that will be at 2:30 a.m. local time over in India.
And I’ll also be posting a brief post each day on the Forex Peace Army site.  So, I wanted to point out that even though I’m away, I’m going to continue to work remotely and look after my clients; it’s my number one priority, looking after clients and providing them with good service and good,]]>http://theforextradingcoach.com/?p=3105Sat, 11 May 2013 22:53:20 +0000Andrew MitchemPodcast: In this video:00:24   An increase in the non-farm payroll employment data 01:06   Strength continue in the US 02:00   Heading into the European session on Friday 03:12   Posting each day on the Forex Peace Army site 03:36   Trading just on...In this video:00:24   An increase in the non-farm payroll employment data
01:06   Strength continue in the US
02:00   Heading into the European session on Friday
03:12   Posting each day on the Forex Peace Army site
03:36   Trading just on the daily charts over the next three weeks
Well, as I mentioned last week, I was looking for an increase in the job numbers in the US non-farm payrolls and that came through, and we’re seeing US strength ever since, throughout the whole of this week.
Let me tell you more about it now.
Well, that’s right, if you remember this time last week, I was saying before the non-farm payrolls, when I recorded the video, that looking at the charts, the technical setups, it was looking like there was going to be an increase in the non-farm payroll employment data out of the States, and it came out about 165,000 jobs created as an expected 146,000.
So, about 19,000 jobs more created than expected.
So, good news for the US economy!
And like I said, you could see that was likely to be the result by looking at the daily charts especially, and the technical setups on the charts.  And I was calling that, as you would’ve seen on this video last week, but also for my clients, to look for that number to increase.
Now, as we’ve gone through this week – so the non-farm payrolls were last Friday, we’ve gone through this entire week, today being Friday, the 10th of May – we’ve seen that strength continue in the US throughout much of the week.  And I’ve been calling positions, looking for strength in the US dollar.  Right behind me on the chart here, we’ve got the US Swiss Franc, right now as I’m talking, just skyrocketing, going up and up and up.  So, there’s definite strength in the US.
Another piece of news and technical sort of change that will blend the two that happened together: I was calling short positions on the AUD/ USD this week. It was on the day that the Aussies dropped their interest rate, the cash rate dropped down by a quarter of one percent; and eight hours prior to that announcement, with my data, you had trading suggestions for my clients, and also the strengths and weaknesses that I post freely on Forex Peace Army, I was calling AUD weakness, and it’s just continued to fall and fall.
And again, one of the charts behind me here, I was just looking at the AUD right now, even heading into the European session on Friday, just continuing to fall.  But, again, the charts were showing me well before the news announcement, what the likely effect was going to be.  And again, I come back to the point, that’s why I’m a technical trader, because the charts tell me where the market is likely to move and that’s all I worry about.  I don’t really worry about whether the news comes in and what the figure is, whether it’s good or bad, because the charts tell me much of that information, 90% of the time, the charts will tell you in advance.
So we’ve seen US strengthen, we’ve seen Aussie weaken, and we’ve seen the JPY weaken tremendously throughout this entire week as well.
So, this weekend I’m heading over to Singapore for a couple of days, and then over to India for three weeks, can’t wait to go there.  Like I said several weeks ago, it’s been on my goals list for a number of years now.
I’ve turned forty, it’s my goal to go there at forty, so that’s what I’m doing.  I will be continuing to post my daily trade suggestions, my actual trades with the entries, the stock loss, the profit targets, for my clients while I’m in India, and that will be at 2:30 a.m. local time over in India.
And I’ll also be posting a brief post each day on the Forex Peace Army site.  So, I wanted to point out that even though I’m away, I’m going to continue to work remotely and look after my clients; it’s my number one priority, looking after clients and providing them with good service and good,]]>275falsefullhttps://www.spreaker.com/episode/a-fantastic-week-of-trading-with-a-4-2-account-gain--12239884
In this video:
00:23  +4.2% gain this week on the daily, four and one hourly charts
01:05  Lots of new clients sign up with the birthday promotion
02:19  What’s your win rate?
03:58  Aussie Swiss Franc took a short position on the daily chart
05:11  Looking for a higher U.S Non-Farm Payroll figure
Well, no lunch with the Prime Minister to report this week, but I had some fantastic trades with a +4.2% gain on my account so far this week.
Let’s look into it now.
+4.2% gain on my account this week
That’s right.  A +4.2% gain so far this week on my account through the daily charts, the four hourly charts, and a couple of one hourly charts.  Haven’t done a massive amount of trading because the set ups haven’t been there.  But still, a +4.2% return, with just half a percent risk on each trade.
I want to go through and talk about some of those trades, because it’s really important to understand what trades are taken, be very selective with the trades.  But like I’ve talked about in the last few weeks – really important to have high risk to reward trades.
As I said to start with, no lunch with the Prime Minister this week, so slightly boring there, but it’s not every week you do that.  Really enjoyed last week, as you probably found out.
Lots of new clients sign up with the birthday promotion
Also had a lot of new clients sign up this week with the birthday promotion that I’ve been holding over the last couple weeks.  So, if you’re one of those new people, fantastic.  Really pleased to have you here.  And I know a lot of people were on yesterday’s live 2 hour trading room webinar. And we took about three trades on that session.  It was also a really good opportunity to introduce those new people to some live trading and to see the actual process occurring in real time.  We also had a really good opportunity to review some daily charts, four hourly charts, and one hourly charts through the session.
Really interesting again, I had a client from Namibia.  He’s been with me for about, probably 2 years now.  He said, “Look, I’ve had really good success.”  I think he had a 3% gain for the week so far.  He was closing down due to today being non-farm payrolls – closing down his trades for the week.  But a 3% gain.  And he just said “Hey look, Andrew I don’t need huge win rates.” And I think he had something like 3 winning trades, and 2 losing trades.  But still a 3% gain for the week.  I was really pleased to share that information, which is fantastic.
What's your win rate?
I also want to talk about a phone call I had today.  I had a lady call me and say, “Look, Andrew.  What’s your win rate?”  I said, “Well, look, it doesn't really matter that much. Well, it kind of does matter, but you don’t need to have a huge win rate.”  And so, I think she was expecting me to say something like a 90% win rate.  And it just is nowhere near that.  90% win rate is fine if you’re sort of scalping a few pips here and there, and you've got a very low risk to reward on your trades.  However, if you can get around a 50-60% win rate with your trades, yet you've got somewhere like between a 2 or 3 to 1 on average risk to reward, you’re going to do extremely well.
Just to clarify those daily trade results so far from this week: daily charts are up +2.4% for the week, with a 0.5% or half a percent risk on each trade.  And I’ve had 4 winning trades and 4 losing trades.  But, still a +2.4% gain with very, very low risk.  So again, it comes back to you can see how important the high risk to reward trading is.
On the four hourly charts and the one hourly charts, I’ve had trades this week.  I’ve had 5 winning trades and 7 losing trades.  So, I’ve got more losing trades than my winning trades this week, yet I’m still up +1.8% on those shorter time frame charts.  And again,]]>http://theforextradingcoach.com/?p=3074Sun, 05 May 2013 19:21:41 +0000Andrew MitchemPodcast: In this video: 00:23  +4.2% gain this week on the daily, four and one hourly charts 01:05  Lots of new clients sign up with the birthday promotion 02:19  What’s your win rate? 03:58  Aussie Swiss Franc took a short position on the daily...
In this video:
00:23  +4.2% gain this week on the daily, four and one hourly charts
01:05  Lots of new clients sign up with the birthday promotion
02:19  What’s your win rate?
03:58  Aussie Swiss Franc took a short position on the daily chart
05:11  Looking for a higher U.S Non-Farm Payroll figure
Well, no lunch with the Prime Minister to report this week, but I had some fantastic trades with a +4.2% gain on my account so far this week.
Let’s look into it now.
+4.2% gain on my account this week
That’s right.  A +4.2% gain so far this week on my account through the daily charts, the four hourly charts, and a couple of one hourly charts.  Haven’t done a massive amount of trading because the set ups haven’t been there.  But still, a +4.2% return, with just half a percent risk on each trade.
I want to go through and talk about some of those trades, because it’s really important to understand what trades are taken, be very selective with the trades.  But like I’ve talked about in the last few weeks – really important to have high risk to reward trades.
As I said to start with, no lunch with the Prime Minister this week, so slightly boring there, but it’s not every week you do that.  Really enjoyed last week, as you probably found out.
Lots of new clients sign up with the birthday promotion
Also had a lot of new clients sign up this week with the birthday promotion that I’ve been holding over the last couple weeks.  So, if you’re one of those new people, fantastic.  Really pleased to have you here.  And I know a lot of people were on yesterday’s live 2 hour trading room webinar. And we took about three trades on that session.  It was also a really good opportunity to introduce those new people to some live trading and to see the actual process occurring in real time.  We also had a really good opportunity to review some daily charts, four hourly charts, and one hourly charts through the session.
Really interesting again, I had a client from Namibia.  He’s been with me for about, probably 2 years now.  He said, “Look, I’ve had really good success.”  I think he had a 3% gain for the week so far.  He was closing down due to today being non-farm payrolls – closing down his trades for the week.  But a 3% gain.  And he just said “Hey look, Andrew I don’t need huge win rates.” And I think he had something like 3 winning trades, and 2 losing trades.  But still a 3% gain for the week.  I was really pleased to share that information, which is fantastic.
What's your win rate?
I also want to talk about a phone call I had today.  I had a lady call me and say, “Look, Andrew.  What’s your win rate?”  I said, “Well, look, it doesn't really matter that much. Well, it kind of does matter, but you don’t need to have a huge win rate.”  And so, I think she was expecting me to say something like a 90% win rate.  And it just is nowhere near that.  90% win rate is fine if you’re sort of scalping a few pips here and there, and you've got a very low risk to reward on your trades.  However, if you can get around a 50-60% win rate with your trades, yet you've got somewhere like between a 2 or 3 to 1 on average risk to reward, you’re going to do extremely well.
Just to clarify those daily trade results so far from this week: daily charts are up +2.4% for the week, with a 0.5% or half a percent risk on each trade.  And I’ve had 4 winning trades and 4 losing trades.  But, still a +2.4% gain with very, very low risk.  So again, it comes back to you can see how important the high risk to reward trading is.
On the four hourly charts and the one hourly charts, I’ve had trades this week.  I’ve had 5 winning trades and 7 losing trades.  So, I’ve got more losing trades than my winning trades this week, yet I’m still up +1.8% on those shorter time frame charts.  And again,]]>363falsefullhttps://www.spreaker.com/episode/lunch-with-the-prime-minister-an-ex-forex-trader--12239885In this video:
00:37      Fascinating insights of New Zealand Prime Minister
02:00      +4.7% risk to reward on 4 hourly charts
02:42      Few things to learn from that risk to reward
04:20      NZD’s been the strongest currency performer
 
 

 
Well I've just got home after having lunch with the Prime Minister.  It’s a true story and I’ll tell you about it right now.
Hi, Andrew Mitchem here, the Forex Trading Coach, today is Friday the 26th of April.
Lunch meeting Mr John Key, the New Zealand Prime Minister
That’s right, I’m buzzing at you, I’ve just had lunch with the New Zealand Prime Minister. It wasn’t just me, there was a group of business owners, local owners, and I was invited to attend and to have lunch with the Right Honourable John Key, who is our New Zealand Prime Minister.  A brilliant person to listen to, a fantastic speaker, a brilliant mind when it comes to numbers.
Talking a lot about governments overseas, about the world economy, budget deficits and where he sees the whole shift in power in the world and in the whole global economic situation over the next sort of 10 to 20 years. Really fascinating insight of how the whole political spectrum operates and talking about Obama and Cameron and other people that he’s in regular contact with.
So really, really enjoyed it; great opportunity.
It’s not every day you get to sit and have lunch with your own Prime Minister or any Prime Minister for that fact. So, I’m on a bit of a high right now because I’m a real fan of John Key. Incidentally, he used to be a currency trader, a Forex  trader over in New York and also in London; has made all his money out of Forex trading. So I suppose he’s a bit of a connection there and another incident of what, the thing that attracts me to him as a person.
But as you can tell, I’m buzzing so that was that.
High Reward:Risk Trades
On to the trades themselves this week, I’ve since sent through some videos that you may have seen some valuable insights into risk to reward. I call it reward to risk because I’m always looking at how much reward I get for how much risk I get.
I sent through a video last Friday of a GBP/JPY trade that I took on the 4-hourly chart that had a 4.7 risk to reward or reward to risk. So in other words, I made 4.7 amount of whatever it is I was risking. So let’s say if I was risking 1% of that trade, I would’ve made +4.7% return on that trade. I actually risk ½% so I made +2.35%. And then yesterday, I sent through another example of a trade, also on the 4-hourly chart on the GBP/CAD and that had about a +3.6%, I think it was, sorry a 3.6 reward to risk or for ½% risk on the trade, means I had a +1.8% return.
So a few things to learn from that. Risk to reward, obviously it’s crucial, it’s critical when you’re trading actually.  It’s so important it’s not funny. You really need to be looking for these trades that give you several times reward of the risk you’re placing on that trade. What that means is you can be wrong more often than not if you, you know, if your success rate’s not high and still make really good money. And that’s what I find with the 4-hourly charts and the daily charts.
Daily and 4 Hourly Charts Trades get you away from watching charts all day
So they not only have the advantage of not being tied to this thing, you don’t need to be tied to your screen all day long. Like if you add it up, I probably don’t watch charts for an hour absolute tops during the day, absolute tops – an hour.  And still do really well from it, so you don’t need to be watching charts all day, you don’t need to be scalping 1 minute and 5 minute charts all day and night. It’s just, you can do that if you want but it’s not necessary and you really don’t need to have to do that in order to make good money.]]>http://theforextradingcoach.com/?p=3042Sun, 28 Apr 2013 04:07:50 +0000Andrew MitchemPodcast: In this video: 00:37      Fascinating insights of New Zealand Prime Minister 02:00      +4.7% risk to reward on 4 hourly charts 02:42      Few things to learn from that risk to reward 04:20      NZD’s been the strongest currency performer...In this video:
00:37      Fascinating insights of New Zealand Prime Minister
02:00      +4.7% risk to reward on 4 hourly charts
02:42      Few things to learn from that risk to reward
04:20      NZD’s been the strongest currency performer
 
 

 
Well I've just got home after having lunch with the Prime Minister.  It’s a true story and I’ll tell you about it right now.
Hi, Andrew Mitchem here, the Forex Trading Coach, today is Friday the 26th of April.
Lunch meeting Mr John Key, the New Zealand Prime Minister
That’s right, I’m buzzing at you, I’ve just had lunch with the New Zealand Prime Minister. It wasn’t just me, there was a group of business owners, local owners, and I was invited to attend and to have lunch with the Right Honourable John Key, who is our New Zealand Prime Minister.  A brilliant person to listen to, a fantastic speaker, a brilliant mind when it comes to numbers.
Talking a lot about governments overseas, about the world economy, budget deficits and where he sees the whole shift in power in the world and in the whole global economic situation over the next sort of 10 to 20 years. Really fascinating insight of how the whole political spectrum operates and talking about Obama and Cameron and other people that he’s in regular contact with.
So really, really enjoyed it; great opportunity.
It’s not every day you get to sit and have lunch with your own Prime Minister or any Prime Minister for that fact. So, I’m on a bit of a high right now because I’m a real fan of John Key. Incidentally, he used to be a currency trader, a Forex  trader over in New York and also in London; has made all his money out of Forex trading. So I suppose he’s a bit of a connection there and another incident of what, the thing that attracts me to him as a person.
But as you can tell, I’m buzzing so that was that.
High Reward:Risk Trades
On to the trades themselves this week, I’ve since sent through some videos that you may have seen some valuable insights into risk to reward. I call it reward to risk because I’m always looking at how much reward I get for how much risk I get.
I sent through a video last Friday of a GBP/JPY trade that I took on the 4-hourly chart that had a 4.7 risk to reward or reward to risk. So in other words, I made 4.7 amount of whatever it is I was risking. So let’s say if I was risking 1% of that trade, I would’ve made +4.7% return on that trade. I actually risk ½% so I made +2.35%. And then yesterday, I sent through another example of a trade, also on the 4-hourly chart on the GBP/CAD and that had about a +3.6%, I think it was, sorry a 3.6 reward to risk or for ½% risk on the trade, means I had a +1.8% return.
So a few things to learn from that. Risk to reward, obviously it’s crucial, it’s critical when you’re trading actually.  It’s so important it’s not funny. You really need to be looking for these trades that give you several times reward of the risk you’re placing on that trade. What that means is you can be wrong more often than not if you, you know, if your success rate’s not high and still make really good money. And that’s what I find with the 4-hourly charts and the daily charts.
Daily and 4 Hourly Charts Trades get you away from watching charts all day
So they not only have the advantage of not being tied to this thing, you don’t need to be tied to your screen all day long. Like if you add it up, I probably don’t watch charts for an hour absolute tops during the day, absolute tops – an hour.  And still do really well from it, so you don’t need to be watching charts all day, you don’t need to be scalping 1 minute and 5 minute charts all day and night. It’s just, you can do that if you want but it’s not necessary and you really don’t need to have to do that in order to make good money.]]>299falsefullhttps://www.spreaker.com/episode/have-a-trading-plan-and-look-for-a-confluence-of-events--12239887
In this video:
00:47    +0.25% risk per trade on a complete 100% set and forget approach
02:03    A high probability chance of a successful trade
03:20    Trading on a longer term basis
04:52    Offering a birthday promotion discount
 
Have a Trading Plan, look at a Confluence of Events and some Recent Results
In this video I want to talk about having a trading plan, look at a confluence of events and some recent results.
So let’s get into it.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach.
Today is Friday the 17th of April. I had a live two hour webinar with my clients at this time last night. We had clients from 32 countries from around the world, a really good interactive webinar. Heaps of information shared, lots of live trades, some that I took myself and others that clients had open already prior to the webinar.
+4.45% from trading the Daily charts in the last 2 weeks
I also shared with my clients how over the past two weeks just by following my daily trade suggestions only, at only 0.25% risk per trade on a complete 100% set and forget approach, so that’s including staying open over non-farm payrolls, staying open over weekends etc., just a complete 100% set and forget approach, they have made +4.45% over the last two weeks since the previous webinar.
Now of course if you wanted to risk slightly higher, half of one percent 0.5% risk per trade that would have been a nine percent return over the last two weeks trading just the daily charts, just copying the trades that I post each day on my website for my clients. Takes people five to ten minutes once a day and that’s it.
So image  that, over nine percent, +9% return in just the last two weeks.
The Importance of having a Confluence of Events within your Trading
Now on that webinar we discussed in some length about the importance of having a confluence of events within your trading. So what I mean by that is when you’re looking at a new trade set-up, and let’s say you trade like I do and you’re looking at candle patterns and candle stick analysis. It’s all well and good to actually find a potential continuation or reversal candle but to back it up you need more than just that, because nothing by itself works. You can’t just rely on just a candle pattern, or just a certain indicator, or just a pivot point. It needs to be a multiple confluence of events to give yourself a high probability chance of a successful trade.
And that’s what we talked about, we were looking at not just the candle pattern but where does it occur within the chart?
What’s happened before it and what time of day is it?
Where does it bounce?
Does it bounce at a certain level for a reason?
Has it bounced there in the past?
Has it exhausted prior?
Has there been a trend line break?
Do we have divergence?
Do we have a bounce of a round number? All sorts of different things.
Are we trading with the strength and weakness of the daily trend as well, or are we against that?
So we looked at a huge number of pairs and certain time frames. We look at the daily charts, the four hourlies, the hourly charts and they even found a few five minute chart trades to share as well, because just because I like the longer time frame that doesn’t mean that everybody does.
So we looked at all sorts of things, looking at some really good trade setups.
Ensure you have a Trading Plan
The other thing I wanted to share with was I’ve had a few e-mails from people and I’m a little bit, a little bit scared I suppose you could say. I asked people on the Forex Peace Army site, “If you don’t have a trading plan, let me know.”
Some of the results, I’m a little bit sort of concerned. This is non-clients I’m talking about,]]>http://theforextradingcoach.com/?p=3009Sun, 21 Apr 2013 09:09:59 +0000Andrew MitchemPodcast: In this video: 00:47    +0.25% risk per trade on a complete 100% set and forget approach 02:03    A high probability chance of a successful trade 03:20    Trading on a longer term basis 04:52    Offering a birthday promotion discount  ...
In this video:
00:47    +0.25% risk per trade on a complete 100% set and forget approach
02:03    A high probability chance of a successful trade
03:20    Trading on a longer term basis
04:52    Offering a birthday promotion discount
 
Have a Trading Plan, look at a Confluence of Events and some Recent Results
In this video I want to talk about having a trading plan, look at a confluence of events and some recent results.
So let’s get into it.
Hi, it’s Andrew Mitchem here, the Forex Trading Coach.
Today is Friday the 17th of April. I had a live two hour webinar with my clients at this time last night. We had clients from 32 countries from around the world, a really good interactive webinar. Heaps of information shared, lots of live trades, some that I took myself and others that clients had open already prior to the webinar.
+4.45% from trading the Daily charts in the last 2 weeks
I also shared with my clients how over the past two weeks just by following my daily trade suggestions only, at only 0.25% risk per trade on a complete 100% set and forget approach, so that’s including staying open over non-farm payrolls, staying open over weekends etc., just a complete 100% set and forget approach, they have made +4.45% over the last two weeks since the previous webinar.
Now of course if you wanted to risk slightly higher, half of one percent 0.5% risk per trade that would have been a nine percent return over the last two weeks trading just the daily charts, just copying the trades that I post each day on my website for my clients. Takes people five to ten minutes once a day and that’s it.
So image  that, over nine percent, +9% return in just the last two weeks.
The Importance of having a Confluence of Events within your Trading
Now on that webinar we discussed in some length about the importance of having a confluence of events within your trading. So what I mean by that is when you’re looking at a new trade set-up, and let’s say you trade like I do and you’re looking at candle patterns and candle stick analysis. It’s all well and good to actually find a potential continuation or reversal candle but to back it up you need more than just that, because nothing by itself works. You can’t just rely on just a candle pattern, or just a certain indicator, or just a pivot point. It needs to be a multiple confluence of events to give yourself a high probability chance of a successful trade.
And that’s what we talked about, we were looking at not just the candle pattern but where does it occur within the chart?
What’s happened before it and what time of day is it?
Where does it bounce?
Does it bounce at a certain level for a reason?
Has it bounced there in the past?
Has it exhausted prior?
Has there been a trend line break?
Do we have divergence?
Do we have a bounce of a round number? All sorts of different things.
Are we trading with the strength and weakness of the daily trend as well, or are we against that?
So we looked at a huge number of pairs and certain time frames. We look at the daily charts, the four hourlies, the hourly charts and they even found a few five minute chart trades to share as well, because just because I like the longer time frame that doesn’t mean that everybody does.
So we looked at all sorts of things, looking at some really good trade setups.
Ensure you have a Trading Plan
The other thing I wanted to share with was I’ve had a few e-mails from people and I’m a little bit, a little bit scared I suppose you could say. I asked people on the Forex Peace Army site, “If you don’t have a trading plan, let me know.”
Some of the results, I’m a little bit sort of concerned. This is non-clients I’m talking about,]]>347falsefullhttps://www.spreaker.com/episode/why-you-should-use-a-forex-broker-who-uses-5pm-est-new-york-as-the-start-of-day--12239886
In this video:
00:46               A huge result +2.3% this week on the daily charts
01:24               Massive strength on NZD
02:24               The importance of choosing a good broker
03:43               Why use the 5pm EST start of day charting package?
 
A huge result +2.3% this week on the daily charts
Well I’m up +2.3% so far this week on the daily charts so let me show you how.
Hi everybody Andrew Mitchem here the Forex Trading Coach and that’s right I’m up +2.3% so far this week trading just the daily charts, trading with 0.25% risk per trade and from just five trades.
I’ve had four profitable trades and one losing trade and a fantastic +2.3%. And it just shows that with very low risk per trade but high to risk to reward trades how you can make amazing trades yourselves but from taking very little chart time. And that’s a really important thing.
Those trades took me probably 5-10 minutes once per day just to scan through the charts, place the position and leave them – that was it and to achieve a huge result +2.3% so far. Still got three trades open behind me here as we’re heading to the rest of Friday.
Massive strength in the New Zealand Dollar
So this week we’ve seen some huge increases and some big decreases and it’s really been quiet one sided depending on which currency pair we’re talking about for the entire week.
The biggest gain here has been the NZD – huge strength in the NZD all week as it gone up and up and up against almost all other currencies. We’ve also seen strength continue in the EUR this week. Like I mentioned a couple of weeks ago it was probably going to turn around. Remember a couple of weeks ago I said that and it has continued to rise this week against almost all other currencies. So we’ve seen the NZD massive strength, we’ve seen the EUR continue to increase, we’ve seen the AUD increased this week, we’ve seen the GBP increased this week and today we’re seeing some CAD strength.
But at the same time we’ve seen huge weakness and especially the JPY but also in the USD.  And the USD has come about from the weak non-farm payroll performance.
Now on last week’s video I made it before the non-farm payroll announcement and the results obviously came out quite bad for the USD which has just weaked the USD all this week.
Where is going next week? Hard to tell right now but we need some good clear price action on the daily charts to determine where we’re looking for into next week but as we stand right now definitely Kiwi strength, AUD strength, EUR strength, GBP strength and that looks like to continue until the end of this week.
The importance of choosing a good broker
The other thing I wanted to talk to you on this video about today is to stress the importance of choosing a broker who uses a 5pm Eastern Standard Time – that’s New York time, start of day and start of week time. It’s really important because that’s the unofficial start of the trading week – the Forex Trading week.
Now for whatever reason and I don’t know why, so many brokers out there on the daily charts have a six day week. They have what’s called a Sunday Candle which lasts just a few hours somewhere between about 1 on 4-5 hours. That’s a real pain and my opinion, don’t go near those brokers.
 
Why use the 5pm EST start of day charting package?
Use a broker who uses the correct charts. So to find that ask them if they start the new day and the new week 5pm New York time.
Now it’s really interesting. I want to share a quick story with you.
I’ve had two brokers over the last six months who both come to me and said, “Hey Andrew would you promote us?” And I said, “Well, not really because you know I only promote brokers who I personally used myself.”
And these two brokers, one of them is Go Markets and the other is Thi...]]>http://theforextradingcoach.com/?p=2981Sun, 14 Apr 2013 20:15:49 +0000Andrew MitchemPodcast: In this video: 00:46               A huge result +2.3% this week on the daily charts 01:24               Massive strength on NZD 02:24               The importance of choosing a good broker 03:43               Why use the 5pm EST start of...
In this video:
00:46               A huge result +2.3% this week on the daily charts
01:24               Massive strength on NZD
02:24               The importance of choosing a good broker
03:43               Why use the 5pm EST start of day charting package?
 
A huge result +2.3% this week on the daily charts
Well I’m up +2.3% so far this week on the daily charts so let me show you how.
Hi everybody Andrew Mitchem here the Forex Trading Coach and that’s right I’m up +2.3% so far this week trading just the daily charts, trading with 0.25% risk per trade and from just five trades.
I’ve had four profitable trades and one losing trade and a fantastic +2.3%. And it just shows that with very low risk per trade but high to risk to reward trades how you can make amazing trades yourselves but from taking very little chart time. And that’s a really important thing.
Those trades took me probably 5-10 minutes once per day just to scan through the charts, place the position and leave them – that was it and to achieve a huge result +2.3% so far. Still got three trades open behind me here as we’re heading to the rest of Friday.
Massive strength in the New Zealand Dollar
So this week we’ve seen some huge increases and some big decreases and it’s really been quiet one sided depending on which currency pair we’re talking about for the entire week.
The biggest gain here has been the NZD – huge strength in the NZD all week as it gone up and up and up against almost all other currencies. We’ve also seen strength continue in the EUR this week. Like I mentioned a couple of weeks ago it was probably going to turn around. Remember a couple of weeks ago I said that and it has continued to rise this week against almost all other currencies. So we’ve seen the NZD massive strength, we’ve seen the EUR continue to increase, we’ve seen the AUD increased this week, we’ve seen the GBP increased this week and today we’re seeing some CAD strength.
But at the same time we’ve seen huge weakness and especially the JPY but also in the USD.  And the USD has come about from the weak non-farm payroll performance.
Now on last week’s video I made it before the non-farm payroll announcement and the results obviously came out quite bad for the USD which has just weaked the USD all this week.
Where is going next week? Hard to tell right now but we need some good clear price action on the daily charts to determine where we’re looking for into next week but as we stand right now definitely Kiwi strength, AUD strength, EUR strength, GBP strength and that looks like to continue until the end of this week.
The importance of choosing a good broker
The other thing I wanted to talk to you on this video about today is to stress the importance of choosing a broker who uses a 5pm Eastern Standard Time – that’s New York time, start of day and start of week time. It’s really important because that’s the unofficial start of the trading week – the Forex Trading week.
Now for whatever reason and I don’t know why, so many brokers out there on the daily charts have a six day week. They have what’s called a Sunday Candle which lasts just a few hours somewhere between about 1 on 4-5 hours. That’s a real pain and my opinion, don’t go near those brokers.
 
Why use the 5pm EST start of day charting package?
Use a broker who uses the correct charts. So to find that ask them if they start the new day and the new week 5pm New York time.
Now it’s really interesting. I want to share a quick story with you.
I’ve had two brokers over the last six months who both come to me and said, “Hey Andrew would you promote us?” And I said, “Well, not really because you know I only promote brokers who I personally used myself.”
And these two brokers, one of them is Go Markets and the other is Thi...]]>288falsefullhttps://www.spreaker.com/episode/time-for-gold-and-silver-to-rise--12239888
In this video:
00:30 Don't trade around holidays
01:24 The Live Trading Room Webinar Results
02:42 Watching the Yen
03:35 Do you really want to work till you die?
Hi! Another fantastic week of trades! So let’s get into it.
Hi, Andrew Mitchem here, the Forex Trading Coach. And as I mentioned, I had a really good week of trades. 
Cautious Earlier in the Week
I didn’t trade Monday because of the Holiday and Tuesday because I needed to see where the market was going as it started the new week. But Wednesday, I made just over a one percent profit, and yesterday, Thursday, I made a half a percent gain on my account. Now those were all on four hour chart trades and risking only one eighth of one percent per trade, so it’s0.125% risk per trade, really small amounts. 
Keeping Easter in Mind…
Now I tried a slightly less risk per trade this week because of the shorter week after Easter, but still up until today up +1.5% so really pleased with that. 
What happened on the Live Trading Room Webinar?
And yesterday I held a live two hour training room webinar, where we trade live, and it’s for my clients, and we trade live on a real live account in front of everybody to see. And we took three trades live during that two hour session and two of them were on the one hour charts and one was on the four hour charts. 
We also had a few traders who were on live also that had some trades open and they all ended up closing in profit while we were on the webinar live, so it’s always really good to see that. 
Now, these webinars are a fantastic place to learn. 
Because we’re training live in real time, there’s nothing hidden, there’s no trickery. It’s all live from the right hand side of the chart trading in real time. And, that’s why my clients benefit so much from attending those webinars. Of course, the market when it’s quiet, we have questions and answers, and I also spend quite a bit of time looking at trades that I'd taken on Wednesday and Thursday on the four hour charts. And, that’s where I had that one and a half percent profit from. 
Now, today it’s Friday. Non-farm payrolls get announced at 8:30am EST New York Friday, so I’m always cautious around that time. Look to close out your shorter time-frame chart, so anything really from about a four hour chart or an hour chart and below. Possibly daily charts, weekly charts, those trades that have bigger stop losses. You could look at taking them through that Non Farm Payroll time, but just be careful, if they are in fairly good profit I’d be tempted to close them out before the announcement because really it’s sort of -you’re a bit uncertain when that announcement comes out you could get large spreads and big spikes in one direction or another, so it’s safer to be out of the trades before that announcement. 
Strength in the Euro this week
Elsewhere we’ve seen a lot of strength over the last day or so in the Euro, and quite surprising really but the Euro has sort of pulled back and we’ve had some weakness in the US and a lot of weakness in the Japanese Yen especially yesterday with the Bank of Japan announcement. For example, the GBP/JPY went up around six hundred and thirty pips I think it was yesterday, just massive, massive increases and so huge weakness in the Japanese Yen.
Watching the Yen…
So, what I’ve been doing that if I was looking at trades on the Yen, I obviously be preferring to take long trades against the yen, so yen weakness, but what I’d like to do is see first of all the pullback, so for instance the EUR/JPY, CAD/JPY, whatever it is you’re trading against the yen, look obviously for the good, strong bullish candle patterns, but first of all wait to see a pullback or retracement and then a opportunity to go long again. That would be my best advice for trading those Japanese yen pairs right no...]]>http://theforextradingcoach.com/?p=2904Sun, 07 Apr 2013 19:28:00 +0000Andrew MitchemPodcast: In this video: 00:30 Don't trade around holidays 01:24 The Live Trading Room Webinar Results 02:42 Watching the Yen 03:35 Do you really want to work till you die? Hi! Another fantastic week of trades! So let’s get into it. Hi, Andrew Mitchem...
In this video:
00:30 Don't trade around holidays
01:24 The Live Trading Room Webinar Results
02:42 Watching the Yen
03:35 Do you really want to work till you die?
Hi! Another fantastic week of trades! So let’s get into it.
Hi, Andrew Mitchem here, the Forex Trading Coach. And as I mentioned, I had a really good week of trades. 
Cautious Earlier in the Week
I didn’t trade Monday because of the Holiday and Tuesday because I needed to see where the market was going as it started the new week. But Wednesday, I made just over a one percent profit, and yesterday, Thursday, I made a half a percent gain on my account. Now those were all on four hour chart trades and risking only one eighth of one percent per trade, so it’s0.125% risk per trade, really small amounts. 
Keeping Easter in Mind…
Now I tried a slightly less risk per trade this week because of the shorter week after Easter, but still up until today up +1.5% so really pleased with that. 
What happened on the Live Trading Room Webinar?
And yesterday I held a live two hour training room webinar, where we trade live, and it’s for my clients, and we trade live on a real live account in front of everybody to see. And we took three trades live during that two hour session and two of them were on the one hour charts and one was on the four hour charts. 
We also had a few traders who were on live also that had some trades open and they all ended up closing in profit while we were on the webinar live, so it’s always really good to see that. 
Now, these webinars are a fantastic place to learn. 
Because we’re training live in real time, there’s nothing hidden, there’s no trickery. It’s all live from the right hand side of the chart trading in real time. And, that’s why my clients benefit so much from attending those webinars. Of course, the market when it’s quiet, we have questions and answers, and I also spend quite a bit of time looking at trades that I'd taken on Wednesday and Thursday on the four hour charts. And, that’s where I had that one and a half percent profit from. 
Now, today it’s Friday. Non-farm payrolls get announced at 8:30am EST New York Friday, so I’m always cautious around that time. Look to close out your shorter time-frame chart, so anything really from about a four hour chart or an hour chart and below. Possibly daily charts, weekly charts, those trades that have bigger stop losses. You could look at taking them through that Non Farm Payroll time, but just be careful, if they are in fairly good profit I’d be tempted to close them out before the announcement because really it’s sort of -you’re a bit uncertain when that announcement comes out you could get large spreads and big spikes in one direction or another, so it’s safer to be out of the trades before that announcement. 
Strength in the Euro this week
Elsewhere we’ve seen a lot of strength over the last day or so in the Euro, and quite surprising really but the Euro has sort of pulled back and we’ve had some weakness in the US and a lot of weakness in the Japanese Yen especially yesterday with the Bank of Japan announcement. For example, the GBP/JPY went up around six hundred and thirty pips I think it was yesterday, just massive, massive increases and so huge weakness in the Japanese Yen.
Watching the Yen…
So, what I’ve been doing that if I was looking at trades on the Yen, I obviously be preferring to take long trades against the yen, so yen weakness, but what I’d like to do is see first of all the pullback, so for instance the EUR/JPY, CAD/JPY, whatever it is you’re trading against the yen, look obviously for the good, strong bullish candle patterns, but first of all wait to see a pullback or retracement and then a opportunity to go long again. That would be my best advice for trading those Japanese yen pairs right no...]]>374falsefullhttps://www.spreaker.com/episode/i-want-to-work-till-i-die--12239889
In this video:
00:28 Had an amazing trade on the EUR/JPY
01:11 The beauty of looking for the good risk to reward trades
02:55 The superannuation scheme with 3 or 4% annual return
04:03 Close all Trades before Easter
04:23 No Trades until Wednesday
 
Hi it’s Andrew Mitchem here the Forex Trading Coach.
Today is Thursday, the 28th of March.
It's been another really good week on the trades. Had a lot better week than we had last week.
Remember last week I was saying that things were just very choppy and it was really hard to take good trades. Whereas this week we’ve seen some really good clear price action. And that's certainly helped with some picking the strengths and weaknesses and also the trades that are take on the daily and the four hourly and the one hourly charts.
8:1 Reward:Risk Trade on the EUR/JPY
In fact this time yesterday I had an amazing trade on the EUR/JPY. I was taking a short position based on the four hourly charts. I had an incredible eight to one risk to reward out of that trade.
So that means that my reward, my profit is eight times the size of my risk on the trade.
So for example if I was risking let's say $100 on that trade – I made an $800 profit.
The Beauty of Looking for the Good Risk to Reward Trades
So you can see when you start having risk to rewards like that and bear in mind that they don't happen like that all the time but when you get really high risk to reward like that, it means that if you have a couple losing trades prior, you know that this gets completely wipe up by the benefits of having these hugely successful trades.
And that’s the beauty of looking for the good risk to reward trades. So that was the EUR/JPY of four hourly chart.
Also had a USD/CAD trade at the same time and a few hours prior, I had a short position on the EUR/CHF  also on the four hourly charts – and all three of them made really good money.
So that’s a really successful time and also means that by trading the four hourly charts you don’t need to be watching the charts all day long and it means you can plan around your trading and have a life outside of trading.
That leads me on to something else I want to talk about.
The Superannuation Scheme with a 3 or 4% Return
Here in New Zealand the one of the local banks – they’re running an Ad and it's quiet a funny Ad actually – it’s called the song in the background saying, “I want to work to to I die.”  And it keeps going on about how people you know working longer and longer. It's basically saying that if you want to keep a reasonable lifestyle paying your mortgage you've  just got to keep to working and working ‘till the day you dropped dead.
And there's a funny line within the song of this person who’s singing – he’s eighty three years old and they’re getting instructions from a twenty year old at work and saying, “ Well we’ve got to keep working to I die because I have no other source of income”.
And there’s a quiet an important message there because what the Ads actually advertising is a superannuation or like a pension type of funds saying, “Well hope you’ve got your pension sorted because if you haven’t, you’re going to be working to your eighties and die.
Now that’s a good thing to be advertising because it makes people of course aware of.
“I don’t want to be working ‘till I'm eighty and I die.”
“I want to you know have a good lifestyle when I’m young and fit and active as well as when I’m older and retired.”
But the interesting thing is that the Ad is actually advertising the superannuation scheme which has around about a sort of 3 or 4% annual return.
And I’m thinking well, yeah the motto and the theme is excellent but really I want to be making that like in a month, 4% per month sometimes in a week.]]>http://theforextradingcoach.com/?p=2899Mon, 01 Apr 2013 19:38:22 +0000Andrew MitchemPodcast: In this video: 00:28 Had an amazing trade on the EUR/JPY 01:11 The beauty of looking for the good risk to reward trades 02:55 The superannuation scheme with 3 or 4% annual return 04:03 Close all Trades before Easter 04:23 No Trades until...
In this video:
00:28 Had an amazing trade on the EUR/JPY
01:11 The beauty of looking for the good risk to reward trades
02:55 The superannuation scheme with 3 or 4% annual return
04:03 Close all Trades before Easter
04:23 No Trades until Wednesday
 
Hi it’s Andrew Mitchem here the Forex Trading Coach.
Today is Thursday, the 28th of March.
It's been another really good week on the trades. Had a lot better week than we had last week.
Remember last week I was saying that things were just very choppy and it was really hard to take good trades. Whereas this week we’ve seen some really good clear price action. And that's certainly helped with some picking the strengths and weaknesses and also the trades that are take on the daily and the four hourly and the one hourly charts.
8:1 Reward:Risk Trade on the EUR/JPY
In fact this time yesterday I had an amazing trade on the EUR/JPY. I was taking a short position based on the four hourly charts. I had an incredible eight to one risk to reward out of that trade.
So that means that my reward, my profit is eight times the size of my risk on the trade.
So for example if I was risking let's say $100 on that trade – I made an $800 profit.
The Beauty of Looking for the Good Risk to Reward Trades
So you can see when you start having risk to rewards like that and bear in mind that they don't happen like that all the time but when you get really high risk to reward like that, it means that if you have a couple losing trades prior, you know that this gets completely wipe up by the benefits of having these hugely successful trades.
And that’s the beauty of looking for the good risk to reward trades. So that was the EUR/JPY of four hourly chart.
Also had a USD/CAD trade at the same time and a few hours prior, I had a short position on the EUR/CHF  also on the four hourly charts – and all three of them made really good money.
So that’s a really successful time and also means that by trading the four hourly charts you don’t need to be watching the charts all day long and it means you can plan around your trading and have a life outside of trading.
That leads me on to something else I want to talk about.
The Superannuation Scheme with a 3 or 4% Return
Here in New Zealand the one of the local banks – they’re running an Ad and it's quiet a funny Ad actually – it’s called the song in the background saying, “I want to work to to I die.”  And it keeps going on about how people you know working longer and longer. It's basically saying that if you want to keep a reasonable lifestyle paying your mortgage you've  just got to keep to working and working ‘till the day you dropped dead.
And there's a funny line within the song of this person who’s singing – he’s eighty three years old and they’re getting instructions from a twenty year old at work and saying, “ Well we’ve got to keep working to I die because I have no other source of income”.
And there’s a quiet an important message there because what the Ads actually advertising is a superannuation or like a pension type of funds saying, “Well hope you’ve got your pension sorted because if you haven’t, you’re going to be working to your eighties and die.
Now that’s a good thing to be advertising because it makes people of course aware of.
“I don’t want to be working ‘till I'm eighty and I die.”
“I want to you know have a good lifestyle when I’m young and fit and active as well as when I’m older and retired.”
But the interesting thing is that the Ad is actually advertising the superannuation scheme which has around about a sort of 3 or 4% annual return.
And I’m thinking well, yeah the motto and the theme is excellent but really I want to be making that like in a month, 4% per month sometimes in a week.]]>306falsefullhttps://www.spreaker.com/episode/the-cyprus-issue-and-market-gaps--12239890
In this video:
00:26               Huge gaps when the market opened on Monday
01:23               Taken less trades on the daily charts and the shorter time frames
02:27               Aiming for a two or three to one risk to reward
02:52               Took three trades on the hourly charts and two on the four hourly charts during the live webinar
03:25               Lot of strength in the later part of the week in the NZD
 
Hi it’s Andrew Mitchem here the Forex Trading Coach.
Today is Friday, the 22nd of March. Welcome along to another weekly video.
Cyprus Issue Causes Gaps and Difficult Trading Conditions
Well it's been such a slow week. It’s been one of the most awkward weeks that I’ve known in many years.
We started off with the whole Cyprus debt issue and that caused some scares within the market and that was at the beginning of the week.
When the market opened on Monday there was some huge gaps down or gaps up depending on which way the pair was to trading. But just massive, massive gaps and it made Monday in particularly a really difficult day to trade.
The reason I found it difficult is because where I’m usually looking at my maximum highs and lows for the day, the opens with the gaps were in many instances had burst right through that.
And then the problem came as what are we actually going to do in the market heading into the week. Are we going to see the big gap continue?
Let’s say there’s a gap down. Are we going to see that continue down further? Or are we going to see that retrace?
In the end, most the currency pairs actually retraced and filled the gap. So where the Friday was and where the Monday open was – the price generally came back and filled the gap down in that case.
But it made trading just a really difficult thing to do this week.
Taken Less Trades This Week Due To The Market Conditions
And I’ve taken less trades this week on the daily charts and the shorter time frames than I’ve taken in a long time. The lesson from that is – you don’t have to trade as the set ups aren’t there. I found that when I was looking at my daily strengths and weaknesses analysis, a lot of those went wrong as well today. But it just meant that the set ups weren’t there because my predictions weren’t correct all the time that’s not great but it also means that the set ups aren’t there. If the set ups aren’t there you can’t take the trades.
So overall as a result I’m slightly down for the week but nothing too drastic about 1%.
So you know all that bad week, I can cope with that. Lessons really for people there: 
If the trades aren’t there – don’t take them
If the market is choppy like it has been – don’t go searching for trades.
Ensure that you keep your risk low on all trades and ensure that you have a very high risk to reward when you’re taking your trade because it does mean then that a couple successful trades can more than make up for a string of losing trades.
And I’m aiming for a two or three to one risk to reward depending on the set up and the currency pair and the time frame. But what it means with a three to one is that I can have three losing trades in a row and one successful trade makes up the losses and gets us back to break even. So that’s what I mean by having a high risk to reward.
Live Trading Room Webinar for 2 Hours
Last night my time I held a live two hour trading room webinar for my clients. It was a really good webinar. I took three trades on the hourly charts and two on the four hourly charts. We also had a couple daily chart trades opened yesterday as well.
But also there’s some fantastic questions asked and people just get some really high level information during those live webinars because we’re trading live from the right hand side of the chart,]]>http://theforextradingcoach.com/?p=2834Sun, 24 Mar 2013 19:55:09 +0000Andrew MitchemPodcast: In this video: 00:26               Huge gaps when the market opened on Monday 01:23               Taken less trades on the daily charts and the shorter time frames 02:27               Aiming for a two or three to one risk to reward...
In this video:
00:26               Huge gaps when the market opened on Monday
01:23               Taken less trades on the daily charts and the shorter time frames
02:27               Aiming for a two or three to one risk to reward
02:52               Took three trades on the hourly charts and two on the four hourly charts during the live webinar
03:25               Lot of strength in the later part of the week in the NZD
 
Hi it’s Andrew Mitchem here the Forex Trading Coach.
Today is Friday, the 22nd of March. Welcome along to another weekly video.
Cyprus Issue Causes Gaps and Difficult Trading Conditions
Well it's been such a slow week. It’s been one of the most awkward weeks that I’ve known in many years.
We started off with the whole Cyprus debt issue and that caused some scares within the market and that was at the beginning of the week.
When the market opened on Monday there was some huge gaps down or gaps up depending on which way the pair was to trading. But just massive, massive gaps and it made Monday in particularly a really difficult day to trade.
The reason I found it difficult is because where I’m usually looking at my maximum highs and lows for the day, the opens with the gaps were in many instances had burst right through that.
And then the problem came as what are we actually going to do in the market heading into the week. Are we going to see the big gap continue?
Let’s say there’s a gap down. Are we going to see that continue down further? Or are we going to see that retrace?
In the end, most the currency pairs actually retraced and filled the gap. So where the Friday was and where the Monday open was – the price generally came back and filled the gap down in that case.
But it made trading just a really difficult thing to do this week.
Taken Less Trades This Week Due To The Market Conditions
And I’ve taken less trades this week on the daily charts and the shorter time frames than I’ve taken in a long time. The lesson from that is – you don’t have to trade as the set ups aren’t there. I found that when I was looking at my daily strengths and weaknesses analysis, a lot of those went wrong as well today. But it just meant that the set ups weren’t there because my predictions weren’t correct all the time that’s not great but it also means that the set ups aren’t there. If the set ups aren’t there you can’t take the trades.
So overall as a result I’m slightly down for the week but nothing too drastic about 1%.
So you know all that bad week, I can cope with that. Lessons really for people there: 
If the trades aren’t there – don’t take them
If the market is choppy like it has been – don’t go searching for trades.
Ensure that you keep your risk low on all trades and ensure that you have a very high risk to reward when you’re taking your trade because it does mean then that a couple successful trades can more than make up for a string of losing trades.
And I’m aiming for a two or three to one risk to reward depending on the set up and the currency pair and the time frame. But what it means with a three to one is that I can have three losing trades in a row and one successful trade makes up the losses and gets us back to break even. So that’s what I mean by having a high risk to reward.
Live Trading Room Webinar for 2 Hours
Last night my time I held a live two hour trading room webinar for my clients. It was a really good webinar. I took three trades on the hourly charts and two on the four hourly charts. We also had a couple daily chart trades opened yesterday as well.
But also there’s some fantastic questions asked and people just get some really high level information during those live webinars because we’re trading live from the right hand side of the chart,]]>260falsefullhttps://www.spreaker.com/episode/don-t-trade-all-day-keep-yourself-fit-for-trading--12239891In this video:
00:08   New Membership site has been launched
00:46   Seen some renewed buying strength in the GBP
01:25   Lesson for this week – not to be trading all the time
02:19   AUD hits resistance levels and the 1.0400 level against the USD – be cautious
02:54   Keeping yourself fit helps your trading immensely
 
Hi traders Andrew Mitchem here the Forex Trading Coach.
Welcome along today is Friday, the 15th of March.
New Membership Site Launched
Well I’ve launched my new membership site this week and had some amazing feedback from clients. If you’re not a member yet then you’re missing out but I just want to let you know that I’ve condensed all of the course notes, the videos, the helpdesk, the daily trade suggestions and everything to do with the course into one site so people are finding that really useful. Those who are newer to the course are finding it just brilliant, all set out in a logical step by step process. And those who have been with me for a while get a really good refresher.
So like I said if you are not a client then you’re missing out on that great resource.
GBP Strength this week
On the trades this week we’ve seen some renewed buying strength in the GBP. I’ve been calling buy trades on the GBP against many other currencies for several days now as you may see on the Forex Peace Army website.
So today, on Friday I’m looking for buy positions or opportunities on the GBP against the USD. I’m also looking for the GBP against the NZD for the second day running and I had a trade on the Pound New Zealand yesterday on the daily chart. It’s just working an absolute treat. It’s around 170 pips in profit right now in the run of 2.5:1 risk to reward trade.
Don't Trade All Of The Time
One thing I also want to let you know. Lesson for this week is – not to be trading all the time.
For instance if you trade off the daily charts you probably only need to spend a round of 10-15 minutes once per day looking at the charts. And I work up for 5pm New York time close of day charts.
I also love trading the four hourly charts and that means that I can go and look at my charts once every 4 hours. And so that takes me about 5 minutes once every 4 hours. If I want to look at anything shorter I generally look at the 1 hour charts but nothing shorter than that.
Be careful Of Any AUD$ Resistance
Onto the charts again, one thing I did mentioned this morning was just be cautious of the AUD. It’s looking very strong, very bullish but right now at the time I’m recording this I’m not looking at taking any buy trade even though it’slooking bullish. By the time you get to watch this it may have continued up, who knows but right now I’m cautious because it’s hit the 1.0400 level against the USD. It’s hit the 100.00 big round number against the JPY and against the CHF, its hit a very strong resistance level tha’s been resistance many times over the past few years.
And so with all that in mind even though I’m thinking that the AUD could well increase because of that huge amount of resistance there I’m not just looking at AUD$ Dollar trades for today. And there is the opportunity for the AUD to retrace slightly.
Keep Yourself Fit & Help Your Trading
Last thing I want to mention is about keeping yourself fit. Now it’s probably something that’s not mentioned in trading all that often. But keeping yourself physically fit and active it helps your trading immensely. It helps keep your physical appearance good but also helps keep you mentally stimulated as well. So for instance I love my Karate and I love my Cricket and those two things combined help to keep me in reasonably good shape and it’s something that I just wanted to pass on to you that keeping yourself physically active and fit is really good for your trading.]]>http://theforextradingcoach.com/?p=2812Sun, 17 Mar 2013 03:17:26 +0000Andrew MitchemPodcast: In this video: 00:08   New Membership site has been launched 00:46   Seen some renewed buying strength in the GBP 01:25   Lesson for this week – not to be trading all the time 02:19   AUD hits resistance levels and the 1.0400 level against...In this video:
00:08   New Membership site has been launched
00:46   Seen some renewed buying strength in the GBP
01:25   Lesson for this week – not to be trading all the time
02:19   AUD hits resistance levels and the 1.0400 level against the USD – be cautious
02:54   Keeping yourself fit helps your trading immensely
 
Hi traders Andrew Mitchem here the Forex Trading Coach.
Welcome along today is Friday, the 15th of March.
New Membership Site Launched
Well I’ve launched my new membership site this week and had some amazing feedback from clients. If you’re not a member yet then you’re missing out but I just want to let you know that I’ve condensed all of the course notes, the videos, the helpdesk, the daily trade suggestions and everything to do with the course into one site so people are finding that really useful. Those who are newer to the course are finding it just brilliant, all set out in a logical step by step process. And those who have been with me for a while get a really good refresher.
So like I said if you are not a client then you’re missing out on that great resource.
GBP Strength this week
On the trades this week we’ve seen some renewed buying strength in the GBP. I’ve been calling buy trades on the GBP against many other currencies for several days now as you may see on the Forex Peace Army website.
So today, on Friday I’m looking for buy positions or opportunities on the GBP against the USD. I’m also looking for the GBP against the NZD for the second day running and I had a trade on the Pound New Zealand yesterday on the daily chart. It’s just working an absolute treat. It’s around 170 pips in profit right now in the run of 2.5:1 risk to reward trade.
Don't Trade All Of The Time
One thing I also want to let you know. Lesson for this week is – not to be trading all the time.
For instance if you trade off the daily charts you probably only need to spend a round of 10-15 minutes once per day looking at the charts. And I work up for 5pm New York time close of day charts.
I also love trading the four hourly charts and that means that I can go and look at my charts once every 4 hours. And so that takes me about 5 minutes once every 4 hours. If I want to look at anything shorter I generally look at the 1 hour charts but nothing shorter than that.
Be careful Of Any AUD$ Resistance
Onto the charts again, one thing I did mentioned this morning was just be cautious of the AUD. It’s looking very strong, very bullish but right now at the time I’m recording this I’m not looking at taking any buy trade even though it’slooking bullish. By the time you get to watch this it may have continued up, who knows but right now I’m cautious because it’s hit the 1.0400 level against the USD. It’s hit the 100.00 big round number against the JPY and against the CHF, its hit a very strong resistance level tha’s been resistance many times over the past few years.
And so with all that in mind even though I’m thinking that the AUD could well increase because of that huge amount of resistance there I’m not just looking at AUD$ Dollar trades for today. And there is the opportunity for the AUD to retrace slightly.
Keep Yourself Fit & Help Your Trading
Last thing I want to mention is about keeping yourself fit. Now it’s probably something that’s not mentioned in trading all that often. But keeping yourself physically fit and active it helps your trading immensely. It helps keep your physical appearance good but also helps keep you mentally stimulated as well. So for instance I love my Karate and I love my Cricket and those two things combined help to keep me in reasonably good shape and it’s something that I just wanted to pass on to you that keeping yourself physically active and fit is really good for your trading.]]>239falsefullhttps://www.spreaker.com/episode/looking-for-exhaustion-candle-patterns--12239892In this video:
00:24   Held a live 2 hour trading room session for my clients
01:36   Talked about Exhaustion patterns when looking for Continuation and Reversal patterns
01:49   An exciting new membership website
02:47   The American and Canadian clocks move this Sunday
03:23   Non-Farm Payroll news out today
03:41   Taken short position on the GBP/CHF – but close out before the NFP
 
Hi Traders Andrew Mitchem here the Forex Trading Coach:
Welcome along to another weekly video. Today is Friday the 8th of March.

Exhaustion Candle Patterns
 
Well yesterday I held a live 2 hour trading room session for my clients and in that session we looked at some really important candle patterns that we we're looking for. And overall I’m looking at continuation patterns or reversal patterns. But prior to the extra confirmation, ideally what I like to see is an exhaustion pattern.
So what I mean by that is let’s say we were in an uptrend, I then see an exhaustion and then a confirmation to go short. It’s the exhaustion that’s given me clue, the early warning before the confirmation to go short. That’s a reversal pattern. For a continuation, we may be in an uptrend, we get a pull back and a pull back to a certain level. And then we see exhaustion then a bullish pattern to go long again.
So on both instances – the reversal and the continuation pattern, the exhaustion candle does give us a lot of clues especially if it occurs at a really important bounce level. And I discuss a lot more of that within the course itself.
 
4 Hour Chart Trades
We looked at some four hour charts and looked at some really good trades that were taking over the last few days on the four charts. And we also took a 15 minute chart on the GBP/USD selling with the 1.5000 level – the big round number in the way as a barrier, as a resistance level.
 
New Clients Membership Site
I’ve also shared to my clients a really exciting new website that I have for them which is the client’s only login site and that’s containing all the course notes, the videos, the help desk, software everything  all within one place – so a really valuable resource for clients to gain and also revisit the course information.
 
US Clocks Change and the Non-Farm Payrolls
A word of warning we have the non-farm payrolls later today so for me that’s early hours of Saturday morning but its 8:30am Eastern Standard Time New York. So at that time I always like to have my trades closed prior to then especially the shorter time term charts.
 
The Daily charts I may leave open during that news it depends really on how they are placed at that time. If they are in reasonably good profit I might just close them for the week and close out and then just watch the news announcement.
 
Also to let you know that this Sunday, the American and Canadian clocks move so the daily trades suggestions that I’m posting especially on that Forex Peace Army – they will be one hour earlier so for those of you outside of the States and Canada, those trade suggestions will come out through one hour earlier. It will still be 5pm New York Time but just for your local time that will adjust just by the one hour.
 
This weeks trading
On the charts: We’ve seen the EUR yesterday just suddenly pulled back up again so we're getting some renewed buying into the EUR and whether that continues or not – we don’t really know at this time.
 
I’m preferring to look for buy trades on the EUR, a lot of the EUR pairs today but it may just be a really short time than I’m looking for that. Who knows what non-farm payrolls are bringing and where the currencies head into next week.
 
The only trade I’ve taken myself today on the daily charts is a short position on the GBP/CHF ...]]>http://theforextradingcoach.com/?p=2792Sun, 10 Mar 2013 21:03:30 +0000Andrew MitchemPodcast: In this video: 00:24   Held a live 2 hour trading room session for my clients 01:36   Talked about Exhaustion patterns when looking for Continuation and Reversal patterns 01:49   An exciting new membership website 02:47   The American and...In this video:
00:24   Held a live 2 hour trading room session for my clients
01:36   Talked about Exhaustion patterns when looking for Continuation and Reversal patterns
01:49   An exciting new membership website
02:47   The American and Canadian clocks move this Sunday
03:23   Non-Farm Payroll news out today
03:41   Taken short position on the GBP/CHF – but close out before the NFP
 
Hi Traders Andrew Mitchem here the Forex Trading Coach:
Welcome along to another weekly video. Today is Friday the 8th of March.

Exhaustion Candle Patterns
 
Well yesterday I held a live 2 hour trading room session for my clients and in that session we looked at some really important candle patterns that we we're looking for. And overall I’m looking at continuation patterns or reversal patterns. But prior to the extra confirmation, ideally what I like to see is an exhaustion pattern.
So what I mean by that is let’s say we were in an uptrend, I then see an exhaustion and then a confirmation to go short. It’s the exhaustion that’s given me clue, the early warning before the confirmation to go short. That’s a reversal pattern. For a continuation, we may be in an uptrend, we get a pull back and a pull back to a certain level. And then we see exhaustion then a bullish pattern to go long again.
So on both instances – the reversal and the continuation pattern, the exhaustion candle does give us a lot of clues especially if it occurs at a really important bounce level. And I discuss a lot more of that within the course itself.
 
4 Hour Chart Trades
We looked at some four hour charts and looked at some really good trades that were taking over the last few days on the four charts. And we also took a 15 minute chart on the GBP/USD selling with the 1.5000 level – the big round number in the way as a barrier, as a resistance level.
 
New Clients Membership Site
I’ve also shared to my clients a really exciting new website that I have for them which is the client’s only login site and that’s containing all the course notes, the videos, the help desk, software everything  all within one place – so a really valuable resource for clients to gain and also revisit the course information.
 
US Clocks Change and the Non-Farm Payrolls
A word of warning we have the non-farm payrolls later today so for me that’s early hours of Saturday morning but its 8:30am Eastern Standard Time New York. So at that time I always like to have my trades closed prior to then especially the shorter time term charts.
 
The Daily charts I may leave open during that news it depends really on how they are placed at that time. If they are in reasonably good profit I might just close them for the week and close out and then just watch the news announcement.
 
Also to let you know that this Sunday, the American and Canadian clocks move so the daily trades suggestions that I’m posting especially on that Forex Peace Army – they will be one hour earlier so for those of you outside of the States and Canada, those trade suggestions will come out through one hour earlier. It will still be 5pm New York Time but just for your local time that will adjust just by the one hour.
 
This weeks trading
On the charts: We’ve seen the EUR yesterday just suddenly pulled back up again so we're getting some renewed buying into the EUR and whether that continues or not – we don’t really know at this time.
 
I’m preferring to look for buy trades on the EUR, a lot of the EUR pairs today but it may just be a really short time than I’m looking for that. Who knows what non-farm payrolls are bringing and where the currencies head into next week.
 
The only trade I’ve taken myself today on the daily charts is a short position on the GBP/CHF ...]]>250falsefullhttps://www.spreaker.com/episode/great-trade-results-with-full-profit-on-the-eur-usd-sell-trade--12239895In this video:
00:42               Suggested trades give full profit results
01:30               Full profit on the EUR/USD trade
01:46               Daily strengths and weaknesses analysis posted on Forex Peace Army site
03:05               Metals continue to fall
03:54               Took four positions on the four hourly charts
04:32               Free Lot Size Calculator that people just love
 
Hi Andrew Mitchem here, The Forex Trading Coach.
Today is Saturday the 2nd of March, welcome along to another weekly video.
We’ve had a really interesting week this week. Yesterday I suggested 5 trades to my clients on the daily charts. I woke up this morning my time and three of them did hit full profit. They were the EUR/USD, USD/CHF and the AUD/CHF.
Now I got stopped out on the EUR/GBP due to a lot of weakness in the GBP that was slightly unexpected and the USD/CAD – I had a buy trade on that – And I’ve got some profit out of that trade but not full profit. But I’ve closed it before the close of the trading week.
One thing that was really pleasing – the EUR/USD moved around about 130 pips yesterday. I had a profit target of 1.2980. The price went down to around 1.2965 target so we had full profit and exited the trade with only around 15 pips left on the table. So that was just a fantastic trade to take. And full profit out of the trade and closed for the week.
Forex Peace Army Giant Update
You may have noticed on the Forex Peace Army site I’ve been posting my daily strengths and weaknesses analysis and those five trades were favoured in terms of which direction we were looking for the currencies to head yesterday.
If you are following those please do remember that those analyses that put on the Forex Peace Army site are not specific trades. It’s really important for you to understand that because some people are looking at them as a specific trade they're not that.
They're guidelines to say using your own strategy. This is where I’m looking for the main trend to head today. So for example with the EUR/USD – if you see any short positions using your own strategy and I was looking for short positions on the EUR/USD then you would be looking at taking those short opportunities when they arise and probably ignoring most of the buy opportunities because the overall strength or weakness for that currency pair was to head down for the day. 
So I hope that’s cleared that up.
Elsewhere we have seen a sell off in the GBP and I would be expecting probably the EUR and the GBP probably against a lot of the other currencies – so against the USD specially to continue to fall into next week.

Metals Update
Gold and Silver both continue to fall as I mentioned last week so a big sell off on those for about the last three weeks or more. 
 
Risk Per Trade Guide
Elsewhere, one thing that I’ve mentioned to a lot of people this week is to keep your risk per trade very low. It’s a really important thing. It helps you with the psychology of your trading with your emotions in your trading. It just means that you have some control over your account.
With Forex remember that there is a longer term project. It’s not get rich quick scheme. If you treat it like that it will get you and it will blow your account almost certainly. So treat as a business, treat that as a very low risk.
Personally I look at a quarter to half of 1% risk on my account per trade. So that’s very very low.
I’ll give you an example:
Yesterday I took four positions on the four hourly charts – last night my time. All four of them worked. But I took a quarter of 1% risk on each of them. So I ended up making some really good profit. I’ve made just over 2% return on those. But if those four had all gone wrong I know that the maximum I would have lost on all...]]>http://theforextradingcoach.com/?p=2787Sun, 03 Mar 2013 22:46:27 +0000Andrew MitchemPodcast: In this video: 00:42               Suggested trades give full profit results 01:30               Full profit on the EUR/USD trade 01:46               Daily strengths and weaknesses analysis posted on Forex Peace Army site 03:05              ...In this video:
00:42               Suggested trades give full profit results
01:30               Full profit on the EUR/USD trade
01:46               Daily strengths and weaknesses analysis posted on Forex Peace Army site
03:05               Metals continue to fall
03:54               Took four positions on the four hourly charts
04:32               Free Lot Size Calculator that people just love
 
Hi Andrew Mitchem here, The Forex Trading Coach.
Today is Saturday the 2nd of March, welcome along to another weekly video.
We’ve had a really interesting week this week. Yesterday I suggested 5 trades to my clients on the daily charts. I woke up this morning my time and three of them did hit full profit. They were the EUR/USD, USD/CHF and the AUD/CHF.
Now I got stopped out on the EUR/GBP due to a lot of weakness in the GBP that was slightly unexpected and the USD/CAD – I had a buy trade on that – And I’ve got some profit out of that trade but not full profit. But I’ve closed it before the close of the trading week.
One thing that was really pleasing – the EUR/USD moved around about 130 pips yesterday. I had a profit target of 1.2980. The price went down to around 1.2965 target so we had full profit and exited the trade with only around 15 pips left on the table. So that was just a fantastic trade to take. And full profit out of the trade and closed for the week.
Forex Peace Army Giant Update
You may have noticed on the Forex Peace Army site I’ve been posting my daily strengths and weaknesses analysis and those five trades were favoured in terms of which direction we were looking for the currencies to head yesterday.
If you are following those please do remember that those analyses that put on the Forex Peace Army site are not specific trades. It’s really important for you to understand that because some people are looking at them as a specific trade they're not that.
They're guidelines to say using your own strategy. This is where I’m looking for the main trend to head today. So for example with the EUR/USD – if you see any short positions using your own strategy and I was looking for short positions on the EUR/USD then you would be looking at taking those short opportunities when they arise and probably ignoring most of the buy opportunities because the overall strength or weakness for that currency pair was to head down for the day. 
So I hope that’s cleared that up.
Elsewhere we have seen a sell off in the GBP and I would be expecting probably the EUR and the GBP probably against a lot of the other currencies – so against the USD specially to continue to fall into next week.

Metals Update
Gold and Silver both continue to fall as I mentioned last week so a big sell off on those for about the last three weeks or more. 
 
Risk Per Trade Guide
Elsewhere, one thing that I’ve mentioned to a lot of people this week is to keep your risk per trade very low. It’s a really important thing. It helps you with the psychology of your trading with your emotions in your trading. It just means that you have some control over your account.
With Forex remember that there is a longer term project. It’s not get rich quick scheme. If you treat it like that it will get you and it will blow your account almost certainly. So treat as a business, treat that as a very low risk.
Personally I look at a quarter to half of 1% risk on my account per trade. So that’s very very low.
I’ll give you an example:
Yesterday I took four positions on the four hourly charts – last night my time. All four of them worked. But I took a quarter of 1% risk on each of them. So I ended up making some really good profit. I’ve made just over 2% return on those. But if those four had all gone wrong I know that the maximum I would have lost on all...]]>268falsefullhttps://www.spreaker.com/episode/the-new-forex-peace-army-giant--12239897Podcast:

In this video:
00:25 USD has shown a lot of strength
00:41 Looking at some buy opportunities on the GBP
00:52 Analyzing the strengths and weaknesses of each currency
01:26 Aiming to educate and help people on trading
02:59 Over 10% return on a live account in two weeks using my strategy
03:45 See something that you might benefit from my website
Hi Traders Andrew Mitchem here the Forex Trading Coach.
Great to be here. Today is Saturday, the 23rd of February.
A lot of USD strength
We’ve seen a really quiet a mix day today. Not a lot actually happened but as predicted the EUR and the GBP have continue to fall all week. The USD has shown a lot of strength and then the CAD has continued to fall.
Gold and Silver as I also said last week have continued to fall following last week’s big fall. So quiet a crashed there on Gold and Silver.
Having said that today I was looking at some buy opportunities on the GBP because it looked like there was some form of retracement coming against a certain place.
How do I know that?
I analyze the strengths and weaknesses of each currency
Well each day I analyze the strengths and weaknesses of each currency and you may have noticed that on the Forex Peace Army side have now been writing my analysis each day. If you’ve not seen that yet, jump across the www.forexpeacearmy.com and have the look under the education section and then under what they called the “Shoulder of Giants”.
A New Forex Peace Army Giant
Now I’m really privileged to be one of just two giants in their whole community of hundreds of thousands that have been asked to write on their site each day.
I had some great feedback. I’ve been writing for this one week but it’s helped a lot of people and that’s what I’m aiming to do. It’s aiming to educate and help people to look at the markets and trade on the right side of the market. Because trading, yes it’s all about finding the correct set up -technical setup or fundamental setup whatever it is you trade.
But also if you are trading on the right side or where the strengths and weaknesses are for that particular day surely it has to add to your probability of making successful trades.
So that’s the whole aim of that. Of course I teach that to my clients as part of my course but I’m also giving away that information free on the daily basis to trying help people gain more successful trades.
Free Trading Webinars
This week on my two free webinars that you can attend, I had two full rooms and some fantastic questions so if you were on that, hope you enjoyed that session. If you weren’t, if you haven’t attended yet make sure you jump on to this week’s, one of this week’s two free webinars.
Client makes 10% return in the last 2 weeks
Elsewhere on my own client’s webinars which is just client’s only invitation which I hold every two weeks – that’s a live two hour trading web webinar.
We shared some amazing results that a client of mine called Geraint from over in Australia has achieved.
Geraint has been with me for probably around six months or so and he’s now developed a four hour system using my strategy that works for him. And so he’s taken my four hour charts and he’s also looking at my daily suggestions. And in the last two weeks he reported that this has made over 10% return on his live account.
So that’s just in the last two weeks. But just like I said it’s taking him 6 months of learning, of progression to get that stage where he now feels comfortable with trading. And he has found a timeframe that suits him. And like me the four hourly and the daily charts – he has found as his niche timeframe – just works in beautifully not tying you to the computer screen.
But look 10% return in two weeks on a live account.]]>http://theforextradingcoach.com/?p=2776Sun, 24 Feb 2013 03:40:44 +0000Andrew Mitchem  Podcast: In this video: 00:25 USD has shown a lot of strength 00:41 Looking at some buy opportunities on the GBP 00:52 Analyzing the strengths and weaknesses of each currency 01:26 Aiming to educate and help people on trading 02:59 Over 10%...Podcast:

In this video:
00:25 USD has shown a lot of strength
00:41 Looking at some buy opportunities on the GBP
00:52 Analyzing the strengths and weaknesses of each currency
01:26 Aiming to educate and help people on trading
02:59 Over 10% return on a live account in two weeks using my strategy
03:45 See something that you might benefit from my website
Hi Traders Andrew Mitchem here the Forex Trading Coach.
Great to be here. Today is Saturday, the 23rd of February.
A lot of USD strength
We’ve seen a really quiet a mix day today. Not a lot actually happened but as predicted the EUR and the GBP have continue to fall all week. The USD has shown a lot of strength and then the CAD has continued to fall.
Gold and Silver as I also said last week have continued to fall following last week’s big fall. So quiet a crashed there on Gold and Silver.
Having said that today I was looking at some buy opportunities on the GBP because it looked like there was some form of retracement coming against a certain place.
How do I know that?
I analyze the strengths and weaknesses of each currency
Well each day I analyze the strengths and weaknesses of each currency and you may have noticed that on the Forex Peace Army side have now been writing my analysis each day. If you’ve not seen that yet, jump across the www.forexpeacearmy.com and have the look under the education section and then under what they called the “Shoulder of Giants”.
A New Forex Peace Army Giant
Now I’m really privileged to be one of just two giants in their whole community of hundreds of thousands that have been asked to write on their site each day.
I had some great feedback. I’ve been writing for this one week but it’s helped a lot of people and that’s what I’m aiming to do. It’s aiming to educate and help people to look at the markets and trade on the right side of the market. Because trading, yes it’s all about finding the correct set up -technical setup or fundamental setup whatever it is you trade.
But also if you are trading on the right side or where the strengths and weaknesses are for that particular day surely it has to add to your probability of making successful trades.
So that’s the whole aim of that. Of course I teach that to my clients as part of my course but I’m also giving away that information free on the daily basis to trying help people gain more successful trades.
Free Trading Webinars
This week on my two free webinars that you can attend, I had two full rooms and some fantastic questions so if you were on that, hope you enjoyed that session. If you weren’t, if you haven’t attended yet make sure you jump on to this week’s, one of this week’s two free webinars.
Client makes 10% return in the last 2 weeks
Elsewhere on my own client’s webinars which is just client’s only invitation which I hold every two weeks – that’s a live two hour trading web webinar.
We shared some amazing results that a client of mine called Geraint from over in Australia has achieved.
Geraint has been with me for probably around six months or so and he’s now developed a four hour system using my strategy that works for him. And so he’s taken my four hour charts and he’s also looking at my daily suggestions. And in the last two weeks he reported that this has made over 10% return on his live account.
So that’s just in the last two weeks. But just like I said it’s taking him 6 months of learning, of progression to get that stage where he now feels comfortable with trading. And he has found a timeframe that suits him. And like me the four hourly and the daily charts – he has found as his niche timeframe – just works in beautifully not tying you to the computer screen.
But look 10% return in two weeks on a live account.]]>296falsefullhttps://www.spreaker.com/episode/trading-short-on-the-gbp-plus-daily-strengths-weaknesses--12239898In this video:
00:22    Amazing feedback from last week’s presentation
00:57   Offering a really good incentive upon signing up
01:29    Been asked by Forex Peace Army to write for them
02:05   Adding strengths and weaknesses of pairs for people to follow
03:22    Kiwi being the strongest currency at the moment
04:11    Downward movement in Silver and Gold continue
 
Hi traders Andrew Mitchem here the Forex Trading Coach.
Welcome along. Today is Friday the 15th of February, 2013.
It’s been another really good week. Had some amazing feedback from the information we talked about on last week’s presentation.
Importance of Backups
I talked about the importance of backups. If you haven’t seen that yet make sure you go and watch last weeks. It could save you a lot of headaches.
Training for new Traders
Had also some amazing feedback about my webinars that I hold for newer traders every week.  So I’m holding two every week.  Make sure you jump on those if you’ve not been on there.
Got some great feedback. People are learning some really good information helping them along with their trading. And also just to let you know at the end of the presentation I’m offering a really good incentive and the incentive is – you can actually get a one hour private webinar with myself if you are to sign up to my course on that.
So it’s really worth attending. No one else gets that it’s just a few people who signed up after those sessions can get a whole hour talking through your trading with myself.
So make sure you jump on to those webinars if you’ve not already done so.
Forex Peace Army Exciting News
The other thing I have to tell you. I’ve been asked by Forex Peace Army to write for them. Now I respect Forex Peace Army. I think it’s the most important review site out there. And it has been for quite a number of years and they catch-out a huge number of people – catch them doing some really dodgy things within this industry.
And so I really respect them for that.
They’ve asked me, they’ve approached me and said, “Look Andrew, would you write for us so our clients can get some benefit from your trading knowledge”.
And I said, “Yes, sure I’ll help you out.”
So what I’m doing starting from this coming Monday is I’m going to be adding the strengths and weaknesses that I see each day on various pairs and writing that information down on their sites for people to follow along.
I put that information on my site for my clients plus a lot more.
But I’m just going to saying about some of the currency pair that I see has been particularly strong or being particularly weak for the upcoming day.
What will that help you do with your Forex Trading?
So what that allows the people to do is to try their own system whatever it might be – but knowing that, you’re trading with the likely direction for that upcoming 24 hours.
So look out for that and I’ll fill you with more details this time next week after I’ve been writing for the first week.
This weeks Forex Trades
On the trades themselves this week, the GBP has just crashed yet again and the GBP against the NZD and the AUD has just fallen away. And the GBP/NZD and also the EUR/NZD are now at historical lows and so there just doesn’t seem any end in sight for those two.
In fact today being Friday I’ve shorted the EUR against several other pairs. I can see that the EUR is falling back.  And the GBP of course is falling back. The Kiwi is looking the strongest. At the moment it’s the strongest currency and it just reached the 0.85 and just pushed through the 0.85 cents against the USD right now as I’m recording this.
So that could well push up a touch further.
Moving into Metals
And also away from the currencies, Gold & Silver have fallen.]]>http://theforextradingcoach.com/?p=2751Sun, 17 Feb 2013 19:34:50 +0000Andrew MitchemPodcast: In this video: 00:22    Amazing feedback from last week’s presentation 00:57   Offering a really good incentive upon signing up 01:29    Been asked by Forex Peace Army to write for them 02:05   Adding strengths and weaknesses of pairs for...In this video:
00:22    Amazing feedback from last week’s presentation
00:57   Offering a really good incentive upon signing up
01:29    Been asked by Forex Peace Army to write for them
02:05   Adding strengths and weaknesses of pairs for people to follow
03:22    Kiwi being the strongest currency at the moment
04:11    Downward movement in Silver and Gold continue
 
Hi traders Andrew Mitchem here the Forex Trading Coach.
Welcome along. Today is Friday the 15th of February, 2013.
It’s been another really good week. Had some amazing feedback from the information we talked about on last week’s presentation.
Importance of Backups
I talked about the importance of backups. If you haven’t seen that yet make sure you go and watch last weeks. It could save you a lot of headaches.
Training for new Traders
Had also some amazing feedback about my webinars that I hold for newer traders every week.  So I’m holding two every week.  Make sure you jump on those if you’ve not been on there.
Got some great feedback. People are learning some really good information helping them along with their trading. And also just to let you know at the end of the presentation I’m offering a really good incentive and the incentive is – you can actually get a one hour private webinar with myself if you are to sign up to my course on that.
So it’s really worth attending. No one else gets that it’s just a few people who signed up after those sessions can get a whole hour talking through your trading with myself.
So make sure you jump on to those webinars if you’ve not already done so.
Forex Peace Army Exciting News
The other thing I have to tell you. I’ve been asked by Forex Peace Army to write for them. Now I respect Forex Peace Army. I think it’s the most important review site out there. And it has been for quite a number of years and they catch-out a huge number of people – catch them doing some really dodgy things within this industry.
And so I really respect them for that.
They’ve asked me, they’ve approached me and said, “Look Andrew, would you write for us so our clients can get some benefit from your trading knowledge”.
And I said, “Yes, sure I’ll help you out.”
So what I’m doing starting from this coming Monday is I’m going to be adding the strengths and weaknesses that I see each day on various pairs and writing that information down on their sites for people to follow along.
I put that information on my site for my clients plus a lot more.
But I’m just going to saying about some of the currency pair that I see has been particularly strong or being particularly weak for the upcoming day.
What will that help you do with your Forex Trading?
So what that allows the people to do is to try their own system whatever it might be – but knowing that, you’re trading with the likely direction for that upcoming 24 hours.
So look out for that and I’ll fill you with more details this time next week after I’ve been writing for the first week.
This weeks Forex Trades
On the trades themselves this week, the GBP has just crashed yet again and the GBP against the NZD and the AUD has just fallen away. And the GBP/NZD and also the EUR/NZD are now at historical lows and so there just doesn’t seem any end in sight for those two.
In fact today being Friday I’ve shorted the EUR against several other pairs. I can see that the EUR is falling back.  And the GBP of course is falling back. The Kiwi is looking the strongest. At the moment it’s the strongest currency and it just reached the 0.85 and just pushed through the 0.85 cents against the USD right now as I’m recording this.
So that could well push up a touch further.
Moving into Metals
And also away from the currencies, Gold & Silver have fallen.]]>293falsefullhttps://www.spreaker.com/episode/why-you-need-a-backup-plan-when-trading-forex--12239896In this video:
00:25                      Euro/Yen hits the level that’s not being seen since April 2010
01:04                      Importance of computer backups
01:51                      Took a buy trade on the USD/CAD
02:09                      Risking a half of 0.5% with a +2% return – absolutely huge
02:17                      Took a buy trade on the GBP/CHF
02:29                      Trade no risk whatsoever heading into the weekend
 
Hi traders, Andrew Mitchem here the Forex Trading Coach.
Today is Saturday the 9th of February.
I’m here on the beautiful island of Waiheke again. If you’ve not being here when you come to New Zealand – definitely get out over here – its well worth it.
EUR/JPY hits a level that’s not being seen since April 2010
Well this week, we’ve seen towards the end of the week, the Euro has been falling back, its been retracing. You may have noticed especially on a lot of the Yen pairs that historical highs have been hit. And for instance the Euro/Yen, it hits a level that’s not being seen since April 2010. And as we'd expect with such a strong resistance level, we formed a double top and the EUR/JPY’s pull back also so has the EUR/USD and even the EUR/GBP.
So whether we see that continuing to next week not sure yet, we need to see some candle patters next week on Monday onwards to see if the Euro bullish trends are  going to continue or if the more recent retracement is going to continue.
At this stage I’m out of the market so I’m just undecided right now.
 
A Trading Tip for You – Backing Up Your Information
One thing I wanted to mention was to do woith computer backups. We talked about this on my last webinar. It’s really important just to consider a backup if you lose all of your information on your computer or an internet connection.
Make sure you’ve got a backup laptop or make sure you have your account on a VPS server.
Make sure you've got your broker’s contact details with you.
In case you have an internet connection problem, have an iPhone hotspot backup. And always make sure that if you have a laptop or VPS you actually have all your trading software and your account pre loaded so you’re not there trying to download information when the worst should happen.
It’s one thing that we’ve talked about on the webinar. It’s just important to consider that – always have a backup.
2 good trades on Friday 
Trading wise, I actually took my trades coming over here into the island on a ferry yesterday and again the beauty of an iPhone as a hotspot and a laptop, you can trade from anywhere.
I took a buy trade on the USD/CAD yesterday and I suggested that to my clients.
Woke up this morning and worked absolutely beautifully. The retracement trade was a 2.5 risk to reward trade and the market order trade was a massive 4 to 1 risk reward.
Meaning: If I was risking a half of +1% on that trade (0.5%)  that was a +2% return – so absolutely huge.
I also took a buy trade on the GBP/CHF. It didn’t quite reach full profit but this morning just before the market closed I exited that position manually and a one to one risk reward.
So out of the trade no risk whatsoever heading into the weekend and any potential market gaps next week.
So that’s all I wanted to talk about for now.
I’m off to enjoy the island I look forward to talking to you this time next week. ]]>http://theforextradingcoach.com/?p=2687Sun, 10 Feb 2013 23:55:03 +0000Andrew MitchemPodcast: In this video: 00:25                      Euro/Yen hits the level that’s not being seen since April 2010 01:04                      Importance of computer backups 01:51                      Took a buy trade on the USD/CAD...In this video:
00:25                      Euro/Yen hits the level that’s not being seen since April 2010
01:04                      Importance of computer backups
01:51                      Took a buy trade on the USD/CAD
02:09                      Risking a half of 0.5% with a +2% return – absolutely huge
02:17                      Took a buy trade on the GBP/CHF
02:29                      Trade no risk whatsoever heading into the weekend
 
Hi traders, Andrew Mitchem here the Forex Trading Coach.
Today is Saturday the 9th of February.
I’m here on the beautiful island of Waiheke again. If you’ve not being here when you come to New Zealand – definitely get out over here – its well worth it.
EUR/JPY hits a level that’s not being seen since April 2010
Well this week, we’ve seen towards the end of the week, the Euro has been falling back, its been retracing. You may have noticed especially on a lot of the Yen pairs that historical highs have been hit. And for instance the Euro/Yen, it hits a level that’s not being seen since April 2010. And as we'd expect with such a strong resistance level, we formed a double top and the EUR/JPY’s pull back also so has the EUR/USD and even the EUR/GBP.
So whether we see that continuing to next week not sure yet, we need to see some candle patters next week on Monday onwards to see if the Euro bullish trends are  going to continue or if the more recent retracement is going to continue.
At this stage I’m out of the market so I’m just undecided right now.
 
A Trading Tip for You – Backing Up Your Information
One thing I wanted to mention was to do woith computer backups. We talked about this on my last webinar. It’s really important just to consider a backup if you lose all of your information on your computer or an internet connection.
Make sure you’ve got a backup laptop or make sure you have your account on a VPS server.
Make sure you've got your broker’s contact details with you.
In case you have an internet connection problem, have an iPhone hotspot backup. And always make sure that if you have a laptop or VPS you actually have all your trading software and your account pre loaded so you’re not there trying to download information when the worst should happen.
It’s one thing that we’ve talked about on the webinar. It’s just important to consider that – always have a backup.
2 good trades on Friday 
Trading wise, I actually took my trades coming over here into the island on a ferry yesterday and again the beauty of an iPhone as a hotspot and a laptop, you can trade from anywhere.
I took a buy trade on the USD/CAD yesterday and I suggested that to my clients.
Woke up this morning and worked absolutely beautifully. The retracement trade was a 2.5 risk to reward trade and the market order trade was a massive 4 to 1 risk reward.
Meaning: If I was risking a half of +1% on that trade (0.5%)  that was a +2% return – so absolutely huge.
I also took a buy trade on the GBP/CHF. It didn’t quite reach full profit but this morning just before the market closed I exited that position manually and a one to one risk reward.
So out of the trade no risk whatsoever heading into the weekend and any potential market gaps next week.
So that’s all I wanted to talk about for now.
I’m off to enjoy the island I look forward to talking to you this time next week. ]]>173falsefullhttps://www.spreaker.com/episode/how-much-would-you-like-to-earn-this-year-from-trading-for-just-10-minutes-per-day--12239899In this video:
00:29               Had massive strength continue in the Euro once again
01:14                Seeing some strength on the CAD/JPY
01:25                US employment data coming up at 8:30 on Friday – American time
02:06               CAD/JPY on a buy trade looking to continue upwards
02:13                Up about +1.3% earlier in the week
02:25                Had some fantastic feedback regarding the free training webinars
03:36                Annual return from trading just ten minutes once per day
How much would you like to earn this year from trading for just 10 minutes per day?

Hi traders Andrew Mitchem here the Forex Trading Coach.
Welcome along to another weekly video.
The EUR Strength continues
Well everything that I said last week has come through.  Remember last week I was talking about the Euro strength: will continue? I said probably it was going to. And of course this week we’ve had massive strength continue in the Euro once again. And I also said about the weakness in the JPY and that’s continued again this week with all currencies heading upwards against the Yen. So we’ve had the EUR/JPY, the GBP/JPY, AUD/JPY, NZD/JYP, CAD/JPY, the CHF/JPY and USD/JPY – all of them have increased against the JPY.  So huge weakness there, and remember I said that on last week’s video.
A weak AUD$
I also mentioned at the end of last week’s video that the Australian Dollar was looking weak and you'd have noticed that has come through as well this week with AUD$ being fairly week.  Interesting that the NZD$ has been relatively strong and today I’ve also taken a buy trade on the CAD/JPY so I can see some strength in the CAD/JPY today. And that’s open behind me right here going very nicely at this stage.
US Non Farm Payroll's today 
Remember also today is the Non-Farm Payrolls. So that’s the US employment data coming up at 8:30 on Friday – American time.  So for those of us this side of the world, that’s around 2:30 in the morning in New Zealand.  So 8:30am US time American time in New York – Non-Farm Payroll.
Close out your open trades
So at that stage, make sure that you close out any shorter time frame trades before that news announcement.  With the longer time frame charts like the daily chart, say if you have weekly trades open, you could probably keep those open going through the announcement but anything from let’s say a four hour chart and lower, definitely close that before the employment data comes out.
Buying CAD/JPY today
I’ve taken just the one trade today. Like I mentioned, the CAD/JPY on a buy trade looking for that to continue upwards.
This week's profit
I was up about +1.3% earlier in the week on my account for this week. Just come back slightly I had a few losing trades yesterday but still it should end up being a good week overall.
Free Forex Trading Webinar – register
Had some fantastic feedback from people regarding the free training webinars that I offer. So if you haven’t seen that yet, make sure you sign up to that on the website here and for those of you who do attend that I’ve got a really special offer near the end of the one hour presentation. So make sure you jump on those free training webinars. I’m holding them twice a week. So regardless on where you live in the world there’s one that you can watch.
 
A Question for You
And then lastly, just wanted to talk about, yeah the poll I was going to ask. I was going to get a poll out to people  but I thought I’d ask you on this video instead.
“How much would you be happy making in one year with really low risk by trading  just ten minutes once a day?”
 If you’ve got a figure in mind and make it a sensible figure that you’d be genuinely happy with.  Email it through to me if you could.]]>http://theforextradingcoach.com/?p=2605Sun, 03 Feb 2013 22:50:40 +0000Andrew MitchemPodcast: In this video: 00:29               Had massive strength continue in the Euro once again 01:14                Seeing some strength on the CAD/JPY 01:25                US employment data coming up at 8:30 on Friday – American time 02:06        ...In this video:
00:29               Had massive strength continue in the Euro once again
01:14                Seeing some strength on the CAD/JPY
01:25                US employment data coming up at 8:30 on Friday – American time
02:06               CAD/JPY on a buy trade looking to continue upwards
02:13                Up about +1.3% earlier in the week
02:25                Had some fantastic feedback regarding the free training webinars
03:36                Annual return from trading just ten minutes once per day
How much would you like to earn this year from trading for just 10 minutes per day?

Hi traders Andrew Mitchem here the Forex Trading Coach.
Welcome along to another weekly video.
The EUR Strength continues
Well everything that I said last week has come through.  Remember last week I was talking about the Euro strength: will continue? I said probably it was going to. And of course this week we’ve had massive strength continue in the Euro once again. And I also said about the weakness in the JPY and that’s continued again this week with all currencies heading upwards against the Yen. So we’ve had the EUR/JPY, the GBP/JPY, AUD/JPY, NZD/JYP, CAD/JPY, the CHF/JPY and USD/JPY – all of them have increased against the JPY.  So huge weakness there, and remember I said that on last week’s video.
A weak AUD$
I also mentioned at the end of last week’s video that the Australian Dollar was looking weak and you'd have noticed that has come through as well this week with AUD$ being fairly week.  Interesting that the NZD$ has been relatively strong and today I’ve also taken a buy trade on the CAD/JPY so I can see some strength in the CAD/JPY today. And that’s open behind me right here going very nicely at this stage.
US Non Farm Payroll's today 
Remember also today is the Non-Farm Payrolls. So that’s the US employment data coming up at 8:30 on Friday – American time.  So for those of us this side of the world, that’s around 2:30 in the morning in New Zealand.  So 8:30am US time American time in New York – Non-Farm Payroll.
Close out your open trades
So at that stage, make sure that you close out any shorter time frame trades before that news announcement.  With the longer time frame charts like the daily chart, say if you have weekly trades open, you could probably keep those open going through the announcement but anything from let’s say a four hour chart and lower, definitely close that before the employment data comes out.
Buying CAD/JPY today
I’ve taken just the one trade today. Like I mentioned, the CAD/JPY on a buy trade looking for that to continue upwards.
This week's profit
I was up about +1.3% earlier in the week on my account for this week. Just come back slightly I had a few losing trades yesterday but still it should end up being a good week overall.
Free Forex Trading Webinar – register
Had some fantastic feedback from people regarding the free training webinars that I offer. So if you haven’t seen that yet, make sure you sign up to that on the website here and for those of you who do attend that I’ve got a really special offer near the end of the one hour presentation. So make sure you jump on those free training webinars. I’m holding them twice a week. So regardless on where you live in the world there’s one that you can watch.
 
A Question for You
And then lastly, just wanted to talk about, yeah the poll I was going to ask. I was going to get a poll out to people  but I thought I’d ask you on this video instead.
“How much would you be happy making in one year with really low risk by trading  just ten minutes once a day?”
 If you’ve got a figure in mind and make it a sensible figure that you’d be genuinely happy with.  Email it through to me if you could.]]>246falsefullhttps://www.spreaker.com/episode/will-the-euro-s-strength-continue-next-week--12239901
In this video:
00:35 Saw renewed strength in the Japanese Yen earlier in the week
01:50 Euro strength continuing probably into next week
02:02 Holding a live web trading webinar every two weeks
02:14 Taking a short position on the Australian Dollar/New Zealand Dollar
02:36 Positive feedback on the website’s new professional look
03:15 Good introduction to Forex Trading tips
04:36 Sign up for the lot size calculator
Hi Traders, Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 25th of January – it's nearly the end of the first month of the year already – Can you believe it!?
Well, it’s been a fairly quiet week in terms of the couple first few days of the week. Fairly quiet but then as we’ve developed into the week things are really starting to move again. Earlier in the week we saw renewed strength in the Japanese Yen and I said at that time to my clients, “Look just be really careful with this.”
I actually did take the trade where I was short in the Euro/Yen looking for a pull back. But I mentioned all along throughout the week up until Wednesday: Just be really careful because we are trading against the major trend which has been Japanese weakness. And so we did fairly well out with the trade. It didn't hit full profit and then there was an obvious reversal bar looking for the price in the Yen to weaken the Euro/Yen almost everything against the Yen to push back up again.
And that’s what we’re seeing now at the end of the week.
So today being Friday, I’ve gone long on the EUR/JPY, the CHF/Yen, the CAD/JPY and looking for that JPY weakness to continue. And right now with the trades behind me, when I just looked, they we’re going ready well.
So that’s great!
Euro Forex Focus
And the Euro, although its been fairly quiet throughout a lot of the week, it’s now showing a lot of strength heading into the last day of the week. And I would anticipate at this stage unless anything dramatic happens later today in the European and then US session, I would anticipate that the Euro strength continuing probably into next week.
Australian Dollar Forex Focus and Weakness
And also I’m looking for Australian Dollar weakness today. I mentioned the Australian Dollar weakness in last night’s client’s webinar. So every two weeks I hold a live trading room webinar with my clients and we were looking at opportunities to go short in the Australian Dollar. And there were few days showing and clients did take some of those.
I did take a short position on the Australian Dollar/New Zealand Dollar on the one hour chart and it worked absolutely perfectly. Just took me out this morning my time when I woke up and hit full profit so I was really pleased to get that one.
Thanks for the new Forex Website Feedback
Elsewhere, also you'll see that my website has been changed right now, really positive feedback of that people loving the new look, new fresh of professional look of the website. So thank you for your comments over that one.
Weekly Training Webinars Now Available
And if you haven't already done so and you’re not currently a client and you are relatively new to trading, make sure that you sign up for one of my free webinars. You can just sign up these two sessions every week. It lasts about an hour and you can choose either a twelve hour split so you can trade something that’s going to suit you regardless the way you live in the world.
So you can see those on my website. Sign up for them. They’re free and they last like I said about an hour. Really good tips in there – some really good introduction to Forex Trading tips that you can learn and benefit from.
Not Got The Forex Trading Coach Lot Size Calculator – Why Not?
Also just to let you know on this site,]]>http://theforextradingcoach.com/?p=2474Mon, 28 Jan 2013 11:29:00 +0000Andrew MitchemPodcast: In this video: 00:35 Saw renewed strength in the Japanese Yen earlier in the week 01:50 Euro strength continuing probably into next week 02:02 Holding a live web trading webinar every two weeks 02:14 Taking a short position on the Australian...
In this video:
00:35 Saw renewed strength in the Japanese Yen earlier in the week
01:50 Euro strength continuing probably into next week
02:02 Holding a live web trading webinar every two weeks
02:14 Taking a short position on the Australian Dollar/New Zealand Dollar
02:36 Positive feedback on the website’s new professional look
03:15 Good introduction to Forex Trading tips
04:36 Sign up for the lot size calculator
Hi Traders, Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 25th of January – it's nearly the end of the first month of the year already – Can you believe it!?
Well, it’s been a fairly quiet week in terms of the couple first few days of the week. Fairly quiet but then as we’ve developed into the week things are really starting to move again. Earlier in the week we saw renewed strength in the Japanese Yen and I said at that time to my clients, “Look just be really careful with this.”
I actually did take the trade where I was short in the Euro/Yen looking for a pull back. But I mentioned all along throughout the week up until Wednesday: Just be really careful because we are trading against the major trend which has been Japanese weakness. And so we did fairly well out with the trade. It didn't hit full profit and then there was an obvious reversal bar looking for the price in the Yen to weaken the Euro/Yen almost everything against the Yen to push back up again.
And that’s what we’re seeing now at the end of the week.
So today being Friday, I’ve gone long on the EUR/JPY, the CHF/Yen, the CAD/JPY and looking for that JPY weakness to continue. And right now with the trades behind me, when I just looked, they we’re going ready well.
So that’s great!
Euro Forex Focus
And the Euro, although its been fairly quiet throughout a lot of the week, it’s now showing a lot of strength heading into the last day of the week. And I would anticipate at this stage unless anything dramatic happens later today in the European and then US session, I would anticipate that the Euro strength continuing probably into next week.
Australian Dollar Forex Focus and Weakness
And also I’m looking for Australian Dollar weakness today. I mentioned the Australian Dollar weakness in last night’s client’s webinar. So every two weeks I hold a live trading room webinar with my clients and we were looking at opportunities to go short in the Australian Dollar. And there were few days showing and clients did take some of those.
I did take a short position on the Australian Dollar/New Zealand Dollar on the one hour chart and it worked absolutely perfectly. Just took me out this morning my time when I woke up and hit full profit so I was really pleased to get that one.
Thanks for the new Forex Website Feedback
Elsewhere, also you'll see that my website has been changed right now, really positive feedback of that people loving the new look, new fresh of professional look of the website. So thank you for your comments over that one.
Weekly Training Webinars Now Available
And if you haven't already done so and you’re not currently a client and you are relatively new to trading, make sure that you sign up for one of my free webinars. You can just sign up these two sessions every week. It lasts about an hour and you can choose either a twelve hour split so you can trade something that’s going to suit you regardless the way you live in the world.
So you can see those on my website. Sign up for them. They’re free and they last like I said about an hour. Really good tips in there – some really good introduction to Forex Trading tips that you can learn and benefit from.
Not Got The Forex Trading Coach Lot Size Calculator – Why Not?
Also just to let you know on this site,]]>296falsefullhttps://www.spreaker.com/episode/amazing-results-shared-by-a-client-of-the-forex-trading-coach--12239904In this video:
00:29  Webinar held last week – amazing results shared by Anne Marie
01:32   Entering part of the market this year
01:47   How to be a successful trader
02:20  Free information going through 2013 – assist you in trading
02:41   Lot of strengths heading into the Euros
03:08  Huge weakness Identified
03:43  Trade what you see NOT what you think
04:22  Charts tell you where the price is actually heading
 
Hi Traders, it’s Andrew Mitchem here and welcome to 2013.
This is my first weekly video for the year as I have just started trading this week.
Well I hope you had a fantastic Christmas and New Year and you really pumped up excited to get back into your trading.
Just to let you know that last week I held a webinar for my clients and in that webinar we had some amazing results as shared by Anne Marie who lives over in Adelaide in Australia.
She’s been a client of mine since July, 2011. And Anne Marie, she’s taken all of my daily trade suggestions and she’s entered them at part at the market and part at the retracement. So she’s taking just half of +1% (0.5%) of her account and placed that at the market order and 0.5% of her account – so half of 1 percent at the retracement.
And she's has a combined figure (without compounding) using purely a 100% set and forget strategy of an amazing 51%.  So she started in August of 2011. She joined just the month prior – so between August of 2011 and December 2012,  she returned over 51% if you include compounding into that.
So pretty amazing result!
And I shared with my clients how we're looking at entering part of the market this year, part of the position at the market and part of retracement. And what that gives us with the unique way that we’re entering those trades is a high risk to reward on both positions and that’s really important in order to be a successful trader – to have the high risk to reward risk on all of your trades.
What else has happened?
Well like I mentioned I’ve started trading myself just this last week now that the market conditions are coming back into normality after the break.
Refreshed Website
Also really excited to let you know and probably if you’re watching this video you’d already see that my websites had a complete facelift to completely overhaul and redesign, trying to make everything far easier for you to navigate around and also supplying you with some really good information as we go through 2013: Free information that’s out there that will really assist you with your trading.
So keep a look out for that. And also there's some really excited things to come that none of my clients know about it yet but it’s all in the pipeline and on the to-do-list of 2013.
Forex Trading Strategies
Looking at the actual trades themselves!
This week definitely have a lot of strength heading into the Euro. So the Euro has been going up and up and up. It did have a slight retracement but overall it's been pushing up and the Japanese Yen just crashed. There’s weakness in the Yen. It’s showing weakness against almost every currency.
Even the currencies that are looking slightly weak, like the British Pound has been looking weak this current week but even against the Yen,  the Pound/Yen cross has still been going up so huge weakness in the Japanese Yen and strength in the Euro.
Now, that comes back to me being a technical trader and why I love technical trading because there may be some fundamentals out there to say, really is this Euro too high?
Well to me it doesn’t matter why it’s going high. The fact is that, it’s been driven higher. Same with Yen – it’s been pushed down and so what’s happening? Well, you know I don’t really worry too much about that.
So it’s really important to use a phrase that I teach to my clie...]]>http://theforextradingcoach.com/?p=2366Sun, 20 Jan 2013 22:59:33 +0000Andrew MitchemPodcast: In this video: 00:29  Webinar held last week – amazing results shared by Anne Marie 01:32   Entering part of the market this year 01:47   How to be a successful trader 02:20  Free information going through 2013 – assist you in trading 02:41  ...In this video:
00:29  Webinar held last week – amazing results shared by Anne Marie
01:32   Entering part of the market this year
01:47   How to be a successful trader
02:20  Free information going through 2013 – assist you in trading
02:41   Lot of strengths heading into the Euros
03:08  Huge weakness Identified
03:43  Trade what you see NOT what you think
04:22  Charts tell you where the price is actually heading
 
Hi Traders, it’s Andrew Mitchem here and welcome to 2013.
This is my first weekly video for the year as I have just started trading this week.
Well I hope you had a fantastic Christmas and New Year and you really pumped up excited to get back into your trading.
Just to let you know that last week I held a webinar for my clients and in that webinar we had some amazing results as shared by Anne Marie who lives over in Adelaide in Australia.
She’s been a client of mine since July, 2011. And Anne Marie, she’s taken all of my daily trade suggestions and she’s entered them at part at the market and part at the retracement. So she’s taking just half of +1% (0.5%) of her account and placed that at the market order and 0.5% of her account – so half of 1 percent at the retracement.
And she's has a combined figure (without compounding) using purely a 100% set and forget strategy of an amazing 51%.  So she started in August of 2011. She joined just the month prior – so between August of 2011 and December 2012,  she returned over 51% if you include compounding into that.
So pretty amazing result!
And I shared with my clients how we're looking at entering part of the market this year, part of the position at the market and part of retracement. And what that gives us with the unique way that we’re entering those trades is a high risk to reward on both positions and that’s really important in order to be a successful trader – to have the high risk to reward risk on all of your trades.
What else has happened?
Well like I mentioned I’ve started trading myself just this last week now that the market conditions are coming back into normality after the break.
Refreshed Website
Also really excited to let you know and probably if you’re watching this video you’d already see that my websites had a complete facelift to completely overhaul and redesign, trying to make everything far easier for you to navigate around and also supplying you with some really good information as we go through 2013: Free information that’s out there that will really assist you with your trading.
So keep a look out for that. And also there's some really excited things to come that none of my clients know about it yet but it’s all in the pipeline and on the to-do-list of 2013.
Forex Trading Strategies
Looking at the actual trades themselves!
This week definitely have a lot of strength heading into the Euro. So the Euro has been going up and up and up. It did have a slight retracement but overall it's been pushing up and the Japanese Yen just crashed. There’s weakness in the Yen. It’s showing weakness against almost every currency.
Even the currencies that are looking slightly weak, like the British Pound has been looking weak this current week but even against the Yen,  the Pound/Yen cross has still been going up so huge weakness in the Japanese Yen and strength in the Euro.
Now, that comes back to me being a technical trader and why I love technical trading because there may be some fundamentals out there to say, really is this Euro too high?
Well to me it doesn’t matter why it’s going high. The fact is that, it’s been driven higher. Same with Yen – it’s been pushed down and so what’s happening? Well, you know I don’t really worry too much about that.
So it’s really important to use a phrase that I teach to my clie...]]>286falsefullhttps://www.spreaker.com/episode/forex-the-perfect-gift-for-christmas--12239902In this video:
00:38              When's the right time to learn profitable Forex?
00:45              Ready to be active into 2013
00:53              Have reached fifty reviews on the Forex page
01:16              Latest Forex Client's Impressive Trading Result following my system
Hi there! Andrew Mitchem, the Forex Trading Coach.
It's Thursday, the 20th of December and as you can see, it’s a fantastic day, just a few days away from Christmas.
And so at this time of the year, it’s really nice to take a couple of weeks away from your trading.
The markets are likely to be fairly quiet and quiet flat. So this time of year is a good time to take a couple of weeks away, to be ready for the next fifty weeks of the year. Next year, we can get back into trading again.
If you’re not trading yet, or you’re not successfully trading yet and you’d like to get on top of my course, get into it and spend the next 2 or 3 weeks wisely learning the profitable Forex system.
Ready to be active in 2013!
Learning the system, ready to be active into 2013, I’ll make it a fantastic year.
Also I wanted to share with you – I’ve just reached fifty reviews on the Forex Peace Army website. And the latest review (latest five star review) is from a gent from Auckland here in New Zealand. After his first full year of taking my course, he has achieved over +42% on his live account!
So how would you like that to be you this time next year? Just before Christmas next year you can say, “I’ve taken Andrew’s course and I’ve made over +42% on the live account.” Just imagine how that would feel?
Well, over the Christmas period, I’ll be contactable by email. So if you would like to take my course then, I will be available.
Merry Christmas!
Enjoy yourselves over Christmas. Have a very happy and safe Christmas. Have an amazing time!
Look forward to talking to you in 2013.
And I’ve got one final thing to say! Right behind me, if on cue, my three kids, should be saying, “Merry Christmas!”
 Merry Christmas! Have a fantastic time wherever you may be.
Look forward to talking to you next year.
Bye for now.]]>http://theforextradingcoach.com/?p=1955Fri, 21 Dec 2012 23:32:03 +0000Andrew MitchemPodcast: In this video: 00:38              When's the right time to learn profitable Forex? 00:45              Ready to be active into 2013 00:53              Have reached fifty reviews on the Forex page 01:16              Latest Forex Client's...In this video:
00:38              When's the right time to learn profitable Forex?
00:45              Ready to be active into 2013
00:53              Have reached fifty reviews on the Forex page
01:16              Latest Forex Client's Impressive Trading Result following my system
Hi there! Andrew Mitchem, the Forex Trading Coach.
It's Thursday, the 20th of December and as you can see, it’s a fantastic day, just a few days away from Christmas.
And so at this time of the year, it’s really nice to take a couple of weeks away from your trading.
The markets are likely to be fairly quiet and quiet flat. So this time of year is a good time to take a couple of weeks away, to be ready for the next fifty weeks of the year. Next year, we can get back into trading again.
If you’re not trading yet, or you’re not successfully trading yet and you’d like to get on top of my course, get into it and spend the next 2 or 3 weeks wisely learning the profitable Forex system.
Ready to be active in 2013!
Learning the system, ready to be active into 2013, I’ll make it a fantastic year.
Also I wanted to share with you – I’ve just reached fifty reviews on the Forex Peace Army website. And the latest review (latest five star review) is from a gent from Auckland here in New Zealand. After his first full year of taking my course, he has achieved over +42% on his live account!
So how would you like that to be you this time next year? Just before Christmas next year you can say, “I’ve taken Andrew’s course and I’ve made over +42% on the live account.” Just imagine how that would feel?
Well, over the Christmas period, I’ll be contactable by email. So if you would like to take my course then, I will be available.
Merry Christmas!
Enjoy yourselves over Christmas. Have a very happy and safe Christmas. Have an amazing time!
Look forward to talking to you in 2013.
And I’ve got one final thing to say! Right behind me, if on cue, my three kids, should be saying, “Merry Christmas!”
 Merry Christmas! Have a fantastic time wherever you may be.
Look forward to talking to you next year.
Bye for now.]]>117falsefullhttps://www.spreaker.com/episode/5-trading-tips-to-improve-your-forex-trading--12239905
In this video:
00:21                     Special webinar open to everybody – 14th of December
                             Register HERE
00:48                    Five tips that will benefit your trading – heading to 2013
01:15                     Learning Forex Trading correctly
01:43                     Doing very well in longer time frame charts
02:07                     Non-Farm Payrolls came out above expectation!
02:50                     Looking for EURO short positions
Hi everybody, Andrew Mitchem the Forex Trading Coach.
Welcome along! Today is Saturday, 8th of December.
Well next Friday, on the 14th of December, I’m holding a special webinar that’s open to everybody. The webinar will most likely be full so make sure that you do register. There will be a link underneath this video.
The webinar is going to be designed for those of you who are newer to trading or maybe you’ve been trading for a short while and still struggling to become consistently profitable.
Top Five Forex Tips heading to 2013
It’s going to talk about my journey through Forex but also I’m going to give you some really good points of the five major tips to give away that I used every day as a successful Forex trader. And I know that you’re going to find those tips really useful and will benefit your trading heading into 2013.
And a lot people find that this time of year – the Christmas/New Year period – When many people have some time off work, it’s an excellent opportunity to use that time wisely and learn a skill (up skill yourself) learn Forex Trading correctly so that heading into the New Year, you have yourself a really good base to progress forward and makes some really good gains heading in the 2013.
So that’s coming up next Friday. Make sure that you register for that! Link is here:
Personally I’ve been away all week. I’ve been down in Queenstown, so I’ve been trading only on the Daily charts and the 4 Hour charts.
And that goes to show that if you’re away somewhere (you’re travelling) – you can trade just those longer time frame charts and still do very well.
Non-Farm Payrolls above expectation!
Personally, I’ve had a +0.3 % gain for the week – not massive but that’s still a gain anyway.
So happy with that considering really I’ve spent no more than probably one hour in the total of the last week (actually trading looking at my charts).
As I predicted to my clients yesterday the Non-Farm Payrolls came out above expectation. You could see that really probably was going to occur as the US Dollar was strengthening quiet a lot against most of the other currencies over the last couple of days.
And also as I predicted to my clients on Wednesday, the Euro has fallen and the EUR/USD that is, because it was obvious when you look at the charts that the 131 resistance level had been hit – failed really to be broken as significantly – And then there was an overbought situation with the EUR/USD and became quite obvious that that currency pair was going to fall.
And like I mentioned, I predicted that to my clients on Wednesday of this week suggesting that they look for EURO short positions when appropriate.
So that’s some of the things that I offer my clients – looking at the strengths and weaknesses of each currency on a daily basis which then helps them to go and trade the shorter time frame charts with the knowledge that they have – the strength and weakness behind them – as well as the actual technical setup on their chart that I teach.
So that’s all for now!
Make sure to register – 14th of December
Make sure that you do register for Friday’s event.]]>http://theforextradingcoach.com/?p=1923Mon, 10 Dec 2012 20:46:49 +0000Andrew MitchemPodcast: In this video: 00:21                     Special webinar open to everybody – 14th of December                              Register HERE 00:48                    Five tips that will benefit your trading – heading to 2013...
In this video:
00:21                     Special webinar open to everybody – 14th of December
                             Register HERE
00:48                    Five tips that will benefit your trading – heading to 2013
01:15                     Learning Forex Trading correctly
01:43                     Doing very well in longer time frame charts
02:07                     Non-Farm Payrolls came out above expectation!
02:50                     Looking for EURO short positions
Hi everybody, Andrew Mitchem the Forex Trading Coach.
Welcome along! Today is Saturday, 8th of December.
Well next Friday, on the 14th of December, I’m holding a special webinar that’s open to everybody. The webinar will most likely be full so make sure that you do register. There will be a link underneath this video.
The webinar is going to be designed for those of you who are newer to trading or maybe you’ve been trading for a short while and still struggling to become consistently profitable.
Top Five Forex Tips heading to 2013
It’s going to talk about my journey through Forex but also I’m going to give you some really good points of the five major tips to give away that I used every day as a successful Forex trader. And I know that you’re going to find those tips really useful and will benefit your trading heading into 2013.
And a lot people find that this time of year – the Christmas/New Year period – When many people have some time off work, it’s an excellent opportunity to use that time wisely and learn a skill (up skill yourself) learn Forex Trading correctly so that heading into the New Year, you have yourself a really good base to progress forward and makes some really good gains heading in the 2013.
So that’s coming up next Friday. Make sure that you register for that! Link is here:
Personally I’ve been away all week. I’ve been down in Queenstown, so I’ve been trading only on the Daily charts and the 4 Hour charts.
And that goes to show that if you’re away somewhere (you’re travelling) – you can trade just those longer time frame charts and still do very well.
Non-Farm Payrolls above expectation!
Personally, I’ve had a +0.3 % gain for the week – not massive but that’s still a gain anyway.
So happy with that considering really I’ve spent no more than probably one hour in the total of the last week (actually trading looking at my charts).
As I predicted to my clients yesterday the Non-Farm Payrolls came out above expectation. You could see that really probably was going to occur as the US Dollar was strengthening quiet a lot against most of the other currencies over the last couple of days.
And also as I predicted to my clients on Wednesday, the Euro has fallen and the EUR/USD that is, because it was obvious when you look at the charts that the 131 resistance level had been hit – failed really to be broken as significantly – And then there was an overbought situation with the EUR/USD and became quite obvious that that currency pair was going to fall.
And like I mentioned, I predicted that to my clients on Wednesday of this week suggesting that they look for EURO short positions when appropriate.
So that’s some of the things that I offer my clients – looking at the strengths and weaknesses of each currency on a daily basis which then helps them to go and trade the shorter time frame charts with the knowledge that they have – the strength and weakness behind them – as well as the actual technical setup on their chart that I teach.
So that’s all for now!
Make sure to register – 14th of December
Make sure that you do register for Friday’s event.]]>217falsefullhttps://www.spreaker.com/episode/two-wins-and-one-loss-in-this-weeks-client-only-forex-live-trading-room--12239903In this video:
00:22              Had a fantastic seminar last Tuesday up in Auckland
00:33              Webinar live on Friday, the 14th of December – you're welcome to register!
00:56              A client made +23% on live account since taking my course
01:21              Took three trades live on webinar
01:27              GBP/CHF trade hit profit in only in 23 minutes on H1 chart
01:52              Non-farm payrolls for December
Hi everybody, Andrew Mitchem here, the Forex Trading Coach.
Today is Sunday, the 2nd of December.
I’m in beautiful Queenstown in the South Island. So this week, I’m going to trade from my laptop not the four screens you usually see behind me. Just trading from the laptop this week, and I'll be looking at just the daily charts and then the four hourly charts, and then enjoying this stunning place in between time!
You're welcome to register!
Just to let you know I’ve had a fantastic seminar last Tuesday up in Auckland. We had a full room and I’ll be putting that same seminar as a presentation, as a webinar, which will be held on Friday, the 14th of December 2012.
So you’re more than welcome to register to attend that webinar live.
I’m going to talk about my journey through Forex. How I started as a dairy farmer and where I’ve ended up today as a full time Forex Trader and Funds Manager.
So register for that and I’ll send you a link so you can attend. Register here NOW
Excellent money from taking my course
Just to let you know, when I was at the seminar last week, a client of mine came up to me and said, “Hey Andrew, I’ve already been with you trading live for just over one month since taking your course, and I’ve already made +23% on my live account.”
So it’s really good when I hear things like that – It gives me great confidence that people out there are making excellent money from taking my course
British Pound & Swiss Franc hit profit
We also have a webinar on Thursday night for my clients and on that I took three trades live: Two of the made profit, One made a loss. 
One of those – the British Pound/Swiss Franc (GBP/CHF) hit profit in only 23 minutes for a +1.71 risk/reward. The other trade on the US/Franc, made +1.5 risk/rewards.
So there’s three really good trades that like I said – all taken live!
The week ahead we have interest rates out of New Zealand, Australia, Britain and also Canada. And of course now into December we have the Non-Farm Payrolls on Friday or Saturday morning for us at New Zealand and Friday: US time.
That’s all for now!
I’m off to enjoy the wonderful scenery here.
Look forward to talking to you this time next week.]]>http://theforextradingcoach.com/?p=1872Mon, 03 Dec 2012 22:58:37 +0000Andrew MitchemPodcast: In this video: 00:22              Had a fantastic seminar last Tuesday up in Auckland 00:33              Webinar live on Friday, the 14th of December – you're welcome to register! 00:56              A client made +23% on live account since...In this video:
00:22              Had a fantastic seminar last Tuesday up in Auckland
00:33              Webinar live on Friday, the 14th of December – you're welcome to register!
00:56              A client made +23% on live account since taking my course
01:21              Took three trades live on webinar
01:27              GBP/CHF trade hit profit in only in 23 minutes on H1 chart
01:52              Non-farm payrolls for December
Hi everybody, Andrew Mitchem here, the Forex Trading Coach.
Today is Sunday, the 2nd of December.
I’m in beautiful Queenstown in the South Island. So this week, I’m going to trade from my laptop not the four screens you usually see behind me. Just trading from the laptop this week, and I'll be looking at just the daily charts and then the four hourly charts, and then enjoying this stunning place in between time!
You're welcome to register!
Just to let you know I’ve had a fantastic seminar last Tuesday up in Auckland. We had a full room and I’ll be putting that same seminar as a presentation, as a webinar, which will be held on Friday, the 14th of December 2012.
So you’re more than welcome to register to attend that webinar live.
I’m going to talk about my journey through Forex. How I started as a dairy farmer and where I’ve ended up today as a full time Forex Trader and Funds Manager.
So register for that and I’ll send you a link so you can attend. Register here NOW
Excellent money from taking my course
Just to let you know, when I was at the seminar last week, a client of mine came up to me and said, “Hey Andrew, I’ve already been with you trading live for just over one month since taking your course, and I’ve already made +23% on my live account.”
So it’s really good when I hear things like that – It gives me great confidence that people out there are making excellent money from taking my course
British Pound & Swiss Franc hit profit
We also have a webinar on Thursday night for my clients and on that I took three trades live: Two of the made profit, One made a loss. 
One of those – the British Pound/Swiss Franc (GBP/CHF) hit profit in only 23 minutes for a +1.71 risk/reward. The other trade on the US/Franc, made +1.5 risk/rewards.
So there’s three really good trades that like I said – all taken live!
The week ahead we have interest rates out of New Zealand, Australia, Britain and also Canada. And of course now into December we have the Non-Farm Payrolls on Friday or Saturday morning for us at New Zealand and Friday: US time.
That’s all for now!
I’m off to enjoy the wonderful scenery here.
Look forward to talking to you this time next week.]]>138falsefullhttps://www.spreaker.com/episode/andrew-mitchem-talks-about-how-trading-forex-changed-his-life--12239906 
In this video:
00:30              Going to talk as a guest speaker – 27th of November
01:01              A more advanced trading webinar in December
01:13              Fantastic trades on the daily charts
01:17              Looking for retracements
01:40              Japanese Yen weakness continue throughout this week
01:49              Gold and Silver continue to rise
02:24              Trading is about consistency
 
Hi everybody Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 23rd of November.
Another stunning day so I’m outside again!
Well, next Tuesday I’m going to talk – that’s Tuesday, the 27th of November – I’m at Auckland as a guest speaker for broker this coming to launch into New Zealand.
Forex has changed my life
I’m going to be talking about my story and how Forex has changed my life: How I started nine years ago as a dairy farmer and now developed into a full time Forex Trader. Because that seminar is being held at Auckland, obviously a lot of people won’t be able to attend so I’m going to make that same seminar into a webinar, as a presentation. That’s going to be held in a few weeks time and you will be able to attend that presentation – LIVE!
For those of you who are more advanced traders, more experienced traders I’m also going to be holding in December, a more advanced trader’s webinar. I’m going to share a lot of the tips and techniques that I employ in my trading on a daily basis.
Fantastic trades especially on the daily charts
This week, I’ve had some fantastic trades especially on the daily charts. There are a lot of trades that have retraced very nicely on the daily chart using the techniques that I suggest my clients to use.
So I’m not always looking at entering at the market. Quiet often I’m looking for retracements first. For example on a buy trade – I’m looking for a retracement further down before the trade then reverses and takes off in my desired direction.
As I mentioned last week, the Japanese Yen weakness – that did continue throughout this week! There’s been a lot of weakness on the Yen – possibly could continue into next week.
Buy trade on both Gold and Silver
Gold and Silver have also continued to rise this week.
Two weeks ago I took a buy trade on both Gold and Silver. A long trade on both – they retraced last week. They were negative last week but then this week have turned around and gone on to hit full profit as expected.
Don’t Overtrade!
Another thing just to mention is – “Don’t Over Trade”. This week there has been a public holiday in the US and also in Japan which is meant there’s not being too many really good setups on the charts this week.
So don’t overtrade!
You know there are no prizes for trading more. Trading is all about consistency – picking good setups and taking them when you see them. But you definitely do not need to take too many trades just for the sake of trading.
All that’s going to do is feed your broker’s pocket and take it from yours which is of course – we don’t want!
So that’s all for now!
Looking forward to talking to you this time next week.]]>http://theforextradingcoach.com/?p=1853Mon, 26 Nov 2012 10:14:38 +0000Andrew MitchemPodcast:   In this video: 00:30              Going to talk as a guest speaker – 27th of November 01:01              A more advanced trading webinar in December 01:13              Fantastic trades on the daily charts 01:17              Looking for... 
In this video:
00:30              Going to talk as a guest speaker – 27th of November
01:01              A more advanced trading webinar in December
01:13              Fantastic trades on the daily charts
01:17              Looking for retracements
01:40              Japanese Yen weakness continue throughout this week
01:49              Gold and Silver continue to rise
02:24              Trading is about consistency
 
Hi everybody Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 23rd of November.
Another stunning day so I’m outside again!
Well, next Tuesday I’m going to talk – that’s Tuesday, the 27th of November – I’m at Auckland as a guest speaker for broker this coming to launch into New Zealand.
Forex has changed my life
I’m going to be talking about my story and how Forex has changed my life: How I started nine years ago as a dairy farmer and now developed into a full time Forex Trader. Because that seminar is being held at Auckland, obviously a lot of people won’t be able to attend so I’m going to make that same seminar into a webinar, as a presentation. That’s going to be held in a few weeks time and you will be able to attend that presentation – LIVE!
For those of you who are more advanced traders, more experienced traders I’m also going to be holding in December, a more advanced trader’s webinar. I’m going to share a lot of the tips and techniques that I employ in my trading on a daily basis.
Fantastic trades especially on the daily charts
This week, I’ve had some fantastic trades especially on the daily charts. There are a lot of trades that have retraced very nicely on the daily chart using the techniques that I suggest my clients to use.
So I’m not always looking at entering at the market. Quiet often I’m looking for retracements first. For example on a buy trade – I’m looking for a retracement further down before the trade then reverses and takes off in my desired direction.
As I mentioned last week, the Japanese Yen weakness – that did continue throughout this week! There’s been a lot of weakness on the Yen – possibly could continue into next week.
Buy trade on both Gold and Silver
Gold and Silver have also continued to rise this week.
Two weeks ago I took a buy trade on both Gold and Silver. A long trade on both – they retraced last week. They were negative last week but then this week have turned around and gone on to hit full profit as expected.
Don’t Overtrade!
Another thing just to mention is – “Don’t Over Trade”. This week there has been a public holiday in the US and also in Japan which is meant there’s not being too many really good setups on the charts this week.
So don’t overtrade!
You know there are no prizes for trading more. Trading is all about consistency – picking good setups and taking them when you see them. But you definitely do not need to take too many trades just for the sake of trading.
All that’s going to do is feed your broker’s pocket and take it from yours which is of course – we don’t want!
So that’s all for now!
Looking forward to talking to you this time next week.]]>156falsefullhttps://www.spreaker.com/episode/the-psychology-of-forex-trading--12239907In this video:
00:31              Concentrating on Psychology of trading
00:44              Understanding the whole mentality behind trading
01:29              Great trade on the Euro/New Zealand Dollar on the four hour charts
01:38                3.28% return on account risking just a quarter of 1% per trade
02:02              Been asked to be a guest speaker for the broker City Index – 27th of Nov
02:40              Japanese Yen has reached resistance against a lot of currencies
03:03              Looking for resistance levels to be broken before jumping into long positions
 
Hi everybody, Andrew Mitchem here and I am the Forex Trading Coach.
Today is Friday, the 16th of November.
Well we had another fantastic live trading webinar last night. And on that webinar I concentrated on the psychology of trading. Each time I have a webinar I specialized in a particular subject. I create a PDF File for my clients and then we go through a particular subject each time.
The Mentality behind Trading
Last night was psychology and understanding the whole mentality behind trading because obviously a lot of people want to become full time Forex traders. And like you're probably finding out it's not quiet as easy as it’s made out. But through my course I try to help my clients who want to become full time traders so we specialized in that subject last night.
During the webinar I had one client who’d made a ten to one trade. Well he still had a trade open. Another client had a five to one risk to reward trade. So for the client who had a ten to one – that means he’s risking let’s say half a percent of his account -half of 1% of his account on the trade. And he’s up 5% on the open trade – that’s a fantastic risk to reward.
On that webinar also I mentioned a great trade on the Euro/New Zealand Dollar on the four hour chart which made perfectly as well straight after.
3.28% Return on My Account this Week
For myself, I had a great week this week + 3.28% return on my account this week risking just a quarter of 1% per trade. So 3.28% trade return really pleased with that – if I only every week could be quite good as that! It would be fantastic! But starting a new week next week – let’s see what we can achieve there as well.
Also to let you know (this is for New Zealand based clients mostly) that on the 27th of November I’ve been asked to be a guest speaker for the broker City Index who are launching into New Zealand. So I’ve got about an hour to an hour and a half presentation I’m giving for them as their guest speaker on Tuesday, the 27th of November.
So if you’re around the Auckland region it’d be great to see you there.
The event will be recorded so hopefully I have that on my site if obviously you're overseas and can’t make the event.
Weakness in the Japanese Yen this Week
On to the currencies themselves, we saw a lot of weakness in the Japanese Yen this week. However I did note to my clients today, Friday, that the Japanese Yen has reached resistance against a lot of currencies. However, if we see that resistance broken heading into next week, expect the Yen to weaken further so could be really good tip there in looking for trades like the Australian Dollar, New Zealand Dollar, Euro, Franc all against the Japanese Yen looking for them to increase and the Japanese Yen to decrease. But look first of all for those resistance levels to be broken before jumping in to those long positions.
That’s all for now! Hope you’ve had a great week.
Look forward to talking to you this time next week.]]>http://theforextradingcoach.com/?p=1835Mon, 19 Nov 2012 19:18:00 +0000Andrew MitchemPodcast: In this video: 00:31              Concentrating on Psychology of trading 00:44              Understanding the whole mentality behind trading 01:29              Great trade on the Euro/New Zealand Dollar on the four hour charts...In this video:
00:31              Concentrating on Psychology of trading
00:44              Understanding the whole mentality behind trading
01:29              Great trade on the Euro/New Zealand Dollar on the four hour charts
01:38                3.28% return on account risking just a quarter of 1% per trade
02:02              Been asked to be a guest speaker for the broker City Index – 27th of Nov
02:40              Japanese Yen has reached resistance against a lot of currencies
03:03              Looking for resistance levels to be broken before jumping into long positions
 
Hi everybody, Andrew Mitchem here and I am the Forex Trading Coach.
Today is Friday, the 16th of November.
Well we had another fantastic live trading webinar last night. And on that webinar I concentrated on the psychology of trading. Each time I have a webinar I specialized in a particular subject. I create a PDF File for my clients and then we go through a particular subject each time.
The Mentality behind Trading
Last night was psychology and understanding the whole mentality behind trading because obviously a lot of people want to become full time Forex traders. And like you're probably finding out it's not quiet as easy as it’s made out. But through my course I try to help my clients who want to become full time traders so we specialized in that subject last night.
During the webinar I had one client who’d made a ten to one trade. Well he still had a trade open. Another client had a five to one risk to reward trade. So for the client who had a ten to one – that means he’s risking let’s say half a percent of his account -half of 1% of his account on the trade. And he’s up 5% on the open trade – that’s a fantastic risk to reward.
On that webinar also I mentioned a great trade on the Euro/New Zealand Dollar on the four hour chart which made perfectly as well straight after.
3.28% Return on My Account this Week
For myself, I had a great week this week + 3.28% return on my account this week risking just a quarter of 1% per trade. So 3.28% trade return really pleased with that – if I only every week could be quite good as that! It would be fantastic! But starting a new week next week – let’s see what we can achieve there as well.
Also to let you know (this is for New Zealand based clients mostly) that on the 27th of November I’ve been asked to be a guest speaker for the broker City Index who are launching into New Zealand. So I’ve got about an hour to an hour and a half presentation I’m giving for them as their guest speaker on Tuesday, the 27th of November.
So if you’re around the Auckland region it’d be great to see you there.
The event will be recorded so hopefully I have that on my site if obviously you're overseas and can’t make the event.
Weakness in the Japanese Yen this Week
On to the currencies themselves, we saw a lot of weakness in the Japanese Yen this week. However I did note to my clients today, Friday, that the Japanese Yen has reached resistance against a lot of currencies. However, if we see that resistance broken heading into next week, expect the Yen to weaken further so could be really good tip there in looking for trades like the Australian Dollar, New Zealand Dollar, Euro, Franc all against the Japanese Yen looking for them to increase and the Japanese Yen to decrease. But look first of all for those resistance levels to be broken before jumping in to those long positions.
That’s all for now! Hope you’ve had a great week.
Look forward to talking to you this time next week.]]>190falsefullhttps://www.spreaker.com/episode/new-trading-room-us-elections-and-unemployment-data--12239908In this video:
00:53              US Dollar strengthened against other currencies
01:06              New Zealand Dollar bounced off 0.83 levels against the US
01:51              Strength in the Japanese Yen
01:57              Short on the New Zealand Dollar Yen/ Euro Yen
02:02              Buy trade on the British Pound/Canadian Dollar and US/Canadian Dollar
02:21              Really good profitable week
02:46              Risky to take a longer term trade
03:02              Knowing how the market reacts to the US election result
Hi everybody Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 9th of November.
I’m in the new property and we’ve done the box shifting and moved home, so here we are.  We've got everything set up all the computer screens set up.
Today is a lovely day. I've got the pool behind me here that’s where I’m going as soon as I finish this video!
Well, we’ve had the US elections this week and obviously Obama got back in. To start with that weakened the US dollar. It then turned around and strengthen against most of the other currencies towards the later part of the week.
I wanted to mention about the New Zealand Dollar.  The New Zealand Dollar bounced off the eighty three level against the US – 0.8300. There was a classic reversal signal that I teach to my clients. And it was interesting that the New Zealand Dollar started dropping, but several hours later there was some really bad unemployment data that came out.
The New Zealand unemployment rate went up to one of the highest levels in quite a number of years.
But what I wanted to show you is that that information, that news event, that fundamental event was already factored in into the price and using the technical analysis that I teach to my client every day – That information was already faceted in – And I could see that the New Zealand Dollar was going to drop off the 0.8300 level several hours prior to that bad news announcement as being released.
Japanese Yen Strengthens
Elsewhere we’ve had a lot of strength in the Japanese Yen this week and I’m actually short on the couple of currencies. I’m short on the New Zealand Dollar/Yen and I’m short on the Euro/Yen.
Elsewhere I’ve got a buy trade so going on the British Pound/Canadian Dollar and also the US/Canadian Dollar.
Also interesting this week, right now I’m up about half a percent for the week.
But the point I also wanted to make here was for three out of the five days of this week, I’ve had no suggestions on my daily trade suggestions but I still had a really good profitable week  and still have four trades in right now.
You don’t have to trade all the time!
So what I wanted to actually let you know is that you don’t have to trade all the time to make money. Now obviously I’ve taken some shorter timeframe trades there as well. But on the longer daily timeframe, due to the US election, I couldn’t see anything on the Tuesday and Wednesday.
And with the news announcements there off that election, to me it was actually quite risky to take a longer term trade.
It was fine on the shorter term trade where I could be in and out of the trade within a number of minutes or hours.
But where I’m looking at holding the trade open for – maybe a day or two, it was quite risky not knowing the result of the US election and not knowing how the market may react to that news.
Five trades on the daily chart
And today again I’ve taken no trades: Today being Friday.
Yesterday I took five trades on the daily chart.
So regardless of what you think, it is important to realize you don’t need to be trading all the time to make money.
If you trade too much, you either:
1. Going to be looking at the charts far too often and
2.]]>http://theforextradingcoach.com/?p=1814Mon, 12 Nov 2012 19:24:40 +0000Andrew MitchemPodcast: In this video: 00:53              US Dollar strengthened against other currencies 01:06              New Zealand Dollar bounced off 0.83 levels against the US 01:51              Strength in the Japanese Yen 01:57              Short on the New...In this video:
00:53              US Dollar strengthened against other currencies
01:06              New Zealand Dollar bounced off 0.83 levels against the US
01:51              Strength in the Japanese Yen
01:57              Short on the New Zealand Dollar Yen/ Euro Yen
02:02              Buy trade on the British Pound/Canadian Dollar and US/Canadian Dollar
02:21              Really good profitable week
02:46              Risky to take a longer term trade
03:02              Knowing how the market reacts to the US election result
Hi everybody Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 9th of November.
I’m in the new property and we’ve done the box shifting and moved home, so here we are.  We've got everything set up all the computer screens set up.
Today is a lovely day. I've got the pool behind me here that’s where I’m going as soon as I finish this video!
Well, we’ve had the US elections this week and obviously Obama got back in. To start with that weakened the US dollar. It then turned around and strengthen against most of the other currencies towards the later part of the week.
I wanted to mention about the New Zealand Dollar.  The New Zealand Dollar bounced off the eighty three level against the US – 0.8300. There was a classic reversal signal that I teach to my clients. And it was interesting that the New Zealand Dollar started dropping, but several hours later there was some really bad unemployment data that came out.
The New Zealand unemployment rate went up to one of the highest levels in quite a number of years.
But what I wanted to show you is that that information, that news event, that fundamental event was already factored in into the price and using the technical analysis that I teach to my client every day – That information was already faceted in – And I could see that the New Zealand Dollar was going to drop off the 0.8300 level several hours prior to that bad news announcement as being released.
Japanese Yen Strengthens
Elsewhere we’ve had a lot of strength in the Japanese Yen this week and I’m actually short on the couple of currencies. I’m short on the New Zealand Dollar/Yen and I’m short on the Euro/Yen.
Elsewhere I’ve got a buy trade so going on the British Pound/Canadian Dollar and also the US/Canadian Dollar.
Also interesting this week, right now I’m up about half a percent for the week.
But the point I also wanted to make here was for three out of the five days of this week, I’ve had no suggestions on my daily trade suggestions but I still had a really good profitable week  and still have four trades in right now.
You don’t have to trade all the time!
So what I wanted to actually let you know is that you don’t have to trade all the time to make money. Now obviously I’ve taken some shorter timeframe trades there as well. But on the longer daily timeframe, due to the US election, I couldn’t see anything on the Tuesday and Wednesday.
And with the news announcements there off that election, to me it was actually quite risky to take a longer term trade.
It was fine on the shorter term trade where I could be in and out of the trade within a number of minutes or hours.
But where I’m looking at holding the trade open for – maybe a day or two, it was quite risky not knowing the result of the US election and not knowing how the market may react to that news.
Five trades on the daily chart
And today again I’ve taken no trades: Today being Friday.
Yesterday I took five trades on the daily chart.
So regardless of what you think, it is important to realize you don’t need to be trading all the time to make money.
If you trade too much, you either:
1. Going to be looking at the charts far too often and
2.]]>209falsefullhttps://www.spreaker.com/episode/euro-weakness-and-gbp-strength--12239912
In this video:
00:46 Euro continues to fall this week
01:04 Lot of strength on the British Pound
01:23 Hitting the full profit perfectly
01:44 Trading stong and weak currencies
02:12 Looking for good opportunities
03:03 Trading the Non Farm Payroll announcement
Hi everybody Andrew Mitchem here the Forex Trading Coach.
Welcome along! Today is Friday, the 26th of October.
It’s been a really exciting week for me personally.
As I mentioned last week, I’m moving home. And so there won’t be another video this time next week because it’s my moving day. So I’ll be lifting boxes and getting fit that way.
So the next video will be in two weeks from today.
Euro Weakness Set To Continue
Just a recap of this week, well we’ve seen the Euro continue to fall this week and I’ve been short on a lot of the Euro pairs throughout the week, and for what I can see right now (and I’m in the Asian session right now on Friday) I can see that the Euro weakness looks like it’s likely to continue.
The British Pound Gets Stronger
On the opposite side of the scale, we see the British Pound has had a lot of strength this week. And I’ve been trading the British Pound long. Yesterday I suggested the British Pound/US Dollar on the daily chart long to my clients.
It didn’t retrace to my exact entry level but for those people that entered at the market it went up and hit the full profit perfectly – made about 75 pips on that trade.
That was a really nice trade!
And likewise I can see the strength in the British Pound continuing well into next week at this stage.
The Yen Weak Too
The Japanese Yen pairs have shown a lot of weakness against most of the Yen pairs. I can see weakness continuing there.
The Importance of Trading Strengths and Weaknesses
Elsewhere, I’ve been looking at emphasizing the importance of trading – the strengths and weaknesses. I will look in for strong currencies like the British Pound.
Looking at weak currencies like the Euro.
I’m putting the two together so in that example we’ll be taking short positions on the Euro/British Pound.
But I’ll be doing that with all currencies and really emphasizing to my clients the importance of doing that.
Especially in shorter time frames
And that really helps us with all timeframes especially if we get into the shorter timeframe charts looking for good opportunities throughout that day.
Moving on to the next week:
In Europe and also in England there’s a time shift next week into the end of daylight savings and so into the Northern hemisphere winter time – that would affect you if your trading in Europe and if you’re trading breakouts of the European session.
Non-Farm Payroll Warning
And also the end of next week, so this time next week, next Friday – Saturday morning if you’re in Australia or New Zealand, Friday morning if you’re in the States, it’s the monthly Non-Farm Payroll announcement. So that’s one thing to just be careful of there because that news announcement does generate course a lot of volatility.
So daily charts are ok to keep in the market at that time, but shorter timeframe trades I’d definitely be looking at exiting the market prior to that Non-Farm Payroll announcement (which is always at 8:30am Eastern Standard Time in New York).
So that’s all for now!
Great talking to you and like I said I won’t be here this time next week. I’ll be shifting boxes into my nice new house but I’ll be back the following week.
I look forward to talking to you then.]]>http://theforextradingcoach.com/?p=1798Sun, 28 Oct 2012 20:37:46 +0000Andrew MitchemPodcast: In this video: 00:46 Euro continues to fall this week 01:04 Lot of strength on the British Pound 01:23 Hitting the full profit perfectly 01:44 Trading stong and weak currencies 02:12 Looking for good opportunities 03:03 Trading the Non Farm...
In this video:
00:46 Euro continues to fall this week
01:04 Lot of strength on the British Pound
01:23 Hitting the full profit perfectly
01:44 Trading stong and weak currencies
02:12 Looking for good opportunities
03:03 Trading the Non Farm Payroll announcement
Hi everybody Andrew Mitchem here the Forex Trading Coach.
Welcome along! Today is Friday, the 26th of October.
It’s been a really exciting week for me personally.
As I mentioned last week, I’m moving home. And so there won’t be another video this time next week because it’s my moving day. So I’ll be lifting boxes and getting fit that way.
So the next video will be in two weeks from today.
Euro Weakness Set To Continue
Just a recap of this week, well we’ve seen the Euro continue to fall this week and I’ve been short on a lot of the Euro pairs throughout the week, and for what I can see right now (and I’m in the Asian session right now on Friday) I can see that the Euro weakness looks like it’s likely to continue.
The British Pound Gets Stronger
On the opposite side of the scale, we see the British Pound has had a lot of strength this week. And I’ve been trading the British Pound long. Yesterday I suggested the British Pound/US Dollar on the daily chart long to my clients.
It didn’t retrace to my exact entry level but for those people that entered at the market it went up and hit the full profit perfectly – made about 75 pips on that trade.
That was a really nice trade!
And likewise I can see the strength in the British Pound continuing well into next week at this stage.
The Yen Weak Too
The Japanese Yen pairs have shown a lot of weakness against most of the Yen pairs. I can see weakness continuing there.
The Importance of Trading Strengths and Weaknesses
Elsewhere, I’ve been looking at emphasizing the importance of trading – the strengths and weaknesses. I will look in for strong currencies like the British Pound.
Looking at weak currencies like the Euro.
I’m putting the two together so in that example we’ll be taking short positions on the Euro/British Pound.
But I’ll be doing that with all currencies and really emphasizing to my clients the importance of doing that.
Especially in shorter time frames
And that really helps us with all timeframes especially if we get into the shorter timeframe charts looking for good opportunities throughout that day.
Moving on to the next week:
In Europe and also in England there’s a time shift next week into the end of daylight savings and so into the Northern hemisphere winter time – that would affect you if your trading in Europe and if you’re trading breakouts of the European session.
Non-Farm Payroll Warning
And also the end of next week, so this time next week, next Friday – Saturday morning if you’re in Australia or New Zealand, Friday morning if you’re in the States, it’s the monthly Non-Farm Payroll announcement. So that’s one thing to just be careful of there because that news announcement does generate course a lot of volatility.
So daily charts are ok to keep in the market at that time, but shorter timeframe trades I’d definitely be looking at exiting the market prior to that Non-Farm Payroll announcement (which is always at 8:30am Eastern Standard Time in New York).
So that’s all for now!
Great talking to you and like I said I won’t be here this time next week. I’ll be shifting boxes into my nice new house but I’ll be back the following week.
I look forward to talking to you then.]]>204falsefullhttps://www.spreaker.com/episode/daily-charts-and-4-hourly-charts--12239913In this video:
00:50              Making money from the Forex market
01:04              Trading on the four hourly charts
01:32              The beauty of my system
02:10              The importance of looking at strong and weak currencies
02:40              Strength in the US dollar
02:53              Looking for predominantly short position
03:32              Increases the probability of your trade working
Hi everybody, Andrew Mitchem here the Forex Trading Coach.
Today is Friday, the 19th of October.
Well I’ve got an eye infection today so I’ve got the perfect face for radio and definitely not videos so sorry about that.
Well, it’s been a really busy week for me. I’ve had lots of things going on personally. I’ve had my wife who’s been in hospital with surgery and been playing Mum and Dad looking after five kids this week. On top of that I bought a house and we move in onlyy a few weeks time.
Why am I telling you this?
It’s to let you know that with trading, you don’t have to be watching the charts all day long in order to trade successfully and make money from the Forex market.
Like I mentioned, I’ve had a really, really busy week. It’s just not stopped, but I’ve been trading on the daily charts and they take me about 10-15 minutes once per day.
I’ve been trading on the four hourly charts when I can and so what that means is I know that I don’t need to look at my charts in between every four hour candle. So I know that once I’ve taken a trade on a four hour chart, I’ve got another four hours to go  and do whatever it is I need to do in a day before any possible new charts set up if I’m trading four hourly charts.
Of course if you are trading the hourly charts you know that you wouldn’t need to go and look your screen and your charts until the next hour is complete.
And that’s the beauty of my system.
There are so many systems out there that rely on things crossing over and a signal could occur anytime in the day or night. That is not the case of my system. It makes it very easy to plan your day around your trading.
And you can trade as much or as little as you like.
I have some clients that just trade the weekly charts so once a week on a Monday at the beginning of the week and then just the daily charts.
So all up there’ll be trading no more than let’s say one hour per week but they're still doing extremely well.
The other thing to mention that we talked about on yesterday’s webinar with my clients is I emphasized the importance of looking at strong and weak currencies and looking at the two together as a pair.
So what I mean by that is,  for today I’ve been looking at weakness in the British Pound and I’ve seen weakness in the British Pound based on the daily charts against several other currencies.
For example, I might be looking at weakness in the British pound against the US, weakness against the Yen, weakness against the Euro. And likewise I may be seeing strength in the US and I’m looking at strength in the US let's say against the Euro, against the AUD, against the Kiwi. And so I’m looking at the weakness in the British pound, the strength in the US Dollar – putting the two together and therefore I'm looking for predominantly short positions and short signals on the British Pound/US Dollar.
So that was covered quite a lot in my last webinar and it’s something that I mentioned everyday to my clients as part of my daily trade suggestions.
I list the two or three or four – whatever I might see of the strongest currencies for the day and the weakest currencies for the day.
What that does is that allows my clients to go and look at their charts and play the strongest against the weakness when you see a suitable signal.
And of course what that means is we’re then trading with the overall stro...]]>http://theforextradingcoach.com/?p=1769Mon, 22 Oct 2012 03:56:59 +0000Andrew MitchemPodcast: In this video: 00:50              Making money from the Forex market 01:04              Trading on the four hourly charts 01:32              The beauty of my system 02:10              The importance of looking at strong and weak currencies...In this video:
00:50              Making money from the Forex market
01:04              Trading on the four hourly charts
01:32              The beauty of my system
02:10              The importance of looking at strong and weak currencies
02:40              Strength in the US dollar
02:53              Looking for predominantly short position
03:32              Increases the probability of your trade working
Hi everybody, Andrew Mitchem here the Forex Trading Coach.
Today is Friday, the 19th of October.
Well I’ve got an eye infection today so I’ve got the perfect face for radio and definitely not videos so sorry about that.
Well, it’s been a really busy week for me. I’ve had lots of things going on personally. I’ve had my wife who’s been in hospital with surgery and been playing Mum and Dad looking after five kids this week. On top of that I bought a house and we move in onlyy a few weeks time.
Why am I telling you this?
It’s to let you know that with trading, you don’t have to be watching the charts all day long in order to trade successfully and make money from the Forex market.
Like I mentioned, I’ve had a really, really busy week. It’s just not stopped, but I’ve been trading on the daily charts and they take me about 10-15 minutes once per day.
I’ve been trading on the four hourly charts when I can and so what that means is I know that I don’t need to look at my charts in between every four hour candle. So I know that once I’ve taken a trade on a four hour chart, I’ve got another four hours to go  and do whatever it is I need to do in a day before any possible new charts set up if I’m trading four hourly charts.
Of course if you are trading the hourly charts you know that you wouldn’t need to go and look your screen and your charts until the next hour is complete.
And that’s the beauty of my system.
There are so many systems out there that rely on things crossing over and a signal could occur anytime in the day or night. That is not the case of my system. It makes it very easy to plan your day around your trading.
And you can trade as much or as little as you like.
I have some clients that just trade the weekly charts so once a week on a Monday at the beginning of the week and then just the daily charts.
So all up there’ll be trading no more than let’s say one hour per week but they're still doing extremely well.
The other thing to mention that we talked about on yesterday’s webinar with my clients is I emphasized the importance of looking at strong and weak currencies and looking at the two together as a pair.
So what I mean by that is,  for today I’ve been looking at weakness in the British Pound and I’ve seen weakness in the British Pound based on the daily charts against several other currencies.
For example, I might be looking at weakness in the British pound against the US, weakness against the Yen, weakness against the Euro. And likewise I may be seeing strength in the US and I’m looking at strength in the US let's say against the Euro, against the AUD, against the Kiwi. And so I’m looking at the weakness in the British pound, the strength in the US Dollar – putting the two together and therefore I'm looking for predominantly short positions and short signals on the British Pound/US Dollar.
So that was covered quite a lot in my last webinar and it’s something that I mentioned everyday to my clients as part of my daily trade suggestions.
I list the two or three or four – whatever I might see of the strongest currencies for the day and the weakest currencies for the day.
What that does is that allows my clients to go and look at their charts and play the strongest against the weakness when you see a suitable signal.
And of course what that means is we’re then trading with the overall stro...]]>224falsefullhttps://www.spreaker.com/episode/forex-peace-army-campaign-and-low-risk-per-trade--12239914
In this video:
00:18 Up 1.3% trade at one stage
00:42 Running Forex Peace Army Campaign
01:04 Chart Action
01:43 Tips for the week
02:16 Making a percentage return on account
02:54 The importance of starting small
Hi everybody, Andew Mitchem here the Forex Trading Coach.
Today is Friday, the 12th of October. We’re already halfway through another month.
Well, it’s been an interesting week for me. I was up 1.3% at one stage this week – ended up with a new 0.3% gain for the week. That’s using a quarter of 1% risk on all of my trades. So, not as good as it was. I did have a few trades go back against me on Thursday into Friday, my time which is slightly spoilt things but then again that’s trading.
Overall – still a positive week.
Elsewhere I’ve had a lot of new clients joined through Forex Peace Army campaign that we’ve had running. A really good special promotion, so for those of you that have just joined, welcome along – you're going to get some great information from my course.
For those of you who have missed, well the price is back to normal price, and is still great value anyway.
Onto the charts, well the Euro this week is retraced slightly. To me, it looks like it’s still heading upwards. I can see some good strength in it.
Elsewhere, I can see the New Zealand Dollar/US Dollar looks to me like its weakening. It’s coming down quite nicely. In fact, when we take the Euro/New Zealand Dollar pair, I’ve actually go longer term buy on that.
I took a buy based on the weekly charts back last week. And that’s retraced nicely. Back to my entry, now that’s starting to get into good profit and it looks like it’s heading up stronger as we head into next week.
Elsewhere, I can see some weakness still in the Australian Dollar, all-round especially against the US Dollar but all-round the Australian Dollar looks weak to me.
Tip for the week: Interesting there’s lot of people approach me with this offer. And a question that I get asked quite often is: How much can I make? What account size do I need?
And really it’s very hard for me to answer that because a lot of it does depend on you as a trader. But what I do like to say to people is start small. It doesn’t matter whether you’ve been trading for a while or with your brand new trading, just start small. Start with a small account. When you’re ready to go live, start with the small account and look to make a percentage return on that account.
Forget about making Dollars, or Pounds, or Euros whatever it is your account is denominated in. Forget the money for now. Look to increase your account slowly with a percentage gain because if you have let’s say a ten thousand dollar account and you can make let’s say for arguments sake, say 50% return in the year – If you can do that on a ten thousand dollar account then why can’t you do that on a twenty thousand, or a fifty thousand, or a hundred thousand dollar Forex account?
You know it’s exactly the same trading.
The only two things that change is your mind and your emotions but that’s why I say to people start small. It’s really important to do that. Don’t go in with a big account; blow it, lose your confidence.
So start a really small, make a percentage return on that account.
And think it this way, look, if you can make 5% in a year which you know, you should be easily able to do that. But let’s say you make only 5%, well my bank doesn’t even pay me that in a year now so think about it that way. Maybe you make 5% in a month and then think: Wow! Well my banks not paying me that in a year.
So look at percentages, forget the amount of money you make to start with when you begin with your trading.
So that’s all for now!
Hope you enjoyed that lesson. And I look forward to talking to you this time next week...]]>http://theforextradingcoach.com/?p=1744Sun, 14 Oct 2012 19:20:42 +0000Andrew MitchemPodcast: In this video: 00:18 Up 1.3% trade at one stage 00:42 Running Forex Peace Army Campaign 01:04 Chart Action 01:43 Tips for the week 02:16 Making a percentage return on account 02:54 The importance of starting small Hi everybody, Andew Mitchem...
In this video:
00:18 Up 1.3% trade at one stage
00:42 Running Forex Peace Army Campaign
01:04 Chart Action
01:43 Tips for the week
02:16 Making a percentage return on account
02:54 The importance of starting small
Hi everybody, Andew Mitchem here the Forex Trading Coach.
Today is Friday, the 12th of October. We’re already halfway through another month.
Well, it’s been an interesting week for me. I was up 1.3% at one stage this week – ended up with a new 0.3% gain for the week. That’s using a quarter of 1% risk on all of my trades. So, not as good as it was. I did have a few trades go back against me on Thursday into Friday, my time which is slightly spoilt things but then again that’s trading.
Overall – still a positive week.
Elsewhere I’ve had a lot of new clients joined through Forex Peace Army campaign that we’ve had running. A really good special promotion, so for those of you that have just joined, welcome along – you're going to get some great information from my course.
For those of you who have missed, well the price is back to normal price, and is still great value anyway.
Onto the charts, well the Euro this week is retraced slightly. To me, it looks like it’s still heading upwards. I can see some good strength in it.
Elsewhere, I can see the New Zealand Dollar/US Dollar looks to me like its weakening. It’s coming down quite nicely. In fact, when we take the Euro/New Zealand Dollar pair, I’ve actually go longer term buy on that.
I took a buy based on the weekly charts back last week. And that’s retraced nicely. Back to my entry, now that’s starting to get into good profit and it looks like it’s heading up stronger as we head into next week.
Elsewhere, I can see some weakness still in the Australian Dollar, all-round especially against the US Dollar but all-round the Australian Dollar looks weak to me.
Tip for the week: Interesting there’s lot of people approach me with this offer. And a question that I get asked quite often is: How much can I make? What account size do I need?
And really it’s very hard for me to answer that because a lot of it does depend on you as a trader. But what I do like to say to people is start small. It doesn’t matter whether you’ve been trading for a while or with your brand new trading, just start small. Start with a small account. When you’re ready to go live, start with the small account and look to make a percentage return on that account.
Forget about making Dollars, or Pounds, or Euros whatever it is your account is denominated in. Forget the money for now. Look to increase your account slowly with a percentage gain because if you have let’s say a ten thousand dollar account and you can make let’s say for arguments sake, say 50% return in the year – If you can do that on a ten thousand dollar account then why can’t you do that on a twenty thousand, or a fifty thousand, or a hundred thousand dollar Forex account?
You know it’s exactly the same trading.
The only two things that change is your mind and your emotions but that’s why I say to people start small. It’s really important to do that. Don’t go in with a big account; blow it, lose your confidence.
So start a really small, make a percentage return on that account.
And think it this way, look, if you can make 5% in a year which you know, you should be easily able to do that. But let’s say you make only 5%, well my bank doesn’t even pay me that in a year now so think about it that way. Maybe you make 5% in a month and then think: Wow! Well my banks not paying me that in a year.
So look at percentages, forget the amount of money you make to start with when you begin with your trading.
So that’s all for now!
Hope you enjoyed that lesson. And I look forward to talking to you this time next week...]]>219falsefullhttps://www.spreaker.com/episode/us-non-farm-payrolls-later-today-likely-to-be-below-expecation--12239917In this video:
00:21 A really good week of trading
00:40 One trade open on the Euro/US Dollar
01:36 Getting big movement and a lot of volatility
01:47 Silver trades looking strong on the longer term charts
02:07 Fundamental basics of trading
02:35 Picking-up high probability trades
03:25 Nice engulfing candle formation
Hi everybody, Andrew Mitchem here the Forex Trading Coach.
Welcome along!
Today is Friday, the 5th of October.
I’m back home after a week away. I had a fantastic week away and back in the office again this week.
Well, I had a really good week with my trades this week. I’m up +1.5% and thats with risking only a quarter of 1%. So, 0.25% risk per trade. A 1.5% gain for the week so far.
I’m not expecting probably many more trades for the day. I do have one trade open on the Euro/US Dollar. I’m long on that at the moment, but we have the US non-farm payroll.
The monthly unemployment data coming out later tonight my time, Friday morning New York time.
Judging by what I can see on the charts, at the moment obviously the Euro has been in a lot of strength. And at this stage, I see no reason for that not to continue. The US dollar is looking weak and so my feeling at this stage would be that the non-farm payroll data is more than likely going to come in at expected or probably below expectation.
That would be my feeling right now from looking at the charts.
If I have any shorter timeframe chart trades open at before the news, I will be closing those. My daily trade: I'll probably be keeping them open but monitoring them just before that announcement.
It’s pretty much the only major news announcement that I'm wary of because you can get such big movement and a lot of volatility.
With the rest of my trades, my silver is still open and it’s just over the $35 at this stage. And I see no reason for that not to continue. It’s looking really strong on the longer term charts, but a long way still to go on that.
With my clients, we’ve had a really good webinar. Last night we had a 2 hour live trading room webinar. Well just over 2 hours. We took some really good trades in there.
I also concentrated on going back to basics and it’s really important for us as traders to remember the fundamental basics of trading. It helps to keep our mindset straight. It helps us with our emotions and that helps us to select the good trades and to eliminate those sorts of 50-50 trades that we really don’t need to be taking especially in this current environment.
It is a really difficult trading environment right now so we need to be really selective and get back to basics and pick out the high probability trades.
Looking ahead into next week!
On Monday, there is Japanese, a US, and a Canadian Holiday. All on Monday so, I’m not anticipating a lot of price action on Monday. Probably going to be a very quiet day!
And then, later of the week on Thursday, there’s Australian news out. Looking at the Australian dollar threat the whole of this week, it’s just crashed. The Aus/US Dollar has jus fallen away and that’s really come about as a result of the cash rate dropping. That drop a quarter of 1% on Tuesday.
They’ve had trade balance figures that have been really bad and next week we’ve got employment data. So looking at the chart I'd anticipate that the Australian Dollar is more than likely going to continue to fall at this stage.
This time last week, last Friday we did have a nice engulfing candle formation on the daily chart which was suggesting the Australian Dollar was looking like it was going to fall and we did see that fall out through into this week.
Looking at right now, we could see that Australian Dollar continue to fall into next week.
So that’s all for now!
Hope you’ve enjoyed the session and I look forwar...]]>http://theforextradingcoach.com/?p=1682Sun, 07 Oct 2012 20:05:55 +0000Andrew MitchemPodcast: In this video: 00:21 A really good week of trading 00:40 One trade open on the Euro/US Dollar 01:36 Getting big movement and a lot of volatility 01:47 Silver trades looking strong on the longer term charts 02:07 Fundamental basics of trading...In this video:
00:21 A really good week of trading
00:40 One trade open on the Euro/US Dollar
01:36 Getting big movement and a lot of volatility
01:47 Silver trades looking strong on the longer term charts
02:07 Fundamental basics of trading
02:35 Picking-up high probability trades
03:25 Nice engulfing candle formation
Hi everybody, Andrew Mitchem here the Forex Trading Coach.
Welcome along!
Today is Friday, the 5th of October.
I’m back home after a week away. I had a fantastic week away and back in the office again this week.
Well, I had a really good week with my trades this week. I’m up +1.5% and thats with risking only a quarter of 1%. So, 0.25% risk per trade. A 1.5% gain for the week so far.
I’m not expecting probably many more trades for the day. I do have one trade open on the Euro/US Dollar. I’m long on that at the moment, but we have the US non-farm payroll.
The monthly unemployment data coming out later tonight my time, Friday morning New York time.
Judging by what I can see on the charts, at the moment obviously the Euro has been in a lot of strength. And at this stage, I see no reason for that not to continue. The US dollar is looking weak and so my feeling at this stage would be that the non-farm payroll data is more than likely going to come in at expected or probably below expectation.
That would be my feeling right now from looking at the charts.
If I have any shorter timeframe chart trades open at before the news, I will be closing those. My daily trade: I'll probably be keeping them open but monitoring them just before that announcement.
It’s pretty much the only major news announcement that I'm wary of because you can get such big movement and a lot of volatility.
With the rest of my trades, my silver is still open and it’s just over the $35 at this stage. And I see no reason for that not to continue. It’s looking really strong on the longer term charts, but a long way still to go on that.
With my clients, we’ve had a really good webinar. Last night we had a 2 hour live trading room webinar. Well just over 2 hours. We took some really good trades in there.
I also concentrated on going back to basics and it’s really important for us as traders to remember the fundamental basics of trading. It helps to keep our mindset straight. It helps us with our emotions and that helps us to select the good trades and to eliminate those sorts of 50-50 trades that we really don’t need to be taking especially in this current environment.
It is a really difficult trading environment right now so we need to be really selective and get back to basics and pick out the high probability trades.
Looking ahead into next week!
On Monday, there is Japanese, a US, and a Canadian Holiday. All on Monday so, I’m not anticipating a lot of price action on Monday. Probably going to be a very quiet day!
And then, later of the week on Thursday, there’s Australian news out. Looking at the Australian dollar threat the whole of this week, it’s just crashed. The Aus/US Dollar has jus fallen away and that’s really come about as a result of the cash rate dropping. That drop a quarter of 1% on Tuesday.
They’ve had trade balance figures that have been really bad and next week we’ve got employment data. So looking at the chart I'd anticipate that the Australian Dollar is more than likely going to continue to fall at this stage.
This time last week, last Friday we did have a nice engulfing candle formation on the daily chart which was suggesting the Australian Dollar was looking like it was going to fall and we did see that fall out through into this week.
Looking at right now, we could see that Australian Dollar continue to fall into next week.
So that’s all for now!
Hope you’ve enjoyed the session and I look forwar...]]>234falsefullhttps://www.spreaker.com/episode/28th-september-the-forex-trading-coach-weekly-update--12239915
In this video:
00:12 The beauty of trading
00:39 The benefits of trading
00:51 Silver trade continues to climb
Hi everybody Andrew Mitchem here The Forex Trading Coach.
Today is Friday, the 28th of September.
Well, I’m here in Waiheke Island, the beautiful Hauraki Coast off Auckland in New Zealand – and that’s the beauty of trading.
I’ve got my laptop here and I’ve got my iPhone for my hot spot and I can trade from here. And it’s another reason why I love Forex Trading as it allows you to be on locations like this and trade as you were from your home or your office.
It has been a bit of a tricky week this week. We've had a few losing trades and I believe this week were going to end up with a loss overall, but again that’s part of trading.
It’s just something as traders we accept.
The benefits of being able to trade from here and unfortunately from time-to-time we have losses throughout a week.
But that’s the way trading goes.
With silver, we're up to about thirty four dollars and fifty cents ($34.50) on the silver so that continues to climb nicely.
It looks like heading into next week there's going to be another increase in the value of Silver.
So that’s all for now!
I’m off to enjoy the beach.
And I look forward to talking to you this time next week.]]>http://theforextradingcoach.com/?p=1598Mon, 01 Oct 2012 04:27:33 +0000Andrew MitchemPodcast: In this video: 00:12 The beauty of trading 00:39 The benefits of trading 00:51 Silver trade continues to climb Hi everybody Andrew Mitchem here The Forex Trading Coach. Today is Friday, the 28th of September. Well, I’m here in Waiheke...
In this video:
00:12 The beauty of trading
00:39 The benefits of trading
00:51 Silver trade continues to climb
Hi everybody Andrew Mitchem here The Forex Trading Coach.
Today is Friday, the 28th of September.
Well, I’m here in Waiheke Island, the beautiful Hauraki Coast off Auckland in New Zealand – and that’s the beauty of trading.
I’ve got my laptop here and I’ve got my iPhone for my hot spot and I can trade from here. And it’s another reason why I love Forex Trading as it allows you to be on locations like this and trade as you were from your home or your office.
It has been a bit of a tricky week this week. We've had a few losing trades and I believe this week were going to end up with a loss overall, but again that’s part of trading.
It’s just something as traders we accept.
The benefits of being able to trade from here and unfortunately from time-to-time we have losses throughout a week.
But that’s the way trading goes.
With silver, we're up to about thirty four dollars and fifty cents ($34.50) on the silver so that continues to climb nicely.
It looks like heading into next week there's going to be another increase in the value of Silver.
So that’s all for now!
I’m off to enjoy the beach.
And I look forward to talking to you this time next week.]]>77falsefullhttps://www.spreaker.com/episode/21st-september-the-forex-trading-coach-weekly-update--12239916
In this video:
00:48 This week a 2.6% return
01:34 Two hour live trading room webinar
01:47 Taking profitable trades during live sessions
01:54 Silver trades continue to climb up
02:18 Looking at a charting platform
02:28 Importance of Eastern Standard Time
03:30 Charting package for a successful Forex Trader
03:42 More useful Forex Trading Tips
Hi it’s Andrew Mitchem here, The Forex Trading Coach.
Today is Friday, the 21st of September.
It’s been a really good week for me personally on my own trades. I’m up 2.6% for the week and I still have three open trades. But 2.6% for the week represents a very nice return. With that result I’m risking half of one percent – 0.5 of 1% risk per trade on each of my trades.
When I trade on the managed accounts which I have a company called Wealth with Forex, I’m only trading at quarter of 1% and so naturally half of the 2.6 means that I’ve made 1.3% return for those individual investors that I managed funds for.
And on top of that we’ve had a really good webinar this time yesterday. I had clients from all around the world for just over a two hour live trading room webinar.
And I hold those every two weeks for clients.
We look at taking live trades as and when they happen and we had some people taking some really good trades, really good profitable trades during that live session.
All of those sessions are recorded, so my clients can go and watch them whenever they wish to.
The Silver trade, that as you I've been in for number of weeks now, that’s up at around $34.70, so that continues to climb.
That’s looking really good!
And another point I wanted to make is I always get asked about what chart/time you should use as a Forex Trader.
Now, by that I mean what time of the day do the charts start.
I am firm believer that you need to be looking at a charting platform that starts the week at 5pm – Eastern Standard Time. That’s 5pm in New York.
So that’s really important because what this means is – that’s the “Unofficial” correct start of time day.
And so, I use a broker in Australia called Pepperstone. I also used another one called Go Markets. Both of those have a 5pm New York Eastern Standard Time – start of day all year round.
What does that mean?
Well it means that you’re trading where the big banks and institutions trade. It’s fine on an hourly chart but if you don’t have a 5pm start of day, your daily charts and your four hour charts can look quite different.
Many brokers for whatever reason (and I do not know why) sometimes use a six day week and they have a Sunday candle that lasts somewhere between two and four hours.
Now for traders like myself who trade off the daily charts, this is completely incorrect as it distorts the technical levels on our charts.
So just to recap, use a broker that uses 5pm Eastern Standard start of day time and it will definitely help give you the correct charting package that you need to be a good successful Forex Trader.
So I hope that helps and I look forward to talking to you this time next week, with some more Forex results and also some very useful Forex Trading tips for you.
That’s all for now!
See you soon…]]>http://theforextradingcoach.com/?p=1482Sun, 23 Sep 2012 08:47:53 +0000Andrew MitchemPodcast: In this video: 00:48 This week a 2.6% return 01:34 Two hour live trading room webinar 01:47 Taking profitable trades during live sessions 01:54 Silver trades continue to climb up 02:18 Looking at a charting platform 02:28 Importance of...
In this video:
00:48 This week a 2.6% return
01:34 Two hour live trading room webinar
01:47 Taking profitable trades during live sessions
01:54 Silver trades continue to climb up
02:18 Looking at a charting platform
02:28 Importance of Eastern Standard Time
03:30 Charting package for a successful Forex Trader
03:42 More useful Forex Trading Tips
Hi it’s Andrew Mitchem here, The Forex Trading Coach.
Today is Friday, the 21st of September.
It’s been a really good week for me personally on my own trades. I’m up 2.6% for the week and I still have three open trades. But 2.6% for the week represents a very nice return. With that result I’m risking half of one percent – 0.5 of 1% risk per trade on each of my trades.
When I trade on the managed accounts which I have a company called Wealth with Forex, I’m only trading at quarter of 1% and so naturally half of the 2.6 means that I’ve made 1.3% return for those individual investors that I managed funds for.
And on top of that we’ve had a really good webinar this time yesterday. I had clients from all around the world for just over a two hour live trading room webinar.
And I hold those every two weeks for clients.
We look at taking live trades as and when they happen and we had some people taking some really good trades, really good profitable trades during that live session.
All of those sessions are recorded, so my clients can go and watch them whenever they wish to.
The Silver trade, that as you I've been in for number of weeks now, that’s up at around $34.70, so that continues to climb.
That’s looking really good!
And another point I wanted to make is I always get asked about what chart/time you should use as a Forex Trader.
Now, by that I mean what time of the day do the charts start.
I am firm believer that you need to be looking at a charting platform that starts the week at 5pm – Eastern Standard Time. That’s 5pm in New York.
So that’s really important because what this means is – that’s the “Unofficial” correct start of time day.
And so, I use a broker in Australia called Pepperstone. I also used another one called Go Markets. Both of those have a 5pm New York Eastern Standard Time – start of day all year round.
What does that mean?
Well it means that you’re trading where the big banks and institutions trade. It’s fine on an hourly chart but if you don’t have a 5pm start of day, your daily charts and your four hour charts can look quite different.
Many brokers for whatever reason (and I do not know why) sometimes use a six day week and they have a Sunday candle that lasts somewhere between two and four hours.
Now for traders like myself who trade off the daily charts, this is completely incorrect as it distorts the technical levels on our charts.
So just to recap, use a broker that uses 5pm Eastern Standard start of day time and it will definitely help give you the correct charting package that you need to be a good successful Forex Trader.
So I hope that helps and I look forward to talking to you this time next week, with some more Forex results and also some very useful Forex Trading tips for you.
That’s all for now!
See you soon…]]>202falsefullhttps://www.spreaker.com/episode/14th-september-the-forex-trading-coach-weekly-update--12239918
In this video:
00:30    The weakening of US Dollar all week along
01:00    Having a huge gain on one trade in just 4 weeks
01:21    Taking a buy position on the Australian Dollar /Swiss Franc
Hi everybody Andrew Mitchem here the Forex Trading Coach.
Today is Friday, the 14th of September.
Can you believe? We’re already half through another month.
Well it’s been a really interesting week!
Today being Friday, we had the Feds releasing a whole host of new stimulus into the US economy and you could almost see that coming this week because the US dollar has been weakening all week long.
When they finally made that announcement today, the currencies such as the Euro US dollar, and the New Zealand US dollar, Australian US Dollar, all of those currencies – anything against the US dollar, have just gone sky rocketing straight up.
Its also helped us with the silver trade that I keep talking about and that's gone up 26% since I took that trade four weeks ago.  The silver right now behind me is trading at $34.80.
So a huge 26% gain on that one trade in just four weeks!
So that’s going really well.
Elsewhere I've taken three trades today on the daily charts: I've got a short position on the US Dollar/ Canadian Dollar. That’s now reaching new lows that haven’t been seen for almost one year.
We’re also taking a buy position on the Australian Dollar /Swiss Franc. And I’ve taken a buy position on the Canadian Dollar/Japanese Yen and right now, all three are looking in really good profit.
If they are still open at the end of the week, I will then look at closing them manually before the weekend.
So all in all, it’s been another really good week and I look forward to talking to you this time next week.]]>http://theforextradingcoach.com/?p=1451Mon, 17 Sep 2012 02:28:28 +0000Andrew MitchemPodcast: In this video: 00:30    The weakening of US Dollar all week along 01:00    Having a huge gain on one trade in just 4 weeks 01:21    Taking a buy position on the Australian Dollar /Swiss Franc Hi everybody Andrew Mitchem here the Forex...
In this video:
00:30    The weakening of US Dollar all week along
01:00    Having a huge gain on one trade in just 4 weeks
01:21    Taking a buy position on the Australian Dollar /Swiss Franc
Hi everybody Andrew Mitchem here the Forex Trading Coach.
Today is Friday, the 14th of September.
Can you believe? We’re already half through another month.
Well it’s been a really interesting week!
Today being Friday, we had the Feds releasing a whole host of new stimulus into the US economy and you could almost see that coming this week because the US dollar has been weakening all week long.
When they finally made that announcement today, the currencies such as the Euro US dollar, and the New Zealand US dollar, Australian US Dollar, all of those currencies – anything against the US dollar, have just gone sky rocketing straight up.
Its also helped us with the silver trade that I keep talking about and that's gone up 26% since I took that trade four weeks ago.  The silver right now behind me is trading at $34.80.
So a huge 26% gain on that one trade in just four weeks!
So that’s going really well.
Elsewhere I've taken three trades today on the daily charts: I've got a short position on the US Dollar/ Canadian Dollar. That’s now reaching new lows that haven’t been seen for almost one year.
We’re also taking a buy position on the Australian Dollar /Swiss Franc. And I’ve taken a buy position on the Canadian Dollar/Japanese Yen and right now, all three are looking in really good profit.
If they are still open at the end of the week, I will then look at closing them manually before the weekend.
So all in all, it’s been another really good week and I look forward to talking to you this time next week.]]>111falsefullhttps://www.spreaker.com/episode/7th-september-the-forex-trading-coach-weekly-update--12239919
In this video:
00:25 Looking for some really good price action
00:35 Taking position on the Australian Dollar/US Dollar, Australian Dollar/Japanese Yen
01:08 Short position on the Euro/Canadian Dollar on the four hourly charts
01:41 Trust the Strategy; let the trade do its own thing
01:46 The set and forget approach’ mental effect on trade
02:16 Keeping risk low per trade
Hi everybody, Andrew Mitchem here, The Forex Trading Coach.
Today is Friday, the 7th of September 2012 and thank goodness it’s September!
The quiet month of August is behind us.
Now the European and the US markets are back after their summer holidays. We’re looking for some good price action. And we’ve finally seen some today!
I’m long on the Euro US dollar on a daily chart from yesterday, being Thursday and today I’ve taken a long position on the Australian Dollar/US Dollar and also the Australian Dollar/Japanese Yen. And right now, behind me those three trades are looking really good.
Yesterday I held my webinar, my fortnightly webinar for my clients. We had one hundred and six people on that webinar from all different countries around the world.
Really good webinar!
A lesson in it for me, was a lesson that I tell my clients and I forgot to do myself was let the trade do its own thing.
I’ll give you a really good example:
Yesterday I took a short position on the Euro/Canadian Dollar on the four hourly charts in front of my clients live on a live account. After the webinar had finished, the trade and was looking in really good profit.
However there was European interest rate announcement out and I saw that – it went against the trade. The trade then came back to a break-even and I closed the trade out for just a break-even trade.
I should have left the trade.
So even though I’ve been trading for nine years, I still occasionally make mistakes and it’s really a lesson to say, “Trust the Strategy. Let the trade do its own thing!”
The set and forget approach has the ‘less mental’ effect on the trade. Just put on yourself as a trader. Put the trade on, put your stop on, put your profit on, you’re happy with the trade.
Let it do its own thing.
I failed to that yesterday. It cost me about six thousand dollars. I came up with zero instead of six thousand.
So I’m hoping that the three trades that are on behind here right now will more make up for that. So, just a lesson I wanted to share with you. Last time we talked about risk to reward, and keeping risk low per trade.
The lesson for today is, trust you system, put the trade on, let the market detect which way the trade goes.
So that’s all for now!
Quick update on the silver that’s going really well. Just come back and touch then to the thirty-two level but it’s still doing really well. That’s the longer term silver that I’ve been holding for a number of weeks now.
So that’s all for now. The non-farm payrolls are out later today. So I’m expecting the market probably be a little bit quiet between now and then.
So that’s all.
Look forward to talking to you this time next week. Have a great week and be safe and be well.
See you next week!]]>http://theforextradingcoach.com/?p=1434Tue, 11 Sep 2012 08:06:09 +0000Andrew MitchemPodcast: In this video: 00:25 Looking for some really good price action 00:35 Taking position on the Australian Dollar/US Dollar, Australian Dollar/Japanese Yen 01:08 Short position on the Euro/Canadian Dollar on the four hourly charts 01:41 Trust...
In this video:
00:25 Looking for some really good price action
00:35 Taking position on the Australian Dollar/US Dollar, Australian Dollar/Japanese Yen
01:08 Short position on the Euro/Canadian Dollar on the four hourly charts
01:41 Trust the Strategy; let the trade do its own thing
01:46 The set and forget approach’ mental effect on trade
02:16 Keeping risk low per trade
Hi everybody, Andrew Mitchem here, The Forex Trading Coach.
Today is Friday, the 7th of September 2012 and thank goodness it’s September!
The quiet month of August is behind us.
Now the European and the US markets are back after their summer holidays. We’re looking for some good price action. And we’ve finally seen some today!
I’m long on the Euro US dollar on a daily chart from yesterday, being Thursday and today I’ve taken a long position on the Australian Dollar/US Dollar and also the Australian Dollar/Japanese Yen. And right now, behind me those three trades are looking really good.
Yesterday I held my webinar, my fortnightly webinar for my clients. We had one hundred and six people on that webinar from all different countries around the world.
Really good webinar!
A lesson in it for me, was a lesson that I tell my clients and I forgot to do myself was let the trade do its own thing.
I’ll give you a really good example:
Yesterday I took a short position on the Euro/Canadian Dollar on the four hourly charts in front of my clients live on a live account. After the webinar had finished, the trade and was looking in really good profit.
However there was European interest rate announcement out and I saw that – it went against the trade. The trade then came back to a break-even and I closed the trade out for just a break-even trade.
I should have left the trade.
So even though I’ve been trading for nine years, I still occasionally make mistakes and it’s really a lesson to say, “Trust the Strategy. Let the trade do its own thing!”
The set and forget approach has the ‘less mental’ effect on the trade. Just put on yourself as a trader. Put the trade on, put your stop on, put your profit on, you’re happy with the trade.
Let it do its own thing.
I failed to that yesterday. It cost me about six thousand dollars. I came up with zero instead of six thousand.
So I’m hoping that the three trades that are on behind here right now will more make up for that. So, just a lesson I wanted to share with you. Last time we talked about risk to reward, and keeping risk low per trade.
The lesson for today is, trust you system, put the trade on, let the market detect which way the trade goes.
So that’s all for now!
Quick update on the silver that’s going really well. Just come back and touch then to the thirty-two level but it’s still doing really well. That’s the longer term silver that I’ve been holding for a number of weeks now.
So that’s all for now. The non-farm payrolls are out later today. So I’m expecting the market probably be a little bit quiet between now and then.
So that’s all.
Look forward to talking to you this time next week. Have a great week and be safe and be well.
See you next week!]]>180falsefullhttps://www.spreaker.com/episode/31st-august-the-forex-trading-coach-weekly-update--12239920
In this video:
00:47     Knowing the three trades
01:03     Learning how trading happens
01:19     Accepting trade loses
01:31     The importance of high risk reward trading
01:38     The importance of low risk reward
03:06     An interesting trade with gold
03:56     Anticipating some more price action
Hi everybody, Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 31st of August and welcome along.
It’s been an interesting week and its actually been quite a mixed week – not a particularly easy week for trading.
Not been too many news events, but at the end of the week, it’s been the Jackson Hole meeting in the States, and that’s going on right now as I speak, and thats thrown me personally out of a couple of trades that I was in.
The three trades that looks good
This time yesterday I was long on the Euro US Dollar, the Pound US dollar, and the Pound Yen. All three were looking really good heading into the European session and then as the US session kicked in, the three trades were stopped out all of a sudden as the strength can back into the US dollar.
And like I mentioned last week, you know, that’s the way that trading happens.
You’ve got to take those losses. At the time they look really good trades – So I took them. I saw no reason not to take them and saw no reason to close them early or anything like that.
So really that is part of trading and it’s something that as traders we need to accept those loses. The set ups up at the time I took them looked good in my opinion.
The importance of high risk reward trading and low risk per trade
It also stresses an important point that a high risk to reward trading is really, really important.
So I'm talking about trying to get a two or three to one risk to reward.
It also means that a low risk per trade is also important.
Those three trades that went wrong yesterday, it's not great, I'm not please with it, but it’s not a big dent into my account.
By having that control risk, whatever your tolerance might be with half a percent per trade, or quarter, or in one percent per trade. Whatever it is that you’re comfortable with, it's important to stick with that level all the time.
For me on those trades yesterday, I was trading because there were daily chart trades half a percent, so I lost nearly one and a half percent. I had a couple of smaller gains through positions that entered into the market but the retracement trades of all three got stopped out.
Luckily I’ve made up for that on some of the shorter timeframe trades and right now behind me here I have a sell position on the Australian Dollar / Japanese Yen that put in today, Friday and that’s a short position and that’s looking really good right now. Not too far away from profit. So if that has a two and a half risk reward, which it does it, that will make up a lot of yesterday’s losses.
So that’s what I mean about high risk reward and low risk per trade.
On the longer term of the Silver that I mentioned last week, that’s a comeback a little bit. It got to that 31.25 earlier in the week. It's come back slightly but that’s fine as it’s a longer term buy and a hold position.
Having a really good trade with Gold
I took a short position on Gold and that was a really good trade.
Interesting though because, I took a short on Gold and long on Silver – Because they’re taking a two completely different timeframe charts – that's possible to be long on one or short on another if now the two are highly correlated trades.
With the shorter timeframe trades there's not been a huge amount this week. Like I mentioned the Jackson Hole event in the States has been a quiet big news event which is just kept the trading quite thin. Really like I mentioned,]]>http://theforextradingcoach.com/?p=1390Wed, 05 Sep 2012 01:29:33 +0000Andrew MitchemPodcast: In this video: 00:47     Knowing the three trades 01:03     Learning how trading happens 01:19     Accepting trade loses 01:31     The importance of high risk reward trading 01:38     The importance of low risk reward 03:06     An...
In this video:
00:47     Knowing the three trades
01:03     Learning how trading happens
01:19     Accepting trade loses
01:31     The importance of high risk reward trading
01:38     The importance of low risk reward
03:06     An interesting trade with gold
03:56     Anticipating some more price action
Hi everybody, Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 31st of August and welcome along.
It’s been an interesting week and its actually been quite a mixed week – not a particularly easy week for trading.
Not been too many news events, but at the end of the week, it’s been the Jackson Hole meeting in the States, and that’s going on right now as I speak, and thats thrown me personally out of a couple of trades that I was in.
The three trades that looks good
This time yesterday I was long on the Euro US Dollar, the Pound US dollar, and the Pound Yen. All three were looking really good heading into the European session and then as the US session kicked in, the three trades were stopped out all of a sudden as the strength can back into the US dollar.
And like I mentioned last week, you know, that’s the way that trading happens.
You’ve got to take those losses. At the time they look really good trades – So I took them. I saw no reason not to take them and saw no reason to close them early or anything like that.
So really that is part of trading and it’s something that as traders we need to accept those loses. The set ups up at the time I took them looked good in my opinion.
The importance of high risk reward trading and low risk per trade
It also stresses an important point that a high risk to reward trading is really, really important.
So I'm talking about trying to get a two or three to one risk to reward.
It also means that a low risk per trade is also important.
Those three trades that went wrong yesterday, it's not great, I'm not please with it, but it’s not a big dent into my account.
By having that control risk, whatever your tolerance might be with half a percent per trade, or quarter, or in one percent per trade. Whatever it is that you’re comfortable with, it's important to stick with that level all the time.
For me on those trades yesterday, I was trading because there were daily chart trades half a percent, so I lost nearly one and a half percent. I had a couple of smaller gains through positions that entered into the market but the retracement trades of all three got stopped out.
Luckily I’ve made up for that on some of the shorter timeframe trades and right now behind me here I have a sell position on the Australian Dollar / Japanese Yen that put in today, Friday and that’s a short position and that’s looking really good right now. Not too far away from profit. So if that has a two and a half risk reward, which it does it, that will make up a lot of yesterday’s losses.
So that’s what I mean about high risk reward and low risk per trade.
On the longer term of the Silver that I mentioned last week, that’s a comeback a little bit. It got to that 31.25 earlier in the week. It's come back slightly but that’s fine as it’s a longer term buy and a hold position.
Having a really good trade with Gold
I took a short position on Gold and that was a really good trade.
Interesting though because, I took a short on Gold and long on Silver – Because they’re taking a two completely different timeframe charts – that's possible to be long on one or short on another if now the two are highly correlated trades.
With the shorter timeframe trades there's not been a huge amount this week. Like I mentioned the Jackson Hole event in the States has been a quiet big news event which is just kept the trading quite thin. Really like I mentioned,]]>251falsefullhttps://www.spreaker.com/episode/24th-august-the-forex-trading-coach-weekly-update--12239922In this video:
00:20 Live trading webinar
00:50 Hitting really good profit
01:05 Understanding a very good risk reward ratio
02:03 Strong support level
02:41 Hitting absolute profit target
02:59 Getting good trades on short time frames
Hi Andrew Mitchem here again, the Forex Trading Coach.
Today is Friday, the 24th of August.
Well it’s been another amazing week with the trading. This time, yesterday we had a really good two and a half hour live trading webinar. I hold these webinars every two weeks for my clients and I’ve got clients from all over the world. Thirty eight countries I have clients from and many of them log in every two weeks and we trade live on a live account, in front of everybody. I trade here from my office and one of my live accounts.
Risk Reward Ratio
So we have really good trades, I believe it took about eight trades live during the session yesterday and on top of that I had probably about another six or seven open trades live. And they went through;
Most of them went through and hit really good profit. There were two actually on the four hour chart I think they got stopped out, but three others that took towards the end of the webinar all made. Now it’s really important to understand that when I trade I have a very good risk to reward ratio.
So looking at somewhere between a one a half to two and a half reward for every risk, every one risk.
So, for me I trade a half of percent of my account of risking half a percent per trade on a daily charts. And all the other time frames from four hourly, hourly and down to the fifteen minutes charts.
I risk only a quarter of one percent of my account on any one trade.
So upon risking a quarter percent and I have a two to one risk reward, that means that I’m making a half a percent gain for a quarter percent risk. So you can do the math and you work that I have for three profitable trades and two losing trades, you can see that the actual returns are really good.
Buying trade on the Silver
On top of that, longer terms, I'm personally taking a buy trade on the silver. I took it at the end of last week. I actually forgot to mention that in last week’s video, but I bought some silver when it got to the twenty seven fifty level. It’s been a really strong support level and I’m not really buying that so much in terms of looking at the closing out of that trading anytime soon. I’m just taking that more of a personal buy and hold philosophy on silver because I think that silver has got a long, long way to go.
Last year, just about touched fifty and theres no reason at all why over the next few month, possible years, that fifty plus that well beyond will be achieved – and that’s just a personal opinion.
Buying trade that hits profit target
What else have we had?
So on top of the webinar, we’ve had again a really good week. Have a buy trade on New Zealand dollar / US dollar that hit the profit target absolutely perfectly on Thursday, yesterday. That was the Thursday trade on the daily chart.
Today I’m taking a short position on the Australian US, and a long position on the Euro Pound. And they’re open now as I'm speaking.
So we’ve had some really good trades on short time frames outside of the webinar yesterday. The Euro Pound system, my Monday break out system, looks like it’s going to hit profit again this week. The last trade still in right now but it’s looking really good and its in good profit as I speak.
Tournament for the weekend
So what else going on for me personally?
I’m off for a Karate tournament now for the weekend. I’m a Karate instructor and I’ve got the next two days of Karate camp with all the instructors from around New Zealand meeting up together so effectively a good hard session of boot camp effectively but lots to learn.
So,]]>http://theforextradingcoach.com/?p=1374Fri, 24 Aug 2012 01:30:33 +0000Andrew MitchemPodcast: In this video: 00:20 Live trading webinar 00:50 Hitting really good profit 01:05 Understanding a very good risk reward ratio 02:03 Strong support level 02:41 Hitting absolute profit target 02:59 Getting good trades on short time frames Hi...In this video:
00:20 Live trading webinar
00:50 Hitting really good profit
01:05 Understanding a very good risk reward ratio
02:03 Strong support level
02:41 Hitting absolute profit target
02:59 Getting good trades on short time frames
Hi Andrew Mitchem here again, the Forex Trading Coach.
Today is Friday, the 24th of August.
Well it’s been another amazing week with the trading. This time, yesterday we had a really good two and a half hour live trading webinar. I hold these webinars every two weeks for my clients and I’ve got clients from all over the world. Thirty eight countries I have clients from and many of them log in every two weeks and we trade live on a live account, in front of everybody. I trade here from my office and one of my live accounts.
Risk Reward Ratio
So we have really good trades, I believe it took about eight trades live during the session yesterday and on top of that I had probably about another six or seven open trades live. And they went through;
Most of them went through and hit really good profit. There were two actually on the four hour chart I think they got stopped out, but three others that took towards the end of the webinar all made. Now it’s really important to understand that when I trade I have a very good risk to reward ratio.
So looking at somewhere between a one a half to two and a half reward for every risk, every one risk.
So, for me I trade a half of percent of my account of risking half a percent per trade on a daily charts. And all the other time frames from four hourly, hourly and down to the fifteen minutes charts.
I risk only a quarter of one percent of my account on any one trade.
So upon risking a quarter percent and I have a two to one risk reward, that means that I’m making a half a percent gain for a quarter percent risk. So you can do the math and you work that I have for three profitable trades and two losing trades, you can see that the actual returns are really good.
Buying trade on the Silver
On top of that, longer terms, I'm personally taking a buy trade on the silver. I took it at the end of last week. I actually forgot to mention that in last week’s video, but I bought some silver when it got to the twenty seven fifty level. It’s been a really strong support level and I’m not really buying that so much in terms of looking at the closing out of that trading anytime soon. I’m just taking that more of a personal buy and hold philosophy on silver because I think that silver has got a long, long way to go.
Last year, just about touched fifty and theres no reason at all why over the next few month, possible years, that fifty plus that well beyond will be achieved – and that’s just a personal opinion.
Buying trade that hits profit target
What else have we had?
So on top of the webinar, we’ve had again a really good week. Have a buy trade on New Zealand dollar / US dollar that hit the profit target absolutely perfectly on Thursday, yesterday. That was the Thursday trade on the daily chart.
Today I’m taking a short position on the Australian US, and a long position on the Euro Pound. And they’re open now as I'm speaking.
So we’ve had some really good trades on short time frames outside of the webinar yesterday. The Euro Pound system, my Monday break out system, looks like it’s going to hit profit again this week. The last trade still in right now but it’s looking really good and its in good profit as I speak.
Tournament for the weekend
So what else going on for me personally?
I’m off for a Karate tournament now for the weekend. I’m a Karate instructor and I’ve got the next two days of Karate camp with all the instructors from around New Zealand meeting up together so effectively a good hard session of boot camp effectively but lots to learn.
So,]]>247falsefullhttps://www.spreaker.com/episode/17th-august-the-forex-trading-coach-weekly-update--12239921In this video:
00:24 Fantastic trading opportunities
00:45 Style that goes with successful trading
01:17 Managed Forex Account Launched
01:25 Offering education for people
01:36 Getting higher return than average
Hi this is Andrew Mitchem, the Forex Trading Coach.
Today is Friday, the 17th of August.
Well it’s been another fantastic week for the trading.
It's been a little bit quite again on a daily charts. On the shorter time frame charts there's been fantastic trading opportunities again which I've managed to take a lot of, and I know a lot of my clients have.
Successful Trading Course
It’s really good when I get emails from my clients saying how well that they're doing and how well they’re enjoying the course.
That they're enjoying, even loving their trading!
Which is really good because it’s not just about making the money of course. It’s about enjoying what you doing and having the freedom and the lifestyle that goes with successful trading.
And a number of my clients have taken another courses in the past and found the most that the other courses out there just not delivering what they need.
My course, as you can see here, I’m trading right now, so I’m speaking to you.
I am a trader – number one – and educator also.
Managed Forex Account Launched
Yes it’s been a little bit quite on the dailies as I mentioned but the shorter time frame has again been really good.
Another piece of really exciting news for myself is the launch of my managed Forex Accounts company this week. That’s called http://www.wealthwithforex.com and am getting a lot of interest in that.
So really there's the two options today:
Learning to Trade
I offer the education for people who want to learn to trade for themselves and on the other hand I offer the manage Forex Accounts to people who have some cash, who want something with the higher than average return for their money from a managed Forex account as well.
So really that’s all the news for this week and I look forward to bringing you some more news this time next week.]]>http://theforextradingcoach.com/?p=1369Fri, 17 Aug 2012 01:40:50 +0000Andrew MitchemPodcast: In this video: 00:24 Fantastic trading opportunities 00:45 Style that goes with successful trading 01:17 Managed Forex Account Launched 01:25 Offering education for people 01:36 Getting higher return than average Hi this is Andrew Mitchem,...In this video:
00:24 Fantastic trading opportunities
00:45 Style that goes with successful trading
01:17 Managed Forex Account Launched
01:25 Offering education for people
01:36 Getting higher return than average
Hi this is Andrew Mitchem, the Forex Trading Coach.
Today is Friday, the 17th of August.
Well it’s been another fantastic week for the trading.
It's been a little bit quite again on a daily charts. On the shorter time frame charts there's been fantastic trading opportunities again which I've managed to take a lot of, and I know a lot of my clients have.
Successful Trading Course
It’s really good when I get emails from my clients saying how well that they're doing and how well they’re enjoying the course.
That they're enjoying, even loving their trading!
Which is really good because it’s not just about making the money of course. It’s about enjoying what you doing and having the freedom and the lifestyle that goes with successful trading.
And a number of my clients have taken another courses in the past and found the most that the other courses out there just not delivering what they need.
My course, as you can see here, I’m trading right now, so I’m speaking to you.
I am a trader – number one – and educator also.
Managed Forex Account Launched
Yes it’s been a little bit quite on the dailies as I mentioned but the shorter time frame has again been really good.
Another piece of really exciting news for myself is the launch of my managed Forex Accounts company this week. That’s called http://www.wealthwithforex.com and am getting a lot of interest in that.
So really there's the two options today:
Learning to Trade
I offer the education for people who want to learn to trade for themselves and on the other hand I offer the manage Forex Accounts to people who have some cash, who want something with the higher than average return for their money from a managed Forex account as well.
So really that’s all the news for this week and I look forward to bringing you some more news this time next week.]]>112falsefullhttps://www.spreaker.com/episode/7th-august-the-forex-trading-coach-weekly-update--12239923
In this video:
00:30 Good clear price action +8.61% for me this week
01:40 Set and Forget Daily Chart Results  +7.05% in July
02:30 Why I like trading the hourly charts
02:40 Getting some more daily trades
Hi everybody, Andrew Mitchem here, the Forex Trading Coach.
Great to be with you today!
Today is Tuesday the 7th of August, 2012 and right now as we're recording we are in the Asian session, things are a little bit slow right now.
Just really waiting for the markets to pick up especially after last week’s non-farm payroll on Friday.
Picking up good trades
I’ll be anticipating that as we are heading to the European session today, we will see some good clear price action which will help us with the rest of the week on the longer time frame charts. Right now it’s just indecision and it’s really quiet hard on the daily charts especially to see which way the main currencies are trying to go.
Last week was a really good week. Less so on the daily charts but personally for me the hourly charts and the four hourly charts picked up some really good trades.
Of course, there are losing trades like you get all the time but overall some exceptionally good trades.
On the daily charts I did have good trades on the Gold/US dollar and the British Pound/ Australian Dollar and the Australian Dollar/New Zealand Dollar all of which made full profit – which ranged between two and a half to three risk to reward.
Daily Trade Suggestions
The previous week was an amazing week +8.61% for me personally on all time frame charts and the other news also, I've just finish tallying up the July daily trade suggestions that I made for my clients each day, the set and forget suggestions, and with half a percent risk we made +7.05% in July.
That’s assuming complete set and forget. No on-going management, no closing trades before the weekend anything like that, just purely put the trade on at the levels of suggest and teach – the set and forget. The +7.05 for July which has helped to bring the annual return of the daily chart’s back up. Definitely a tougher year this year on the daily charts and the set and forget method, which really is why a lot of my clients and myself included  have taken a lot more trades this year on the four hourly charts and the one hourly charts.
The clients of mine do chose to trade down to 30 minutes, 15 minutes, some even 5 minute charts. That’s absolutely fine and they do really well. For me personally, that doesn’t suit me. I’m not so keen on watching the charts all the time.
I love the hourly chart which means I can come to look at my computer once every hour.
I've just literally taken a trade right now before this recording, I've taken a buy trade on the hourly chart on the New Zealand Dollar/US Dollar. It's looking a really good trade so we will see how those progresses  as we go through.
Leading on the rest of the week like I've mentioned, I’m hoping to get some more daily trades coming through once we see some clear price action today.
So that’s all for now, and looking forward to give you an update later on in the week.]]>http://theforextradingcoach.com/?p=1332Tue, 07 Aug 2012 01:42:00 +0000Andrew MitchemPodcast: In this video: 00:30 Good clear price action +8.61% for me this week 01:40 Set and Forget Daily Chart Results  +7.05% in July 02:30 Why I like trading the hourly charts 02:40 Getting some more daily trades Hi everybody, Andrew Mitchem here,...
In this video:
00:30 Good clear price action +8.61% for me this week
01:40 Set and Forget Daily Chart Results  +7.05% in July
02:30 Why I like trading the hourly charts
02:40 Getting some more daily trades
Hi everybody, Andrew Mitchem here, the Forex Trading Coach.
Great to be with you today!
Today is Tuesday the 7th of August, 2012 and right now as we're recording we are in the Asian session, things are a little bit slow right now.
Just really waiting for the markets to pick up especially after last week’s non-farm payroll on Friday.
Picking up good trades
I’ll be anticipating that as we are heading to the European session today, we will see some good clear price action which will help us with the rest of the week on the longer time frame charts. Right now it’s just indecision and it’s really quiet hard on the daily charts especially to see which way the main currencies are trying to go.
Last week was a really good week. Less so on the daily charts but personally for me the hourly charts and the four hourly charts picked up some really good trades.
Of course, there are losing trades like you get all the time but overall some exceptionally good trades.
On the daily charts I did have good trades on the Gold/US dollar and the British Pound/ Australian Dollar and the Australian Dollar/New Zealand Dollar all of which made full profit – which ranged between two and a half to three risk to reward.
Daily Trade Suggestions
The previous week was an amazing week +8.61% for me personally on all time frame charts and the other news also, I've just finish tallying up the July daily trade suggestions that I made for my clients each day, the set and forget suggestions, and with half a percent risk we made +7.05% in July.
That’s assuming complete set and forget. No on-going management, no closing trades before the weekend anything like that, just purely put the trade on at the levels of suggest and teach – the set and forget. The +7.05 for July which has helped to bring the annual return of the daily chart’s back up. Definitely a tougher year this year on the daily charts and the set and forget method, which really is why a lot of my clients and myself included  have taken a lot more trades this year on the four hourly charts and the one hourly charts.
The clients of mine do chose to trade down to 30 minutes, 15 minutes, some even 5 minute charts. That’s absolutely fine and they do really well. For me personally, that doesn’t suit me. I’m not so keen on watching the charts all the time.
I love the hourly chart which means I can come to look at my computer once every hour.
I've just literally taken a trade right now before this recording, I've taken a buy trade on the hourly chart on the New Zealand Dollar/US Dollar. It's looking a really good trade so we will see how those progresses  as we go through.
Leading on the rest of the week like I've mentioned, I’m hoping to get some more daily trades coming through once we see some clear price action today.
So that’s all for now, and looking forward to give you an update later on in the week.]]>184falsefull