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September 12, 2021
#427: How to Trade while on Holiday/Vacation
How 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 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.
September 5, 2021
#426: Why You Don’t Need Money to Trade
Why 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 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.
August 22, 2021
#425: Things to Know as a New Forex Trader
Things to Know as a New Forex Trader Podcast: Click here to learn more about Blueberry Markets Click here to Learn More About Echo Trade Copier #425: Things to Know as a New Forex Trader In this video: 00:22 – Are you brand new to trading? 01:01 – You can do well from trading, if you know where to look 01:58 – Start with a small demo account 03:53 – Choosing a good broker 04:40 – Echo Trade Copier is at +30.7% in 6 months 06:32 – Tips for new traders – find the right people 07:24 – We’ve helped over 3000 traders from 98 Countries over 12 years How do you start out as a brand new 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 425. Are you brand new to trading? And I want to make this video for you if you are brand new to trading or if it's something you're just looking at getting into and you don't really know where to start because the Internet's an absolute minefield. There are so much information out there online about Forex trading. Unfortunately, most of it's not particularly good, and most of it's written by people who are not really traders. So you got to be a little bit careful out there. And it's almost like if it's too good to be true, just don't go there. If it's all showing you flash cars and Ferraris and people sitting on their laptop on the beach, don't go there. You can do well from trading, if you know where to look But the good news is, is that you can do extremely well from Forex trading, but you just need to know how to get there first. So when you start out, it looks flashy. There's flashy results, there's flashy indicators, there's all these cool things. But just take it back a step and treat it real. I really encourage everybody to do research. Don't just jump in head first and think you're going to become a millionaire by next week, because you're not going to make that work. It's going to end very, very badly. Do not treat it as a gamble either. Now, if you think about starting something new, new sport, hobby, whatever it is, job, anything at all, you've got to start at the beginning and find someone to help you, coach you, and that's important as well. You've got to have support around you, and there's nothing better than basically to sort of fast track yourself by getting some good help and good support. Start with a small demo account Now when it comes to the charts, I would suggest that you get onto a demo account and you start with a small demo account. Don't start with $100,000 demo account because reality is, is that for almost everybody, you're never going to start with $100,000 live account, so don't start with a demo account of that size. It's just going to fall you and get you into a false sense of security. Look, I made that mistake myself 17 years ago. Back then, there weren't people like myself helping other people like you out there and giving you the realities of training. So I've made all the mistakes. Trust me. It took me about four years of going round and round in circles making these mistakes and I can help shortcut those for you. So when you get onto a demo, treat it like it's real money and try and work out what's actually happening in the market. Look at candles, what they're doing, what they're telling you. Look at correlation between different currency pairs. Look at the price on the right-hand side axis on your charts and just see where the price is moving to and why, where it's stalling, where it's changing around,
August 15, 2021
#423: Preparation is the Key to Your Trading Success
Preparation 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 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,
August 7, 2021
#422: It’s Your Choice
It’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 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.
August 1, 2021
#421: Knowing When to Trade
Knowing 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 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,
July 25, 2021
#420: Have You Received Your Inflation Bonus Yet?
Have 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 – 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?
July 11, 2021
#419: Trade When the Conditions are Right
Trade 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 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.
July 4, 2021
#418: Incredible Returns from Our Trading Bots
Incredible 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 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.
June 27, 2021
#417: Are Cryptos a Good Investment?
Are 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 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,
June 20, 2021
#416: How to Achieve Time Freedom
How 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 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.
June 13, 2021
#415: Get a copy of our Traders App
Get 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 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...
June 6, 2021
#414: It’s Time to Get Real
It’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 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,
May 30, 2021
#413: How to Increase the Reward:Risk of Your Trades
How 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 – 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,
May 23, 2021
#412: Achieving Great Trading Results
Achieving 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 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 [email protected] 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.
May 16, 2021
#411: Can I Borrow $800k from You for 3 Months?
Can 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 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.
May 8, 2021
#410: 12 Years of Helping Traders, Will You be Next?
12 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% 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,
May 2, 2021
#409: My Aims & Goals as a Forex Trader
My 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 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.
April 25, 2021
#408: I Love Following Your Daily Trades
I 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 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...
April 17, 2021
#407: Trading the FX Market Hands Free
Trading 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 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.