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In this video: 00:29 – Why do you keep your risk per trade low? 01:03 – 2 things you must control 03:05 – This completely amazes me 04:08 – We also have high R:R trades 05:33 – Understanding the market and understanding yourself 06:10 – Our 2020 Black Friday 12 Hour Sale I get asked all the time, why I trade with such low risk. Let me explain more right now. Hey traders, it’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 392. Why do you keep your risk per trade low? The question I get asked quite often is, “Andrew look, if you’ve been trading for so long and you know what you’re doing, you know how to trade, why is it that you constantly promote and suggest other people trade with such low risk per trade?” And it’s quite an interesting question because people think that, you can just go and risk crazy amounts and make exceptional returns. For me as a full-time trader, that’s been doing this for close on 17 years, I can tell you that yes, you can make exceptional returns from the Forex market, but you can do that without risking crazy amounts. 2 things you must control Now, for me, there’s two things as a trader, that you have to control. One is your head. The other is your heart. If you can control those two emotions, then you are a long way down the track to helping yourself becoming a good trader. And for me, I’ve never really, had to worry about my trading because what I know I’ve got a strategy that works and I’m very comfortable trading it, and I know how to trade it. It’s been proven for such a long time. But also because I trade with such low risk per trade, I can place trades. I’ve got trades on behind me right now. I can go to sleep. I can go away for the day. I can do all sorts of things without stressing about trades, because I know that every single trade that I place has a very low and a controlled stop loss. And I’m not talking about putting a stop loss at 10 pips or 50 pips or a hundred pips or anything like that. I’m talking about if my trade gets stopped at and I place, my stop loss at a reason, not just at a number. In other words, I’m not placing it at 10 pips or 50 pips. I’m placing it at a level on the charts for a reason. Well, I know that that’s say, got a good chance of not being stopped at, but let’s say it does. And of course we all have trades that get stopped at. If it does, I know what my risk is as a percentage of my total account. And I can live with that because I know that it’s not going to damage me. I know I can get up and trade again tomorrow. And that’s the problem that I see so many traders having, and they have a losing streak and all of a sudden it’s like, “Oh my goodness.” It’s the head and the heart, again. “I can’t trade.” Or. “I’m scared to trade.” Or they see a really good setup and they go and take less risk than they normally would because they’ve had a string of losing trades. And of course that becomes the trade that ends up winning. And they only make a small amount rather than what they should be making. So you see the issue. This completely amazes me Now, it still blows me away that I see they’re just all over the internet, people saying, you should be risking 2%, 5% per trade. 5% per trade. I can have 10 trades in a row, go wrong and lose 5%, which hardly ever happens by the way. But I could have 10 trades in a row go wrong and I lose 5% of my account. These guys online are suggesting that you risk 5% per trade. You imagine what happens when you end up with three or four or five losing trades in a row. How are you feeling? Not only that is, what have you got to do as a percentage gain to make back that loss that you’ve just created? It starts messing with your head, with your heart. It comes back to those two things. So I can tell you that someone that’s been in this market for such a long time, do not ever underestimate the power of low risk per trade. We also have high R:R trades Now, what makes this also work for us is that the vast majority of my trades have very high reward to risk gains. So we could be talking two to one, three to one, four to one. I had a guy the other day on the Webinar that made a 6% gain on one trade. But most of my personal trades are around a two or three to one reward to risk. So a three to one means I’m risking half percent of my account on that trade. If it hits the profit target, I make 1.5% gain. Now you imagine doing that on a few trades in a row. That starts to really compound and become quite exceptional gains. And so for me, coming back to that low risk is important. You have to have high reward to risk. I’ve seen traders out there that have a 90% winning system, but still lose money because they have lots of small gains, one big loss. I’ve seen traders out there talking in pips, like most people unfortunately still do. And I’ve seen traders that have shown me a record of their gains and losses, and they have actually lost pips. But when I’ve shown them what they would have done, if they had worked on a percentage of their account on each of those trades, they actually made money whilst they were losing pips. Try and work that one out. It happens so often, it’s unbelievable. Understanding the market and understanding yourself So, comes back to understanding the market, understanding yourself, removing emotions as best as you can, because the whole psychology around trading, believe it or not, and if you’ve been trading live you’ll know it’s true, is a big hurdle to overcome. Like if you’re just starting, or you’re trading on demo, you probably don’t understand the importance of it just yet. But take it from me, that someone that’s been through the system, through the journey, controlled low risk, high reward to risk trades. Do that, you’re on the big step to becoming a good trader. Our 2020 Black Friday 12 Hour Sale Last thing, don’t forget, at the end of the month, we are holding a black Friday sale, Friday, the 27th of November, and maybe Thursday evening or afternoon, if you’re in the US or Europe, when it starts. It’s a 12 hour dime sale. Email me, andrew@theforextradingcoach.com. If you’d like to know more information about that black Friday sale. It’s going to be an exceptional sale. I’m going to be giving a ridiculous, ridiculous discount on the course. 12 hour sale. Take advantage of it. See you next week. Bye for now.

In this video: 00:28 – What an interesting year 2020 has been 01:20 – Problems around the rest of the World 02:00 – Using other people’s money to trade? 03:45 – Take advantage of these ways of making money from trading 04:23 – TFTC Pattern Trader bots 05:28 – Trading off a small account size 06:42 – You need to future proof yourself and learn how to trade correctly What would another corona virus lockdown mean for you? Is your job secure and what are you doing to future proof yourself? Let’s talk about that and more, right now. Hey, traders, it’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 390. What an interesting year 2020 has been So, it’s been an interesting year, hasn’t it? We’re heading up to the US elections next week, and we’ve obviously had coronavirus cause issues right around the world. We’re lucky here in some ways in New Zealand, we’re very small, a couple of islands safely tucked away at the bottom of the world. We’ve only got one international airport that’s open. We’ve only got three in total, but we’ve got one that’s open. Very, very easy for us to control coronavirus here. Only 5 million people but even so, we can’t move around. We can’t travel overseas. Visitors are not coming in. As a country, we rely on tourism and we’re heading into summer now so there’s going to be a lot of job losses here, a lot of problems coming. Problems around the rest of the World Around the rest of the world, Europe is getting… There’s more and more problems. There’s unrest, there’s riots. There’s more lockdowns coming and that’s likely to cause huge problems and unemployment fear, et cetera like that. And it comes back to exactly like I mentioned to you back in around March, April, May time about future-proofing yourself, but how you can use the Forex market to do that. I want to give you some examples of what people are actually doing right now along those lines. Using other people’s money to trade? The first example is a client who wrote on our forum site just this week. He said that his trading’s going really well. He has found one of those sites online where you can prove yourself as a trader. You can then get a split between profits from someone else’s funds. And so what he’s doing is he’s spent the last six months on the course understanding trading, getting to make it work. And now he’s at that position where he can really profit from it, which is fantastic. He sent a screenshot on the forum site. He said last week on his first week with this account that he’s trading on behalf of another company, he made 7.9% gain. There’s another email here and I’ve printed it out to read it to you. I won’t give you the name of the company the guy’s using, but he says I’m also looking at using the company and other funding providers. It looks like I’m out of work in the next five to six months so looking to transition to a full-time trader by then, and these funding providers are a very attractive option. He talks about the 70/30 profit split and they have a 10% challenge over 30 days and there’s rules of maximum and minimums and draw downs and weekends, et cetera. And he said on here, I hit a 10% profit last month. And he talks all about what he did and how he’s going to approach this. At the end, he said this is a great way to accelerate the path to full-time trading. It’s a very viable option. Take advantage of these ways of making money from trading So there are those type of companies out there, those type of systems out there, and they really do provide a great way of trading to start with a relatively small account yourself, but to gain profit from this, which can certainly help you when it comes to your income if like these guys, you’re looking at losing your job. Now, of course, there’s also the option of becoming a signal provider where you basically are trading your own account and people copy and pay a monthly fee for that. And that’s another option that’s actually really, really good for people to consider. TFTC Pattern Trader bots The third option that we’ve got is our TFTC patent trader. So it’s the Forex Trading Coach patent trader, and that’s our auto trading system where you can create bots using my strategy. Very, very easy to create your own bot, your own group of bots portfolio based on different candle pattern recognitions, timeframe, risk, et cetera. Our leading guy right now on a live accounts up over 55% since we started. He started in around May and it’s up 55% to date. His annual return was projected to be, I think, it was about 162% if he continues with the way that his bots are performing. A 14% draw down as well. So very low risk, very high returns. You imagine what you could do with 162% in the next 12 months. He’s doing that completely automated as well, by the way. Trading off a small account size But the point being is a lot of people come to me and they say, look, my account’s too small. I can’t live on this. Very important to understand that first of all, you actually have to know how to trade well first with low risk, low draw downs, et cetera. But once you have mastered that, and that’s what we can help you with, there are all these other options out there of how you can actually earn more income from your trading than just your own personal account. A lot of people say, “Hey, Andrew, I’ve got a $5,000 account, $10,000 account. How on earth can I live off that?” Well, realistically, you cannot. But my point being is that you have to understand how to trade. And if you can make, in the example of the guy here on our bots, 162% in a year, who is not going to want to jump at that opportunity and to invest in something like that, especially given everything else that’s going on in the world with the uncertainty, like we said, the unemployment, the low interest rates, the low returns on traditional ways of investing? You need to future proof yourself and learn how to trade correctly So if you have any interest in future-proofing yourself on going through this next series of lockdowns that seem to be happening now around the world, take advantage of this time. Yes, it’s so damn frustrating. It is for everybody, but you can actually do something about that time that you will be spending or have spent or are going to spend, that extra time, use it wisely and educate yourself, future proof yourself. And if you would like how to help with that in terms of you want to make Forex something that works for you, just contact us at theforextradingcoach.com and we’re here to help. So once again, this is Andrew Mitchem here at the Forex Trading Coach. I’ll see this time next week. Bye for now.

In this video: 00:22 – Joined by Ben Clay at Blueberry Markets 01:05 – How safe are your funds? 02:13 – Order types and hedging 03:30 – Can EU traders work with Blueberry? 03:56 – Can we get our money back if the broker goes bankrupt? 05:18 – What happens when you get sudden fluctuations in the market? 07:06 – Can some trades missed being filled? 08:19 – What makes Blueberry Markets different? 10:08 – Email me if you’d like to ask Blueberry Markets another question Andrew Mitchem: Today, we’re going to be answering your questions and the number one question that you want to ask a Forex broker. Let’s get into it right now. Andrew Mitchem: Hey, traders, it’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 389. Joined by Ben Clay at Blueberry Markets Now, something a little bit different today. We’re joined by Ben Clay at Blueberry Markets over in Australia. Hi there, Ben. Ben: Good day, Andrew. How are you? Andrew Mitchem: I’m fantastic and hope you are well too. Ben: Thanks, mate. Andrew Mitchem: Good. We’ve got something different. And last week, I asked a lot of questions to people and said, look, I want to know from you what’s your most important thing that if you could ask a Forex broker directly and we had a lot of questions come through. What I’ve done, Ben, I’ve just listed the main important topics. And if we can, I’d like to ask you those questions and just get your feedback on that so we can help people when deciding who to look for for a Forex broker. Ben: Absolutely. Absolutely, mate. How safe are your funds? Andrew Mitchem: We’ll start with this one is from a guy called Percy over in the United Arab Emirates. And Percy said, and this is a very common question. How safe is my money if the broker goes bankrupt, even if they’re regulated? Ben: Very good question, Percy. It’s one that I get asked very often as well, and is a question that you should be asking your broker, in my opinion. When it comes to any financial institution, there’s risks no matter where you hold your funds. Even if it’s in with the bank, there’s always risks holding funds at any financial institution. Ben: However, in Australia, we’re regulated by ASIC, the Australian Securities and Investments Commission, which enforced the Australian Client Money Laws. This is something that’s been in place over the last 10 years or so, I believe, and very strict and diligent. Basically, it states that client’s funds are segregated and kept separate from our daily operating funds, can’t pay for staff wages, company losses, anything along those lines. But having said that, again, I cannot say the funds are 100% safe, but we are overly compliance here at Blueberry and follow these laws very closely to ensure that client funds are as safe as they possibly can be. Order types and hedging Andrew Mitchem: Perfect. Thank you, Ben. Second question from Antonio over in Barcelona in Spain. Do you allow pending audit trading with expert advisors, robots? And do you also allow hedging? Ben: Oh, okay. We allow any expert advisors. That’s no issues at all and they can place pending orders. We have the four basic types of buy limit, sell limit, buy stop, sell stop, and we do allow hedging. I actually would like to touch on that a little bit because hedging is something I think there’s a little bit of misconception around where clients can hedge a trade and it’s used as protection. Ben: Whereas, I think a common misconception is a good thing to know is if you go 10 lots short, 10 lots long on the Euro, you still have double that exposure in the marketplace, whether your margin requirement is zero. It’s definitely something to keep in mind is that if spreads it to wide and outs, you are long and short on either side. 10 lots long, 10 lots short, every pip that it moves is going to be $100 either side, then your equity will start to drop. If that goes below zero, you’re going to be stopped out either way. Hedging is fine, but again, it’s just something that I like to warn my clients about is it’s not a way to protect your accounts. It can be used as a trading method, but don’t use it as a way to protect your accounts. Andrew Mitchem: Perfect. Thank you, Ben. And I hope that helps for you Antonio. Can EU traders work with Blueberry? Andrew Mitchem: Over to the UK, Trevor. Trevor says, “Are EU citizens legally restricted in any way from trading through Blueberry Market?” Ben: Look, not at the moment. ASIC is always updating their policies and so on, but at the moment we have clients from all around the world. That is subject to change and we will always keep our clients up to edit of any changes, but at the moment, no issues. Andrew Mitchem: Perfect. Cool. That’s good. Can we get our money back if the broker goes bankrupt? Andrew Mitchem: Another question. This is quite similar, Ben, to the first one that we had. And the question is, in case of company bankruptcy, or even direct fraud, can investors expect any return on their balance according to the ASIC rules? Andrew Mitchem: Now, for me personally, that’s quite an important question for me because I’m still waiting number of years on quite a substantial amount of money myself that I lost with Halifax a few years ago. I think this is a really important question for safety of people’s funds. Ben: Absolutely. It does go back to the question from Percy. Look, in all honesty, if anything is to happen to us and Blueberry is to go bankrupt, the full amount of funds should still be there. It might take some time to get them back, or it might be 95 cents on the dollar, but as long as the broker is doing the right thing by the clients, then those funds are still there in those segregated accounts. Even though it has been some time, hopefully you should still see a vast majority of those funds, Andrew. Andrew Mitchem: And just as a question from myself, Do ASIC go through and how often would they go through your records or your accounts or anything like that? Do they go through things [inaudible 00:04:52]? Ben: Yeah, quite closely to my knowledge. I believe once a month, brokers need to report to ASIC on all their client funds and their client dealings. It is quite strict. Andrew Mitchem: Yeah. Good. Excellent. Thank you. What happens when you get sudden fluctuations in the market? Andrew Mitchem: Another question here was this relates to something that happened a little while ago, but they said after the sudden Swiss fluctuations, which we’ve seen in the past, what protections are in place and what happens with a stop loss? Is it always honoured? Do you get gaps? How does it work if you have a massive move like that? Ben: That’s a really good question. I was working for a different broker at that time. It was a nightmare day for a lot of people. We have stopped our levels at 50% equity over margin. A lot of brokers use 20% so it’s a little bit lower, but ours is at 50%, which gives that little bit extra early stop out, so to speak. Ben: Stop losses though, as we get our pricing direct from our liquidity providers and show that price directly, whatever price we are receiving from them is the actual market price. If a stop loss is gapped over, you will be taken out at a worst price during a black Swan event like that. It’s one of the unfortunate things about trading, but the positive thing to look at is it works both ways. Ben: With the broker I was working out, we also had clients go into massive positive because their trades were taken out way past their take profits. It’s important to know that it does go both ways, but it’s just something to be mindful of. And if you’re always managing your risk and keeping up to date with the major news announcements, you can try and avoid this as much as possible, but hopefully within an event like the Swiss National Bank, we won’t see another one of them for another 100 years or so. Andrew Mitchem: Yeah. Yeah. Cool. I’ve been trading for 17 years and I think that one, maybe two events ever in that time, and of course it only really affects you if you’re on that currency pair at that time as well. Ben: Exactly. Andrew Mitchem: [crosstalk 00:06:41], New Zealand dollars [crosstalk 00:06:43]. Ben: Exactly. Yeah. It was very risky for anyone who was trading Swiss pairs during that time when the pair was pegged, very risky, but, hey, each to their own. Can some trades missed being filled? Andrew Mitchem: Yep. Perfect. Thank you. And another question here, this is from a YouTube comment from a guy called Kieran. He said that many complaints from retail freight as a bank brokers about orders not being filled. And he said, is it true that certain FX pairs are more liquid than say CFDs or even Exotic or minor currency pairs? And if so, which assets have more tendency for slippage? Ben: Okay, that’s a really good question. An order can only be filled if the underlying market is there to be filled. If there’s no buyers or sellers, then obviously no one can buy or sell at that price that you’re requesting. That’s going to be more extreme during rollover time, obviously 5:00 PM New York, which is midnight on our trading platforms. Spreads are definitely going to wide out. There’s low liquidity at those times. Orders are less likely to be filled or more likely to be subject to slippage over large news announcements is definitely a time to be careful. But as you said, Kieran, the more exotic pairs will have higher slippage and less liquidity at any given time. Your Turkish liras and Mexican pesos and so on, those ones are going to be more subject to slippage, then Euro, USD or pound Aussie, something along those lines. Andrew Mitchem: Just natural the amount of volume and liquidity in the market at that time. Ben: Exactly. Spot on. What makes Blueberry Markets different? Andrew Mitchem: Perfect. And then finally from me, now I’ve been with Blueberry Markets for many, many years now. You’re my preferred broker on the Forex Trading Coach site. And so really from your point of view, what would you say makes you different from what most other brokers have? Ben: Awesome question. Always a question that I love to answer. I think here at Blueberry, we just really try to change the perception in the way that the Forex markets is looked at, at Forex brokers are looked at. We have just tried to focus on customer service and just looking after our clients, when they have a query taking care of it and treating them fairly. Ben: At the end of the day, it just comes down to making sure that our clients are heard where they’re 24/7, even on the weekends. If anyone has any issues, to be there for them. It’s something that we noticed there was actually a big gap in the market. That’s all it comes down to. Ben: A lot of brokers are very similar these days. We do offer tight spread, fast execution, but most brokers do. And there are a lot of great Australian brokers out there as well that I would recommend. But when it comes down to the customer service, I truly don’t believe anyone in the market in the world is doing it as good as we are. Andrew Mitchem: Yep, and look, I 100% agree with that, and that’s the feedback that I constantly get from my clients. It’s just, they call me. They’re on the phone. Someone answers, it’s a real person. It’s the same group of people as well. It’s not a call centre. It’s not a [crosstalk 00:09:31]. Ben: I really appreciate that feedback, mate. That means the world to us, and that’s really what we strive to do. Andrew Mitchem: Yeah, absolutely. Perfect. But, Ben, that’s covered the main questions that we’ve had through. I mean, obviously there’s variations for all those, but we could go all day. A lot of it comes down to that customer service, that regulated licencing that you have and everything around that and safety of funds. Email me if you’d like to ask Blueberry Markets another question Andrew Mitchem: Look, if anybody else has any questions like this that we didn’t answer, what we’d like you to do is to send me an email, Andrew@theForextradingcoach.com. And I can then pass that directly through to Ben, or we can do another session like this another day. Ben: Absolutely. Andrew Mitchem: But Ben, thank you very much for your time and for being here and thank you for answering those questions so kind and honestly. Ben: No worries. Ben: Mate, thank you very much for having me. It’s a pleasure and I’m happy to do this anytime. Andrew Mitchem: Cool. Thank you, Ben. Ben: Thanks again, Andrew.

In this video: 00:24 – My latest bank statement 01:07 – What are your options? 02:06 – Continuing to do what we’ve always done 02:21 – Client from Germany making 2.5% to 4% per week 03:45 – The takeaways from Sedat’s comments 04:45 – Bettering yourself as a Forex trader Bank interest rates continue to fall. So what do you do when it comes to investing? Let’s talk about that and more right now. Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 376. My latest bank statement Now, I’ve received a letter here from Lloyds bank over in the UK. I had a account when I was a kid with Lloyds. Still continue to have one there for when we go to Europe for holidays, not sure when that’s going to be happening next either right now with coronavirus. But anyway, what I wanted to talk about was on here, it says my interest rate will be changing to 0.01 gross interest paid quarterly. How exciting is that? A 0.01% interest, it’s incredible. It costs them more to send me the letter to New Zealand than they’re going to pay me in interest. What are your options? It comes back to what are you going to do about that? Because interest rates throughout the entire world are obviously falling, and it sounds great if you want to borrow, but of course, getting money and borrowing is actually getting harder as well. You just think about commercial property, why would you want to jump into commercial property right now when office blocks throughout the whole world are empty because more and more people have actually worked out that they can work from home? Exactly like I’m doing right now behind you here. But people don’t need to be travelling to work like they used to. Sure, it will come back a little bit, but the actual having to be at the office, having to be at work, businesses are figuring out that it’s actually cheaper, of course, not to be renting, leasing or owning so much space. So therefore, as the investor, why would I want to go out there rushing to buy office space or anything like that when the actual occupancy rates are probably going to be a lot, lot lower. Continuing to do what we’ve always done So it comes back to, for me as a trader, I’m just continuing to do what we’ve always done. Why? Well, because it works. Why? Well, because what other options do we have out there that can actually beat what Forex can offer? Client from Germany making 2.5% to 4% per week Now, I also wanted to talk to you about an email that I’ve got here from a client in Germany called Sedat. And he says, “Andrew, it’s been exactly one year, one month and eight days since I started trading according to the Forex Trading Coach system with you. Since then, I’ve only had positive months and only three or four negative weeks.” He says, “I’m not yet a full time trader, but I’m on my way to becoming one.” He also said, now this is interesting, “Few people realise that you can learn this business.” Sorry. “Few realise that you have to learn this business for many years before you can really succeed. No one can become a doctor in two months, but many people believe that you can become a trader in only a few months.” And he goes on to say, “I myself, make 2.5% to 4% profit per week and only trade the one hour charts. I trade with great passion and dedication. If I can’t trade for day, I’ll almost get psychological withdrawal symptoms with a smiley face. I think without absolute passion, no one can become a successful trader.” So that’s from Sedat over in Germany. So 2.5% to 4% per week, never had a losing month, and only three to four losing weeks in a year, one month and eight days since he joined us when he wrote that email this week. Amazing, isn’t it? The takeaways from Sedat’s comments So just think about that. Not only the return, but also think about what else he says on there. You can’t become a doctor in two months, but why is it that online everybody thinks they’re going to become a full time trader in two months? You’ve got to be thinking about it real, but also you’ve got to put that time in and have that passion and that dedication. So it all blends together. It doesn’t matter whether you’re doing it just for the enjoyment and the learning, the process. You’re doing it for an investment, or you’re seeing yourself with very, very limited other choices out there. It comes back to the fact that if you want to become a full-time trader or even a part-time trader, you have to learn how to do it properly. But if you learn how to do it properly, the profits and their results are there, plain to see, and compared with 0.01% at Lloyds Bank in the UK. Well, one of these trades go in behind me here is going to make probably around 1% to 1.5% profit, made more than they’re going to give me in an entire year in one trade. Bettering yourself as a Forex trader So look, if you have any interest in bettering yourself as a Forex trader, of learning a new way of creating some passive income, a new skill, then I highly encourage you to listen to what Sedat has said there about taking your time, but learning it properly. There is no better investment you can make than in yourself and to jump on board with our five star rated Forex Coaching Course. So once again, this is Andrew Mitchem at the Forex Trading Coach. I’ll see this time next week. Bye for now.

In this video: 00:26 – 2 things to talk about today 00:53 – How do you know which pairs to trade? 01:43 – Should you only trade the Majors? 02:28 – My trading routine 04:55 – It doesn’t matter which pairs I trade 05:18 – All covered in my 5 star rated coaching course 05:42 – I’ll be interviewing Blueberry Markets – let me know your questions How do you know which Forex pairs to trade? And when? Let’s talk about that and more right now. Hey, Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach with the video and podcast number 388. 2 things to talk about today Now I’ve got two things to talk about. The first, I want to talk about how I can help you to know which Forex pairs to trade. And secondly, at the end of the video, I’m going to explain about next week’s video and podcast when I’m going to be interviewing, Ben Clay from Blueberry Markets and I want to know from you, what’s your number one question you’d like me to ask Blueberry Markets to Forex Brokers. So we’ll talk about that at the end. How do you know which pairs to trade? So back to the first point, how do you know which Forex pairs to trade? Now, it’s a problem that a lot of people come to me and they say, hey Andrew, look, I just don’t know what to trade. There’s a lot of currency pairs out there, which ones should I look at? And as Forex traders, we’re quite a fortunate position when you think about it. And that we really only have eight main currencies to look at and the combinations of each. Now of course there’s extra currencies like Norwegian kroner and Swedish krona and South African rand and all those. But there’s really the main eight. Unlike most other markets out there where there could be hundreds or even thousands of different stocks and shares and companies to look at. So we do have an advantage, but it’s still confusing for a lot of people. Should you only trade the Majors? And now another thing is a number of people also suggest that you should just look at the main currency pairs, the majors, and that will be like the GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD, USD/CAD. And you start to see the problem there is that they all have the US Dollar in them. Now let’s say the US Dollar happens to be quite flat. Then there may not be many opportunities there, and that becomes the issue or the US Dollar is very strong or very weak, and they’ll move together and then things suddenly change around and they all come and stop you and that becomes the problem when you trade just the majors. So what I like to do this is my routine. My trading routine At the beginning of each week, I scan the weekly charts on all the currency pairs or the main character pairs. There’s about 28 of them. And by setting up my weekly charts as a profile on my MetaTrader Platform, it’s very easy to get all the Euro pairs, all the Pound pairs, all the Aussie pairs, all the Kiwi pairs and just scan through and see what’s happening on the weekly charts. There’ll be some trades there most weeks, but even if there are no trades or very few trades off the weekly charts themselves, what they do is they give me an overall biases, this country pairs a little bit indecisive, or this one strongly bullish, or this one’s very bearish and is that likely to continue for the upcoming week, yes or no?. And it allows me to basically to plan that bigger picture. And then at the beginning of each new day, I then do exactly the same process, put on a profile where I have just the daily charts. And quite often there’ll be trades there specific trades based off the daily charts. But also I get my bias for that day, my strength and weakness analysis of where I see currency pairs. Again, some may not be moving much. And so I just tried to avoid those pairs that day. Some might be very strongly bullish or very strongly bearish. So that then helps me when I scale down to the shorter timeframe charts, and even like the 12 hours, the eight, the six, the four, and occasionally the one hour charts. So I don’t need to have everything lined up together. It does help if I can have, let’s say a trade on the four hour charts let’s say by trade. And let’s say that we have on the same currency pair the weekly and the daily also showing good, strong bullish tendencies. Then if I see that by trade on the four hour chart, then providing of course the candles in the right part of the chart, and I get the setup that I’m looking for, and I’ve got something to protect my stop loss. I’ve got a good reason why my profit target is going to get hit and not, not bounced before we get there. Then of course, that trade has more probability. But I’m still coming back to the currency pair that I decide to trade depends on the timeframe chart that I’m looking at but more importantly, it looks at the setup. I have to have the candle pattern set up, correct on that chart, regardless of what the character pair is or what the timeframe chart is. I have to have that set up correct first. And if I have that right, that then determines which currency I trade. It doesn’t matter which pairs I trade Now, I don’t trade just the New Zealand dollar because I happen to live here. It doesn’t matter to me, which of those currencies I trade. And quite frankly, it doesn’t matter which direction providing I have the technical setup and that’s what’s important. And that’s how you can help yourself determine which currency pairs to trade and to know which to trade. All covered in my 5 star rated coaching course Now, of course, in my five-star rated coaching course, we cover all that I’ve had to do that. And the great thing about following our membership site is every single day we do that exact process and we write down what we’re looking at and why? We do that at the beginning of each week, the weekly charts at the beginning of every month for the monthly charts. So it’s an all wheel time information that can help you to train your eye, to see what we see. So I hope that bit helps. I’ll be interviewing Blueberry Markets – let me know your questions Now moving on to part two quickly. This time, next week, I’ll be sharing with you an interview that I’m going to be doing next week. Next Wednesday with Ben Clay, who’s a head of marketing at Blueberry Markets over in Australia. Now Blueberry Markets can accept currency traders from many countries around the world. I’ve been personally with them. I have my own live accounts with them and have done for many years. But what I want to do is interview Ben with maybe the top seven or eight questions that you ask me. I don’t want to just ask my own questions. I want to know from you, what is the most important thing you want to know from a broker? So if you could interview a broker yourself, what’s the first thing you would ask them? Let me know what that is. Reply to me or when you see this video or podcasts, or to email me andrew@theforextradingcoach.com. Do that before Wednesday of next week. And when I interview Ben, I’d love to ask your question to him on your behalf. So I hope that helps. This is Andrew Mitchem here at the Forex Trading Coach. I see you this time next week, when you will be watching the podcast with Ben from Blueberry Markets. Bye for now.

In this video: 00:25 – Stop loss placement 01:04 – Examples shown on our weekly webinar 03:00 – The benefits of having the stop loss protected by a round number 03:33 – EUR/CAD trade makes a +1.5% account gain with low and controlled risk 04:32 – Details about how you can learn how to take trades like this too What measures can you take to prevent your stock loss from being hit all the time? Let’s talk about that more right now. Hey, Forex traders, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 387. Stop loss placement I want to talk about an issue that affects all of us, and it’s talking about stop loss placement and how to place your stop loss why and where, and what can you do to give yourself a higher probability chance of success within your trade and to prevent your trade from being stopped out? And this was a discussion that we had on our live clients webinar just last night my time. I was asked by a new client that’s just joined us this week, and he said, “Look, I’ve been through the course, loving the concept and how you’re going, but what measures do you put in place to help protect your stop loss?” Examples shown on our weekly webinar And so I showed a lot of examples, as I do every week, that have stop loss protection. Now, what I mean by that is this. It’s not just placing your stop loss at X number of pips. It’s not even placing your stop loss, according to the way that we trade with fibs, extensions, and retracements, but it’s also having extra protection in place to prevent that stop loss being stopped out. Now, a perfect example of that would be to have your stop loss on a sell trade above a round number. Now, we took a trade on that webinar yesterday, and you’re going to see it on your charts. It’s on the Euro-Canadian dollar on the one hour chart on the 8th of October. And we took a sell trade, and the trade had just come down through the 156 level 1.5600. And it had broken below that level. It closed below that level. We saw the setup that what we’re looking for, we had the trendline break in place, we had divergence, we had below the pivot point, all the things we’re looking for with a candle set up. Everything was really good there. Room to move to the profit target. But what we had is we had the ability to put our stop loss above 156, above that round number. And what that was basically saying was, on this trade, if the price then pulls back and goes to 156 and back beyond it, we get stopped out, we accept that we lose on the trade, but we have controlled low risk on that trade. So if the trade got stopped out, then we lose. We accept that. That’s part of trading. But what we also had in our favour was we knew that the 156 level had been a strong level in the past, and we knew that it was a round number, and those psychological levels are very, very important. The benefits of having the stop loss protected by a round number And by placing our stop loss above that level, it meant that not only did we have our stop loss above the high of the candle and a swing high, it meant that the price to go and break that strong barrier in order to take us out. And as it happened, the price dropped and it did exactly as we thought it would do, and it moved to the previous main swing low, and it gave us a three to one reward to risk trade in under three hours. In under three candles, profit target had been hit for a three to one reward to risk trade. EUR/CAD trade makes a +1.5% account gain with low and controlled risk Now, if you placed half of 1% of your account on that one position, you’d have made a one and a half percent account gain in under three hours. That’s pretty good. One and a half percent is an excellent return with very, very low controlled risk, high reward to risk trade, high probability trade. We already had a 12 hour chart trade on the Euro-Canadian mentioned on our membership site in the morning. That was a sell trade also. So we had everything in favour of the trade. Plus, the important point for this lesson is the stop loss had added protection. Now, if you can get that protected, that stop loss protected, by a pivot point or a round number or a previous swing high or low, anything at all like that, the more you can add into your favour to protect your stop loss, the better. And so that’s exactly what we did, and guess what? We had the result to follow. So hope that helps. Details about how you can learn how to take trades like this too If you’d like to know how we take trades like this, if you’d like to jump onto our live webinars and become a client, I’ll put a link on this post and you can find out more information from there. So once again, this is Andrew Mitchem here, the Forex Trading Coach, helping successful Forex traders worldwide for the last 11 and a half years. Bye for now.

In this video: 00:27 – Kiwisaver and the hidden costs 02:20 – Why would you invest in this? 03:28 – Retirement and the Forex market 05:15 – You need to understand the FX market before trading funds 05:58 – A week of retirement related emails this week 06:16 – Webinars for traders, both new and experienced Why do people pay massive fees to money managers, only for the money managers to lose their funds? Let’s talk about that and more right now. Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 386. Kiwisaver and the hidden costs Now I’ve just heard on the news today about here in New Zealand, the KiwiSaver. So KiwiSaver’s a bit like a retirement fund that people contribute and employers contribute into in the States, they call it a 401k. So it’s basically a national kind of retirement fund where you choose the company that you want to invest with. And anyway, so results here. This is coming today, Friday, the 2nd of October, and this is saying that KiwiSaver members here in New Zealand, and bear in mind, we’re a very small country of under 5 million people, total people. KiwiSaver members paid $538.9 million to the managers handling their money over the year to March. So here we are in October, this report’s only up until March 2020. But they lost a combined $820.9 million in the first quarter, up until the end of the first quarter of this year. And of course they’re blaming it on the stock market plummeting and the United States market recorded its fastest 30% drop on record. They’re going… Talking about that and they’re basically blaming COVID, but this was up until the end of March. Now COVID didn’t really hardly take effect until then. It may have for the first month or few weeks, but imagine what it’s going to be for April to March 2020 into 2021, the year that we’re currently in right now. So they lost 800 and almost $821 million combined, but they charged their members nearly 540 million in management fees. Why would you invest in this? And that just got me thinking, it’s like, well, that is just ludicrous. Why are people doing things like that? You know, I realise that the traditional ways of investing or putting your money into term deposits and into banks and things like that, and obviously with interest rates being so low around the world, things like this KiwiSaver, where they encourage all basically people in employment to go and do. And encourage young people to go and do it. And now, in some ways it has some merit, I suppose, because it gets people thinking about what they should do with their funds and retirement, et cetera, like that where I’m just wasting it all, especially for younger people. So I’m not knocking the idea, but the reality is, is these people are losing money and paying a fortune in fees for the privilege of getting nowhere. And like I said, this is only up until the end of March 2020. So you can’t blame coronavirus and you can’t blame plummeting stock markets and things like that because that’s all going to come in this year. So what’s this figure going to be like this time next year? Retirement and the Forex market So it got me thinking, well, I’ve talked about retirement before. This week, when you get to watch this video, I’m going to be sending out a series of emails regarding how I look at the Forex market and how I believe that you can use that correctly with low risk to aid you with retirement. So it doesn’t matter whether you’re 20 years old and retirement’s just this distant thing, because when we’re all 20 years old, no one really cares about retirement. You know, you just think it’s this… For old people. You’re not interested. I mean, I thought exactly the same. Just don’t really care about stuff like that. I’m worried about what I’m doing at 20 years old. But as you get older and you get to my age of 47, it’s starting to become something that I need to start to think about. And of course, if you’re 57, 67, then you definitely need to be on it or it’s too late. And so that got me thinking about how I can help you if you think that trading the Forex market is something that you’d like to do. Even if it’s a passive income, it doesn’t have to be your complete 100% retirement fund in that, of course. But it’s something to seriously consider because otherwise you’re going to end up finding that like this KiwiSaver fund, and it’s probably the same throughout the world, to be honest, right now, you’re going to pay a fortune in fees to get losing money in your account. And that’s not a good situation obviously to be in. And if you start looking at other things, depending on what age you are and where you are in the world, property may be a good idea. It may not be, but of course, it’s generally slow and it’s… You need more debt to take on. And you’ve got the issue of tenants and all those type things as well. You need to understand the FX market before trading funds And it comes back to trading the Forex market and why, once you understand what you’re doing, it can be so good. Just as an example, the last month just finished. September, on our pattern trader completely automated software that we have. It’s got nothing to do with the course. It’s completely different. It’s for everybody to take advantage of, even if you’re not wanting to become a manual trader yourself. On our live account, we made 16.24% in the month of September. So why wouldn’t you want to at least put something into that, as opposed to these retirement funds? So I hope that helps. It’s just to get you thinking about this. A week of retirement related emails this week As I mentioned, I’m going to be running a series of emails this week when you get to watch this video regarding retirement. And I think it’s really important that you give it some time and some thought, regardless of your age or your situation. Webinars for traders, both new and experienced The other thing is also is that each week I hold webinars for new traders. And so they’re really good sessions to get you introduced to the world of Forex market. If you’re new, or if you’ve been trading and you’re frustrated and it’s not working for you, then there’s another type of webinar for you there. They’re like high-impact power sessions, one hour sessions. Give you everything you need to know to make an informed decision to go further if you wish to. And I encourage you if you’ve not been on one of those sessions to get on one. If you can’t make the times when the sessions are on, then you can watch the previous day’s recording on demand at any time of the day or night that suits you. So hope that helps. Keep a look out for my emails for guarding retirement that are coming this week when you get to watch this video and listen to this podcast. And I’ll see this time next week. This is Andrew Mitchem here at the Forex Trading Coach. Bye for now.

In this video: 00:30 – Trading for the younger generation 00:55 – The benefits for the under 30’s 02:39 – Master the skill of trading 03:50 – Time is your friend 05:02 – You’ll be used to webinars, so take advantage of my webinars 05:42 – The webinars are on-demand If you’re under 30 years old, you are in a prime position and prime stage of your life to take advantage of the Forex market to protect yourself going forward. Let’s talk about that and more right now. Hey, Forex traders, it’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 382. Trading for the younger generation Now last week I made a video about people who are 50 years and older and looking at retiring. And I had a number of comments to say, “Hey, Andrew, what about us younger ones? I’m 20 or I’m 25, et cetera.” So what I’ve done is I made this video and podcast for you. If you’re on the lucky end of the scale and let’s say you’re 25, 30 years and under. The benefits for the under 30’s So if you’re in that category, that age bracket, you have many advantages, of course, the obvious one being time. But the other obvious ones would be well, you’re probably pretty good with computers and phones and iPads. You’re probably used to online webinars, Zoom, especially during the coronavirus lockdown. So you understand webinars, you understand online memberships, you understand e-learning all that kind of thing. So you had that in your advantage. But what I really encourage you to do if you are in that younger age category is when you get into trading, if that’s what you want to do… By the way you have to want to do this. Don’t just do it because you think it’s going to be a way of making some easy cash. Don’t do it if that’s you. But if you’re at the mindset that you like numbers, you like patterns, you’re in this for the long haul. If you want to do that and learn a skill to educate yourself, to almost future proof yourself as best as you can, going forward, in terms of finances and time freedom, don’t start trading today, thinking that you’re going to give up your job and become a full time trader next year. Just don’t do that because it’s likely not going to happen. Now, a lot of people that I’ve taught do go on to become full time traders, but it takes time. And of course you younger guys and girls love everything being instant and it’s just the way the technology and things… You’re used to that. And look, the trading, the Forex market does have that danger and that image out there of just being instant rewards. This money, money, money, money, money, flash cars, sit on a beach, go on holiday. That type of thing. Master the skill of trading The reality is quite different and the reality is, is that you need to learn how to trade. And a lot of people come to me and they say, “Andrew, look, how much do I need in my account to go and make X number of thousand dollars a week?” Well, my answer is, don’t worry about that for now. You have to invest in yourself upfront just like you would, if you were going through university or anything like that, any form of education and learn to walk before you can run and you have time as your advantage. So take advantage of the fact that you have time. And don’t worry about trying to make money from day one. Learn the skill properly, start small, start on demo, then get to small live accounts and make money as a percentage gain. Don’t look at it and go, “I’ve got a thousand dollar account. How can I live on that?” Because you will not succeed at trading doing that. You’ll end up with that gambling mentality and you won’t trade correctly. So the important thing is to learn to do the trading correctly, learn how to trade. Time is your friend Time is absolutely your friend. To give you a very good example and a real example that if you’d started my course back in 2010 and did nothing else than just followed my daily trades, takes you five, 10 minutes once a day, you would have turned a hundred thousand dollars into 1.84 million today, just with the power of compounding. Now of course, the reality is that over time people would have taken funds out et cetera, but you just see the power of compounding with time, but still with low risk. And that’s the important thing. I’m not risking silly amounts here. I’m risking half of 1% of our account on each trade. Now, of course, those results, very impressive that they are, have nothing to do with any other trades that we post on any other timeframes or weekly or monthly charts or four hourly charts or hourly charts, trades that we post on our webinars on our forum sites. It’s got nothing to do with that. So you see how the advantage, how good this can be, once you know what you’re doing and the advantage that you have with time. You’ll be used to webinars, so take advantage of my webinars So I really strongly encourage you, because you’re used to online training and you’re used to webinars. If you’ve not yet done it, jump onto one of my webinars. I hold them each week for newer traders, for those who have traded less than six months and for the slightly more experienced trader, those of you who’ve been trading for more than six months and maybe at that kind of frustrated stage where it’s just not working and you’re starting to beat your head against the wall kind of situation. So you’re either going to be brand new or you’re going to be quite annoyed and frustrated that maybe, it’s not working quite as easily as you thought it probably would do. So jump onto one of those webinars. Just pick one, just pick the one that suits you. The webinars are on-demand To help you as younger people, I also have that webinar as a replay on demand. So you don’t even have to sit and wait for a session to come up in the future. You can actually go watch a recent replay on demand straightaway, perfect for you if you’re under 30. So I hope that helps. And anything you need, any help you need at all, just come through to me, I’m here to help. We’ve been doing this for 11 years, helping traders right around the world. So come through to me, andrew@theforextradingcoach.com and I’ll see you this time next week with another video and podcast. Bye for now.

In this video: 00:25 – Most indicators do not work 00:52 – Trader who joined in 2012 appreciates how good Divergence can be 01:45 – How I use Divergence 02:21 – The 2 types of Divergence 03:05 – My favourite type of Divergence 04:48 – What are we looking for? Divergence. Is it really a useful tool as a Forex Trader or is it a gimmick? Let’s talk about that more right now. Hi, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 378. Most indicators do not work Now I want to talk about a really, really special type of indicator. Now as you probably know, I’m not a fan of almost all indicators. I use horizontal levels, but I’m not a fan of different moving averages and things like that. And all the indicators that the Forex brokers constantly throw at you with most platforms that you can get, there’s hundreds and hundreds of different indicators that you can find. Trader who joined in 2012 appreciates how good Divergence can be And I want to tell you a story about a client of mine, who back in 2012 joined me. And he’s done extremely well from his Forex trading, but he said to me, the other day we had a chat and he said, “Look, Andrew, I just wasn’t aware of how good divergence was when you mix it in with all the other things that I’m looking at and I teach as part of my course in my trading strategy.” And he said, “I understood certain things about price action and pivot points and candle patterns, but I just didn’t appreciate,” and it took him quite a while to appreciate. It was only when he saw lots of examples and put it into practise. He didn’t appreciate how good divergence can be if you use it the way that I use it. And if you use it correctly. So with that in mind, when he added that to his trading, his trading just increased another level again. How I use Divergence Now I don’t use divergence just simply as there’s a positive divergent signal, therefore I’m taking a bite. Don’t do that at all. I’m using it to back up what I see with my price action trading and my candle stick analysis and my strength and weakness and bouncing off brand numbers and all that type of thing that I look for anyway. But if I get divergence at the same time or just a little bit before my candle pattern, then that gives me an added boost, an added bonus to say, yes, this is a high quality trade. The 2 types of Divergence Now with divergence, what are we looking at? Well, for me, there’s two different types of divergence. There’s regular divergence, and that’s indicating to me a reversal. So we have an uptrend, we get regular negative divergence, and then we’re likely to get a downtrend, a reversal. Likewise, we’re in a downtrend already, we get regular positive divergence, the trend generally turns around and moves up. Now, as you’d know from previous videos and podcasts, I like reversal traits, but they’re slightly higher risk. You know, you are trading against the main direction at the time. So you need to have a very strong pattern, very strong setup in order to justify taking a trend reversal. My favourite type of Divergence But my favourite type of divergence is, and there’s a lesser known type of divergence, it’s called hidden divergence. And that hidden divergence to me is when the price action is at a certain part of the chart. And when I see that happening, it’s a trend continuation pattern. And that to me is a highly strong, high probability, high quality trade setup, because it means I’m trading with the trend, but after a retracement. So in other words, if I see a hidden positive divergence, I’m seeing an uptrend and then a pullback. And then I’m seeing my candle pattern all in a certain part of the chart again, which I trade and I teach, all happening for a reason with the hidden positive divergence. That gives me the confidence to take the bullish trade, the buy trade, for the price to then start moving back up again. Likewise, in a down trend, we then see a pull back again to a certain level. And then we see the bearish set up with the hidden negative divergence looking for the trend to continue down again. So the continuation patterns are certainly the higher probability traits. The reversal patterns on your charts look really cool because you’ve taken a sell trade right at the top of a trend or a by trade right at the bottom of a trend and in hindsight, when you see a reversal trade work, it looks fantastic. But always come back to that higher quality, higher probability set up of the continuation patterns will give you a higher win rate and a higher probability of success. Although the reversals can be very, very good. What are we looking for? So what is it that we’re looking for with divergence? So with negative divergence, we’re looking for the highs in the indicator to fall as the highs in the price get higher. So that becomes our conflict, our divergence. And so with that, we’re looking for the price to fall. With hidden divergence, we’re looking for also the indicator to fall, but this time we’re looking for the lows in the indicator to get lower. As the lows in the price have got higher, that’s a hidden positive divergence signal this time, which gives us the indication that the trend is likely to continue up. So two different types of divergence. One’s regular, one’s hidden. One’s for reversals, the other’s for continuation patterns. Two very different patterns, but two very, very high quality patterns that will certainly assist you with your trading. So I hope that helps. If you have any questions, just like that question about divergence, send me an email, Andrew@theforextrading.com. And I’ll see you here this time next week for another video and podcast.

In this video: 00:26 – A new review on Forex Peace Army 01:25 – A trader’s journey 02:15 – Trading is limitless 02:40 – Making 10% gain per month 03:03 – Why traders fail 04:10 – Trading can be lonely 05:03 – Have a look at the review You cannot become a doctor just by reading an e-book, so how do you think trading’s going to be any different? Let’s talk about that and more right now. Hey, Forex traders, Andrew Mitchem here, the owner of the Forex Training Coach with video and podcast number 384. A new review on Forex Peace Army I want to talk about a review that I’ve just received on the Forex Peace Army website by a client of mine over in Germany called Simsek. Now, Simsek has written a review, his third review on Forex Peace Army, and it’s been 10 months since he posted his last review. I’d really urge you to go and have a look at it. It’s a very long, detailed, comprehensive explanation about his whole trading experience, and I know that you will find something in that that will resonate with you and something that will really help you. You see, what I love about the review is it’s honest and it gives his whole detailed explanation of where he’s come from, what he’s done and what he’s currently doing now. I’m going to put a link to the Forex Peace Army review site on this post, underneath this video. A trader’s journey What Simsek has done, which is so cool, is he said about the trials that he faced when he was looking around trying to become a trader, and he said that he looked everywhere. He’s been on all sorts of different systems and e-books and things like that, and bought indicators looking for that magic holy grail, like everybody wants, do it for me, make it easy system. He realised it wasn’t there. It just doesn’t exist. But what he’s done, since he’s joined us, is he’s put in time, effort, some hard work, some dedication and he’s getting results. Like I said, it’s the third review, so you can go back and look at his other two reviews back into 2019, and now see this latest one in mid September, 2020. Trading is limitless He’s also posted on there to say that trading is limitless, and he’s absolutely right. Trading is like no other job or anything out there, and that once you know how to do it, your income is only really dictated by the size of your account. But to start with, you’ve got to learn how to do things properly, and that’s where he’s at right now. In fact. Making 10% gain per month What he said is, in the last 10 months, since his previous review, he’s made on average 10% per month. He’s also said he’s only had three or four losing weeks in that time. He’s mostly been trading one-hour charts and know due to other things that he has in his life, he’s developed into the longer timeframe charts, like the four, six, eight, twelve, and daily charts. Why traders fail But what he’s also done in that post is he’s put in there about why people fail. Go and have a read of it. Like I said, it’s really, really valuable information. Now, if you’ve struggled through your trading, you’re going to find something he’s written in there is exactly what you’ve gone and done. It’s about not sticking to the system about, sort of failing to have dedication, all those type of things. He also mentions, which is a very valuable point and I’ve said this before on previous videos and podcast here, is he’s talked about what I provide, the strategy, the support with people around the world, the indicators, the daily trades, live webinars, forums, all those things. But what he said, for him, that’s so valuable is that community support. To be on board with a group of like-minded people all around the world, all trading the same strategy, it’s the same system, all there together, helping people out live, and that community support can never be underestimated. Trading can be lonely Now, you’ll know that if you are set at home trading or you’ve been playing around with trading for a few weeks, or you’ve been doing it for years, you’ll know how lonely it can be. You’re just sitting there by yourself, looking at charts, or on some random forum site with other people you don’t really know, everybody’s talking about different things. You know that it’s not a great place to be. So what Sims has said that we offer is live trades. We offer specific trades. We offer a great community chat forum site. We offer live webinars. We offer real-time support. We’re taking trades. We’re showing people. We’re helping people. We’re communicating. We’re all learning there together. And so that part of what we offer is, for him, one of the very most important things. Have a look at the review Go and have a look at that review. Like I said, it’s very long, it’s very comprehensive, it’s very detailed and it’s very, very good. You will without doubt find something on that latest review that will massively help you to progress further as a Forex trader. Have a look at the link. It will be below this video and podcast. I hope that helps. This is Andrew Mitchem here, the Forex Trading Coach, looking forward to another great week next week. Bye for now.

#383: The Right Trading Conditions, with a +6.8% Gain for the Week In this video: 00:26 – An ex-dairy farmer and pilot 01:06 – When the conditions are right 02:02 – Up +6.8% for the week so far 02:38 – Today’s trading examples 03:50 – Make hay when the sun shines As a trader, it’s really important that you wait for the conditions to be right before you jump into new trades. Let’s talk about that and more, right now. Hey, traders, Andrew Mitchem, here, at The Forex Trading Coach with video and podcast number 383. An ex-dairy farmer and pilot Now, as an ex-dairy farmer, I know quite a lot about the weather and I know about conditions and I know what to do in certain conditions. Now, as a helicopter pilot, I also know quite a bit about the weather and I know what I should and shouldn’t do according to the conditions. And as a trader it’s exactly the same. If the conditions are not right, I’m just not really looking for too many trades. I don’t go searching for trades. The conditions aren’t right. Sometimes the best thing you can do is not to trade. Now, I know that can be a little bit disappointing for some people and that you feel like you always have to be in trades, but sometimes the best thing to do is to do nothing. When the conditions are right But other times, the best thing is to do is to see trades and take them, if the market is showing you those trading opportunities. Now, I’ll give you some great examples. This week, so far, and it’s now Friday morning here in New Zealand, I’m up 6.8% account gain for the week. Now, during most of August, I found that the trading conditions were not great for most of the time. I didn’t trade so much. I actually had a losing month in August. And that happens from time to time. But I didn’t trade a lot. And so, the important thing to get out of that is if the conditions are not there, don’t take trades, or just don’t take too many trades. I had a 0.5% loss in total for August. So, virtually, a breakeven month. Up +6.8% for the week so far But already here we are into September and I’m up 6.8% in four days already. Why? Well, because the conditions are there. Conditions are good. We trade when the conditions are good and we take advantage of that. And so, the other thing to look at is maybe days of the week, also. Monday and Tuesdays are generally pretty quiet, most of the time, but then Wednesdays, Thursdays, and sometimes into Fridays, you can get some exceptional trading conditions. And we talked about this on my webinar with clients, last night, of trading when the conditions are there. Today’s trading examples To give you another example. Today, Friday, the 11th of September. I didn’t take any trades on my membership site, today, based off the daily charts. There were no trades there that I felt were suitable to take. However, we posted on our membership site and our forum site, five trades based off the eight-hour charts, today, and one trade based off the six-hour charts. So, although there were no trading opportunities on the daily timeframe, the bigger timeframe, those big moves, by the way, the parent especially has dropped considerably, some massive moves. But technically, the setups were not there on the daily chart, so we go down to the shorter timeframe chart, because we know the market’s active. It’s just that the daily charts were not showing us the right setups at the right time. So, we scaled down to the shorter timeframe charts, and we found those five trades on the eight-hour charts and one on the six-hour charts that we posted for our clients to take. And that is the beauty of having the ability to use the same strategy, but over multiple timeframe charts. You’ll generally find that if the conditions are right, there will be a suitable trade there somewhere on the charts. Make hay when the sun shines So, to go back to the farming phrase, “Make hay while the sun shines.” If the conditions are there and you’re trading, take the trades, take advantage of them, profit the gains that you can gain from this amazing market. If the conditions are not there, don’t take the trades. Don’t waste your money. Don’t end up paying commissions to your broker for no reason. So, I hope that helps. This is Andrew Mitchem, here, at The Forex Trading Coach. I’ll see you this time next week with another video and podcast. Bye for now.

In this video: 00:27 – Amazing trading results and the power of a good trading community 01:27 – Trading can be a lonely business 02:13 – You get to associate with like-minded people 03:34 – Trades posted daily to help follow, learn and earn 04:41 – The power of our Forum site and how it helps our traders 05:27 – Being part of our community, trading family and support I want to talk to you about the power of a fantastic trading community and how it can massively help you as a Forex trader. So let’s get into that and more right now. Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 375. Amazing trading results and the power of a good trading community Now we have had some incredibly good results this week. And I’ll talk about that more shortly, but I want to talk about the power of a good trading community and how important that can be to your trading success. You see, from time to time, I get people saying to me, “Hey Andrew, I can learn everything that you teach in your trading strategy on YouTube, or I can learn it from a book or anything like that.” And it’s like, well, good luck to you, off you go then, because you cannot. The simple fact is you cannot do that. You have to be, if you want to be a good trader, the thing that’s going to help you along the line, because of course you can have strategy and software and everything that we provide. And it’s really, really, really good, amazingly good. We’ve been doing this for 11 years now as coaches, but what makes it even better is the community that we have. And I think that’s the bit that’s highly underestimated by a lot of people. Trading can be a lonely business You see trading’s a lonely business. You’re generally sitting at home on your laptop, on your desktop, most other people don’t know what it is you’re doing. You’re generally sitting there doing something with not a lot of support, not a lot of help. Like the traditional online forums are just terrible, they just are. I’ve never, ever found a good one. They all start off with great intentions, but they’re just awful. But what we’ve built up over the 11 years from thousands of coaching clients from currently 88 countries all around the world, it’s something very, very special and it’s not to be underestimated the importance and the power of that family, of that community, of that spirit, that like-minded group of people all with that common goal of helping each other and to becoming a better trader. You get to associate with like-minded people Now from a personal point of view, when I go to business events, which I do from time to time, not that often, but from time to time I go to them. The reason I go to them is not only to learn something, but more importantly, it’s the people that I meet there. And it’s the unexpected bump into someone, start talking, you know somebody who knows someone else or they may be in a completely different business to you and you start talking to them and you find some sort of common goal correlation together. And to me, it’s surrounding myself with really good, decent people who are like minded people. And that’s what I get out of those events, the energy that you get from that, just decent people. We all know there’s a lot of, without putting it bluntly, people out there that just don’t have the entrepreneur spirit, they just don’t have the will to want to better themselves. All those types of things. We know that society has that unfortunately, and it always has always will do. But we also know that if we surround ourselves with good people and people with the same interest in us, whether it be a sport, music, trading, whatever it might be, you grow as a person from that. And that’s what we have with the Forex Trading Coach community. Trades posted daily to help follow, learn and earn Now on a daily basis, we post our daily trades of course, and we also post about different trades that we see taking and setting up on other timeframe charts. Now the daily charts this week have been fantastic, great, great results. But what that gives you is the ability to see in real time what we’re taking and why. We then, on a weekly basis, hold a live two hour webinar, one in the European session and then the next week in the US session. So European, US continually go around like that week after week, I held the European session last night, my time. And again, lots of people on there. Great, great chat, great interaction. I took a trade live, it hit the full profit target within about half an hour on a one hour chart, Canadian Frank sell trade bouncing off of 70, took the trade. Other people could take the trade, make money, learn, we talk, we chat, we discuss other trades, we discuss live trades, trades that were taken previously over the last week. That in itself is invaluable. Can ask us questions in real time. See us trading in real time, not economist star with the benefit of hindsight, in real time. Very, very important. The power of our Forum site and how it helps our traders And then our forum site. Now, as I said, most forum sites on there, just general forum sites online are rubbish. They’re terrible, they’re awful, they’re dominated by a few people who think they know everything and it just ends up in a mess. It always does. Our forum site is very, very different. We all have the same goal, we all talk about only the one strategy. We’re all there together, everybody helps each other, there’s nobody dominating, it doesn’t matter whether you’d been on the forum site for years or whether you’re there for the first week. It doesn’t matter. Great group of people on there on the chat area, communicating about trade setting up, posting screenshots, taking trades. And again, this week we have had some phenomenal trades taken and posted in real time on our forum site. Being part of our community, trading family and support So not only do you have the ability to earn from being a part of the Forex Trading Coach Group and community, but also you had that family, the community support that is just so invaluable, and you really will not find that by watching a video somewhere online. So what I’m going to do is I’m going to put a link below this video and podcast to allow you to find out more information regarding our five star rated Forex Trading Coach Course, five star rated on Forex Peace Army for the last 11 years. Not too many people can say that. If you’d like to take your trading to that next level. By being part of our community. Then, click on the link and find out more details. So once again, this Andrew Mitchem here The Forex Trading Coach. Have a great weekend. I see you next time, next week. Bye for now.

In this video: 00:25 – A great September with a +17% gain 01:05 – More bad news from around the World 01:50 – What are you doing about it? 03:00 – Client makes +3.7% gain from 4 trades this week 04:37 – Hindsight trading is pointless I’m up 17% for the month of September so far. Let me share with you how I’ve done that. Hey, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast #385. A great September with a +17% gain And as mentioned, I’m up 17% for the month of September so far, with still four days to go. I’d like to explain how that has happened and how you can take advantage of the market movements that we’re seeing right now. Now go have a look at your charts, should have seen we’ve had big falls in currencies like the Australian dollar, the New Zealand dollar, the euro and the pound. Gold and silver have been falling as well, and the US dollar has been climbing dramatically. And so we’ve seen some big movements in the market over the last couple of weeks. And so we’ve been able to take advantage of those. More bad news from around the World But moving on to other things, depending on where you live in the world, you would have seen that coronavirus is back in the news again. Countries like the UK and parts of Europe going into lockdowns again. Unemployment is going up around the world. Interest rates are crashing. I’ve just received an email from one of my bank accounts or bank saying that they are going to now pay me a massive 0.1% interest for the year, which is absolutely outstanding. I’m thrilled to be receiving 0.1. No, I’m not. Absolutely no, I’m not. Why would I have money in the bank when I’ve just made 17% in a month? Most of that on auto trading, which I’m going to share with you. So think about it. What are you doing about it? What is it that you can do to get yourself knowledgeable about these markets? I walked around town recently, the amount of shops that are starting to become vacant, owning commercial property, owning a shop in town, it’s not particularly good right now and probably not going to get better for a long, long time if ever. And as I mentioned, unemployment rates are going up again, government schemes to keep people in employment or giving them monetary handouts for the last few months, certainly here in New Zealand, that’s about to stop. Governments cannot afford to just keep handing out money all the time. It’s crazy. There’s going to be generations of people paying that off in taxes for their lifetime. So it comes back to, that’s why I trade the Forex market. Here I am at home, trading, enjoying it, doing other things, but it comes about from that work and dedication at the beginning. So you have to put that effort of time dedication into it. Client makes +3.7% gain from 4 trades this week Just last night, I held a webinar with my clients, about two hour webinar, and I had a client Atamas. Atamas sent me four trades that he’s taken this week and he’s made 3.7% gain, just on four trades. Showed them the screenshots of the trade, the entry exits, the position, why he got in. And we talked about that during the webinar, we do that on all of our webinars. We’re looking at trades that people are taking, we’re looking at taking trades live. And I also shared with my clients, our amazing pattern trader software, and you can find a link to it. I’ll put it on this video and podcast. It’s called tftcpatterntrader.com. It’s our automated trading software and you can take advantage of that even if you’re not a coaching client. And so that allows you to trade a combination of bots that you can create a week, have created new, can use our versions or edit them, create your portfolio and have that trading if you want to, on complete auto trading. And that has had a tremendous month for September. With my manual trading and with my bot trading together, I’m up 17%. With very low risk for trade, extremely low draw-down, a 17% still with four days, got Friday, and then Monday, Tuesday, Wednesday of next week, before we then move into October. So it shows what can be done and it also shows how good the strategy is taking advantage of those moves when they happen. And that’s another important point. Hindsight trading is pointless There’s no point in looking back at charts and go, “Oh, if I’ve done this and if I’d have done that, I would have made that amount of money.” It’s pointless. It doesn’t matter. What you have to do is have the strategy, the knowledge in place and the system in place to be able to see the trade, take the trade in real time from the right hand side of the chart. That is the only way you’re going to make money in the Forex market. We can do that. We can help you teach that and our auto trade software can do that for you. So have a look at the links I’m going to put below this video and podcast. One to the coaching course, we’ve been running it for over 11 years, over 2,500 clients in 88 countries have been through that coaching course. And now the new TFTC Pattern Trader software, both are excellent options. Have a look at the links, make sure that you jump on board with us and you profit from the Forex market. Because quite honestly, there’s not a lot of other options out there right now. And the way things are going throughout the entire world, it’s probably not going to change for very long. So make sure that you take advantage of the amazing Forex market. So I hope that helps, once again, this is Andrew Mitchem here, the owner of the Forex Trading Coach. I’ll see you this time next week with more trading tips and information. Bye for now.

In this video: 00:27 – Preparing for retirement 01:23 – The traditional way has disappeared 02:07 – Recent examples 03:47 – Results from a client in Germany 04:39 – What can you do today to prepare for retirement? 05:30 – Contact me at andrew@theforextradingcoach.com Are you looking to trade the Forex Market as a way to help you through retirement? Let’s talk about that and more right now. Hey Forex traders, it’s Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 381. Preparing for retirement I want to talk about helping people in retirement. And the reason I want to do that is I was amazed at the recent survey that I held recently with a number of people who replied back who are over 50 years old. And it got me thinking about why people want to trade and want to learn how to trade. Now, obviously, the traditional ways of earning money a number of years ago, you potentially could have funds in a saving account or even a retirement account. And obviously, those type of saving accounts have just crashed. Savings accounts, interest rates through banks, and traditional means are just not what they used to be and you cannot rely on them any longer. And the likelihood going forward, at least for the next five plus years, is the interest rates aren’t going to do a lot, regardless of where you live in the world. The traditional way has disappeared So, one of the traditional safe ways of having some funds and building up a retirement fund, have now gone. And for a lot of other people who are younger, then obviously property is potentially an option for some people. But as you get 50 and beyond, you either don’t want to take on that kind of debt, you may not be able to take on that kind of debt through the bank rules, or you may be at that stage where maybe you’re 60 or older and you’re thinking, “Well, property and making some money in property in maybe 10 years time isn’t what I need today. I need to make something today.” And that’s where we come back to the Forex Market. Recent examples Now, a couple of things I want to talk to you about is that… The first one is last night, I held a live two hour webinar, in fact it went for two and a half hours, with my clients like we hold each week. And on that, I invited a client of mine who’s been trading since 2014, called Michelle, who lives over in New South Wales in Australia. And she came on to the webinar and talked for about half an hour and just gave some amazing information, and I didn’t know it at the time, but Michelle is a retired nurse. I didn’t know her complete background, but she explained why she got into trading, and then she took a break, and then why she got back into it again, and how she’s now trading. But what Michelle’s doing, which was fascinating, is she is a believer of the philosophy that to become an expert at something, you need to do it at least 10,000 times. And so, Michelle has some back testing software and she’s testing, going through almost like in real time but through back testing my strategy, looking at different candle patterns, plus of course ongoing she’s taking trades in real time. She said she was up to about 6,500 trades now of her 10,000 trade plan. But what it’s doing, it’s allowing her to trade, initially DMO, now live. But when she gets to that 10,000 and she’s consistently profitable and making really good money. She said in her own words, that she will be then happy to then trade live account as her income for retirement, and so that is an exceptionally good thing to do. And if you have a plan, it can be achieved. Results from a client in Germany Another thing I wanted to discuss with you, or talk to you about, is an email that I received here last Saturday morning, a client of mine over in Germany. And he said, “Andrew I finished this week very successfully, overall 4% profit on the four hour charts. And on the six, eight and 12 hour charts, I made another 3%. a total of 7% profit in the week.” So he said that having these hard timeframe charts is giving him a lot of trading opportunities. He’s very selective on the ones that he takes though. So you can see that with his result here of 7% in a week. Used to trade a lot of one hour charts and now has upgraded to the higher timeframe charts because of less trading time needed, higher probability charts, high reward to risk, etc. What can you do today to prepare for retirement? So blend all that together. What are you going to do? And how, if you’re at that situation where you may be starting to get towards thinking of the next five, next 10 years, or even you’re in retirement right now. What is it that you can do to help yourself learn to trade the Forex Market exactly like see that there from Germany, and Michelle who was on my webinar? What is it that you are going to do today to help start to get you to become profitable as a Forex trader? But to be able to do this by yourself so you can supplement your income, or supplement your retirement, or trade and travel when we’re allowed to travel again after this COVID’s finished, hopefully, or anything like that. What is it that you’re going to do for that passive income using the Forex Market, but what are you doing about it today? That’s the important thing. What can you do today to prepare for retirement? If you need any help at all, with learning a proven, profitable, reliable strategy that doesn’t take very much time to trade per day. It has been traded by thousands of clients throughout 88 countries throughout the world. If you want to know how we do it, just drop me an email, andrew@theforextradingcoach.com. And I’ll see you this time next week with another video and podcast. Bye for now.

In this video: 00:26 – Issues that you’ll be facing as a Forex trader 01:22 – The 5 main issues 02:32 – #1 Lacking a working strategy 03:40 – #2 Managing and Avoiding Risk 04:15 – #3 Lack of time to trade 05:00 – #4 Don’t know when or why to enter the market 05:23 – #5 Controlling Emotions 06:25 – Contact me if you’d like a copy of my live webinar recording Today, I’m going to discuss with you the top five issues facing most Forex traders. It’s going to be really interesting. Let’s get into it right now. Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 380. Issues that you’ll be facing as a Forex trader And I want to talk to you about some issues that you’re likely to have as a Forex trader. And the reason I know that is I’ve held a survey recently from my entire database, had some great replies from people, and I’ve gone through all of those replies and I’ve categorised the replies in terms of the five biggest issues that most people seem to say that they have when it comes to trading the Forex market. And so I’ve categorised those in order to try and help you out. Now, just to let you know, also as a thank you for those people who send through the survey responses, I’ve given them access to one of my recent live two hour trading room webinars that I hold exclusively with my clients. If you’d like to get access to that same webinar replay, just send me an email or reply to andrew@theforextradingcoach.com, and I’ll send that through to you. The 5 main issues So moving on to the five top issues that most people seem to have at that. So the first one is most people cannot seem to settle on a working strategy, seems to be the biggest issue at. Number two, most people seem to have an issue with being able to manage their risk or avoiding risk within their trading, avoiding taking stupid demand to risk. I’m going to cover all these issues in more detail shortly. Number three, most people seem to say that they do not have enough time to trade properly. Number four, they don’t know where or what enter the market, and even when they’ve entered the market, they don’t know how to exit the market or where to exit the market. So it’s a lack of understanding. Number five, controlling emotions and how this hurts their trades. So there seems to be a lot of people out there with revenge trading or having issues with emotions or taking too big of possessions. So we’ll cover all of those issues here. #1 Lacking a working strategy And number one, the strategy issue. It’s the obvious number one problem that most people will have. So from my point of view, my strategies been working for years. It took me four years of trial and error, probably like you may be having right now to get to that situation of a proven strategy. And so for me, I strip my charts of everything. I got to look at the price. How often do you actually look at what the prices? Are you worried about indicators crossing over each other? So all those types of things have a detrimental effect. You’ve got to look at the price. You got to actually see where the price is right now. And so I started to build together an understanding of candles and where they appear on the chart, and then I introduced other things like support and resistance levels, ran numbers, Fibonacci retracements and extensions, and using a completely different way to the standard, by the way, and divergence and putting all that together to get a system that works for me. So strategy, once you understand and have a good, clear strategy, and I can certainly help you with that, you’re away. It’s a big part of your problems fixed. #2 Managing and Avoiding Risk Number two, managing avoiding risks. Well again, that can be easy once you know what you’re doing. Forget about making pips. I only trade with a maximum of 0.5% risk of my count on any one trade. That’s it, 0.5%. Sometimes it’s under a quarter. So you have to have controlled risk and known risk. That means you can trade any currency pair, any timeframe chart, any stop loss size, does not matter. Your risk is the same. How do we do that? We use our lot size calculator. Again, it’s freely available on my website and we adjust our position size. #3 Lack of time to trade Number three, don’t have time to trade. Again, easy once you know how. I can teach you how to trade in under 30 minutes a day, quite easily. Last year, you may recall if you’re following me back then I went over to the UK and Europe for four weeks with my family. When travelling around Europe, I traded for less than 30 minutes per day. I recorded all the trades. You could see them taking on my account. You can see them all actually posted on our membership site. I returned back to New Zealand after four weeks with a 12.79% account gain by risking a quarter to a half percent risk per trade. Less than 30 minutes per day of trading, you can do it once you know how to do it and once you understand trading. #4 Don’t know when or why to enter the market Number four, don’t know where or why to enter the market or even how to get out. Again, easy once you know how. Once you have a strategy in place, once you can understand candle patterns, once you understand fib retracements and extensions, quite simple to know. Yes, there’s a trade set up. I’m entering there, I’m exiting them, my stop loss is there, done. Very, very easy to do once you know how. #5 Controlling Emotions Number five, controlling emotions and how this hurts their trading. Well, again, if you get number one, two, three, and four correct, your emotions are under control. For me, I see a trader take a trade because I’m confident in my strategy, I’m confident in my low risk approach, I’m confident in my high reward to risk trading. And so when it comes to controlling emotions, I very rarely have emotions within my trading. Now, I’m just seeing what I’m seeing and taking the trade. Why? Because I know it works. Why? Because I’ve been doing this for nearly 17 years, but actually with my strategy nearly 13 years, teaching it for 11. I’ve seen thousands and thousands of traders throughout the entire world, 88 countries who are clients in right today, succeed at this. So controlling your emotions like most things, once you understand what you are doing, it is relatively straight forward. So I hope that helps. Those were the top five issues that I face or that people were facing, they told me they were facing. As I mentioned, I gave all of those people who applied access to that live webinar recording. Contact me if you’d like a copy of my live webinar recording If you’d like to see that recording for yourself. And by the way, the feedback from these people who watched that recording was unbelievable because finally they could see and hear how a trader thinks and how you go through and process trades and how you go through and analyse charts and take trades in real time. So if you’d like a copy of that same webinar replay link, send me an email, Andrew@theForextradingcoach.com and just say webinar recording, something like that and I will get that link through to you, or leave a comment on this page if there’s a comments area and I’ll get that webinar link through to straightaway. So I hope that helps. This is Andrew Mitchem here at the Forex Trading Coach, helping traders throughout the world succeed at trading the Forex market. If you’d like me to cover any topics like this on future videos and podcasts, just send me an email again, andrew@theforextradingcoach.com and I’ll see you this time next week. Bye for now.

In this video: 00:31 – Coronavirus re-emerges again 01:28 – Government job payment ends soon 02:35 – Where does this leave you and your future? 03:43 – It’s time to consider the Forex market 05:22 – Few other businesses are as good as the Forex market 06:05 – Learn how to trade first 07:06 – How to find out more So the coronavirus continues to cause mayhem around the world. What are you doing to try and secure your financial future? Let’s talk about that and more right now. Hey, traders. It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 379. Coronavirus re-emerges again Glorious day. So I thought I’d come outside here and talk about actually what is an extremely important subject to almost everybody. Here in New Zealand, we thought we were doing really well with coronavirus. We were paraded around the world as having a hundred days of no coronavirus in the country. Now, all of a sudden, Auckland has gone into lockdown, and the rest of the country has gone up to a higher level. I’m guessing next week, the whole country potentially could be locked down. So things are not quite as good as everybody thought they were. Of course, around the rest of the world, the same picture is applying with countries getting second waves and more lockdowns. Although that is, I suppose, annoying from a day-to-day living point of view, there’s a far bigger problem, of course, going on, and that is money cannot just keep getting printed. Governments around the world cannot just keep propping up jobs that really are now not needed or there’s no demand for them. Government job payment ends soon Here in New Zealand, on the 1st of September, all the handouts for the jobs that the governments are just keeping people going, that stops on the 1st of September. What happens then? All those jobs. People are artificially propped up right now. Yes, that had to happen, but governments cannot keep printing money. Here in New Zealand, the official cash rate stayed at 0.25%, and they’re talking the next step they can do. Well, pretty much, the only thing they can do is to take it negative. Now, this is New Zealand. This is a country that only a few years ago had one of the highest interest rates in the world. We had this thing going on called the carry trade whereas New Zealand interest rates were very high, Japanese rates were very low, and people were just basically making money on the massive interest rate differential. But of course, here we are in the same position as the rest of the world. They are potentially talking about going negative on the official cash rate. Now, that’s just never been even heard of before, and Where does this leave you and your future? So where does this leave you as someone either with a job, or someone that’s looking to retire soon, or even someone young that’s looking at getting into a job? Where does this leave you? It’s not particularly good, and although I hear… Here in New Zealand, certainly, there are lots of people spending money. There’s people spending money on lots of cars, and sparkles, and all these type of things, which is fantastic to keep the economy running because people are not spending money on big overseas trips this year because they can’t, but that’s really good to keep the economy propped up. But none of these things are actually to do with investing. They’re all buying shiny objects, and that’s the problem I have with our government here. They just keep spending money and spending money, but not once have they actually thought about how they’re going to create money, and invest, and… Yeah, so that. That spend money mentality cannot just keep going on forever. We have to get to a stage where people start to save, people start to invest, and actually try to create money. It’s time to consider the Forex market That’s where I think it is really important that you consider. If you’ve not gone into the Forex market, you’ve got to consider looking at the Forex market. If you are in it, then you’ve got to make it work for you. You’ve got to get trading properly. Really important you can do that. Look, I just want to run past a couple of numbers that I’ve just written down here. Just last week, if you did nothing else on our membership site and just followed our daily trades, you’d have made over 1% gain on your account, and that was quite an ordinary week. It wasn’t a very good week at all, but we still made a 1% gain on the daily trades with high percent risk. On trades posted on our forum site just twice a day, we made a 3.5% account gain, again, with high percent risk just on trades posted on four, six, eight, and 12-hour charts. So all up. If you did absolutely nothing else and just followed a couple of trades that we posted on our membership site and our forum site with very low controlled risk last week alone, which was quite an ordinary week, it wasn’t very special, you’d have made a 4.5% account gain. Now, you go find me a bank that’s going to pay you 4.5% in a year. We did that in a week. Yes, it’s fantastic to achieve results like that, but more importantly, what I believe is, very important, is it’s what it teaches you. You then have the ability to look for these same traits. You understand how to read the markets, how to read the charts, how to look after yourself going forward, how to look after your family. What happens if your job disappears? What happens if your traditional investment in a bank, or in a commercial property, or something like that stops or just drastically reduces? Few other businesses are as good as the Forex market Very few other businesses are like the Forex market. What I mean by that is if you want to do it right, yes, you need to put some money in upfront to invest in yourself. That’s why I believe in education. Yes, you need some money, obviously, in an account. You can’t trade thin air. But what you have to realise is to trade, it doesn’t mean to say you’re going to go out there and have to spend years and years at university. It doesn’t mean to say that you’ve got to go and buy a business in town and spend hundreds of thousands of dollars on rents, and leases, and product, and all that, and staff, and all that type of thing. You can do this with very, very minimal cost, and you can learn how to make a very good steady percentage gain. Learn how to trade first Now, I had a question from someone the other day. He said, “Andrew, look. I just don’t have a large account.” Well, learn how to trade first. Sell signals. Trade money for other people that you know, family, friends, things like that. Just small scale. You don’t need to go into big scale and get licencing, that type of thing, but just… The important thing is to learn how to do the trading first. Look, 4.5% just last week. Are we going to do that every single week? No. Of course, we’re not, but 4.5% just last week. If you can do that consistently over time and get that kind of level, 1%, 2%, 3%, 4%, 5% a week. Sometimes a negative 1% or 2%, but that’s going to happen. That’s trading. But if you can get to that kind of level, people are going to be desperate to have someone like yourself, once you know how to do that, trade for them because really, what other options do they have? So that’s why it’s important to start small, to get education, to join a community of like-minded traders with a system that works. How to find out more If you’d like more details, I hold a couple of free webinars each week. One for new traders, one for more experienced traders. I urge you, if you’ve not been on those, to jump on board with one of those webinars. Just pick the one that best suits you. Get on board. Look after yourself. Future-proof yourself by educating yourself in the Forex market. So I hope that helps. This is Andrew Mitchem here at The Forex Trading Coach. I’ll see you this time next week. Bye for now.

In this video: 00:26 – A great question from someone on my webinar 01:12 – Some examples from the last 17 years 02:09 – The EUR/USD got very high in 2008 03:05 – The GBP/USD went over 2.0000 04:10 – What does this tell you as a trader? Will the U.S. dollar decline over the next 12 months, and if so, how do you trade it? Let’s talk about that and more, right now. Hi, forex traders. Andrew Mitchem here, at the Forex Trading Coach, with video and podcast number 377. A great question from someone on my webinar Now, I held a webinar just this morning and it was a free webinar for the public to attend. I had a great question asked on that webinar, and I’d like to read it for you and then answer the question. The question was, “Hey, Andrew. Look, there’s a lot of talk these days about the U.S. dollar, and that it’s going to decline over the next 12 months. Which U.S. dollar pairs would you recommend using to take advantage of this potential decline?” Fair enough question, you’d think. So my answer was, well, you cannot trade that way. You just cannot, because it means that you are now having a predefined … in your mind, you are set on the U.S. dollar falling, and it’s quite a dangerous way to trade because how does anybody know what’s going to happen? Some examples from the last 17 years Give you some prime examples on this over the last number of years. So I’ve been trading for nearly 17 years and over that time, to be honest, actually, when I started trading, the U.S. dollar was talked down massively at that time. Everybody was talking up the Euro, talking up the pound, talking down the U.S. dollar, and that’s not really happened. Within certain times over those last 17 years, yes, the U.S. dollar’s declined, but then it’s strengthened. The problem is, you cannot have that bigger picture idea, and back when I started trading, the monthly non-farm payroll, as it was called back then, the U.S. monthly unemployment data, the U.S. jobs news back then all the time was terrible. Huge numbers of job losses, and people were saying, “It’s the end of the U.S. dollar. The Euro’s going to take over. The new Euro, all these amalgamated countries. It’s the new thing to do. You’ve got to be on to the Euro.” The EUR/USD got very high in 2008 So, give you some examples. Back then, the Euro got as high as 1.60. It got very, very high, the Euro against U.S. dollar, 1.60. Then, from mid-2008 onwards, if you look at a monthly chart, overall, all it’s done is fallen. Like I mentioned just now, yes, there have been times where the Euro-U.S. dollar has gone up, and therefore the Euro is strengthened, the U.S. is weakened. But if you take the bigger picture since mid-2008, when the Euro-U.S. dollar hit just on 1.60, all it’s done since then is fallen. So that tells you that actually, what’s happening is the Euro is weakening and the U.S. dollar is strengthening. So if I had that bigger picture view back then of the U.S. dollar as weakening and declining, for the last 12 years, in general, I would have been wrong. So very, very dangerous thought process to go into there. The GBP/USD went over 2.0000 Another example, the pound-U.S. dollar. Back in 2007, it went over two. So the rate of the pound-U.S. dollar was over two, 2.000. It went over that level and then it crashed to 1.14. So all it’s done is the pound’s dropped, the U.S. has strengthened. Again, everybody said the U.S. dollar would weaken, and all it’s actually done, again, bigger picture, and there’s been fluctuations, yes, within that time, but bigger picture, the pound’s dropped, the U.S. dollar has strengthened. Then, of course, we add Brexit into that, and everybody again saying, now, that the U.S. was going to probably strengthen against the pound, therefore now the pound’s going to weaken. But if you look at what’s happened over the last month or so, the pound-U.S. dollar has actually strengthened. So now we get this complete confusion. Now we’re looking for, with Brexit, it’s all happened and Britain’s by itself, the pound’s going to crash even more. Yet the last month to right now, at the end of July 2020, it’s telling us that the pound’s now coming back with strength again. What does this tell you as a trader? So put all that into a big mix together, what do you get out of that? Well, you can basically get out of that that, for me, as a technical trader, I am trading completely and utterly what the charts tell me. Why? Well, because it then takes my opinion out of it. My opinion of what’s happening to the U.S. dollar, or the guy that was on the webinar today, his opinion that the U.S. dollar’s going to weaken over the next 12 months, it might. But until we get to July and August 2021, we don’t know what we’re talking about right now is going to be true or not. But what we can do is look at the charts and see what the charts are telling us. Even if you wanted to trade longer term, like monthly charts and weekly charts, you still need to look at what they are telling you and trade accordingly to that. I think if anybody just suddenly took a position on any of the U.S. dollar pairs for the U.S. dollar to weaken, and just did it right now, first of all, why would you do that? Secondly, how are you going to manage that? Thirdly, which pairs are you going to trade? Because if you think that the U.S. is going to weaken over the next 12 months, you really need to be sure that the currency you’re trading against is going to strengthen. Now, I don’t see a huge amount of strength right now in the Australian economy over there. It’s not looking too good. The New Zealand economy is not looking particularly great right now. Europe’s not looking great. Britain’s in a bit of a mess right now. Interest rates in Japan are negative. Switzerland’s the same. So which pair are you actually going to trade if all you want to do is say the U.S. dollar’s going to weaken? Makes it hard, doesn’t it? But you can go and look at your charts. You can identify trends. You can identify pullbacks. You can identify reversals. By taking those positions as a technical trader, you are trading what you see, not what you think. It’s a big difference. So I hope that helps. If you have any questions just like that, and you’d like me to cover them on future videos and podcasts, just drop me an email, andrew@theforextradingcoach.com, and I’d be glad to help. I’ll see this time next week. Bye for now.

In this video: 00:29 – Let’s go flying but first we need to prepare 02:22 – Pre-flight completed and trading completed 03:36 – Experience some of the amazing scenery 04:03 – Back on the ground 04:25 – Update on TFTC Pattern Trader June performance 05:31 – Manual trading and the TFTC Course 06:13 – Education and discipline are key to success I’m going to take you on a helicopter trip today and share with you some of the benefits of being able to trade correctly with low risk and without spending all day looking at the charts. Let’s get into this and more, right now. Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 373. Let’s go flying but first we need to prepare And that’s right, something different day. I’m going to take you on a ride here in my helicopter. I’m at the hangar. Pretty cold day, as you can see here, middle of winter here in New Zealand. And I’m going to go for a fly, but also I want to explain to you about why it is that we trade, and the benefits and the lifestyle that come with it. Now I’m, as I’ve said, at the hanger. So I just want to show you in here. I’ve just posted my daily trades from the laptop here. Trades have all been posted, and we’re now off for a fly. But one of the important things to note when you trade well and when you fly well, you’ve got to do a lot of preparation and a lot of planning. Now, inside the helicopter here, if I open up this door, you’ll see in here there is a huge amount of dials, instruments, et cetera. And the planning that goes into being able to fly is huge. Exactly like trading. So I’m now going to open up all these doors here and do a full pre-flight of the machine. I’ve got my flight plan ready. I’ve got everything prepared in advance for the flight. So I’m going to do the pre-flight and explain to you how that corresponds with trading really, because I’ve done my daily trades in there, which took me probably 15 minutes today. And it’s a public in the US coming up, and non-farm payrolls was a day early this month. And so the market’s pretty quiet. But the thing is, if you do your planning correctly, then you get the benefits from your trading and trading quickly. If you do your planning correctly with flying, we’re going to have an awesome day today. So I’ll finish the pre-flight, open the doors up here, take the helicopter outside, and I’ll see you shortly. Pre-flight completed and trading completed Okay. So back outside now, done the pre-flight. Everything’s checked in the machine. And as you can see it’s a stunning day here. And so we’ll be leaving shortly. So how does this relate to trading? Well, one, with trading gives you freedom and flexibility. I’ve been in there in the hangar and taking my trades today. I know when to take them. I know when I need to be at the charts. I’ve looked through the daily charts, the 12 hour, the eight hour, the six hour, and the four hour charts, taking my trades. Placed them on the computer, I’ve got my stop loss in place, I know my risk. And that’s it for probably six hours, maybe even 12 hours. So the great thing with that is you can go and do things in the day. If you’ve got a normal nine to five job, you can still trade properly. If you’ve got other commitments, travel commitments, family commitments, you can still trade properly. So we’ll be off very, very shortly. And I’ll hopefully get the guy that’s coming with me just to film a few seconds so you can see us up in the air crossing a few quite high mountain ranges on the way today, so looking forward to that. But it all comes back to understanding what it is that you’re doing, getting yourself educated to start with, and then getting yourself prepared. Flying, exactly the same as trading. So I’ll see you shortly up in the sky. Experience some of the amazing scenery [00:03:36 – 00:04:03] Back on the ground Okay. So we’re back again, back on the ground. Pretty good landing. Managed to get it on the yellow lines on the trolley here. So I hope you enjoyed the video. I hope you enjoyed just the few seconds of scenery there. We were up to nine and a half thousand feet at one stage, which is pretty high over those snow-capped mountains. Update on TFTC Pattern Trader June performance So I just wanted to also let you know about the pattern trader. So I’ve mentioned it in the last few weeks. We ended up closing out of the month of June with a 20% return on 100% autopilot, quite appropriately naming the autopilot, but the pilot was me today. Yeah so 20% for the month of June, which is exactly as the back-testing stats say for the same time, which is what’s so good about this software. It’s not about back-testing working really well and they’re live testing failing. That’s the problem with so many expert advisors, robots out there. That’s where this software is so, so different. It’s really, really good software that if you want to learn how that we trade, but also have the ability just to put it on 100% auto trade and kind of just let it do its thing. And once you’ve created a portfolio of robots that work for you, and we’ve got a lot of ready-made robots there as well. Manual trading and the TFTC Course So that’s it for now. So if you want to do the manual trading course, then you know exactly how we trade now. I was in the office there taking daily trades, I’ve just checked them on my phone to see how they’re going. And I’ll look again at the 5:00 AM New York time change over again, when I’ll be looking at the one hour, the four, the six, and the 12 hour charts. That’s what trading is about. Trading shouldn’t be just sitting in front of the computer all day. It should be about doing well from it, controlling your risk, understanding what you’re doing, and getting out and doing things like this. Whatever it is that you like to do, use your trading to help you to get to be able to do that. Education and discipline are key to success But the whole thing comes back to discipline, it comes back to education, it comes back to knowing what you’re doing. Exactly like flying one of these. So that’s it for now. Hope you enjoyed the video and podcast. If you’re listening to the podcast, I’m sorry, but you missed out on some amazing scenery. And yeah, if you ever want more videos, I’ve got lots of them of flying around this amazing part of New Zealand. So that’s it for this week video and podcast. This is Andrew Mitchem here at the Forex Trading Coach. Bye for now. I’ll see you this time next week.

In this video: 00:25 – Knowing when to trade 01:01 – Simplify your trading 01:50 – Trade at the close of a candle 03:07 – Trading the right time frame charts 04:16 – Another +1.2% gain on Autopilot for TFTC Pattern Trader 04:56 – The price for TFTC Pattern Trader will be increasing soon 05:50 – Go to TFTCPatternTrader.com for more details I’m going to explain why I only look for a new trade upon the close of a candle. Let’s talk about that and more right now. Hey, Traders, Andrew here at the Forex Trading Coach and welcome to video and podcast number 372. Knowing when to trade So I want to talk about understanding when you should look for trades, and at the end, I’ll also give you an update on our hundred percent automated Pattern Trader Software, which has had another positive result again this week. So, when to look for trades. It’s really important because a lot of people get very, very confused. I had an email yesterday from somebody who said, “Hey, Andrew, do you ever look at a trade midway through a candle?” Very easy answer. The answer is absolutely not. Why would you? Because things are not set, things are changing all the time. Simplify your trading So in order to simplify your trading, not only in terms of your mindset, knowing exactly what to do, lower stress, having a lot more control in your trading, it also helps you to get away from your charts. Because if you know exactly when to look for trades, that can really help you with your longevity as a trader. And the mistake that many traders make when they get into trading, and look, I did exactly the same myself when I started trading, is that people think that they have to sit there all day, watching every PIP move up and down. They’re glued to their charts. And although it’s quite exciting to start with when you start trading, realistically, you’re not going to continue trading and have that love and that passion and enjoyment for your trading if you just are completely glued to your computer. Trade at the close of a candle So, end of the chart, or end of a candle, means a lot of things. It means that you have all your, if your trading indicators, have all your levels set, nothing’s moving. Nothing’s moving up and down and changing. It also means that if you’re analysing strength and weaknesses that you can look at different pairs at exactly the same time. So it means, for example, you can trade and look at, say, there’s a bullish movement on the Euro/US Dollar. Is that because the Euro is strong or is it because the US Dollar is weak? And so therefore you can go to like the Euro/Yen, Euro/Aussie, Euro/Kiwi, Euro/Frank, and look through those to actually get a good analysis overall of what’s really is strong and what’s weak. So it helps you with that. It helps you massively with stress levels because, quite frankly, it takes all that away because you’re not desperate to get into a trade and making mistakes with lot sizes and stop losses. Especially if you trade the way that we trade, where we use limit orders. So you’re not even jumping in at the market straight away at that time anyway. It really allows you to focus properly and take good high quality trading decisions with accurate position sizes without having that stress like a lot of new traders do, for instance. Trading the right time frame charts Has also the benefit of allowing you to take advantage of the different characteristics, different movements within the market. So what I mean by that is this. Sometimes you will see, for example, that the four hour chart trades might be showing some really good examples. On other days or other weeks, you’ll find the daily charts are showing really good trade setups. And so by having the ability to only look at a trade setup at the close of a candle, for instance, you can look when the daily charts close and then open for the new day, which is 5:00 PM New York time. At that time I look at the 12 hour charts, the eight hour, the six hour, and the four hour charts. Very, very easy to scan through several different timeframes at that exact time. You don’t have to be sitting there not knowing when to trade or looking at five minute charts, one minute charts or anything like that. Very, very easy to do that. So I highly encourage you to look at the close of a candle. It will massively help your trading and it will help your overall enjoyment. And, almost certainly, it will help your results. Another +1.2% gain on Autopilot for TFTC Pattern Trader Now talking in results, our Pattern Trader has had another positive week. Right now I’m up 1.2%, 100% automated trading. That follows on from, I think it was about nine and a half percent, three weeks ago. Last week when I made the video on my Friday, I think I was up about 3.8%. In the end I closed the week at about four and a half percent for the week last week. This week’s been certainly a lot quieter on the charts, but still it’s positive. It’s still another positive week. So the last three weeks since I’ve been reporting here on these videos and podcasts, all three weeks have been positive, 100% automated trading. Very, very low draw downs as well. The price for TFTC Pattern Trader will be increasing soon If you’d like to know more about that we are going to be keeping our membership price, our coaching clients membership price, open for the Pattern Trader Software for the next two weeks only. And then that gives you the advantage to trial the system for free and then jump on board if it’s for you. In two weeks time from now, which will be on Monday the 13th of July, we are then going to be increasing the price of the Pattern Trader Software for all of my non coaching clients. So if you’re a coaching client of the Forex Trading Coach, you’re always going to keep up that low price. If you’d like to keep and take advantage of that low price that the clients have access to, make sure you jump on board in the next two weeks because after then we’ve done that kind of introductory special where people can jump on board at a low price. The price certainly will be increasing to reflect the quality of that software. Go to TFTCPatternTrader.com for more details So have a look on this link and go to TFTCPatternTrader.com, and as mentioned you can take advantage of a free trial to the basic version of this incredible software. And also on that page you can see how you can subscribe to the paid versions and allow that incredible software to be traded on your account and go to the level three of the software, where you can have the option to completely put the software onto autopilot. So I hope that helps. This is Andrew Mitchem here, the Forex Trading Coach see this time next week. Bye for now.

In this video: 00:26 – How much time do you spend watching the charts each day? 01:30 – Waiting for every pip 01:53 – The way we trade 03:12 – Why we trade at 5pm EST, New York Time 03:58 – 4 weeks on holiday and I made +12.7% 04:48 – A normal day 05:37 – Get away from the short time frame charts I’m going to show you how you can trade the Forex market very well in as little as 10 to 15 minutes per day. Let’s talk about that and more right now. How much time do you spend watching the charts each day? Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 367. And I want to talk about how much time you spend at your charts, at the computer as a Forex trader. And probably for most people watching this, you’re probably part-time traders doing this as an interest, a hobby, something to create a passive income. And what I tend to find is that most people seem to think they need to be set at their computer at their charts all day long or as long as they can. A lot of people say to me, “Andrew, I’m around working in the daytime, but I’ve got all evening to sit and watch the charts.” And the problem with that is it doesn’t become sustainable, it’s not reality. Yes, you can do it for a short period of time. But think about this long-term, are you going to spend five days a week just sat there watching your chance every evening? Or if you are working night times, are you going to sit there every day time watching your charts? The reality is that you’re not going to be doing that or you’re not going to enjoy doing that for very long. And that becomes a problem. Waiting for every pip Most people though, they think they’ve got to be sitting there waiting for every pip per movement, waiting for this line to cross over that line. And just in case you miss something or you’re scared to leave a trade open because you might like lose a pip or two. And that’s the problem. People thinking in the wrong terms, you should never think in pips, forget the pips, they do not matter. Think in percentages, but that’s another subject. So the reality is that the way that I teach and the way I trade is that most days I spend between 30 and 60 minutes total chart time. Now, when you start trading, when you learn a system, yes, you’ve got to put that time in the effort upfront. Absolutely you do. You’ve got to watch, you’ve got to see what’s happening. See how the market behaves, see the behaviours of different currency pairs, all those types of things. But the reality is though that once you know how to trade it’s quality, not quantity. And less is more, all those kinds of phrases that you hear, but they are so true when it comes to being a good Forex trader, because you do not need to sit watching your charts all day long in order to do well. And for me in the way that I trade, the way that I teach is that we only look for a trade at the close of a candle. Now for me, the two main times that I try to be at my computer on New York time, 5:00 PM and 5:00 AM. Those are the two times. If I’m not there exactly at that time, especially the 5:00 AM. It doesn’t matter because the way that I trade is I’m taking retracement orders anyway so I don’t need to be there. The 5:00 PM. I’m always there because that’s when I post my trades for my clients and have done so for nearly 11 years now, without fail, we’ve never missed day. Why we trade at 5pm EST, New York Time So the reasons for those times, the 5:00 PM New York time, that’s Eastern standard time. That is at the close of the trading day. That is when I can look at the daily charts, the 12 hour charts, the eight hour charts, the six hour charts and the four hour shots. I can scan through those five timeframe charts in probably 10 minutes. Look at all the currency pairs, scan through them, 10 minutes done. And then at 5:00 AM, New York time, I look at the 12, the six, the four. And because it’s then in the European time, I look at the one hour charts as well. If I think nothing else than looked at the charts at and around those two times, then you have ample trading opportunities. 4 weeks on holiday and I made +12.7% Now to give you an example, last year, you’d have seen on my website, if you’re following me back then, I went over to Europe, the UK, and France for four weeks with my family. And in that time I traded 10 to 15 minutes once a day on the 5:00 PM, New York close and that was it. In the four weeks I was away, I made 12.7% on a live account. All the trade today, you can go and view them. They were all posted on our membership site. They’re all taken in advance of the market moving, but 12.7% in four weeks trading, 10 to 15 minutes once a day in the evening in the UK and in Europe and that was it. No on-going management. No going back to the charts during the day time watching. Just logging back in again, European evening and taking trades for the next day. And that was it, really easy to do. A normal day So for me personally, when I’m not away, I tried to look at the four, six and eight hour chart changeovers during the daytime if I can. If I miss them, doesn’t matter, it’s not that important. And because not every time are you going to find a good setup. And if you miss some too bad. Trading is about longterm, it’s not about getting every single trade every single day, every single week, that’s not real. So look at it as an enjoyable thing to do, look at it in a more relaxed way, look at it with retracement orders, looking at the close of a candle. If you can’t be there right on the close of that candle with retracements, it doesn’t matter because generally you’ve got a long time before the trade will actually get filled anyway. So I hope that helps. Get away from the short time frame charts So try to get away from thinking about looking at one minute charts and five minute charts and 15 minute charts, it’s not fun, it’s not real, you can’t sustain it. And the reality is you’ll end up probably paying your broker more in spread costs than you’ll actually make. So be really, really careful with those short timeframe charts and try and get onto the longer, more enjoyable, more reliable charts from four hours and above. So I hope that helps. This is Andrew Mitchem at the Forex Trading Coach. I’ll see this time next week with more trading tips and information bye for now.