Created with Sketch.
Online Forex Trading Course
6 minutes | Jun 26, 2022
#461: Protecting Your Future from What’s Coming
Protecting Your Future from What’s Coming Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #461: Protecting Your Future from What’s Coming In this video: 00:24 – You and your future 00:52 – Governments don’t really care 01:29 – Record inflation globally 02:27 – Tough for small businesses 03:47 – What can you do to future proof yourself 04:50 – Cryptos are getting smashed 05:08 – Get onto one of my webinars It's time to start thinking about protecting yourself and protecting your future. Let's talk about that more right now. Hey, traders. It's Andrew Mitchem, here at the Forex Trading Coach with video and podcast number 461. You and your future I want to talk about you, your future, what you're going to do about it to protect yourself and your family. You see, there's a lot of scary things happening in the world right now. Depends what you believe. It depends if you believe that all these long-term agendas are real or not, and how it may or may not affect you. I'm going to leave that up to you to decide. I've got my personal opinions on that. Governments don’t really care And it's out there for everybody to do their own research, but what's for sure is that governments around the world don't really care about you. And I think that's quite a fair statement. The last two years around the world have shown that with enforcements, with mandates huge record expenditure, and that's coming through now, that will affect everybody regardless if your beliefs, politically, or medically, or what you think agendas are coming. Without any question, what's happening right now and going forward will affect everybody. Record inflation globally You see, we're getting record inflation around the world. Prices going up. Food prices going up. Shortages. If you've got a better land, start planting, start looking after yourself. Record fuel prices, shortages of those, shipping costs, electricity shortages, and costs, being forced to go certain ways if you drive vehicles. All these type of things are quite scary for the way that everyday life has been affected. You add onto that high interest rates and lightly only to get higher. So your costs are going up, your mortgages are going up. Any loans, debt that you have is getting more and more expensive. So you put all that together and you probably treading water all going backwards, and again, lightly to get worse. Tough for small businesses Small businesses, it's harder and harder for people to employ people with rules, regulations, increase, labour charges. Today in New Zealand, we have a public holiday today that's never been had today. It's the first time of this public holiday. Our government created it a couple years ago, and today it's a public holiday. It's estimated, from what I've seen and read, to cost the New Zealand economy $440 million today in businesses needing to pay staff time and a half, loss production, all those type of things. Well, if you are a worker, fantastic, you get yet another day off. But probably most people, through various things that have happened in the last year, have had so many days off anyway with coughs and sneezes and public holidays. But think of it from the business owner's point of view and the economy's point of view. Yet more costs, yet less production, yet more stress on the owner. And all of these things are accumulating. Like I said, if you are the worker, great. If you are the business owner, and you're thinking about this from a bigger picture economy, point of view, not so great. What can you do to future proof yourself So what can you do about this? Because I see quite a uncertain future for a lot of people. And future proofing yourself, and for me using Forex to do that is a big part of what I do. You see, you've got to start somewhere. And think of the analogy of when was the best or when is the best time to plant a tree. Well,
6 minutes | Jun 19, 2022
#460: A Week of Rises and Crashes
A Week of Rises and Crashes Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #460: A Week of Rises and Crashes In this video: 00:25 – Outside in the middle of winter 00:40 – Massive moves in the markets this week 01:30 – Crypto’s are crashing 01:55 – What does this mean for us? 03:15 – Client makes +105% since April (in just 10 weeks) 03:54 – Blueberry Markets offer loss refunds 04:54 – Movements provide us with great trading opportunites 05:33 – Feel free to contact me directly It's been a week of rises and crashes. Great opportunities for us in the Forex market and in the crypto market. Let's talk about that and more right now. Hey, traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 460. Outside in the middle of winter Wanted to get outside. Beautiful, crisp winter morning here. Not sure if you can see the snow behind me, but we've got a good dusting of snow on the mountains behind. And it's just a beautiful time to be outside. I'm hoping to go for a flight at the weekend and go and check out that new snow. Massive moves in the markets this week But back to the charts. Well, what a week it's been. Just massive rises, massive crashes, depending on what markets you're looking at. With the interest rates around the world, last week, the Australians put theirs up by 0.5% or 50 basis points, expected to be 0.25. This week we've had the US, expected to go up by 0.5, went up 0.75, but the US then crashed, which is not what you'd expect, which is why we look at charts and not the news. The frank, when we were holding our live webinar last night, they put theirs up, expected zero change. It went up 50 basis points and the frank went massive, went through the roof. And then the British put theirs up by 0.25% as expected. Crypto’s are crashing Right now, Bitcoin, if you go back six weeks ago, back into the end of April, Bitcoin was about 40,000 US dollars. Today it's approaching 20,000. It's almost down to 20,000 as I'm recording this. Ethereum, a month ago, 2,200, today, 1,100. It's halved. It's crashed. It's dropped by 50% in a month. Just unbelievable. What does this mean for us? What does it mean for us though? As traders, it means opportunity. There are opportunities everywhere with movements in the markets. And the thing is, it doesn't matter whether I'm expecting the US to go up because they put their interest rates up and it went down, because on the charts, we were looking to sell the US anyway. And that's exactly what happened. It doesn't matter that Bitcoin and Ethereum are crashing, because we can sell them. When we see opportunities to sell, we can do that. In fact, about half an hour before I've started recording this, we've just taken a 12 hour sell on Ethereum because it's pulled back a little bit yesterday and now it looks like it's dropping again. Great opportunity to drive it down again and get out before the last swing low. So opportunities everywhere. Forget the news. Just trade what the charts are showing you. And there are so many great opportunities because of course, we can go long and short. We can buy and sell. It's not like we bought Bitcoin at 60,000 and spent $60,000 on a Bitcoin and now it's worth 20,000 and we're all going, oh my gosh, we've just lost 40,000. Not like that at all. It's complete opposite. We're just buying and selling it depending on what we see at the time on the charts. I'll give you an idea. Client makes +105% since April (in just 10 weeks) A client of mine who has used our breakout strategy, which is a strategy that we use just once a week, he's adapted it onto different currency pairs. And he's sent me his myfxbook link. He's up 105% since April. And we are now the 16th, 17th of June. So, in what's that? 10 weeks, he's up 105% on his account. He's had a 12% draw down. That's all he had, and 105% gain.
6 minutes | Jun 12, 2022
#459: Why I Trade Using Candle Patterns
Why I Trade Using Candle Patterns Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #459: Why I Trade Using Candle Patterns In this video: 00:26 – Why I use candle patterns 01:01 – Brokers offer you multiple indicators 01:41 – I deleted everything and started again 03:13 – Not all candles are equal 04:08 – Candles show you what’s happening in the market 05:05 – Blueberry Markets as a good broker option I'm going to explain why I trade using candle patterns. Let's talk about that and more, right now. Hey, traders. This is Andrew Mitchem here at the Forex Trading Coach with the video and podcast number 459. Why I use candle patterns This video is really important because it explains why I use candle patterns and why I believe you probably should do too, and how it will massively help you with your trading. You see, there are different ways of trading. You can be a fundamental trader, where you're predominantly looking at news events, political events, those type of things, or a technical trader. I'm a technical trader. But even when you become a technical trader, there are still so many different ways of trading. And most people unfortunately get caught up in the hype and the glitz and the glamour of too many indicators. Why I use candle patterns You see, the Forex brokers are very, very good at offering you just an enormous basket of indicators. And everybody makes the same mistake when they start trading, as they think they are going to find this magical formulation of indicators that no one else has found. There's a magical combination, the right settings, that just no one else in the history of trading's ever discovered before. And this is what's going to make it work for you and why you should have lines all over your charts. Look, I fell for it years and years ago as well. And it's something that pretty much everybody who decides to be a technical trader will do so at some stage in their trading journey. So it brings me back to candles. I deleted everything and started again The reason that I became profitable is I got rid of all that mess on my charts, all those lines and arrows and stars and all those different things. You know what I mean if you've been trading with any form of indicators in the past. And I got back to candles. Why? Well candles tell me what's happening in the market. They tell me where the price has reached to as a high, where it's been as a low. So therefore natural support and resistance levels. It tells me there's momentum. Is it moving upwards? Is it moving down? Is it indecisive? It tells me, when I look at what part of the chart the candle is in, whether there's room to move. Do I have the ability to get to my profit target before hitting resistance levels as buy trades? And also the thing that so many people fail to do is they fail to look at the actual price. Now we're trading Forex pairs, or you might be trading commodities or cryptos, whatever it might be. If you don't look at the price on the right hand side of the chart, then all you're doing is basically following lots of squiggly lines on your charts if you're a technical trader, with too many indicators. You have to look at the right hand axis of your chart and look at the price. Why did that candle get up to that level? Oh, it's because it was a round number. Oh, look, it happened several candles ago, or several days ago, or weeks ago, it hit that level and it reversed. And so all those type of things are really important for you to consider when you're trading with candles. Not all candles are equal Now, another great thing with candles is, like I've said, they can show you indecision. They're not all equal. They're not all saying you have to buy here or sell there. You could be in an up trend and all of a sudden there's an indecision candle. And that then gives me two messages. One, if I'm already in a buy trade,
7 minutes | Jun 5, 2022
#458: How Much Can I Make from Trading?
How Much Can I Make from Trading? Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #458: How Much Can I Make from Trading? In this video: 00:24 – How much can you make from your trading 00:59 – Made a +1.5% gain during the live weekly webinar 02:03 – What if I had risked more? 03:35 – If you want to trade for Prop firms 03:50 – Being self-employed and being an entrepreneur 04:53 – We’ve never missed daily trades or webinars 05:10 – The next tennis great? 06:17 – Take a look at Blueberry Markets How much can I make from my Forex trading? It's a question that people ask me all the time. Let's talk about that a more right now. Hey traders, it's Andrew Mitch here at the Forex trading coach with video and podcast number 458. How much can you make from your trading Question I get asked all the time is, Hey Andrew, how much can I make? And when you think about it's such an open ended question. It has so many variables in his answer that you can't actually give someone a real answer. What I can say is that it comes down to your dedication, your hard work, how much risk you take, what type of trader you are, what strategy you trade. There's lots and lots of variables, far too many to talk about on here. But I'm going to give you a few general ones. Made a +1.5% gain during the live weekly webinar Here's a great example for you just last night on my live webinar, where I hold with my clients, I ended up making a 1.5% account game. I took trades on the U.S., Singapore dollar 2 hour chart, U.S. Swedish Croner 6 hour, the German 30 index, 6 hour, and the U.S. dollar index 6 hour. I actually had a buy trade that hit profit on silver against the U.S. on one hour chart in the session as well, but not including that one, because that was taken before we went live on the live trades that I took, that my clients could have followed copy taken. I personally made a 1.5% account gain, but I was only risking a quarter of 1% risk of my account, total per trade. Very, very small risk per trade, fantastic gains. And the reason I'm telling you that is when people say to me, Hey, what can I make? I go, well, I made 1.5% last night and they go, that's okay. That's not great. It's not exciting. Think of it this way. What if I had risked more? If I risked 2 1/2% risk per trade 10 times what I risked, I would've made a 15% account gain in the night on the webinar in just two hours. Start thinking about that and you go, wow, that's actually really impressive. A lot of people out there will tell you if you have a look on internet land and YouTube gurus and everybody else out there online that tells you how to trade. So many people will tell you should be risking up to 5% risk per trade. Let's imagine if I did that, I would've made a 30% gain on my account just in the one night. And the danger of that is that so many people then get really excited when they hear 15% gaining in a day or a night, just on two hours or 30% even. And people get the wrong side of it and they go, wow, that's just amazing. 30% in two hours. Where else can I do that? And while that is true, it all comes back to risk. And to me, you are far better off having that low controlled risk and being a consistent trader than you are to go 30% but 5% risk trade. It all depends on what suits you but my suggestion is you go low risk trade. The trade is still the same, but it's just that you are got so much more control there and consistency becomes such an important part of your trading. Now, if you are at 30% gain, but you risk 5% trade and a few trades go wrong, not quite so good. If you want to trade for Prop firms If you want to trade for prop firms, you've got to go low risk per trade because they're interested in making sure your draw downs are very low. And that's why so many of our clients are doing really well on prop firms.
8 minutes | May 29, 2022
#457: My 5 Trading Tips to Improve Your Results
My 5 Trading Tips to Improve Your Results Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click Here to Download my Lot Size Calculator #457: My 5 Trading Tips to Improve Your Results In this video: 00:35 – #1 Understanding Risk Management 02:26 – Download my Lot Size Calculator 03:02 – #2 High Reward:Risk Trades 03:59 – #3 Focus on a few Candle Patterns and Time Frame Charts 05:25 – #4 Forget Social Media and time wasting 05:57 – #5 Seek high quality trading education 07:22 – Bonus #6 – Blueberry Markets I'm going to give you five tips that will massively help change your trading results around. Listen up for those five tips right now. Hey, trader. This is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 457. In this video and podcast, I'm going to give you five things that you can do right now today that will massively help change your trading around. Let's get into those. #1 Understanding Risk Management Number one, you need to understand risk management. Everybody wants to see all the flash side of trading, all the results, et cetera. But in order to trade properly, you have to understand risk management and have to know how to control your risk. Because ultimately, one of the keys to staying in business and trading properly and trading long term is understanding controlled risk. And it's all well and good when you see people that say, "Hey, look, I made $100,000 in a month and I doubled my account in two weeks." None of that really counts. It's all just one-offs, if at all it's true. But the important thing for you, because there's two things I always say to people who are new that control your trading. One's up here, one's your head, the other's your heart. You've got to get those two under controls, to your emotions, psychological, all those type of issues under control. And to do that, you have to have low and controlled risk per trade. Now, most people out there all still, despite all these years of me banging on about don't do it, people will still talk in pips. Forget pips. They will get you nowhere. They will not assist your trading. Do not worry about how many pips you make, lose, risk or anything like that. It does not matter. You try going down to the local shop and supermarket and go and buy something in pips. You cannot do it. Never have been able to, never will be able to. What you have to do is yes, you can measure number of pips you're taking on a trade, but that then has to relate to your position size. And so, it's your position size that's the key to your trade. And what that means is, if you use the right position size on each individual trade, you can trade all timeframe charts, doesn't matter what the stop-loss is. Doesn't matter what the currency period is, whether it's a crypto or FX or metal, it does not matter. Download my Lot Size Calculator Understanding that is very important. I have a Lot Size calculator that will help you with that. If you don't have it, I will put link on this video and podcast somewhere for you to get it. It works on MT4 and MT5. You simply drag it onto the correct chart that you're about to trade. It knows the account size that you have. It knows the trade that you're about to take in terms of the currency. All you do is enter the risk that you want to take, and I recommend no more than half of 1%. And you enter the stop-loss of the size of the trade. It will tell you the lot size needed or the position size needed for that trade. Understanding risk management, number one, key. #2 High Reward:Risk Trades Number two, understanding that high reward to risk trades will be your friend. That is the way that you are going to make small little step back, big step forward, little step back, big step forward. That's how you grow your account is by having high reward to risk trades. You see people that go, "Hey,
6 minutes | May 22, 2022
#456: Trader makes +7.25% gain trading the 15 minute charts
Trader makes +7.25% gain trading the 15 minute charts Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #456: Trader makes +7.25% gain trading the 15 minute charts In this video: 00:35 – One of our clients makes +7.25% account gain in the week 01:20 – We only look for a trade at the close of a candle 01:54 – We don’t only trade the longer time frame charts 02:55 – Trade what suits you 05:05 – Take a look at Blueberry Markets 06:11 – Future trading topics One of our coaching clients made 7.25% account gain last week, trading only the 15 minute timeframe charts. Let me explain about that and more right now. Hey traders, this is Andrew Mitchem here at The Forex Trading Coach, with video and podcast number 456. Something a little bit different this week, and I mentioned it at the end of last week's video and podcast, and I've had a lot of people saying they're really wanting to know more about this. One of our clients makes +7.25% account gain in the week I talked about a client who just the previous week made 7.25% on his account. On the previous video, I think I was mentioning he made about 8.5%, I think it was, but he actually had a losing day on Friday when I made last week's weekly video. So for the previous week he ended up, of the five trading days, he lost Friday and made four profitable days Monday through to Thursday, for a total net gain of 7.25% trading with only very tiny risk of a quarter to a half percent risk per trade. And he did that by trading between 45 minutes and one and a half hours per day on only the 15 minute timeframe charts. We only look for a trade at the close of a candle And the great thing with the way that we trade is you only look at the candle close. And so you know that if you're trading for 45 minutes a day, he could have looked at four different timeframe charts, or four different closes. And if he was trading for an hour and a half, he had six closes on the 15 minute timeframe charts to look at. So he did that for the five days for a 7.25% account gain, only on the 15 minute timeframes. And when you think about that, that's pretty good. We don’t only trade the longer time frame charts And a lot of people think that we trade just the longer timeframe charts. And personally, I tend to trade two hours and above, that's just what suits me. But the great thing is from your point of view, is that our strategy works. And from our client's point of view, the strategy works. And what that means is you have the ability to trade whatever suits you. Just because I'm now explaining about a number of our clients that are now jumping onto 15 minute timeframe charts, doesn't mean to say you should go and do that, but only if it suits you. Likewise, if I'm talking about trades on 12 hour charts or daily's or weekly's, or even monthly's, don't just jump onto those timeframe charts if they don't really suit you. On those, you've got to be prepared for them to be in a little bit longer and just let them do their thing. On a 15 minute timeframe chart, you're going to be expecting really that you have to dedicate an hour or so per day and sit and watch those closes four times within the hour. But it just shows what can be done. Trade what suits you And that's the important thing, it's trading what suits you. But also, it's trading what the market's giving you. If you want to trade 15 minute timeframe charts, and you say, look, I'm going to dedicate one hour a day to do this, look at four times, don't feel that you have to take lots and lots of trades just because you're trading short timeframes and you're there for that one hour. You've got to trade when the setups are there. And that can be shown through in the results that the clients are getting. And with this guy making 7.25% gain in just five days, what he's doing is he's actually taking most of his trades which are continuation trades.
6 minutes | May 15, 2022
#455: Are You Still In Love with the Crypto Markets?
Are You Still In Love with the Crypto Markets? Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #455: Are You Still In Love with the Crypto Markets? In this video: 00:26 – An Incredible Week in the Crypto Markets 00:57 – Billions wiped off the market in the last day 02:12 – 401k becomes the 301k in the US 02:40 – All is not lost 03:00 – We can buy and also sell Cryptos 04:23 – Are you looking for a good broker? 05:47 – Next week, how a client has made +6% gain in the week on the 15 minute charts Are you still in love with the crypto markets, or has that love disappeared? What an interesting week it's been. Let's talk about this and more right now. Hey traders, Andrew Mitchem here at the Forex Trading Coach, with video and podcast number 455. An Incredible Week in the Crypto Markets As a crypto trader, if you're into cryptos, what a incredible week this has been. Probably not that great if you're a traditional way of trading the crypto markets. I was going to be talking about short timeframe charts this week. We've had one of our clients taken 15 trades this week on the 15 minute charts, and he's up over 6%. But I'm going to cover that next week because I really want to talk about cryptos being so topical right now. Billions wiped off the market in the last day So, what's happened? Well, billions have been wiped off the crypto market just in the last few days. Ethereum has plunged by 20% in the last day, in the last 24 hours, 20%. Bitcoin in the last day is down 11%, and 200 billion has been wiped off the crypto market in the last day. 200 billion, with a B, dollars. Incredible. That's just in the last day. LUNA, it's called ADA/USD, if you see it on your charts, it's called LUNA. It's down 99% in the last 48 hours. I've just looked at my charts. If you went back to the 5th of April of this year, just over a month ago, it was at $119, 5th of April. Today, 13th of May, it's been as low as 0.001 of a dollar. I think that's a 10th of 1 cent. So it's gone from that on the 5th of April, $119, to today, 13th of May 2022, 0.001 of a dollar. That's incredible. 401k becomes the 301k in the US I've also read an article regarding the US Retirement Funds, called the 401(k), which they call it over there. I've seen people now calling it the 301(k), a bit of tongue in cheek, but the reason they've done that is because 7 trillion, with a T, $7 trillion has been wiped off the stock market just this year. And we're not even in mid-May, so it's not looking great, is it? All is not lost But as always, we try to find solutions to these things. It is not all doom and gloom if you learn to trade your cryptos or your other markets the way that we trade, and to trade them with the leverage through the Forex markets or through the Forex brokers. The reason for that is quite simple. We can buy and also sell Cryptos We can buy and we can sell. We can go long. We can go short. And we can do that on cryptos as well. So for example, if you saw Ethereum or Bitcoin or even LUNA dropping, and you saw a reason to take a short position or a sell, we can jump straight into the market, or a limit order, a stop order, whichever you want, but you can get into the market and you can sell that crypto. And that is the difference with this, as opposed to going out there and mining, or going out there and spending what was last week about $46,000 for a Bitcoin. Today, it's about 26,000, but you're not actually going out there with that money or investing that amount of money. And you're not with the traditional way, I say traditional, obviously cryptos are quite new, but with the way that most people trade cryptos is you're out there just buying something hoping it's going to go up. Not much good if you've bought LUNA at $119 about six weeks ago, and you thought, oh, I'll just go and buy LUNA at $119. Let's say you bought a hundred of them. Today,
8 minutes | Apr 24, 2022
#454: Amazing offer from Blueberry Markets
Amazing offer from Blueberry Markets Podcast: Find out more about Blueberry Markets – Click Here Find out more about my 13th Birthday Sale #454: Amazing offer from Blueberry Markets In this video: 00:24 – Easter break 00:54 – Broker offers a great incentive 02:30 – Inflation continues to soar around the world 03:42 – How much has your wage increased in the last year? 04:27 – What are you doing to future proof yourself? 05:45 – Click on the link to join Blueberry Markets 05:56 – Join us at The Forex Trading Coach 07:16 – 11 trades posted today for our clients to learn and earn from I found a broker for you who is willing to refund some of your losses on your live account. Let's talk about that a more right now. Hey traders. This is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 454. Easter break Hope you had a great break over Easter. We had a really good time where we had spectacular weather here in New Zealand, and we took advantage of that, myself and my wife, we flew down to Dunedin, which is close to the bottom of the South Island. I did nearly eight hours of flying in the helicopter, for the week, and I had a great time. So I hope you had a great break too. Now, something different, a number of things to discuss with you on this week's video on podcast. Broker offers a great incentive The first thing is, I was talking to Ben Clay, over at Blueberry Markets, last weekend. He's put together a really fantastic offer, which I've never really heard of before. And I thought I'd just share that information with you. If you open a new trading account with Blueberry, between now and the end of April. So you've only got this week to do this. And if you fund it with a minimum of $200, they will refund 20% of any losses that you have on your account. So just check with them the exact terms and conditions. Say that you've seen this video or heard this podcast, and you're interested in their offer. But I've I heard of a broker before, that's willing to refund a proportion of the losses that you make. So it could be something that's really worth having a look at. Now, I think there's some terms and conditions. Like always, you cannot be an existing client with an existing account, and you cannot be in Australia or an Australian resident. So there's a few things to check through. But it has a lot of merits, that if you opened, let's say, a $1000 account and took a loss, they're going to offer to refund. And again, there's maximum levels of refund, et cetera. They're going to offer to refund, I think there's up to 20%, of your losses back to your account for you to use. So something very different. As I was discussing with Ben, I said, "Look, I think this is something quite different. I'm going to share this with people who are on my video and podcast list." So I hope that's helpful for you. Inflation continues to soar around the world In other news, you'd have seen that inflation continues to rise around the world. Here in New Zealand, just yesterday, they announced a 6.9% inflation jump, which is the worst or the highest in 32 years. And that's continuing to happen right around most of the world. I think Britain was up to about 7%. I think America's eight something. A lot of countries around the world are getting very, very high inflation levels. From what I can see, certainly here in New Zealand, the way that they're just printing money and spending money, left, right, and centre, you just wouldn't believe how crazy they're running the country right now. This is probably only going to get worse. You add into this, the fertiliser cost, the shipping cost, food, transportation, everything else, labour wages, everything that's going wrong with price increases right now, fuel, all et cetera, it's just going to get worse. So if you think the 6.97% is bad today. Yes. It's the worst in 32 years. But I'm predicting,
7 minutes | Apr 10, 2022
#453: Seeing Through the Chaos of The Forex Market
Seeing Through the Chaos of The Forex Market Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #453: Seeing Through the Chaos of The Forex Market In this video: 00:25 – The markets are just chaos 01:17 – Doing nothing could be the best thing to do 01:57 – Traded the H8 and H12 charts instead 03:11 – We help our clients to demystify the charts 04:24 – You have to be able to act on what the market is telling you in real time 05:45 – Time to join us? 05:51 – Are you looking for a good Forex broker? 06:42 – How you can contact me How can you easily see through the chaos that is the forex market? Let's talk about that and more right now. Hey, traders. It's Andrew Mitchem here at The Forex Trading Coach. This is video and podcast number 453. The markets are just chaos Now, the markets are just chaos. That's really what they are. Lots of lines, lots of different indicators, lots of confusion going on, different timeframes, different currency pairs, different system strategies, just utter chaos. But as a trader, you need to be able to see through that chaos to actually read on the charts what is actually happening, and think, "Well, behind the scenes, what are these charts telling me is happening right now?" Are there more buyers in the market? Are there more sellers in the market? Is this a trade to take or not? How do I know which currency pair to look at? How do I know which timeframe chart to look at? What happens if the MACDs telling me to buy and the RSIs is telling me to sell? All those type of things. Utter, utter chaos going on in the market. Doing nothing could be the best thing to do And sometimes, the answer is to do nothing. Give you an example, just today, right now. The 8th of April on the daily charts, we have taken no trades today on the daily charts. Why? Because there are no good setups. We've been through all the forex pairs, all the metals, the indices, commodities, cryptos, everything. I do not see a single trade today on the daily charts. So, therefore, we've not taken any. We've had a great week so far. We've had four really good days of trading and had some good trades. And therefore, the answer today or the solution today, the strategy is do not take any trades because there are none. Traded the H8 and H12 charts instead However, we're still taking two trades, one on the eight-hour Euro-Aussie and one on the Euro-Hungarian forint on 8-hour and 12-hour that we posted on our membership site for our clients to trade and to learn from. Why? Well, because out of all the different currency pairs, all the markets, all the timeframes, at the change of day leading into Friday the 8th, those are the only two setups that I see on the charts that are suitable to trade the strategy that I trade. And therefore, those are the only two that we've passed onto people. Why are they good? Well, they have the candle pattern that we look for. They're bouncing at the right area that we're looking for. They have some stop-loss protection that we're looking for. They have room to move. They're both sell trades. They have room to move before any next support gets in the way, any previous lows, pivot points, middle Bollinger Bands, all those type of things. So, we see on those two trades, are high-probability setups, and therefore they are the two we've taken. So, we've looked through of all the chaos, we've seen through all the chaos, the different lines, graphs, prices, everything that's going on, strength and weakness on the markets. And we've come to the conclusion that they are the two best trades. So, that's how we help our clients. We help our clients to demystify the charts We help demystify. We help you to see through the chaos that's out there. And we say, "These are the trades that we are taking," and why. And when you think about that, having that ability to follow along with someone and look,
8 minutes | Apr 3, 2022
#452: How to Make Great Returns if You Have a Small Trading Account?
How to Make Great Returns if You Have a Small Trading Account? Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #452: How to Make Great Returns if You Have a Small Trading Account? In this video: 00:31 – How to make excellent gains with a small account 00:49 – The incorrect perceptions 02:07 – Questions from traders 04:00 – Losing traders blame the market 04:26 – What can you do differently? 05:06 – Trading on a prop firm account 06:08 – How much money do you need in your account right now? 07:11 – Choosing a Forex broker I'm going to explain how you can make fantastic returns from your trading, even if you only have a small trading account today. Let's talk about that and more right now. Hey, Forex traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 452. How to make excellent gains with a small account And I want to explain all about how you can make some exceptional gains and returns through trading the Forex market even if your account is very small. And ultimately your account size today does not matter, but let me explain more. The incorrect perceptions You see the problem is most people think you need a large account in order to trade and to make money from trading and eventually to make a living from trading. But there's more to it than just that. And let me explain what I mean. You see the issue that I see everywhere is that so many people get into trading with unrealistic expectations, and they might come to the market with a thousand dollars account or $5,000 account. And they think they're going to be able to live on that. And of course you can't. And so therefore to try and make some meaningful money out of that, they start doing silly things. They'll start scalping the market, trading, making a pip or two on one minute or five minute charts. Some people will try news trading. Some people will try what called Martingale, which is when you basically double your position size all the time. And eventually one of those trades will win and make up for all the losses. Some people trade without stop losses. All these kind of crazy things that people do, which is incorrect trading, but they do it because they have a small account size to start with. So you can see the issue that people have. Questions from traders And I get questions all the time from people and they say, "How much do I need to pay for your course? Things like that. And people then come to me and go, "Well, how much am I going to make?" And I'll give you a great example. Right behind me here. I've got a US Singapore 12 hour chart trade open. Okay. So I've got three trades open on my account behind me. They're all on the 12 hour charts, all took yesterday, all on our membership site, all posted. And I've had three trades close, three still open. If I close them all right now on those six trades, I'll be up 1.8%, but I've only risked a quarter of 1% on each of those six trades. So I'd be up 1.8% if I close them right now. I'm not going to because the three still open have got a little way to go to profit. I'll probably be up around 2-1/2% total if they all hit their profit target for the six trades, quarter percent risk per trade. Now some people looking at that and go, "2-1/2%, that's not very exciting." I look at that and go 2-1/2%, but with only exceptionally small risk per trade is incredibly good trading. But I could quite easily say to you here now that I've risked 2-1/2% per trade instead of a 0.25%. So I've risk 10 times the amount. And I could then go and say, "Well, if these trades hit profit, I've made 25% in a day." And that would be true. But the issue is is that my risk is 10 times greater. So therefore my gain, because I'm a profitable trader, is also 10 times greater. But you see the issue where most people who don't know how to trade is they'll start risking 2-1/2% of their ac...
7 minutes | Mar 27, 2022
#451: What is the Best Time Frame Chart to Trade?
What is the Best Time Frame Chart to Trade? Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #451: What is the Best Time Frame Chart to Trade? In this video: 00:26 – The best time frame chart to trade? 01:31 – Even more time frame charts now available on MT5 02:08 – How I analyse the market each week 03:14 – Trade only at the close of a candle 03:42 – Trade at 5pm EST New York Time 04:21 – Where is the best candle pattern showing? 05:25 – Have a look at Blueberry Markets when looking for a broker 06:35 – Subscribe and share this video What's the best timeframe chart to trade? You've got so many options now, and it can be very confusing, so let me help you with that and more right now. Hey, traders, it's Andrew Mitchem, here at The Forex Trading Coach with video and podcast number 451. The best time frame chart to trade? And I get asked the question every week, "Andrew, what's the best timeframe chart to trade?" And that's it. People get very confused. They want to know the best. The answer is really there is no one best timeframe. But as a trader, I believe that you need to look at multiple timeframe charts. Now, the issue that a lot of people have is they might be seeing a potential buy trade on one timeframe. And you might have seen a down trend and the trend looks like it's reversing. The market looks very oversold, and you're thinking, "I'm looking for opportunities here to buy it back up again." And that may be on, let's say, a one hour chart. And then you go to a four hour or six hour daily chart, and it's clearly in a down trend. And you're going, "Oh, but I'm now looking at this being overboard and it looking like it's going to fall. But when I click through to a different timeframe, it looks like it's going to start rising." And that complete confusion and you're not really sure what's happening in the market. Even more time frame charts now available on MT5 And I suppose now with MT5, if you're on MT5, you now have the option of far more built in timeframe charts that MT4 never offered. As an example, you can trade two hour, three hour, 6, 8, 12 hour charts that on MT4, they were never there a standard timeframe charts. And so potentially this leads to even more confusion for people because they got even more timeframes to scan through and you can even go down to the number of minutes on MT5 as well. By the way, I suggest that you don't trade anything shorter than a one hour chart ever. It's just not worth it. So you can see the confusion that people have there. How I analyse the market each week So for me, when I analyse the market each week, at the beginning of each week, I go through the weekly charts and I look at the anticipated strengthen and weaknesses on different currencies and the currency pairs. In other words, where I'm seeing on the bigger timeframe, likely movement up or down for that week. I do the same each day based off the daily charts as well. So I say that within the day, the next 24 hours, the euros looking really strong and the U.S. is looking really weak. Therefore, the Euro, U.S. dollar, I'm anticipating it's going to go up. Doesn't mean to say, I'm just simply taking a buy trade, but it means to say that I'm preferring buy trades if I see them. If my weekly analysis suggests that the Euro, U.S. is heading up and my daily does, then I'm really ideally focusing on looking for buy trades on the Euro, U.S. on maybe a 12-hour chart or four hour, whatever it might be that you are trading, still according to your candle pattern. But you can see the issue that people have with the confusion of different timeframes and what they're saying. Trade only at the close of a candle So I think it's also really important that you only trade at the close of a candle as well. That stops a lot of the confusion. And at that time everything's set.
9 minutes | Mar 20, 2022
#450: All the Trading Tips You Need to Be a Successful Trader
All the Trading Tips You Need to Be a Successful Trader Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #450: All the Trading Tips You Need to Be a Successful Trader In this video: 00:36 – Great feedback from my weekly videos and podcasts 01:13 – What’s kept me trading? 02:40 – You make it look easy 03:49 – I love trading the Forex market 05:11 – 3 trades and all 3 hit the profit target 05:55 – Valuable content for you on my videos and podcasts 06:49 – Prop firm trading success stories 07:49 – Choose Blueberry Markets and MT5 08:36 – Contact me for future trading topics If you're the sort of person that wants to learn how to trade a very low risk and consistent way of trading the Forex market and other markets, I really encourage you to go and review many of my previous weekly videos and podcasts, just like this one. Let's talk about that and more right now. Hey traders, it's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 450. Great feedback from my weekly videos and podcasts We've reached another milestone. I really love bringing these weekly videos and podcasts to you and I love the feedback that we get because it helps so many people. Now, I first started trading back in 2003, a long time ago now. Back then there wasn't really a great deal of information out there, especially related specifically to the Forex market. If I was learning about different indicators and chart patterns, it was mostly stock-related and I put it into the Forex market and I found that most of it didn't really work particularly well. What’s kept me trading? But over the time you kind of develop your own things. I get asked all the time, "Andrew, why are you still trading right now and what's kept you going through all that time?" Because when I look back at other people who were trading back when I started, almost none of them are still trading today. So I'm really proud of our longevity and our consistency. To me it's the consistency that is the key; as a person, as a trader, as a company. So as a trader, I find so many people come to me and they say, look I want to become your best student. I want to become the best trader. I want to become a money manager. I want to become all these things. They give me all these emails for about a week or two and then they don't take action or nothing happens. They go quiet. It's like, well I suspect you've been on Google and you've learned Amazon drop shipping, or you're going to create e-book marketing or you're going to create something else. That becomes the biggest issue I find with so many want-to-be traders. Without sounding rude people traditionally, most people, are quite lazy. People want things handed to them. You have to be able to do the work and you have to be prepared to do that hard work upfront. You make it look easy It's all well and good to say, you make it look easy. But that's because I've had years and years of going through that hard work process and that consistency to get to this stage. I bring it back to flying the helicopter that I fly again. When I was learning it was an utter nightmare. It's so hard to learn how to fly a helicopter. But you watch someone who's been doing it all the time and they make it look so easy. It's so natural to them. It's only because of their dedication and hard work and perseverance and investment in time and in themselves and their learning to get to become a good, safe operator of a helicopter. And trading the Forex market is no different. So if you want to learn how to trade properly, invest in yourself, invest in your time, be prepared to do some hard work upfront. Be prepared for the ups and downs, the rollercoaster, that will inevitably happen. But stick with it. You've got to have enjoyment in it. I love trading the Forex market I love trading the Forex market.
8 minutes | Mar 13, 2022
#449: How Are the Fuel Prices Where You Live?
How Are the Fuel Prices Where You Live? Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #449: How Are the Fuel Prices Where You Live? In this video: 00:29 – Russian invasion of Ukraine 01:06 – Massive global inflation 01:48 – The price of fuel 02:56 – What can you do about it? 03:33 – Trading is one of the best ways ahead 04:14 – Fast tracking your trading income 05:09 – Clients making great returns via Prop firms 06:20 – Crypto trades make us +7.1% gain in 1 day 07:22 – Blueberry Markets are my broker of choice The Russian war is affecting everybody, but let's see how you can protect yourself from its downside effects. Let's talk about that a more right now. Hey traders, this is Andrew Mitchem here at the Forex Trading Coach for video and podcast number 349. Russian invasion of Ukraine Well, obviously the Russian invasion of Ukraine is getting massive international news right now. And it doesn't really matter whether you live in Europe and it's relatively close by. You may even be in Ukraine itself. And obviously it's a massive issue, or you could be in the US or South America, South Africa, Australia, New Zealand, you could be thousands and thousands of kilometres away from physically being there, but it still has an effect on all of us. Massive global inflation Now, over the last couple of years, obviously with the incredible amount of spending that governments have done around the world through handouts and cost of COVID, there's all these massive, massive costs that have built up and there's not been so much production. What we've obviously seen over the last sort of, well, part of this year so far, is inflation going to massive record level. And now you add on top of that, the issues that have been created with supply chains and oil and gas prices from the Russian invasion of Ukraine, and you're getting like a double whammy. The price of fuel Now, I know here in New Zealand, the price of fuel is just going through the roof. I know I put a lot of fuel in the helicopter to fly. The price has gone crazy. Obviously, for shipping here, everything has to be brought in because unfortunately no longer do we make anything here. So everything has to be brought in. The cost of international shipping, not only the time delays, but the cost of doing it, is through the roof. I talk to people in America all the time, their fuel price is getting crazy. I've talked to people in Europe and they reckon that it's now uneconomical for some people to put fuel in their car to go to work because the price has gone up so much. So all of this, the inflation cost, the cost of living, the fuel, all gets harder and harder to run your daily lives. Your cost of living. You pay your mortgages. Add on top of that places like New Zealand here, where we still have these ridiculous job mandates still due to COVID and people have lost their jobs because they've chosen not to get jabbed. So you've got so much spiralling out of control here. What can you do about it? What can you do about it? Well, you can go and ask your boss for a pay rise. Good luck with that. See how that goes. Probably not going to happen in many cases, probably not going to get the favourable answer that you're looking for. You could go and win the lottery, go and win a horse race, but it's not likely to happen. Is it? So the third way is what are you going to do about it yourself? What are you going to do to create a new source of income, a passive income, a side hustle? Trading is one of the best ways ahead And that's where it always comes back to me that trading wins hands down every time. Sure, you can go and invest in some property, but you got to take on more debt. You have to find tenants, especially if it's commercial these days. Not very exciting buying a shop in town in most places around the world with everybody online and not going to tow...
7 minutes | Mar 6, 2022
#448: Trading Crypto’s, Commodities and Indices
Trading Crypto’s, Commodities and Indices Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #445: Trading Crypto’s, Commodities and Indices In this video: 00:30 – Trading More Forex Pairs and Non-Forex Markets 01:40 – Choice of many Metals, Cryptos and Indices to trade 02:14 – A Sell trade on Coffee on the Monthly chart 03:05 – How things have changed in 1 year 04:28 – Don’t be concerned with only your local currency 04:47 – Changed to the MT5 platform 05:39 – Trading with Blueberry Markets 06:00 – Client passes $100k Prop firm challenge We now have the opportunity to trade markets other than the forex market and we're having outstanding success at that. Let me explain more and how you can do the same right now. Hey there trader, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 448. Trading More Forex Pairs and Non-Forex Markets Now being the Forex Trading Coach, we trade the forex market, no surprises there, but over the last year or so, most brokers are offering so much more. They're offering a lot more forex pairs than we used to traditionally have. We've got Swedish Krona, Norwegian Kroner, Hungarian Forint. We've got South the African Rand, Russian Ruble. Not that you probably want to be trading that right now, but you know, there's so many other markets out there. Currencies in Thai, all these others that... a few years ago, Singapore Dollar that you couldn't trade. And so what it's doing is offering us a lot more opportunities out there to scan through your charts and see, and take some trades. But the other fantastic thing that we now have the opportunity to do, is to trade other markets other than the forex market. And over the last sort of six months or so, we've been getting into that a lot more because brokers are offering more. So therefore in the forex pairs, not only they're offering just the standard pairs, there are a lot more. Choice of many Metals, Cryptos and Indices to trade When it comes to the metals, it's not just gold and silver anymore. There's a lot more there's lead and platinum, titanium and all these other metals that you can trade. When it comes to cryptos, it's not just Bitcoin and Ethereum, there's lots more. When it comes to the indices, you've got the ability to trade so many different indices from around the world. When it comes to the commodities, it's not just maybe something like wheat like it used to be or soybeans, there's so much more. A Sell trade on Coffee on the Monthly chart Give you a great opportunity and example of that is that, over my shoulder here, probably a bit hard to see behind me. I've just hit profit, just like a few hours ago on a monthly chart trade selling robusta coffee. Now you're going to have a look at your charts. Robusta coffee on the January monthly chart close. I took a sell trade. We look for a retracement, we got a beautiful retracement. And right now today being the 4th of March, we have just hit profit right today. That's made a 3.7 to 1 trade. I took it at the beginning of February when the January monthly chart closed for nothing with it since, and it just gone on hit profit. So it is literally a two minute see the trade, take the trade, forget about the trade. It just worked beautifully and it fell. How things have changed in 1 year Now, if I had been talking to you a year ago and said, "I'm making a sell trade or taking a sell trade on the monthly chart on coffee", I wouldn't have done it. I wouldn't have been talking about that because we didn't have the opportunity to trade markets like that. Over my other shoulder here, there's a great example of the German 30 index, which we took and we talked about this on our client's forum site. Last night my time at the 5:00 AM, New York changeover, the three hour and the six hour German 30 Index was setting up as a fantastic short p...
8 minutes | Feb 27, 2022
#447: This Is Why So Many People Are Trading Gold Right Now?
This Is Why So Many People Are Trading Gold Right Now? Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #447: This Is Why So Many People Are Trading Gold Right Now? In this video: 00:32 – Talking Gold, Great Results and 12/13 Profitable Trades 01:11 – Russian invasion of Ukraine and how it affects the market 02:12 – Fear and Uncertainty 02:48 – A lot of trades are on Gold 03:30 – Uncertainty over the morals of the banks 04:25 – Very few D1 trades but lots of H12 and H8 trades 05:00 – Trading Long and Short 06:26 – Future proofing yourself 07:12 – Client makes 8% gain on a $100k account in the last 2 days Why are so many people trading gold right now, and how does the Russian invasion of Ukraine affect us as forex traders? Let's get into that and more right now. Hey there, forex traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 447. Talking Gold, Great Results and 12/13 Profitable Trades Lots to get through on this session. I want to talk about gold. Why are so many people trading gold right now? Also, want to cover the amazing story I was told yesterday by one of our coaching clients who has just made 8% gain in the last two days, trading on a $100,000 prop firm account, and also want to discuss with you how we put, on our membership site, 10 trades yesterday. All 10 hit profit. I also took three trades on our live webinar yesterday, and two out of three also hit profit, so having some really good success there with our trades. Russian invasion of Ukraine and how it affects the market Elsewhere in the world, what's happening? Well, over the last 24 hours, Russia has now invaded into Ukraine. Obviously going to cause a lot of turmoil, a lot of issues politically. It's going to put up oil prices. It's not going to help us with inflation. The US-Russian ruble has moved more today, in 24 hours, than it's moved in the entire last 12 months. Great volatility out there, which, as traders, actually provides us with some good trading opportunities. You got to be careful that you don't want to be seen that a war's starting, and you're taking advantage of it, but the wars do move things and the market is now moving. As traders, and as technical traders, we're not so much interested in what the fundamentals are behind the scenes. It's more what's happening on the charts and trading those opportunities. We're certainly seeing that come into the market right now. Fear and Uncertainty Obviously with war, there comes fear and anxiety and uncertainty. We've been through two years of this with COVID. Most of the world, thankfully, is now getting on with life. Here in New Zealand, unfortunately, we're still stuck in the fear of the COVID situation and government control and everything else that's going on. It doesn't matter where you are in the world, there's this uncertainty and that fear. Oil prices, like I said, have gone up. Shipping costs have gone up. Inflation's going up. Everything's going up, becoming more and more expensive. Mortgage rates are going up, et cetera. A lot of trades are on Gold I was talking to Ben Clay over at Blueberry Markets earlier in the week, and he said to me, a very high proportion of their trading right now, that they're seeing at Blueberry Markets, is on gold. It got me thinking of ... This is prior to the Russian invasion, and it is like, why is that? Clearly, people are wanting to future-proof themselves, to stockpile the precious metals and golds and silvers, et cetera like that. You can see why, because of fear and anxiety and uncertainty, et cetera around the world. Something like gold or silver is something that has value and will always have value. You see what people are doing. Uncertainty over the morals of the banks There's uncertainty in the banks. I've just been on a webinar with some traders over in Canada,
7 minutes | Feb 20, 2022
#446: The Importance of a Traders Community
The Importance of a Traders Community Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #446: The Importance of a Traders Community In this video: 00:30 – Trading can be a lonely business 01:31 – We are big on creating a trading community 02:02 – Feedback from traders 02:21 – The webinars and the Forum site make the difference 03:50 – There are 5-10 trades posted per day 05:50 – Blueberry Markets are the best 06:45 – Any topics that you’d like me to discuss Talking with other traders and being part of a like-minded community is a massive way to ensure that your trading is successful. Let's talk about that and more right now. Hey, traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 446. Trading can be a lonely business Now, trading, as you probably know, can be quite a lonely business. You're probably trading from home, let's say, and no one really understands what you're doing, your wife, husband, partner, kids, parents. No one really knows. A lot of people don't really care. No one understands what it is that you're really doing. They say to me, "Are you trading stocks or something like that, or share trading?" And that's as about as much as they know. Family and friends, in most instances, are not that helpful when it comes to trading. As a result of that, you, as the trader, you sit there at home like me here with the computer and it's just you and the computer and it's quite lonely. It can be quite boring. It's not a very good way of... Especially when you're new or you've been trading for a while and you're getting real frustrated, it's not a good way of ensuring success. Trading can be a lonely business Now, one of the things that we do at Forex Trading Coach is we are really big on our trading community and helping people in real time. When people have been with us for six months and then a year, we go back to them and say, "Look, what is it that you are doing now that's different? What are your liking most about the course? Anything we can do to add to things, change things, improve things," just to get constant feedback from people. Feedback from traders And without a doubt, the feedback's very consistent, and the people love the strategy. They love the email support. They love the software. They love the daily trades. They can follow along. All that people love. The webinars and the Forum site make the difference But the two things that stand out in most cases are the fact that people absolutely love being on the live weekly webinars and they love the forum site. When you think about that, two of those are things that happen in real time. They're places where you can interact and be part of a community. Now, most online forums, and I know this from years ago with experience, are just dreadful. Absolutely awful places to be. It's just taken over by a small minority of people. Systems come and go. They swap and change all the time. It just never ends well. It just doesn't. Never does. What I love about our forum site is it's for clients only. We're only talking and trading one strategy and everybody there is there with the same common goal, to be a good trader, to help other people to be profitable, and just to basically make this work for them. And that's what we get. We have a live chat facility where clients can all chat and interact with each other. They can talk about trades that they're setting up or anything at all to do with trading. We have specific threads on different aspects of trading. People in different geographical areas can all interact with each other. Each timeframe chart that we take trades on has its own specific thread. There are 5-10 trades posted per day To give you an example, most days there are between five and 10 trades posted on the forum site on various other timeframe charts throughout the day that you can go and s...
7 minutes | Feb 13, 2022
#445: How Using Limit Orders Will Increase Your Trading Performance
How Using Limit Orders Will Increase Your Trading Performance Podcast: Click Here to Check Out The5ers.com Interview with Ryo Chong Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #445: How Using Limit Orders Will Increase Your Trading Performance In this video: 00:29 – I use Limit Orders on all of my trades 01:12 – Limit orders are the key to high reward:risk trades 02:23 – Other benefits of using limit orders 03:00 – Client trading for Prop firm credits limit order with an improvement in his trading results 05:12 – Consider Blueberry Markets if you are looking for a good Forex broker 06:13 – Enjoy your trading more by using Limit orders I'm going to talk about limit orders, why I use them all the time in my trading, and how they can help make a massive change in your trading results. Let's talk about that and more right now. Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach, with the video and podcast number 445. I use Limit Orders on all of my trades Now, I want to talk about limit orders. I use them on all of my trades. They're an incredible way of trading that will help you massively. So when you see a trade, you've got a few options. You can enter straight away at the market, and you're literally pressing buy or sell, put your lot size in that you require, and you're in the market straight away. You can use a breakout of a range that's called generally a buy stop or a sales stop. A buy stop is to buy somewhere above the current price, and a sales stop is to sell somewhere below the current price. It's okay if you're trading breakouts, etc., like that, but it's not generally a great way in terms of increasing the reward to risk of your trades. Limit orders are the key to high reward:risk trades However, the key to trading successfully with high reward to risk trades is to use limit orders, retracement orders. So, I use buy limits to buy lower than the current price and to sell higher than the current price. Price is always moving around. It obviously moves up down, very rarely does it move sideways, but it's always moving. And even if you get, let's say, an uptrend, within that uptrend, you're always going to get pullbacks. Nothing just goes dead straight line. And so, very rarely will you see a candle on your charts, especially a good setup candle and especially one on the longer timeframe charts that just opens at the absolute low and just go straight up. Very rarely does that happen. It can happen from time to time, but not very often. Most of the time you will see a, let's say, there's a good bullish set up most of the time within the next candles formation. You'll see the price drop first, and then go back up again. The opposite with a sale trade, you will see that the price will first get higher and then it will drop. That's how we take advantage of limit orders. Other benefits of using limit orders Now the other great thing is apart from not needing to be there at the exact time the price hit your entry level, because you can just place your buy limit or your sell limit and basically leave the trade alone to get filled. The other good thing with it is it takes the stress and the motion out of your trading, because it's not like the candles closed and you're ready now, trying to get straight into the market on the mouse or the keyboard, or trying to work at your position size or stressed about missing the next trade, because we're not jumping in straight away at the market. Makes a massive difference. Client trading for Prop firm credits limit order with an improvement in his trading results Now, the other thing is also, a client of ours, Ryo, who lives over in Singapore, he's one of our many traders who are successfully trading through prop firms. He was interviewed by the group called the Five Percenters, and I'll put a link to that interview on here so you can see it.
9 minutes | Feb 6, 2022
#444: How To Use Other People’s Money To Boost Your Trading Income
How To Use Other People’s Money To Boost Your Trading Income Podcast: Click Here to Check Out The5ers.com Interview with Ryo Chong Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #444: How To Use Other People’s Money To Boost Your Trading Income In this video: 00:25 – Boost your trading income by using other people’s income 01:09 – Prop firm trading 01:37 – What is a Prop firm? 02:50 – Once you know how to trade, the income potential is massive 03:09 – Ryo’s interview on the5ers 04:50 – The one thing that changed Ryo’s trading 05:44 – Are we a match? 06:25 – Have a look at Blueberry Markets 07:42 – Don’t rush out now signing up with Prop firms I'm going to explain how you can use other people's money to boost your trading income through your trading. This is really exciting. Let's talk about that and more right now. Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 444. Boost your trading income by using other people’s income And I'm going to talk about how you can use other people's money to massively boost the income that you make from your trading. This is something that's just going to affect so many people and benefit so many people once you know what you're doing. So the best thing that I see about trading the Forex market is really your income is unlimited. There is no limit to what you can make through trading the forex market, but once you know what you're doing. Now, traditionally, you could do things like trade for a few family and friends. You could sell trading signals. You could do things like that. But more recently, there's a lot better way of making money by using other people's money. Prop firm trading And it's a fantastic concept. And it's called prop firm trading. Now I mentioned this on last week's video on podcast. And I said I was going to put together a how-to guide listing and how you can go step by step and set up accounts or prop firm traders, and how you can make money through profit share. And I'm putting that together and I'll let you know once that is ready. What is a Prop firm? But a prop firm is basically an organization where you can apply generally for a fee upfront to show them how well you can prove. And generally they have different challenges or different levels, different steps that you have to go through. But when you get to achieve those levels and you prove to them that you can trade through the rules that they set, whether it be leverage, drawdowns, number of days, closing over weekends, all those type of things. Different prop firms have different rules, but basically what the end goal is to get to is to use their money. And you can trade like $50,000, 100,000. Some of them I've seen up to like two million dollars of their money when you get to the top levels. And if you are making X percent on that account, according to their rules, you are then on a profit share of those gains. And with almost all the prop firms, the profit shares, once you get to the higher levels are like 60/40, 70/30. I've seen some at 80/20. And so you get to keep, let's say, 80% of the profits and they keep 20% of the profits, but it's their money that you are trading. Once you know how to trade, the income potential is massive So you can soon see that once you know how to trade properly, and once you've been those different steps, challenges, to get to those higher level accounts that they can offer you, the income potential for you is incredible and you are trading other people's money. Ryo’s interview on the5ers So just this morning, and this is the reason I'm making this video and podcast on this exact subject today is I've received an email from one of our clients called Ryo over in Singapore. And Ryo is a very, very good client of ours. He's on all the webinars. He's on our forum sites and a lot of homework,
7 minutes | Jan 30, 2022
#443: Inflation Is Now at Levels Not Seen for 30-40 Years
Inflation Is Now at Levels Not Seen for 30-40 Years Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #443: Inflation Is Now at Levels Not Seen for 30-40 Years In this video: 00:27 – Massive Inflation rates around the world 01:21 – Are you going backwards? 01:46 – What can you do about this? 02:42 – Most people only buy Crypto’s 03:15 – Weekly Indices trades hit their profit target 03:36 – Do you wish to know more about Prop firms? 05:44 – Trade with Blueberry Markets Around the world we're now experienced inflation levels that we've not seen for the past 30 to 40 years. What does that mean for you? Let's talk about that a more right now. Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 443. Massive Inflation rates around the world Now you may have seen a very hot topic around the world right now, many economies is in inflation and how high it has got. In the US, they've just announced that their inflation rates has reached 7%. That's the highest seen over there since 1982. Here in New Zealand 6.3% is the level economists are talking about. That's also the highest that we've seen since the mid 1980s. Over in Canada, 4.8%, throughout the Euro Zone, 5%. In the UK 5.4%. So very high inflation rates. What does that mean? Well, obviously the cost of living is going up massively. It's something that has been predicted for the last year or two. And it's here right now. You've noticed things like food, fuel, housing, all the expensive things in your life are going up faster and faster and faster. Are you going backwards? So if you are on wages, what does that mean? Well, wages for a lot of people are pretty static, fairly constant. So it means that if you're in the US and inflation's gone up 7%, and your wage has not gone up 7%, you've effectively gone backwards from this time last year. It's costing you more of your wage to buy the same thing effectively, you're heading backwards. What can you do about this? And what can you do about that? Well there's different investment methods and obviously cryptos, and we'll use Bitcoin as an example as something that so many people have talked about over the last few years. So imagine how you feel right now if just over two months ago, you purchased Bitcoin for $69,000 and this week it's worth $33,000. Not great. And so for me, the thing that I love about trading the Forex market of course is we have the ability to sell. And we can still trade cryptos and we do, and I'll give you a great example with just last week on our membership site, we published a sell trade on Ethereum. We were selling on the daily chart and within two days we'd made a 3.2 to 1 reward to risk trade. In other words, we risked half of 1% on the trade, and we've made at 1.6% account gain by selling Ethereum. Most people only buy Crypto’s And the way that most people are getting into cryptos is you can only buy. And the beauty of the Forex market and the ability to sell something is what makes it so different and so good to me because of course not every chart keeps going up and up and up. Bitcoin, Ethereum right now are perfect examples. So not only are we gaining some great gains on the Forex pairs, we're now also looking at the indices, the cryptos and the commodities. Weekly Indices trades hit their profit target Just this week, I published three weekly chart indice trades, which have all hit our profit target. So the patterns that we trade, the method that we trade is proven to work across so many different markets, and that's the beauty of it. Now, two more things I want to mention to you. Do you wish to know more about Prop firms One, we are getting a lot of our clients who are now getting involved with prop firms and doing incredibly well. You may have seen some emails from me recently about some of our traders that are making some fa...
5 minutes | Jan 23, 2022
#442: Why the Daily Chart is the Best Time Frame Chart to Trade
Why the Daily Chart is the Best Time Frame Chart to Trade Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #442: Why the Daily Chart is the Best Time Frame Chart to Trade In this video: 00:31 – When to trade and which time frame chart? 01:04 – Not watching your charts all of the time 01:50 – Trade the MN1 and W1 charts too 02:13 – Spend 10 -15 minutes once a day 03:08 – Trades from this week 04:01 – Sell trades on the H8 charts 04:26 – Summary of when to trade 05:07 – Feel free to share my trading information If you had to pick one timeframe chart and one time of day to trade the forex market, when would that be? Let me explain more about how I trade and why I look at the daily charts at 5:00 PM New York time. Let's get into that and more, right now. Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 442. When to trade and which time frame chart? Now, questions I get asked all the time is, "Andrew, so many different chart timeframes out there, which one's the best, and when should I look at my charts?" So the easy answer for me is you should try and look at the daily charts each day. It's something I've done for the last 14, 15 years, and it's something that's very repeatable. It's easy to do. It doesn't take much time. It's profitable, and it is consistently reliable because the daily charts contain so much information. Not watching your charts all of the time It also means that you're not sitting there waiting all day and night watching charts. It also means that you're not leaving trades open for days upon days or weeks upon weeks. So it has a perfect blend for me. Now, if you cannot get to your charts at 5:00 PM New York time, doesn't matter, because the way that we trade, we use limit orders, anyway. Now we have coaching clients in 99 countries, all around the world, all on different time zones, people with different jobs, different times they can get to their charts, whether it be work, family, sport, all these different restrictions. Not everybody around the world can be there at exactly that time. But that is the time when the daily charts close, and then the new day opens. Trade the MN1 and W1 charts too At the beginning of each month, the new month opens at 5:00 PM, New York time, on the first of each new month, and the beginning of each week, the weekly charts open as well. So if you can be near your charts around that time, 5:00, 6:00, 7:00, 8:00, 9:00, 10:00 PM, New York time, depending on what that time is for you, that's going to be the ideal time to go and look at your charts for the daily charts. Spend 10 -15 minutes once a day Now I can scan through the daily charts using all the forex pairs, and now we also look at indices, cryptos and commodities, and I can go through all the daily charts in around 10, 15 minutes. And I do that now on a regular daily basis. But also you don't have to trade just the daily timeframes at that time. You see, at that same time of day, I then go through and look at the 12 hour charts, the eight hour charts, the six hour and the four hour. So you can scan all those four timeframe charts plus the daily. At the beginning of each week, you can do the weekly as well. And that gives you so many opportunities. Now, realistically, you can do all of that, completely, easily in under 30 minutes a day. Absolutely. Absolutely, simply to do in under 30 minutes a day. And that gives you so much in terms of timeframes to look at, but also means you can trade just once a day. Trades from this week Now, I'll give you some examples of trades that we've taken this week on the daily charts. We've had a trade of all these, being published on our membership site, by the way. Ethereum. So we're getting into the cryptos. We had a loss on Ethereum and I've got another trade open at 2.7 to one right now.
Terms of Service
Do Not Sell My Personal Information
© Stitcher 2022