Online Forex Trading Course

Podcast: Becoming a Better Trader in 2020 In this video: 00:25 – 2019 has been an excellent year 01:01 – We post our daily trades every day of the trading year 01:50 – Other trades posted on our forum site and taken on our webinars 02:10 – How you can learn to take these trades by yourself 03:16 – Now living in Nelson 03:40 – What can you learn from your 2019 trading year? 04:22 – We aim to create good Forex traders 04:54 – Use the next few weeks wisely to help better yourself 05:27 – We wish you a fantastic Christmas and happy New Year What can you take from your trading year to help you become an even better trader next year? Let’s talk about that and more right now. Hey traders, Andrew Mitchem here at the Forex Trading Coach with the last video and podcast for 2019. 2019 has been an excellent year Now we’ve had a really good year, both personally and through the Forex Trading Coach and of course through our many thousands of clients dotted throughout the entire world. Had a fantastic year. The last few months have been a little bit tougher, but with trading you’ve got to take the bigger picture. Always look at that. Don’t worry about the last two or three trades. Always look at the bigger picture. And so this video is about what we’ve done and also what have you done, and what can you either get help with or what can you learn in order to make 2020 a really great year for you trading wise. We post our daily trades every day of the trading year So here at the Forex Trading Coach, every single day of the trading year without fail, we have posted our daily trades on our membership site. We’ve done that for years, but this year was no exception. Every single day around 5:30 New York time; PM when the daily charts close, we post our daily analysis. Now, if you did nothing else than just copied our daily trades this year with only half of 1% risk per trade, like very, very minimal risk, all the stop losses, all profit targets, you’d be up around 24% so far. We’ve got another week to go, end of today and all of next week, but we’re around 24% right now, which when you consider that’s purely one time frame, very low risk trading. That is very, very good. Other trades posted on our forum site and taken on our webinars Now on top of that, of course we post trades on the monthly charts, the weekly charts and on our breakout strategy that we have and all our forum site, we post trades all the time as do other clients. And our live weekly webinars, we’re always taking trades on those. But just the daily timeframe, 24% for the year to date, pretty outstanding. How you can learn to take these trades by yourself And so it’s what you’re learning from that is not only the gain of that monetary gain, it’s what you’re learning education-wise of how to take these trades. Why to take these trades, what trades to take, what to learn from them, where to put your profits and stops, all that type of thing. So really good. On the Forex Trading Coach website itself, free information has been posted free to everybody every single day as well. Strength and weakness analysis where we’re looking at different currency pairs going strong or weak for that upcoming day every day without fail this year we have posted that analysis as well. And it’s what we’re about, we’re about consistency about quality, consistency, low risk, high reward to risk. But for you to help you with your trading, that free information that is there and even if you’re not a client, free information is there. Of course clients get more and they get specific trades and to do with the strategy. But for everybody else, there’s free information there. There’s of course our ebook, our calculator, our webinars that we have, which by the way are on demand as well in there. So lots and lots of information to help you. Now living in Nelson From a personal point of view. We’ve moved to Nelson in the South Island just last week. So this is my new home, new surroundings here, and very much looking forward to spending the summer, of course it’s summer here around Christmas, new years in New Zealand. So looking at having a really nice break, just a break away from trading for a few weeks just to refresh and be ready to go for next year. What can you learn from your 2019 trading year? So what is it that you can do over that Christmas and new year break to improve your trading? What can you take from this year? Maybe things that you did well, maybe things that you didn’t do quite so well. What is it that you can take from that to become a better trader, a more consistent trader going into 2020 and beyond? Write down a few things that you’re struggling with. Maybe email me some questions. We’re here to help, so just reply to this email or look on the email that comes with this video or just send me an email, andrew@theforex

Podcast: Trading Forex from Anywhere In this video: 00:25 – We’re not geographically restricted 01:15 – All about Nelson 02:05 – What’s the freedom worth to you? 02:47 – Plan now as we head towards the end of the year The great thing about trading Forex is you can trade from anywhere. Let’s talk about that and more right now. Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 346. We’re not geographically restricted Now trading is quite unique… Not many businesses, not many industries out there that you are not geographically restricted with. It’s one of the awesome benefits of trading Forex. We are moving, so tomorrow is our last day in this area… It’s what’s called the Waikato. It’s a an area South of Auckland in the North Island of New Zealand. Been around this area, originally came here for dairy farming reasons and we’ve lived in this area for around 22, 23 years and it’s now time for a change. So by the time you get to watch this video and podcasts will be many, many hundreds of kilometres away. We are moving to Nelson, which is in the very top of the South Island. A big move. Lots to get done, but really looking forward to the challenge and and a change. All about Nelson So reasons we’re going there? Well, Nelson’s just a fantastic place in itself. It’s the sunshine capital of New Zealand. It’s right on the coast near awesome beaches, incredible scenery, absolutely amazing scenery. You’ve got mountains, you’ve got beaches. Craft beer capital of New Zealand, lots and lots of hops grown around there, which would suit me massively. The wine capital of New Zealand where you hear about the famous New Zealand Sauvignon Blanc is all around that area, the Marlborough area of New Zealand. So lots of great reasons to go there. Awesome weather for flying the helicopter and really looking forward to that. And my wife and our daughters are into horses, so great horse tracks, great horse weather as well. So lots and lots of good positive reasons why we are going there. What’s the freedom worth to you? But the reason I wanted to make this is to just say to you, look, what’s that worth to you? What does that geographic, or that lack of that geographic, restriction worth to you? You see all you need to trade really is like a reasonably good internet connection and a laptop. I mean you can trade even using like your phone… Not on your phone, but you know, you get your hotspot working on your phone and that’s all you need to power your laptop. So you know, it just has so many benefits. The ability to be remote, the ability to be wireless, the ability to be non-geographic specific. So again, what’s that worth you? What does that have as value? Plan now as we head towards the end of the year My suggestion is now as we’re heading towards like the end of the year is have a good serious think about that, you know, and what is that education, that knowledge worth to you to be able to go from maybe where you are now to becoming a Forex trader? But don’t expect to do it straight away. You know, this takes a long time to get to establish and get to work properly. So really it’s about that… What can you do now in the short-term? What can you do over, even like the Christmas/New Year time where you may have got a bit of time off work, you may have got a bit more sort of free time to be able to learn something new, to be able to study something. So that little bit of short-term work and effort right now for that bigger picture, longer term goal of that freedom or that financial freedom, that time freedom or that geographic freedom. So have a think about that and look forward to catching up with you this time next week where I’ll be making my video from Nelson. So after 22 years in the Waikato, the Hamilton area of, of New Zealander, it’s bye for now and I’ll see you this time next week in the South Island.   Click Here to learn how we can help you!

Podcast: The Value from Being Part of a Trading Group In this video: 00:29 – What happens when you join a group 00:59 – It’s a lonely business 01:25 – Feedback from our trading community 02:17 – What our new traders like about the course 03:23 – The value of being in contact with other traders 05:40 – No-one learns from being lectured 06:20 – Cyber Monday 2019 sale – a great opportunity Never underestimate the value of being part of a group of like-minded Forex traders. Let’s talk about that and more right now. Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 345. Got two really important points to cover in today’s video and podcast. What happens when you join a group The first is all about understanding and appreciating the value that you get as a trader when you’re part of a group. You see, when we start trading, we’re pretty much on our own. Most of us are on our own. We start on our own. We’re either working from home, you could be working from work as part of your office, on your phone, whatever it might be, but you’re generally working by yourself when it comes to your trading, your learning process. You’re researching online. You might attend a course, but then you’re back home after doing that course. It’s a lonely business So very lonely business, quite honestly. It really is. A lot of people don’t understand what it is that you do and a lot of people probably doubt what you’re doing is good and then you start doubting yourself. So a very lonely business indeed. And a lot of people give up with that and they start blaming the market or the broker and things like that. Feedback from our trading community Now, I wanted to show you some or discuss with you some information that we’ve had back from some new traders. You see here at The Forex Trading Coach, we value the whole community. Being part of a team, part of a big group of people, all are here to help each other and to help learn and to help each other becoming successful. That’s what we’re about, and it’s what we really strive to get out of, all of our clients are getting a part of a big group to all participate, all taking part. And as part of that we send out emails with forms, progress forms, to just basically checking on how people are going. Where they’re struggling with, where they’re going well, what that they need help with, that type of thing. And so I’d like to read three progress reports that have come through just this week from clients that have joined in the last few weeks. And it’s really interesting because what question number seven that we ask is, please tell me what aspects of the course you like the most. What our new traders like about the course So Brian wrote and said, “Look, I’m loving the video course and the transcription because it helps me with the key points, and certainly in the past I’ve struggled with these points about understanding a strategy.” And now he’s saying that with the video course he can go and watch them, rewatch the videos as often as he likes, and really understand the whole key strategy. So that’s from Brian. There was one here from Andrew made a number of points. Said, “I’m loving the position sizing and the money management and risk. It’s where most traders fail, and I now have a system I can understand. I’m also enjoying the candlestick analysis and price action. It’s just what I needed.” And a third point he says is, “One thing I’m really liking is the success stories that you put out there interviewing other traders who have struggled to make trading work for them in the past. Now they’re taking your course and have been able to become successful.” The value of being in contact with other traders So that’s from those two, but the one I really wanted to bring out here as part of the group is from Austin. And Austin says, “I like the forum a lot. While I feel that right now my trading abilities are lacking to contribute to it, it’s nice to get the opinion of the more experienced traders out there and talk through a potential trade. I really like the strategy of trading the longer timeframe charts as I work running my business as a builder. I can only check in a few hours throughout the day due to being in construction. I don’t have access on my phone, but it’s great being able to place trades on the weekly, and the daily and if the opportunity arises, on the 8, 6, or 12 hour charts in the morning. So great to be able to have that kind of feedback.” And so that’s just come through just here from people that have joined us recently. So what can you take away from that? Well, to me it’s all about the importance of being part of a group and how that can really, really help you. So never underestimate that. I th

Podcast: Not all candle patterns are equal In this video: 00:32 – Why are the candles not making me money? 01:10 – Understanding technical analysis to help your trading 01:55 – Taking the high probability trade setups 02:24 – What are we looking for? 02:55 – Further in-depth analysis 03:54 – The extras we look for and teach our traders to do 04:50 – Trading from the right hand side of the chart is when you make money from trading 05:30 – Moving house and Cyber Monday sale 06:25 – Register your interest in the Cyber Monday sale Not all candle patterns are equal. There’s a big difference between what works and what doesn’t work. Let’s talk about that and more right now. Hey forex traders, it’s Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 344. I want to talk about candle patterns and how I can help you to select the best patterns. Why are the candles not making me money? You see, I’ve received an email just this week from a guy who said, “Hey, Andrew, done lots of research online. I’ve been looking everywhere. I understand candle patterns. There’s 12 that I’ve identified. I spent a lot of time at my charts looking at them, taking trades off them, but the problem is I’m still not making any money. Can you help me and identify what my issue is?” Now, when I delved further into this, I realised that this guy six months ago started looking at candle patterns and he spent a lot of time looking at YouTube videos and just looking at sites online and forum sites, et cetera. Understanding technical analysis to help your trading He had done a lot of research in defining these 12 patterns, the problem is that not all candle patterns are equal. You need to understand that, and you need to understand a lot more information about technical trading rather than just saying, “Oh, here’s a pin bar, or here’s an engulfing candle, and I’m just going to trade it because it’s a pin bar or an engulfing candle.” You cannot do that. That will not make you money. You can go and look at your charts. Have a look at the chart behind me, there’s engulfing candles and pin bars and hanging man and all those different patterns that you hear about and candles that you hear about all over your charts. The problem is you can’t just take every single one of them. It’s just not going to work. There’s a lot more research, a lot more finesse that you need to do into understanding them and what makes a good candle pattern. Taking the high probability trade setups So for me, it’s all about getting high probability trade setting up. I want to take less trades, but high probability. What I’m grading is like A and A plus quality setups. Less is more, but it’s all about identifying what it is about that candle, where it occurs within the chart, what part of the chart it’s in, what the price is doing. It makes it from just an engulfing candle to yes, this is a high quality setup. What are we looking for? So it’s all about things like looking at the previous trend, has there been a trend line break? Has there been previous exhaustion? What level has the candle bounced at? If it’s a sell trade, has it bounced at a resistance level? Is that a random number or a pivot point? Is it a previous high? It could be all sorts of manner of things that we’re looking for, but it’s identifying that and seeing why that candle has bounced at that level. Further in-depth analysis You identify what potentially could be a good setup, and then it’s a case of, well, looking into that further, do I have stop loss protection? Am I just going to place my stop loss higher the candle or a fib level. But if you have things such as like round numbers in the way or previous highs or the pivot point or the middle Bollinger Band or things like that, things in the way of that candle. So if you’re taking a sell trade, if the price does retrace, which quite often it will do, is it going to then not go and hit your stop loss? So it’s understanding, do you have that in your favour? Exactly the same, but with the profit target. You’re looking for a sell trade, and you’re looking for the price to head down. What is in the way of your profit target? Hopefully nothing or not very much, but you can’t put your profit target if it’s obviously below the last swing low or below the pivot point or below a round number, things like that. You want to do yourself a favour and give yourself a high probability chance of success. The extras we look for and teach our traders to do So when I’m analysing and when I teach people to analyse candle shapes, candle patterns, it’s not just about, “Here’s an engulfing bar, take a sell trade.” There’s a lot more that goes into it than that to give yourself a good, high quality chance

Podcast: How to Protect Your Capital In this video: 00:46 – You must preserve your capital 01:08 – To help as many traders as we can 01:37 – 10 years of profitable trades on our membership site 02:51 – Forget about making pips 03:17 – The problem with most traders Looking to protect and preserve your capital is key to becoming a good trader. Let’s talk about that and more right now. Hey, Forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 343. I thought I’d come outside today. We’re still in Cambridge in the North Island. Cherry blossom throughout the entire street, absolutely beautiful in springtime this time of year. We’re moving down to Nelson in the South Island at the beginning of December. So while here, I thought I’d just come outside and take advantage of this. So, if you are on the podcast, sorry, but you can’t see the beautiful trees behind me. You must preserve your capital Let’s get back to the topic in hand about preserving capital. You see, most traders lose capital. It’s hard money that you’ve earned to get into your trading account. Why blow it? Why do stupid things to throw it away? As traders, we’ve got to understand that we’re in a business here. You’ve also got to understand that the stats suggest that about 90% of traders lose money. So, here at the Forex Trading Coach, we’re about turning that around. To help as many traders as we can Our mission is to help as many traders as we possibly can. And our mission, also, is to help traders preserve their money, preserve their capital, so they can enjoy trading and understand and gain the benefits that trading offers, but only once you understand and know what you’re doing and have confidence in your strategy. There’s many things that we do here at the Forex Trading Coach in order to help our clients, not only have a strategy, of course that works, is that we post daily trades each day of the week. 10 years of profitable trades on our membership site And over the last 10 years I’ve been publishing those trades every single day for 10 years of the trading week. And do you know, not one single year have we lost money? Every single year for 10 years we have been profitable. Now, the power of compounding, and you probably know about it. If you took $100,000 back in February 2010 when I started posting those daily trades, today here into November 2019 your $100,000 with compounding, and only risking half of 1% of your account per trade, your $100,000 would now be worth 1.65 million. Quite outstanding considering they are all trades that have been published. They’re all trades that take about maybe 5 to 10 minutes once a day for you to put on your platform. And it just shows the power of compounding, the power of high reward to risk trades and the power of low risk per trade. And that’s, again, comes back to preserving capital. Because we have live webinars. In fact, I’m holding one tonight for clients in the European session. It’s night my time. We have trades posted on our forum site. We do all these things that we can to help clients understand what good trading is all about, and to actually help them to earn while they learn. Forget about making pips But the other thing is, of course, you never hear us talking about pips. Never do we talk about, “Oh, we’ve made this number of pips,” because it really doesn’t matter. For us, it’s about having low risk per trade. In other words, a half percent risk per trade maximum. High reward to risk. So, if we’re making a three to one, let’s say, it means we’re risking half a percent and if we have profitable trade, we make a 1.5% account gain. And that is really, really important that you can do that. The problem with most traders And also, there’s a phrase that someone told me the other day, and it’s a really good phrase. And it was about the problem with most traders is that most traders, unfortunately, they lose their money like they’re on an elevator and they gain money like they’re on stairs. In other words, big drops, small incremental gains. And what we need to do and what we try to do here at the Forex Trading Coach is to turn that around. It’s really important that you do that. It’s really important that you have high reward to risk trades, and it’s really important that you gain like an elevator, good fast gains. And then when you have losses, which we all do, we have small incremental losses. Small losses, big gains. And that’s what good trading is about, that’s how you protect your capital. So I hope that helps. Once again, this is Andrew Mitchem here at the Forex Trading Coach. I’ll see you this time next week with more trades and information to help you becoming a great trader. Bye for now. Click Here to Learn How we can help you

Podcast: Should You be a Forex Scalper? In this video: 00:27 – Is scalping a good idea? 01:22 – The reality is different 02:22 – Having small stops is not important 03:09 – Can be affected by news and emotions 03:26 – Sustainable and enjoyable trading 04:26 – Don’t get glued to the charts 05:30 – Don’t forget the US clocks change this weekend 06:13 – Email me your questions Should you consider being a Forex scalper? Let’s talk about that and more right now. Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 342. Is scalping a good idea? I want to talk all about scalping. You see, I’ve received an email this week from somebody that said, “Look Andrew I’m new to trading but I’ve heard about scalping. It looks really, really good. Should I be a scalper?” They said the advantage is that they saw is that your stop/loss needs to be smaller, it’s quicker to make profits, to make your pips. You can actually be in and out of a trade really, really quickly. They thought it was just a fantastic way of trading. Now, the part to take from that is the person who wrote the email hadn’t really traded yet. But it just sounds good in theory, doesn’t it? The difference is that in reality, to me in my opinion, scalping is not the way to go. Now, I’m not saying it doesn’t work and of course it can work. It’s like anything. It can work if you want it to and if it suits you as a trader with your personality. However, I would strongly suggest that for most people you don’t look at scalping. The reality is different You see the thing is your stop/loss being smaller, that doesn’t matter if you control your risk properly. Making more pips and making pips quickly, well you’re making pips it doesn’t matter really to you if you’re making a trade in like sort of two minutes or whether it’s two hours or 12 hours. It shouldn’t really matter. The aim is to actually make the profit, not how quickly you can do it. Also the thought process of scalping of being in and out of the market really, really quickly, the problem is is that reality is that you have things called spreads. Every time you take a trade, the spread or the commission is paid to your broker and if you imagine you’re taking, let’s say for example a 10 pip profit target, but your spread is two or three pips, that really cuts into the trade. Of course, to make 10 pips you’ve really got to make 12 or 13 because of your bid and ask differences. So it becomes a real issue. Having small stops is not a great thing. Having small stops is not important It might sound good because you think you’re losing less, but the thing is that if you actually use correct money management, your position size is what effects the outcome of the trade. It shouldn’t really matter whether the stop is 10 pips or 100 pips. It doesn’t matter. So the other hard thing I’ve always found in the past is that reward to risk out of scalping trades is very, very difficult. If you think you’re going to have a small stop/loss of let’s say call it 10 pips, and reality is therefore you’re only sort of seven or eight pips away from being stopped out as soon as you place the trade, because again the spread, you’ve got to get yourself like 20 to 30 pips out of that trade to get yourself a two or a three to one reward to risk trade. Now that’s all the technical trading side of it. Can be affected by news and emotions You get news and events, you get spikes in the spreads, et cetera. All those type of things that really if you have a small stop/loss or you’re in and out of a trade real quickly, emotions come into it. All those things come into it that are a bigger picture of reality than the theory. Sustainable and enjoyable trading Also, is it sustainable? So here at the Forex Trading Coach, I’ve been posting on our membership site for nearly 11 years, every single day without fail, the daily trade suggestions that we post to our members. So after 11 years of doing this, I can promise you the only reason that I’m still doing it now and still enjoying doing it is because it’s manageable and sustainable because it’s looking at the daily charts once a day. By the way, every single year to date, including this current year 2019, we have been profitable every single year on our daily trades, without fail. So the reality is most people out there when they start trading they think they want to become full time traders straight away. The reality is that’s not going to happen. For the vast majority of people, that’s not going to happen. You can become a full time trader but it will take time, dedication, effort, commitment to get to that stage. Like with anything. Don’t get glued to the charts So think of it this way: if you’ve gone into trading, most likely you&#8

Podcast: Having the Right Mindset to Trade Well In this video: 00:29 – Controlling your emotions as a trader 01:12 – Made money every year since 2010 02:06 – The problem with a small sample of trades 02:42 – Look at the bigger picture 04:49 – Understanding win rates Trade psychology is a massive part of trading, and it will make a huge difference to your overall success if you can master it. Let’s talk about that and more right now. Hey, Forex traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 341. Controlling your emotions as a trader I want to talk about a very, very important topic, and it affects probably most all traders. It’s all about trade psychology, and how you can control your emotions, and how what goes on in your head has a massive impact on the overall outcome of your Forex trading journey, whether it’s going to be successful or not. It comes down to a few things that you can do to help yourself and improve things. You see, unfortunately, as traders, most people expect instant results, winning trades, high win rates. They don’t like losses, they cannot accept losses, and they jump from system to system. Unfortunately, people do this all too often and all too quickly. Made money every year since 2010 And I even see it here at The Forex Trading Coach. If you did absolutely nothing else, if you joined our course, did nothing else other than copy my daily trade suggestions each day of the week, which was going to take you five minutes once a day at most to do, you’d make money. Absolutely guarantee you’d make money, and how do I say guarantee that? I know that because since 2010, every single year, we have made money on those daily trade suggestions, and so it just shows how big an impact psychology and your mindset is because it doesn’t matter how many graphs I can show people of all these winning trades consistently over time. People still decide to offer a couple of losing trades to give up or to change systems, or it doesn’t work, and it’s a real shame because we’ve proven that. The problem with a small sample of trades You see, the problem is if you strike a system and have like a small sample of trades, and you have some winning trades, you think the system is marvellous. You strike that same system and have a small sample of a few losing trades. You may have been seeing all these previous fantastic trade results that someone like myself has shown you, and then you go and trade the system live, and you have a few losing trades or even a losing month, and people give up. That’s a real problem in trading. it really is a massive problem. Look at the bigger picture You see, you have to look at trading as a bigger picture, even on our daily trade suggestions. By the way, there’s just one timeframe chart. That’s all this is. You’ve got all the other timeframe charts that we talk about that we post on our forums site, on our live webinars. We put the weekly and monthly chart trades on our membership site as well. I’m just talking about one timeframe chart, daily trades. That’s all. That has made money every single year since 2010, and so it’s just mind-blowing why people don’t just continue to follow that. You would have made money month after month. I went back through my records just now. The biggest losing months since 2010 was in February 2014 when we lost 5.15%. We went backwards just on the daily trades, 5.15% negative. That’s the very worst we have done, and here we are almost at the end of 2019. That’s the worst because we’re trading with low risk, half of 1% risk portrayed, high-reward risk, so it’s a proven H, and as I mentioned, one timeframe. That’s all that is. You can go on and take the same strategy, the same methodology against all other timeframe charts when you see suitable trade setups. So it really is amazing how that can affect people, but it’s important that whatever your strategy, whatever your system, you analyse it over time. You look at a big sample of trade numbers. You look at a big period of time, length of time before making that decision to go, “You know what? This doesn’t work. I’m going to change on to something else,” because small samples are dangerous. Random events happen too easy to say, “Yeah, this is magic,” or too easy to say, “This is terrible,” so you need to have a good strategy with an edge, with high reward to risk. That’s exactly what we have, and it’s proven since back in 2010. I’ve been trading that personally since way before that, but on our membership site, we have all the trades taken back from that date right through to today. Understanding win rates So understanding win rates, accepting that your win rate is not always going to be massively high. Don’t worry about having a win rate of 90% winning t

Podcast: Why Courses Do Not Work In this video: 00:22 – What do you get with a course? 00:41 – Someone I follow 01:22 – No-one needs more information 01:50 – What do you get at TFTC? 02:52 – Get access to our wisdom and knowledge 03:57 – Contact me with your questions I’m going to explain to you why courses do not work. Let’s talk about that and more right now. Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 340. What do you get with a course? This is all about why courses do not work. Now, you might be thinking, “Hey Andrew, that’s a little bit odd. Bit of a strange topic of conversation coming from you, as someone who is online, who actively has a course. And now you’re telling us courses do not work.” Let me explain more. Someone I follow I follow a guy online who has courses online also. Nothing to do with trading. He’s more of a business coach. But an email came through from him yesterday and it’s all about why courses do not work. I’d like to just read a little bit from that email to explain further what I mean and how it can also help you. Here we go. He says, “I bought courses all the way from $7 up to $35,000. Some were great, some were terrible. But after spending over $100,000, I have to confess, courses do not work. But often they do give you something that does work, and that is access.” I’ll explain more. He goes on to say, “You see, none of us really need more information. No-one needs more information We’re overwhelmed, overloaded with information. It’s everywhere. Most of us are drowning in information. But more information, what that does, that leads to options and options leads to confusion. However, when you have access, that gives you the thing that really initiates change, and that’s wisdom.” And he says, “Wisdom is simple, applied knowledge and experience. But more information gives you more options or confusion, where a specific wisdom gives you clarity.” What do you get at TFTC? So it got me thinking. Here at The Forex Trading Coach, what do you really get? Well, of course you’d get a course and a strategy and software and webinars and all that type of thing that you know that you’d get and know that it’s good because it’s been around for 10 years and it’s got a five star rating. But what you really get is exactly like that email says. When you join us at The Forex Trading Coach, what you do get is access to wisdom. You get access to full-time traders. You also get access to other people just like you who’ve thought about investing in a forex course and actually have gone ahead and done that, who are now actively trading the system. So you have access to ourselves as full-time traders and mentors and coaches, but you have access to that wisdom of other people all around the world who are sitting at home just like you, who want to become good forex traders. Not everybody wants to become full-time, but people just want to master the art of trading forex. That is the wisdom that you do get access to as part of The Forex Trading Coach community that we have. Get access to our wisdom and knowledge When it comes to us as full-time traders, you’ve got myself who’s been trading 16 years, we’ve got Paul over in America who’s been trading since 2005, so 14 years, we’ve got Mikalai based in London who’s been trading since 2012. That’s what, seven years. So all up, 37 years between us. I’ve been coaching for over 10 years, but 37 years of knowledge and wisdom from just the three of us as traders. Then on top of that, all the knowledge and wisdom from active traders just like you. So have a think about that conversation, that email where he says, “Courses don’t work, but they give you access to clarity, access to wisdom.” That is really, when you think about it, what you get when you join a well respected and well established trading course. I hope that helps. Just a little bit of a different take on things this week. But just if it may just get you thinking about the actual value that you get, access to that knowledge and that wisdom, it’s really important. So I hope that helps. Contact me with your questions If you’d like any other topics discussed, just send me an email. [email protected]. I’ll see you this time next week. Bye for now.   Click Here to Learn How we can help you

Podcast: Where to Place Your Profit Target In this video: 00:24 – Trading from Nelson, NZ 00:48 – We talk about stop losses but what about profit targets? 01:30 – What you should not do 02:10 – How do you know where to place your profit target? 04:14 – Trading the longer time frame charts 06:07 – Contact me for more details about how we can help you Do you know where you should be placing your profit target and why you should be placing your profit target at that level? Let’s talk about that and more right now. Hey, traders. It’s Andrew Mitchem here from The Forex Trading Coach with video and podcast number 339. Trading from Nelson, NZ Coming to you from Nelson in the South Island where we’re just setting up here. I’ve got a webinar tonight for clients, and just setting up in a new property that we’re moving into, and not quite there yet. We’ll be here properly in a couple of months from now, but just getting things set up in the office here. Hence the change in the background and just the two screens, not four. We talk about stop losses but what about profit targets? So yeah, we want to talk about profit targets. We talk a lot about stop losses. And stop losses, of course, are very important, because without a stop loss you’re not protecting your trade, and without knowing where you’re putting your stop loss, you don’t know the position size you need, the lot size you need to keep your risk equal. But also another very difficult part of trading is where to put your profit target and why, and how do you decide where to put your profit target? What determines that? Does it determine by the currency pair, the timeframe, the conditions at the time? What is it that you do to determine that? And you can’t just sort of make it up on the go. You’ve got to have a bit of a plan about this. What you should not do And also, we talk a lot about high reward to risk trades, and it’s very important that you don’t just go, “I’ve got a 20 pip stop loss, so I need to put a 40 pip or a 60 pip profit target,” simply because you hear me talk about you need a two or three to one reward to risk trade. It’s important that you don’t do that. Yes, you need high reward to risk out of your trade, but you need to also put your profit target at a level that’s a sensible level for a reason for that trade at that time. And that might be different depending on the currency pair or the timeframe, market conditions, et cetera. So how do you know? How do you know where to place your profit target? So it’s really important that we get this right, because, of course, it can make or break your trading performance. And the whole point of a profit target is is when the price gets there, the market closes you for a profit and you haven’t got to be at your computer worrying about the trade being open and those type of things. So it’s important that we do that. So, how do we approach that? Well, because we’re technical traders, we’re always looking at price action and we’re looking at charts. It’d be very difficult as a news trader, I would imagine, to know exactly where to put your profit target, because it depends on the reaction of that news, things like that. Whereas technical traders, we’ve got a lot of things that’s actually in our favour. We can see, let’s say you’re taking a buy trade, of where the price last bounced. For example, where’s the next likely resistance level? But the approach that we take at The Forex Trading Coach is two-fold. So if we’re trading, and we split our trading up. If we’re trading one-hour charts and shorter, which, to be honest, personally I don’t do a lot of, but if we were, we’re looking at current market momentum, we’re looking at what’s happening in the market right now, because on an hour chart or a 15-minute chart, you don’t want to be worrying about retracements and things like that. You want to get in at the market because you’re trying to ride the current momentum at the time. So it’s very important with the market order that your profit target is placed at, let’s say, by trade, before a previous swing high or below the next round number. You don’t want to be sort of trying to have your profit target through the pivot point, let’s say, as an example. Things like that. So you always want to bring your profit target for a buy trade on a hour chart or lower below the next likely stalling point, the next resistance level. Really important that you can do that. And, of course, we teach how to do that. On my webinar that I’m holding tonight, I’m sure there’ll be some trades I’ll be taking on hour charts or 15-minute charts, and we’ll be doing just that. Likewise, of course, for a sell trade, make sure your profit target is before

Podcast: You Must Have Patience as a Trader In this video: 00:23 – The importance of having patience 00:48 – Examples from this week 02:02 – Don’t take trades just to undo your good trades 03:06 – Less is more 03:46 – What will happen next week? I’m going to explain the importance of patience as a Forex trader and why you should not chase trades. Let’s talk about that and more right now. Hey, Forex traders. Andrew Mitchem here from the Forex Trading Coach with video and podcast number 338. The importance of having patience I want to talk all about having patience as a Forex trader. It’s really important. You see, we work in this business, this industry that’s online, that’s high paced, that’s open 24 hours a day, five days a week, and we’re always there looking for traits, or that’s what most people think they should do. In fact, it’s the opposite. You need to be patient, you need to wait for those high quality setups, and often doing nothing is the best thing you can do. Examples from this week I’ll give you a great example. Just this week, we’ve got leading into the US non-farm payrolls, which is the US monthly job release later today. But up until now, this week’s been quite a difficult week to trade, being a lot of quiet market conditions, not a lot of very good price action there. And so for us personally at the Forex Trading Couch, we’ve had a fantastic week trading the weekly chats. We’ve got a pound year in trade that’s up 3.4 to one right now. It’s a 1.7% account gain. Trade’s still open, and we’ve closed on a weekly chart trade from last week, which was an Aussie US dollar trade, 2.8 to one or 1.4% account gain, and also we’ve got a New Zealand yen trade open at about a one-to-one right now. So just on those three trades, fantastic gains, yet we’ve done hardly any trading. We’ve had a few trades on the dailies and other timeframe charts, but it’s been particularly quiet, but we’re still in very good profit and that’s the important thing. This week it’s been and last week it’s been the weekly trades that are done very well. Other weeks it’s different timeframes. Don’t take trades just to undo your good trades But the important thing is it comes back to that being patient, don’t … think of it this way. What’s the point in taking lots of trades this week that end up losing just to do and give back to the market all that good results that you’ve had from just two or three trades? Why would you do that? It just doesn’t make sense. And so patience is key. Wait for high quality setups. Don’t feel you have to be in the market all the time in order to be a trader and to do well. It’s about the high quality, A, A-plus grade setups, having all those things in your favour according to your strategy. Like I said, you know, some weeks you’ll get nothing. A lot will happen. We’ve had indecision candles, we’ve had some very big moves, but not really good setups. Other weeks you’re just going to get trade after trade after trade, and when that happens, take them. That’s the thing. You’ve kind of got to make hay when the sun shines, to use a phrase like that from my early agricultural days. But it’s really important that you do that. Less is more But don’t go forcing trades. At the end of the day, if you can make two or three percent in a week, it doesn’t matter if you made those from a hundred trades or from four or five really good trades. It doesn’t really matter apart from I know that if I can make that on four or five really good trades, I’ve paid less spread, I’ve had far less work to do, far more enjoyable trading week, less stress, less time, everything else. It’s which way you want to go. Do you want to be in the market all the time constantly being stressed, constantly looking for new trades all the time, just being constantly looking for new things, getting tied to the screens, getting tired, getting frustrated, or do you want to sort of look for just a handful of setups as and when they come? What will happen next week? Next week we might be getting trades on all sorts of different time frame charts. This week it’s been specifically the weeklies that have made us the good money. So again, be selective. Be careful with the trading. Don’t give away all your good work back to the market just because you feel you need to be in trades all the time. Despite that noise in the background, I hope you can still hear me. This is Andrew Mitchem once again from the Forex Trading Coach outside, as you can tell, making this video, but yeah, have a great weekend. I’ll see you this time next week. Bye for now.   Click Here to Learn How we can help you

Podcast: The Best Indicator to Use as A Forex Trader In this video: 00:23 – Indicators and the best one to use 01:20 – The problem with traders and indicators 01:56 – What works for you? 02:23 – Starting with a blank chart and look at the price 04:00 – Use horizontal lines 04:40 – Send me your trading questions What is the best indicator you can use as a Forex trader? Let’s talk about that and more right now. Hey Forex traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 337. Indicators and the best one to use And I want to explain all about indicators and more importantly, which is the very, very best indicator that you can use to be a profitable Forex trader. So let’s talk about that. There’s a lot of information here. And it all stems back to when we start trading. And when we start trading, and I did exactly the same, you put your charts up, you find a trading platform, let’s say MT4, it was MT3 when I started, or it may have been two. And you put the indicators on and you just get completely mesmerised by them. I was, I was completely mesmerised by how powerful these indicators were, how amazing they were. It’s like nothing I’d ever seen before. And all I needed to do was follow this line and when that one crossed over that and it reached this certain level, then if I just followed those and did nothing else, then there was nothing sure that I was going to be a multi, multimillionaire from my trading really quickly. Absolutely guaranteed. The problem with traders and indicators You’re thinking there’s a catch and of course there’s a cash. The problem is that doesn’t happen and like I said, I’m just saying that I’ve been through this as well. So if you’re in that position right now, believe me, I know exactly what you’re thinking because these indicators do look really cool. The problem is is that none of them really work by themselves and that becomes the problem. There is no one indicator that is the magic pill. Sorry to say it, but it’s true. You cannot find any indicator. They’ve all got some merits to some degree, but by themselves they’re all completely useless, the whole lot of them. What works for you? And so you have to work out something that works for you because most people will then go and think that they can alter the parameters of an indicator or make it more reactive or slightly slower. Or they’ll have some magical formula of all these combinations of indicators that’s suddenly going to tell them this magic secret answer when to enter and exit a trade that no one else has ever discovered before. And again, if you’ve been doing this for a while you know exactly what I mean, because I know you would have done the same yourself. Starting with a blank chart and look at the price So bring all that back to what changed things around for me. And it was when I actually got rid of all the indicators of my charts and I actually started to look at the price. You see the problem is, is when you have all these indicators together, everybody ignores the price on the right hand side column of your charts. How often do you actually look at what the price of a currency is? It’s probably hardly at all. It’s probably never for some people. And that becomes the danger. So what I did is I eliminated all the indicators. I looked at the price and I looked at where the price was moving. I then started to study candles. But also when it comes to indicators, yes I do use them but for me indicators are generally horizontal level lines because a horizontal line is the same for everybody. It’s there set, when a price has hit a certain level or it’s bounced at a round number or it’s hit the pivot point or something like that for the day, then that’s a level that everybody can use. And I don’t have to be kind of like subjective by it because it’s an actual level. And that’s where I find, you know, those are the kinds of indicators that really are the best because then it’s about discovering well what part of the chart is the candle in right now? Now you still need to understand candles and to be honest, they are probably some of the very best indicators you can get because they’re actual what’s happening right now. They don’t sort of manufacture themselves based on what happened hours and hours or weeks ago. Like most other indicators that all move beautifully, but they lag. Use horizontal lines So understanding horizontal levels, understanding price action, understanding candles, probably three together are the very best indicators that you can use. My honest opinion is that most indicators out there, you should probably not use on your charts. They will just confuse you, they will cause analysis paralysis. Bring it back to basics and bring it back to what the professionals trade

Podcast: What’s the Best Time of Day to Place Trades? In this video: 00:24 – When should I enter trades? 00:55 – How the FX day runs 01:20 – Do I have to trade the London and US Sessions? 02:12 – Is trading the Asian session a disadvantage? 02:32 – The way we trade at TFTC 03:04 – Look to take retracement orders 03:44 – Look at the close of a candle for a new trade 04:18 – The best time to place trades 05:14 – Ask me a question for a future video and podcast What’s the best time of day for you to place your trades as a Forex trader? Let’s talk about that and more right now. Hey traders, it’s Andrew Mitchem here from the Forex Trading Coach with video and podcast number 336. When should I enter trades? And it’s a question that I get asked very often, especially by newer traders. The question is this, is that, “Look, I know the market’s open 24 hours a day. I know that it’s open five days a week, but really what is the best time for me as a trader to go and enter my trades?” It’s a confusing subject because as I said, we know it’s a 24 hour market, but we also get told so often about different times of the day when there’s more price action than less. How the FX day runs So the day starts in the Auckland session and then which is in New Zealand and through to the Sydney session, and through to Tokyo that’s generally classed altogether as the Asian session, then as the markets then go through to the Middle East and then through to Europe, London and then across to the US with the New York market opening last. Do I have to trade the London and US Sessions? When you think about it, when it’s say middle of the day here in New Zealand, it’s the middle of the evening, the nighttime in London. So a lot of people think that that’s a disadvantage because a lot of people think that they have to be at their computer when there are certain trading sessions going on. In other words, a lot of people think they have to be at their computer during the London session, so for me that means evening time. If you’re in America, that means being up at two or three o’clock in the morning. Then also people leading on from that think they need to be there at the swap over between London and New York. For me that’s two o’clock in the morning also, and I’m not doing that. You don’t have to do that. But you can see where the confusion comes because that’s what people think they have to do. They have to be there when there’s the most price action and volatility, and news announcements. Is trading the Asian session a disadvantage? Likewise, for people this side of the world, they think, “Well, it’s my daytime during the Asian session. Well, nothing happens during the Asian session. It’s usually pretty much dead.” The odd day something will happen, but most of the time, not a lot happens in the Asian session, and so people see that as a disadvantage. The way we trade at TFTC However, forget all that thinking and start again with the thinking. Because the way that we trade is that we only take a trade or look for a new trade upon the close of a candle. It doesn’t matter what the candle length is. It could be a monthly chart, it could be an hourly chart, it really does not matter. But the beauty of trading that way is you know when to go and have a look at your charts. So we know that the daily candles close at 5:00 PM Eastern standard time, that’s New York time every day. So you know when to go and look at your charts. Look to take retracement orders Because of the way that we trade, we take retracement orders. We don’t even have to take a market order. You don’t have to, so you don’t have to be there bang on five o’clock New York time or five 30 you don’t have to be there right then. We’re taking retracement orders, and the great thing with a retracement order is we’re not even there at our computer when the trade gets filled because it gets traded, and entered, and filled when the price gets to the order level that we’ve already preset sometimes hours ago. So it doesn’t really matter what the session is when that happens because I’m not there anyway. I’ve set my trades up, I’ve set my orders up, and I let the market do its thing. Look at the close of a candle for a new trade Now, as I’ve mentioned many times, if you are trading say four hour charts, you know when to go and look at your charts. You look at the 5:00 PM New York time, and then you could look at nine or one, or five again, or nine. It depends on which of those you can or want to look at your charts. If you’re trading 12 hour charts, you just need to look twice a day, 5:00 PM and 5:00 AM New York time, or just after that time. Again, entering with limit orders, retracement orders, you don’t have to be there. The best time to place trades So

Podcast: What Makes a Good Forex Trader? In this video: 00:24 – Characteristics of a good Forex trader 01:08 – Results from trading and travelling 01:56 – The Person, the Trader 02:31 – The amount of work behind the scenes 03:05 – What you need to become a good trader 05:15 – Don’t be scared to take a trade 05:58 – Forget the money, focus on the percentages 06:58 – Contact me if you have any questions So you want to become a forex trader, but what makes a really good forex trader? Let’s discuss that and more right now. Hey traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 335. Characteristics of a good Forex trader And I want to give you some information about what makes not just an ordinary trader, but what makes a really, really good forex trader. What characteristics do they have that other traders don’t have? Because everybody has the dream when they start trading of flashy, fast cars, or beaches, or travelling, and all those kind of things. And look, it can be done because it doesn’t matter whether you want to be trading for the enjoyment of it, for the passive income, or for a full time career because you hate your job. It doesn’t really matter, any of those, because there’s characteristics that make good traders and bad traders. Results from trading and travelling And if you’ve been following me over the last few months, you would know that in July I had a family holiday, or vacation, if you’re in the U.S., over to the U.K. and Europe, and in that time I traded for 10 to 20 minutes once a day, took the trades that I placed on my membership site, and we made over 6% in the three weeks I was away and made another 6% in the two weeks that I got back. If you watched my video and podcast from last week, you’d know that we made plus 7.4% in the week on the membership site, all with low risk, by the way. And this week, we’re up by 1.7%. So it can be done, and the trades are there, the setting up; everything’s all able to make your money. That’s not the difficult part. Results from trading and travelling The difficult part really is about the person behind the scenes, the trader. You see, we all see sports people or musicians, people that we idolise, and we see them … whether you watch tennis or soccer or cricket, whatever it might be, or whether you watch your favourite band, your guitar player, your drummer, and we will idolise them. We all think, “Wow, wouldn’t it be awesome to be like them,” or, “I can be like them. Wouldn’t it be amazing to be up on stage playing guitar or be the lead singer and everybody just idolising you?” The amount of work behind the scenes The problem is, is that we fail to recognise all the work that goes into their lives, get them to have those skills to get to that stage where they are so good. And it’s a big failing, I suppose, that we see the instant answer everywhere with modern technology and social media, et cetera. And if you’re the sort of person that gets excited by the next shiny object, then trading really is not for you because it’s likely that you’re not going to end up having the right characteristics. What you need to become a good trader Now what you do need to be a good trader is a number of things, and I’ve made a list of them here, in no particular order. I put strict. You have to be strict. You have to be strict with your strategy and sticking to it. You have to be disciplined of trading sort of when your strategy suggests you need to be trading, and keep doing it. You can’t go, “Oh, yesterday I had a terrible day, I’m not going to bother trading today.” If the trades are there, you take the trades. You’ve got to be able to study. Like the sportsman, like the musician, none of this comes instantly. None of it’s like they took up singing lessons two weeks ago and now they’re on stage as a superstar. That’s not how it works. Trading’s no different. You have to study, you have to put the time in up front. Consistency. You have to be consistent. You’d notice that the free information that I posted on my website, it’s there consistently everyday at consistently the same time. You’ll notice that these 335 videos that I have now consistently made on the same day and I notify you about them consistently on the Monday at the beginning of each next week. When I place my daily trades, it’s consistently on my membership site; it’s been for the last 10 years. It doesn’t matter where I am in the world, they are there every day. So consistency is very, very important. There’s other things like that: the low risk side of it, the high reward, the risk, that’s the trading side of it. But there’s lots of other things about the characteristics. Don’t be too emotional. Sure, it’s great to

Podcast: Another +7.4% Gain This Week In this video: 00:28 – A large gain of +7.4% so far this week 01:01 – Trading different time frame charts 01:25 – Trades from this week 03:11 – Open trades still in profit of +1.2% 03:55 – Sticking to your strategy 04:38 – Your comments and questions 05:02 – Earning while you are learning We’ve made a plus 7.4% account gain so far this week. I’m going to share with you those trades, and also explain the importance of sticking to your trading strategy. Let’s get into it right now. Hi, Forex traders, Andrew Mitchem here from the Forex Trading Coach video and podcast number 334, and that’s right, you heard it right. A large gain of +7.4% so far this week We are up plus 7.4% so far this week still with a trading day to go on our close trades, and we’ve got open trades of another plus 1.2%, so almost at 10% just for this week. I’m going to share those trades with you, but also more importantly, remember the last couple of weeks on the videos on podcasts, I’ve talked about the importance of a second tier trading strategy and also having the ability to trade multiple timeframe charts? This week yet again has illustrated that importance. Trading different time frame charts The last couple of weeks I’ve said, “Look, there’ve not been too many high quality trade setups on the daily charts.” This week’s completely different, fantastic trade setups, and we’ve had some great profitable trades. I’d like to just share those with you. By the way, all of these have been taken live, and all of these have been posted in advance of the market moving on our membership site for all of our clients to follow, earn from, and learn from. Trades from this week So we had a sell trade on the Euro/New Zealand Dollar. Our market order obviously got filled because it’s at the market, but our retracement order got filled. Both were great trades overall with quarter percent risk on each. We made a plus 1.75% gain on our count from just that one position, two trades, one overall trade set up. We then also did exactly the same on the US/Swiss Franc. We had a sell trade on that. The market and retracement order both hit the full profit target for a plus 0.95%, so almost a 1% gain there. We had a small loss on a market order on the Pound/Canadian dollar, and that lost us a quarter of 1%. We’re risking quarter percent at the market, quarter percent at retracement. We then had a fantastic trade at 2.1 to one trade on the market order on the New Zealand US dollar just yesterday, made us a half of 1%. Our retracement order failed to get filled by just one pips, so agonisingly close, but it didn’t, but we still took half percent on that. We had our breakout strategy that made another 1.5% gain this week. The Euro Pound weekly chart trade that I’ve been talking about for the last two or three weeks closed for a 3.3 to one reward to risk or in other words at 1.65% account gain. We’ve also posted on the membership site a fantastic six hour chart trade, and we discussed it on our live webinar just yesterday posted on our forum site in advance of the price getting filled, and that was a six hour chart trade Aussie/New Zealand buyer trade 2.6 to one, or in other words a 1.3% gain on that trade also. Open trades still in profit of +1.2% Also, on top of that, we’ve got an open trade on the Pound New Zealand, which is up half of 1% right now as I’m speaking to you. I’ve got two trades on the weekly charts, US/Yen and Aussie/Franc up 0.7%. So overall, put all that together, we’ve made 7.4% on close trades and up 1.2% on open trades, 9.6% gain just on those trades, just on the membership site, just for this week. The Euro Pound was a few weeks ago. We took it but it’s closed, and we profited from that full. profit right now. That was the weekly chart trade, but all the others were actually posted this week as well, fantastic trading. Sticking to your strategy The lesson to take from that is sticking to your strategy and sticking to multiple timeframe charts as mentioned, it’s really, really important that you do both. Not every week like last week will the four hour charts be fantastic. Not every week like this week will the daily charts be fantastic, or the weekly charts, not every week will they be fantastic. But you take a combination, and a blend of all those different timeframe charts, and you stick to your trading strategy, and you have high rewards risk trades like I’ve just showed you here, and you have low risk per trade, and it works. That’s pretty outstanding. We could easily talk on close trades this week, 10% gain in one week, shows what can be done. If there’s anything you’d like to know about those trades, or if there’s anything that you’d like me to talk out on future videos and podcasts, just send me an email to andrew@theforextr

Podcast: Why We Trade Different Time Frame Charts In this video: 00:29 – The benefits of trading multiple time frame charts 01:14 – Being flexible as a trader 01:55– Looking at your charts 02:19 – Trading examples from this week 03:25 – High quality trading setups on the H4 charts 03:55 – Live trades taken on the webinar 05:05 – Great results from different time frame charts 06:02 – Trading like this doesn’t require much time in a day I’m gonna explain to you today why we choose to trade a variety of different timeframe forex charts. How it helps us and how it can massively help you to improve your trading results. Let’s get into that and more right now. Hey traders! It’s Andrew Mitchem here, from The Forex Trading Coach with video and podcast #333. The benefits of trading multiple time frame charts And I want to explain to you about the benefits to you as a forex trader of looking at and trading multiple timeframe charts. So take a step back. Think about the trading, think about the charts, think about the market. It’s little bit like people and the market has different characteristics, different mood swings. It reacts differently to different events. You can never really predicts what’s going to happen. Different forex pairs react differently depending on the time of the day, day of the weeks, sometimes the month, different years. And you never really know which timeframe charts or which pairs are gonna react when. Being flexible as a trader So, as traders, we need to adapt, we need to be flexible and one other best ways that we do that and also that’s gonna help you to do that. Is to have the ability to look at a few different timeframe charts. Different charts also pick up those different mood swings, different characteristics of the market. They give you the ability to identify high probability setup trades. That if you start to just one timeframe chart. You would often missed out on. So it’s very important that you have that ability to adapt and to look at different timeframes. Looking at your charts You’ll notice when you go through the charts. You might find that one timeframe just looks really flat and really boring. Other timeframes on the same pair at the same time will be showing really good setups. Again, it comes back to that characteristic of the pair and the time of day that you trading or whenever it might be the month, etc. So that’s why it is very very important. Trading examples from this week I give a few examples of how we adapt to those changes and how we profit and benefit from that so it can help you. So just last night, I held my live client’s webinar. Hold them every 2 weeks, 2 hour long, live trading room sessions. The alternate week, Paul over in America holds the US session, but last night it was my turn. Had a great session lots of people on it. I showed my clients over 20 charts setup just from this week. That I’ve either taking myself, I’ve seen people post on our forum site or clients have emailed me showing me the results. Over 20 charts just this week, just from the 4 hour charts. Absolutely amazing the 4 hour charts have been this week. Go and have a look at your MT4 Charts, your trading charts and look at the 4 hour charts across the variety of different timeframe charts from this week. You will find if you have decent trading strategy there been a lot of very very good setups. High quality trading setups on the H4 charts So I went through those last night and they said at least 20 of them. They were absolutely amazing charts, high reward to risk, high quality setups and they work beautifully. So the 4 hour charts for some reason work really well this week. And on that session, we talked about how other timeframe charts have not been quite not so good this week. They have not really showing on the setups. Live trades taken on the webinar So on that session I also took a 1 hour live trade on the EUR/NZD sell trade yesterday. It got filled out at the market and hit the profit target within the webinar session itself. Took about 1 and a half hours and made a 1.6 to 1 reward to risk trade. So I risk half of 1% on that trade. I made 0.8% gain on my account just in an hour and a half, not bad. On that session, I also took 2 12 hour chart trades. One of them ended up losing and got stopped out. The other one made a 2.1 reward to risk that was taken on a CND/CHF. Taken live on the webinar. So 1 lost, 1 made. Also this morning when I woke up, I saw that I had a trade that I took myself 12 hours prior also in the 12 hour charts that I’ve explained and showed to clients on that live webinar that made a 2.8 to 1 reward to risk. So of those 3 12 hour charts, 1 lost 2 gain still up massive percentage. Great results from different time frame charts So you can see that we have taken a 1 hour and taking 12 hour charts. I’ve also got a weekly chart that I’ve explained last week’s webinar and podcast, from the EUR/GBP that still in. That currently is at 1.3 to 1 and I also took a 6

Podcast: Will your trading strategy work in the future? In this video: 00:35 – Trading webinar question 01:30 – My strategy continues to work after 13 years 02:19 – Trading price action correctly 02:57 – The trouble with most trading strategies 03:25 – The way we trade 04:00 – The Daily charts 05:07 – Future proofing your trading 05:45 – Contact me for future podcast questions Will your trading strategy still work in the future as good as it does today? It’s an interesting question, so let’s talk about that and more right now. Hey, Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 332 coming to you from the beautiful town of Nelson in the top of the South Island here in New Zealand. Trading webinar question Now, I’ve been here for this weekend. On Wednesday night I held a webinar for non-clients for people who are interested in finding out more about trading and asking questions about my trading strategy. And a guy called Craig said to me, “Hey, Andrew. With the impending global financial meltdown, especially if the US dollar collapses, will your trading strategies still work?” It was a really interesting question that Craig asked. Craig obviously doesn’t know my entire strategy, but it was an interesting question, I thought, and a very valid one, because what’s the point in looking at buying a course or a strategy that may not work in the future? Now, Craig, I don’t know whether the impending global financial meltdown’s going to happen or if the US dollar’s going to collapse. Who knows? That was just purely Craig’s comments there. My strategy continues to work after 13 years But what I do know is this, is that 13, 14 years after I created the strategy that I still trade and teach today, it’s still working equally as well today as it did back then. And that’s a really important factor that nothing’s changed. We haven’t changed anything, we haven’t added anything. It still works equally as well. And when you think about the last 13, 14 years globally, politically, economically, we’ve been through all sorts of ups and downs and turbulence within the markets, recessions, all sorts of things, and for a strategy still to work today as good as it did back then and has continued throughout those 13, 14 years gives me massive confidence to say that it will continue to work. Trading price action correctly When you think about this, is that when you understand good price action or how to trade price action correctly, if there’s nothing happening in the markets, then you generally don’t find there’s a great deal of trades or not good high quality trades showing. Conversely from that, if there’s good price action, there’s lots of activity, then you generally find that that’s a day or a week that you see lots of price action in the market and lots of good high quality setups. And if you trade that way, you’re basically trading with what’s in front of you at the time. It’s what the conditions are at the time. The trouble with most trading strategies The danger is is if you’re trading a strategy that relies on a line crossing over another line and different things like that is that that can happen at any stage. So first all you don’t know when to trade, you can’t re-plan around that happening, and also that can continue whether the market’s flat or massively active, those sort of moving averages, let’s say, as a very basic example. The way we trade So the beauty of the way that we trade is that with using closes of a candle and using price action, we’re looking at only trading once there’s good momentum, good price action in the market that’s then giving us good setups. Now, to continue on from that is that we never know in advance at the beginning of the week which timeframe charts are going to show us better or no trade setups, and that’s why we trade a variety of different timeframe charts. It’s why we trade a variety of different currency pairs. The Daily charts As an example, the last few weeks the daily charts have had just some amazing chart setups, great high reward to risk trades. This week the daily trades have not been that good. We’ve had a few setups. They’ve not been particularly like what I call A-plus grade setups, but they’ve been okay. And most of them have not worked. However, our weekly chart trade this week is just going amazingly well. It’s a sell trade on the Euro Pound. If you go and have a look at the Euro Pound weekly chart setup, you will see that that’s worked extremely well this week. And the other timeframe charts, the shorter timeframe charts, and when I say shorter we generally go sort of four hour, six hour, eight hour, 12 hour charts, have worked particularly well, but for some reason the daily charts ha

Podcast: Why Trading doesn’t need to be difficult In this video: 00:26 – The cycle of a new trader 02:20 – Live trading webinar 02:50 – A +19.5% gain in 5 weeks of trading 03:10 – Finally understanding the charts 04:51 – Knowing how and where to enter a trade 05:28 – The KISS approach works 06:29 – Keep to the basics You don’t need to make your trading difficult. It doesn’t need to be. Let me give you some great tips and information right now that will really help you. Let’s get into it. Hi, Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 331. The cycle of a new trader Now, I want to talk about the cycle that most people go through when they start trading and then how that changes and evolves. Now, most people start off by seeing trading as something quite simple. You’ve probably seen it online. You’ve seen some flashy ads, some way. You think, “This is great. This is something I can do. Piece of cake. Love it”. You get into it, you open a demo, you don’t really know what you’re doing. You’re putting some huge, ridiculous lot sizes on there. You’ve got no idea about risk. You might add a couple of indicators because they look pretty cool and you have a few lucky trades and it’s all magic. That’s what I did. The problem is when you go live, it’s a completely different story, isn’t it? It’s real money. It’s real emotions. You then start doubting the system that you don’t really notice the system because you just kind of guessed a few things. You then look at some other systems. You look at adding some more indicators because they look really cool. They’re on all the charts. They must need them because someone’s created them. So, let’s add some different combinations of indicators. Let’s change the parameters of those indicators to something that no one else has ever done. And you try creating all these really cool strategies. That doesn’t work. So, you then go onto a forum, you get completely confused and bullied by other people on forums who think they know everything about trading. So, you realise that that’s not going to help you either. What else can do you do? Well, you probably get spammed with some emails about some, you know, some indicator or something like that that’s gonna make all your problems go away. You try that, you realise that doesn’t work either. “Ah, not I tried news trading before. Let’s give that a go because everybody says that’s the way to trade fundamental. So let’s go and do that”. And you have TV programmes going with CNBC, you’re waiting for these news events, and realise that doesn’t work either. So, you go into this big vicious cycle and realise that, “Actually, this trading’s pretty difficult after all”. Live trading webinar Now, the reason I’m bringing up this subject is that last night I held a live two hour webinar with a lot of my clients on that. A lot of people on that webinar were new to the course and the strategy. They’ve been with me two or three weeks. The reason there’s a lot of new people on there because a lot of people joined as a result of the 30 minute forex trader sale that I held in the beginning of August. A +19.5% gain in 5 weeks of trading That was as a result of me travelling through the UK and Europe during July and the three weeks I was away there and the two weeks- the week I was back in the week, we held the sell. We made 19 and a half percent gain by risking just a quarter of 1% risk per trade, all published on the membership site. And I’ve shown you if you’ve seen my videos, all those actual trades. So, a lot of people jump on board and go, “this looks really good”. Finally understanding the charts But the comments that I had on the webinar last night were amazing and I’ve received a number of this morning also, and they are largely around the subject of, “Actually, not so much this is easy, but you’ve opened my eyes to something I didn’t realise about trading. I now understand what I’m looking for. I now understand what the market’s saying when I’m seeing candle shapes and patterns and the price move up and down. I’m understanding that and I understand what’s happening behind the scenes. I’m understanding when to look for trade. Really important. I’m not sitting at the computer all day, I know with confidence now and we’re probability on my side that this trade is likely to work”. Not always gonna work. Of course it’s not, but that’s the comments that were coming through in only a few weeks of people joining. And of course you’ve got to have the strategy, you’ve got to have something that works, you’ve got to have the backup support that we off

Podcast: Another +6.55% this week – Get the Basics Right & Trade Well In this video: 00:36 – Travelling and Trading – Focusing on the Basics 01:18 – Another +6.55% gain this week 01:45 – Trading the Basics well leads to good trades 03:04 – Trading from the right hand side of the chart 04:05 – Control your risk 04:53 – Don’t count Pips 05:25 – Reward:Risk is important 06:01 – The importance of getting the foundations right I’m going to explain why I believe it is so important that you need to get the fundamental basics correct in order to be a good trader. Let’s talk about that and more right now. Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 330. You’ll notice I’m wearing a jumper, a sweater back here in New Zealand in the middle of winter after three weeks over in Europe. Travelling and Trading – Focusing on the Basics If you’ve been following me over the last three or four weeks, you’d have been noticing that I’ve been overseas travelling around, and I’ve been really focusing on the basics. In that time, I’ve been trading just the monthly, weekly and daily charts and nothing else. You would have seen that we’ve made some exceptional gains, including last week, which was my first week back at home. We had made with only a quarter percent risk per trade, 12.79%. That’s all trades that were posted on our membership site. Realistically, although I called it a 30-minute-a-day trip, most of the time, it was 10 minutes a day. Another +6.55% gain this week Just this week, it’s now Friday, I still have some open trades open that are at 0.9% so almost a 1% gain on open trades that are open just today, but this week already, we’ve had closed trades of another 6.55%, again, just using monthly, weekly, daily charts and a breakout strategy that we use once a week. Again, 10, 20 minutes once a day and that’s it. Trading the Basics well leads to good trades Not only did I want to share with you those results, which I believe are very outstanding and excellent results. Also, to let you know of course, they were on their membership site, but the thing is, the important thing is, yes, the results are wonderful, but it’s more important to understand that we do this by trading the basics, the fundamental basics. I don’t mean fundamental as in news announcements and worrying about what’s happening politically around the world. I don’t mean that fundamental. I mean fundamental basics as in getting everything correct, the basics, the building blocks, the foundations of trading. You must remember that we’ve been doing this for a long, long time, and so it’s a bit like riding a bicycle. After a while, it becomes almost like second nature. However, we don’t deviate from the basics with our trading and that we have a strategy that we know and we understand and that’s very low time consuming for us to trade. It’s very easy to identify a trade and go, yes, it’s a trade or no, it’s not. That’s what I mean by the basics. You’ve got to have an understanding of price action if you want to become a technical trader. We use candle shapes, candle patterns, and it’s very easy to look at your charts but in real time. Trading from the right hand side of the chart It’s no good having a strategy or a system that you can make a fortune for or from it, but with hindsight, after you see what’s already happened. You’ve got to be able to do it from the right hand side of the chart. You’d hear me talking … You would have heard me talking about that many, many, many times about the profitable trader is the one that can trade from the right hand side of the chart and decide what’s happening. You don’t need to also sit there glued to your screens all day long watching line A cross over line B and all those things. That’s just not good trading in my opinion. You need to be able to wait for the close of a candle, see a set up and, yes, it’s a trade or no, it’s not, but it still comes back to basics a little bit further. Once you’ve identified that, where is your stop loss going? Where is your profit target going? We have that as set levels that we use on our trades that is all in relation to the current movement and volatility of the market and the currency pair at that time. Control your risk It’s also important that you control your risk. Those trade results that I’ve mentioned have been taking place with only a quarter of 1% risk per trade so 0.25% of our account, very, very low risk. That means as an example, a $10,000 account, we’re risking only $25 on each individual trade. When we place our daily trades, we’re risking $50 but we split it into two positions, $25 each per $10,000, very, very, very low risk. You put those two together, I&#82