Good 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 Trading Does NOT Need to be Complicated In this video: 00:27 – Don’t make trading harder than it needs to be. 01:25 – You need a simple and solid strategy. 02:16 – The 3 things that can happen in the market.  03:02 – The 2 basic patterns we trade. 03:50 – Trading is a probability, not a guarantee. 04:32 – Book a call and attend my Masterclass. 04:45 – Trade through Blueberry Markets. Good trading does not need to be complicated. Don't forget, the wheel is simply round and it works. So 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 528. Don’t make trading harder than it needs to be. I want to talk about a topic that a lot of people get stuck in their minds and they think that trading needs to be overcomplicated. They think it needs to be difficult and they get this, I suppose, perception by thinking that like it's something only the pros do or it's something you need to be in a 50 story, you know, tower block in London or Dubai or New York or something, and you need to walk around in a big flash suit and shirt and tie in order to be a good trader. And so I think people get the impression that you need all these complicated systems and algorithms and things going on and insider knowledge of what's happening in order to do well at trading. And the reality is you don't need any of that to do well at trading. You need a simple and solid strategy. Well, you need a good, simple, solid strategy that works. And like most simple things, they work. Again, like I said, think of the wheel. Don't reinvent the wheel. It's round. It's simple. It cannot be more any more simple. And it works. You know. Other examples. I love cooking. So what's my favorite medium to cook on? You know, you can have all your electrics and gases and all the rest of it. Fire is with that that the best in terms of enjoyment and certainly taste and flavor. You know to cook on fire and charcoal. Nothing beats it. And why? Because it works. And why? Because it's simple. Trading is exactly the same. The 3 things that can happen in the market.  Now, putting it in absolute basics. What can happen in the market? In any currency pair, any market, It's going to go up. It's going to go down. It might go a bit sideways, a bit rangebound. That's really all that can happen. So the market's going sideways. Okay. Rangebound generally for the way I trade means there's no trades there because I'm looking predominately at candle pattern and that's my initial set up is the candle. If it's rangebound, there's nothing, you know, there's no prior indecision. It's just going flat. It's not over bought. It’s not oversold. it's got a trend line break. So therefore no trade. Very easy just to move on to the next market. The 2 basic patterns we trade. And so we look at two quite basic and quite simple patterns, and we look for continuation patterns and we look for reversal patterns. And so those two are really when it comes down to it, all we teach and all we trade and it's all we've ever taught and traded because they work, because they're simple, they're easy to identify. Now when I go through and look at trades that have been successful and I go through our forum site, I go through our webinars. I go to our daily trades and I analyze my trades and I go back and look at the trades that have been really good. They pretty much all take all the boxes of what we're looking for a successful trade. Trading is a probability, not a guarantee. So trading is not a guarantee, it's a probability just because the patterns worked for the last five times and you see it again,

How 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 #527: How a Client Made a 7:1 Reward:Risk Trade in under 1 Hour In this video: 00:30 – A great trade on the NZD/CAD H4 chart. 01:29 – The trade made an incredible 7:1 R:R. 03:05 – 2:3 R:R on the USD/CHF.  03:35 – Clients passing Prop firm challenges. 03:50 – Get onto my trading Masterclass. 04:07 - Chat with us 04:14 – Open a trading account with Blueberry Markets. We've had a client make a massive 7 to 1 reward to risk ratio trade in under one hour while we were on a live webinar. Let me explain more and how you can do exactly the same. Right now. Hey there, Traders! This is Andrew Mitchem here at the Forex Trading Coach. With video and podcast number 527. A great trade on the NZD/CAD H4 chart. Now, just earlier this morning I was on a live for us session webinar with our clients and during that session someone already had opened a four hour chat trade on the New Zealand dollar, Canadian dollar, and it's a buy trade and it was going really quite well. But at the time we were talking, the price had retrace down to the entry level because we were taking a buy limit and actually going further down towards the stop loss level. However, the stop loss on that trade on the New Zealand Canadian dollar was below the round number of 82, 0.82. And while we were talking, a number of other clients said, Hey Andrew, look, because we've got that stop loss protection, can I jump in at the market right now? And I said, Yeah, of course you can, because the trade still valid. The stop loss was holding. We'd had previous resistance levels and now we come down and we were using that 82 as a support level. And I said, Yeah, jump into the trade. And so a number of people did. The trade made an incredible 7:1 R:R. Now, within under one hour we had clients saying that they closed out of the trade, it hit the profit target before we finished the webinar and it made an incredible 7 to 1 reward to risk on that trade. So if you use my my suggested level of half of 1% risk of your account per trade, that meant that those clients made a massive 3.5%, three and a half percent gain on their account in under one hour just by being on the webinar. So what does that mean? Well, first of all, we are identifying high quality trades and we're discussing them. We're talking about them. We're saying the reasons why we're taking the trade or why we're not taking the trade. And so for me, the quality of that life in discussion cannot be underestimated. It's something you just will not get by yourself or if you on some forum site somewhere and no one really knows what it is that you're trading. We are all trading the same system, looking at the same charts at the same time, all with the common goal of helping each other. So that to me is absolutely incredible. And you cannot underestimate how valuable that is for anybody, regardless of your trading experience. If you're a brand new to trading, it's going to be incredibly valuable. But if you've been trading for a while and just to jump on once a week or every couple of weeks and just view what we're doing in real time and discuss that, that is absolute gold. And, you know, it's just shows with the returns that we made. 2:3 R:R on the USD/CHF.  I also took a trade on the four hour chart on the US Swiss franc, which made a 2.3 to 1 reward to risk not quite as high as the massive 7 to 1, but that was more random, normal reward to risk levels that we get. I've also taken some trades on the 4 hours and 8 hours that are still open behind me right now, but just goes to show what happens when you build yourself a community like minded people all around the world. And so that's how we can help you to achieve your trading goal...

From 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 #526: Slow & Steady Wins the Day In this video: 00:29 – Why a slow & steady trading style is best. 01:13 – My background really helps. 02:04 – Karate & Flying.  02:48 – Raising a large family. 03:31 – Consistency in our own trading. 04:21 – Get onto my trading Masterclass. 04:45 – Trade through Blueberry Markets. 05:20 – Like & Subscribe to our channel. I'm going to explain why a slow and steady trading approach is your best chance of success to be a full time forex trader or prop firm trader? Let's get into that and more right now. Hey there, traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach. With Video and podcast number 526. Why a slow & steady trading style is best. Now I want to talk about a slow and steady approach to trading You see in life right now everybody's fast pace wants action, wants instant results. Everything's available on your phone. No one can wait any longer. Everybody wants things now. Now, now, now. All the time. And the danger with that is that when it comes to the reality of trading, well. Most people, unfortunately, take that same approach. They want to be a multimillionaire next week. They want to pass a firm challenge within two days. They want to you know, how much do I need, Andrew, in order to give up my job and make $10,000 a month? You know, everybody always wants that that instant result and answer without doing the prior work. My background really helps. Now, I'm quite fortunate in many ways. One, I'm a little bit older. But two, I come from a farming background, and I think that has been a massive help for my own trading because you realize in farming that consistently doing things properly and planning and a slow and steady approach whilst always having an eye on the future and never being stuck in your ways is a really good way of farming successfully. You have to turn up, You have to do things consistently as a dairy farmer. You have to milk the cash twice a day. You know, you have to be planting crops at the right time. You have to be doing things. It doesn't matter whether it's raining or it's Christmas Day or your birthday or you're not feeling well, you have to show up. And so that consistency is is absolutely vital, I believe, to success. And as a trader, that consistency of constantly showing up is also vital as well. Karate & Flying.  Now, other things that have helped me personally and I hope can help you. I've studied karate for many years and again, that slow, steady, consistent, repeatable approach is what gets you from being a white belt through to a black belt. You're not going to get there instantly. You're not going to go and watch a whole heap of videos and suddenly, wham, next week you're a black belt. That doesn't happen. It's that consistency, that hard work, that dedication. As many of you know, I also own and fly helicopter. The same thing applies. You cannot go out there and do like five lessons and suddenly go and fly one of the most difficult machines on the planet, the race to fly, you know. So you have to be slow, steady, consistent, show up, do the hard work, and then the rewards follow. Raising a large family. And you also may know we've got five children. So same thing. You know, a lot of hard work, a lot of dedication, a lot of consistency through bringing up five children. And now more recently, I'm learning to play the guitar exactly the same thing. I cannot go and stand on stage within 5 minutes. You know, you have to learn the whole basics and get better and better and more practice and you learn to go up and then you have a few down days or weeks and then you go another level again. So that consistency turning up.

From 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 #525: From Brand New to Trading on a Prop Firm within 3 Months In this video: 00:33 – Jae has taken 3 months from new to trading on a prop firm. 01:29 – Making mistakes like every new trader does. 02:23 – Ready to trade on a prop firm. 03:52 – Our on-demand Masterclass. 04:09 – Book a call with us. 04:22 – Open an account with Blueberry Markets. 04:51 – How to contact me Today, I'm going to explain how a client of ours who has never traded at all only three months ago, is now preparing to trade through multiple prop firms. Let me talk about that and more and show you how he did it. Right now. Hey, traders, Andrew Mitchem here at the Forex Trading Couch for a video on podcast number 525. Jae has taken 3 months from new to trading on a prop firm. That's right! I want to talk about a client of ours called Jae. Now Jae joined us on the 2nd of August this year 2023. Today is the 3rd of November as I'm recording this, have a chat with Jae last night. So exactly three months since he joined and three months ago Jae had never traded. He never got into trading. He knew nothing about it. It does a bit of research, but he never even traded on demo. He joined us three months ago and over those three months he's put a lot of time, effort, dedication into learning the strategy, asking questions, turning up on webinars. If he can't turn up live. He's been watching replays, he's been going through previous webinars, the forums sides following our daily trades and taking trades by himself and communicating this trade so he's learning from them. Making mistakes like every new trader does. Now being new to trading. Jae's made mistakes. Of course he has, and one of the interesting things that he said to me last night on our conversation on the Zoom call was he said, You know, Andrew, every time I've deviated away from your rules, I've had losing trades and I've gone back in of analyze that and I realize I've made mistakes and I've changed things and then I've gone back and stuck to rules and taken trades that are in line with what we teach and how we trade. And guess what? The results have come back right again. And it's a journey. And as a path that everybody goes through, you know, from trading one minute charts, staying up all day and night through to, you know, finally figuring out that if you stick to a strategy, stick to and you know, the of can do everything that we talk about week after week after week, the strategy does work and the results will therefore follow. Ready to trade on a prop firm So fast forward after only three months. It's hardly a fast forward, is it? But the reality is that we were then talking last night about how Jae can get onto prop firms, which wants to consider using a virtual server trading only on you one like made a candle of yourself and having your trades copied automatically to a prop firm or multiple prop firms, which is Jae's Jae sort of journey that he's looking at going on. And so what I asked him and what I'm going to do for you is I've said to him, Look, what I'd love to do is come back in a couple of months and do a live zoom conversation and record that and share that with you so that I can then track Jae's progress. So now we've gone from absolute beginner to now I'm ready to get onto a prop firm, so I want to give him a few months to get into prop them, open an account, maybe two or three by then, and track his progress and have a conversation with him with an update. So I think by doing that, you'll be able to see how someone who's put that effort in has gone along really quite fast and made massive progress. So that shows me that anybody can do this. I know that. But now I'm having conversations with people who are proving ...

From 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 #525: From Brand New to Trading on a Prop Firm within 3 Months In this video: 00:33 – Jae has taken 3 months from new to trading on a prop firm. 01:29 – Making mistakes like every new trader does. 02:23 – Ready to trade on a prop firm. 03:52 – Our on-demand Masterclass. 04:09 – Book a call with us. 04:22 – Open an account with Blueberry Markets. 04:51 – How to contact me Today, I'm going to explain how a client of ours who has never traded at all only three months ago, is now preparing to trade through multiple prop firms. Let me talk about that and more and show you how he did it. Right now. Hey, traders, Andrew Mitchem here at the Forex Trading Couch for a video on podcast number 525. Jae has taken 3 months from new to trading on a prop firm. That's right! I want to talk about a client of ours called Jae. Now Jae joined us on the 2nd of August this year 2023. Today is the 3rd of November as I'm recording this, have a chat with Jae last night. So exactly three months since he joined and three months ago Jae had never traded. He never got into trading. He knew nothing about it. It does a bit of research, but he never even traded on demo. He joined us three months ago and over those three months he's put a lot of time, effort, dedication into learning the strategy, asking questions, turning up on webinars. If he can't turn up live. He's been watching replays, he's been going through previous webinars, the forums sides following our daily trades and taking trades by himself and communicating this trade so he's learning from them. Making mistakes like every new trader does. Now being new to trading. Jae's made mistakes. Of course he has, and one of the interesting things that he said to me last night on our conversation on the Zoom call was he said, You know, Andrew, every time I've deviated away from your rules, I've had losing trades and I've gone back in of analyze that and I realize I've made mistakes and I've changed things and then I've gone back and stuck to rules and taken trades that are in line with what we teach and how we trade. And guess what? The results have come back right again. And it's a journey. And as a path that everybody goes through, you know, from trading one minute charts, staying up all day and night through to, you know, finally figuring out that if you stick to a strategy, stick to and you know, the of can do everything that we talk about week after week after week, the strategy does work and the results will therefore follow. Ready to trade on a prop firm So fast forward after only three months. It's hardly a fast forward, is it? But the reality is that we were then talking last night about how Jae can get onto prop firms, which wants to consider using a virtual server trading only on you one like made a candle of yourself and having your trades copied automatically to a prop firm or multiple prop firms, which is Jae's Jae sort of journey that he's looking at going on. And so what I asked him and what I'm going to do for you is I've said to him, Look, what I'd love to do is come back in a couple of months and do a live zoom conversation and record that and share that with you so that I can then track Jae's progress. So now we've gone from absolute beginner to now I'm ready to get onto a prop firm, so I want to give him a few months to get into prop them, open an account, maybe two or three by then, and track his progress and have a conversation with him with an update. So I think by doing that, you'll be able to see how someone who's put that effort in has gone along really quite fast and made massive progress. So that shows me that anybody can do this. I know that. But now I'm having conversations with people who are provin...

Are 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 Getting Stopped Out All Of the Time? In this video: 00:26 – Do you keep getting stopped out? 00:47 – What are the issues here? 01:32 – Not knowing where to place your stop loss? 02:02 – Trading is emotional. 02:35 – How to avoid being stopped out all of the time. 03:40 – Consider Blueberry Markets 03:48 – Book a call with us and watch my Masterclass Why do I keep getting stopped out? Today, we're going to delve into that question that has annoyed many a forex trader. So let's get into that and talk about it and more. Right now. Hey, everybody! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 524. Do you keep getting stopped out? Now, are you getting stopped at all of the time? It's a frustrating experience. You've done your analysis, you place your trades you set your stop loss only to find that the market momentarily dips far enough to hit a stop loss and then it goes back in your intended direction. It's like the markets go a personal vendetta against you, right? That's how it feels. What are the issues here? Well, let's have a look to see what you can do about that to stop that happening. Because the most common reason that I find that many people have is their stop loss is too tight. A tight stop loss might seem appealing because it minimizes your risk, or so you think on paper, but often it doesn't account for the natural volatility in the market. Now financial markets ebb and flow. They rarely move in straight lines. So if you're a stop loss is too tight, you're probably going to get stopped out during these minor counter movements. And it's something that you need to be aware of and because not every single time are you going to place a trade that moves straight up into your direction all the time. Not knowing where to place your stop loss? The second reason and again, probably a very common reason is because most people don't know where to put their stop loss for each trade they take. Most people use the same stop loss all the time for some reason. Now each market condition requires a different stop loss size. The size of the stop loss should reflect the timeframe of the chart being traded. The pair been traded, and also the market conditions at the time. Because don't forget, different pairs move in different speeds and different amounts. Trading is emotional. And thirdly is emotion and let's face it, trading is an emotional endeavor, and especially when money is on the line. Now, some traders, they move their stop loss because of fear or greed that leads to inconsistent outcomes. And now a well calibrated stop loss is based on a sound trading strategy and knowing where to put your stop loss and why. Each time. So the danger is if you become emotional, you do things that are erratic. So you need to stick to your plan and don't offer it. Don't change your plan just on a whim. How to avoid being stopped out all of the time. So what can you do to avoid being stopped out? Well, here's a few quick tips for you. So is understanding what to do and when to do it. Making sure that your trades have equal risk per trade regardless of the stop loss size. Most people think that they're stop loss needs to be small because that means they're going to lose more if the stop loss gets taken out. That is not true. We can certainly help you there to understand that a lot more. So adjust your stop loss, adjust your stop loss size accordingly so you can put your stop loss in the right place for that trade at the time you stop losses there. It's a tool to protect your capital. Don't forget that you will get stop that from time to time. But you need to remember if you've got a good, sound strategy and the trade goes against you,

Adapting 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 team now #523: Adapting Your Trading Strategy to the Current Market Conditions In this video: 00:32 – How often should you change your strategy?   01:24 – I’ve been trading for 20 years 02:14 – We look at Price Action 02:56 – The way we deliver the course and more markets available to trade 04:38 – Get to view my Masterclass 04:55 – Book a call with me and my team - https://theforextradingcoach.com/call-application/ 05:03 – Blueberry Markets I received a question this week from someone that says, “Hey, Andrew. Is your content ever updated to adapt to the current market conditions?” So I thought I'd make this video on podcast this week. Outside in the sun and answer that question for you. Hey, there traders! This is Andrew Mitchem here at the Forex Trading Coach. With video and podcast number 523. How often should you change your strategy?   I've been asked the question about changing your strategy to adapt to the market conditions. Is that something that I do regularly? And if so, when? And it's a question is actually a really good, smart question because unfortunately, far too many people would do that and they find that the trading is not going to well, something's happened in the market. It may be more rangebound or there could be more price action. And so therefore, they change their system in their strategy and their whole approach to adapt to what's actually happening in the market at that time. The issue I have with that is how do you know how long to give it when things are going bad? In order for you to realize that you're doing something wrong and therefore you need to make a change. And that becomes the old issue that everybody has. And it's like in hindsight, it's fantastic. In reality, things don't go so well. I’ve been trading for 20 years Now, as someone who's been trading the forest markets for 20 years now and teaching for over 14 years, I can tell you that in the 14 years that I've been teaching and around three years prior to that, I've never changed the strategy at all. It's not changed. If I look back at my daily trade suggestions back in 2009, I look back at my first live webinars I did with clients back in 2010. Nothing's different. And that's the beauty of what we do. And you see, you got full confidence in knowing that the way that we trade, the way that we look at the market, the way that we teach, the way that we analyze everything that we do on the webinars, on the forums, on the daily trades, etc., is exactly the same. Nothing at all has changed. And so how do we manage that? I suppose would be the obvious next question. We look at Price Action Well, it's all to do with the strategy and the way that we trade and we look at price action, we look at the price itself, we look at candle formations where they showed on the chart. What part of the chart are they in? Do they have stop loss protection? They've got room to move. They have strength and weakness with them. All those type of things that we look at on the charts to actually give us the initial chart sets up and the yes or no, do we have a trade here or not? Now, you will probably know that we only trade on the close of a candle. So that makes our trading very easy to know when to trade and reality is you can trade just sort of once or twice a day. I look at multiple timeframe charts at that exact time. The way we deliver the course and more markets available to trade Now, the only thing that has changed over those years is just the way that we deliver the course. It's, you know, obviously like everything, it's improved. It's got cheaper, it's got more efficient. You know, we're not flying like seen people around the world any longer.

Why 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 Successful Trading Strategy? In this video: 00:30 – Why would you sell your trading strategy?   01:10 – How I started 02:25 – Teaching the strategy 03:40 – The number of clients expands   04:10 – The start of the TFTC community of traders 05:28 – Teaching clients for a broker 06:47 – Helping like-minded people worldwide 08:30 – Blueberry Markets 08:45 – Book a call with me and my team - https://theforextradingcoach.com/call If a trading system is so good, why would the developer of that trading system wish to sell it and share it with other people? Let me answer that question for you and more right now. Hey there, Forex Traders! Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 522. Why would you sell your trading strategy?   Now received an email this morning from a trader for John over in the UK. They said, Andrew, I need to ask you this question. It's the the obvious question to ask and it's like if you're so good at trading and if your system is so good. Why do you need to sell it to people? And it's quite a, you know, an obvious question. And so what I'd like to do on today's video and podcast is to give you a bit of detail and background about the Forex Trading Coach and my trading. To help you to understand where we've grown over the years, where we are today, and why we do what we do. How I started So I've been trading for just around 20 years now and back in around 2007 I ended up being the top trader on an auto trade company. Back in the early, early days of trading where you could buy signals off people. And I won the competition, won the global competition. I had a system that worked really well and it topped everybody. There were hundreds and hundreds of traders even back then. And so back then, people could follow along. Had no idea who you were, but they could follow along and buy off that company. Now, that was okay, but I thought, okay, I've come and won this. So what I ended up doing is creating a very basic signal system. Back in the early days, you know, websites were very basic. There was PayPal and nothing else. And then what I ended up doing is I ended up developing an email each day that went out and it was like, buy here, stop loss, their profit target there. And people would pay a monthly subscription for that. And it went really well. Teaching the strategy And I got to a brand end of 2008, early 2009. And then I received an email from one particular subscriber who lives over in Noosa, in Australia. And he said to me, Andrew, I'm really enjoying your signals. They're doing well. I'm making really good money from it. But more importantly, I'd love you to come and teach me how you do what you do. So rather than just relying on your email each day, I can find out how to do this for myself because ultimately I could get hit by a bus, you know, no more Andrew and this guy went from making a lot of money to suddenly no emails, and that was it. So he wanted to develop that information, that knowledge education for himself, which is fair enough. So I put together the course into like a word document, took it down the road to the printers and say how you make this into a real nice, colorful page doc in a booklet for me. And that's what we did. It was really was as as basic as that went across to Australia, took a back up flash drive in case I lost everything and I spent three or four days with this guy. He's still a client to this day. And with him and his family teaching him how to trade it was really enjoyable to discuss trading in person with someone. So that was the very first client. The number of clients expands  

Why 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% Winning System is a Bad Idea In this video: 00:25– Why I don’t trade the news   01:20 – Problems with Fundamental trading 02:30 – Different conclusions from the same news 03:30 – Trading what you see as a Technical trader   05:00 – Book a call with me and my team - https://theforextradingcoach.as.me/schedule.php 05:21 – Blueberry Markets As a full time forex trader, I completely ignore the news. Let me explain why and how we trade. Let's get into that and more. Right now. Hey there forex traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 520. Why I don’t trade the news   And that's right. I completely ignore the news. I don't look at the news. I don't consider the news and it just does not affect my trading. Now, in the Forex world, there are generally two types of traders. We have fundamental traders who do look at news announcements. Aand we have technical traders. And I'm definitely a technical trader because I look at charts, I do not clutter my charts with lots and lots of indicators because that just becomes a mess and I'm tradable. I look price action, I look at the close of a candle and I look at what is actually happening in the market and make a decision. Do I have protection for my stop loss? Do I have room to move to my profit target? I know that my patterns work across all timeframes, all markets, and depending on the conditions at the time, if I see the pattern, I take the pattern because it has such a high probability chance of success. Problems with Fundamental trading Now fundamental traders look at the news. And while I personally still do look at Forex Factory once a day on the calendar just to see what's happening purely out of interest, I don't care about the news. It doesn't influence my trading. I don't take positions out. Just prior to news or anything like that because as a technical trader I don't need to. I trade what I see. The issue I've always had, or there's quite a few issues. I've always had a fundamental trading. From a practical point of view, depending on where you live in the world, some of the major market news announcements might be like 2:00 or 4:00 in the morning, not very practical for me living in New Zealand, if I'm looking at the European news or especially the US News, that's like, you know, sort of 11:00, 12:00, 2:00 in the morning type of things. Likewise, if you're in Europe or the US and you're looking at Australian news, let's say, oh, Japanese news, it's not at a very convenient time. And the other thing is from a practical point of view, is you'll find quite often brokers will increase spreads massively, Sometimes if price freezes around news announcements. So it's not quite all. It's like sort of talked up to be when you trade news. Different conclusions from the same news The other thing is also is if you look at a news announcement and I look at a news announcement, we could see the same news announcement and draw completely different conclusions because you might say, oh, it's way better than expected figure. Therefore we should be buying that that currency. I might say yes, better than expected. But last month they've dropped it all. There's been some commentary after that to say this is going to be, let's say, the last interest rate hike or something like that, which means yes, okay. But long term, it's not so good. So different people will see news announcements in different ways. So you got to be real careful there. And in all honesty, most big news announcements generally go in the way of the longer timeframe charts as a technical trader anyway, I can pretty much see most of the time which way news announcements ar...

Why 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 video: 00:25– Why I don’t trade the news   01:20 – Problems with Fundamental trading 02:30 – Different conclusions from the same news 03:30 – Trading what you see as a Technical trader   05:00 – Book a call with me and my team - https://theforextradingcoach.as.me/schedule.php 05:21 – Blueberry Markets As a full time forex trader, I completely ignore the news. Let me explain why and how we trade. Let's get into that and more. Right now. Hey there forex traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 520. Why I don’t trade the news   And that's right. I completely ignore the news. I don't look at the news. I don't consider the news and it just does not affect my trading. Now, in the Forex world, there are generally two types of traders. We have fundamental traders who do look at news announcements. Aand we have technical traders. And I'm definitely a technical trader because I look at charts, I do not clutter my charts with lots and lots of indicators because that just becomes a mess and I'm tradable. I look price action, I look at the close of a candle and I look at what is actually happening in the market and make a decision. Do I have protection for my stop loss? Do I have room to move to my profit target? I know that my patterns work across all timeframes, all markets, and depending on the conditions at the time, if I see the pattern, I take the pattern because it has such a high probability chance of success. Problems with Fundamental trading Now fundamental traders look at the news. And while I personally still do look at Forex Factory once a day on the calendar just to see what's happening purely out of interest, I don't care about the news. It doesn't influence my trading. I don't take positions out. Just prior to news or anything like that because as a technical trader I don't need to. I trade what I see. The issue I've always had, or there's quite a few issues. I've always had a fundamental trading. From a practical point of view, depending on where you live in the world, some of the major market news announcements might be like 2:00 or 4:00 in the morning, not very practical for me living in New Zealand, if I'm looking at the European news or especially the US News, that's like, you know, sort of 11:00, 12:00, 2:00 in the morning type of things. Likewise, if you're in Europe or the US and you're looking at Australian news, let's say, oh, Japanese news, it's not at a very convenient time. And the other thing is from a practical point of view, is you'll find quite often brokers will increase spreads massively, Sometimes if price freezes around news announcements. So it's not quite all. It's like sort of talked up to be when you trade news. Different conclusions from the same news The other thing is also is if you look at a news announcement and I look at a news announcement, we could see the same news announcement and draw completely different conclusions because you might say, oh, it's way better than expected figure. Therefore we should be buying that that currency. I might say yes, better than expected. But last month they've dropped it all. There's been some commentary after that to say this is going to be, let's say, the last interest rate hike or something like that, which means yes, okay. But long term, it's not so good. So different people will see news announcements in different ways. So you got to be real careful there. And in all honesty, most big news announcements generally go in the way of the longer timeframe charts as a technical trader anyway, I can pretty much see most of the time which way news announcements are going to go by looking at, say,