Podcast: Don’t try to become an overnight Forex millionaire In this video: 00:25 – 2 parts to this week’s video 00:49 – People think they are going to become an overnight millionaire 02:00 – Too many assumptions 02:42 – Trade like a builder 04:25 – I’m holding 2 live webinars in person with Paul Tillman 05:25 – Register your interest for one of the webinars Don't try to become an overnight Forex millionaire. It's not going to happen. 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 353. 2 parts to this week’s video Two parts to this video and podcast this week. The first is all about the subject title about making sure that you try not to become an overnight millionaire. The second part is all about two very exciting webinars that I'm going to be holding shortly and I'd like to invite you to attend one or both of those. More about that soon. So let's go back to the first part. People think they are going to become an overnight millionaire A big misconception with people getting into the Forex market is they think they're going to become overnight millionaires. It is not going to happen. I can promise you that. It will not happen. The downside is, is that when you look online, you see flashy cars and people on beaches, all that type of thing. You've seen it everywhere and people get into trading thinking that their results are going to be instantly amazing. And look, I did it myself years ago. I used to go for walks, taking my kids in the pram or the stroller for a walk, just thinking in my head about compounding and multiplying figures and how much I was going to make. But at that stage I was only on a smaller, like I think a $10,000 live account. But in my head, I was multiplying up this and if I take this crossing over that line and I'm going to make all this money and by the end of the month I'll have this. You see the problem is that people think they're going to become massively successful through trading, yet they've not even taken a handful of really good successful trades yet. Too many assumptions The other problem with that is you're assuming a straight line. You're assuming you're always going to be profitable and most people when they make the assumptions like that, and they're assuming they're not taking any money out for living purposes, and also they're assuming that they are risking far too much. Whereas in reality, you should be risking far less than most people place there on their trades. The problem is that people with that emotion, when they don't see that happening in real time, is they get despondent, blame the system, blame the market, blame the broker and you know, give up. You get the picture. Trade like a builder So think of it this way. Look at say like being a builder. If you start and you've got no building knowledge whatsoever but you want to become a builder, whether you're young kid leaving school or whatever age you might be, I want to become a builder. So what do you have to do? Well everybody has to start at the beginning. You may have to do some form of course qualification, a practical course, written course, and then you start as an apprentice. You start with the hammer and the nails and you're making the teas and the coffees and you're doing all that basic groundwork to understand the basics of what it is that goes on with on a building site. Then you build up and you might get more responsibility and you start looking at plans and understanding things and making orders for different parts and cutting and joining and working with other industries, like the plumbers, electricians, the concrete guys, all that type of thing, the roofers. It just goes on from there. Then over time you become like the lead builder, the head man, the foreman calling him what you want. Then eventually you might have your own building company and th...

 Podcast: How Trading with the Trend will help your Results In this video: 00:27 – The trend is your friend 01:02 – Looking at the bigger picture 02:15 – Eliminating pairs to trade 03:17 – Helps you to focus on the best likely pairs 03:58 – Looking for continuation patterns 04:27 – Link to the Forex Course Why trading with the trend can really help improve your trading results. 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 352. The trend is your friend Now, you've probably heard people say, "Trade with the trend," or, "The trend is your friend. Stay away from range-bound markets," all those kinds of things. The problem is, is how do you actually do that. How do you know that the market's trending? And do you only know it's trending when it's too late and it's already done that trend, and time you jump in, the market's then going flat again? So there's a lot of problems there about practically trading something that, in theory, sounds really, really simple and common sense to do. So I'll explain what we do regarding that to help us profit from the market. Looking at the bigger picture So we teach our clients how to look at the bigger picture of how to look at the weekly charts. Now, each week on the membership site, and we've done this for years, we publish the currency pairs, the Forex pairs that are likely to be bullish through that week and the currency pairs that are likely to be bearish, or heading down for that week. Now, it does a number of really good and important things on a practical basis. One, it allows us and our clients to see where the likely bigger picture is for that pair for that week. And so when you're trading on shorter time frame charts of daily charts or sort of smaller again, 12-hour charts or even four-hour charts, one-hour charts, it helps you to look for currency trade setups on that pair that are likely to be in the direction of that bigger picture, that weekly direction. And what that does is it gives you the ability to trade a pair that is likely to move and in the same direction. So it stands to reason that you add more and more probabilities together with your trade, and of course you still want the good setup, first of all. You're putting all those things together and you're giving yourself more and more chance and probability of that being a good trade. Eliminating pairs to trade The second thing that it does is it eliminates a whole group of currency pairs for that week, because if we're looking at pairs that are likely to show indecision or not moving very much, or they're two strong currencies or two weak currencies, therefore we don't know which way it's likely to be moving for that week. What it does is it allows you to focus less on those currencies, or not at all for that particular week. So it actually really focuses your trading to a select group of currencies for that week and it helps you to stay away from those trades or those currencies that are likely to be range-bound or not move much in any particular direction. So it has a double, like a two-fold benefit to your trading. One focus on which currencies are likely to be moving and in their direction; number two, these currencies are not likely to be moving much, so let's stay from them or let's not take a trade on them unless we see an exceptionally good setup. So double benefits for you there. Helps you to focus on the best likely pairs And it helps you to focus, it helps you to really narrow down and fine tune your trading. Because don't forget that trading, after all, is about probability. Nothing is absolute. Just because we say the Euro/US dollar, for example, is going to be bullish this week, nothing to say that's going to happen. It's to say that this is what we're seeing and why, and if we then see bullish setups on other timeframes, shorter timeframe charts on that pair for that ...

 Podcast: It’s Your Trading Results that Count In this video: 00:23 – We trade to achieve results 01:22 – Why do so few make money from trading 02:02 – We have a very high percentage of successful traders at TFTC 02:54 – 2 recent clients results 05:00 – How you can also achieve results like this As a trader, it's the results that really count. Let's talk about that and more right now. Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 351. We trade to achieve results So, why do we trade? Well, ultimately we're all after results, aren't we? That's why we do it. That's why you learn something. That's why we're learning how to trade. It's why we're taking trades. We're sitting at the computer. We are educating ourselves, all for the end goal of making money and being able to trade and to get results. And that's really what counts. Unfortunately for most people, they don't get to achieve the results that they want. And the vast majority of people, if you believe the stats out there, lose money when they trade Forex. There's a whole group of people that might make a little bit, or lose a little bit, and get basically going round in circles, getting nowhere. And then there's the few, the elite people who, and I mean the elite, as in just a very small number. Not elite as in particularly any fantastic as a person better, but just the ability to trade well. And a very small percentage get to that level. Why do so few make money from trading And why is that? Well, there's a lot of reasons. A lot of people, it's lacking of a strategy and an understanding, and lacking an understanding of risk. Because when you mention someone's percentage return, or if you want to measure in pips, which I suggest you don't do, but whether you're mentioning pips or percentage return, a lot of people get too carried away. And there's far too many people out there looking at making stupid amounts of gain, or they think they're going to, or they think they should, but they never understand the risk involved to get there. And it's really important that you understand that. We have a very high percentage of successful traders at TFTC So, here at the Forex Trading Coach, we are very fortunate because we have an incredibly high percentage of successful traders. And it's not hard to see why. First of all, we've got the strategy that works, and the low risk, and the high reward to risk, and the good people teaching, and helping out, and consistency, all those things. But with our daily trades, you can't fail to make money because, at the very least, if you just copied what we do every day, you're going to make money anyway. But on top of that, we're not just about a copying service, we're about teaching people to better themselves, teaching people to learn how to trade, a really straightforward, low time consuming, low risk, easy to trade system and strategy. And we're about teaching people and educating people to do that for themselves as independent traders. 2 recent clients results Now, I had just yesterday, two people wrote to me. One is called Brian, he lives up in Auckland here in New Zealand. And Brian said to me, Andrew I've made in the first month since I've been with you, 13.25% trading the daily charts, the 12 hours, and the six hours, and a few four hour charts. 13.25% in his first month. And Brian said that he's relatively new to trading, and he's absolutely ecstatic with those results. And the great thing is being a new trader, he's come in and look at the system from no knowledge at all. Learned what we've got, how we're doing it, applying it, it's working. No surprises really there. But it's great to see it happen in reality. And also received just yesterday, an email from Michael over in Dublin in Ireland. And Michael has been with us for about 13 months. And Michael said, with your system Andrew, I'm averaging over 4% return per month, live trading. Now,

Podcast: What Makes Us Different at TFTC? In this video: 00:29 – So you want to become a Forex trader 01:00 – New or Frustrated Trader 02:16 – We address the real issues 03:03 – Trade in a few minutes a day 03:45 – Trade off the close of a candle 04:28 – The opportunity to follow us 05:45 – Trades posted on our Forum site and on our Live Webinars 07:00 – Trading software, Support and the Strategy 07:18 – Free Trading Information for you What makes us different here at the Forex Trading Coach? Let's talk about that and more right now. Hey, traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach. This is video and podcast number 350, and I want to talk about us here at the Forex Trading Coach, how we can help you. So you want to become a Forex trader But what makes us different? So you want to become a forex trader. Now, you can go online. You can probably look locally around you, and you will find there are courses, there are coaches, there are systems, there are strategies, there are robots, there are books, there are... Everything to do with forex trading is online. The problem is, from your point of view, is how do you know which is good and which is not good, what works, what doesn't work? New or Frustrated Trader You see, as a forex trader, you're going to be in one or two different situations. If you're new, you're looking online and it probably all looks quite exciting right now, but also, it will start to lead to confusion because where do you go? How do you know what's good or what isn't good? Because, to start with, it all looks kind of good because it's all new, and you kind of believe everything that's out there. If you're a experienced trader, well, you're into that frustration time. You've been through and you've tried different systems, and you bought robots and book courses. You've bought strategies. You've done coaching sessions. You may even have been physically to somewhere in your area or travelled to do some coaching. But the problem is, although it probably looked okay, it doesn't work. And now you're still in that same reoccurring cycle of a bit of hope, pay some money, it doesn't work, find the next thing, a bit of hope, pay some money, it doesn't work, and you keep going until you either run out of money, give up, frustrated, someone tells you you're silly for keeping trying, or you try your own ideas and they still don't work. That's the problem that people have. You're either new or frustrated, but one or the other is what you're going to have. We address the real issues So here at The Forex Trading Coach (TFTC), we like to think that we're different because we address the real issues. We realise that you're busy. We realise that you've probably got family, kids, partners, sports, jobs. That thing called a job, most people have got a job. And so the last thing that you want to be doing is sitting hour after hour after hour either trying to understand a strategy or, once you've done that, being forced to sit there at certain times of the day, or just waiting for that line to cross over that line so you can take that trade according to that strategy. We realise that that is not good. We realise that's not practical. Trade in a few minutes a day We are real traders. We're real people, all with families, working from home. Our aim at The Forex Trading Coach (TFTC) is to get you to be able to trade in only a few minutes a day if you want to. So if you wanted to trade just the weekly and daily charts, you should really trade no more than maybe 30, 40 minutes in the entire week. And you know exactly when to do that. We have traders here at Forex Trading Coach who just trade 10 minutes just once a week on weekly charts, and that's it. You can trade any time frame that you want. And the beauty of the system is it works on all pairs or time frames. Trade off the close of a candle But because we are looking at close of a candle,

Podcast: Removing the Confusion from Your Trading In this video: 00:26 – Trading Confusion and how to overcome it 00:55 – Confusion to Clarity 02:00 – Knowing what to look for 02:50 – Feedback from new clients 03:59 – Pick the charts and time frames that suit you I'm going to try and help you remove the confusion from your trading. Let's talk about that and more right now. Hi, traders. It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 349. Trading Confusion and how to overcome it Now, I want to talk about trading confusion, and I believe it's very, very common and I know that because when someone joins our course, I send them an email and find out all about their trading history, so we know how to best help them. And then after a week, I ask them how they're going with the course and what they're liking, what they're finding difficult, and then the same after a few weeks, same after a month, six months, et cetera. So, we get some really good feedback from people about what stage of their trading career and the stage of their journey that they're at. Confusion to Clarity But what I find is that confusion is a big part of what people have before they come to us. And after they join us, clarity and an understanding of the market is a big part of what they gain out of joining the course and a well-proven strategy. So, I want to expand on that because the confusion is a big problem. You need to understand when are you trading? When are you looking at your charts? At the close of a candle is a very easy thing to do. You probably just heard my charts just alert behind me here. It is now 11 o'clock here Friday morning, so it's 5:00PM Thursday New York time. So, as soon as I finish this video, I'm going to be looking at the daily charts. In fact, I've already had a quick look to see what's happening, and posting for our clients' specific trades based on the daily charts. I know that right now I need to look at the daily charts because the candle on the daily candle was closed. At the same time I can look at the one hour, the four hour, the six hour, the eight hour and the 12 hour charts all at the same time. And so I have clarity of when to trade. Knowing what to look for I then have clarity because I know what I'm looking for. Now a little bit like riding a bicycle. Once you can do it, you can do it and you can always do it and you can get back on the bike and you know what to do. But when you're starting, there's a lot of confusion going on and it's very, very difficult because you've got to pedal and steer and look out for cars and other bikes, et cetera, and it's quite difficult to put it all together. But once someone's showing you how to do it and once you've mastered it, it becomes relatively easy. And trading's not too dissimilar in that once you have clarity and understanding of what you're looking for, what pattern you're looking for, what the set up looks like, knowing which currency pairs you're favouring, which timeframe charts you're favouring, all those type of things, it becomes a lot easier. And just wanted to a pick up on that. Feedback from new clients Had some feedback forms here from clients. Just wanted to read a few from people who had joined us recently. Feedback from Sarah who said, I learned more in the last week since I've joined in the past six months of trying to trade by myself. There's another one here from Kenneth. Loved the live trading rooms. They're fantastic. I love the examples and really helps cement how to use the system. I love the emphasis on risk management. Another one here from Derek who said, I think the content is really well covered. Love how your indicators tie into your method and the indicators incorporate into your trading strategy. Another one here from Peter. The templates are connected to help me understand which timeframes I'm looking at and the use of your technical analysis is really...

Podcast: Making 2020 a Fantastic Trading Year for You In this video: 00:35 – What can you learn from your trading in 2019? 01:10 – We start trading on 13th January and have our trading plan ready 01:27 – Daily trades made +23.87% gain in 2019 02:17 – We know what works and what doesn’t work 03:02 – We promote low chart watching times 04:00 – Daily trades have been profitable every year since 2010 04:23 – Split payment options for you – Our 3 Day Sale this week 05:13 – A performance based guarantee 06:16 – Register your interest for the sale What are you going to do to ensure that 2020 becomes a fantastic year for you as a Forex trader? Let's talk about that and more right now. Hey traders, it's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 348. And happy new year to you. This is the first video and podcast into 2020. I hope you had a fantastic Christmas and also just a great new year. What can you learn from your trading in 2019? Now, moving into trading, what is it that you did in 2019 that you kind of regret? What is it that you did that was good? Have you taken some time to analyse your performance of last year? Have you taken time to go through the charts, look at the setups that you took, ones that worked, ones that didn't work, and basically go through and create yourself a plan so that this year, 2020 is going to become a great year for you? We start trading on 13th January and have our trading plan ready Now, of course, nobody knows what the market's going to do as we head into this new year, but we're starting trading next week on the 13th of January, which would be the day that you get this video on podcast. That's our first day of our daily trades. Now, we all have a plan of what we're doing heading into the next trading year. Daily trades made +23.87% gain in 2019 We've analysed what we've done last year, and by the way, our daily trades that we post for our members made 23.87% for 2019 by risking just half of 1% per trade. So very, very low risk. Our biggest month I think was about a 1.6, or 1.8 I think it was, percent losing month. So very, very low draw down, high consistent returns. Just one timeframe I'm talking about there. Of course, we trade different time frames as well. We post on our membership site about the monthly and the weekly timeframes and on our forum site, on our forum site that we publish trades. So do other clients of different timeframe charts, trades that we're looking at. And on our live webinars, we trade anything from a 15 minute chart through to a 12 hour chart depending on the timeframe that's showing the right setup at the right time. We know what works and what doesn’t work But we have our plan, we have our trade setups in mind, we know what we're looking for, we know what works, we know what doesn't work. We know about reversal trades, they look really good on the charts, but we also know that continuation trades look not quite so dramatic on your charts, but they have such a high probability chance of being profitable. So I personally much prefer continuation trades because it means I'm trading with the main trend, but after a pullback. And so, for me, I'd always put a higher emphasis on a continuation trade than I would on a reversal trade. But it's having things like that in mind. When are you going to trade? What days of the week? What times are you trading? We only trade on the close of a candle. We promote low chart watching times And I think that's really important because, for me, we advocate and we promote living. Look at the view me, if you're watching the video. We're out here trying to do things outside, trading 30 minutes once a day, and that's it. You do not need to sit at your charts watching five minute charts moving up and down all day. You can, if you really, really want to, but I can promise you that you're not going to be doing that in a year's time because you're going ...

 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 l...

 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.  

 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 ...

 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,

 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,

 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.

 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,

 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...

 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...

 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...

 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,

 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,

 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,

 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

 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 yest...

 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.

 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.

 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,

 Podcast: We’ve made +12.79% gain from the last 4 week’s trades posted on our membership site In this video: 00:15 – Update from this week’s trades 03:23 – Weekly chart trades 04:37 – Daily chart trades hit full profit target 06:03 – This week’s totals, +5.45% for the week 08:01 – A gain of +12.79% in the last 4 weeks 08:30 – 3 day sale starting on 5th August 2019 Hi traders Andrew Mitchem here from The Forex Trading Coach. It is Friday the second of August. Now before we get into next week’s sale, the three day sale that I'm giving, which starts next Monday. Update from this week’s trades I wanted to give you a live update here of the trade results of this week. So I'll run through those trades very shortly, but just to let you know that with the trades that we've taken this week and posted on the membership site. Now this has got nothing to do with trades that we post on the forum site, trades that we take on the live webinar, which I did a two hour live webinar with my clients last week. This is purely trades posted on our membership site. This week we have closed trades of plus five point four five percent on closed trades. And that's by taking a quarter of one percent per trade. So really, really low risk high returns five point four five percent on closed trades. Adding to the open trades again I'll share those with you shortly, which are one point four percent.  We're up six point eight five percent if we closed out all the trades right now. Add that to the five point nine four percent I made on three weeks while I was over in England and France, that's twelve point seven nine percent in the last four weeks. Trading ten to thirty minutes a day. Pretty amazing. So let's have a look at the trades, some of these you would have seen from the previous videos. But just to quickly summarise that we had an Aussie yen trade here, this was back from before I went away back on the third of July. And that was taken on the weekly chart trade bait, take back here, and you can see for a few weeks it didn't go anywhere. I left the trade in and then it completely changed around reversed on us got to stop that. That's the first one. And then you can see while we're on the Aussie yen there's an Aussie yen here which we suggested last week or this current week. Again you can see that on our membership site here the Aussie yen trade is, if I can go to the right one, at the top of the page. Here we go. So this week we had five trades suggested on the weekly charts. The profit target's been hit on four out of the five market orders. The New Zealand, U. S. I'll share it with you shortly. But we hit profit on those at one point six to one reward risk on the Aussie yen, the trade that I got on screen and seventy-three pips there. So you can see all those trades there. As mentioned earlier, we had our full profit target on the breakout strategy that we used that was a trade on monthly so we stopped that yesterday. Another one still open on the monthly is up two point two to one. We got no trades today, non-fund payrolls on Friday. Yesterday we mentioned a trade on the euro franc, you can see the trade written down here. The exact entry and exit levels on the daily that made forty pips out of two point one to one and then the previous day. And that was a great trade on the U.S.-Canadian dollar and that ended up making here full profit two point five to one. So lots of trades there that we've taken. Weekly chart trades Let's cover some of these weekly chart trades. The Aussie yen is this one here. We have a profit tigered of seventy-four thirty-five and it's clearly gone way through that. We had the Aussie-Franc weekly, the Aussie-U.S. weekly, you can see down here Aussie-U.S. weekly there we call it sixty-eight zero seven and you can see it's just got to that level it's gone a tiny bit further. But there's our profit tiger been hit already on that. We've got the Aussie-Franc that I mentioned there,

 Podcast: How to be one of the few profitable traders? In this video: 00:29 – Why so many traders lose money 01:30 – Massive losses from traders 01:45 – You need to be realistic 02:35 – Seek education 03:35 – Trading while on holiday 04:45 – Would you like to follow my trading? 05:45 – Anything could happen Why is it that so many traders lose so much money? And more importantly, what can you do to ensure you're not one of those people? This is a very, very important subject. So let's get into this and more right now. Hey, Forex Traders, Andrew Mitchem, here, from the Forrest Trading Coach with video and podcast number 328. Why so many traders lose money And I want to talk about why is it so many people lose money? And that, that has been as a result of an e-mail that I received earlier in the week from a company called Darwinex. I don't belong to them, but I'm on their mailing list, and they sent me this. And back in 2015, the accounts that they had with them lost 78% of their value. 2016, almost 51%, 2017, 47%, and last year, 2018, 38%. And so far this year, almost 10%. So, a massive loss in the cumulative accounts of their clients. Now, as they said, the results are getting better, which is good, and are still huge losses, by the way. But like they also said on here is they encourage, or want to encourage other brokers to publish their account losses. Because like they said, the other brokers, or a lot of the other brokers probably had far worse losses than Darwinex themselves do. Massive losses from traders But think of that, that first year, 78% loss on accounts cumulative. And even today, still massive losses. So, that's not good. You need to be realistic But you need to be realistic, and I'm here as a real trader to tell you that you need to be realistic. Most people will show you flashy cars and Porsches, and all that type of thing. I don't do that. I'm here trading from home, telling you as it is. And you need to figure out that if you are serious about wanting to become a Forex Trader, as a full-time trader, or just someone that's doing it for enjoyment or a passive income, what is it that you can do differently so that all these other people that can basically put you on the other side to make sure you're one of those few people who are making, not even just breakeven or a little bit of money, but some good, consistent gains? Because ultimately that's why we all do this, isn't it? We're here to become good Forex traders and to make income from it. So, what can you do about it? Well, there's lots of reasons why those people are losing. Seek education But what you can do, is you can seek yourself some education. And I strongly believe that that is a very, very good option. But the problem, then, becomes, is when I look around at other courses that I see online, is that while they're systems or they're strategies, that most of them are not very realistic in terms of being able to trade them all the time. I've been doing this for over 15 years. And teaching for over 10. And I'm still doing it, and I still love it, and I still get a passion and a buzz out of it, because it's enjoyable and it's something that I can work in with other things that I do. If I would have sat here, looking at these screens, all day, every day, it would drive me mad. And I would have given up years ago, regardless of making money out of it. But, because of the way I trade, and it's longer time frames, it's less chart time, it's more enjoyable, more reliable, I believe that's one of the reasons why it's realistic. Now, you may have heard, and if you haven't, then I'm going to tell you, and if you have, sorry that I'm going to repeat myself. Trading while on holiday But on Monday, probably the day you get this video, Monday the 8th of July, I'm heading overseas for just over three weeks with myself and my family. And we're heading over to the UK and Europe.

 Podcast: Should you use Trailing Stops or Fixed Stops? In this video: 00:22 – Two parts to this week’s podcast 00:41 – Trailing stops and should you use them? 01:13 – How should you use a trailing stop? 02:35 – I don’t use trailing stops 03:45 – Look to move your stop loss or take partial profit 05:46 – Trading for 10-30 minutes a day while on holiday – follow me Should you use trailing stops as a forex trader? Let's talk about that and more right now. Hi, traders. Andrew Mitchem here from The Forex Trading Coach with video and podcast number 327. Two parts to this week’s podcast Two parts to the video and podcast today. The first is a question about trailing stops. The second is about a great opportunity I'm going to give you to follow me while I'm away overseas on holiday for three weeks, trading in under 30 minutes a day. More about that shortly. Let's get back to part one about trailing stops. Trailing stops and should you use them? So, the question's just been received today from a trader. He's not a client, but he's a guy that follows me on podcasts called Trevor from the UK, and Trevor asked the question ... He said, "Andrew, trailing stops attempting to use as a protective factor to lock in profit in case of reversals; however, they can be taken out in strong retracements. Do you use them?" So that's a good question. The short answer is, "No, I do not use trailing stops," but let's discuss them and their merits or otherwise. How should you use a trailing stop? So, a lot of people like the thought of a trailing stop because you think that it's going to keep following your trade as you keep making profit and locking in more and more of the trade and, in theory, giving you a better return. That's the theory. There's a couple of practical issues that you need to be aware of. I'm not sure about other trading platforms, but certainly if you use the MT4, MetaTrader 4 platform, if you use a trailing stop, you actually have to have your computer on. Now, if you have your platform open on a virtual server, that's fine, but most people probably would just have it on their desktop or their laptop. If you use a trailing stop and close your chance down, then the trailing stop will not be honoured because it sits on your computer. A normal hard stop or a profit target sits with your broker, but a trailing stock does not. So, there's a factor that you need to be aware of and probably a lot of people don't know that. The other thing is, from a trading point of view, is how big a trailing stop to use and when do you start to use it? Where do you put it? When do you introduce it? Does it depend on the currency pair or the timeframe chart or the volatility in the market or flatness in the market right now? If you put a 20 pip trailing stock, is that the same on the euro pound as it would be on the pound New Zealand? One very slow, one very fast. I don’t use trailing stops All these type of things you need to consider. So, I don't use trailing stops for those reasons. It's too much of a guess. I like to have a little bit more certainty in my trading, and so, to me, the initial stop loss needs to be placed at a protected level for a reason. Don't just pick 30 pips because someone said so. Pick the level that the trade needs to be ... the stop loss needs to be at to protect the individual trade. One of the reasons why I love trading on individual candle shapes and patterns is because if that is a relatively large candle, I can then afford to have a slightly bigger stop loss, and therefore, my profit targets bigger and the reward to risk becomes good as well. If it's a smaller candle, then generally, I've got a tighter stop loss and the smaller profit target because it's reflecting the current market conditions, and reward to risk is so important. So, you can't have a stop loss that's so massive that your profit target needs to be ridiculously big and unlikely to be hit. Likewise,

 Podcast: Lining up your ducks in a row In this video: 00:24 – Becoming a better and more consistent trader 01:02 – Tips to help you create a trading plan 01:46 – Lining up everything in your favour 02:25 – Get the bigger picture from the Monthly charts 03:12 – You’ll still need a good strategy and identify a good trade 03:54 – Take a look at the USD/CHF price level 05:33 – Line the ducks in a row to help your trading results Lining up all the ducks in a row to make you a more profitable trader. How does that work? Let's talk about that and more right now. Hi, Forex Traders. It's Andrew Mitchem here from the Forex Trading Coach with video and podcast number 326. Becoming a better and more consistent trader I want to talk about how you can become a better and more profitable trader with consistent trades by lining up all the ducks in a row. Let me explain more about that. You see, trading is all about probabilities. There are no certainties in trading, and the other thing that you have to work out when you are wanting to become a trader, is you need to have a plan and you need to stick to it. But, how do you create that plan? What do you do in order to create a plan? Because, everybody says, "Hey, you need a plan to become a good trader." Well, where do you start? What do you do? Tips to help you create a trading plan I've got some really beneficial and realistic practical tips to help you with this because, like I said, trading is about probabilities. Nothing is certain. You can have the best looking set up and it won't work. It's not absolute guaranteed to work. Nothing's really guaranteed in life, is it? You probably have to go to school when you're a child. You probably and should be paying taxes when you're an adult, and you are going to die. So, really, the last one's the only certainty, but in trading there are no certainties. You can have absolute everything looking really good. Doesn't mean to say it's going to work. But, if you do that often enough with the high probability behind you, then chances are you're going to do really well as a trader. Lining up everything in your favour Getting all that lined up, everything lined up, is really, really important. I was on a webinar last night with my clients and I was discussing with some of my more experienced and more successful clients, about what they do to line up all the ducks on a row. It was really interesting about the philosophy that they have, and what we are looking at here is getting all different timeframes lining up. Now, I'm not saying go through your MT4 charts and get every single one lining up absolutely perfectly because that's not going to happen. Get the bigger picture from the Monthly charts What we're saying is, at the beginning of the month look at your monthly charts and write down a list of likely directions of where you see strength or weakness, your bias for the bigger picture of the monthly directions. It's a real simple exercise. You just need to do it once a month. It might take you 10, 15 minutes once a month. And then, at the beginning of the week, do the same on the weekly charts. Try and line up pairs that have the same direction or potential same direction as the monthly charts. And then, on a daily basis, we then scale down and write on the membership site. We also put the weekly charts, but also the daily charts with specific trades. But, if you have the daily charts lining up with the weekly charts, and that lines up with the monthly charts, then surely that has to start to line up a few ducks in a row there for you. You’ll still need a good strategy and identify a good trade Now, of course, you don't just randomly go and say, "Oh, the monthly's looking like it's heading down. So is the daily and ... So is the weekly and now the daily. Just take a sale trade." That's not what you need to do. If the, say, likelihood is everything climbing up to say,

 Podcast: Do You Enjoy Sitting at Your Computer All Day? In this video: 00:30 – A traders’ journey and why so many give up 01:19 - Sitting for hours watching charts 01:47 – When I started trading 02:30 – You find it doesn’t work out 03:12 – Our approach to trading: Less is More 03:34 – I’ve traded just the daily and weekly charts this week 04:00 – A lack of knowledge 05:02 – Trading a variety of charts 05:44 – Have a life and trade well As a Forex trader, do you really enjoy sitting at your computer all day waiting for trading set ups? If you do that's fine. But if you don't and you'd like to know how to change your trading so it's more enjoyable, I have exactly what you need. Listen up, let's get into it. Hey traders, it's Andrew Mitchem here, the Forex Trading Coach with video and podcast number 325. A traders’ journey and why so many give up Now this video is all about how people progress from absolute beginners through to good traders and the reason why so many people tend to give up trading too early, probably. So natural progression is this; you probably have heard about trading, you might have been and done a course maybe it's online, maybe it's in person somewhere, big group of people. You may have known someone that's traded, you've looked on forums. All those type of things, you see an ad online somewhere. Whatever is you get into trading with this huge hype and expectation of it's going to be fun, it's going to be easy and you're going to set out your charts and you're going to see some trades and make some money. That's how it's all going to plan out. Of course the reality is that doesn't happen, pretty much in all cases actually. Sitting for hours watching charts Most people when they start because they have the buzz and the excitement of trading is that they think they're going to have to sit there and they do sit there and make yourself have time to sit there watching charts. The problem is is that when you're sat at your computer that's when you're making a trade happen, like you're almost forcing a trade to happen, you're wanting it to happen, you're waiting for it to happen. So people tend to take trade set ups that are not really that good a quality. When I started trading Now back when I started trading, 15 plus years ago, we only had dial up internet. Of course if you were lucky enough to get dial up to actually have a stable connection, and you only had a very small data plan like a gigabyte a month let's say. Which back then was actually really quite good. I did the same. I was looking for trades and kids were in bed, I'm ready, computer's working, internet's working, let's take a trade. What are we going to do? Of course the danger is that the market wasn't ready or there were no set ups. That's what people still do today. But you have the ease of high-speed internet and fibre, and cheap data plans and mobile phones et cetera. So you're wanting to take more and more trades. You find it doesn’t work out What actually you find out is that over time that doesn't work. Unfortunately before you find that out, most people actually give up because they're losing too much money, they're blowing their accounts. Or they are just spending so much time that it's not sustainable. Either you get that or they start absolute hiss and roar, go really crazy, and then find that real life continues and jobs and family and whatever it might be and I cannot commit that amount of time to sitting at my charts or I get home from work and the last thing I want to do is then sit down in front of a computer looking at charts. All of that is very understandable. That's why so many people give up. Our approach to trading: Less is More Our approach is the complete opposite to that. You'll find that most full time traders and most good traders, whether they be small time retail traders but they've been doing this successfully for a while, the approach is less is more.

 Podcast: +9.5% monthly gain in May, here’s how In this video: 00:26 – Details about a client who made +9.5% in May 00:51 – Live webinar discussing Scott’s trades 01:22 – Check out the Testimonials page https://theforextradingcoach.com/testimonials.html 01:59 – Scott’s comments and trading week routine 04:05 – How we can help you achieve similar results yourself 04:46 – Reduce your risk on a Monday A client of mine has just made 9.5% during May. I'm going to share with you details of how he's done that. Let's get into it right now. Hey, traders, Andrew Mitchem here, the owner of the Forex Training Coach with video and podcast number 324. Details about a client who made +9.5% in May Now, I want to share with you an email that I received from a client called Scott, and Scott's been with me for just over 18 months, and he has a full-time job, and in May he made just over 9.5% trading very little, but trading very well. And I'd like to share with you some of the information that he's sent me here. Live webinar discussing Scott’s trades Now, tonight I'm holding a live webinar with my clients and I'm going to be going through all of the trades that Scott has taken, the good trades and the losing trades, and we're going to be discussing those trades. But it's really important that you take from this that this is with low risk trading. So, Scott's risking no more than half of one percent of his account per trade. Very, very low risk to make a very nice, almost 10% gain in the month of May. Check out the Testimonials page https://theforextradingcoach.com/testimonials.html You can also have a look on the testimonials page on my website and you will find a video of Scott there. So, have a look, and you'll see who that is that's made the money and done very well for himself for that month. Also important to note that Scott is always on my live webinars. He contributes well to our forums site, and 18 months after joining, these are the type of results that he's getting, and the consistency is what matters. You know, it's really important that you put that time in upfront in order to then reap the rewards later on down the track, and that's exactly what Scott has done. So, let me share with you some of the information that he's said on here, and he fully admits, he said, "Look, I had plenty of down side trades in a month, but I led to"... He actually says, "Leading to only a 9.5% account gain for the month." So, that tells you that he's pretty consistently doing that and more. So, his summary is like this. On a Monday, the beginning of the week, he trades only the monthly charts and the weekly charts, and the daily charts if they're really strong. And the reason for that is because at the beginning of the week, he can take the weekly charts. So, if it's the beginning of the week and the month, then he can take the monthly chart trade as well. But he's very selective on the daily chart trades that he takes on a Monday because when you think about it, you're looking at a Friday's candle. And so, because of course Monday is only just starting, and so really important that you're very selective on a Monday. What I also suggest people do on a Monday is reduce the risk that they take per trade because you're at the start of the new week and things could be a little bit more unpredictable. Scott said then on Tuesday, he takes the daily charts if there are any. He also looks at the 12 and 8 hour charts, but only if they're in the direction of the weekly and monthly, so if the monthly charts and the daily chart... Sorry, monthly charts and the weekly charts all line up to say, let's say, short positions on the pound U.S dollar, and he sees a 12 or an 8 hour chart on that panel in the same direction, that's the trade he's after. On a Wednesday, he looks at the dailies, the 12, the eight, six, and four, and again, those shorter time frame charts only if they are in the same direction as the monthly ...

 Podcast: How do you react when you lose a series of trades? In this video: 00:26 – The downside to trading and how do you react? 00:50 - The good and the bad 01:44 – Are you your own biggest problem? 03:31 – The market is unpredictable 04:15 – Back to basics 05:04 – Benefit from our 10+ years of helping traders like you How do you react when you have a series of losing trades? It's critical you get this right to your trading success. So, let's get into it right now. Hey, traders, Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 323. The downside to trading and how do you react? Now, everybody tells you the good side of trading. I want to tell you about the bad side of trading, and more importantly, how do you react when that happens? Now it's all about losing trades. Now, we will have winning trades and losing trades as part of trading. But, what happens when you have a series of losing trades, maybe losing days, losing weeks, even losing months. What happens? The good and the bad Let's bring that back to a story that everybody can relate to. It's called life. In life, we have good times and we have bad times, and everybody goes through the same thing. And what often defines you as a person, as a parent, as a boss, as an employee, as a sportsperson, whatever it might be, what defines you quite often is how you react to those bad times. How do you get through it? What do you do to ensure that those become less and less? You see, the problem is today that with everything being we want the quick fix all the time, a lot of people struggle when things don't go right. And you know, they blame someone else, they get depressed, they sulk, they give up, you know, everybody else's fault. It's the same in trading. Are you your own biggest problem? You see, people blame the market, they blame the broker, they blame everything. But very often, it's the person themselves that is the biggest problem. And it's how you react to that. So, you have a system, a strategy in place, and if you weren't happy with it, you wouldn't be trading it. So, you're trading it, and you have a series of losing trades. What happens? Do you go back and analyse those trades? And in reality, you should be analysing all of your trades. But, do you go back and analyse those trades and go, "Do these losing trades fit my criteria? Do they fit my rules, my trading strategy? Yes or no?" If they do, then great. That's part of trading, and you may be just going through a tough patch right now, because if they do meet your criteria, and yes, this is what I'm looking for as part of my trading plan, and unfortunately, it didn't work out, at least you stuck to your horse. You can still find things in there that you might learn further from those losing trades. But, if you stuck to your rules, then, well done. You've done what you should do as a trader. If you didn't stick to your rules, that's where the problems start. So, rather than blaming everybody else or your broker or the market, how about, let's fix the problem, which is you, and go and analyse those trades and go, "Well, actually, do you know what? That trade there didn't meet my criteria, because of reasons one, two and three. Therefore, I'm learning that when I see that again in the future, I will not take trades that look like this and I'll only take trades that look like that." So, that's how you can develop and how you can learn and how you can improve yourself. The market is unpredictable Now, don't forget we're trading in a market that's unpredictable. You never know what's going to happen. You know, even with the best laid-out plans and best laid-out strategies, no one can be certain of what's going to happen. You don't know whether it's a trending market, a range-bound market. Different currency pairs react at different times of the day or different months of the year, even. And then,

 Podcast: Why Candle Patterns Rule In this video: 00:33 – There are so many ways to trade 00:51 - The downside to Fundamental trading 01:22 – The flaws with Technical trading 01:52 – I trade Candlesticks 02:35 – Focus on the individual candle 03:29 – A candle paints a picture 04:05 – Helps with back testing 05:05 – 2 types of candles to trade I'm going to talk about why candle patterns rule as a Forex trader. So let's get into that and more, right now. Hey Forex traders, Andrew Mitchem here from the Forex Trading Coach with video and podcast number 322. And I thought I'd take this opportunity ... It's autumn here in New Zealand, beautiful day as you can see to get outside and make the video from out here, rather than standing in front of the charts. There are so many ways to trade So many different ways that you can trade Forex. Unfortunately, most of them are not good ways but the two traditional ways that people look at trading Forex are either to become a fundamental trader or a technical trader or sometimes a bit of both. The downside to Fundamental trading So the downside for being a fundamental trader, in my opinion, is that it becomes your opinion of what you see in the news, or what you hear in the news. Is that news better or worse than expected and there's so many different variables and it changes all the time, it's quite difficult to make an assessment, in my opinion. Now I know there's people out there watching this who will say, "Look, I'm a fundamental trader and I trade really well." That's great. But for most people, I believe that fundamental trading's not that easy. The flaws with Technical trading Technical trading. Well, as a technical trader, I also see the flaws of that. And with technical trading, the problem is is that so many people get caught up with indicators, just too many indicators, get their charts cluttered, they get information overload, confusion, all those type of things. You know, one timeframe's telling you something, or buy, then another timeframe's telling you you should be selling. And so you get complete confusion there. I trade Candlesticks But as a technical trader, I'm more based and focused on candlesticks and using candlesticks. Well they've been around for centuries so I figured when I started trading, "Look, if these candlesticks, Japanese candlesticks, have been around for centuries, I really should start looking at them and trying to understand why they are so successful." And like all things, you know, there are flaws in every system, nothing is perfect. I'm not saying just go out there and understand candle patterns and all of a sudden your trading will be perfect, that's not going to happen. But it's understanding how to use candle patterns and candlesticks. And I've developed, I suppose, my own take on them. I don't use the traditional, you know, looking at multiple candlesticks and flags and triangles and those type of things. Focus on the individual candle I'm more focused on the individual candle that has just closed. Many benefits to that. Number one, you can trade different timeframe charts, but you only need to look at your charts at the close of a candle. So if you're trading, say a four hour chart, I know that, now I'm recording this, I've got another three and a half hours before I need to look at my four hour charts. It makes life very, very easy to do. It also means I can make my analysis once the candle has closed. Of course when it's closed it's not going to be moving anymore, there's no movement of indicators, horizontal levels are set, and it makes things very, very easy to do. And you can make your analysis without too much rush, you're not stressed, forcing to either be at your computer or to take a trade like right now, like you would if you were say a news trader. So that's another one of the benefits. A candle paints a picture And also, when you think about how a candle has been made,

 Podcast: Focus on being a good trader and forget the money In this video: 00:34 – Why it is important you focus on being a good trader 01:20 - Don’t run before you can walk 01:56 – Learn how to become good and get training 02:22 – Don’t focus on the money 02:55 – How do you learn how to trade well? 03:33 – You must start at the beginning 04:26 – Taking a course can short cut the learning process 05:25 – A large account size does not matter I'm going to explain today why you need to focus on being a good trader, and don't focus on how much money you're making. Let's explain more right now. Hi, traders. It's Andrew Mitchem here, from The Forex Trading Coach with video and podcast number 321. A really, really important lesson for you today, especially if you're new to trading. Why it is important you focus on being a good trader It's all about why it is so important that you focus on becoming a good trader. I'll explain more about what I mean. Each day, and it's many times a day, I receive emails from people saying, "Hey, I've heard about Forex. I want to get into it, make some money." "I've lost my job. I'm desperate for money." "I need some passive income." "How much do I need in my trading account because I need to make $1,000 a week?" "How much am I going to make?" "How long is it going to take me so I can make lots of money in trading?" All those type of questions, really, really, really dangerous, dangerous questions. Don’t run before you can walk The reason I say they're dangerous is because these kind of questions are from people that are trying to jump the gun. They're trying to run well before they can walk. Unfortunately, and I can say this with honesty with experience because I've seen it so many times over the last 15 years since I've been trading and the last 10 years, especially since I've been coaching is that if you come into trading with that kind of mindset, that type of mentality, unfortunately, the truth is it's not likely to end well. Learn how to become good and get training You think about it, you could go into any other profession. You want to become a lawyer or a doctor or a mechanic or a farmer or whatever it might be, you have to get some training, some tuition, and start at the beginning. You have to build those foundation blocks. If you don't have a good foundation, the rest of it is going to crumble, and trading is exactly the same. Don’t focus on the money Rather than focusing on how much money you're making or losing, focus on the traits, focus on becoming a good trader, focus on you, your ability to trade, the strategy that you're trading, your mindset. All those type of things are far more important at the beginning of your trading journey than worrying about how much money you're making or you want to make. You see, it's so important that you learn the strategy. How do you learn how to trade well? And how to do that when you're starting out because, unfortunately, the Internet is absolutely full, like, you know, of hype, of all these people driving around in flash sports cars, of taking private jets everywhere, sitting on beaches, drinking cocktails with their laptops, all those kind of crazy pictures that you see. Now, the reality, of course, is far different from that. Yes, you can make some incredible money from trading. I'm not suggesting that you cannot. Absolutely, you can. Once you master it, there's very little that beats it. You must start at the beginning However, you need to start at the beginning. We're kind of in this age of mentality where it says instant fix. You want something, it's on your phone, it's on Google. You want to take a picture, you can instantly do it, send it to people, all those type of things. It's kind of made our mentality when it comes to learning something, not that good. Trading is something you have to put the time and the effort in. How do you go about doing that? Well,

Podcast: Trading with High Reward:Risk Trades In this video: 00:34 – Reward:Risk is often overlooked 01:15 – Don’t worry so much about win rates 01:57 – Trade makes a massive 9.2:1 R:R 03:30 – A 2.3% account gain with a 0.25% account risk 03:56 – Live Webinar and 4 trades close for full profit I'd like to share with you the importance of achieving high reward to risk trades in your trading, how it can help you so much, and also let you know about a massive trade that we took last week. Closed profit this week for 9.2 reward to risk trade. Listen up. I've got some great tips for you. Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach video and podcast number 320. Reward:Risk is often overlooked Now reward to risk, sometimes not the most exciting part of Forex trading. It's often overlooked, but it's something that you should not overlook and it's something that you should really strive very hard to achieve high reward to risk trades in your trading. Why? Well, if nothing else, when you achieve a high reward to risk trade, not only does it make good profit in your bank account, but it gives you a massive boost. It gives you a huge amount of confidence, because what it then allows you to do is have maybe a few losing trades, but your profitable trade that you've just had eats up those small losses plus lots more, and that's why it's good. Don’t worry so much about win rates You see people get too caught up in talking about win rates, and I get it all the time. People say to me, "Hey Andrew, how many trades do you get as winning trades? What's your win percentage?" And I've seen people, true story, I've seen people with a 90% win rate who lose money because they have lots of small trades, and then one big losing trade. Lots of small trades, one big losing trade. So they might have lots and lots of gains, 90% gains, 90% winning trades, but they are still losing money, and that's not good. Dents your confidence cause that one big losing trade smashes through all those good trades that you've just slowly built up. Trade makes a massive 9.2:1 R:R Let's flip that in reverse and look at it the other way. You need to have high reward to risk trades, so the trade that I suggested on my membership site to my clients just last week on the 1st of May was a sell trade on the New Zealand dollar Japanese yen based on the monthly chart. So go and have a look at the monthly charts for the close rate for 2019, and you'll see the setup that we took. Now, we enter our trades with a part of our position at a retracement and part at the market order, so I split up a half percent risk and total quarter percent risk at the retracement if it gets that quarter percent at the market. Now unfortunately our retracement order didn't quite get filled by just four pips. That missed being the perfect retracement by four pips. If it hadn't made profit, it would have made a 214 pips, and it would have made a 3.2 reward to risk trade. Still really nice, however our market order, which obviously it was in the market at the beginning of the month, had a very small stop loss. Only 22 pips stop loss because that's where it needed to be, and it had a huge 214 pip profit target, which it hit yesterday on the 9th of May, so we ended up making 214 pips. That doesn't matter. What does matter is that we had a small stop loss, and again the small stop loss is not even the point. The point is we made a massive 9.2 to one reward to risk gain out of that trade. That is absolutely huge. A 2.3% account gain with a 0.25% account risk So with our quarter percent risk on that one trade, it still made us a massive 2.3% gain on our account. So think of it that way. Quarter percent risk, real tiny, tiny risk, but a huge 2.3% account gain. Very, very important you see that happen on your charts and you see those gains. It really is a huge boost to your confidence. Live Webinar and 4 trades close for full profit

Podcast: Do you the lack time to trade correctly? In this weekly video: 00:29 – The biggest problem – a lack of time 01:10 - How we can help you at TFTC 01:31 – Trader from Noosa, Australia on Weekly charts 02:45 – A massive +5.3% gain in the last week 04:30 – Details are below Do you find that you just don't have enough spare time or energy to trade the Forex market properly? If that's your issue, listen up. I've got some really great information to help you. Hey Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast #319. The biggest problem – a lack of time Last week I sent out some forms and I said to people, "Just let me know what your biggest trading problem is?" Without doubt, one of the biggest issues that many of you face is you just don't feel like you have enough time. Like there's just not enough hours in the day to do the things that you need to do. Time you've been to work, time you travel, time you got home, time you looked after the kids and fed them and put them to bed. Other commitments; sports, clubs, whatever it might be. That really the last thing that you feel like or having the energy to feel like doing is sitting down and watching the charts for hour upon hour upon hour just waiting for that set up to occur. It's a common problem and I really understand it and I really get it. How we can help you at TFTC So the great thing is about that is that I can definitely help you there. How do I know I can help you? Over the last 10 years I've helped so many people who have been in similar positions to you. Now with my strategy, the good thing about it is it works across all currency pairs. But more importantly, it works across all timeframe charts. Trader from Noosa, Australia on Weekly charts Now I'll give you an example. My very first client over in Noosa in Australia, beautiful part of the world. The guy that I taught ended up owning a running a five-star restaurant over there. He was the owner, one of the head chefs, just fully on commitment seven days a week. He had two young kids at the time as well. He ended up trading just the weekly charts and doing exceptionally well. Now I caught up with him on a Skype session about six months ago. He's now spent the last two years with his wife and his two kids travelling around Europe. He's just loving it; he's travelling from country to country and they are just absolutely having a fantastic time. He's still trading, but all he's doing now is he's trading the weekly charts like he used to plus he's adding the daily charts. So it means he's trading for 10 minutes once a day on his laptop. Shuts the laptop down, does his travelling, has a great day. Next day 10 minutes, move on. Really, really great way of trading. You can apply that whether you're travelling around the world with your wife and your kids or whether you just have so many commitments and lack of time at home doing what you're doing right now. A massive +5.3% gain in the last week To give you another example, in the last week with the daily trades we've made a 3.5% gain with only risking half of 1% on each trade. So 3.5% gain. Also on the weekly charts... I've just closed out a weekly chart trade just yesterday, made a 1.8% gain on the Pound/Australian Dollar. We've got two trades still open on the weekly charts right now as I'm making this video with a open position of 1.5% gain. But on the closed trades, the daily chart trades and that one weekly chart trade, we've made a net of + 5.3% gain so far in the last week. So 5.3% and that's taken us 10 minutes a day, if that. The other benefit is if you become a client, all of those trades with the exact entry and exits and the reasons for taking the trade, more importantly the actual reasons, were posted on our membership site for people to follow along, copy and earn from but also to learn from. So 5.3% in the last week from 10 minutes once a day and that's it.

 Podcast: What is missing from your trading? In this weekly video: 00:27 – Something different this week – what is holding you back? 01:16 – Everyone has different trading issues. What is yours? 01:41 – Complete the form on this page 02:17 – Let me help you 02:38 – Feel free to share this video What is it that you need the most help with in order to turn your trading around? Let's get into that and more, right now. Hi Forex Traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 318. Something different this week – what is holding you back? So something a little bit different today, normally I'm explaining how I trade and different things that I'm looking for to help you with your trading, but today I figured let's change that around, and I going to ask you the question. I want to ask you what it is that I can do to best help you. What do you need the most, help with what's holding you back, what's your biggest concerns, biggest frustrations with trading in general. So, why don't you ask me the question, and I'll use my 15 years of knowledge and my wealth of experience as a full-time trader of 15 years and a coach for thousands of traders worldwide for the last 10+ years. Let me share some information with you, but let's make it specific for what you have a problem with. Everyone has different trading issues. What is yours? 'Cause everybody has different stages to the journey, everybody has different issues. It might be a lack of finance, it might be a lack of time, it might a lack of support from a partner, it might be you're too reactive, it may be all sorts of manner of different things, but what I want to know to best help you is let me know the problems that you have. Complete the form on this page So on this page you'll find there's a form. What you need to do is let me know your biggest training problem on that form. It'll come through and then I will get back to you with some suggestions. If you're watching this video on YouTube, you'll find a link below this video, which will then take you through to a page with the form on it, and if you're listening to me on a podcast, and you're not watching a video, all you need to do is just email me directly, [email protected] and I will then get back to you as well. Let me help you Come back to me, let me help you, and like I said, just use the information and I've gained over the years as a full-time trader, a fund manager, someone that's created algorithms, and someone that's done the coaching as well. If there is anything at all that I can help you with, I'll be glad to do so. Feel free to share this video And if you know anybody else that is interested in trading, feel free to share this video. Feel free to share the link through to the form and so I can help them as well. My aim as a coach is to help as many people do well out of this amazing industry as possible. We're all here, we're all in the same boat or in the same position as individual Forex traders all wanting to make money out of the Forex market and enjoy it and better ourselves and better our lives for us and our families. Fill in your details on the form that will be on this page, and I will get back to you as soon as I can with some helpful tips and information. Click Here To Know More About The Course

 Podcast: Trading the FX market when volatility is low In this weekly video: 00:30 – A topical subject – a lack of volatility 01:00 - Do not have a strategy that requires massive trends 01:27 – You need patience to trade these conditions 02:10 – Looking at several different time frame charts 03:00 – Hardly any strong trends right now 03:48 – Get your account auto traded at AMForexCopier.com 04:44 – Making sure your trading strategy is a good one How do you trade the Forex market when volatility is low, exactly like we've seen so far this year in 2019? Let's discuss that and more right now. Hi Forex traders, it's Andrew Mitchem here from the Forex Trading Coach with video and podcast number 317. A topical subject – a lack of volatility I want to discuss a really important subject because it's topical for right now. It's been emailed in from Raphael, and Raphael said, "Andrew can you talk about the Forex market and the volatility or the lack of volatility that we've seen over the past three months?" So here we are in April, 2019, and pretty much since the beginning of the year since January volatility has been quite low. There's not been a great deal happening on the markets in general. There's different ways to approach that, and we'll discuss those shortly. Do not have a strategy that requires massive trends Now what I did need to say to you is that if your trading strategy requires there to be huge trends, like day after day after day or week after week of big up-trends and big down-trends, if that's what your strategy requires in order to be successful, I'm picking that right now here we are in April, 2019, I'm guessing your year has not started well. Maybe that's the issue that Raphael is having. You need patience to trade these conditions So there's different ways of looking at it. To me, you need to have patience in your trading. It's really, really important that you have patience. Don't just go taking trades just for the sake of trading. If there's nothing there, don't take anything. As an example, this week on the weekly charts I've suggested there are no trades to my clients. Yes, I've suggested some strength and weaknesses based on the weekly charts, but no specific trades. Last week there were three. When I hold my live webinars and I discuss the trades that we've seen, the good set-ups according to our strategy over the past week, sometimes I'm finding that the four hour charts would have tremendous setups and then another week the four hour charts have very few setups. Looking at several different time frame charts So it all comes down to when you get these low volatility trading conditions is having the ability to look at several different timeframe charts. That's why we use offline charts and we have the ability to look on MT4 at charts like six hours, eight hours, 12 hour charts as well as the normal standard MT4 charts. Because when we have the ability to look at different timeframe charts, that's what gives us the edge and that's what gives us the flexibility to look at what's happening in the market and only picking those very top quality A-grade setups. Really important that you do that. If you are trading say the daily charts and you need to have strength after strength after strength, then right now you're not doing well. So it comes down to trading what you see on the charts at the time. Hardly any strong trends right now Using some strength and weakness as well. Really important that you do that, because the market is kind of all over the place. It's not a really obvious trend in hardly any currency pairs right now. Even the Euro and even the Pound with all the Brexit news going on. When you would expect the Pound to be dropping sometimes it's going back up again. So really important that you use what you see on the charts right now. Use strength and weakness. Use my guide if you want. I publish free analysis every single day on my websi...

 Podcast: Using Historical Highs & Lows In this weekly video: 00:28 – Trader asks a question about using previous highs and lows 01:08 - Highs and lows are set, not subjective 01:38 – Bouncing at a round numbers 02:13 – Factors creating highs and lows 02:38 – How I trade and use highs and lows 03:33 – Using these levels to help us trade better 04:28 – Where to put your profit target? 05:35 – Email me with your questions I'm gonna explain how to use historical highs and lows in the price action to aid you with your Forex trading entry and exits. Let's get into that more right now. Hi traders, it's Andrew Mitchem here from the Forex Trading Coach with the video and podcast number 316. Trader asks a question about using previous highs and lows I've received an email here from Colin. Colin said to me, "Hey Andrew, can you talk about historical prices? Highs and lows, support and resistance, and how they correlate with aiding entry and exit levels within the market." Colin that's an excellent question. Quite simply, we use those levels all of the time. Why? Well, what I love about historical highs and lows is they're actual levels. You can see them on your charts. Everybody can see them. It doesn't matter where in the world you are, what timeframes you're trading, doesn't matter what trading platform you're on. All those type of things. Highs and lows are set, not subjective Everybody can see where the price is stored, highs and lows, where they are. They're not subjective. When you start drawing trend lines ... Now, we do use trend lines but when you start drawing things like trend lines, and you're looking at other levels, and certainly when you can't start adding indicators on your charts, they become quite subjective. The settings will be different depending on your price fee, depending on the timeframe chart you're on, depending on your broker. All those type of things, they can be different but highs and lows are there. They're set. Now, when you go a little bit further into them, and delve a bit deeper, you'll probably find that when you look at them, and look at the actual price itself, you'll quite often find that historical highs and lows. Bouncing at a round numbers It's remarkable how often they do bounce at what I call a round number. It's a price level ending in a 00 or a 50. You know, they happen all of the time when you look at your charts. Why? Because that's where the big players are pushing the market. That's where they reverse the market. All those type of levels, the 50s and the 00s, historically become very good high and low levels, bounce levels. Factors creating highs and lows Those highs and lows that you see on your chart may also be caused by other factors. They could be caused by news events suddenly changing the market or they could become like fib levels, Fibonacci levels, all those type of things. When it comes to it though, the actual reality is, sometimes you actually really don't need to know why they've occurred, all you need to know is that they have, and you need to seed them, and be able to use them. How I trade and use highs and lows The way that I like to trade, as you know, I look at individual candle shapes and patterns, where they've occurred and why. The where and why, we now start to add historical highs and lows into that. Let's say that you're buying a currency pair. Let's say you're buying the British pound, US dollar, let's say. It's come down to what was historical low? It may be a low that happened just yesterday, it could be a low that happened last week, last month. Who knows? Depends on the timeframe chart that you're on but you've seen the price come down and it's bounced at a level that, on your chart when you look to the left hand side you can see that it has bounced there. When it last hit that level it pushed up quite substantially. Using these levels to help us trade better Now,

 Podcast: Creating your Dream Lifestyle using Forex Trading In this weekly video: 00:26 – Creating the dream and the lifestyle 01:07 - Are you serious about wanting to trade? 02:04 – Teaching you a skill 03:00 – Your account size right now does not matter 03:32 – Comments and videos from trading clients 07:06 – We’re not about selling a course 07:39 – 10th Birthday this week – don’t miss out on this opportunity Wanted to talk today about creating your dream lifestyle by using forex to aid you in that. So let's get into that and more right now. Hey Forex Traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 315. Creating the dream and the lifestyle I want to talk all about what it is that you're after out of your life, creating the dream, creating the lifestyle that you're after, and how trading can help you do that. Now, if you're watching this video, you'll see that down here, here's one of my best mates. My dog called Pip, and appropriately enough, she's called Pip as a forex trader. But here's Pip off to go and get a ball probably, but I'm working from home. This is my house there. Sat by the pool here today, filming this for you, because trading has allowed me to create the lifestyle that I'm after, and I'd like to help you do that as well. When you think about it, with The Forex Trading Coach, we're helping people create dreams. We're helping people create lifestyles. Are you serious about wanting to trade? If you're serious about changing the way that you're currently doing things, and you like trading to be a part of that, then you're the sort of person that really should be with us, on board with us. You see, we're not about creating multimillionaires overnight. We're not about unrealistic dreams and expectations. That's not us at all. We're real people, real traders. You see, what I think the best thing for a lot of people to do is to ... When they join with The Forex Trading Coach, it's not to give up your day job straight away. Don't do that. That's silly. That's unrealistic. Don't expect to retire next year from trading straight away. Teaching you a skill But what we're about is teaching you a skill. We're about teaching you the ability to be able to make money through trading, and you don't even need money straight away. That's the other thing. A lot of people come to me and they say, "Hey Andrew. Look, I can't afford to have a decent enough live account to make a living from." Now of course you're not, because most people don't have that kind of disposable income. Even if you did, you'd be absolutely stupid to put that into a trading account straight away if you don't know what you're doing. So we're about teaching you the ability to be able to trade. I can help you in many ways by getting you to become a good trader, and then you can sell trading signals. You could sell your system through having a good record on places like Myfxbook and gain passive income. Plenty and plenty of ways to grow your account if your account size is the issue right now. Your account size right now does not matter But to be perfectly honest and perfectly blunt, your account size right now does not matter because it's understanding how to trade that matters right now. So, get that right, and then you can create that lifestyle that you're looking for. You can eventually get to a stage where you say goodbye to your boss. You're spending more time at home with your family or travelling, whatever it is that you want to do, and that's really what we are about creating. We want to help people create that lifestyle and not be glued to the charts either. So, lots of lots of different ways we can help you. Comments and videos from trading clients Now, I wanted to ... I've got a group of printed out sheets here. I wanted just to read through a couple of these emails that I've received over the last sort of few weeks. But first of all,

 Podcast: Why Our Trading Strategy Works In this weekly video: 00:25 – Why does your system work? 00:43 - Issues so many traders have 01:35 – A trader who traded 5 minute charts 02:20 – My strategy is realistic to trade 02:58 – Why does my strategy work? 04:30 – You don’t need to understand all candle patterns 05:50 – Our 10th birthday at The Forex Trading Coach I want to explain why I believe my trading strategy works so well. So let's say I talk about that and more right now. Hey, traders, Andrew Mitchem here from The Forex Trading Coach with video and podcast number 314. Why does your system work? And I often get asked questions, people say to me, "Hey, Andrew, why is it that your system works, or why do you believe it works? How does it help so many people?" And there's a number of reasons, but I just wanted to share with you probably issues that you may be having as a trader. You see when people start trading. Issues so many traders have They think they need to clutter their charts with indicators all over the place. They need to either think that they need to be an expert in fundamentals. They think they need to trade all of the time. Now, most people when they start off, because trading's exciting and you want to take lots of trades, otherwise why be a trader, they think they need to take trades all the time. So most people put a whole jumble of indicators, and lines, and arrows, and squiggly bits all over their charts, they use supposed great combination of indicators and everybody thinks they're going to get the perfect combination of indicators. They're going to add this one, and add this one, and overlay that one, and only take when this one gets to 50%, and overboard, and all these type of things, and they want to do this on one minute and five minute charts at least to complete confusion. A trader who traded 5 minute charts Now, I actually knew a guy, who actually lived not far from me here in Hamilton. A number of years I went to see him, and he actually traded really well and made a lot of money, this guy made a lot of money off five minute charts. Trouble was, he got completely burnt out and he doesn't trade today. And I went to his office, and he had this beautiful house, lovely house, but it was all darkened rooms, he had screens everywhere, completely it was his own office, no kids allowed in it, no wife allowed in it, and it was just purely trading, that's all he did. But the trouble is, he spent all day trading, he spent all evening trading, he spent all night trading, and yes he made a lot of money at the time, but he completely burnt out, it wasn't real. My strategy is realistic to trade And I think that a big part of trading and why my system works, and it works for myself and so many other people, is because it's real, it's practical. Now I started trading 15 years ago, I started coaching 10 years ago in April, so we're almost up to our 10th birthday. Now I've been teaching the same way, and I've been actually trading the same way now for 12 years. Nothings changed with the way I've traded. So after two years of working really well The Forex Trading Coach started, but it took me three years up to that to get to that stage. But 12 years with the same strategy, nothings changed, and it's been through all different market conditions, et cetera. Why does my strategy work? So why does it work? Well, first of all, it works on all pairs and all timeframes, and it allows you to have a lifestyle, and I think that's really important. That's why we're still going all these years later, because it is real, but it doesn't require you to sit at the computer all day. So the reasons why it works will be this. We're only looking to potentially taking new trade on the close of a candle. So because I'm a price action based trader, I'm not looking at candle flags, and triangles, and ellet wave and all those things which sometimes look really,

: Podcast: Making Sense of the Mass of Forex News In this weekly video: 00:26 – Trader from Russia says the news is confusing 00:55 – A Fundamental trader or a Technical Trader 01:35 – Real time examples 02:18 – The news impact is likely to be very low 03:28 – Simplify your trading and don’t worry about the news events How can you trade Forex realistically when there's so much happening in the news around the world on a day-by-day basis? Let's talk about that and more right now. Hey, traders. Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 313. Trader from Russia says the news is confusing I want to explain about an email that I've had sent to me from a trader in Russia, and he said to me. He said, "Andrew, I can't trade Forex because it's too much to consider. It involves two countries with their politics affecting currencies and so many things going on in those currencies that it is impossible to keep up with everything. Can you help me?" The short answer is, "Absolutely. Yes." A Fundamental trader or a Technical Trader When you think about it, as traders, you've got two different options. You can either go to be a fundamental trader or technical trader, so as a fundamental trader, you're really concerned with news events, and what the event is, and what the impact is on the currency. Things like that, and you see a lot of images online of people watching TV screens, and news channels, and all those type of things. My simple advice to you is to ignore that and ignore most of that inclination because quite honestly, you don't need it. My suggestion is that you look at Forex Factory at beginning of the week and maybe on each day, and just have a look at the high impact news announcements. Real time examples To give you an example of how little there is actually happening there in the market, today, Friday, the 15th of March, 2019, if you have a look on Forex Factory, there are only three high-impact news announcements for today scheduled for Friday. All three of them affect the Japanese Yen. Now, the likelihood of them actually making any significant movement in the Japanese Yen is quite ... probably quite small. The likelihood of it happening is quite small, and even if it does affect the Yen, how is that really going to affect you if you're trading other currencies or even if you're trading the Yen? It's likely not to affect you because if you're a technical trader like I am and as I teach, it's all factored into the charts anyway. The news impact is likely to be very low But let's say you are trading pick a currency, the Canadian against the Swiss Franc, let's say, or even the Euro, US. The impact of that Japanese Yen, those three high-impact news announcements for today, it's not going to affect you so it really doesn't matter. Yes, it's nice to know what's happening in Japan or what's happening in different countries, but when you think about it, as a trader, even if you focused on that and just understood what was happening, is the news good or bad, just to get a gauge on what's happening, you've only got eight main currencies anyway. It's not like you're sort of looking at them, stocks and shares, and worrying about different companies and what is happening with different boards, and chairmans, and dividens, and all those type of things. It's happening all the time with thousands and thousands of companies. We're just talking eight currencies, so really, it's very, very easy to do in fact, and you haven't got to worry about those big events, and as I mentioned, when it comes to the way that we trade, the news announcements don't affect us anyway. It's all taken into account, and the charts tell you everything that you need to know. Simplify your trading and don’t worry about the news events So I hope that helps. Simplify your life. Simplify your trading. Don't make it difficult. Don't get too confused by it.

: Podcast: How to Trade my Strength & Weakness Analysis In this weekly video: 00:29 – Daily Strength & Weakness Analysis 00:55 - Trades posted free by 6pm EST New York Time 01:29 – The likely direction for the upcoming day 02:20 – How to best trade the analysis 02:55 – Why trade with the trend? 04:40 – If you don’t have your own working FX strategy 05:30 – What happens if the price goes the other way? 06:33 – We’re not perfect! I'm going to explain how you can best take advantage of the free posts that I put on my website each day, where I explain the likely daily directions and strength and weakness analysis. So let's get into that and more right now. Hey Traders, Andrew Mitchem here from the Forex Trading Coach video and podcast number 312. Daily Strength & Weakness Analysis Want to talk about the strength and weakness analysis, that post on my website each day. If you got into the trade section or the Forex Trading Coach and on the right hand side each day you will see that I update it at about six o'clock eastern standard time, that's New York time each day. The likely directions, the strength and weakness analysis of various currency pairs for the upcoming day for the next 24 hours. Trades posted free by 6pm EST New York Time Now the trading day is for 5:00 PM New York time to 5:30 PM New York time. And at that time I'm posting trades like specific trades from my class and then by 6:00 PM we had the free analysis, which you can get if you're not a client every single day. Now the free analysis, of course it's free but because it's free, it is a very basic form of what my clients get like you don't get the specific trades, you don't get the specific reasons for trades, you don't get the intranets for trades and don't get the bigger picture weekly and monthly trades either. The likely direction for the upcoming day But what you do get is the likely direction for the upcoming day and the currency strength and weakness of where I see potential bullish currency pairs and where I see potential bearish currency pairs. So as mentioned only clients get the next level, but there's lots and lots of analysis and useful information there for you to take advantage of if you're not a client. Around it's probably six or seven years ago, Forex Peace Army, the well known and respected review company, picked up on my free analysis and asked if I could post on their site each day, which I have done ever since. And then leading on from that, a whole range of forex companies throughout the whole world, all over the Internet pick up on that daily analysis because they see it as valuable information for their readers. That sort of now available for you every single day to log in and take advantage of. How to best trade the analysis Now I had an email from a trader called Henry who said to me, "Hey Andrew, can you just talk about it, make a video about it, and explain how we can best make use of that analysis that you post there each day." How many trade should we take, when should we enter? All those kinds of things. So the important thing to understand that these are not specific trades, they are likely trends, they're likely directions. And what you should be doing is you should be using your own analysis to take trades that are in that same direction as those likely trends that I'm seeing. Why trade with the trend? And why would you do that? Well, you think about this logically. If I'm seeing lots of strength in the Australian dollar, let's say as an example, and I'm seeing lots of weakness in the US dollar and against the Yen again, as an example, I'm likely to be saying for this day, I'm looking at bullish trades buy trades on the Australia in US dollar and the Australian Yen. So what that means is when you're taking your own trades using your own strategy, if you see sell trades like potential good setups that are sell trades on the Aussie Yen,

: Podcast: Trade what you see and not what you think might happen In this weekly video: 00:28 – Read the charts 00:45 - The Brexit example 01:50 – The Pound should be falling, or not? 02:42 – The importance of trading what the charts show you 03:48 – Trading with the KISS approach I want to talk about why you as a trader should trade what you see on your charts and not what you think might happen. There's a big difference between the two, so let's get into it. Hey traders, Andrew Mitchem here from The Forex Trading Coach with video on podcast number 311. Read the charts And I want to talk about something that's very topical right now, especially when you think about the British pound. And I want to talk about the importance of why, to be a good trader and a successful trader, you should really trade what you see on your charts and not what you think should or might happen to a currency path. The Brexit example I'll give you a great example. So here we are today, 1st of March, 2019. Now I live in New Zealand, but on the other side of the world far away from me we're having that Brexit issue still dragging on. It just seems like it's been going on for months and months and months. And all I read on the news is Theresa May might be doing this, Corbyn might be doing that. Are they going to leave? Yes or no? Brexit, is it going to carry on with the vote that everybody wanted to leave, or the majority wanted to leave? Are they going to change things? What's happening with Ireland? Europe's getting involved. And to me, as an observer, it just seems like a complete and utter mess, and nobody seems to know what's happening. You kind of get that with I suppose a lot of politics around the world. But it seems a particularly big mess, and dragging on and on and on. So you think about that logically. What could or should that be doing to the British pound? Well, to me I'm thinking, well uncertainty. Nobody knows what's happening. Are they going to leave? Are they going to make big exit fees to leave Europe? The Pound should be falling, or not? The pound should be absolutely crashing. All these big businesses, and industries, and banks, they're all saying, "We're going to leave Britain if they leave Europe," or the Eurozone. And everybody should really be thinking the pound has to fall. It has to fall. It has to crash. Yet you go and look at your charts for this year, for the first two completed months of this year, and all we've seen is the pound against the US dollar has rise about 950 pips. Against the Australian dollar it's risen about 1100 pips. Against the Yen, it's risen about 1500 pips. And it's almost a straight line. It's just gone straight up when everything that you think should say it should be going straight down. It should be doing the opposite. The importance of trading what the charts show you So we talked about this on my webinar last night with my class. And it's all about the importance of trading what you see on the charts, because if you think about this fundamentally or almost logically, you'd be just taking sell positions, or thinking you should be looking for sell positions all the time on the pound. Yet this year, so many weeks of this year so far, I've said to my class, "On a weekly bars, I'm looking for buy/trades on the pound/US, or pound/Yen, pound/Aussie, pound/Kiwi," because that's what we're seeing. And then you take that down to a slightly smaller timeframe and you look at each day, and many, many times we've been saying buy/trades on the British pound pairs because that's what we're seeing. And that's the important thing here. Look at what the charts are doing. It doesn't matter what you think, or what someone else thinks, or what CNN thinks, or what some fundamental trader thinks. It does not matter. The only thing that matters is what's happening on the charts right now, and making sure that you're on the right side of that.

: Podcast: The Best Way to Become a Successful Forex Trader In this weekly video: 00:22 – How you can become a successful Forex trader 01:10 – We teach how to trade in real time 02:17 – We show you how to trade from the right hand side of the chart 02:27 – #1 - Daily Chart Trades 03:26 – #2 – Live Weekly 2 hour long webinars 04:07 – #3 – Client’s Forum Site 05:17 – If you’d like our help with any trading issues What's the best way for you to learn how to become a successful forex trader? Let's talk about that and more right now. Hi, forex traders, Andrew Mitchem here from The Forex Trading Coach with video and podcast number 310. How you can become a successful Forex trader Now we're gonna talk about how you can become a successful forex trader and what is the best way for you to learn how to do that. They say everybody's different, everybody learns in different ways. Of course, some people are visual, some like to do things themselves, some like to read. Many, many different ways. But I firmly believe that what sets us apart as a forex education company is that first of all, we're real traders. I'm making this video and podcast. I'm not home in my office with my screens behind me here. I'm a real trader doing this day in, day out. And have done so for 15 years. So that's a really important point. We're not set in some office in London, or New York, or Sydney, or somewhere with call centres. We're not that at all. That's far from what we are. We're real traders. So that's the first thing. We teach how to trade in real time The second thing is is that because we're real traders, we teach people how to trade the way that we trade in real time. And I think that for you as someone who's learning how to trade a strategy is absolutely critical. And that's what sets us apart. You see, we've got three different ways of teaching our clients how to trade our strategy in real time. You can go online, and you can see videos, and you can see screenshots of the perfect trade, and someone's highlighted this trade, and it's working just beautifully. You notice how it does that. It always works beautifully. But the problem is that you as a trader, you get to understand the strategy, and you get to learn it, et cetera. You pay for it. And you cannot make it work in real time. That becomes the problem. And the issue there is that hindsight, everybody's multi, multi millionaires. Simple. And the problem is that you have to learn to trade in real time from the right hand side of the charts without any of that hindsight. Without any of those losing trades. You've gotta trade the perfect trade every time. But how do you find it? We show you how to trade from the right hand side of the chart And so that's what makes us different because we teach that trading from the right hand side of the chart because that's what we do ourselves. Three different ways that we help our clients with this. #1 - Daily Chart Trades The first one is that we place data chart trades on our membership site for clients to follow along. We analyse the data charts each day. And between 5:15 and 5:30 PM Eastern Standard Time, so that's about 15 to 30 minutes after the day the candle opens the new day, we place specific trades based on the daily charts for our clients to follow. So it's all in real time. The market hasn't even started to move yet at that time of the day. We're saying these are the trades that we're looking at, giving all the reasons for the trade set up, plus we are giving the exact entry and exit levels for people to follow along, learn from, and also to earn from. But the most important part of that is the learning because it's learning to train your eye in real time from that right hand side of the chart without any of the benefit of what might happen next or hindsight. So really important. That's a daily occurrence. You get that five days a week. #2 – Live Weekly 2 hour long webinars

: Podcast: What Makes an A+ Quality Trade Setup In this weekly video: 00:24 – This is so important to your trading success 00:49 - Live trading webinar 01:25 – Trading is not just about the next one trade 02:16 – Training your eye to see that good quality setup 03:03 – A good strategy will win through over time 04:00 – Client makes +3% on the live webinar What makes an A+ quality trade set up on your charts? It's really important. Let's discuss this and more right now. Hey traders, Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 309. This is so important to your trading success Now I wanted to talk about something that's really, really important to your trading success. It will help you in so many ways. And it's all about identifying what we call an A+ quality trade set up on your charts. Why is that important? Well it will help you become more successful. It would almost guarantee your success if you stick to these rules. Live trading webinar So last night with my clients, we held our live weekly two hour trading room webinar. And we talked about the importance of this, about looking for A+ trade setups. But what is an A+ trade set up? So each person, depending on your strategy, it will be different. But at the Forex Trading Coach, we have a defined, clear set of rules that we're looking for to enter a trade. Now it's really important to understand, to help you with your emotions and help with psychology that you go through this process and you stick to it. Trading is not just about the next one trade Because a lot of people will take one profitable trade and all of a sudden they're over the moon and trading is fantastic and then they do something stupid next time. Or they'll have a loss or two or three losses in a row and all of a sudden trading's terrible, I hate it, I'm losing money. It's my broker's fault, and whatever it is. You get the picture. So what I suggest to clients do is I'm suggesting that they have the set of rules that we look for and every time they take a trade, does this individual trade set up meet this set of rules that we're looking for? Yes or no. And not all the time is every single one of those going to be perfect, but do the vast majority of these setups or this setup, does it have the vast majority of these technical trade set up things that we're looking for? And if it does, fantastic, take the trade. Training your eye to see that good quality setup Because what it means is you get to train your eye to look for that setup. It doesn't matter what the timeframe chart is, what the currency pair is, whether it's the New Zealand dollar because I live here, or whether it's the US dollar because you live in America. It does not matter. Trade the set up because what that will give you is the ability to train your eye to see the setup no matter what the pair, no matter what the timeframe. What it also does is it takes away those highs and lows of that emotion, because if the trade matches your criteria that you're looking for and you take the trade and it gets to your profit target, fantastic. If it doesn't, if it gets stopped, that is something changes, it doesn't matter because you traded the trade setup itself. A good strategy will win through over time And you know if you have a good system, a good strategy like we do that has a high reward for risk, but we know without doubt that if you traded 100 setups of what we call A+ quality setups, over those hundred trades, you will without a doubt be profitable. So that's why it's really important to do that. Now a client of mine created a journal and every trade he takes he analyses, is it good enough to meet our criteria? Yes or no, if it does he takes the trade, takes a screenshot. And that he said itself is massively helping him. So that is one thing I really want to stress there about making sure you journal your trades and your entry rates.

 Podcast: The Importance of Good Quality Education In this weekly video: 00:25 – The internet is full of Forex education 01:03 - Not just education but you need “Good Education” 01:55 – A call from a trader in Texas 02:50 – We are real traders not a call centre 04:04 – A trading example from the CAD/JPY D1 chart 05:55 – Learnt more in a 15 minute call than from a paid course 06:30 – We’ve been helping traders for almost 10 years – that’s real proof Let's explain the importance of getting educated, not only that, well-educated with something that works. Let's talk about that and more right now. Hey, traders, Andrew Mitchem here from the Forex Trading Coach, with video and podcast number 308. The internet is full of Forex education I've got a story to share with you regarding a phone call that I had this morning from a guy in Texas over in America, but more about that shortly. The point that I want to make here is online, you will find forex education everywhere. You'll even find it physically in your own local town or city as well, but like with most things online, there are a few good things, and quite a lot of average, and an enormous amount of rubbish, trash, whichever word you want to use, and that's what the online world is like, and forex education is exactly the same. Not just education but you need “Good Education” You see, getting yourself educated is good, but getting good education is what makes the difference. Not just getting a course, and assuming that's going to fix all your forex problems. It's finding the right course, something that suits you. It's finding a group of traders who trade profitably successfully, enjoy what they're doing, happy to share the knowledge, all those kinds of things, and something that works for you, in terms of your available time, all those kinds of things. Really important that you seek good education, something that's proven, so ... That applies to anything in life. You could be learning a sport, you could be learning a musical instrument, you could be learning anything. You've got to get yourself not just educated, but good, correct education. This is exactly the same in the Forex market. A call from a trader in Texas So back to the phone call that I received from the guy in Texas this morning. He phoned me up and said, "Hey, Andrew, look, I've been with this course over in America. I'm finding I'm not winning, I'm losing money. My risk is really high. They're suggesting I trade 3% risk per trade. I'm trading 15 minute timeframe charts. I can't get hold of anybody, and when I do, they reply by email a week later, different person all the time." It just sounded like this guy has really fed up. He'd invested considerable amount of money and time into this company, and it just wasn't working for him, but it was more the actual, the whole process, the whole strategy, the followup process, the lack of support. All that was frustrating him, so he searched online, he found me at the top of Google, gave me a call and we had a really good chat about how I trade, and how I can help him progress further with his trading. We are real traders not a call centre During that conversation I said, "Well, first of all, you know, we're real traders. We're trading. Here's the chart behind me here. We're trading in real time." On our webinars, we trade live in real time. On our daily trade suggestions we put out there for clients to copy, and follow, and learn from. I said, "By the way, this week we've suggested five trades, all five have hit their profit targets so far." We're taking half percent risk, total portrayed with a quarter percent risk at the market order, quarter percent at a retracement order, and again, all these levels are explained and in the course until you get to know how and why to take those trades. We're taking very, very low risk per trade, but we're up 3% just by sort of following the daily trading suggestions just this week.

Podcast: What proportion of your money should you trade? In this weekly video: 00:29 – How much of your savings should you trade? 01:02 – The 2 different options for you 01:45 – Trading example 02:02 – This is a discussion – NOT financial advice 03:00 – Which is the best choice for you? 04:14 – Don’t keep all of your funds with one broker 05:18 – Email me with any questions Should you put all of your money and your savings into your Forex account trade that, yes or no? Let's talk about that and more right now. Hey, traders, Andrew Mitchem here, the Forex trading coach with video and podcast number 307. Now I've got a really interesting topic to discuss today. How much of your savings should you trade? Now it came back from an email here from a client of mine and we talked about this in quite some depth on my latest live Webinar with my clients that I hold each week and it was all about what should we do with our funds. And basically this guy said, "Should I put my savings and take money out of my bank account and put it into my trading account based on the fact that, we trade a strategy that works and based on the fact that we trade low risk per trade?" What should I do? And he said, "Well, basically, really is there any advantage one way or the other what I do?" The 2 different options for you So the two scenarios would be one, I take out a funds and additional savings, put it into my Forex account, trade it really low risk. And probably make way more than the bank are ever going to pay me in a year, I'm probably going to make that in a month and that would be very fair pull. The other thing we discussed was, why don't you maybe look at putting half of that money that you would allocate to your Forex account into your account and half leave with the bank where sure, short may be earning very, very low interest rate but also, I suppose you could say it's secure or secure as you can get. So there's two different options. And if you took that second option, of course you could say, let's pick some numbers. Trading example Let's say I had $100,000 to try up at $50,000 and with my broker, 50,000 in the bank. And I'm assuming when I trade, I'm trading a 100,000, so I'm doubling up on my normal risk. So you've got a couple of options there and you can play around with the numbers as it suits you. This is a discussion – NOT financial advice The important things are this, there's two things really. Number one, I've got to say this is not financial advice. I'm not saying you should go and do this. This was purely a discussion that we had on the live Webinar and I just wanted to share it with you because I think it's something that a lot of people don't give you that normal everyday experience. And this is coming from experience. This is not a suggestions or advice, really important that point. The second point is that I'm assuming that if you're thinking, "Hey Andrew, which way do I go?" That you can actually trade And that's another really important point. The guy that I was talking about, he can trade, he's been in all my course for awhile. He's doing really well, low risk, et cetera. He's not gambling, he's not doing silly things. So there's a couple of assumptions there. I'm assuming that you can trade profitably, consistently and you're taking low risk. So assuming that comes into play, and if you can't do that, then you need to come and see me first of all. But assuming you can then, which way you go? Which is the best choice for you? Well the choice of course is really yours, but just a few things to be aware of, here in New Zealand as a company that I've been using over the last year or so. It's called Halifax and Halifax in Australia had something happened back in around October, November, and as a result of Halifax Australia owning part of Halifax in New Zealand, which by the way, we're a really good broker. Our accounts have been frozen,

 Podcast: Should you follow Trader’s Sentiment? In this weekly video: 00:24 – Trader’s question from Norway 00:41 - Sentiment is hard to measure in the FX market 01:42 – Do you follow other traders? 02:04 – Why I use price action 02:50 – Trading against the sentiment 03:50 – Continuation patterns 04:39 – Send me your trading questions Should you follow sentiment from other traders when making your trading decisions? Let's talk about that and more right now. Hey, traders. It's Andrew Mitchem here from the The Forex Trading Coach with video and podcast number 306. Trader’s question from Norway Now I've received an email just this morning from a trader called Simon over in Norway. Simon said, "Hey Andrew, love your podcast, but can you chat about sentiment on a future podcast? Should we be following traders or should we go against them?" Sentiment is hard to measure in the FX market Simon, it's a really interesting question, because sentiment is quite difficult to measure in the Forex market. It depends where you get your information from. Are you looking at different websites? Are you looking at something like Reuters possibly? Are you looking at something like Forex Factory or FXStreet? They all show where traders are long or short on different currencies and where people are placing their positions right now. The problem is is they can only show the data that they can measure, so it's not uniform. It's not the same depending on where you get that data source from. When you think about it, in the Forex market, it's very difficult to measure, a little bit like volume. Go and have a look at the volume indicator on, say, your broker's platform, and then open up a different broker. The volume levels that you see are vastly different, and I supposed it depends on where the broker gets their data from. Is it just from their traders? Is it from their entire price feed? Where does it come from? Sentiment, very, very similar, can be the same issue. Do you follow other traders? If you are simply just following other people or you think, "I'm just going to do the opposite," because 95% of traders all lose, then it becomes quite dangerous in some ways. Although I like the idea, Simon, and I like what you're saying, I think there's a better way to do a similar type of thing. Why I use price action That's the way that I trade, which is why I use price action. You see, I'm looking at price action to give me an idea of where the big players in the market are moving the market, where they're placing their orders. That's why I also look at round numbers, like numbers, price levels ending in 00 or 50, because they're strong psychological levels. The price is likely to move up close to a 00 and then it's probably going to bounce back down again, or if it's heading back down to that level, it's going to bounce and then pull back again. A lot of orders are placed out, a lot of stop orders, a lot of stop losses, a lot of profit targets, et cetera, round numbers. So combining price action and candle formations with round numbers and support and resistance, et cetera, is the main part of how I trade. But coming back to the sentiment question, if we were to say trade against the traders, the vast majority, that's kind of like I'm use as a reversal pattern. Just last week, on last week's video and podcast, I said, "Should you trade reversals or only continuations?" Reversals are going against the trend in some ways, but I only take a reversal signal once I have confirmation from the price action that the price is turning down. I'm not seeing the price going up and up and up and just simply taking sell crates just because I want to. I'm waiting for that price to go up and up and I'm looking for it to start to tip over, some indecision, some confirmation it's about to go the other way. So Simon, to answer your question with the sentiment and trading against traders, yes, you can do that.

Podcast: Why you should trade different time frame charts In this weekly video: 00:23 – It’s important to trade a variety of charts 01:00 - Different pairs have different characteristics 01:23 – Standard MT4 chart time frames 02:17 – H12 charts showed great trade setups 02:54 – No more time is needed to trade the offline charts 03:47 – Do not rely on one time frame 04:36 – High reward:risk trades I'm going to explain why I like to trade a variety of different timeframe charts as Forex trader. Let's get into that and more, right now. Hi traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Video and podcast number 301. I'm going to explain to you the importance of why I believe it's very important that you trade a variety of different timeframe charts as a Forex trader. It’s important to trade a variety of charts You see, different Forex pairs, different currencies have different personalities, and they all move in different kinds of ways. Some are very fast moving, some are very slow moving. A little bit like people in some ways. The danger is, if you rely just on either one currency pair or, more importantly, just one timeframe chart, then you could be limiting the available trades that you see. Different pairs have different characteristics Different pairs have different months of the year or different days of the week or even different hours within a day that are better or worse for the different currency pair. The problem is, is let's say you just traded the four hour charts let's say. The problem is, is what happens if the four hour charts that particular day or that week are either very volatile, and they're moving way too fast, or they're very quiet, and they're just dead? Standard MT4 chart time frames The problem is then is you're missing out on so many potential opportunities on other timeframe charts because you might find that the four hour charts that week that you trade them, they just don't show very many possibilities. With a standard MT4 account, the main timeframes that I trade myself are the four hours, the daily, the weekly, and the monthly. That's good, but what I've done is I've developed some software, which I give to my clients as part of my coaching course, that allows us to trade other timeframes charts on the MT4 platform. We trade especially the six hour, the eight hour and the 12 hour charts. Depending on the week, for instance last week, the 12 hour chart showed some fantastic trade setups. H12 charts showed great trade setups This week, the four hour charts have been showing some really good setups, and it's all depending on the nature of the market at the time. The problem is, is that you don't know in advance what next week's going to show us. What's going to be the best timeframe to trade? You don't know. When people come to me, and they say, "Andrew, what's the best timeframe chart I should trade?" I say, "Well, it depends." So, there is no one answer that's correct. It depends on the market at that time. That's why I like to look at a different variety of timeframe charts. But the beauty of it is, is it doesn't mean to say that you're spending a great deal of extra time trading. No more time is needed to trade the offline charts You see, when the daily charts change over at 5:00 PM New York time, at that same time, I can look at the 12 hour, the eight hour, the six hour and the four hour charts. I'm looking at the daily charts anyway at that time, so for an extra, maybe 10 minutes, I can scan through those other timeframe charts and look for different trading opportunities. That's the beauty of it. As mentioned, this particular week right now, four hour charts on our forum site have gone absolutely crazy. There's all sorts of different four hour charts setting up. Last week it was 12 hour charts that were showing the best trade setups on that week. Why? Well, it's just the different nature of the market as opp...

Podcast: The most important things you need to do in order to be a good Forex trader In this weekly video: 00:25 – An overview of being a good trader 01:11 - The right attitude and mindset 02:15 – Work out what works for you 03:03 – Patience is key to success 03:45 – Understanding position sizing and reward:risk 04:38 – Be slow, steady and consistent 05:30 – Don’t listen to most of the information online 06:14 – Keep things basic 07:40 -  Contact me if you’d like to take your trading further I'm going to discuss the most important aspects that makes a successful Forex trader. Really important information, listen up, here we go. Hey traders, Andrew Mitchem here. The owner of the Forex Trading Coach with video and podcast number 300. An overview of being a good trader I thought for the 300th episode, we'd take basically an overview of the most important things that in my opinion you need to have developed in order to become a good trader, to become a successful trader. In no particular order, but really when you think about it, if you're going to be a Forex trader, you've got to enjoy it. There's no point in doing something if you don't enjoy it. Don't just think oh, I've seen this thing online and it's easy money. I can make passive income, I can give up my job because I hate my job. Whatever it is, a lot of people have some very weird and quirky reasons for getting into trading, but the most important thing I think at the very beginning is you have to enjoy it. You've got to have a bit of a passion to want to do it, to get a bit of a buzz out of doing it. Those types of things, so that's really important up front. The right attitude and mindset Then you've got to have the right mindset and the right attitude towards it. Now a lot of people come into trading and they blame people, they blame the market, they blame the broker, they blame their coach, they blame everybody but themselves. You can't do that. You can't sort of start throwing hands up in the air and throwing your toys out of the cot if after the first month of trading it's not working for you because the reality is if you have that kind of mental approach, that thought process, then the likelihood is it's not going to work for you, doesn't matter how long you do it. You've got to have that sort of understanding that you're in this as an investment, you're going to get yourself educated, you're going to take your time, do it slowly, and if you do it that way, then things ... You've got a far better chance of making it work for you. That whole mental aspect and approach is really, really important. You can't be like too fiery and just throw everything, blame everybody if things don't go right. It's your problem. Harsh but true. Next thing is you've got to work at what works for you. Now it might seem a bit obvious to say that but it's got to be ... Work out what works for you You have to develop a way of trading that actually suits you, suits your personality, suits other commitments that you have, suits how much or how little you want to trade. Those types of things. Do you want to be a scalper? Well, no harm in being a scalper. I don't personally do it because it doesn't suit me but you can still trade my strategy on five minute charts if you really wanted to, but you've got to work at what works for you in terms of the type of trader that you are. You've got to understand that if you're looking for certain patents, you've got to be consistent with them. If you're looking for strength and weakness, you've got to be consistent with that trading approach. It's really important to get all of that together. Patience is a big one. We've talked about that recently on these videos and podcasts. Patience is a massive, massive key to being successful. I'll give you a great example. Patience is key to success Patience is key to success A client of mine posted on our forum site just this morning an amazing trade on the 12 hou...

Podcast: Should you trade the news? In this weekly video: 00:29 – News trading – does it work? 00:58 -  Or are you a technical Forex trader? 01:38 – Trading the US jobs news 02:20 – Australian employment data 04:18 – The choice is yours 05:19 – Send me your trading questions to [email protected] As a trader should you trade the news announcements or not? Let's talk about that and more right now. Hey traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast number 299. So today I want to talk about news and trading around the news. Should you do it? Should you look at trading those high impact news announcements that come out every day of the trading week or not? News trading – does it work? Really, it depends on you as a trader as a person whether you want to or not. So really, if you're not sure a news trader or a fundamental trader is someone who trades news announcements. It basically becomes an opinion on whether you think that news is good or bad for a currency. You get the high impact news announcements like interest rates, employment, those type of things. Or you are a technical trader, like I am. Or are you a technical Forex trader? The technical trader looks at charts and looks at patterns and price action and price levels and technical indicators and you make your trading decisions from there. Of course, some people can use both. Although I'm a technical trader, of course I am aware of the news announcements and what's coming up and which currency they are likely to affect. I go and check what those results are. But the fundamentals do not affect my trading; I'm purely a technical trader. Because for me the charts tell me everything I need to know. Now, as a fundamental trader years ago ... 10, 12, 14 years ago, I used to trade nonfarm payrolls and nonfarm employment change. Trading the US jobs news First Friday of each month, US employment data. You speak absolutely easy, used to make a fortune from it, because you'd put a straddle on, a buy and sell stop, and the market would just break out massively one way or the other. I used to make a lot of money. But of course today, brokers have wised up on things like that. It's very hard to take straddle trades. The price can sometimes freeze on your charts around the high impact news times. The spreads can massively widen. All those kind of things. So that was a long time ago when that was easy to trade. Today it's very, very different. Australian employment data To give you an example, just yesterday on Thursday there was the Australian employment data came out. Now, a lot of jobs got created, far more than expected. The unemployment went down. So very, very good news for the Australian economy. However, on Wednesday on my membership site, and actually on the free information I post on various websites, I suggested buying the Australian Dollar against the US and against the Yen. But for my clients as a specific trade we had buy the Australian Dollar/US Dollar at these levels and the market order stop loss here and profit timing there and the reasons why. It's all taught in the course. Real simple. But we had an Australian Dollar/US Dollar buy trade on the daily chart based off the close of Tuesday's candle for Wednesday trading session. Yesterday, that trade hit the full profit target for a 3.2:1 reward to risk. So if you take a 1% risk on that trade, it made you 3.2% account gain. I took a 0.5% risk so it made a 1.6% account gain from that one trade, which took me about 30 seconds to see and about another 30 seconds to place on my platform. A 1.6% account gain. Simple. Yes, it took just over a day to get there. But the thing that I'm wanting to let you know is that we were seeing the strength in the Australian Dollar over a day before the announcement came out. The announcement came out and the Australian Dollar went up against the US. But we were in the trade long before that.

Podcast: Why you need patience to trade Forex In this weekly video: 00:26 – The key to being a successful trader 01:03 -  The reality of trading 01:38 – Less is more 02:14 – Live webinar with clients 02:43 – Real trading example on the EUR/USD 03:44 – More trades selling the EUR/USD I'm going to explain why you need to have patience in order to be a successful Forex trader. Let's talk about that a little more right now. Hey traders, Andrew Mitchem here, the Forex trading coach with video and podcast number 298. The key to being a successful trader Now the key to being a successful Forex trader is having patience. Now many people get into trading thinking it's going to be fast, action paced, moving markets all the time, lots of screens with news channels and things coming through and high action pace, traders sat there, can't miss a single bit of news, they can't miss a single pip of movement. They're there taking trades within milliseconds, getting in and out of the market all the time, real fast action paced stuff. Now that's the perception and the reality is or the reality should be if you are going to become a good trader and to last as a Forex trader. The reality of trading The important thing is that you need to do the exact opposite. The reality for me, it couldn't be farther from the truth. I don't have any news channels going, I don't look at any news feeds. I'm looking at the close of a candle and I'm displaying patience. You don't need to be sitting at your charts all day long, all day and night, in order to become a good trader. Less is more Think of the phrase 'less is more'. It applies to trading absolutely perfectly. Why would you want to make, let's say 2% on your account in a week and you've taken 50 trades as opposed to maybe making 2% on your account in the week and you've maybe taken 5 trades? Which is going to be more enjoyable? Which is actually making you money? Which is more long term beneficial? Which is actually putting money into your account rather than your broker's account? Patience is the absolute key. Live webinar with clients Now just last night I held a live webinar with my clients and a very successful client typed in on the chat that we had saying, "Hey Andrew, I'm taking trades only on the currency pairs that have a certain direction showing on the monthly chart and that same direction showing on the weekly chart, and then I'm taking trades only on that pair in that direction for that week's worth of trading." I'll give you a great example, so today's Friday the 9th of November and we're just about getting close to the Thursday's daily handle closing at 5:00 PM New York time. Real trading example on the EUR/USD Now I'm just about to take a sell trade in and suggest to my clients we look at a sell trade on the daily chart on the Euro/US dollar. Now at the beginning of the month, beginning of November, I took a specific monthly chart Euro/US dollar sell trade. On the weekly chart, I'm also looking for sell trades, and then today, being the last day of the week, so for the first four days of this week, there have been no suitable set ups on the Euro/US dollar on the daily charts, but today I'm going to take one very shortly. We have a specific way of entering and exiting, etc., but I'm takin a sell trade on the daily chart that happens to be in the monthly and the weekly direction. When the daily is lining up and I've had a pull back and I've had some indecision, now I'm getting a confirmation candle, I'm going to be taking a sell trade. More trades selling the EUR/USD Now just on that webinar yesterday that I talked about, I also took a sell trade on the one hour chart also on the Euro/US dollar because I've got the monthly, I've got the weekly, I had the daily, and then on the one hour chart, I had a perfect sell trade and it made full profit. The patience is the key. Don't go forcing trades.

Podcast: Confusion over which time frame you should trade? In this weekly video: 00:27 – Which time frame chart should I look at? 01:11 -  A few options for you 02:02 – Only trade on the close of the candle 02:58 – Dedicate 1 hour a day to trade the shorter time frame charts 03:31 – I trade for 1 hour a day 04:44 – Different charts showing different things 06:10 – Complete confusion Do you get confused trying to understand which timeframe Forex chart you should be looking at and you should be trading. If that's you, listen up, I've got some really important information. Hey Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 297. Now a lot of people come to me and they say, "Hey, Andrew, I'm confused with which time frame chart I should be looking at. Which time frame chart should I look at? Which is the best time frame? Should I be looking at 15 minute charts, should I be looking at hourly charts? You also talk about trading daily charts, Andrew, so which is the best?" Now the answer is there is no one right or wrong time frame chart to trade. And it really depends on a number of things but also it depends largely from your point of view, the things you can control is what type of trader are you? And how long, how much time per day or per week do you really want to start or sit looking at charts on your screen? So you've got a few options. You could be the sort of trader that likes to sit and watch charts and you might like that price action, seeing price moving around quite a lot. Which time frame chart should I look at? If that's you, then you should definitely be trading for shorter time frame charts, probably one hour charts and below, so 30 minute, 15, 5 minute, that type of thing. However, if you are the sort of trader who likes to trade less and you've got other things to do, you've got jobs, you've got family, you've got other activities that you like to do, and you just want to say, I want to trade for a few minutes once a day or like that, then you should definitely be looking at the longer time frame charts. Now things like four hour charts possibly might be the shortest that you go to and you might like the longer time frames charts like the daily charts, weekly charts and even the monthly charts. And the great thing is with the way that I trade is, I only look at taking a new trade or potential new trade at the close of any candle. Only trade on the close of the candle So we are now into November, now we've just taken six trades based on the close of the October charts. Because they are monthly chart trades, they have some very big rewards to risk ratios, up around four to one. Now I've just placed those trades this week. I put six of them on and they've got half of one percent risk each. Now if they, if three of them make a profit and three lose, I'm potentially going to make some very nice profits but it took me just ten minutes to scan through the monthly charts at the close of October and into the first day of November and see the trades that were setting up and taking the trades. So it all depends when you like to trade, how often you like to trade, that type of thing. The other thing you can do is you like the shorter timeframe charts. There's nothing wrong with those time frame charts. Dedicate 1 hour a day to trade the shorter time frame charts What you could do is say, I'm just going to pick one hour a day that I focus on trading, say five or fifteen minute time frame charts, just because you like the shorter time frame charts mean to say you are completely glued to your screen, however the danger is a lot of people either become too reactive with their emotions as in like they force themselves to see a trade because they're trading five minute charts, let's say or they just sit at the computer for hour upon hour upon hour. That for me personally, I trade no more than one hour a day.

Podcast: Having no strategy is a recipe for disaster In this weekly video: 00:25 – Why people trading without a strategy is a disaster ready to happen 01:30 -  When you learn how to drive a car you get tuition 02:25 – You’ll end up crashing 03:00 – Understand the market first I'm going to explain why trading the Forex market without a proven strategy really is a recipe for disaster, so let's get into that right now. Hey, traders. Andrew Mitchem here from The Forex Trading Coach. We're video and podcast number 296. Going to explain to you why so many people get into trading without a proven strategy, and why that almost always is a recipe for disaster. Why people trading without a strategy is a disaster ready to happen Why talking about this subject? Well, it comes about because the last week, I've held two live, free to the public webinars with my colleague Paul Tillman, who's based over in the US. On those webinars, we asked people to explain to us what is the biggest issues that's holding you back as a Forex trader? What's your number one problem? While people had things like money management, a lack of time, and the psychology behind trading, not having confidence in their system, the whole lot really came back to the biggest problem was people don't have a strategy. They don't know what they're doing. They lack knowledge, and therefore when you think about it, no wonder the stats say somewhere between 90-95% of all Forex traders lose money. It's quite scary, really, because people enter into this without really knowing what they're doing. It's not good. When you learn how to drive a car you get tuition Let's try and change that. Think of it this way: if you went to drive a car, you'd want to know what you're doing. You'd want to know some rules, you'd have some knowledge about the vehicle, some rules about the road, how the vehicle worked, what you need to do, how you start it, how you drive it, how you accelerate, slow down, corner, reverse, all those type of obvious things as car drivers and vehicle drivers, we fully understand. Think about to when you started to learn how to drive, how scary that was. But of course, probably what you did is you got some help, you got some tuition. Whether it was a professional driving company or friends or family, someone taught you how to drive. What to do, how to get into gear, how to accelerate, how to put fuel in the vehicle. All those type of things that you just normally take for granted. You’ll end up crashing Trading's exactly the same. When you don't know how to drive, you'll end up crashing. When you don't know how to trade, you'll end up crashing. They both hurt. One hurts physically because you're getting smashed up. The other hurts financially and emotionally because you're getting smashed up. It's exactly the same, so just think about it in that way. Go back to thinking when you first started driving. If you've got kids and they're old enough, think about how they're driving and how scary it is sat next to them, because really, they don't know what they're doing. But you're trying to help them along, and trading is exactly the same thing. Understand the market first What I really, strongly urge you to do is when you want to get into trading, make sure you understand the market first. Make sure you understand the strategy, make sure you understand what works for you. Don't just jump in and throw thousands of dollars into a trading account and then blame everybody, blame the market, blame the broker, blame everybody else apart from yourself. Because the problem is unless you've sought help and support from a proven strategy, a proven mentor, a proven system, then the disasters are likely to happen. Think about it this way: when it comes back to cars again, if you know how to trade, you can then drive any car you like, because you've made enough money from your trading to be able to do that,

Podcast: Can you really make money with a small Forex account? (PART 2) In this weekly video: 00:35 – Your account size does not matter 01:22 -  Do not count success in pips 02:52 – High Reward:Risk trades 03:46 – Yes, you can trade a higher time frame chart 05:07 – What type of trader are you? 06:05 – You can make money with a small FX account 07:15 – Listen to my interview with Imre Can you really make money with a small Forex trading account? This is part two of that subject. Let's get into it right now. Hey, traders, Andrew Mitchem here with video and podcast number 295, and this is following on from last week's video and podcast, which was about can you really make money with a small Forex account. That was part one. Today, this is part two. So, following on from last week's video, the main thing from that that you would have gained from that information is it doesn't matter really what the size of your account is. Your account size does not matter You have to learn how to be profitable. And that really doesn't matter whether your account is $100 or it's a million dollars. If you can't be profitable, and you don't have a strategy, you don't have a system, you're not consistent, you're not disciplined, it really doesn't matter what the size of your account. And on last week's video and podcast, I gave some examples about how you can grow the size of your account from other sources of income, from selling signals, from trading from friends and family possibly, but there are other ways you can increase the size of your trading account right now, and of course, the best way is to make gains on your account. But if you're not profitable, the rest of it doesn't matter. Do not count success in pips So what can you do to be profitable? Well, one of the things that I find that so many people still fail to understand is they count their success or their failure in the number of pips they make. Now, just yesterday I held a one-and-a-half hour live webinar, free to the public webinar. Never once did I mention how many pips I've made or have lost. Doesn't matter, completely irrelevant. The only time I use pips is when I'm looking at taking a new trade and I'm calculating my position size needed, and that's according to the stop loss and pips that I'm taking on a trade, and that's according to the risk I want to take, and it's according to the currency pound trading. So, yes I use pips in terms of I'm risking X number of pips on a trade, but don't forget a stop loss should never have a fixed number of pips. Just because I'm trading the British pound U.S. dollar on a one-hour chart doesn't mean to say I only use 20 pips as a stop, let's say. It doesn't matter. The stop loss needs to be in the place it needs to be for the protection of that individual trade, regardless of its currency pair, regardless of the time frame that you're trading because the market moves in different, in different amounts. So what might be good last week on a trade on a one-hour chart may be very different from the market conditions right today. So yes, I need to know how many pips my stop loss is, but it doesn't mean to say, let's say it was 20 pips. Doesn't mean to say, and the trade goes wrong it doesn't mean to say, "Oh, I've just lost 20 pips." Doesn't matter. I'm losing X percent of my account. High Reward:Risk trades But also you can use that to your advantage because of course we want high reward-to-risk trades. So let's say that your profit target just happened to be 60 pips, for easier calculation, 20 pip stop loss, 60 pip profit target. That gives you a three-to-one reward-to-risk trade. If it hits the profit, I don't make 60 pips. It doesn't matter to me that I've made 60 pips. What it does matter to me is that I made a three-to-one reward-to-risk trade. For these numbers, let's say I risked one percent on that trade. The trade goes wrong, I lose one percent.

Podcast: Can you really make money with a small Forex account? (PART 1) In this weekly video: 00:23 – Trading with a small Forex account 01:06 -  Can I make money successfully? 01:30 – Why do so many people lose money? 02:30 – Keeping it simple is usually the best way to trade 03:18 – Learn how to trade first 04:35 – The size of your trading account right now is irrelevant 05:10 – Invest in yourself 05:32 – Excellent trades taken live for good account gain 07:34 – Next week’s video and how you can profit from the Forex market Can you really make money with a small Forex account? Let's talk about that and more, right now. Hi, traders. Andrew Mitchem here, the owner of The Forex Trading Coach, with video and podcast number 294. I want to talk all about trading on a small Forex account, and can you make it as a small-time Forex trader? Trading with a small Forex account Now, I made a video along a similar subject line around two years ago, and it's had an enormous amount of hits on YouTube. It's had about 108,000 views, and lots and lots of comments, so I thought what I'd do is I'd split that subject up into more detail and cover it over this video and podcast, and also next week's video and podcast. Why? Well, it's obviously a very important subject, with so many people wanting to find out more about it, but it's also quite a large subject, so probably more than just one episode. So let's start at the very beginning. With a small account, people want to know, can I make money successfully? Now, the answer is yes. The problem is, most people don't know how to do that. Can I make money successfully? And I say the answer is yes, and I'm saying that with confidence due to my experience. I've been trading Forex for 15 years full-time, been teaching for almost 10 years. But the problem is, is as you know, and as I've repeated many times, the stats out there tell you somewhere between 90-95% of all Forex traders lose money, and that's probably absolutely true. Why do so many people lose money? Now, there's a huge number of reasons for that and we'll cover the reasons now, and then on the next episode we'll cover how you can overcome those. But some of the reasons, and in no particular order, would be, really, a lack of strategy, a lack of understanding of the market, a lack of understanding of good money management, a lack of discipline as a person, a lack of understanding of what type of trader you are or wish to be. Are you a technical trader, or a fundamental trader, or a bit of both? What timeframe charts do you like? Where are you going to put your stop loss? Where's your profit target? What type of trades are you taking? Are you going to take reversal trades, continuation? Are you using indicators? Are you using no indicators? Are you using just price action? Are you going to trade just before the news? Just after the news? What is it that you're going to do? The problem is, is that unfortunately, most people don't know their own answers to that. I can tell you, in all honesty, with many years of practical experience, keeping it simple, like the KISS approach, is generally the best one. So you don't need to have lots and lots of strategies. Keeping it simple is usually the best way to trade You don't need to have lots and lots of indicators and lines all over your charts. Now, some people say to me, "Hey, Andrew, why are you saying that when your charts behind here look really complicated?" Well, the fact is that they're not. I have some clever software that alerts me, alerts my eye to certain candle shapes that I'm looking at, and then I mostly use horizontal support resistance lines, pivot points, and then I've got a couple of other indicators that come lower down in my priority, to add some confirmation. So you don't need to clutter your charts, and that's what works for me and works for my clients. So coming back to the reality of it, can you make money? Well,

Podcast: Would you like to turn your trading around? In this weekly video: 00:24 – How can we help you with your trading 01:15 – 2 live webinars for you to attend and learn from 02:16 – A discounted joining link after the webinar 02:34 – 2 lucky attendees will be win a free place on our course 03:33 – Valuable trading information for you – register using the link on this page Why is your training not going so well, and how can I help turn that around for you? Let's talk about that and more right now. Hey, traders. Andrew Mitchem here, the owner of The Forex Trading Coach video and podcast number 293. Now, I want to talk all about why your trading is not going well. How can we help you with that? Also, at the end of this video and podcast. How can we help you with your trading I'm going to give you two very exciting bonuses, but more about that shortly. With trading, you're all here to make money, yep? That's why we're trading. We're trying to be profitable as Forex traders. Now, you know the stats. You see them all over the place. Some 90% to 95% of all Forex traders supposedly don't make money, and you've got to ask yourself, "Why is that?" What is it that you're doing differently, or more importantly, the 10%, 5% to 10% who are making money, what are we doing differently? And, how can you gain some of that knowledge so that you can join the 5% to 10% who are making money? So to help you with that, I'm going to be holding two webinars, two live webinars, with Paul Tillman, who works with me. He's over in North Carolina in America. 2 live webinars for you to attend and learn from We're going to be holding two webinar sessions together with myself and Paul on that webinar, on those webinars, and they're going to be on the 17th and the 25th of October. Now, I'm going to put a registration link to the page below this video, and on that I'm going to ask you one very simple question: What is the main thing that's preventing you from being a profitable trader? What's your biggest problem when it comes to trading? On that session, we're going to be answering those questions live to personally help you overcome those issues. So, it's really important that you try to get onto one of those sessions. At least register, so if you cannot attend live you get to watch the recording, and we'll answer those questions personally for you to help you with your trading. Now, I mentioned earlier there's two bonuses. The first bonus is for everybody who attends the webinar or watches the recording, so basically everybody who registers. A discounted joining link after the webinar  We're going to give you a time-limited offer to join us at The Forex Trading Coach for a discounted fee. That's the first thing. The second thing is, which is really exciting and I've never, ever done this in almost 10 years of coaching, is on each of those two sessions. 2 lucky attendees will be win a free place on our course I'm going to be giving one lucky person access for our full course completely free. It's going to be drawn live on the session, so if you're live on one of those two webinars, each of the webinars, so there's two free courses, one on each, completely and utterly no charge, free of charge, for you to get onto our five-star rated coaching course. We're going to be drawing that live on the session at the end of each of those two sessions. This is something, like I mentioned, it's never been done before. It's two and a half thousand U.S. dollars' worth of value, which is our normal full joining fee. Completely for free for two lucky people. Make sure you register for one of those webinars. Make sure that you send us your question, the biggest thing that's holding you back from being profitable, and make sure you get on there live. So, look, these are going to be great sessions. They're going to be just myself and Paul. We're going to have our charts on screen.

Podcast: Using Currency Strength and Weakness In this weekly video: 00:28 – How strength and weakness can help your trading 01:12 - Free daily information published daily here https://theforextradingcoach.com/weekly-video-news.html 02:15 – How to use strength and weakness to your advantage 04:47 – Coaching clients receive much more information Why does the strength of currency really matter, and how can understanding that information help you with your trading? Let's talk about that and more right now. Hi, Forex traders, it's Andrew Mitchem here, owner of the Forex Trading Coach with video and podcast number 292. How strength and weakness can help your trading Now, I wanted to talk about the importance of understanding strength and weakness within a currency pair, and how that can help you with your own trading. I get asked quite often, hey, Andrew, why do you put importance on the strength of a currency? How does it effect my trading, why does it matter, what's the relevance? And it's something, when you think about the logic of understanding strength and weakness, it's something that can dramatically help almost all Forex traders. So, regardless of your style of trading, or what your current strategy is, understanding the potential and the likely strength of a currency for that upcoming day, I believe can certainly help improve your results. Free daily information published daily here https://theforextradingcoach.com/weekly-video-news.html So, luckily for you, I publish, and I've done every day for the last seven or eight years, free information on my website where I publish at 5:00 at New York time, based off the close of the daily charts, the likely strength and weakness analysis for the upcoming 24 hours. So, it's information that you can use to help better trade for that upcoming day, that new day. Now, why does it matter? Well, one of the things you will notice out there is that a lot of people talk in hindsight. They say, you know, economists are very good at it, aren't they? They'll say, yesterday, the British pound did this, or the US dollar did this, or there was some economic event, and the result was better or worse than expected, and this is what happened. Now, a lot of that really quite honestly is useless information, because all that helps is to understand why something moved. It doesn't help us with like, taking new positions, not very much. How to use strength and weakness to your advantage However, if you can understand that, let's say, the US dollar is looking, let's say, really weak, and the Euro's looking really strong, the likelihood is that the Euro against the US dollar is heading upwards. So, if you take that out to a bigger picture, let's say if you look at the monthly charts, and you're seeing the Euro against the US dollar very strong. And even the weekly charts, you're seeing that the weekly charts are showing a lot of strength also, and so the daily charts. Now, if you're trading on any timeframe chart, let's say a four hour chart for example, and you're seeing all this strength in the Euro against the US dollar, and you're then seeing the Euro, US dollar in four hour charts starting to pullback, and then it shows you a good strong bullish price action candle. It needs other things setting up, like it needs to be balancing at a good level, it needs a few extra things, trend line breaks, et cetera, to back it up even further. But let's say you get all those things lining up together, you got almost like the perfect thing setting up there. You got the bigger picture strength, you got the daily strength, and now on the shorter timeframe chart, you're starting to see strength as well, all showing the same direction. Let's say also Swis francs and the Pound results are strong against the US, and so is the Yen, and so is the Franc, and so is the Aussie, and the Kiwi ket's say. And what that's telling you then is that the US dollar right now is really,

Podcast: What is the best way to learn how to trade? In this weekly video: 00:24 – What is the best way to learn how to trade Forex? 01:25 - I started teaching nearly 10 years ago 02:01 – 132 reviews on the Forex Peace Army website 02:19 – Different ways of learning 03:41 – Paul Tillman is now teaching traders with TFTC 04:39 – One on one online learning 05:25 – 3 different ways to learn 06:00 – Links to the course options What is the best way for you to learn how to trade in the Forex successfully? Let's talk about that more right now. Hi Traders Andrew Mitchem here the Forex Trading Coach with video and podcast number 291. What is the best way to learn how to trade Forex? And it's a question I get asked quite often but what is the best way to learn how to trade the Forex market? And the problem is there is no one right answer. Because it depends and it depends on quite a few things. It depends on you, how you best learn. Now I personally learned about 15 years ago through what I call the school of hard knocks. And it was basically through a lot of trial and error. And I did one small course in Oakland here in New Zealand, it wasn't particularly good, when I look back on it. But it got me in to the idea of trading and I sort of developed the love and the passion and the interest of trading from there onwards. But back then you didn't really have the options of different courses and different strategies and ideas et cetera that you do today. So in many ways you are better off today, however the market is flooded with so many different suggestions and ideas. And a lot of people get obviously very confused with that and rightly so. I started teaching nearly 10 years ago so what's the answer? Well the way that I started teaching almost 10 years ago, when I developed my own strategy that worked particularly well. Was I started with some live in person and 1-on-1 training, that then developed in to some small group training. The problem is, is that then relied on me personally being there in front of people. We then developed that in to some 1-on-1 live webinar tuition. And from then, that then led to the video course and that's what people are been using for the last almost seven years now and very, very successfully. 132 reviews on the Forex Peace Army website If you have a look on the Forex Peace Army on the website we've got 132 reviews and an average of 4.7 out of 5 star rating. So you can see that the success that people are getting from the video course is immense. Different ways of learning However, it's not just the video course, because some people like a little bit more interaction, and that's the beauty of the way that we teach and the structure of our course. Is that we have live weekly webinars where we are interacting with clients. You can ask questions you can see our screen live. So you've got that interaction and that ability to ask the mentor and the trader in real time questions. Without the benefit of hindsight, what would you do right now, all those kinds of things. We've also got a forum site which is an excellent way of learning, and on top of that we have the daily trading suggestions which give people real time ... and again without the benefit of hindsight. Because we are placing those trades ourselves in real time on the daily charts. We also post weekly and monthly chat rates as well. And then when you go to the shorter time frames, they get posted on to the forum site. And so there's various different ways of learning that. Some people learn really well from the videos and the ability to go and watch and re watch. Other people love having that interaction and asking questions. Other people like seeing the daily trades and they're looking at their charts in real time trying to predict the trade setups that we are going to predict and there's various different ways there. Paul Tillman is now teaching traders with TFTC But on top of that,

Podcast: Are you about to quit Forex Trading? In this weekly video: 00:26 – Frustrated trader on live webinar 01:06 -  Less in more 01:50 – No one perfect way of trading 02:24 – Look at your charts twice a day 03:31 – Buy and Sell Limit orders 04:20 – Be part of a trading community 05:10 – 3 trades made a +1.5% account gain Are you about to give up Forex Trading that's just not working for you? If that's you, I've got some really important information for you to listen to first before making that decision. Here we go. Hey traders, Andrew Mitchem here, the Forex Trading coach of video and podcast number 290. Now, I wanna share with you a story from my live webinar with my clients just last night. Now in that webinar, I had a new client on his first live session with us as the group, and he said to me, Frustrated trader on live webinar "Hey, Andrew, I've been trading for eight years, on and off. It's just not working for me. I've joined your course as basically the last ditch effort to make trading work. What's the secret? Can you ask people on the webinar, other clients, what's the secret to making this whole thing work? Why are they successful and I'm not?" It was really interesting to watch the comments come through from a number of my clients, and a number of them have been with me for many years. Less in more There were a range of comments come through, but basically it came down to the less-is-more philosophy, the trade to longer timeframe charts, the be selective with your trading as in don't take B grade setups. Only take the top quality setups. Get to understand the patterns that you're looking for. So, we looked for, basically, two quite distinctive patterns. One's a reversal, one's a continuation. Basically, if you get most of the setup looking exactly as you want, it doesn't matter what the pay or what the timeframe, what the direction is, but if you get that, so often the trades will work out. And why? It's because of probability. No one perfect way of trading Now, there is no one perfect way of trading, and different people have different ways of trading, obviously, and that's why the strategy that I use basically combines different bits and pieces of different strategies to get one overall proven strategy that works. Along with that strategy and the patterns that you're looking for, it was about taking those longer timeframe charts. Personally, I wouldn't look at anything less than one hour timeframes. Be selective. Don't worry if you miss trades. You're gonna miss trades. You don't have to be at your computer all the time. Look at your charts twice a day A really interesting comment came out from a client that's been with me for about three years. His advice was just to look twice a day and that's it. You've gotta carry on with normal things in life, whether it be family, entertainment, recreation, job, whatever it might be. But, it has to be realistic in terms of the time that you can dedicate to your trading. He was saying, "I just look twice a day and that's it." He looks around 5:00 am New York time, and 5:00 pm New York time. Now, at 5:00 pm New York time, which is the beginning of the new trading day, at the beginning of the week you can look at the weekly charts. Beginning of each day you can look at the daily charts, and also, you can look at the 12 hour, the 8 hour, the 6 hour, the 4 hour, and the 1 hour charts. Put that all together once a day at 5:00 pm New York time. It might take you maybe 20 minutes, 15, 20 minutes to go through all those charts. Very, very easy to scan through and select which trades you'd like to take. And then, at 5:00 am New York time, which is when I hold my live webinars, you can then look at the 1, 4, 6 and 12 charts. That's it. That's all you need to do. Buy and Sell Limit orders You don't have to be there at that exact time because we use a lot of limit orders, buy and sell limit orders.

Podcast: Do The Experts Really Trade? In this weekly video: 00:29 – Experts, are they real traders? 01:18 – Received an email from an expert who has never traded 02:23 – We read the comments and view the sites from the experts. 03:08 – Don’t you want to follow a real trader? 03:48 – We trade live daily Do the experts really trade? Let's talk about that and more, right now. Hey, traders, it's Andrew Mitchem here, The Forex Trading Coach, with the video and podcast number 289. Experts, are they real traders? Now, I've got a bit of a controversial subject. Now, I want to talk about this, and I want to talk about the subject of do the experts really trade? I'm not knocking anybody on this. I'm not criticising anybody, I'm just stating a fact and an opinion, so please don't think that I'm criticising anybody on this. It's just something that I've observed and I want to share it with you, and it's all about the experts out there. Now, how many people out there who are on TV shows, news channels, write in papers, write online, bankers, brokers, how many of those people who are considered to be experts in the financial and the Forex market, how many of them actually really, honestly trade live and make money from their trading? Received an email from an expert who has never traded The reason I want to talk about that is that I've received an email, just this morning. Now, I'm obviously, for privacy reasons, not going to disclose names or companies involved, but this person's looking for help with their trading. Now, the great thing is, they've asked for help, and that's fantastic, and I applaud this guy for coming to me and asking for help. That is really, really good. The interesting thing ... and again, before I say this, it's not a criticism, I'm not knocking anybody. The interesting thing is, this guy says on here that, "The truth is, I have never actually traded. I was a broker in London, a corporate dealer at a bank in London," and tells me how he was working there. But he said, "I've never actually traded and I'm trying to find out how to trade," and he said, "I'm trying to cut through all the bullshit that's out there online and you seem the real deal." So again, that's very commendable that he's admitting that he's never traded, but my point being is that. We read the comments and view the sites from the experts. We all see online people out there writing articles. Now, this guy also is an analyst and an editor for a very, very famous and well-respected and excellent Forex website. It got me thinking with, you know, when we see people on the news, on the CNBCs and the Reuters et cetera, the Bloombergs, when we read articles online, when we see articles in newspapers by these experts, how many of them actually really do trade? They write some amazing bits of script, and fundamental analysis, and some technical analysis. Don’t you want to follow a real trader? They write some great stuff but the difference is, is that you want to learn how to trade for yourself, so if you want to learn to trade for yourself, why don't you find someone to help you, who actually trades for themselves? That's where we pride ourselves. We trade daily, we publish daily trades for clients, specific trades, we take trades live on our live webinars on live accounts, we publish and post trades live in real-time on our forum site. There's a huge amount out there that looks great in theory but is very, very difficult to either trade of to make money from in real-time. That's where I think that we're very, very different to a lot of people. We trade live daily I'm recording this from my home office. We are real people, real traders, doing the trading, doing what you want to do, so if it's something that you're interested in, to learn how to trade for yourself, doesn't it make sense to ask someone who's already doing that? So I hope that helps. This is Andrew Mitchem, The Forex Trading Coach.

Podcast: Don’t go blaming the market In this weekly video: 00:24 – A lot of disgruntled traders out there 01:35 – If you cannot make money – it’s your problem 02:14 – The 80/20 rule – which are you? 02:54 – The hard sell? 03:50 – If you do want to join us – wow! You shouldn't blame the market if you are an unsuccessful Forex trader. Let's talk about that and more right now. Hey Forex traders, Andrew Mitchem, here. The Forex Trading Coach video and podcast number 288. A lot of disgruntled traders out there Now, I don't know what's happening out there, maybe it's because we're around two-thirds of the way through the year, but there seems to be a lot of disgruntled people out there in the Forex market. And this past week I've just had no end of emails from non-clients. All asking about the Forex market, how can you make money, or it's impossible to make money or accusing me of selling unrealistic dreams about being a full-time trader. Or just saying that the Forex market's rigged or the brokers are against you. All these kind of things. They're not making money so it's either their ... it seems to be my fault this week. But I'm really not sure what's wrong with some of these thoughts, because it's a real negative and backwards and losing kind of mentality if you're out there. And you're trying to find someone else to blame for your inability to make money as a trader. But unfortunately, I don't know whether it's a social media thing, but people seem to be really, really good at trying to blame everybody else for their own problems. This is no different actually and I think that we need to be brutally honest about this. If you cannot make money – it’s your problem If you can't make money as a trader that's your problem. You can't blame the market, you can't blame me, you can't blame someone else. It's your problem.  So what are you going to do about it? And that's really what it comes down to, because I kind of, I get these emails quite often, but like I said, right now this time of year, maybe it's the end of August and people realizing that we're only a few months to the end of another year and yet again they've been disappointed with the results. Possibly that's what it is. I'm not sure. Luckily my own clients are far from that, but it's only non-clients that are writing to me with this. The 80/20 rule – which are you? So think about the 80/20 rule, you probably heard about it, it's all over the place. Probably around 80% of the profits are made by 20% of the traders or 80% of the people who don't do anything about not being successful and 20% are the people who go and take action. And rather whingeing they actually do something about it. You got to really sort of think about that and say, "Which side of that do I want to be on?" Am I the person that's going to sit there on Facebook and Twitter and stuff or moan to someone like myself that the markets rigged and they're not making money. Or are you going to be one of the 20% that actually do something about it? The hard sell? That's what it comes down to. You see I've been accused by another person this week of putting out the hard sell of this selling my course and things like that. Well, if you want to just think like that and if you want to criticize then go for it, it doesn't bother me. I put a lot of effort into helping people with sort of free webinars, with calculators, with eBooks, etc. A lot of information out there with these weekly videos to try to help people for absolutely nothing. I don't want anything from it, from you for what I put out there at all.  I take that philosophy of, "Look, if you want to join absolutely great, if you don't absolutely great also," it doesn't bother me. We're doing really well, we've got an amazing group of traders doing very, very well, very successful. And if people don't want to join, don't join. Doesn't bother me. It really doesn't matter.

Podcast: How many indicators should you use? In this weekly video: 00:26 – Most traders use indicators incorrectly 01:51 -  Why do you use all of those indicators? 03:26 – Forex indicators and how they can help the trader 04:38 – Pivot points and Support & Resistance levels plotted automatically 05:09 – I don’t like most indicators 06:10 – Don’t clutter your charts How many indicators should you put on your charts as a Forex trader? Let's talk about that and more right now. Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast 287. Most traders use indicators incorrectly We're going to talk about indicators. Most people use indicators in the wrong way, and most people over-clutter their chance with indicators. They cause confusion and when you start you like to see lots of nice arrows and lines and things on your charts because you think that's what you need to put on your charts in order to give yourself an understanding of what's happening in the market. Now, pretty much that's not true, but, unfortunately, that's the process and the journey that most people, including myself when I started, go through as a Forex trader. You soon start to realize and discover that most indicators out there aren't actually much good. And you'd know if you'd been listening or watching me for many years, that you'd know that I generally say that I'm not a fan of most indicators out there. Lots of reasons why. The confusion side of things, they lag what's already happened. They tell you what's happened in the past. Most indicators don't really give you much of an indication of what's likely to happen. They all sort of make some form of average over what's already happened. Well, that's too late. People get confused with an indicator saying a buy on this timeframe and a sell on that timeframe. So that causes confusion. Also, when you actually look into the history of most indicators out there, most of them were written well before the mainstream Forex market was even ... so that people were using them on MT4 platforms, et cetera. So most of them were written for other markets than the Forex market. Why do you use all of those indicators? But then, last week somebody wrote a comment on I think it was YouTube, on one of my posts, and said, "Hey, Andrew. You're always telling us you don't like indicators, yet your charts here are full of indicators. What's going on?" Really easy response and reply to that. Well, I find what I use useful. It's the software that I provide to my clients with my coaching course. But think about it this way, when you're driving a car and you've been driving for any length of time, you know how fast you're going, pretty much. You can tell what speed you're going, roughly, within a few kilometers. If you've got your lights on, you know you'd need your lights on because it's dark. But there's a light inside on the dashboard telling you that you've got your lights on, or the beams on. There's a light in there telling you when your wipers are on. Well, you can see because it's raining and your wipers are moving. But there's still a light there telling you things like that. There's a line there or a needle, dial, moving up and down with the revs that you're going through. Well, if you're revving with your foot down on the pedal, you can hear that the engine's revving faster or you're going uphill. So you kind of know that. If you're in a manual car or an automatic car and you're changing gears or it does it for, you kind of know what gear you're in. You're on open road, cruising along as the 100 kilometers an hour, you know you're probably in top gear. But there's something on your car that tells you. Why does it do it? Well, it helps to give you an idea of what's happening. It takes the pressure and the workload off the driver. All things like that. Forex indicators and how they can help the trader And so, really,

Podcast: Why you need patience to trade well In this weekly video: 00:25 – Good trading is boring 00:50 - Trading examples from this week 01:57 – How do we trade these market conditions? 02:29 – Trading different time frame charts 03:19 – Live trading room webinar and examples shown to clients 04:04 – Don’t just look at one time frame chart Having patience, as a trader, is one of the keys to your success. Let's talk about that and more right now. Hi Forex traders, it's Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 286. Good trading is boring Now, a statement that I like to make quite often is that good trading is boring. Don't take that the wrong way. Trading is fantastic and it's fascinating. I love it; I've been doing it for years. But good trading is actually boring. You see, you have to have patience, and patience means that you have to be disciplined and wait for the good trade setups. Now, it's quite hard to do in real time and that's where a lot of people struggle. Trading examples from this week But I'll give you an example. In the last six days, I have taken no trades on the daily charts. There were two today, being Friday, but previously to that, for the last six days, I have posted and taken no trades at all on the daily charts. And that is one of the timeframes that I love trading. And so going forward day after day after day is ... you think, "Well, I should be taking something." And as a trader, we kind of feel that we should be taking trades because that's what we feel we're good at; that's what we feel we should do. We feel that we have to force trade sometimes, and it's a very big danger. The catch is that a lot of traders ... Go back and have a look at the daily charts over the last six days, and you'll see that almost all trades have been either big, strong movements down, such as like the euro and the pound, and the kiwi and the Aussie against the US, all been indecision bars ... have been very little to take as a new trade for either a continuation trade after a pullback or a reversal.  Been a couple today that look okay, but previous to that, not a great deal has happened. How do we trade these market conditions? What do we do about that? Well, first of all, my real job as a Forex trader is to preserve my capital, and that's the important thing. There's no good just taking trades, just for the sake of taking some trades, because ultimately what you're going to do, is probably have more losing trades than winning trades that way. And guaranteed what you are going to do is please your broker because all you're going to be doing is feeding your broker's back pocket by taking the money out of your account unnecessarily, by taking trades that you shouldn't take. Trading different time frame charts When I was on my live webinar with my clients last night, we talked about this and thought, "Well, what else do we do? What else can we practically go and do out there?" Well, last week I suggested four trades to my clients based on the weekly charts. All four of them went and hit their profit target. This week, I've taken a buy trade on the US Canadian dollar based on the weekly charts, and again suggested to my clients on Monday. And that trade right now is up about 1.6 to one. So if you'd done nothing else than risked half of one percent on that one trade, and it re-traced beautifully, got in a buy trade, and now it's moved up very, very nicely, it would have made you, right now, as I'm recording this, over 0.8% account return just from that one trade. So there are always opportunities out there. Live trading room webinar and examples shown to clients Now on the webinar last night, I also shared with my clients a number of trades that I've taken and other clients have taken and posted on our forum site and emailed through to me, based on the eight- and 12-hour charts.

Podcast: Trading by yourself can be dangerous In this weekly video: 00:39 – The downside of trading by yourself 01:55 -  What can you do to help with this problem? 02:47 – Local trading groups – should you join them? 03:58 – Consistent feedback about our trading community and support 05:08 – Our clients forum site and its value 05:56 – Great technical support and help 06:16 – Weekly live webinars to attend 07:11 – You don’t need to trade alone I'm going to talk about why trading by yourself can be quite detrimental to your own trading success. Let's get into that and more right now. Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 285. And I brought the video outside. Nice spring day here. A blossom behind as you can see. A nice feeling, now we're into August in the southern hemisphere, that spring's just around the corner and looking forward to a great spring and summer time. The downside of trading by yourself But back to the trading video. Trading by yourself can be quite dangerous, and really the effects of training by yourself can really turn a lot of people off trading. And a number of reasons why. How many people do you know who actively trade? How many people do you know who actually know what it is that you do when you're talking about trading? How many of you have got a partner or a spouse who really doesn't like you trading? I had a guy just yesterday emailed me and said, Andrew, can I pay by anything else but credit card? And I said yes, but why? And he said, look, I just don't want my wife to find out that I'm getting into trading. And I've thought about that. I thought that's actually really quite dangerous, because if you don't have the support of people around you, then it can be, not very positive, because you're doing this thing that people think is gambling or you don't know what you're doing or you're being stupid with your money, risking too much, whatever it might be. But that's the perception that people who don't have that knowledge and education about trading get into, and it's not good. And it has a massive, negative effect on your own probability of being successful yourself. What can you do to help with this problem? Look, what can you do about this? Well, the obvious one is the online thing, but forums as you know, most forums are pretty much dominated by people who don't know what they're doing. And that's the danger that I've always found with forums myself. They get dominated by those people who think that they want to write a thousand posts in a weekend, look really, really cool, but realistically they're not trading, and they don't understand trading, but they're real quick to put down other people. Generally not a good way of succeeding for you or for learning or having that positive impact on your trading. And the other thing is also found with forums is that it's so easy for people to, someone types in a new strategy and everybody jumps on that bandwagon and wants to get into that and talk about that new latest thing. And of course, that's not a great way either of trading. Local trading groups – should you join them? So the other thing you could do is look for local trading groups near where you live. I tried that years ago, probably 10 plus years ago, and it was a disaster. Nice people, but there was people who, couple who traded Forex and trading all sorts of other things. But there was just basically a group of old men together, who sat in a room and talked technical analysis about what's already happened. I found that I got no benefit from that at all. Because no one really was prepared to give away their real strategy. They all gave me little bits of it and most of it for me wasn't about the Forex market anyway. The other problem I found, which was quite funny when you think about it, which these meetings that I went to, and I only went to a few, were held in my evening time,

Podcast: Should you back test your strategy? In this weekly video: 00:22 – Should I and how do I back test? 01:00 -  Why back testing is beneficial 02:02 – Live testing can be very slow 03:08 – How do you back test a strategy? 04:02 – Other benefits of back testing 04:40 – Good back testing is very beneficial Is it beneficial to back test your forex strategy? Let's talk about that and more right now. Hi traders. Andrew Mitchem here, the Forex Trading Coach of video and podcast number 284. Should I and how do I back test? Now I get a lot of questions about back testing and people will say, "Hey Andrew, should I back test? How do I do it? What's the best way of doing it? Is it a waste of time?" All those kind of things. And I suppose it depends on who you talk to, depending on what answer you get. But my opinion is that back testing is very, very important and I strongly encourage clients to do that. A number of reasons why. But it's also important to understand that you have to do good, thorough back testing. You know, not just be a bit blasé about it. It had to be very thorough in order to get the best amount of information from that. Why back testing is beneficial And what I love about it, as someone who does a lot of manual trading, is that it encourages you to look for patterns, and it also trains your eye for looking for patterns, without that real life pressure of trading right now. The downside with forward testing as in like learning something, whether it even be on a demo, but learning it live is, it's very emotional, very psychological, sort of, not so much damaging, but you know, it can affect your trade decision by having something happening right now live in the market, but also it's very, very slow. And it's also highly dependent on what the conditions are right now. So I'm filming this. We are August, traditionally a very, very slow month. July was typically slow, like July is most years. Northern hemisphere, summer holidays, vacations, etc. And probably expecting much the same to happen in August. Live testing can be very slow So live testing now for the next month may not give me that full appreciation and that full understanding of what my strategy, if I'm learning a new strategy, could be like. However, back testing can give you some really good information. But like a lot of things, practice is okay, but bad practice is not good. Good practice is good, if you get what I mean there. Because you know you can just keep doing the same old thing, same old thing, but if you're making mistakes with that, that's not great. But really good thorough practice I believe is very, very good. Because it helps you to gain confidence within your strategy. And if you can see a strategy or a pattern, whatever it is that you're looking for, work historically well throughout month by month, year by year. That has to give you that confidence that you need to trade that strategy live in real time, when it's very, very slow. Because you know, you're going to wait day after day. How do you back test a strategy? So how do you go about doing this and what can you get from it? Well, there's a number of ways you can go about doing it. But the best thing is to either buy some back testing software, or download good historical data from your broker and go through it very thoroughly looking for the patterns that you're looking for, looking at the price levels. But be careful if your strategy uses too many indicators because a lot of indicators look different when you're looking at them in hindsight in historical information than they do live, because most indicators are moving throughout the formation of a candle. However, that doesn't affect me and my strategy because I only ever look for a trade setup upon the completion of a candle. So you need to just be aware that if you're using indicators and taking trades that are not candle based related. So that's one thing there.

Podcast: What are your plans to Forex success In this weekly video: 00:25 – Assessing your trading year so far 01:08 – Most traders don’t really know what they are doing 02:13 – Be careful relying on social media 02:40 – Seeking specialist education and coaching 03:35 – Getting the hours of practical experience under your belt 04:25 – A real strategy that works well 05:27 – What are you going to change? What are your plans for your Forex trading success? Do you have any? So let's talk about that and more right now. Hey, traders, Andrew Mitchem here, the owner of The Forex Trading Coach Video and Podcast Number 283. Assessing your trading year so far Now, last week I talked about assessing your midyear point, where we're into July. We've gone way past halfway through the year of 2018, and how are your trades going? What is your performance? Are you doing well or not well? The feedback was quite amazing. The overwhelming majority of people wrote to me and said, "Look, I'm just not making anything. It's not working. I'm struggling. How can you help?" So it got me thinking. And it's like if you're in that situation, what are you doing about that to try and change things? Because obviously, like the phrase goes, kind of, if you don't change things, the results will stay the same. It's really about what are you doing. Most traders don’t really know what they are doing The feeling that I had from a lot of the emails that came through were that people, mostly they don't know what they're doing. That seems to be the biggest common mistake. People think they want to get into trading. They suddenly want to become a full-time trader. They don't really have a proven strategy, and so they're trying to sort of make up something, conjure up something from a combination of forums and YouTube videos and all those type of things. You see, the reality is that trading by yourself, if you don't know what you're doing, can be a real lonely business. You'll sit there sort of reading these latest posts, adding this indicator, chopping and changing things, and it really does become a bit of a mess, to be honest. Most people don't understand money management properly. They don't understand reward-to-risk properly. They don't really know what timeframe or what kind of strategy they want to trade. Who do they go and seek for help and advice? So you can see it's just a big mess there, and I get the feeling that the vast majority of retail Forex traders are in that position. Be careful relying on social media Look, I put videos on YouTube, and I make them helpful videos, but unfortunately, with forums and YouTube and other social media, is that the vast majority is full of rubbish really. Think about it this way. If you wanted to become a doctor or a builder or a sports professional, are you really going to learn how to do that by watching some free videos on YouTube? Seeking specialist education and coaching It's not likely to happen, is it? So, what do those people do? Well, they seek education. They seek advice and specialist coaching and help to make themselves better. I'm learning to play squash, and I've mentioned it a few times, I fly a helicopter. When I learned the helicopter flying and now when I'm learning to play squash, yes, there's some useful information online, absolutely there is. I'm not knocking it. There is some very, very useful information, but the reality is you need to get out there and do it practically. I can't learn to become an A-grade squash player by watching it on my computer behind me. I have to be on the court learning how to do things, learning how to hold the racket, address the racket, address the ball, foot placement, all those type of things. It's the same if you want to be a doctor, builder, whatever it might be. You have to get those practical hours and experience under your belt. Getting the hours of practical experience under your belt

Podcast: How’s your trading going so far this year? In this weekly video: 00:25 – Mid way through July – how are your results? 01:09 -  Tough trading year in 2018 01:34 – Trades from my live webinars – success on the H8 charts 03:15 – Trading the same way for 12+ years so it’s well proven 04:39 – Automated trade copier service producing amazing results 05:50 – Assess your trading results – Summary How's your trading going this year? Have you assessed it yet overall? Is it going good? Is it going not so good? Let's talk about that and more right now. Hey Forex traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast number 282. Mid way through July – how are your results? So we're now midway through July. I think it's quite a good time to assess how your year is going so far. Have you had a good year so far? Have you got to about a break even stage? Are you losing? How's it going? How are you finding the conditions? It's quite a nice time of year to be reflecting on what's happened; we're sort of ... We've passed the six months, full six months through the year. If things aren't going quite so well, it's now time to do something about that before all of a sudden we find ourselves from July now through to suddenly it will be Christmas time again and another year's gone. So it's important that you do something about it right now if you're trading's not going so well. Tough trading year in 2018 Now I read a report on Forex Factory just yesterday morning and it was talking about how the 2018 year has been quite a difficult trading year for a lot of the larger financial institutions. So it's really interesting to see that those guys with a lot of their traditional ways of trading are finding things quite difficult. That was an article on Forex Factory. Trades from my live webinars – success on the H8 charts It's also interesting that every time I hold a live webinar, I'm putting the webinar together and I'm looking at trades that I've taken myself over the last week or clients have posted either on our forum site or emailed through to me and it's really interesting that when we trade a variety of different timeframe charts we find that for whatever reason, and I don't know the answer I can't explain why, but different timeframes seem to be producing better trade setups depending on the market conditions at that time. As an example: I use some software that I've had created that allows me to trade eight hour charts on the standard MT4 account, which is not a normal timeframe that you can trade on MT4. This week, we've had an enormous amount of very high quality trade setups on the eight hour charts. When I held my webinar previously, the six hour charts showed really good setups. But I went through the six hour charts before presenting the webinar with the benefit of hindsight and could only find about three really good trade setups for the week, not many. However, we did have one six hour chart trade that I took on the webinar, but there were only three previously to that. Whereas the eight hour charts I think I had around 15 trade setups. Not all of them I took myself because of the time of day and night et cetera when the eight hours change over, but I took a lot of them myself and the others other people had taken themselves and posted. So there were an enormous amount of good trade setups on the eight hour charts this week. Why the eight hour charts work? Who knows? Can't explain it. Trading the same way for 12+ years so it’s well proven But what it does mean though is that when you trade the same strategy that we trade in, we teach ... And bear in mind I've been trading this same strategy for 12 plus years, been teaching it for nine plus years now, the beauty is that it's a proven strategy across all market conditions. It just means that on certain times depending on the current conditions, different timeframes will show us higher quality and more quality set...

Podcast: The roller coaster ride when you trade Forex In this weekly video: 00:25 – The ups and downs of trading Forex 00:55 - 90-95% of traders lose money 01:25 – Why you should seek good quality education 02:30 – An interesting graph describes the traders journey 03:45 – It took me 4 years to become successful but I can short cut that time for you Want to talk about the swings and cycles involved with what happens to a new forex trader. So let's talk about that and more right now. Hi, forex traders. Andrew Mitchem here, the Forex Trading Coach with video and podcast #281. The ups and downs of trading Forex Now I've had a client of me called Sean from Australia who wrote a post on our client's forum site this week, and it's up behind me here. I'm not sure if you can see it, but it's a graph showing Sean's performance over the last 12 months and his 700 trades taken live since he joined my forex coaching course. The good news is that right now he's in some great profit. He's up almost 70%. 90-95% of traders lose money Now just taking back a step. Last week I mentioned the commonly known figure and accepted figure that somewhere between 90% to 95% of all forex traders lose money. And why is that? Well, so many people give up too early, they risk too much, they blame someone else, they blame the market, they blame the broker. You know, "It's too hard, it's not working straight away for me"—all those kind of things. And you may well have experienced those same kind of thoughts and emotions yourself. Why you should seek good quality education But the good thing is, is when you see good quality education it can definitely assist you and change your trading around. Now I am not saying that by taking my course, and despite it having a five-star rating and helping thousands of traders for more than nine-and-a-half years, it is not a get-rich-quick scheme. It is not some magic pill that Andrew's suddenly gonna give you this magic formula to suddenly change your financial world situation around. It still requires some hard work. Now why am I telling you this? Because I could go and say, "Take my course and you will suddenly become a multimillionaire." But the thing is, the reason why we're still operating so successfully after nine-plus years is we tell the truth. I'm here recording this at home in my office with my charts behind me here. We are real traders. I'm a fund manager and I have a trade copier service and I'm a forex educator and a trader. And we tell the truth. So that's what I'm gonna tell you. It is still not easy, even if you take my course. And with our help, things can certainly would done. An interesting graph describes the traders journey So the graph behind me here that Sean sent and posted on the membership site, on the forum site, it's quite interesting. I'll run you through it if you can't see it. He started off with an absolute hiss and roar. Trades were fantastic and he was making lots of money. I think he was up about 30% after the first, let's say, hundred trades. He then stalled a little bit, and then he said in his own words that he thought he knew everything. He started adding a bigger risk, bigger position sizes, taking more trades. And guess what. He then gave most of it back again. So his curve started going really well, it stalled a little bit, and then it came back, almost back to break even. It then stalled a bit longer. Why did it stall? Well, he was then going back to lower risk and working things out, seeking our help. And now over the last couple of hundred trades it's then gone way up past the original peak, and now it's up almost 70% in the first 12 months. On a live account this is. So it's pretty outstanding, but it's also a good lesson, that things are not as simple as most other people out there will tell you they are. It took me 4 years to become successful but I can short cut that time for you I'm here. I'm a realistic trader.

Podcast: Your Profit Is Not Everything In this weekly video: 00:29 – Profit is not the most important number 01:15 - Real examples – with a 421% return 02:17 – Trade Copier at +20% gain in 6 months 03:30 – A massive drawdown 04:15 – Look at the bigger picture I'm going to talk about why the profit you make as a Forex trader is not the most important number. Sounds interesting. Let's talk about that and more right now. Hey Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Video and podcast number 280. Profit is not the most important number And it's a bit of an odd discussion. Why is the profit that you make not the most important number as a trader especially when so many people don't make money or don't make a profit through Forex trading? You've all heard the stats, 90, 95% of people fail to make money. So, why is it then that I'm saying, well, those who are profitable, it's not the most important thing to know that I've made so much money per year. Because here's the problem, for the people who don't make money, it's very easy to criticise the people who do make money. It's the whole social media hide behind the screen type of thing, and it just happens all the time, and I get it consistently. Real examples – with a 421% return I'd like to share with you a few examples, two from myself and one from another company. So, with my own example. If you had started following my daily trading suggestions with a $100,000 account back in 2011, and today, that account would be, with compounding, $521,000. So, it's a $421,000 profit that you've made on your original 100,000 in seven and a bit years. Now, that works out at a 60, six, zero percent return per year on average on your original funds. Quite an outstanding figure for something that all you need to do is copy what I'm putting on the membership site each day at half a percent risk per trade. So, that becomes part of the equation, the half percent risk per trade to make 60. So, that's one example. So, I think that's a very outstanding figure considering it's just one time frame, five minutes work, once a day. Trade Copier at +20% gain in 6 months The other example is this. My trade copier which is running on the combination of trading robots that I've created myself. So, so far, in just over six months, it's up plus 20% right now. And again, it's quite an outstanding figure considering the drawdown is very low and the risk per trade is very low, but a lot of people don't see that as exciting. And I had a discussion with somebody this week, and he was saying, "Look, here's another trade copier service and it's made 200% so far this year, and we're only at the beginning of July." And I said, "Very good. That's outstanding. Why don't you go and join it?" Because he said that my 20% wasn't good enough. Now, the thing here is that the company that was selling the 200% profit in six completed months to this guy sounded outstanding, and to most people it would sound outstanding too. The problem is, is that when I actually pointed out that the drawdown had been over 81%, I don't think he quite understood the importance of that. Think about it this way. A massive drawdown You have $100,000 there. Let's say you've got that drawdown right at the very beginning when you joined. Would you really want your $100,000 to be worth $19,000? Think about it. So, yes a 200% return in six months sounded amazing, but an 80% drawdown is not realistic, in terms of, do you really want that? So, maybe the 20% return is actually not too bad after all, or the daily trades worth 60% return, considering we're controlling risk and our drawdowns are small. So, that's the message of this video on podcasts. Look at the bigger picture Just always look at the bigger picture. Don't just look at the returns and think, "Oh, this guy's made so many pips," or, "This guy's even made percentages." Yes, that's important to look at,

Podcast: Price Action is King In this weekly video: 00:24 – How price action trading can help you 01:25 -  A handful of candle patterns and shapes that work 01:55 – Assess a candle only once it has closed 03:00 – A confluence of events 04:12 – The close of a candle 05:17 – Understanding price action is so important Price action is king. It really will help you with your trading success. Let's talk about that and more right now. Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach video and podcast number 279. How price action trading can help you And I want to talk all about the power of price action trading and how it can really help you to become a profitable Forex trader. There's a number of things that you need to understand. Price action is key, and it's understanding what part of the chart we're in right now. It's understanding a few technical base things such as understanding a handful of useful candle shapes and patterns. It's also understanding what context of the chart we're in. Are we in areas buying into likely resistance? Are we in areas selling into likely support? Are we at areas we might find struggle to break through either higher or lower? What's happened prior to the price action that we're in right now? Are we in a big downtrend and maybe that formed a support level? However, we could also have a big downtrend and a pullback, and then looking for the opportunity to go short again. A handful of candle patterns and shapes that work When it comes to candle patterns and shapes, there are handful that I use and I teach in my coaching course. Now, you can go online and find all number of candle patterns and candle shapes, but I found that realistically, there's only about five that are really useful, and it's not so much about looking at like the set of overall pattern in terms of wedges and triangles. To me, it's more about the understanding the individual candle that is just closed. Assess a candle only once it has closed Because a practical way of trading is to assess what's happened once a candle has closed. Why is that practical? Well, a number of ways. If we have some previous indecision, and let's say we've had a downtrend, and then some previous indecision, and then a potential reversal candle. That's telling me that already, after a downtrend, we've seen some indecision in the market, and now we're getting confirmation that we might be seeing a pullback. It could be a complete reversal. It could just be a temporary pullback, but it's telling me by looking at just not only the candle that just closed, but also the previous one and the previous trend. It's giving me an idea of what's happened, but you can't just use that by itself. You have to use a number of other factors. You have to use the bigger picture trend. Maybe that bigger picture is we're already currently in a trend, so do I want to take that buy trade against the trend, or do I just want to accept that we made ... not be seeing a retracement, and then I'm going to wait for that selling opportunity to sell with the bigger trend? There's a number of factors that you need to add into this. A confluence of events So you need a confluence of events. You need to add more things than just purely the candle itself. What part of the chart is it in? What is the price that it's at? Has it stored and bounced at a level that may previously have bounced back in the past whether that'd be a number of hours, or days, or weeks, or months away? It's all on ... and that depends on what timeframe chart you are trading. The other benefit of looking at a candle at the close of it as candle is that you know exactly when you need to be at your charts. You see, to me, there's nothing worse than talking to traders and especially new traders who just say, "Look, Andrew. I'm trading 6, 8, 10, 12 hours a day and it’s not, well” Yes. When you're learning, it's good to get some time understanding what's happeni...

Podcast: Copy my trades In this weekly video: 00:24 – Have my trades copied to your account 01:12 -  Trading Algorithms and Trade Copier Software 01:55 – Results to date 02:26 – What’s the cost for this? 03:29 – A link to find out more details is below Would you like to have my trades copied directly onto your account? If you would, listen up, I've got some great news to share with you. Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach, video and podcast number 278. Have my trades copied to your account I wanted to give you an opportunity to have some of my trades copied automatically onto your account. You see, this is for you if you are too busy. Too busy to learn how to trade, you're frustrated with trading and it's not working for you. You don't want to learn how to trade but you may be after a higher-than-average return on investment. You may have been wanting something to complement your trading, or you might just want a passive income. Whatever it is, it maybe that you can't afford to do my course let's say, but you'd like to have some trades taken on your account that are going to make you money. So whatever one of those you fall into, whichever category, this solution is perfect for you. Trading Algorithms and Trade Copier Software You see, I've created a group of trading algorithms and I have those trade on a live account of mine. Then that live account gets replicated 100% automatically behind the scenes using some trade copier software from a company in the UK called Forex Solutions. It means that my trades get automatically placed at the same ratio onto your account automatically. It's a great system. All you need is a MetaTrader 4 account, an MT 4 account, and you can then link your account to my account through the Forex Solutions software. Now there's a few options there as well. Results to date You can have your account trade at the same percentage risk that I do, which is very, very low. If you've done that, then in the last seven months since November, you would be up 16% on your account right now as I'm recording this. You could then decide to multiply that by two or three, so you could be up say 32, or even 48% in the last seven months, just by multiplying the risk that I take. A 48% return in seven months is something very attractive, and that's still with low drawdown. What’s the cost for this? So what does this cost? Well for the whole thing, for the copier service from myself and the software, which means you need no server, you don't need to be spending $40, $50 a month for a virtual server and you don't need any trade copying software. You don't need to do any updates to the server, you don't need to do anything. It really is a 10-minute once off signup process, and then you pay a monthly subscription fee of $78, which is US dollars. Pay that as a monthly fee, automatically gets taken for as long as you want to remain as a client of the copier software. It just means that 100% automatically, the trades that my account gets places, get put onto your account behind the scenes. It's an amazing way of trading if you are too busy or you're just really wanting an investment, or like I said, you either don't want to learn how to trade or you maybe can't afford my course. You maybe wanted to jump on board with us, but this is a good low option, low-price option to allow you to jump on board with us, take some of my trades, and grow your account at the same time. A link to find out more details is below So if that's something you'd like to know more about, I'm going to put a link below this video. If you're listening to the podcast, just jump onto my website under the "Join now" button, and you'll see a link to AM Trade Copier. So I hope that helps, and as I said, that's a great way for you to grow your account 100% automatically, a once off 10-minute signup process, and that is it. It really is an exceptional way of making some great passive...

Podcast: How to survive when the market is quiet In this weekly video: 00:29 – Tight, rangebound trading conditions 01:00 - How to trade during tough conditions? 01:54 – Having a confluence of events in your favour 02:54 – Examples of what makes a good trade setup 04:53 – Giving yourself a higher probability chance of success 05:16 – Email me if you need any help As a Forex trader, it's important for you to know how to survive when the market conditions are quiet and not favourable. So let's talk about that important subject and more right now. Hi Forex traders it's Andrew Mitchem here, the Forex Trading Coach Video and Podcast Number 277. Tight, rangebound trading conditions I want to talk about the conditions right now. Go and look at your charts and you see that most of the currency pairs are in quite a tight range band market right now. There's not a lot of strength or weakness either way. I'll give you an example; have a look at the New Zealand dollar against the US dollar. It's stuck around the 70 level, the 0.7000 level against the US. It's been there for quite a while. If you look back over the last couple of trading weeks, you'll see that the pair has fluctuated around 100 pip movement; very, very hard to make money when that happens. How to trade during tough conditions? So what can you do about that and how do you trade those conditions? Because of course, I can look back now and say the last two weeks it's moved 100 pips in two weeks. But at the time you don't know that, and that's the hard thing with trading. Which is why I always say to people, a good trader has the ability to trade in realtime and from the right hand side of the chart. The internet trader, of which are there are many so-called experts out there, have the ability to show you charts and show you trades with the benefit of hindsight. So that's what makes me different in that I take trades live for my clients on a daily basis, we post them on the forum site. I have specific trades, and of course I trade live on a live webinar. On top of that, I manage funds for people as well. But let's get back to the point in hand, which is how do you trade when the conditions are quiet? Having a confluence of events in your favour For me, it's all about having a confluence of events all showing at the same time. Because trading is about probability, and it's all about adding multiple layers upon each other to give yourself an overall higher probability chance of that trade being a good one and justifying why you should actually take the trade in the first place. In general, if conditions are tough then be really, really selective about your trading and don't keep trying to want to take trades just for the sake of it. That's a really important first point. But when it comes to the charts, as a trader I give away my Engulfing Candle course for free, and it's looking for engulfing candles. But when it comes to my real trading and my coaching course, of course there's more to it than just looking for every engulfing candle. There's other candle patterns that we're looking for as well. But more importantly, it's knowing where they occur within the chart; what part of the chart are we in right now. So it's adding that confluence of events, multiple factors together. Examples of what makes a good trade setup For example, have we had a prior trend? Let's say we've had a prior downtrend and now we're looking for a bullish pattern. Fantastic, because now we're looking for a reversal or a continuation of a main trend after a pullback. What type of the part of the chart are we in? Are we near the upper Bollinger? The bottom? The middle? Are we in no man's land? What about divergence? Does that help us? Have we bounced at round numbers? Have we bounced at previous support or resistance levels? If we're taking a buy trade, are we buying directly into a level that may have recently or even some weeks ago have been a previous str...

Podcast: Don’t stress about the news In this weekly video: 00:21 – Decisions are based off the charts 01:05 - Look at the news announcements once a day 01:36 – The charts tell me all I need to know 01:52 – News is your opinion 02:48 – Should you straddle the news? 03:23 – Should I be watching the news channels on TV? 04:05 – H12 AUD/JPY Sell trade live on a webinar makes a +1.25% account gain Hey Traders, Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 276. Decisions are based off the charts Now, as you know, I'm a technical trader, I look at the charts and I make my decisions based on what I see on the charts because as a technical trader, the price action tells me everything that I need to know. I'm not a news trader, I'm not a fundamental trader, and I know that when I mention that some people get upset, and there are certain people out there, and you know who you are, that say, "Hey Andrew, you can't be a trader purely technically." But, I've been doing this for 15 years and yes I am, and so are my coaching clients. So, I'm not saying that news trading doesn't work, so don't get worried if you're a news trader. But, I'm saying they don't need to stress about news trading because to me there's a better way, and that's technical trading. Look at the news announcements once a day Now, I look at Forex factory once a day purely for my own interest and knowledge about what news announcements are coming up, and what will the announcements of some of the major impact news yesterday, just purely for my own global knowledge of what's happening. But it does not effect my trading. You see, as a technical trader I believe that I see everything I need to know on the charts. And as mentioned, I've been doing this 15 years and it's worked over that time pretty well. So, it's unlikely not to work in the future. The charts tell me all I need to know Because the charts tell me everything I need to know. They tell me where I see certain candle patterns that I'm looking for, they tell me whether we're in an overbought, oversold area. I can look at strength and weakness with other bigger timeframes, and then use that to my advantage on shorter timeframes. News is your opinion Whereas to me news is quite opinionated. You see, when a news release comes out, is that better or worse than the anticipated level? And then it's like, well, how much better or worse has it? And what some people see as good news, others would see as very average or poor news. And that becomes the problem as a technical trader looking at the other side of fundamentals. It becomes too opinionated. You may say, "Well, that employment rate was really good." I might go, "Well, it was okay, but it was nowhere near as good as expected or last months went down." Those kind of things. And then how does that affect the currency? Whereas, as a technical trader the charts tell me everything. I don't need to still be worrying about whether this is good or bad news. It doesn't matter. The fact is that the price is either moving up or down, and that's really how I benefit as a technical trader. Should you straddle the news? And you get a lot of people who may say, "Look why don't I just straddle the news." As in like take a buy stop, if the news moves the pair up and take a sell stop if the price moves down. Well that's okay, but that's basically just a technical way of trading a news item, because it's basically saying you've got no idea what's happening, it just means that if it moves up and breaks out upwards you're taking a buy trade and if it breaks that downwards you're taking the sell trade. Well that's not fundamental news trading. That's basically taking a punt each way. It's either going head up and get going or head down and keep going. And so that becomes the problem. Should I be watching the news channels on TV? You see, I had someone that contacted me,

Podcast: Your 2 options to trading success In this weekly video: 00:25 – Father Christmas does not really exist 00:55 – How much money can I make from my trading? 02.12 – You have to be real with your expectations 02:49 – My 2 options for you to success - #1 learn to trade for yourself 03:46 – Options #2 – have my robots trade your account automatically 04:58 – Be real and my conclusions 05:30 – Learning how to trade is so important As a Forex trader, you need to be realistic, and you need to understand that Father Christmas does not really exist. Let me explain exactly what I mean right now. Hey traders, its Andrew Mitchem here, owner of the Forex Trading Coach video and podcast number 275. Father Christmas does not really exist And I want to explain to you why Father Christmas, or Santa, does not really exist and how that affects you as a Forex trader. So just bear with me here, there's a bit of a story behind this. So just yesterday, I did an interview for a podcast from a forex trading website over in the U.K. Before we started the interview, the guy said to me, "Do you find that you get comments and emails from people who are completely unrealistic in their approaches to trading?" And I said, "Yeah, absolutely I do”. How much money can I make from my trading? And just this week I had a guy that said to me, 'How much money can I make from my trading, Andrew?' And I said, 'Well, it depends.' And I said to him, 'Well, how long is a piece of string?' And I said to him, 'Well really, it depends on your account size, how good a trader you are, what the risk of your trades are, what risk you take per trade. There are so many variables. I cannot say to you this is how much you are going to make per week from Forex, because it's unrealistic to put a number on it.'" And the guy who was interviewing me said, "Hey I can go one better than that. I had a person who said to me, 'I have 100 pounds in my account, can I make £20,000 per week?'" And the guy was laughing, and he said, "Well, we have to tell people out there," which is why I'm doing this right now, because the expectation is, is that you're going to make an absolute fortune out of your trading straightaway. And the guy said, "It's like telling people that ... it's that memory that you had as a child, when you found out that Father Christmas, or Santa, does not really exist." And it's such a like ... it's a soul-destroying thought, because you have these very high expectation and there's sort of these dreams, and then all of a sudden somebody tells you that it's not real. And there's that big deflation. You have to be real with your expectations So, I don't want to be the bearer of bad news, 'cause I've got some great news to share with you, but the thing is, you have to be real with your trading and your expectations. Don't go into trading if you've got like thinking you're going to suddenly give up your job and make a fortune out of your trading from the very beginning, because you won't. Look, I've got clients, and quite a good number of clients who have given up their jobs and are now trading forex full-time since taking my course. But it's taken them a bit of time and some hard work and some dedication. And yeah, they've probably got slightly bigger accounts and things like that. But it can certainly be done. My 2 options for you to success - #1 learn to trade for yourself So the good news is, I've got two options for you that will enable you to do well from forex. The first one is, of course, you could look at trading for yourself by taking my five-star rated coaching course. It's been running for over nine years now. The same strategy, you know, we just keep building in terms of the things that we're adding to the course, in terms of now we've got U.S. live webinars every second week. I've got people monitoring the forum site now, 24 hours a day. So it's not just this side of the world that's covered,

Podcast: What makes a good Forex Trader? In this weekly video: 00:29 – The good news 00:43 - Your passion to want to trade 01:10 – It’s too easy to change systems 01:48 – Good trading is boring 02:17 – Consistency is key 03:13 – Why do so many of my traders succeed? What makes a good Forex trader? Let's discuss those really important characteristics right now. Hi Forex traders, it's Andrew Mitchem here, owner of The Forex Trading Coach. Video and podcast number 274. I want to give you an insight into what makes a really good Forex trader. The good news Now the good news first is that you don't need to have to work in a bank or in the city or at a brokerage or anything like that. The other good news is you don't need to have a degree in mathematics or anything like that either. Your passion to want to trade It's more about the individual person and your passion and your drive and your enjoyment of trading that makes a big, big difference. Over the years I've seen all sorts of people come and go through trading. Some people start off really well. Sometimes they get bored and sometimes things psychologically get to them and trades then suddenly don't go quite so well and they stop or they give up. It’s too easy to change systems Unfortunately, you probably know this from your own experience, because it probably happens to every Forex trader is that it's too easy to dismiss the system and to chop and change and go on looking for that next shiny object, that next holy grail system that's going to suddenly magically solve all your world's financial problems. But, that's what you thought of the one that you've just given up on a few weeks or a few months previously. Of course, that didn't work either. So people are constantly changing and that I think is one of the big problems. Consistency is the key. You see, the fact is not many people will tell you this. Good trading is boring But the absolute fact is that good trading is actually very, very boring. It's not the sort of thing that you would expect me as a full time trader and a coach to say, but the fact is trading, good trading that is, is boring. Why do I say that? Well, it comes down to doing the same thing all of the time. Now while the market changes and moves up and down and sideways, etc. and the market is never the same. But the actual approach to your trading needs to be the same. Consistency is key You need to have consistency. So if there's one take away you were to use or to get from this video and podcast, it is consistency. And you have to have that. You have to be consistent in your approach and your mental approach and your technical approach to what you're looking at into the time that you're trading. The setup that you're trading has to be consistent in order to give that strategy the best chance of success because trading is probability. Not every trade is going to be perfect and you have to accept that also. So, consistency and boring trading approach is what makes the good trader in the long run. The person that just chops and changes from one system to another, after two or three losing trades, is not going to be the person who ever makes a good Forex trader. So consistency is absolute key. Why do so many of my traders succeed? Why do so many of my clients do so well? Well, first of all, they're getting taught a damn good strategy, one that has worked consistently over so many years, over so many market conditions. But also, our approach is consistent. Even these free videos and podcasts, they're made every single week consistently. On my membership site, consistently every single day of the trading week, the daily charts are put on the membership site at consistently the same time. We trade at the close of the New York 5 pm candle on the daily charts. So consistency is there. The strategy, the star that we teach is consistent. Every webinar is consistent.

Podcast: So you want to Scalp the Forex Market? In this weekly video: 00:24 – The high paced action of the 1 and 5 minute charts 01:20 - The reality is much different 02:18 – The spread becomes such a big part of your trade 03:30 – The Reward:Risk of Scalping is not good 02:57 – The Price can change so quickly against you 04:24 – My Suggestions to help you So you want to be a scalper in the Forex market, do you? Let's talk about that and more right now. Hey Forex traders, it's Andrew Mitchem here. The Forex Trading Coach video and podcast number 273. The high paced action of the 1 and 5 minute charts And I want to talk about the high paced action, where all the action happens in the one and five minute charts. Because that's what you need to trade if you want to be a scalper, don't you. And do you want to be a scalper? Well, that's what I get told by so many people. I had another email just this morning saying, "Hey Andrew. Please, can you teach me strategies so I can be a scalper?" I'm going to talk about the pros and cons of scalping. And by the end of this video and podcast, you can make your own decisions. But let's talk about it. What is it? It's trading five minute charts, maybe one minute charts. And it's looking for small, incremental gains all the time. Sounds real cool. Sounds amazing, because as Forex traders, we think that we need to be sat there watching the charts all the time, taking every little pip up and down. And that's unfortunately what so many new traders think. Look, I did the same, 15 years ago. All I wanted to do was to take little trades, watching every pip move up and down. The reality is much different I can promise you the reality is that, on those shorter time frame charts, the probability of you using a really high quality trade set up on that pair that you're trading at that time that you happen to be looking at your charts is quite slim. And with hindsight, with the benefit of hindsight, I can go back through on five minute charts and go, "Oh look, that was a great set up here and there's a perfect set up there." But the chances of me being at the computer at that time, is quite slim. So, the reality is that most people then start to force trades to happen. Because I'm sat there ready at my computer. So I'm ready, so where's the trade? And that's what most people think. The reality is that the market will show the right set ups when the market is ready. Not when you're sat there ready. And that's quite a hard thing to understand for many new traders. So therefore, what you start to do is you take trades that are not really that great a set up. The spread becomes such a big part of your trade Then the problem being is the spread becomes such a big part of your trade. So let's say as an example, you are wanting to take a 10 pip profit target. Now, I don't know who you pick 10 pips, but most people seem to think 10 pips is because it's an easy round number. The problem is, let's say you're trading British pounds, US dollar, and you've just paid two pips on the spread, the difference between the big and the [inaudible 00:02:32] cost of taking the trade. So now, your 10 pip profit target, is that 12 pips away? Because you've already paid two pips, so you're basically minus two. So to get to 10, you have to actually make 12. That's not quite so exciting. If you make 10 pips and you've just paid two as a spread, well haven't you just, and let's say hit the profit, haven't you just lost 20% of your total profit to the cost of the spread. The reverse of that is the stop loss. You want a 10 pip stop loss. So, does that mean that once you've taken your trade, you're now minus two, let's say effectively, that means you're only eight pips away from the stop loss. So, there becomes another problem. So it doesn't really work in your favour. The Reward:Risk of Scalping is not good And that's, when you start talking reward to risk trades,

Podcast: Accurately calculate your position size In this weekly video: 00:26 – Calculate your lot size easily 00:54 - Many traders misunderstand the importance of this 01:29 – Every trade has an equal and known risk 02:33 – How to calculate your risk – there are many factors 03:13 – Get my Calculator for free 04:45 – Changing your thought process Would you like to know how to accurately calculate the position size that you need on your trade in order to keep your risk low? Listen up, I've got some great news. Hi Forex Traders, Andrew Mitchem here, the Forex Trading Coach Video and Podcast number 272. Calculate your lot size easily I'm going to explain how you can accurately and easily calculate the lot size or the position size that you need to place on each and every one of your trades in order to help you trade better, to help you with your psychology, and to help keep your risk per trade low and equal regardless of the trade, the size of the stop loss, or the timeframe. So I'm sure you'd like to know how to do that. Many traders misunderstand the importance of this Well, before that I'm just going to read an email that came through here and it said, "I loved the video that you did on the risk calculator, but could you explain more? I think it's a massive misunderstanding amongst many traders, and the way you explain it makes so much sense to me. Can you make another video so I can get a better understanding?" That's quite interesting that the person says that most people have a massive misunderstanding, and I think it's absolutely true. That is a big, big problem amongst Forex traders. Every trade has an equal and known risk So the way that I trade is every single trade that I take has an equal and known risk. So people get too worried about what the stop loss needs to be and how many pips that is; it doesn't really matter. By getting your mentality away from thinking about making profit or loss in pips, what it does is it gets you thinking like a professional trader who thinks in terms of your risk to reward, win rates, and controlling risk per trade. Every single trade that I take has the same amount of risk; the same percentage of my account at risk regardless of what currency pair it is, what the timeframe chart is, whether it's a longer term trade, a short timeframe trade, doesn't matter. They all have equal risk. That helps me to trade with less emotions. All the trades I've got going behind me here, every single one of them, is controlled. How to calculate your risk – there are many factors So if a number of them go wrong it doesn't really matter, because I have the risk controlled and I know that on my profitable trades I have high reward to risk. So how do you do it? Well, as you would likely know, and if you don't you soon will, each currency pair pays out a different amount per pip. So the manual, old fashioned way of doing this is quite slow and it's quite difficult and it takes a fair bit of calculation. Because it also depends on what your account is denominated in. So as an example, if you have a US dollar account or a British pound account or an Aussie or a Kiwi dollar account, whatever it might be, the amount that you get paid per pip of movement up and down is different depending on your account. Get my Calculator for free So I have an amazing lot size calculator; it's freely available and I have placed ... Or will be placing, a link below this video and podcast so you can download it for free. Let me explain how it works. Rather than going through that whole complicated calculation, you don't need to do any of that. All you do is you drag the script, it is a script not an indicator, so when you download it and you start coming back to me going, "Andrew it doesn't work," it's a script. Don't put it under indicators. So you drag the script onto the chart that you're about to trade. So let's say you're about to trade the Euro/US dollar.

Podcast: Why Round Numbers Work In this weekly video: 00:33 – What is a Round Number? 01:10 – People move to the market 01:45 – The NZD/USD chart example with the price at 0.7000 03:54 – The EUR/AUD reacts at 1.6000 04:30 – Get my Round Numbers indicator – Link is on this page I'm going to talk about why round numbers work in the Forex market. They just do. Let's find out more about that right now. Hey Forex Traders, Andrew Mitchem here. The Forex Trading Coach video and podcast number 271. This is all about the importance of round numbers, how to use them, and why they work. Really, really important video so listen up. What is a Round Number? Round numbers, what are they? Well I call a round number a price level that ends in a 00 or a 50. Two very powerful levels. Think about it this way, when you go to a shop you will buy something for $19.95 or $19.90, but you won't buy at $20.00 or $20.05. You're buying a house, you're looking at a nice big house. Would you a pay $1,500,000 for it or would you pay $995,000 for it? It's all about that strong level. When the price gets to a certain level, people react. People move to the market Because after all the market is moved by people and emotion and reactions, whether it be to news events or price levels. It's people that move the market. Even with algorithms in the market, of which there's an enormous amount, they're still coded to look for certain events and certain reactions. You can look through your charts, all over charts, and see how round numbers react; or the price reacts at round numbers, I should say. It's more that way around. The price stalls or changes directions at round numbers. The NZD/USD chart example with the price at 0.7000 I'll give you an example. I had a phone call this week, on Wednesday my time, from a client who lives locally ... I'm sorry from a contact, not a client. He wanted to become a client. He lives locally. He said to me, "Hey Andrew, you're talking about Strength and Weakness and daily directions and all this sort of things. How do you pick them?" I gave him an example and because he lives in New Zealand I said, "Look, go have a look at the New Zealand dollar against the US dollar." You can do the same right now. Have a look at last week and the Kiwi dollar's been falling for quite a while against the US. By the way that fall started at a round number, it was 74, 0.7400. I said to him, "As the price is falling, everybody's going to be selling the New Zealand dollar but," I said, "be careful because strength and weakness. Yes it's falling but be careful of the next big round number of 0.7000, the $0.70 level." Go have a look at your charts. Right now the price came down to just below that level, it hit a perfect high, which by the way was from the 9th of November, just below the 70 level, so it took out a whole heap of stops, got people in on sell trades going further down, and it's reacted at around that 70 level and right now it's pulled back. Right now, as I'm recalling this being Friday here in New Zealand, it's at 70.50, so 0.7050. It's now stalled at the next round number. No surprises there for me because these numbers are so powerful. I was able to say to him, "Yes, Strength and Weakness says the Kiwi's dropping, definitely." But be careful. Look at where it is in the chart, look it's at bottom Bollinger Band area. It's at a previous support and resistance level and it's at a very, very strong psychological bounce level. Do not just sell it because you're going to sell it. Think of reasons why, look for proper reasons to sell it. Don't just go ahhh, the Kiwi's weak, I'm just going to sell. That's not going to make you money. Look at where the price is. Okay, it's at 70, oh it's bouncing. Okay, well maybe it's going to retrace back now, maybe it's completely reversing. But 70 is holding right now. The EUR/AUD reacts at 1.6000 Paul, over in America,

Podcast: Why The Longer Time Frame Charts Can Help Your Trading In this weekly video: 00:38 – Being able to trade and travel 01:05 – Interview with a Full Time Forex Trader 01:43 – Trading the Longer Time Frame Charts 02:22 – Trade in a way that allows longevity 04:18 – Do the professionals trade 5 minute charts 04:45 – Celebrating 9 years of The Forex Trading Coach helping traders 06:12 – Now it’s your turn to join us I'm going to explain to you why I love trading the longer timeframe charts and how they could help you in so many ways. Let's get into that right now. Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 270 coming to you from beautiful Queenstown in the South Island of New Zealand. School holidays here in New Zealand and we're at our holiday home here in Queenstown having a great time. Being able to trade and travel Just got me thinking about so many things to do with trading because part of trading is being able to travel. It's being able to not be glued to your computer. It's being able to do things like this, come to places like this and still continue to trade. I love trading. I don't want to stop trading. I trade every day. But while I'm here, I don't want to be glued to my charts all day. It will mad. There's just no point in being here. Interview with a Full Time Forex Trader It also got me to think about last week when I interviewed Imre Gams, who's a client of mine in Canada, who's now a full-time Forex trader, and Imre was looking at the longer timeframe charts and going down from the weekly charts and matching the strengths and weaknesses of the weekly charts with the data charts, et cetera, and basically pulling things together to give a higher probability chance of success, and that is what the longer timeframe charts give you. Before you start thinking, "Andrew, I can't trade the longer timeframe charts because my account is not big enough." That's not actually quite true, but we'll talk about that on another video. Trading the Longer Time Frame Charts The longer timeframe charts are available for anybody to trade, regardless of your level experience or your account size. In fact, the newer you are to trading, I'd actually suggest that you just look at the longer timeframe charts anyway, because everybody gets involved in wanting to look at the shorter timeframe charts, looking at every pit movement up and down, scared to miss trades, being glued to their charts. Yes, while you're learning, understanding how the charts move and how price moves is really good. It's very important, and we've all been there, been really excited to see our account move up and get disappointed when it moves down. But long term, that's not a good way of trading. Trade in a way that allows longevity Long term, it's got to be something that's practical, that it's something that's enjoyable, and when you think about it, the bigger the higher timeframe chart you trade, the more information is contained within that one candle or that one bar. Therefore, the more reliability that candle or that one bar has. That's why I like trading ... See, this week I traded the weekly charts on Monday. I've taken six trades on the weekly charts. I took two trades on Monday on the daily charts, one yesterday Tuesday, and one today Wednesday. I'm recording this bit early, because I'll be on a plane on Friday when I'm normally recording the weekly videos. So far, those daily trades have worked beautifully, and a couple of the weekly chart trades are in as well. On top of that, I look at the 12 and 6 hour charts just twice a day and that's it. You can do that from being on holiday, and that's the great thing about it. It's all about having something that's reliable. The bigger the timeframe chart, the more reliable the information and the data within that timeframe. Just think about it, logically. You can't have a five minute chart having equal streng...

Podcast: Becoming a Full Time Forex Trader In this weekly video: 00:25 – Living the dream and becoming a full time Forex trader 01:10 - Client becomes a full time Forex trader after seeking a mentor 02:10 – A lot of dedication and back testing to prove the system to himself 02:52 – Making 5% return on trading account per week 03:46 – Watch the interview with Imre 04:21 – Be realistic about your trading expectations 05:25 – The hard work pays off Would you like to quit your job to become a full time Forex trader? If the answer is yes, this video is for you. Hey, traders, Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 269. Got some really exciting news to share with you. Living the dream and becoming a full time Forex trader Would you like to live the dream? Would you like to work from home and work from anywhere, quit your job, become a full-time Forex trader? Because that's what most people who get into Forex want, don't you? That's what most people really aim for. And it can be done. Now, I know it can be done because I've had many clients do that, but just this week I've interviewed another client who has taken that step to becoming a full-time Forex trader. He's quit his job, his name is Imre Gams, he lives in Toronto in Canada, a real, nice, smart, intelligent, young man. He's worked for Google, he's worked for Apple, so he's right up there with being a very smart guy. Client becomes a full time Forex trader after seeking a mentor He took my course back in August of 2017, some eight months ago, and I interviewed him, and I asked him what the process was that he went through. He's been through Brazilian jiu-jitsu, he's been a fencer, as in the sport fencing, he's done many things in his life that he's always sought a mentor for, because he's seen it as a shortcut to success with a good mentor. So, he did some reviews, he found my course a while ago, joined last August and basically has been very thorough with everything he's done. You can hear the interview. It's on my homepage. I'll put a link below this video. It's 38 minutes long. It is highly, highly recommended if you watch the entire thing. There is so much you can learn from that video, even if you just want passive income from Forex, but just watch the entire video. Take your time, grab a coffee or a cup of tea or something and sit and watch the whole thing. A lot of dedication and back testing to prove the system to himself Imre started back in August 2017, went through the course, he's been dedicated, he's asked questions, et cetera, like a lot of people. But he's done extensive backtesting on the course, he had huge confidence after doing extensive backtesting, and then a few months ago he decided to quit his job and go live. Now, a few weeks ago he started sending me emails of some of the money withdrawals he's taken from his account, from his live trading. Very, very, very impressive figures. Not going to reveal how much. That's private information for him. But it's well into the six figures that he's withdrawn just this last quarter. Making 5% return on trading account per week And as he said to me, "I've made more in the last quarter than I made in the entire last year." And he's now, as he said, living the dream. He's working from home, he's making around 5% return on his account per week with very low-risk trading, very low drawdowns, and only about one hour of actual trading per day. He is spending more time with his continued learning, his self-development, his self-education. His whole knowledge-base is constantly growing, and he puts time and dedication into that. He's spending a lot of time each day with backtesting, looking at different ways of trading my strategy, different timeframes, et cetera, so he's constantly learning, constantly evolving, but actual trading no more than one hour per day. A 5% return per week on average.

] Podcast: Which Time Frame Charts Should You Trade? In this weekly video: 00:29 – Understanding which time frame chart to trade 01:14 - What can you do to select the right chart to trade 01:56 – Examples of how to select the best time frame 02:52 – Live webinar with my clients 03:53 – I took trades live on the webinar for excellent profit of +1.5% gain 05:15 – Don’t always trade just 1 time frame chart as you’ll limit options 06:45 – Live Webinar – Free to attend for non-clients How do you know which currency timeframe you should be trading? Let's talk about that and more right now. Hi Forex traders, it's Andrew Mitchem here, owner of the Forex Trading Coach with video and podcast number 268. I want to talk to you about a really common problem that almost all currency traders go through Understanding which time frame chart to trade It's all about understanding which timeframe chart you should be trading. You see, a lot of people get really confused by this. They think that they must be needing to trade short timeframe charts because that's where the price action is, right? That's what everybody tells you, you need to be trading five minute charts and scalping, looking for all these small movements within the overall flow of the day. A lot of people also get confused with thinking that I can't trade longer timeframe charts because the stop loss needs to be too big, and I don't have a big enough account size. So there's all these misconceptions there; both of which, by the way, are completely wrong. There are ways around all of these things. What can you do to select the right chart to trade What can you do to select which timeframe chart you need to trade? Well, a lot of it comes down to having the ability to be open and flexible and to basically see what's happening in the market right now, because no one really knows like next week what's going to happen. No one knows. You can have predictions and economists and all these type of things going on, but really nobody knows what's going to happen. All we can do is see what's happening right now. So to give you a great example. Today is Friday ... It's Friday the 13th. It's Friday the 13th of April, 2018, when I'm recording this right now. Examples of how to select the best time frame This last week has been very, very poor for trading the daily charts. There have been very few set ups. I love trading the daily charts, and I post daily chart set ups to my clients on our membership site and there have been very few this week. So it's not to say that everybody has missed out, it's to say that the daily charts for whatever reason, and it's quite rare, but for whatever reason have not produced very many high quality set ups this week. Also, the weekly charts this week on Monday there were no suitable, in my opinion, weekly chart set ups. Now the weekly charts are less surprising, because last week was Easter and then on last Friday we had the US monthly job report, so not a lot happened last week. So I can understand the weekly charts for this particular week not showing a great deal. However, it's been quite an unusual week in that the daily charts, the longer timeframes, have not shown much also. Live webinar with my clients However, I took a webinar last night ... I had a live, two hour webinar with my clients like I do every two weeks. By the way, every week in between Paul Tillman holds the US webinar sessions. So clients get a weekly two hour webinar. But last night I held a webinar. Two hours long, and on that webinar I showed many, many great examples from just this week of the six hour chart trades showing some very good quality set ups. Also in general it was the commodity currencies, the New Zealand dollar, the Canadian dollar, the Aussie dollar, this week for whatever reason showed more high quality set ups than most of the other ... Like the Euro and the Pound and the Yen and the Franc,

Podcast: Join me on a LIVE Forex webinar – Ask me anything In this weekly video: 00:29 – I’ll answer your Forex question on a live webinar 01:22 - Not your usual Forex webinar 01:53 – What is your question? 03:08 – Don’t miss this opportunity 04:11 – Fill out the form on the link below Would you like to have the opportunity to join me on a live Forex Webinar where I answer your personal question? If you would, listen up, we've got some great news for you. Hi Forex traders, Andrew Mitchem, the Forex Trading Coach, a Video and Podcast Number 267 and something different for this week. I’ll answer your Forex question on a live webinar For the last 266 videos and podcasts I've been explaining information about how I trade and how I can help you but for today I'd like to change the roles a bit and ask you a question. You see, I'm looking at holding a live webinar really shortly and I'm going to be joined on that live webinar by Paul Tillman who's a client of mine. Paul joined me just over three years ago, he lives in North Carolina over in the US. Due to Paul's amazing trading success after he took my course, he's now joining me at the Forex Trading Coach. He takes my live US webinars, helps on my forum site as a moderator. I'm going to be joined by Paul on the live webinar but what we're going to do on that session is answer your Forex questions. Not your usual Forex webinar On that session we're not going to have PowerPoint presentations, we're not going to have slides, we're not going to have all this background about us, you kind of already know that already or you can find it out. We're not going to do 20 minutes of waffle, it's going to be only Forex related questions and answers and suggestions using just our cameras and our screen, that's all it's going to be, no PowerPoints at all. It's going to be quite different to any other Forex webinar that you've been on because what I'm going to do is answer your question. What is your question? Below this video you'll find, or somewhere on this page below here, you're going to find a link through to a survey form and it's just one question only. It's not a big, long survey that's going to take you ages, it's one question. All I'm asking you is this. What is that number one, single biggest issue or biggest problem that's holding you back or preventing you from being a profitable Forex trader? Now, it could be any number of things but try and think of what the biggest thing. You can put several if you want but try and think of what would be the main factor. It could be a number of things. Give you some examples, it could be a lack of a good strategy, a lack of understanding the market, do you want to be a technical or fundamental trader? You're feeling all alone with your trading, you've got confusion, you don't know what timeframes to trade, you don't know where to put your stock loss or profit target, you don't know how to trade the news, you don't have enough funds to trade, all sorts of different things. Tell me on that questionnaire your number one problem and what will then happen, once you submit that questionnaire, I'll then send you a link to the live webinar. Don’t miss this opportunity Look, I really don't do this very often for the public. Of course I hold live webinars for my clients weekly but for just general public, general traders who are not coaching clients, I don't do this very often so take advantage of this opportunity to join myself and Paul live. We will answer every question on that webinar . It's going to be an incredible webinar, an incredible experience and an opportunity for you to gain not just the answer to your question but to listen and to understand the questions and the answers and the solutions that we give to all the other questions that we get asked as well. It's going to be a one off webinar, live webinar. Register for that webinar after you've filled in the quick survey for me and th...

Podcast: Why You Should Never Use a Fixed Stop Loss In this weekly video: 00:26 – Where should I put my stop loss and profit target? 00:53 – Every trade is different 01.26 – Each currency pair has different characteristics 02:10 – What time frame chart, what time of the day? 02:44 – Put your stop loss and profit target according to the market conditions 03:40 – How I trade 05:17 – Teaching and helping traders for 9 years at www.TheForexTradingCoach.com I'm going to explain why you should never use a fixed stop loss, or even a fixed profit target, on every single trade. Let's get into that and more right now. Hi Forex traders, it's Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 266. Where should I put my stop loss and profit target? Now a question that I get asked so many times, every single day; it's all about, "Hey Andrew, where should I put my stop loss? Where should I put my profit target? How many pips should I risk on each trade? I like to risk 15 pips and therefore how can I trade the daily charts?" All sorts of really interesting questions like that. Generally it comes back to people's misunderstanding of market conditions and how to trade properly. Every trade is different Because you see in my opinion, you should never, ever, ever think about using the same stop loss or the same profit target on all trades, because every trade is different. Every trade the market conditions change all the time. When people come to me and say, "Hey Andrew I want to risk 15 pips on a trade," it's like well, why would you do that? What is the point? What's the relevance? What's the reason? Why not 17 pips or 12 pips? But either way, don't use a fixed stop loss because it's meaningless. Let me explain why. Each currency pair has different characteristics Each currency pair has different characteristics. For example, if you looked at the average range on the Euro/New Zealand or the Pound/New Zealand, let's say. Maybe several hundred pips per day it might move. But you then look at a pair like the Euro/Franc or the Euro/Pound, and it might move 50 pips in a day. But 50 pips on the Euro/Pound could be quite a big move. Whereas 150 pips on the Pound/New Zealand in a day could be quite a small move. It's a relative to the currency pair that you are trading. But it's more than just that. Of course, you need to be aware that different currency pairs pair at different amounts per pip also. What time frame chart, what time of the day? Take that a step further; depends on what timeframe you're trading. It depends on the time of the day, possibly. Is it in the Asian session when generally not much happens? Is it in the European or US session? What month is it? What time of year and the conditions are right now? If it's Northern Hemisphere Summer season, the market might be a little bit flat. Now this week, heading into next week, we're coming up to the week before Easter. Conditions may be very, very flat, or they could be very, very volatile. We just don't know. Put your stop loss and profit target according to the market conditions The only real way you can do this is to put your stop loss and your profit target according to the market conditions right now. Because I can't say that I'm going to put a 25 pip stop on a Euro/US dollar one hour chart next week, because next week it could be really, really flat or it could be really volatile depending on all sorts of news events. As I said, leading up to Easter all sorts of things that right now I don't know what's going to happen. But what I do know is that when I see a technical set up on a chart, if I put my stop loss at a set level it's irrelevant. If I put my stop loss at a level that's applicable for that trade on that timeframe on that currency pair with the market conditions as they are right at that time, I have myself a very safe stop loss. Same with a profit target; you have to use current market conditi...

Podcast: Copy My Trades, Automagically! In this weekly video: 00:28 – Have your own account traded from my personal FX account 00:56 – Our aim is to be profitable traders 01:38 – My manual strategy traded by an algorithm 02:23 – 100% traded automatically on your account 02:56 – All months have been profitable to date 04:06 – Using 4xSolutions to copy my trades 05:27 – How to find out more and to join Would you like to have my personal trades copied onto your account auto-magically? If you would, listen up. I've got some very exciting news for you. Hi traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 265, and I've got some exciting news to share with you. Have your own account traded from my personal FX account I'm wanting to give you the opportunity to have your own personal account traded auto-magically by using my own personal trades. In other words, without having to do absolutely anything at all, no placing trades, no getting text alerts, nothing at all like that, you can have your own MT4 account traded with the identical trades that I have myself. Our aim is to be profitable traders Let me explain more. So as traders, of course, all we want to do is to be profitable. That's the whole aim of being a Forex Trader, and we have the option of being manual trading or automated trading. Automated trading means having an algorithm or an expert advisor or a trading robot. It's all basically the same thing - different names for the same thing. I've been trading Forex for 15 years, and over that time, I have just been inundated like I'm sure you have been with lots of expert advisors, Forex robots, promising absolute everything. Not one of them, have I ever seen that's been commercially available, has ever made money. My manual strategy traded by an algorithm However, what I've done over the last number of year is I've worked really hard to have my manual trading strategy put into an algorithm so it's being coded with my manual trading strategy logic. I don't want to be up 24 hours a day trading the Forex market. Also, I'm not personally a fan of trading the shorter timeframe charts. I much prefer with my manual trading to be trading the longer timeframe charts because it means I don't need to spend very much time looking at the charts. For me, my full-day trading involves no more than about 30 minutes of actual looking at charts. It's great because I can trade full-time like that, but what I've done is I've actually got my system and strategy automated to scan the shorter timeframe charts. 100% traded automatically on your account That's what I'm offering you, a 100% fully automated robot trading algorithm, which can auto-magically be traded on your account for you. I've been extensively back-testing and live-testing this strategy for a long, long time now, and in November 2017, I took the strategy on a live account, and it's been published. The results have been published on my FX book, which is a 100% fully automated and verified trading system. In that time, so we've now had 4 completed months, 4 full months of so far being profitable. The strategy until today, which is the 16th of March has been averaging 3.3% account gain per month, and so who knows what's going to happen in the future? You just cannot tell, but with extensive back-testing and now some forward-testing and live-testing, the strategy is performing extremely well. It's having about a 70% winning success rate, so around 7 out of 10 trades that it takes are profitable, and we're averaging 3.3% account gain. It's important to understand that for some people 3.3% per month sounds really, really low for Forex, but it's really important to understand that you need to minimise your risk as a Forex trader. I could quite easily triple the risk, and I could say, look, it's making 10% or 9.9% per month, but I've kept the risk low deliberately so it's making 3.

Podcast: How Divergence can help identify high quality trade setups In this weekly video: 00:29 – Divergence can help identify great trade setups 01:10 - There are so many ways to trade 01:35 – What is Divergence? 02:44 – 2 types of Divergence – Standard and Hidden Divergence 03:12 – You cannot take divergence signals by themselves 04:18 – Indicators are just an aid to alert you 05:02 – Contact me if you need more help I'm going to talk about divergence and how spotting divergence can help you identify high-probability trade setups. Let's get into that and more right now. Hi, Forex traders. It's Andrew Mitchem here, the owner of The Forex Trading Coach. This week, we're into video and podcast number 264. Divergence can help identify great trade setups I'm going to help you understand and explain to you all about divergence and how it can really help identify high-probability trade setups. It really is this amazing occurrence that you see on your charts, and it can really help identify great setups, but like all technical analysis, you cannot use divergence just by itself. You have to basically blend it with a really defined group of other indicators and tools to help you become a good trader and help you have a good strategy, but in this video, I want to talk just about divergence because it really is very powerful if you understand how to use it correctly. There are so many ways to trade As traders, there are unlimited ways of trading, and really, all we're trying to do is add as many factors, as many occurrences together showing at the same time to say, "Hey, this is a high-probability setup. Technically, this is looking good. It has all these things, A, B, C, D, E, F, G, in its favour. Yes, it's looking good. Let's take the trade." There are so many ways to trade What does divergence do? Well, divergence occurs on your charts, and mostly, you see it when you're using oscillators like RSI, or stochastic, or MACD. I use it only on stochastic myself, but it can be used on a variety of oscillating indicators, and what it's doing is showing us a difference between what the indicator is identifying should be happening in the price and what the price is actually really doing. When you get a conflict, say you get the indicator going one way and the price actually going the other way, so it's that conflict, which creates the divergence, and when you, for example, get the price making higher highs, and the indicator is suggesting the highs, and the indicator are going lower, that gives us a higher probability chance of a reversal from that uptrend. Of course, you need candle patterns and you need it to occur in the right part of the chart. That's all additional material that I cover in depth in my course, but just understanding divergence and saying that a price is going up, the indicator is going down, the likelihood is that the price potentially now should start to reverse. 2 types of Divergence – Standard and Hidden Divergence So you have what you call “Standard Divergence”, positive and negative. I also use something that's called "Hidden Divergence," so hidden positive divergence and hidden negative divergence. They help me identify continuation patterns far better. Again, I cover all that in detail if you'd like to know more in the course, but you use divergence with a number of other factors, and it really can help identify high-probability setups. You cannot take divergence signals by themselves As I mentioned at the beginning, you cannot use divergence just by itself. Don't just go out there looking for divergence and go, "Here's divergence on my charts. Therefore, I'm taking a sell trade or a buy trade." You can't do that. You have to blend it in with your overall big bucket basically of technical knowledge and put all these things together, but once you understand divergence and the difference between Standard Divergence and Hidden Divergence,

Podcast: Why do so many fail as a Forex trader? In this weekly video: 00:24 – We all want to become a good Forex trader – but most fail 01:11 – How much do you want to succeed? 01:35 – It’s easy to quit 01:50 – Trading success stories 03:10 – What makes these traders successful? 04:40 – It takes real dedication in order to succeed 06:10 – Good Forex coaching is a must What do you need to do in order to become a better Forex trader? Let's talk about that and more right now. Hi traders, Andrew Mitchem here, the owner of The Forex Trading Coach video and podcast number 263. We all want to become a good Forex trader – but most fail You see, almost everybody who starts trading Forex wants to become a good Forex trader. Obvious, right? But very few people actually achieve that so why is that? You have a look online and you'll hear the figures, somewhere people estimate between 90-95% of all people who trade Forex don't actually make money. It's an appalling statistic but I can see that it's quite likely to be very accurate and after trading the markets for close on 15 years now, there's a number of traits that I see when it comes to people who become successful as opposed to people who are not. I've been coaching for almost nine years, so you know, over those years, you kind of get to work out what works and what doesn't. How much do you want to succeed? A lot of it comes down to how much do you really want it and dedication. It's very easy to go, "Oh, Andrew, look, of course I want to be a trader. I'm going to do anything possible. I'll be completely dedicated to being a trader because I want it so much and I hate my job and I want to work from home." It’s easy to quit Whatever the reasons might be and I hear that all the time, but the problem is it's very, very easy to quit. You know, t's very easy to blame the market, blame someone else. "This didn't work. I'm quitting. I'm changing systems." All the rest of it, but let me tell you and share with you a couple stories and these are great examples. Trading success stories Now, these are both from just yesterday. These are both clients, so I had an e-mail here from Emery who lives in Canada and Emery said to me, "I'm at the point where I'm now trading full time quite comfortable. I take trades on the weekly, the daily, the 12 hour, and the 8 hour time frames, and it's been wonderful. Thanks a lot for everything you do. Since becoming a client, my confidence in trading has only increased and since graduating six months ago from a demo to a live account, I've not had a single losing month. I think perhaps maybe only two losing weeks in total." That's from Emery. Again, it just shows what can be achieved. Another post here on my forum site again, just yesterday from Sean who lives in Australia. Sean said, "I took this trade on the US/Canadian dollar last night before going to bed, woke up for a nice profit. Had a two to one reward to risk. Been very selective with my trades lately and only taking A Grade setups, getting only two to three trades a week, but I'm up 6.5% for the month." That's just an amazing achievement. That was for February, 6.5% for February. It just shows what can be achieved. Now the interesting thing is I'm not just plucking out two sort of people. What makes these traders successful? I'm picking out two people who only yesterday told me their results and how they're doing, but not only that. Those two people are very, very dedicated so first of all, they sought some good professional coaching, so that's the first thing. They're dedicated, wanted to invest some money into themselves to become good traders. The second thing is I've got thousands of coaching clients but the second thing is about Emery and Sean, plus lots of others, but those two we're talking about right now, is that they're dedicated because they always log in to view the membership site daily, to view my daily suggestions.

Podcast: How to deal with good and bad trades In this weekly video: 00:26 – Trading phycology and the mental aspect of trading 01:19 – The good and the bad side 01:35 – When trades go wrong 02:30 – Fantastic when your winning 03:31 – What can you do when you are losing trades? 04:31 – 6 out of 7 winning trades on the Daily charts this week 05:38 – Consistency is key to success 06:15 – Control your risk per trade and control your emotions 06:55 – Look at the bigger picture 07:49 – Contact me if you need further help Trading psychology is a really important part of trading. How do you deal with good and bad trades? Let's talk about that and more right now. Hi, traders. It's Andrew Mitchem here, The Forex Trading Coach, video and podcast number 262. Trading phycology and the mental aspect of trading Now, trading psychology, all about the mind, it's a really, really underrated and overlooked part of trading. You see, everybody wants to get into the nitty-gritty of the actual trading strategy and how to make money, but the reality is that good trading, a large part of it comes down to your mental approach because after all we're talking about emotions. We're talking about making and losing money, real money and it hurts or it's fantastic depending on which side of the trade you're on. Let's talk about the two different approaches, really, and also with the bad side, how I can give you some help and information from my personal experience to help you overcome that. The good and the bad side When you have losing trades, all of a sudden, everything feels terrible and you know what I mean because you've certainly been there. All traders go through it. I still go through it after trading for years and years. But there are some things I can help you with. When trades go wrong When trades go wrong, you start to have doubt in your system, doubt in your own ability, and it just all feels horrible. You see what you think are good setups and trades just go wrong because after all trading is not an exact science. It's about probability. Not all the time are your really nice set up is going to work 100%. You start having doubt and some people then, especially new traders, they start having anger, frustration, fear, all those types of things. Some people want to just get back at the market and they start doing really stupid things. They'll take silly position sizes. They'll start doubling up a position. They'll take a trade just because I want to take a trade and get my money back, all those kind of crazy things. Especially when you're new, that is something that is very easy to fall into. Fantastic when your winning Take the opposite side of that scale and you take a series of winning trades and, all of a sudden, life is fantastic. You're making money. You're seeing lots of profit whether you're using MT4, lots of green lights. You're hitting your profit targets and your cash is growing beautifully. The danger then is you can become very blasé about your trading, almost like indestructible, almost like that teenager mentality where I can drive a car really fast because I know what I'm doing and it never happens to me and it's a thrill, all those types of things. We've all been teenagers and many of us have teenagers as children and you know that little bit of knowledge can be very, very dangerous, that kind of approach and that can become a problem when you have some winning trades is that the whole mental part goes out the window because you just think that every trade you take is going to be a great trade. Of course you know the answer. You're going to get hit really badly. What can you do when you are losing trades? Going back to the losing side of things, what can you do? Well, first of all, it's important to be mentally focused. It's important to be disciplined, to be trading at the same times of the day, to be trading the same set ups, the same timeframe charts.

Podcast: Knowing when NOT to take a new trade In this weekly video: 00:25 – Learning to reject a trade 00:53 - Less is more 01:14 – Live 2 hour webinar and examples shown in real time 01:50 – I took 1 trade and rejected others 02:51 – The AUD/NZD H6 trade 04:32 – The trade hit the full profit for a 2:1 reward:risk ratio, or a 1% account gain As part of being a good Forex trader, it's important to understand when not to take a new trade. Let's talk about that and more right now. Hi, Forex traders. It's Andrew Mitchem here, The Forex Trading Coach with video and podcast number 261. Learning to reject a trade An important part of being a very good Forex trader is having the ability to reject trades, to see good, technical setups, but you may also see a reason why not to take that trade. You see, as a Forex trader, I'm sure that you want to take new trades. It's the excitement, it's the buzz of identifying new setups of taking new trades because that's what we do. We're looking for trade set ups all of the time. Less is more Part of being a good Forex trader is also using the less is more philosophy. You don't need to keep taking trades in order to do well. You need to have the higher quality trades in order to do well, not the volume of trades. It is important to understand what to look for when not to take a new trade. Live 2 hour webinar and examples shown in real time As an example, just last night I held a live two hour session with my clients, so traders from all over the world on this session for two hours in the European session, and we were looking at trade setups that I'd taken over the previous week, looking at some really good technical setups. Most those trades worked. A few didn't. That's just part of trading, but in real time, I was finding that yesterday, which was Thursday, the 15th of February, the market in the European session was just a little bit quiet and there wasn't a lot there. Then towards the end of the session, there was some very nice technical setups showing. I took 1 trade and rejected others But I only took one trade. What I was finding was there were good technical setups, but I was also finding a reason not to take the trade, and it could be, as an example, as a buy trade, it means that we're buying into a round number. We may be just a few pips below a round number, like a 00 or a 50 level. We don't want to be doing that. You don't want to be buying directly into a middle Bollinger band or a pivot point or as a buy trade, you don't want to be buying and knowing that you need to get your profit target through a previous resistance level or previous high. Those type of things. That's what you want to avoid doing. I was looking at a number of good technical setups, and I was saying to clients, "Look, I really like this. It's got a great candle pattern. It's in the right part of the chart. It's got a trend line break, all the things we're looking for. Oh, but this trade's against today's ideal strength or weakness, or this trade's buying directly into a round number of 00. There's reasons why not to take those trades." The AUD/NZD H6 trade Then towards the end of the session, I found a great technical trade on the Australian dollar, New Zealand dollar on the six hour chart, and I took the trade. Had everything I was looking for. It had the great candle pattern, it was in the right part of the chart. Yesterday, you can go and look on my free analysis for Thursday, the 15th of February. I was suggesting looking for sell trades on the Aussie Kiwi Cross, and that's exactly what I was doing on the six hour charts. I had a round number in the pivot point to protect my trade, as in protecting the stop loss. We'd just broken through some recent lows, and my profit target was before the last major swing low, so it had everything in its favour, so I took that one trade. Although I identified during that session probably about five trade in total,

Podcast: Trading with the Daily Direction In this weekly video: 00:27 – How to increase your win rate 00:53 - Trading is all about probabilities 01.25 – Looking to buy or sell trades 01:46 – Taking setups that are in the direction of the daily trend 03:15 – Don’t take trades that are against the bigger trend 03:38 – I post daily trend analysis to help you – link below Trading with a daily direction can give you such a great advantage when trading for shorter time frame chance. Let's talk about that and more right now. Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 260. How to increase your win rate I want to give you a really useful piece of advice that will substantially increase your win rate. It's all about trading with the likely overall daily direction, trading with the bigger picture. You see, if you can trade where the bigger trends are likely to be going, then it stands to reason you're giving yourself a higher chance of having a profitable trade, providing, of course, your technical setup is correct in the first place. Trading is all about probabilities Trading is all about probabilities. That's really all it is. It's about seeing technical setups and knowing that if a certain setup, a certain candle pattern, a certain price has been hit, a certain support and resistance level, whatever it might be that you're looking for, you know that, given history, when that setup shows, you know that the probability is that the trend or the pair will move in this direction. You know that because you've analysed that. That's how you have your strategy in the first place. Looking to buy or sell trades Of course, when we're looking for trades in the Forex market, we can look for buy trades or sell trades, to go long or short, to go up or down, and that's the beauty with the Forex market, and that's one of the reasons, one of the many reasons why we love trading the Forex market, the ability to buy and sell and make money on both directions. It's a fantastic benefit of trading Forex. Taking setups that are in the direction of the daily trend However, when you think about it, if you see within the course of a day ... Let's say you're trading one hour charts. You see five trade setups and you see sell trade setups. Which ones are likely to work for that day? No one really knows, of course, until after the facts happen, but when you think about it, if you see on the daily chart, let's say a big up trend and you see strong, bullish candles on the daily chart, but it stands to reason that if, within that day on a one hour chart, you see strong buy setups, good, strong, technical, buy, trade setups, it means that you're trading with the bigger picture. They could be continuations on the one hour chart or they could be right after a pull back, which, by the way, you've probably seen the sell trade and you've ignored it because, for today, you're looking for buy trades. You've ignored that little pull back and now you're seeing a good, strong, bullish candle pattern, ready to ride the bigger picture of the daily chart, and now it looks like the one hour chart's ready to resume. It's up trend after a pull back. Again, it's probability, stacking as many favourable items in your favour as possible. This could be, sort of, the candle pattern. It could be the trend line breaks. It could be bounced at round numbers. All these type of things that we're looking for, and now on top of that it means that if we're trading in the likely daily direction, that has to have more weight to our trade, and that's to give you a higher overall win rate. Don’t take trades that are against the bigger trend You just think about it. Why would you take sell trades on that day if the likely bigger picture is for the market to move up? Yes, you might catch some little retracements and some small pull backs, yes you might, and yes,

Podcast: Do you lack the time to trade? In this weekly video: 00:26 – Most people don’t think they have sufficient time to trade 01:07 – New traders want to watch the charts all day 01:45 – Are you ready to trade or is the market ready? 02:09 – Scared to leave the charts? 02:39 – Less is More 02:58 – Trading examples from Monthly charts and Daily charts 04:00 – You don’t need to be on your computer all day long 04:30 – Look at a new trade only on the completion of a candle 05:05 – Trading must be realistic and enjoyable Do you find you don't have enough spare time in the day in order to trade the Forex market properly? If that's you, listen up, I've got some really good news. Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach with video and podcast number 259. Most people don’t think they have sufficient time to trade Today's video and podcast is all about having available time in order to trade. You see, most people will find that they don't have sufficient time in the day. I had an email just this morning from a guy called Brian. Brian said to me, "Andrew look, I don't think I'm gonna do your course because I don't have enough time to dedicate to trading. Time I go to work, come home, help the wife, help with the kids, try and do something for me, some sports, leisure, music, there's just not enough hours in the day to then go and sit and watch charts all day." It's a common problem that so many people have, and you see the problem is that so many people think that they need to be staring at the charts all day. In reality you don't. New traders want to watch the charts all day You see, the problem is this, when most people start trading, they want to be looking at the charts all day long. They're looking at every pip of movement, they're looking at every news release, they're adding indicators, they're trying to make this special combination, this nice concoction of magical indicators that's suddenly gonna tell them all these perfect trading signals, to buy here and sell here. Unfortunately it just does not work like that. Most people then start to go down to shorter timeframe charts because they want to look at five minute charts or 15 minute charts, and they're trying to pick every single movement, every swing, every upward movement, every downward movement. Are you ready to trade or is the market ready? When they place trades, they're placing them because they are ready, not the market is ready. It's like, "Well, my clock says I've got an hour to trade, I'm gonna find a trade and I'm gonna find something suitable to trade." So they're forcing themselves to go shorter and shorter timeframes, and just placing a trade for almost like the need to want to place a trade, not because it's the right thing to do at that time. Scared to leave the charts? Then, when they place a trade, they're scared to leave the charts because they might miss out on a one or two extra pips on that trade, or it might pull back against them and, "Oh my goodness, what am I gonna do now?" You'd understand what I'm saying because we've all been there, and I've been there myself so I know exactly that's the reality for most new traders. I can tell you that after 15 years as a full-time Forex trader and a coach, I've kind of seen it all by now, I've been through it all, and I've seen it all, and I've heard it all. I can honestly tell you this. Less is More The phrase 'less is more' is absolutely, perfectly suited to becoming a good Forex trader. What I mean by that is this, the less you trade, the less time you spend looking at your charts, the less you're fiddling with trades, the more you'll make, the better you'll be. Trading examples from Monthly charts and Daily charts I'll give you example, today is the 1st of February, and so I'm making this video and podcast a day earlier, I usually make it on a Friday, but I'm away tomorrow so I'm making it on Thursday the 1s...

Podcast: Controlling Your Risk In this weekly video: 00:23 – A common problem that can help turn your trading around 01:03 – Different pairs pay a different amount per pip 01:23 – The best way to control risk – Use my Lot Size Calculator (download link below for you) 02:10 – Placing your Stop Loss at a safe level 03:25 – Your trading will improve by using the calculator I’m gonna explain how you can control your risk by adjusting your position size so let's talk about that and more right now. Hi traders. It's Andrew Mitchem here, The Forex Trading Coach, video and podcast member 258 and in today's video and podcast. A common problem that can help turn your trading around I'm going to address a very, very common problem that can really help you to turn your trading around. It's very simple but unfortunately, most people do this the wrong way round. Now, I'm guessing that if you're like the majority of retail traders out there, if you place a trade, you put the same position size on every single trade. I expect you do. Why? Well, because it's easy and most people don't have any other understanding or knowledge about what else to do and so most people you'd see put one standard lot on every trade or put 0.1 or 0.01 lots, just because it's easy. Now, that is quite clearly not a good way of trading but unfortunately, most people do that. Different pairs pay a different amount per pip You see different currency pairs pay out different amounts per pip and by putting a 0.1 lot on every single trade, as an example, what it's doing is it means that you're putting that same position size on regardless of the currency pair, regardless of the time frame of a chart or regardless of the stop loss that you're taking. The best way to control risk – Use my Lot Size Calculator (download link below for you) Now, there's a far better way of doing it and I used my lot size calculator and it's freely available on my website and I'll put a link below this video for you to download it if you haven't already got it. It's been downloaded over 20,000 times. It's an amazingly simple and fantastic trading script that works on the MT4, Meta Trader 4, platform. But more about that later. So, what I like to do is because I use that script all the time, but what it does is it tells me the exact position size that I need to use on a trade, regardless of my account size, my account denomination, the timeframe of the chart, the type of trade I'm taking, the currency pair. It works it all out for you with simple drag onto the chart into your stop loss and it tells you everything you need to know. Placing your Stop Loss at a safe level What you're then doing is putting your stop loss at a level that technically is giving you a high probability chance of staying in the trade and you then need to work out your position size needed for that particular trade from there. It then means that if the trade goes wrong, you know, as in my example, I love half of one percent of my account. And I get a lot of people coming to me. They say, "Hey Andrew, but you keep talking about ideally you should be looking at trading the longer timeframe charts but how can you trade the longer timeframe charts because I need to put a small stop loss in and that means I'm getting stopped out all the time." Now, that's clearly a lack of understanding of the market and what you need to be doing because you can't just place a 0.1 position size, let's say, on a daily trade if that's the same position size that you place on a five minute chart trade, as an example. So, therefore, you're position size on a daily chart trade might be, let's say, 0.02 lots or whatever it needs to be according to your account size and the trade that you're taking. So, I hope that helps. It really will make a massive difference to your overall trading success. As I mentioned, that calculator's been downloaded 20,000 plus times.

Podcast: How to trade Crypto Currencies Profitably In this weekly video: 00:29 – The hot topic of conversation 00:49 – I took a Sell trade on Bitcoin on my live webinar 01:22 – Traded on Axi Trader FX account 01:54 – Technically the setup was the same as trading Forex charts 02:20 – Massive 37% loss since the high in December 02:50 – A client on mine has developed a robot which trades Bitcoin – Live Webinar on 25th January 04:03 – Click on the link below to attend the live webinar Cryptocurrencies. Everybody's talking about them. If you want to know how to trade them profitably, listen up I've got some great news for you. Hi, Forex Traders! Andrew Mitchem here, The Forex Trading Coach. Video and Podcast number 257. The hot topic of conversation Gonna talk about the hot topic of right now, which is cryptocurrencies, Bitcoin, et cetera. Wherever you go online, it's all over the internet; it's all over newspapers. Is it a good thing? Is it not a good thing? Is it a bubble? Are people gonna lose their homes over it? All these types of things are going on right now. And up until recently, I haven't personally had a lot to do with cryptocurrencies. I took a Sell trade on Bitcoin on my live webinar But yesterday, I held a live two-hour live webinar for my clients. During that session, I saw a fantastic trade set-up on the Forex charts, but on Bitcoin. It was a sell-trade. If you've been following Bitcoin, for example, back in mid-December it was up at 19,000 U.S. dollars. Now it's just so dropped below $12,000. And so I saw a technical set-up on Bitcoin to sell it. It was on a four hour chart. It went really nicely. Traded on Axi Trader FX account The interesting thing was I took the trade on my AxiTrader account and the minimum lot size I was able to place was one standard lot. So with a volatile market like Bitcoin, that was quite a lot of movement and quite a big fluctuation in my profit and loss as the trade was progressing. So it is something that you'd need to have a relatively large account size in order to do because there is potentially a lot of money to be made and also potentially some to be lost if you don't know what you're doing. Technically the setup was the same as trading Forex charts But what I really did like about it is technically, it didn't matter whether I was trading the Euro U.S. dollar or Bitcoin against the U.S. dollar because technically, the set-up was there and my charts and my software picked the candle patent that I've always looked for regardless of what I'm trading or what time frame. And saw the trade, basically, took the trade. Now, as I mentioned volatility is there Massive 37% loss since the high in December The good thing is that with the way that I traded it through my broker, my Meta Trader 4 broker, is I didn't need $19,000 U.S. like you would have back in mid-December. Just imagine how those people are feeling today when the prices right now as I'm recording this is under $12,000. That's around a 37% loss on their money in one month. That's not good. You know? The great thing is that with leverage through your broker, you don't need that money upfront. A client on mine has developed a robot which trades Bitcoin – Live Webinar on 25th January So. Good things to tell you about. Ivo, who is a client of mine over in Ireland. He's been with me for about probably four or five years. He's developed a trading robot or an expert advisor that trades my strategy. He calls it Satoshi and he trades it very successfully across Forex pairs. Now he's developed that same robot to work across Bitcoin. Now, next week on Thursday the 25th of January, we're gonna be holding a live webinar. It's gonna be in the European session and what I'm going to do is I'm gonna put a link below this video and podcast where you can register and attend for free the live webinar that I'm going to be holding with Ivo. There's no obligation at all to anything.

Podcast: How To Make 2018 a Profitable Trading Year In this weekly video: 00:22 – Met with Dean Hyde from Blueberry Markets in Sydney 00:50 - Have a profitable 2018 trading year. 01:40 – Back into trading for the year. What do you need? 02:30 – A set of rules and goals. Hi Traders, Andrew Mitchem here, the Forex Trading Coach with video and podcast #256. Happy New Year to you. This is the first video and podcast for 2018. As you can see, I'm in Sydney in Australia, where I've been here for the last week. Had a great time here. Met with Dean Hyde from Blueberry Markets in Sydney I've just had a meeting with Dean Hyde who is the owner of Blueberry Markets. If you've never tried Blueberry Markets I can say that they are an extremely good broker; offer everything that we're looking for, 5:00PM close of day charts, Metatrader 4 broker, ASIC regulated here in Australia. Extremely high level of personal service for all our clients. I'll put a link to Blueberry Markets below this video. The video and podcast for this week is all about making sure your trading progresses well and profitably into 2018. Have a profitable 2018 trading year. If you've already been trading, make sure that you use last year's information to your advantage; go through your charts, go through your account from 2017. What worked? What timeframes worked for you? What currency pairs? Are you a news trader? A Technical trader? What worked consistently well? What type of setups? Make a note of that, and obviously use that information to your advantage. Because likewise, what did not work? What can you cut out from your trading? What silly mistakes can you cut out that cost you money last year that you don't want to continue with this year? Use that information to your advantage now that the market's just a tiny bit quiet as we head into the new year. My manual trading started Wednesday the 10th of January, and now we're back into more normal market conditions it's now a good time to start manual trading again. Back into trading for the year. What do you need? Other decisions you can take heading into the new year; how are you going to progress your education? What are you looking for? Are you looking for a mentor? Some form of course? Are you looking for forums? What is it that you really need in your trading heading into 2018 to make it a great year? Have a think about that. If it's coaching, if it's some form of membership, then of course I can help you. Training clients all around the world, 58 countries at last count. I've been trading for now nearly 15 years, and coaching for nine years. So I've seen all sorts of different traders from all different parts of the world. All market conditions we've experienced over that time. It's really now a time to focus on your goals. What I do see is people who are consistent with looking at setting goals are the people who do the best. Look for goals, look to have a set of rules that work for you. A set of rules and goals. Really important that you do that. Take your time, do that now. Consistently review that on a daily basis as you trade throughout 2018, and it will make a massive difference to your overall results. Once again, this is Andrew Mitchem, owner of the Forex Trading Coach, in Sydney. Have a great time with your trading, and I'll see you this time next week. Click here to Download Blueberry Market MT4 Broker Check out my suggested Forex Brokers! Click here!

Podcast: How Was Your Trading Year in 2017? In this weekly video: 00:25 – Were you profitable in 2017? 01:00 - Look back at your trading year and make a good analysis on your performance 01:45 – Use the quieter market and the benefit of hindsight to improve your trading next year 02:25 – Have a look at my 255 videos and podcasts over the holidays 02:50 – Strength and weakness analysis and free trading strategy 03:16 – 2017 in summary and helping create independent and profitable traders 04:10 – If you want my help in 2018, just contact me and I’ll be glad to help 04:25 – Merry Christmas and Happy New Year How was your 2017 trading year? Was it a good one? Let's talk about that and more, right now. Hi Forex traders! Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 255, and this is the last video and podcast of the year 2017. Were you profitable in 2017? So it's a good chance and a good time right now to reflect on your trading year of 2017. How was it? Was it a good year? Have you been profitable? Have you lost money? Have you broken even? How was it overall? Were there certain months, were there certain times that were good, that were not good? And certain types of trade patterns that you took. Are you a news trader? Are you a technical trader? What kind of timeframe charts do you trade? What has worked for you? What has not worked for you? It's a really good time. Look back at your trading year and make a good analysis on your performance It's an important thing to do right now is just to look back at that year. With the benefit of hindsight, what would you do differently? What did really work for you? What didn't work? Where's the consistency? Is there consistency? Is your trading all over the place? Are you getting a high win rate but still losing money? Different things like that. Have you had a few big terrible trades that have wiped out lots of gains? And I think it's a really important time to reflect and to go back and look at your trades, look at them on the charts, and just use that benefit of hindsight. Was that a silly trade to take? Did it break all my rules? Was it a great trade? Why was this a good trade, and what did it have as the setup? Use the quieter market and the benefit of hindsight to improve your trading next year What can you learn from that? Use this quieter time now on the market, because really the market from next week is going to be fairly quiet. I'm going no longer than Friday the 22nd of December, probably even maybe a day or so finished trading before that, and I'm not going to start trading until at least Wednesday, the 10th of January. I really want to get into that first full week of the year, and the Monday and Tuesday the 8th and 9th are quite likely to be a bit slow, so Wednesday the 10th at the absolute earliest for me before I start trading again into 2018. Have a look at my 255 videos and podcasts over the holidays So what can you do over this holiday period? Well, I encourage you to go and have a look through a lot of my past videos and podcasts. This is video and podcast number 255, so there's a massive amount of information there for you to go and look through. Do you want to look at trading daily charts? Do you want to learn about different timeframes, reward and risk? Low risk per trade? All those different things. There is so much information freely available on my website. Strength and weakness analysis and free trading strategy You can go back through my strength and weakness analysis, have a look on the daily charts. How could you best use that with your own strategy? If you don't have a strategy I have a freely available strategy available on my website for you to download and to learn from. I have a risk calculator there available. There's lots and lots of freely available information. Very valuable, good, honest, practical trading information for you to benefit from.

Podcast: Amazing Trading Results In this weekly video: 00:32 – We all want the results – but do you put in the effort to succeed? 01:20 - Live webinar with my clients – amazing results 01:45 – 10.96% gain in 4 weeks 02:55 – Dedication and commitment pays off 04:10 – Trade Copier Services starting in 2018 05:23 – Learn how to trade or have your account traded for you I'm going to share with you some amazing Forex results and how you can also benefit from them. Let's talk about that and more, right now. Hi, Forex traders. Andrew Mitchem, here, the owner of the Forex Trading Coach, video and podcast number 254. I want to talk about some amazing results, and how you can also have the opportunity of benefiting from those results. More about that shortly. We all want the results – but do you put in the effort to succeed? As Forex traders, we all want results, don't we? We all want to profit. That's why we're doing this, after all. But the problem is, with the learning process, is really, how many people put the dedication in, and the effort in, to learn? A lot of people spend a lot of time on charts, on forum sites, basically messing around, thinking they're getting somewhere, but in reality they're probably not. Does that sound familiar? I know when I first started trading, you know, when I look back all those years ago, like 14 years ago, that's what I was doing a lot of. I was sort of jumping round, adding different indicators, optimising things, going along on to the next shiny object, but not really doing dedicated and committed work to one strategy. That's the problem that most people find. Live webinar with my clients – amazing results Last night, I held a live two-hour webinar with my clients. It was an amazing webinar. I was so pleased with the information that was shared with me during that session, unexpected information. During the webinar, I took two trades, as well. One trade on the Euro Canadian Dollar in one-hour chart, in front of everybody, in 17 minutes hit the full profit target and made an amazing return. 10.96% gain in 4 weeks But during the webinar I shared with clients my results. And in the last four weeks, I'm up 10.96% on my account, my live account. It's the same account that I have, that I manage funds for. 10.96%, still with today to go, being Friday. Although it is non-farm payroll day, so I'm not expecting too much. But almost 11% return on a live account in four weeks with very low risk. I thought I was doing really well, which I am, but when I heard some of the results that some of my clients are achieving, as well, that's just blown me away of how good the results are. That was consistently coming through, from different people typing in. Some had emailed in advance. In fact, I had one guy who lives locally, here in New Zealand, call me yesterday and said, "Look, Andrew, can you show some of my trades on your webinar tonight? I'm trading just the four-hour charts." And he's just having some amazing success. Had other people that are trading one-hour charts, some that are trading just daily charts. Some were trading the offline charts that I provide, like six and 12-hour charts. Some are trading just weekly and daily. It depends on what suits the individual. But the amazing thing is. Dedication and commitment pays off And the really pleasing thing that I like, is that after the dedication, and the work that these people show, and they commit themselves to becoming a good trader and learning, using the tools that I offer, you know, logging in daily to my daily trades recommendations ... which, by the way, are doing really well ... attending the live weekly webinars, being on the forum site, asking questions, all those type of things to ensure that, over time, they become excellent Forex traders, and that's what I was seeing. I was just getting some amazing results. People were typing in. A guy called Ashley said, "Andrew, I'm up 9.

Podcast: Walk Before You Can Run In this weekly video: 00:21 – Our goal is to be profitable 00:58 - Start slowly and then your trading will be better long term 01:40 – Begin with a demo account 02:50 – When you change to a live account, trade the same way 03:16 – Trading account up +7.4% in 3 weeks 04:50 – Forget making money when you start trading You need to be able to walk before you can run as a Forex trader. Let's talk about that and more right now. Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach video and podcast number 253. Now as a trader, our aim, our bigger picture and goal, is to be profitable, is to make lots of money from our trading. Okay? That's obvious. Our goal is to be profitable State the obvious first. But the problem is that a lot of traders have that goal in mind right now and try to achieve that right now, even though they're just starting. And it's a big problem and almost everybody does it. But if I can give you some help and some tips and advice from my experience both from myself and all the people, thousands of traders all around the world that I've taught over the years, it would be this. Learn to walk before you can run. You've obviously heard that phrase in so many different aspects of life and in trading unfortunately it's exactly the same. It really is important that you do that. Start slowly and then your trading will be better long term It's important that you start small. You see everybody wants to make money and everybody wants to pay the bills, give up their job, go and live remotely and work and create an income from their trading. And yes you can do that, but you are not going to do that at the beginning or near the beginning of your trading career. It's gonna take you several years to get to at least that level. So don't try to do it earlier because almost certainly not gonna happen. And you need to start small and you need to start on a demo account. You need to understand your strategy that you're trading, the methodology behind it and be methodical with your trading. Begin with a demo account Don't just think, "Oh it's a demo account and therefore I don't really care if it takes a loss or I don't really care it's still open over the weekend" if your plan is to shut trades before the weekend. Don't do that. Use your demo account to make mistakes that you're gonna make with money management and placing stock losses and profit targets and position sizing wrong, all that type of thing. And then once you've understood that, get onto a live account but make it a small live account. By the way your demo needs to be a small demo account as well. Don't go opening an account of 50 or 100,000 dollars of a demo account, because that's what the brokers want you to do but that's what you should not do. You should open a small demo account because when you make that transition to a live account, you're likely to be opening a small live account. Most people that open an account maybe 5,000, maybe 10,000 dollars. But probably not a lot more as your initial starting balance. And so make sure that your demo account's similar. Make sure it's quite small. When you change to a live account, trade the same way So when you go to live. What are you gonna do different? if you've been profitable on a demo? The answer is nothing. You should continue to trade the same way. Continue to trade small risk and have controlled risk. But it's really important that you get this right because if you get this right and you do take your time and you do almost become a bit boring with your trading, long term it will pay off completely. Trading account up +7.4% in 3 weeks Give you an example. About a month ago Pepperstone, the broker, closed down in New Zealand. And three weeks ago I opened a new Blueberry live account which is a broker in Australia who I use. Very good by the way, so I highly recommend Blueberry.

Podcast: Market conditions are changing all of the time – so must you In this weekly video: 00:23 – Why you need to adapt to the current market conditions 00:51 - Does your system only work in trending markets? 01:27 – A very quiet week – Thanks Giving Day in the US 02:05 – Candlesticks and candle patterns 02:35 – Live webinar with clients 02:55 – Account is up +2.21% for the week so far in 4 days 03:23 – Cyber Monday Sale – 24 hours only on Monday 27th November You need to adapt to the current market conditions to be a good trader. Let's talk about that and more right now. Hi, Forex traders. It's Andrew Mitchem here, the owner of the Forex Trading Coach video and podcast number 252. Why you need to adapt to the current market conditions This video and podcast is all about the current market conditions and why you need to adapt to the current market conditions to be a good trader. Why? Well, market conditions are changing all the time. I've been trading for 14 years, and I've seen all sorts of conditions, but the problem that you have is you don't really know what market you're in right now until a little bit later, until hindsight. The problem is with people, and it's a common problem. Does your system only work in trending markets? The problem is, with a lot of people, is they rely on a system that relies on only working on trending markets. To give you an example, a lot of systems that use moving average crossovers, let's say. A lot of those, when you see pictures of systems like that online, you'll see massive up trends or massive down trends and line A crosses over line B. You see this enormous trend, and everybody goes, "Wow, fantastic. Look at all that money we made." That's really good, and that does work in the strong trending markets. The problem is you never know when that trend's going to begin or end. A very quiet week – Thanks Giving Day in the US Have a look at the current market conditions that we're in right now, just this current week. We've had a very, very quiet week so far, and today's Friday, so I'm not expecting a great deal to happen today. Why? Well, it's thanksgiving day in America, and the market is very, very quiet. Yesterday, there was a public holiday in Japan, and going into Friday in America, it's black Friday, so again, not expecting too much to happen. If you have some form of breakout system, if you have some form of trend strategy, right now, you will be struggling because more than likely, your system will be taking lots and lots of trades that are getting stopped out more than likely. Candlesticks and candle patterns That's why I always comes back to candlesticks and candle patterns to me as a trader, which is why I love trading them, as simple as that. Now, not every trading pattern and not every candlestick has equal weight and value. That's why you need to analyse they're all at, what part of the charter are you in right now. Certainly, when you understand candle patterns, when you get range band markets and the candles are going sideways, then, there's nothing there to trade. Live webinar with clients Another example. Yesterday, I held a live two-hour webinar for my clients in the European session on the Thursday morning session, Europe time. There were no trades. I couldn't see a single trade in the entire two hours that I took. That is part of the lesson. Don't trade just for the sake of trading. There were no setups. I couldn't take anything. Account is up +2.21% for the week so far in 4 days This entire week, the first four days of the week, I've not posted my Friday trades yet, but the first four days of the week, I've only taken three trades on the daily charts. However, going down to the shorter timeframe charts because it has been quite a quiet week on the shorter timeframe charts, I'm up 2.21% for the week so far in four days because I've taken a lot of shorter timeframe one in four-hour charts trades this we...

Podcast: What Prevents Traders From Being Successful? In this weekly video: 00:27 – 4 Live Webinars helping traders 01:12 - The Top 3 problems that traders have - #1 No Strategy 01:51 – How to create a strategy that works for you 02:37 – #2 Not understanding Money Management 03:37 – #3 Lack of time to trade 04:26 – Look at the close of a candle 05:00 – Trading D1 and W1 charts when I travel 05:25 – 1 Day Cyber Monday Sale on Monday 27th November – Register using the link below I'm going to explain the top three problems that are preventing Forex traders from being profitable. Let's get into it right now. Hi traders, Andrew Mitchem here, the Forex Trading Coach. Video, and podcast number 251. I thought it's such a beautiful day here, I would come outside and make a video. 4 Live Webinars helping traders What I wanted to talk about today was the feedback that I received from a survey that I sent out recently to 35,000 Forex traders all around the world. Had a lot of replies back, and as a result of that, I've put together over the last two weeks, four live webinars. They're about one hour. Well, last night's one was about one and a half hours, because we had so much information to cover. I'll put a link to that last video below this video and podcast also, so you can go and watch that. Also, on that webinar, I explained how I'd made a 3% gain, or just over a 3% gain in the last week on live account. I shared with the people on that webinar, some of the trades that I'd taken. The Top 3 problems that traders have - #1 No Strategy The important thing that I want to cover now, is to explain the top three problems that the people telling me that are preventing them being profitable. Number one, was people do not have a strategy. As I said on the webinar, that's really concerning. There's all these thousands and thousands, hundreds of thousands of traders out there, small retail traders, putting hard earned cash into their Forex account, and most of you don't have a strategy that is proven that all of you even believe in yourself. That's really not good when you think about it. How to create a strategy that works for you I was explaining information about how to create a strategy that works for you, about how when I started trading, it took me four years of going around in circles before I really got somewhere. I stripped everything off my charts, I started with understanding candlesticks, and candle patterns. I mentioned that I just use five candle patterns right now in my trading today. My trading style's not changed in the last 10 years, because it's profitable, and it works in all market conditions, or currency pairs, or time frames. It's really important that you have something like that as well, something that you know will work through all conditions. Very, very important. It's all well and good having something that works in trending markets, or range-bound markets, but you don't know when the market's going to do that. Understanding a strategy that works for you, is a vitally, vitally important. #2 Not understanding Money Management The second point that we talked about was the lack of understanding of money management position sizing. It's crucial, because you can have, as I explained in the webinar, a 90% winning system. A 90% win rate. I said to people, "Look, if you come to me with a 90% win rate, would you say you had a good system?" Most people were saying, "Yeah, of course. 90% is fantastic." Winning nine trades out of 10. The problem is a 90% win rate doesn't actually mean that much if you do not understand money management correctly, because the problem that a lot of people have is that one trade that loses every so often, will wipe out all the gains they've just made, plus more. Understanding money management for getting pips, understanding small risk per trade, and high reward to risk was really important, so we'd covered that as well.

Podcast: How Many Forex Pairs Should You Trade? In this weekly video: 00:22 – Survey results from 35,000 traders 00:58 - I focus on the main 8 currencies 01.24 – This week was a prime example 02:41 – Do not limit yourself to just one FX pair 03:25 – Give yourself the best chance of seeing a high quality trade setup 03:58 – Live and FREE webinars – 2 sessions this week for you to attend 04:34 – Click on the link below to register for a webinar How many currency pairs should you look at trading? Let's talk about that and more, right now. Hi Forex traders, its Andrew Mitchem here, the Forex Trading Coach. Video and Podcast Number 250. Survey results from 35,000 traders I want to talk about how many currency pairs should you look at. The reason I want to discuss that on today's video and podcast is because as you know I have surveyed over 35,000 Forex traders recently. One of the common themes that came through from peoples' answers was, • I'm not sure how many trades I should look at? • How many currency pairs should I look at? • Should I focus on just one currency pair and get that right, or • Should I look at multiple currency pairs?" For me, you definitely should not just focus on one currency pair. I think you should give yourself a good range of options. I focus on the main 8 currencies I've always focused on the main eight currencies, that is the US Dollar, the Euro, the Pound, the Aussie, the Kiwi, the Canadian, the Swiss Franc, and the Japanese Yen. Then combinations of those eight. For example, I might look at the Canadian/Yen, or I might look at the Aussie/Swiss Franc, or of course the major pairs as well. But combinations of those eight. This week was a prime example Why? Well, this week has been a classic example of why you should look at not just one pair. Let's take the Australian Dollar for example. Go and have a look at your charts for the first three days of this week; so Monday, Tuesday, Wednesday of this week. The Aussie Dollar against the Canadian Dollar has moved 35 pips. That's it. Absolutely awful trading conditions. Why would you focus, say, on just one pair? If you focus just on the Australian Dollar currency, well go and have a look at the Euro/Australian Dollar pair since last week. If you look at last Thursday, on the daily chart, the currency pair has moved down, up, down, up, down, up, down, up. Day after day. Every day through to today, which is now Friday the 10th of November. So have a look on the daily charts; it's closed bullish, it's closed bearish, it's closed bullish, bearish, all the way through. It's basically done this up, down, up, down since last Thursday, changing every day. How can you trade currencies like that? You just cannot do that. There's just nothing there setting up as a suitable trade example. Do not limit yourself to just one FX pair By limiting yourself to just one currency pair, or even just one currency, you're really doing yourself, in my opinion, a big disservice. Go and have a look at around ... For me I have about 27, 28 currency pairs that I scan through the charts. On a daily chart, or even on a weekly chart and daily chart, it really doesn't take very long. It's a five, 10 minute job once a day on the daily charts to scan through. You can very easily train your eye to see whether there's anything there at all at the close of the daily chart 5:00 PM New York time. Then similar when you go down to shorter time frames, it's very, very easy to scan through trades to see if there's anything suitable. Give yourself the best chance of seeing a high quality trade setup Give yourself the best chance of finding something. Doesn't matter where you live. I live in New Zealand, I don't trade the New Zealand Dollar specifically. It doesn't matter. I might trade the Canadian/Swiss Franc, as an example. Nothing to do with New Zealand. It doesn't matter. If the Canadian/Swiss Franc is showing a good setup,

Podcast: How I can Help Solve Your Forex Problems In this weekly video: 00:22 – 4 Live Forex Webinars 01:04 – Specific trading information 01:14 – Surveyed 35,000 Forex trader 02:22 – My solutions to the top problems 02:52 – Take the survey and register for a webinar – click on the link below I'm going to talk about how I can help you solve your Forex problems. Listen up, I've got some great news to share. Hi, Forex traders, Andrew Mitchem here, the Forex Trading Coach video and podcast, number 249. 4 Live Forex Webinars Got some really exciting news to share with you. I'm going to be holding four live webinars very shortly and on those webinars, I'm going to be doing everything that I can to help you overcome your biggest Forex problems. The webinars are two next week on the 7th and the 10th of November, and then two the following week. They're going to be held at various times around the clock, so it doesn't matter really where you live in the world, I'm sure one of those webinars will suit you to be able to give us an hour of your time and attend one of those webinars. They are going to be live. They're not going to be filled with lots of fluff and lots of sort of information about what trading is. We're already assuming that you know that. Specific trading information It's going to be specific helpful information showing live charts as well during the webinar to help you overcome your biggest Forex problems. Surveyed 35,000 Forex trader Now, last week I have surveyed 35,000 Forex traders and I've asked those people and you may be one of those people, now you've probably received my e-mail. What are your biggest Forex problems and to list them. • The top problems are these, no particular order. • I don't have a proven trading strategy. • I don't know what are the best indicators to use. • I'm not sure which currency pairs are the best to trade. • I don't have enough time in order to trade. • I'm confused, I really don't know how to trade Forex. • I've been trading for a while but it's just not working for me. • I don't understand money management and position sizing. • I don't know where to place my stop loss or profit target. • I don't understand which timeframe charts I should be trading. • I'm at work when the markets are most active • News announcements, how should I trade them. Those are the topics that I've given people the option to say like which are your biggest problems and I'm going to help address those. As mentioned, these are going to be live webinars. My solutions to the top problems You're going to have the opportunity to hear my solutions to those problems or some of the top problems during the webinar, and then at the end we'll probably have 15-20 minutes to answer some questions and as mentioned, I'm going to be showing live charts on those sessions and doing my best to explain how you can realistically in a practical and easy to do manner, how you can overcome those top Forex issues. Take the survey and register for a webinar – click on the link below Now if you haven't registered for one of those webinars or if you haven't taken the survey yet, all you need to do is simply click on the link below this video and I look forward to helping you overcome your biggest Forex challenges and problems, and I look forward to seeing you on one of those four live webinars either next week or the week after. Have a great weekend. I'll catch you this time next week.   Check out my suggested Forex Brokers! Click here!

Podcast: Making More Money In Less Time In this weekly video: 00:32 – What you can do as a trader make more in less time 01:15 – Use Set & Forget and help remove emotions from your trading 02:50 – The great thing about Set and Forget trading 03:23 – The dangers with over-managing a trade 04:05 – I took 3 trades live on my webinar and they made great returns 05:23 – The best way to make more money in less How to make more money in less time. Are you interested? If you are, listen up. Hi Forex Traders, Andrew Mitchem here, the owner of the Forex Trading Coach and Video on podcast #248 and I'm gonna talk about how you can make more in less time. Of course everybody's interested in that and that, as traders, is basically what we're aiming for. What you can do as a trader make more in less time So there's several things you can do initially that I'll talk about and then I'll talk about the main point. As an example, you can trade the longer time frame charts, which is predominately what I do myself and what I teach. The other thing you can do is you can look at taking a trade only upon the completion of a candle and again, that's the way that I trade myself. So when a candle closes, that's when I'm looking at taking a trade. What that means is, you need less chart time because you know when a one hour chart candle's gonna close or a four hour or daily chart candle. You know when that's gonna close so those are the times that you need to be at your computer having a look at potential trade set ups. Use Set & Forget and help remove emotions from your trading But, the other thing you can do and that's what I want I wanna talk about on this lesson is using something called “Set and Forget”. It's very, very easy to do and it's something that unfortunately a lot of traders do not do. If you want to make more in less time, set and forget is the answer. So let's talk about that. The way that I like to trade is I like to remove emotions from my trading as much as possible because psychologically, trading does affect you. If you're on a demo, you probably haven't experienced that too much yet but when you go live, it's real money, it's happening now, you're making dollars and cents or pounds or yen, whatever you're trading, but you're making money now in real time. You can get very excited when you make some good profitable trades. You can get very down when you have some losing trades because it hurts. You're losing money. The way to try and eliminate that is use what I call set and forget. You see a trade set up, you know exactly how you're gonna enter the trade, whether it be a retracement order using viral sell limit orders like I do, you can use market orders, stop-orders, whatever it is that you want to do as part of your strategy. I can certainly help you with that but whatever you want as your strategy. You know what type of technical set up you're looking for. You know when you're gonna enter, where you're gonna enter, and where you're stop-loss and profit targets are so therefore you know your position sizing, you know you're total risk. That's all under control. But the problem is, you still need to allow that trade time to do its thing. The beauty of set and forget is. The great thing about Set and Forget trading If you have all those things under control, the set amount of risk and you have a strategy that works, you know that probability suggests that if this trade is a good trade set up then the likelihood of the stop-loss holding and the profit target of being hit up quite high otherwise you wouldn't have taken the trade in the first place. Set and forget. What that means is you put the trade on, you have confidence in your ability, you have confidence in your strategy, and you leave the trade alone. Less time, less emotions, less fiddling with the trades. The dangers with over-managing a trade How many times have you seen trades that you've sort of over managed and yo...

Podcast: Why I Am Not a News Trader In this weekly video: 00:27 – The charts tell me everything I need to know 01:08 - News trading confuses many traders 01:40 – Real trading examples 03:00 – Daily charts from Wednesday 18th and Thursday 19th October 2017 04:20 – 10 hours after my trades were taken, the news was announced I'm going to talk about why I'm not a Forex news trader. Let's get into that and more right now. Hey, traders, Andrew Mitchem here, The Forex Trading Coach at video and podcast number 247. I want to talk a little bit about a controversial topic. The charts tell me everything I need to know It's all about why I am not a news trader. I'm a technical trader. The charts tell me everything that I need to know, and I've got some great examples to share with you. But first of all, news trading. Now, in the past I've had some people, some well-known traders and some well-known trading companies, criticize me quite heavily for saying, I'm not a news trader, and I'm a technical trader only. Now, I'm aware of the news, I'm aware of the fundamentals, I'm aware of the news results, but I don't trade specifically the news. And the news announcements, they don't influence my trading. Why? Because charts tell me everything that I need to know. News trading confuses many traders And I believe that in many cases, news trading actually confuses people, whereas if you understand charts, you understand the technicals, what the charts are showing you and where the market is moving, that in my opinion is certainly for me and for my clients, is certainly the most profitable way for us to trade, and enjoyable trading method, because we're not set watching the charts all the time, and we don't have to sift through all this information of different fundamental announcements. Real trading examples And so I want to give you some examples. So, today is Friday, the 20th of October. Yesterday, the 19th of October, at New Zealand here, we had a new government formed, and it was formed last night my time. But ten hours prior to that announcement, I announced on my membership site, and also freely available on my website, so you can go and have a look at my daily post and daily analysis for Thursday, 19th of October. And you'll see on there that I was looking at selling quite a number of the New Zealand dollar currency pairs. And I specifically said to clients, I'm selling the New Zealand dollar, Canadian dollar, and also we were buying the Euro against the New Zealand dollar. And the reasons have been purely technical. The charts were showing some fantastic trading setups. We had the entry and exit levels, and before that news announcement even came out, before that government formed coalition, partnership between three different political parties came out, we'd already been filled on those trades, and we'd already been taken out of those trades for full profit. Made a fantastic profit on both positions, Euro, New Zealand, and the New Zealand Canadian dollar. Daily charts from Wednesday 18th and Thursday 19th October 2017 So go and have a look at the charts. Go and look at the setups, the daily charts of what it was showing, at the end of Wednesday, the 18th charts, because of course, that's what we were looking at at the time. The big sell-off on the New Zealand Canadian and the big upward movement on the Euro New Zealand, the Euro New Zealand moved about 420 pips, and the New Zealand Canadian moved at about 190 pips. So we'd actually pick that in advance of that happening, and that's the important thing. You know, it's all well and good to say, "Yes, I know that the New Zealand Labour Party go in, and that's bad news for the New Zealand economy." And of course it is, for me personally as a national supporter, it's really bad news. But it was reflected in the market that the market did not want labour party to get in, and therefore has weakened the New Zealand dollar.

Podcast: Trade what you see not what you think In this weekly video: 00:23 – The traders’ problem 00:41 - Trade what you see and not what you think 01:35 – Information overload and confusion 02:21 – The charts tell me where the market is moving – 2 trade examples 02:58 – Trade makes 3.2:1 reward:risk in 5 hours on a live webinar – here are the trade results https://www.screencast.com/t/s2oFlIneC 03:37 – Fundamental news is trading what you think Do find that once you place a trade, the market goes the other way? If that's you, you need to listen to this. Hi Forex traders, Andrew Mitchem, The Forex Trading Coach video and podcast number 246. The traders’ problem We all seem to have this problem, we place a buy trade, the market goes down. We place a sell trade, the market goes up. If you have problems with your trading, getting on the right side of the market, if you have that issue, you need to listen to what I've got to mention here. Trade what you see and not what you think To me, as a Forex trader and someone that's been trading as a technical trader for 14 years, you have to trade what you see and now what you think. It's a really important phrase. Have a think about that, trade what you see on the charts, and not what you think is going to happen. Because the charts tell you what's actually happening right now. Whether I think the Euro or US is gonna go up or down, doesn't really matter. What's happening on the charts? Are we seeing bullish patterns, are we seeing bearish patterns? Are we seeing an uptrend followed by a pullback, and then an opportunity to get along again? Are we seeing the market moving flat? What's the Euro doing against other Euro currencies. As an example, the Euro against the Yen, the Euro against the Pound, against the Aussie, against the Kiwi, against the Canadian, et cetera. You have to put all this together, but it's about trading what you see on the charts right now, is the important thing. Information overload and confusion People get very very confused with information overload. It happens in all forms of lives, but trading is no different. You have confusing and lagging indicators, people, in my opinion, read too much into the news and the fundamentals, and people get confused on different time frame charts with one time frame saying the market's moving up, the other time frame saying the market's moving down. It becomes analysis paralysis problem. What do you do? A lot of people get complete confusion and they either random guess something, or they freeze, they don't take anything, but in the end you can almost be certain that as soon as you press buy, the market will move down. That's just an issue that so many people have. The charts tell me where the market is moving – 2 trade examples For me, the charts tell me what I need to know because that's where the market is moving, that's where the big players are pushing the market right now. I'll give you some examples. Just last night on my client's live webinar, I took two trades, they were both on the 12 hour charts, which I have the ability to trade on MT4, sort of a clever bit of software that I got. One was a sell trade on the Euro New Zealand dollar, the other was a sell trade on the Euro Australian dollar. The Euro Aussie's still open, behind me here, and it's going really well, it's up at around 1.8 to one trade, or .9% account gain, with half percent risk. Trade makes 3.2:1 reward:risk in 5 hours on a live webinar – here are the trade results https://www.screencast.com/t/s2oFlIneC The Euro New Zealand in five hours after I placed the trade had hit the full profit target. It made an amazing 3.2 to one, reward to risk. By trading half of one percent risk per trade, that was an incredible 1.6% account gain that I made, and so did all my clients who followed the same trade with half percent risk, and 1.6% account gain in five hours by just placing that one trade on the close ...

Podcast: The Importance of High Reward:Risk In this weekly video: 00:32 – Understanding high reward:risk trades 00:55 - Letting losing trades to get even bigger 02:00 – Reward:Risk of 3:1 – what does that mean? 02:58 – Is a 90% win rate a good system? 04:00 – Growing your account 05:10 – Further trading help for you I'm going to explain how understanding the reward to risk ratio of your trades can dramatically change around your trading results. Let's get into that and more right now. Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach, video and podcast number 245. I'm gonna talk about a very, very important subject. It's all about understanding how important it is to have correct reward to risk. High reward to risk trades. It is something as simple as this can dramatically change around your trading results. Understanding High Reward:Risk Trades If you do not have high reward to risk trades, the probability is you'll be losing money. Let's talk about that. When you think about the psychology behind trading, why is it that so many traders, when they have losing trades, they're happy to let those losing trades get bigger and from time to time. Letting losing trades to get even bigger People will move the losses further away even and allow that stock loss or that trade, that's losing, to become even bigger loss. You flip it round the other way and why is it that so many times, when traders are in a profit, just a small profit, they want to start fiddling with the trade, they want to start closing the trade, partial closing, closing all of it, locking in profits, et cetera. It just doesn't add up. When you have a trade that's losing, people are happy to let it lose and let the loss get bigger. When it trades the right way and you're picking the market the right direction, everybody wants to click their mouse and close their trades early. When, in reality, you should actually let that trade get to its full profit target because you picked a good trade. It's a very odd, but very common problem. Think of things this way, always understand reward to risk. Most people actually say risk to reward, whereas you notice I'm saying reward to risk. Reward:Risk of 3:1 – what does that mean? Let's say for the ease of numbers, that our trades have a three to one reward to risk ration. What does that mean? It means, let's say the trade is risking $100 but it's making three times that if it gets to its profit target. It's making $300. Think of it this way as well, let's say I have two losing trades and one winning trade. I'm still profitable. I have a 33% success rate, which you would say, "Andrew, that's terrible." But think of it this way, I'm losing two trades at $100 so a total of $200 lost but my next trade hits the full profit target for a $300 gain. Net result, I'm $100 up. Also, if someone says to you, "I have a 90% win rate," it doesn't mean to say they're making money. You see, if you're taking lots of small gains or break even trades, tiny gains. Is a 90% win rate a good system? We have one or two big losses, then those losses completely outdo all those small gains you've got. The win rate really is not that important. What is important is having high reward to risk trades. For me, as a trader who prefers the higher timeframe charts, the higher timeframe charts and I mean something like over a one hour chart, four hour chart. If you've got non-standard MT4 charts like I can when I'm trading six, eight and 12 hourly charts, or daily charts or weekly charts or monthly charts, generally the higher the timeframe the trade that you're taking, generally the higher reward to risk of that trade can be. Spread becomes less of an issue and various other things that you generally get somewhere between a two to even a five to one reward to risk ration across those trades. If you do that, you can see how by understanding probability, by understanding reward to risk ratios,

Podcast: How to become a good trader quicker In this weekly video: 00:24 – How I can help you shortcut the learning process 00:44 – Brand new to trading Forex? 01:13 – Frustrated with Forex and it’s not working for you? 01:38 – Why my course will help you learn quicker 02:32 – A live 2 hour weekly webinar – watch me trade 03:28 – Watching and learning from a trader in real time is invaluable 04:03 – How much is that worth to you? 05:00 – Get on board with us and shortcut your learning process How can you shortcut the learning process to becoming a good Forex trader? Let's talk about that and more right now. Hi Forex traders, it's Andrew Mitchem here, the Forex Trading Coach Video and Podcast #244. How I can help you shortcut the learning process I want to talk about how I can help you to shortcut the inevitable otherwise long process of learning how to become a good Forex trader. I get traders join my coaching course for a variety of reasons. I'll give you the two ends of the spectrum. Brand new to trading Forex? I get clients who are brand new to trading. People who have not really had any experience in trading, but they want to learn the right way first time. They value their investment in themselves, they value knowledge, they value education, and really they want to learn the right way first time without wasting all these hours and all this money by going through the process that the vast majority of people take. That's one end. Frustrated with Forex and it’s not working for you? The other side of the spectrum would be the frustrated people, people who join the course out of sheer frustration. They've been trading for a long time, bleeding money, pulling their hair out, and it's going nowhere for them. They're about to give up in trading, and nothing works. So you get those two ends of the scale, and everybody else in between. Why my course will help you learn quicker Let me give you some tips of why I believe my course will shortcut the learning process for you. Each day ... This is real trading things, because on top of the strategy I'm talking here, you get the overall strategy, and you have to have a strategy that works across time frames, any time frame. Doesn't matter where you live in the world, it doesn't matter what currency pay you trade, et cetera. We have that. On top of that, each day of the trading week I post specific trades in advance of the market moving so you can look at your chart, using the software that I've got behind me here which you'll have a copy of as a client, and see what I'm taking on the daily charts and why. In advance of the market moving. If the trade is profitable, fantastic. If it's not, it's not. But it's about the process of learning to train your eye to see what we're seeing and why. A live 2 hour weekly webinar – watch me trade On top of that, each week we have a live 2 hour webinar that you can attend. It's basically a recording on one of my screens behind me here, and I'm trading on live accounts and you can see me trading, talking for two hours about what I'm looking for at that time and why. To give you an example, I received an email just this morning from a client called Alf. Alf's been with me just over one week. I'll read you his email, it's a quick email, "Andrew. Thank you for the webinar last night. I did not participate, but I sat in the background taking it all in. It soon became apparent to me as to why I am losing trades and money. I'm taking too many risks. It became apparent to me that everything had to line up before you would take a trade. It was a bit of an eye-opener for me, but I've taken it on board. Thank you once again, Alf." That just came through to my email this morning. Watching and learning from a trader in real time is invaluable To give you some perspective there is that Alf has seen someone trading, going through the thought processes of what I'm looking for,

Podcast: Waiting for an “A” Grade Trade Setup In this weekly video: 00:27 – Wait for the A Grade trades 00:44 - Too many trades over trade 01:21 – Be patient and wait 02:04 – There are no prizes for trading more 03:29 – Have probability on your side as a trader 03:52 – Freely available helpful trading information on my site Why should you wait for an A grade trade setup? Let's talk about that and more right now. Hi, Forex traders. Andrew Mitchem here, the owner of The Forex Trading Coach, video and podcast number 243. Wait for the A Grade trades I want to talk about a subject that will almost certainly affect you and it's about overtrading, and it's about why you as a Forex trader should wait for an A grade trade setup. Whatever your rules, whatever your strategy, whatever your criteria, it's really important that you wait for that A grade setup. Why? Well, I just see so many traders who overtrade. Too many trades over trade They feel that they have to be in the market all the time. They're constantly watching their charts. They're looking for new trade setups. They're always feeling that itch, that mouse click, that computer keyboard button itch to take a trade. A lot of people feel that if they call themselves a trader whether it'd be just a part-time hobby trader or more than that, they feel they have to be in a trade, have to be in the market otherwise they're not doing anything. Unfortunately, it's not good for your long-term longevity and your long-term health as a Forex trader. Be patient and wait You see, it is really important that you are disciplined and that you're patient and you wait because if you don't, all you're doing is overtrading. You're getting more and more stressed. Trades are likely going wrong. Your win rate is going to be low. You're going to get angry at the market. You're lacking that discipline, that self-control and then you start blaming other people. Things go wrong. You're losing more money than you're making. You then look for another strategy, another robot, another magic pill and the cycle just keeps going round and round and round. I'm sure you understand what I mean. In order to do that, it is really important that you are disciplined and you do wait for your A grade setup because I have a phrase that I say to my clients. There are no prizes for trading more There are no prizes for trading more. What that basically means is just because you take more trades does not mean to say you're going to make more money. In fact, it's generally the complete opposite. The only thing that certainty about taking more trades is all you're going to do is take more money out of your account and put into your broker's account. Really, we don't want that, do we? After all, as traders, we're more interested in what's in our account than we're feeding to the broker all the time in entry fees and in spread fees, all that type of thing. It's not good. You do not have to be watching your charts all the time. You do not have to be feeling like you're taking trades all the time because long-term that's not good for you. You have to have your trading that's enjoyable and it has to be realistic to accomplish. Sitting, watching your charts 24 hours a day, seven days or five days a week is not realistic. Sitting, watching your charts 8, 10 hours a day is not realistic. It's not enjoyable that's for sure. You certainly can't travel. You certainly can't do that over and over again. Almost certainly, you'll burn yourself out. You just have to stop or you just lose your account and you'll be forced to stop or you'll blame the market. You'll say that Forex doesn't work. It's a scam. It's a gamble. The broker is against me, all these things that people will for whatever reason say and that will be your conclusion. Have probability on your side as a trader What I'm trying to get across, my point is be disciplined. Be patient.

Podcast: Learning To Trade Through Trial and Error In this weekly video: 00:30 – Why do people learn through trial and error? 01:30 - It seems and easy and low cost way learning 01:45 – The best way to learn how to trade 02:20 – Feedback from 2 clients – amazing trading results 03:23 – Those who invest in themselves have a high chance of being successful 04:50 – Contact me if you’d like more information Are you learning to trade the Forex market through trial and error? If that's you, listen up; I've got some interesting news for you. Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach Video and Podcast Number 242. I want to talk about a subject that affects the vast majority of Forex traders. Why do people learn through trial and error? It's all about why do people learn through trial and error? Because to me, it's undoubtedly one of the best ways of losing money. Absolutely no question about it. We've all done, I've done it. I know exactly where you are and what your thought process is if you are going through various websites, forums, buying robots, buying trading systems, buying all sorts of different things, indicators et cetera. If you're constantly buying new things looking for that answer, you're constantly search for the next shiny object, the holy grail of trading. If that's you right now, you are without doubt doing your best to waste your money and your time, and to get massive, massive frustration and likelihood you're not going to get to the result that you want. Why do people do it? It seems and easy and low cost way learning Well, I suppose people see it as it's easy, or it's a low-cost way of learning how to trade. What I can assure you is that the likelihood of you losing money, and quite a lot of money, is very very high. The best way to learn how to trade The flip side of that, the surest way of trying to become a profitable trader and to understand what's happening in the market to make money, is to seek a mentor. If you look at that cost of investing in a course or seeking a mentor as an investment in yourself to save you time in the long run, and to save you lots of money, and to make you money and to save all that frustration and headaches and heartache and likelihood of giving up. If you're trying to save all of that, then invest some time and some money into a good course. Because it really will help you. Feedback from 2 clients – amazing trading results I'd like to share with you two emails that I've received; one this morning and one yesterday. The one that I received this morning is from Branin, who lives in America. Branin said, "I wanted to let you know I'm now up 15% since I purchased your course." Branin only started about a month ago, so 15% up already. The other email which was from John, who now lives in Katar. I think John's originally from Australia. He said that his results since he joined me, and he joined me in 2014, "live trading results in 2015 I made 31.6% return. 2016 I made 22.3% return. So far 2017 up until September," and it's now the 15th of September today, "35.9% this year. It's been a really good one for me so far." 31, 22, and almost 36%. Live trade results there. Those who invest in themselves have a high chance of being successful When you get feedback like that, it's really really good to see because what it's doing is it's showing that people who do invest ... Yes some upfront money, yes they're investing some cash into a course, yes they're investing their time, but it really does work. There's no better way of learning a proven strategy from a mentor who's trading all the time. Just yesterday I had a live webinar for my clients. We were taking trades on there, there were people typing in trades that they've taken themselves. Some good, some not so good. That's trading. But we were learning from those trades and taking trades in real time. Every day of the week,

Podcast: How Much Do You Want To Be A Good Trader? In this weekly video: 00:22 – Are you committed to learn how to trade 00:50 - The instant fix and next shiny object 01:35 – You can research for years 02:00 – Freely available software, webinars and information 02:55 – Getting a coach to progress quickly 04:20 – Invest in a good instructor 04:39 – A new review on Forex Peace Army 05:43 – We all have the same amount of time How much do you really want to be a good Forex Trader? Let's talk about that and more right now. Hey traders, it's Andrew Mitchem here. The Forex Trading Coach video and podcast number 241. Are you committed to learn how to trade Today I want to talk about your commitment; how much do you really, really want it. I mean really want it. You see, I get asked all the time from people, "I want to become a good trader, Andrew. I'm going to join your course. I'm going to become one of your best students. I'm going to do this full time." All these sort of promises that come all the time. I hear it all the time. The instant fix and next shiny object The problem is today, the world that we live in, everything is so accessible. You want a song, you download it. You want a movie, you search for it and you download it. Everything is instant. Everybody's very quick to move on to the next shiny object, the next thing that's going to be instant. No one is willing to put a bit of time and commitment and effort into something that's really good. My question is how much do you really, really and I mean really want to become a good Forex trader? That's something that you really need to question yourself about seriously if you wish to continue in this market. You can research for years You can spend years and years and years doing all this research online following forums and different threads and different ideas and things like that and going alone. You can do that. But you have to think of what's your time worth if you like doing that? Because the likelihood is you're not going to get very far very quickly. Then you get the other side of the people like I mentioned at the beginning, people that come to me and say, Freely available software, webinars and information "Hey Andrew I'm going to do this and I'm going to commit and I'm going to be fantastic and I'm going to do everything that you say." I offer on my site, freely available to people, I offer advice if people email me. I offer free trading software, free calculators, free webinars. Even a free mini course. It's amazing when I go back and look at the number of people that join those, and I go and say to them a few weeks later or a month or so later, "Hey how's it going? Do you need anymore help?" And people go, "I'm not trading anymore," or "I've moved on to someone else's ideas," or "I've got some other software or other robots," and things like that. Then it becomes, how much do you really want it? I'm giving you all this information here, and it's great valuable information. It comes down to your commitment. Getting a coach to progress quickly I'll give you an example. This year, I've taken up squash. I started around the end of January and we're now early September. I'm now committed to playing squash; I'm playing about three times a week. I've bought the equipment, a nice racket, good shoes. I've got myself fitter. It's helping with my fitness. I've joined a club, I've got the full membership, I've got practice membership. We're playing different competitions. Things like that. I'm also getting some coaching. Why? Because I've reached a level like after the first few months, and I thought to myself if I want to do this properly and enjoy it and get better and better, I can only get so far by myself. I now need to get some coaching from individuals, learn how to hit the ball properly, learn how to move around the court, watch the ball, read the opponent, all those type of things which I need to do to get bett...

Podcast: How Bollinger Bands Help Me Trade In this weekly video: 00:28 – Selecting profit targets 01:20 - I use Bollinger bands to help me trade 02:04 – Trade when the conditions are favourable 02:40 – Trading reversal patterns 03:54 – Trading Continuation trades 04:29 – Teaching the whole package 04:55 – Sell trade on the EUR/CAD off the middle Bollinger band 05:50 – Look for the Bollinger bands to be widening We need to give the trade room to move. Let's talk about that and more right now. Hi Forex Traders, it's Andrew Mitchem here with The Forex Trading Coach. Video and Podcast number 240. I want to talk about giving the trade room to move. What does that mean? Selecting profit targets Well, a lot of people are very quick to say, "I'm going to place a trade here and I've got my stop-loss here." But a lot of people have difficulty with profit targets. What I like to see is I like to see the ability on the chart as a technical trader for the trade to get to its profit target with the least amount of support or resistance in the way of the trade depending on whether we're buying or selling. If we're buying, we want to see as few resistance levels like reasons why the trade's not going to hit a level and bounce. Why it will get to its profit target. If we're selling, we want to see as few support levels, like as few areas below where the price is right now where it might bounce. We want to see as few of those as possible. We want to give the trade room to move and allow it to get down to our profit target if we're selling with as few support areas in the way as possible. I use Bollinger bands to help me trade To do that, I like to use support and resistance levels but I also use Bollinger Bands. I'm going to talk about Bollinger Bands and how I use them. Bollinger Bands are quite fascinating if you can use them in the right way. They really do aid your trading. As a technical trader, I look at Bollinger Bands and I'm looking at how they're moving with the current price. If they're level, or they're flat, or they're coming together the upper or lower Bollinger Band, that tells me that there's very little price action, or there has been good price action and now it's over because the bands are getting tighter together or they're parallel. When that happens, trading conditions are not good right now. It's not a great time to be trading. Trade when the conditions are favourable What you need to do is to be able to trade when the price starts to move; when you get decent, active conditions in the market at the current time and the Bollinger Bands start to widen. What that means is that there is good price action right now. To give you a few examples of how I trade. As you know, I like either reversal trades or continuation patterns, two quite different patterns. Continuation patterns are probably safer, reversal patterns look really good and really dramatic on your charts but a little bit high risk. Trading reversal patterns If I see a reversal pattern, and I'm seeing a bearish reversal pattern, I like to see that at or near the upper Bollinger Band. If I'm seeing a bullish reversal pattern, I like to see that at or near the bottom Bollinger Band. Then what I'm looking at doing is I'm looking ... Let's say we're taking a buy trade. We're near the bottom Bollinger Band, I'm seeing a good pattern to go long, a reversal of the previous downtrend. What I'm looking at doing is I'm looking for my profit target to ideally be before we need to break through the middle Bollinger Band. The reason for that is the middle Bollinger Band is also the 20 period moving average, and a lot of people rightly or wrongly use moving averages as support and resistance levels. Because the 20 period moving average is the middle Bollinger Band, so a lot of people using that level. If we're taking the buy trade, we don't want the price to be too close to that middle Bollinger Band,

Podcast: Is Trading Forex The Same As Gambling In this weekly video: 00:21 – Forex trading and gambling 00:53 – The blame game – it’s very easy to do 01:59 – Trading is definitely not gambling 02:45 – You must understand risk and probability in order to trade well 05:04 – I’ve been trading for 14 years but it takes time 05:50 – Trading FX is one of the best things you can do Is trading Forex gambling? Let's talk about that and more right now. Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach, video and podcast number 239. Forex trading and gambling I want to talk about Forex trading and gambling. Are they the same thing? Well, I certainly don't think they are, but I've had a comment today. It's been on YouTube. A guy said, "Andrew, what you're doing is you're gambling. Trading's not real. It's a terrible thing to do. You're just a gambler." Well, a number of answers to that really. Thousands of people, hundreds of thousands of people around the world make their living from trading Forex, but there's more to it than just that. The blame game – it’s very easy to do You see, the problem is today, it's very easy to blame other people. Social media means that people can moan and groan and vent their anger and frustration very, very easily. You generally find that the people that are doing well and busy in life, and entrepreneurs, et cetera, they don't bother with this whinging and moaning and typing stuff everywhere, because they're too busy enjoying life and doing things and making money, and spending time with their family to worry about doing all this criticism stuff. As a trader, it's very, very easy if things go wrong to blame everybody else, to blame the broker, to blame the platform, to blame the robot that you've bought, to blame all these different things, to blame the indicator, to blame your strategy, to blame your coach, whatever it might be. It's very, very easy to blame other people. Or in fact, for most people, the real reason that they don't do well is through lack of learning, lack of discipline, lack of focus, controlled risk, all those type of things. Trading is definitely not gambling For me personally, it is definitely not gambling. I am the most ungambling person, if that's a word, that I know. I have never betted on horses or dogs or anything like that. I've never bought a lotto ticket, ever. I've been to a casino probably three times in my entire life, and that's briefly. I'm not a casino person, I'm not a gambling person, and Forex trading is not gambling. You have to understand that if you want to become a trader, you have to have discipline, you have to understand the market, and you have to have focus. You have to have controlled risk. You have to understand probability, all these type of things. You must understand risk and probability in order to trade well So for me, as a trader, I understand risk. I never, ever risk more than half of 1% of my account per trade. Never. Most of the time it's a quarter of a percent, a quarter to a half percent. Very, very low, controlled risk. I understand probability, I understand price action, I understand patterns, I understand strength and weakness, I understand where price might bounce, round numbers, support and resistance levels, previous highs, previous lows, pivot points. I understand what happens when we have divergence, when you have the price going one way and an indicator heading the other way. I understand I've bought oversold situations, I read the news, I'm not a news trader, but I have a look at what's happening in the news, the fundamentals. Any big news events. I trade longer timeframe charts where they have more probability, they have more information contained within a candle than a five minute chart, as an example. So, you put all that together with probability, you trade with the trend. If you take a reversal trade, you know it's a higher risk trade, so therefore you have more,

Podcast: How To Trade and Travel In this weekly video: 00:20 – Trading from Wanaka, New Zealand 01:18 - Made +1.55% in 2 days by trading and 20 minutes 02:10 – Trading and travelling – using Daily charts 03:33 – Make money and travelling without watching charts all day 04:43 – Learning how to trade by yourself 05:10 – Google “Dusky Sound, New Zealand” Would you like to trade and travel at the same time? It's the ultimate goal for many traders. If that's you, you have to listen to this video, check it out. Trading from Wanaka, New Zealand Hi Forex traders, Andrew Mitchem here, The Forex Trading Coach video and podcast number 238, coming to you from the beautiful, absolutely stunning Wanaka in the South Island of New Zealand. Absolutely amazing place here. If you've not been here just check out the scenery behind me. Absolutely spectacular. Well why am I here? Well yesterday I was absolutely thrilled and honoured and privileged to be able to fly a friend's helicopter all the way to a place called Dusky Sound, which is absolute wilderness, completely remote part of New Zealand that very few people have been to. Actually Captain Cook's first landing place in New Zealand. Absolutely wonderful place. I got to fly the helicopter in and back out again. We spent the day fishing, caught some amazing fish, blue cod, ate some of them, still have some to eat for today. Just absolutely incredible. Made +1.55% in 2 days by trading and 20 minutes Why am I telling you this? Well one, I want you to come to New Zealand and have a look at this, why wouldn't you? Number two, at the same time, and today's Wednesday, I usually make my videos and podcasts on a Friday, but I had to share with you this amazing scenery. Today's Wednesday, so on Monday and Tuesday, I've just traded ten minutes on each day and that's it and already with half percent risk per trade I'm up 1.55 percent on my account. That's just 20 minutes so far this week, 1.55 percent. It's just crazy. If you wanted to say, risk one percent per trade you'd be up what's that, 3.1 percent in two days and it can be done just by trading daily charts once a day. Trading and travelling – using Daily charts If trading and travelling is your ultimate goal, then you need to jump on board with this, you need to start looking at these longer timeframe charts. Now the trades that I've mentioned, they've all been posted on my website as well, for my clients, so every client would be up the same, just by copying. That's it, of course you can still take trades yourselves and exactly like I mentioned on last week's same video and podcast, go and check it out, number 237 (watch it here), about why would you trade the shorter timeframe charts? It kind of doesn't make sense because people who want to trade and travel, you see all these funny images online of these beautiful women sat there in a bikini on the beach on a deck chair with their laptop, pretending that they're trading. Well, if I was sat on a beach, the last thing I'd want to do is think about trading. Number one, you're going to get sand in your laptop so that's the end of the laptop, but you know, more realistically why would you be sat there on a beach trading? That basically says to me that these people who are talking about doing this, they're selling this ideal image, they're promoting you sat there trading five and fifteen minute charts, which to me is just like crazy. Why would you? Make money and travelling without watching charts all day If you want to be able to realistically trade and travel at the same time, then you need to be able to go and do things like this. Just look at it, it's spectacular. You need to be able to go and see places that you want to see whilst you are travelling but having the realistic ability to trade, so trading once a day on a daily chart, it is realistic and it can be done and it does allow you to travel at the same time.

Podcast: Should you trade the short time frame charts? In this weekly video: 00:22 – Always getting asked this question – I cannot trade the main sessions 01:20 - Go to the longer time frame charts 01:54 – Getting affected by fundamentals and spread size 02:38 – How much time to you want to spend at the charts each day? 03:23 – Trade less and make more 03:52 – Trade analysis and a 55% gain per year Should you look at trading short time frame charts? Let's talk about that and more right now. Always getting asked this question – I cannot trade the main sessions Hi Forex Traders. This is Andrew Mitchem here, The Forex Trading Coach. Video and podcast number 237. Now, I get questions every week, and probably every day and people say to me, "Look Andrew. I can't trade the US session. I can't trade the European session. I'm at work. I've got family commitments. I'm asleep then," all these kind of issues that people have and for some reason, people seem to think that they have to trade the European session, which of course if you live in America, that's no good because it's like two or 3:00 in the morning. People think they need to trade the US session. Well, for me here in New Zealand, that's two or 3:00 in the morning. I had a guy just yesterday from New Zealand. He said to me, "I can't trade the European session because that's our night time." He said, "I work nights so I can't trade in that European session, which I know is the most active time and it's the most profitable time to be a Forex trader. How do I get around it because I can only look in the daytime, which is the Asian session, and nothing happens most days in the Asian sessions so I can't trade. How do I work this, Andrew?” Go to the longer time frame charts Well, the simple answer is, go to the longer time frame charts. Go to the daily charts. You could trade five and 15 minute charts if you wanted to. My system works very nicely on those time frame charts. In all honesty, I don't trade them. It's just something that just doesn't suit my personality. I don't like sitting, watching the charts, watching the screen all the time, feeling like you have to be taking trades all the time. The shorter the timeframe you go, generally the less reliable the trading information, the technical information is. Getting affected by fundamentals and spread size You are more likely to get influenced by news events like fundamental events and widening spreads. Spreads actually become such a big part of your actual performance, because if you're trading and taking like a handful of pips maybe at like 10, 20 pips of profit, depending on the trade. You've paid two or three pips to get into that trade, all of a sudden, 10, 15% of your profit is being eaten up by the spread. If you trade longer timeframe charts such as like daily charts and your profit target may be in 80 pips, 100, 150 whatever it might be depending on the trade again, and the volatility in the market at the time. I can handle paying two or three pips because it doesn't really make a great deal of difference. How much time to you want to spend at the charts each day? The other thing is also, how much time do you really want to spend at your charts? By trading the daily charts, it doesn't matter where you live in the world. I've got clients in 59 countries all around the world, all with different jobs, different set of commitments that they have in their life, and not a single person has a difficulty replacing my daily trades. Why? Well, I place retracement orders and then also I personally place part of my position at the market. I look at the 5pm close of New York day candle, and make my analysis from there. A daily chart has a lot of valuable information in it. The fundamental news that comes out within a day generally doesn't effect it too much, because you have bigger stop losses and you can allow for those swings within the market. Trade less and make more

Podcast: How to trade in difficult trading conditions In this weekly video: 00:24 – Tough trading conditions 00:57 - Part of the bigger picture 01.35 – Don’t force trades 03:20 – US Non-Farm Employment Change Data How do we trade the Forex market when the conditions are not great for trading? Let's talk about that and more, right now. Hey, Forex traders, it's Andrew Mitchem here, the Forex Trading Coach video and podcast number 236. Tough trading conditions Right now, the market conditions are horrible for trading. Not particularly friendly. Results overall are not great right now. Three weeks ago I was reporting how conditions were fantastic, were making some excellent trades, excellent returns, and since then, the last two weeks, the last week of July, first week of August, I personally found, and so many thousands of other traders all around the world found the conditions are not great, and we've had a couple losing weeks. That happens, that's part of trading, but right now, when you're in it, it's not easy. Part of the bigger picture Let's talk about that, because it is a part of the bigger picture of being a successful trader. You have to accept the good times, and you have to accept the bad times. What can we do about that? Well, first of all, we can kind of expect that these conditions will be happening right now. We're in the northern hemisphere summertime, so a lot of the banks, the big institutions, their staff are on holiday, the volumes within the Forex market have been reduced. There's some volatility, yes, but the conditions are not great, and it's been fairly hard trading conditions. I personally have found there have not been that many what you call A-grade trade setups. Don’t force trades The danger of that is you then start forcing trades to happen, and you feel like you should be trading all the time. A number of things you can do to counteract that. One, make sure that you have low risk per trade, and always have low risk per trade. Number two, try to have multiple factors all backing up the trade at the same time. I was on a webinar with my clients just yesterday and we were talking about the trades, and some of these trades were hand-picked. We were trying to look at what would have been the best trades over the last week, and some I've taken, some clients have taken, and some were just hand-picked to be this is the perfect trade. If you waited for this, this would have been what we were looking for. Now, those kind of trades, we were finding five, six, seven, eight, nine, sometimes ten things all in the favour of those trades, the profitable, winning trades. When we were looking at trades that people had taken or I had taken that lost, there were things there that were a little bit doubtful. When you have that indecision, when you have those doubtful factors with a trade in these conditions, and you know that every year, end of July through August is going to be tough because it just is every year, when you have these conditions, you have to be really quite strict with your trades. You have to have these multiple things all showing at the same time. Give yourself the best possible chance of that trade to be profitable by putting lots of factors all in the favour of the trade at the same time. That really is the key there. It's making sure you don't trade overly, like don't trade too much, don't force trades. If there's a little bit of hesitation, a little bit of doubt of what you see in that trade, don't take it. US Non-Farm Employment Change Data Today as an example, with non-farm employment change, non-farm payroll day, I've seen four trades that I was about to trade on the daily charts and post for clients, but I've said no to all four of them. One, it's non-farm payroll day, but two, there are a few factors there. Yesterday we had the rate announcement out of the UK, and that's affected the pound. It's dropped a lot. Is that purely a news reaction,

Podcast: Which FX Pairs Should You Trade? In this weekly video: 00:25 – Which currency pairs should I look at? 00:47 - It doesn’t matter where you live and what you trade 01:11 – Don’t just focus on the Major pairs 02:00 – Stick to the main 8 currencies 02:50 – What is the best technical setup – find that and trade it 03:48 – I also focus on strength and weakness 04:10 – What has the path of least resistance? 05:50 – Use Profiles to make life easy How do you decide what currency pairs to trade as a Forex trader? Let’s get into that and more right now. Hi, Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. This is video and podcast number 235. Which currency pairs should I look at? Now I get a lot of questions saying, “Hey, Andrew, can you tell me which currency pairs I should be trading? Which should I be focusing on?” Because it’s quite difficult for people to know which currencies to look at, there is so many obviously there to look at. And it’s a thing that confuses so many people. So let me give to you some tips and some helpful information of how I go through this process. It doesn’t matter where you live and what you trade First of all, it doesn’t matter where you live. A lot of people say they live in the UK, and they say, “I want to only trade the British pound pairs.” A lot of people live in Canada only want to trade the Canadian pairs. It doesn’t matter. Just because I live in New Zealand doesn’t mean to say I just trade New Zealand dollar pairs. It really does not matter. Don’t just focus on the Major pairs The other thing to be careful of is, a lot of people also say, “Just focus on the major pairs.” Like the euro US, the pound US, US Swiss franc, Aussie US, US yen, etc., US Canadian.” The problem is you’ll notice they all contain the US, so therefore what you are trading is very heavily dependent on the direction and the strength or weakness of the US dollar at that time. So if you are generally trading the major pairs only, then half of what you are trading is focused on what the US dollar is doing. So that means you are either going to be completely right or completely wrong on the vast majority of those trades that you take if they are all correlated. So for me it’s like definitely look at some of those minor pairs and the exotic pairs, but only to a degree. Stick to the main 8 currencies I personally don’t go trading Norwegian kroners and South African rand and all that. I just stick to the majors which are the US dollar, the euro, the pound, Swiss franc, British pound, the Aussie, Kiwi and the Canadian. I might have missed one, but the main eight. And so stick to those and the combinations of each other. So as an example. I’ve taken a trade today on the New Zealand Canadian dollar. It’s fine because it’s taking two of the main currencies, and it could be like the Australian dollar against the yen, it could be something like the Canadian Swiss franc, it could be a combination of those. So personally I’d stick to those main eight currencies and combination of each of them. So it doesn’t matter where you live in the world or what your local currency is or what your account is denominated in, none of that really matters. What is the best technical setup – find that and trade it To me as a technical trader it’s all about what is showing the best setup right at the time that I’m taking the trade. Now I only have a look at a chart upon the completion of a candle. So if I’m looking at a daily chart, it’s only once a day. If it’s a four-hour chart, it’s once every four hours. And actually you probably know I’ve got some great software that I have for myself and my clients to trade. We look at offline charts which are non-standard MT4 charts and we get tremendous success on those charts and there are charts such as six hours, eight hours and 12 hour charts. Great thing about a 12-hour chart,

Podcast: Which Forex Broker Should You Use? In this weekly video: 00:29 – Which broker should I use? 01:03 - I use Pepperstone, AxiTrader, Go Markets and Blueberry Markets 02:12 – ASIC Regulated brokers 02:30 – Oanda and Traders Way are the 2 brokers I suggest for US traders 03:55 – A new Trade Copier Service is now available Which Forex broker should you use and why? It's an important subject. Let's talk about that and more, right now. Hi, Forex traders. Andrew Mitchem here. The Forex Trading Coach video and podcast number 234. Which broker should I use? Now, a day doesn't go by without me getting a handful of emails asking me, "Andrew, which broker should I choose? This broker's not been fair to me. I can't get my money from that broker. I've read bad reviews about this broker. Who should I use?" So I can't tell you actually who you have to use. That becomes your choice. What I can tell you are the four brokers who I personally use with my own funds. I've been with them for a number of years. I like them, I trust them, and they're working well and I've sent a lot of people to them. But still you need to do your own due diligence and it needs to be right for you. I use Pepperstone, AxiTrader, Go Markets and Blueberry Markets If you're in America, there are two other brokers I'll mention shortly, but the four brokers who I personally use are Pepperstone, AxiTrader, Go Markets and Blueberry Markets. Now all four of those use the MT4, MetaTrader 4 platform. All four of them have the correct 5:00 p.m. Eastern Standard Time, that's New York time, start of day charts. So they all open a new day on the charts at 5:00 p.m. American, New York time. Really important that you have that on your charts, regardless of who you choose as your broker. And what I've done is, I'll put a link below this video to the page on my site where you can go and find out more about those four brokers. If you're listening to the podcast, you can then go to forextradingcoach.com, click onto the products page, and then drop down to the Forex brokers page. So, once again, Pepperstone, AxiTrader, Go Markets and Blueberry Markets. To be perfectly honest, there is not a huge amount of difference between all four of them. All four are based in Australia. I'm based three-and-a-half hours away in New Zealand. So I'm not doing it because they are in the same country, which they're not. They're not even close to me. ASIC Regulated brokers The reason I'm using them is because all four, in my opinion, are good brokers. They're regulated in Australia, which is quite a high, strict ASIC-regulated area. And I've been with them for a number of years. You can have your accounts in various denominations. If you happen to live in Europe or somewhere else that's not close, doesn't matter, because they have servers in different countries around the world. Oanda and Traders Way are the 2 brokers I suggest for US traders If you are in America, then the two brokers who most of my American clients use are OANDA and Trader's Way. And with all six of those brokers, I'm not endorsing them. You will find negative comments about all of them. Wherever you go, you're always gonna find people who get grumpy and get upset and blame the broker for losing trades and widening spreads and all this. What I'm saying are these are the four brokers who I personally use myself. I've never had an issue with them. And the two American brokers, OANDA and Trader's Way, are the two brokers that a lot of my US clients use and seemingly like. And so have a look at them, do your own due diligence. It's really important. It's your money, you need to be comfortable with them. It's not just because I say they're good, you have to be comfortable yourself. So go and do that due diligence and do some research on them, but don't be surprised when you see negative comments about certain brokers. I get negative comments about myself and my coaching course,

Podcast: How To Trade A Trending Market In this weekly video: 00:25 – Good strong trends in the market 00:45 - 13 trades closed and a +6% gain for the week 01:24 – How do you know if the market is trending? 02:03 – The great thing about technical trading 03:02 – I trade using retracements 04:05 – You can profit both ways – on reversal and continuation trades 04:52 – An auto trade signal service coming soon I'm going to explain how you can trade really well in a trending market like we've seen this week. So, let's get into that and more right now. Hi Forex Traders. Andrew Mitchem here at The Forex Trading Coach. This is video and podcast number 233. Good strong trends in the market This week we've had a fantastic change around in the market. We've had some very good, strong trends as opposed to last week when we had the American Independence Day, and we had non-farm payrolls. The market was pretty flat last week [inaudible 00:00:39] this week we've had some fantastic trades, some great opportunities to get into the market and ride the trends. 13 trades closed and a +6% gain for the week Personally, I've had a great week so far. I've had 13 trades that I've closed out up over 6% on an account on a half-percent risk per-trade. Those have been across a variety of different time frames. Some weekly charts and daily 12 hour, 8 hour, 6 hour and 4 hour charts. Very little time per-day actually spent trading, but just over 6% return, half-percent risk per-trade. 13 trades. That's all. There's three trades still open behind me, they're all in positive territory. So, I'm looking at maybe increasing that to maybe 7% or 8% by the end of the week. So, it just shows what can be achieved. How do you know if the market is trending? So, how do you know when the market is trending? You can generally see that in hindsight after it's actually happened. In real time, you really don't know if it's trending, if it's range banned so it can reverse what's happening and that's the beauty of being a price action trader. A technical trader because I can only trade what I see on the charts at the time. Now, I can have clues on the charts such as Bollinger Bands and things like that. When the Bollinger Bands widen when they get further apart, the market is generally trending more and it's moving further apart. When Bollinger Bands get tighter and closer together, then that means that the market is more range banned and it's flatter. The great thing about technical trading The beauty of technical trading is this: If the market is range banned and it's very flat, I generally know where to put profit targets and stop losses because I can figure out those levels according to what's happening in the market right now. Quite often when the market is range banned and flat, you don't actually find too many high-quality trade setups. So therefore, if the market is flat like last week, you don't see much happening. There's not a lot you can trade. You can take some trades, but very few. This week, the market has been moving beautifully. Think trending markets. Therefore, it's been quite a lot of good setups. High-quality setups and it just gives us the opportunity to take far more trades, and profitable trades because the price action has been moving a lot, and profit targets are being hit on the vast majority of trades. So, it's of great time to be trading when this happens. I trade using retracements Now, I trade on retracements. So, that means I'm getting in at a better price than where the market is right now. With these big trends moving, you will get the up-trend, you get little pullbacks and it goes again, and that's a great way of trading. So, it's a continuation trade using a retracement. I've also take a few trades. Now, yesterday was a great example. You'd have noticed on Thursday, a lot of the Yen pairs were suddenly showing strength. There's been a lot of weakness in the Yen pairs,

Podcast: What It Takes To Be A Good Forex Trader In this weekly video: 00:30 – You must have a passion for trading 01:44 - Controlling your emotions 02:22 – A willingness to learn and change 03:33 – Be dedicated to trading 04:10 – Develop a strategy that works for you 05:02 – You have to give this some time to work 05:43 – How can I help you? 06:07 – A very high success rate for clients – here’s why 07:07 – Click on the link below to find out more What makes a good Forex trader? Let's talk about that and more right now. Hello Forex traders. It's Andrew Mitchem here, The Forex Trading Coach video and podcast number 232. In this video, I'd like to explain about some of the main points you need to have in order to be a good Forex trader, so let's get into it. You must have a passion for trading Number one, and I think this is so important, very often overlooked. You need to have a desire to want to trade. You have to have a dedication to trade, but you have to have a passion for trading. It has to be something that you really want to do. Don't just get into Forex training because you've heard somewhere or read online it's a really good way of making some easy money. It will not work for you if that's the reason you're in it. If you're in it for a get rich quick idea, don't do it. If you're in it because you're a gambler, don't do it. If you would like to become a Forex trader and genuinely have an interest in the markets, an interest in understanding how they work, an interest in making money, of course, but investing and being a good investor, then the Forex market is perfect for you. You have to have that approach up front. You have to have that genuine desire to know what's happening in the market. I think it's really important, often completely overlooked because everybody always jumps into the strategy first. You've got to really sort of enjoy it. You have to sort of look forward to trading each day. When it gets to the weekends, I'm disappointed I can't trade. I look forward to Monday mornings. For most people, Monday morning is about the worst thing that can happen to them because they have to go back to their job again. It's all about having that enjoyment in what you do. Controlling your emotions You have to be able to control your emotions. It's really important. You are dealing with money. You are dealing with life. Price action moving, sometimes things can be very, very slow. Other times things could be happening very, very quickly. You have to be able to control yourself, control your mind, understand what you're doing, be very level-headed about what you are doing because ultimately when you're trading with money, emotions do come into it. Again, when you're trading with strategy and you're trading with the unknown and you're trading with probability, because that's ultimately what we're doing, you have to be able to control your emotions and not react in a bad way to the market or what's happening. That's the first two points. A willingness to learn and change The third thing that you need to do, you have to have a willingness to learn. You have to have a willingness to change and a willingness to adapt to the market because market conditions do change over time. You have to have a willingness to, not just be completely rigid. Yes you have to stick to rules and yes you have to have a plan, and you have to be able to stick to rules and stick to a plan, but at the same time, as the market changes, you have to be able to adapt. Give you a great example, just yesterday, I held a webinar with clients. We took some trades on the four hour chats. Now, more recently, the four hour chats haven't been showing that many good trades, but this last week, they've been showing some excellent trades. Whereas I've been trading a lot off the daily and the 12 hour chats more recently, but this past week, less trade. You adapt to what's showing at the time in the market.

Podcast: How to use Round Numbers as a FX Trader In this weekly video: 00:29 – How to profit from using Round Numbers 01:15 – Strong Buying and Selling horizontal levels 01:53 – A level ending in 00 or 50 – price will react at these levels 02:52 – I use these levels in a variety of different ways – with a trade example 04:25 – How you can use round numbers 05:04 – Using a round number to predict my profit target and to add safety to a stop loss 05:35 – Use these levels and do some back testing 06:02 – Many traders fail to look at the price I'm going to explain how you can profit from the Forex market by using round numbers. It's really important so listen up. Let's get into it right now. Hey Forex traders! Andrew Mitchem here, The Forex trading coach. Video and podcast number 231. How to profit from using Round Numbers Now this is a really important lesson and I would like to explain to you how I use round numbers and how you can use round numbers to your advantage and to help you profit as a Forex trader. See the things that I like to do in trading, I keep things simple. To me it's really important that as a professional trader and as a Forex teacher, I'm teaching people how to trade in an easy, simplified way that is practical. You see it's all well and good having all these systems and lines crossing over and different things going on, but if it's not practical and it's not something that you can do in real time, and you can do with enjoyment as in like you're not trading all of the time, than it doesn't really mean a lot. So let's talk about round numbers because they are very, very important. Strong Buying and Selling horizontal levels The reason I like them is I like psychological levels, reasons why people are buying and selling. I also love the use of horizontal lines on my charts. Now you might say why horizontal? Well, a horizontal line does not move. It's always fixed. It's not like a moving average or a MacD or RSI or one of those other, you know, sort of squiggly lines on your charts that are moving all the time. A horizontal line is a horizontal line. I can see it, you can see it, it doesn't matter who your broker is, what your platform is. It's there for everybody to see if you know what you're looking for. A level ending in 00 or 50 – price will react at these levels So think of it this way, a round number, and I call a round number something that ends in a 00 or a 50, so the price of the pair might be 0.7000 or 7100 or 7150, something like that. Something ending in 00 or 50. Think as in like why the price is reacting at those levels, so go back to a scenario we all know, let's go to a shop. We're buying something and the price is $100 or $101 let's say, but that doesn't happen does it? Because when you buy something from a shop the price will be $99 or $99.50 or $99.99, you know, something like that. Psychologically round numbers are there everyday in what we do, what we buy, so it's no different to trading Forex. Think of the 00s and the 50s. I use these levels in a variety of different ways – with a trade example I love to use those levels in a variety of different ways. To give you an example, just last night I took a trade on the New Zealand dollar, Swiss Franc on the four hour chart, you can go and find it on your charts. It was taken on the 29th of June, go and find it on your charts. The price bounced through the 70 level, 0.7000 and it showed a really good set up and I could use that in a few ways, the price, and I was selling the New Zealand Swiss Franc. The price had already closed below the 70 level, the 70 cents level. It meant that I could then use that as an area to put my stop loss above that because in order for the price or for the trade to fail, it meant that the price then had to of rose back up through 70 and beyond in order to stop me out of the trade. In the end the trade worked beautifully. I had a 2.

Podcast: Do you want to trade 5 minute FX charts? In this weekly video: 00:22 – Should you trade 5 minute charts? 01:05 - Unrealistic way of trading – too much chart time needed 01:48 – Trading at silly times of the morning 02:45 – Less strength on a 5 minute chart 03:32 – Trading the W1 and D1 charts while in the US 04:22 – Less than 1 hour per day to trade full time 04:50 – 14 Continuation pattern trades made +5.5% gain last week 06:08 – Software to trade offline charts 06:34 – Conclusions? Why should you trade the five minute forex charts? Let's talk about that and more right now. Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 230. Should you trade 5 minute charts? I'm going to talk about five minute chart trades. Why should you trade them? Should you trade them? Let's talk about that and see what your answer is in a couple of minutes from now. The reason I want to talk about five minute charts is I had an email from a guy in the UK called Michael. He came to me and said, "Look, Andrew, I'm struggling with my trading. I purchased a course." I'm not going to name you the course, but he said, "Look, I purchased the course, been doing it for a little while and I'm getting nowhere." I said to him, "Okay, so tell me about the style of trading." He said, "Look, it's all based on five minute charts." Instantly for me that's like a bit of a warning system going off there. Unrealistic way of trading – too much chart time needed I said, "Okay, Michael, what's the issue? Why can you not trade the system?" He said to me, "Well, it's requiring a lot of" his time, a lot of the chart time, like he's sitting at the computer a lot. He's got work to do. He's got a wife and kids to commit to. He said, "I just can't commit that amount of time to sitting there watching charts, and when I do sit there watching charts, I'm feeling like I'm forcing trades to happen. I'm overtrading. I'm constantly scanning different charts, different currency pairs. I'm on five minute charts looking for setup, scared to miss something, and almost like a gambling mentality, that constantly having to do something, scared to miss a trade." Trading at silly times of the morning He also said that he has a mentor with his course who's over in America. He gets up at like three or four o'clock in the morning to trade the European session. Michael's there trying to go to work, and he's trying to trade. There's people getting up at like silly o'clock in the morning, crazy times in the morning, to trade these five minute time frame charts because they think they have to be there at that time trading these short time frame charts. You can get where I'm going with this. To me it's crazy. It's not sustainable. Even if you're making money from trading five minute charts, if you want to do that then maybe select say like an hour or so at a time that you're going to sit and do that. My system works on five minute charts but I don't trade five minute charts. The same principle applies, but the downside is also you have to commit yourself to sitting watching the computer. You feel like you're forcing trades because you think [inaudible 00:02:40], therefore I'm going to look for trades. Less strength on a 5 minute chart The short time frame charts, if you're a technical trader like I am, a five minute chart doesn't really have a great deal of relevance because they still do work technically, but they have less relevance and less strength than say like an hour chart, or a four hour chart, or a daily chart, something like that. The other thing is also you have to be really careful and mindful of news events. You also have to understand that the spread, the cost to take a trade, will have a significant impact on your overall profitability if you're looking at small time frame charts. All these things you have to weigh up.

Podcast: Continuation Patterns Give Better Results In this weekly video: 00:33 – Back in NZ after spending a few weeks in the US training new and existing clients 01:20 - Continuation patterns and Reversal Patterns 01:58 – Looking for Continuation Patterns – Software to help 02:30 – Examples of trading a Continuation Pattern 03:36 – A trade example from today’s webinar – made clients a +1.15% gain 04:24 – More from 1 trade than you’ll get in 1 year from a savings account in the US I'm going to explain why I much prefer taking continuation patterns. Let's talk about that and more right now. Hey, forex traders, Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 229. I'm going to talk about why I much prefer taking continuation patterns as the majority of my forex trading setups as a technical trader. Back in NZ after spending a few weeks in the US training new and existing clients So, back in New Zealand, after spending the last two and half weeks in the U.S., had a fantastic time over there. We did some free events and some live in-person one-day events in North Carolina and in Washington D.C. Had a great time, met some fantastic people, and we achieved some amazing success. Really, actually rewarding to meet existing clients who have been with me for a long time. I had some clients fly right across from the other side of America, from San Francisco to come across to train. I had a number of new clients as well. So, it was really interesting to meet those existing clients in person and just to see how well they're doing and to help new people with their trading. So, that was all about America. Back in New Zealand now this week. Continuation patterns and Reversal Patterns So the video today is about continuation patterns. So, as a trader ... And I explained this to all of the people I taught last week. I'm looking for mainly two types of patterns. One is a reversal pattern. The other is a continuation pattern. Now, reversal patterns on the charts look really good. They're very rewarding to see. They look dramatic. As an example, there's a large uptrend. We're taking a sell trade because of a technical reason to do that, and the market drops in our favour. The opposite, of course, is a large downtrend, we're looking, we're taking a buy trade, the market reverses back up in our favour. Very dramatic, look very good, but slightly higher risk. Looking for Continuation Patterns – Software to help So, to counteract that, my preferred way of trading is to look for a continuation pattern. I've got some great software that works on the MT4 platform. My clients all have access to it and it helps to give us a few reasons of why continuation pattern is likely to form and to give us confirmation that the reversal has happened, and the continuation is now back to resume, giving us an ideal opportunity to jump into the market at that point and ride the existing trend after a retracement or after a slight pullback. Examples of trading a Continuation Pattern So, what does that actually mean? Well, let's say the market's trending upwards. As it's trending upwards, there may or may not be opportunities to ride that, but what I'm preferring to do is look for a retracement or pullback and then an opportunity to ride it back up again. Take the opposite of that, the market's moving down, and then we're looking to wait for the retracement or the pullback and then look for opportunities to take the market down again and to take short positions, sell positions as the continuation of the main trend happens after a reversal or retracement. So, it's a very safe way of trading. You blend it all together with everything that I teach, everything that I'm looking for, and you add to it the bigger picture, the longer term strength and weakness, which again I teach in part of my course. A basic version is available free of charge on my website every single day for you to go and ...

Podcast: How Important Is Your Win Rate? In this weekly video: 00:23 – I’m in Washington DC with Paul Tillman holding training sessions 00:50 - Should you be concerned with your win rate? 01:30 – 40% win rate and making money 01:50 – Free and paid training in the US 03:00 – Amazing client’s success Andrew Mitchem: How important is win-rate to your trading success? Let's talk about that and lots more from America right now. I’m in Washington DC with Paul Tillman holding training sessions Hi, traders. Andrew Mitchem here, The Forex Trading Coach video and podcast number 228. I am here in Washington DC with Paul Tillman. Paul Tillman: Hey, everybody. Andrew Mitchem: A couple things we want to run through. Just to let you know that we're in Washington right now. We are holding some live events tonight and tomorrow night, Thursday and Friday, and that this weekend coming we're holding some live full-day training sessions. Did exactly the same in North Carolina last week. Had tremendous, tremendous success. Should you be concerned with your win rate? One of the parts that I want to just quickly run over is a lot of people said to me, and these were people who were not clients at the time, these are new traders. They were saying I'm really concerned about win-rates. When we went through the session, it was actually interesting. The more you think about, the more win-rate is actually not that important. I'll just explain why. We had a guy who was talking about having a 90% win-rate and was actually losing money from his Forex trading. Reason being is he was taking lots of small profitable trades, sort of small either pips or percentages, and then having one or two huge great losses. The problem was the losses, of course, were wiping out all the gains. Yes, he may have had a 90% win rate, but he was losing money. 40% win rate and making money We then get a client of mine who was talking and saying, "Well, I've got a 30% win rate, and I'm making money." In fact, Paul, who is sitting right next to me here, who's been with me for two years has got around a 40% win rate but is still making really good money. I believe he made about 4% on his account just last week. With that and more, I'll hand you over to Paul. Free and paid training in the US Paul Tillman: Absolutely. We're here in Washington DC. Right here Washington Monument and we've got these live sessions. We're doing free sessions tomorrow and Friday and then paid training into the weekend. We're going to be doing this all over the United States in the weeks and months to come so definitely watch out for that. I want to talk just quickly, we were on the metro coming into the city. I heard a few guys talking saying, you know what, I pulled 56 hours this week. I pulled 60 hours this week. The thing that he said at the end really caught our attention. He said, "Well, that's life." We're thinking, "Well, that doesn't have to be life." I sit here and Andrew and myself, we might trade four or five hours a week total, and you get that supplemental income and then you ramp up to a full income. You don't have to get in suits and ties and go to meetings all the time. Your work-life balance is incredible, phenomenal. It just goes to show you what you can do in just a few hours time making great gains on your account and all it takes is a little bit of education, coaching from us, webinars, forums, just all kinds of great things that we can offer you with The Forex Trading Coach. Amazing client’s success Andrew Mitchem: Yeah, absolutely. I couldn't say any more, really, because we've got proof. We've just met so many people in the last week and we will again this coming weekend, I'm sure, that have just had tremendous, tremendous success after just a small investment in themselves, small investment in their education. Like Paul said, just sort of committing to being on a few webinars, copying what we do each day once a day,

Podcast: Real Trading Results In this weekly video: 00:28 – Coaching sessions in the US 00:53 – Amazing trading results 01:36 – Client from the UK makes 6.5% in 20 days 02:12 – What makes the results so good? 02:46 – Great to meet clients in person as to see how FX is changing their lives 03:45 – Get to Washington DC next week 04:18 – Join my online video course if you’re unable to join us live next week I want to share with you some results that clients have been making on live accounts in real time in the Forex market. Let's get into that and more right now. Hey traders. Andrew Mitchem here. The Forex Trading Coach. Video and podcast number 227 coming from Raleigh in North Carolina in America. Coaching sessions in the US Now just yesterday I held a free intro session for people looking at jumping into Forex Trading and tonight we're doing exactly the same thing in Raleigh and then at the weekend we're holding some live events here, live training events and then moving onto Washington D.C. next week, so that's what we're up to in America. Amazing trading results But what I want to talk about in this video and podcast is some of the amazing results that clients are achieving. Now I've just been holding a webinar in the US session with Paul Tillman who's a client of mine who lives here in Raleigh and the results are just amazing. We had a guy Javier, who a few weeks ago I mentioned on the videos and podcasts. I met Javier just yesterday. He lives here. He made 18% in the last nine weeks on live account. Paul himself, he's made 4% so far just this week. I'm up 2.5% and I've been here just trading daily charts. I'm up 2.5% on my live account so far in just being in America for a few days. Client from the UK makes 6.5% in 20 days On the webinar I had a client in England and he said that he's made 6.5% in the last 20 days on live accounts again and these are people who have taken the course. They've studied the course. They've attended the live events. They jump onto the forum site and it's just happening all the time. I met another client last night, a guy called Andrew Terkington who lives here in Raleigh. He's been a client for I think about three months and he had made something like I think he said about 8% in that time on a live account. It's happening time and time again. What makes the results so good? Why's it happening? Why does this happen to clients? Why it's such a great success rate? Well, many reasons. One I'm a real trader. I'm here in America and I'm trading in the afternoon time now. 5:00 p.m. eastern standard time is when I'm posting my daily charts, so I'm posting that in real time for people to follow. We're holding the live webinars. We've got the live forum site. We've got live chat for clients to talk to each other. We've got software. All these things are basically to ensure that clients have a really high success rate of being successful. Great to meet clients in person as to see how FX is changing their lives It's just really great to meet these people who have been clients, some for years such as like Paul has been a client for over two years and as you meet them in person and see where they live. See what they're doing and how being successful at the Forex market is actually changing their lives. It's just a great thing to see. Last night I went out for a meal with Javier, with Andrew and with Paul and it's great to be sat with four people together. The four of us sat there together all making money and actually Paul said "I wonder how many people can sit down at a table of four with other successful Forex traders?" Not only knowing people who trade Forex to start with but successful and profitable traders and all four of us are just examples of that, so it was very, very pleasing to see and nice to see how well people are doing. If you happen to be in the area, if you happen to be in the Raleigh area then try and get along to the weekend even...

Podcast: Why the Daily Trend is so Important In this weekly video: 00:34 – Currencies are moving all the time 01:00 - I look at the Daily charts at the close of the candle 01:42 – Analysing the charts 02:30 – Adding probability to your trade 03:20 – Free daily analysis published each day 03:39 – Client makes +18% account gain on a live account in 9 weeks 04:24 – I’m heading to America this weekend – come and join me live in the US Why is the daily trend so important to your trading success? Let's talk about that and more right now. Hi, traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 226 and I'd like to talk about and stress the importance of understanding the daily trend and the likely daily direction, and how that can make such a big difference to your overall trading success. Currencies are moving all the time Currency pairs are moving all the time, different currencies are moving all the time. Some are strong, some are weak, some are going sideways. We really need to know how do we use that information to our advantage because things are changing. News events come out, price hits certain levels, political events, whatever it might be, things are always changing. It's very hard to know what the trend is right now unless you make some form of analysis. I look at the Daily charts at the close of the candle What I do is each day, I'm looking at the daily charts on the close of the candle. Upon the completion of the close, the 5 PM Eastern Standard Time, that's New York close of day chart, on the daily chart, I go through the different daily charts. I'm looking for stronger currencies and weaker currencies and then, putting the two of them together. You have a very strong currency that's strong against all others or most others, very weak currency that's weak against all others at that time. Putting the two together and looking for ideal currencies that are likely to be moving up or currencies moving down, but it's not just a case of looking for strength and weakness only. Analysing the charts You then need to analyse what part of the chart that price occurs in. You're looking at candle patterns, you're looking at the formations or the candles, other factors influencing that actual candle pattern right now. At what part of the chart is it appearing in? You're putting all those things together and then, what I'm doing is I'm making an analysis of where I see which currencies for that particular day are favouring buy trades and which are favouring sell trades. Now it does not mean to say that by the end of the day if I'm looking for buy trade, it does not mean to say that that currency will end up closing higher than it opened. If it does, fantastic, but it doesn't mean to say that will happen. What it means is when I then scale down and look for trades within the day. Adding probability to your trade If I see trades within that day that are setting up in the same direction as my longer term trend and longer term direction, surely that adds more weight and more probability to the likely outcome of that trade being a successful trade and in my favour. What it does also is it helps to eliminate what I call false set-ups, set-ups that technically can look quite good, but they're against that bigger picture, against that bigger trend. Now, of course, some of those will work, but the probability is less so if it's trading against the longer term picture or the bigger likely direction for that pair for that day. I like to use trends and trade with the trend, not always just for the trend. Sometimes after, I retrace and then I pull back and then looking for the trend to move down or up, whichever it's doing after we've had some form of retracement. It's a really important point there. Free daily analysis published each day But I publish free information on my website daily for the public,

Podcast: How Big Should Your Stop Loss Be? In this weekly video: 00:33 – What size should your stop loss be? It depends 01:10 – The way I like to trade 02:30 – You need to factor all those things together. 03:44 – Adjust your position size – use my free lot size calculator 04:27 – Should you use a trailing stop instead? 05:30 – Don’t simply move your stop loss to breakeven 06:08 – A set and forget approach How big should your stop loss be as a Forex trader? Let's talk about that and more right now. Hey traders. Andrew Mitchem here, the Forex trading coach. Video and podcast number 225. In this episode, I want to talk about a really important subject. It's all about, how big should your stop loss be? What size should your stop loss be? It depends My initial answer is probably not what you wanted to hear. My initial answer would be, it depends. It depends on a lot of things, so I can't give you a straight number of pips answer. I'll tell you why shortly. Stop losses, they're really important. In my opinion you should definitely use one. Some people say, "Don't use them at all". They say, "If you don't have a stop loss you can't get stopped out of the market". The problem that I see with that is that, that's fine in theory. The problem is that one or two bad trades that goes against you, and it just keeps going. Those are the trades that can do some serious damage on your account. The way I like to trade The way I like to trade is, I like to have a controlled and equal risk on every trade that I take. It doesn't matter what the strategy, what the time frame or the chart is. What the currency pair is. What the day of the week is. What the direction of the trade is. It doesn't matter. Therefore, when I'm taking those trades, I need to know the size of the stop loss. But I don't just take a generic stop loss. I don't say, "This trade is going to have a 30 pip stop loss", or, "This trade's going to have a 50 pip stop loss". You can not trade successfully like that, because a 30 pip or a 50 pip stop loss doesn't mean anything. The stop loss size of your trade needs to be determined by a few things. One, your overall strategy. Two, the currency pair you're trading, because of course different pairs have different movements, so different amounts of move within a day. As an example, if you were trading the Euro and British Pound, vastly different to have a stop loss of 30 pips on that, as opposed to the British Pound and New Zealand Dollar, which could move 200 or 300 pips in a day. As opposed to the Euro/Pound that might move 50 pips in a day. It also depends on the time frame of the chart you are trading, and it also really importantly depends on the current market conditions. Always place your stop loss at a level that protects the trade You need to factor all those things together. What you should do is, always place your stop loss at a level that suggests that if that level gets hit and the price gets to that level, you accept that you're wrong, the trade is wrong, the set up is wrong. Whatever it might be. You accept that you take a loss on that particular trade. That's how you should place your stop loss. The level that gives the trade room to breathe, room to move, but also says that, "If it gets to this level, then I'm wrong". That's fine. You're going to be wrong as a Forex trader. No one is 100 percent accurate all of the time. Having a stop loss at that level that's a safety buffer, a safety level. Once you have that, you can then calculate the stop loss size in pips, but it should never be just 30 pips or just 50 pips. It should never be a set level depending on what pair or what time frame you're on. You shouldn't do that. You should put that stop loss there according to that actual trade itself. That's why my answer is to, "How big should your stop loss be?", is, "It depends". Because it really does. Adjust your position size – use my free lot size calculator

What do you do when the going gets tough with your trading? Do you give up, or do you keep going? Let's talk about that and more right now. This is video and podcast number 224. I want to talk to about what do you do as a person and as a Forex trader when the going gets tough? Because it's very easy to just throw everything out and go, "It's not working." Blame the broker. Blame the system. Blame everything when things go tough.

Let's talk about some of the best ways of trading the Forex market in the current market conditions. That and more, right now. Two important topics today. Number one, I want to talk about the market conditions right now. What's the best way of trading. I've got some great examples to share with you and also after that, I would like to share with you information about my upcoming eighth birthday sale, an absolute amazing way for you to jump on board and join a huge global group of Forex Traders, and successful Forex Traders. More about that, shortly.

As a Forex trader, I follow what the charts are telling me. Let's talk about why that is right now. Hi Forex traders. It's Andrew Mitchem here, the Forex Trading Coach. Today is video podcast number 222 and I want to talk about why, as a technical trader, I watch what the charts are telling me and I trade what the charts are telling me. It's a really important thing.

I want to talk about the number one biggest mistake that I see Forex traders all over making, and it's as simple as this. People trade with too big a position size. Their lot size is ridiculous in most cases and it causes too many problems. As a trader, these are the facts. You need to trade with low risk per trade, you need to have controlled risk per trade. You need to know what the very worst outcome is on that particular trade, and also, when you think about that.

I've got two great bits of information to share with you today. Number one I'd like to share with you how you can trade as a full time forex trader by spending one hour or less looking at your charts per day. I'm sure you'd like to know that. Number two, I'd like to share with you some great news. I am coming to America, so if you are in America or maybe in Canada I'd love to come and meet you. I will be in America in the first two weeks of June in North Carolina and Washington, DC so more about that at the end of this video and podcast.

I've got two great bits of information to share with you today. Number one I'd like to share with you how you can trade as a full time forex trader by spending one hour or less looking at your charts per day. I'm sure you'd like to know that. Number two, I'd like to share with you some great news. I am coming to America, so if you are in America or maybe in Canada I'd love to come and meet you. I will be in America in the first two weeks of June in North Carolina and Washington, DC so more about that at the end of this video and podcast.

And I'm gonna be discussing with you, and sharing some tips and ideas of helping you to look for higher-probability trade setups. Trade setups that are gonna work in your favour far more often than they're not going to. You see, the problem is with a lot of traders, is they don't have a strategy, and they don't really understand the market.

I want to talk about what it takes to become a successful Forex trader. How I can help you shortcut your learning path and save you lots of time, money, headaches, and frustration. Does that sound good? If so, keep listening. Okay, so there's a common number put around that somewhere between 90 to 95% of all Forex traders lose money.

In this video, I'm going to be talking about why you need to think as an investor in order to become a successful Forex trader. Not just as a gambler as someone who sees Forex as a get rich quick scheme or someone who sees Forex as a way of solving financial problems that you may have or an easy solution, because it's not.

In this video and podcast, I want to talk about how leverage can really assist you achieve your trading goals. So, let's get into that right now. Hi traders, it's Andrew Mitchem here. This is video and podcast number 215 and I want to talk about leverage, how leverage can help you and assist you to achieve your trading goals. Let's get into it.

I'm going to talk about a subject that not many people actually talk about, but it's a really, really important subject. It's about trading a variety of different time frame charts. Most people trade just, probably, one time frame. In fact, most traders and new traders generally trade too short a time frame. Most people would trade five minute charts or fifteen minute charts and it's generally too quick a time frame for most traders. But, that's a subject for another day.

Hi Forex traders, This is video and podcast number 213 and I'm going to be telling you and explaining why I prefer to split my positions up into two or more parts.

I'm going to explain about the daily charts, why I've traded them for the last 12, 13 years, why they're my favourite time frame charts, why I believe you should have a look at trading them also.

Podcast: Why learning HOW to trade is so important In this video: 00:24 – You need to learn HOW to trade first 00:56 – Getting squash lessons 02:52 – Investing in your yourself through training and coaching 04:05 – Long term investment in your future 04:28 – I’ve been teaching traders worldwide since 2009 05:06 – Three important letters “HOW” Let's talk about why learning "HOW" to trade is so important. Let's get into that right now. Hi Forex Traders! Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 211. You need to learn HOW to trade first I'm going to talk about something really important. It's all about the importance of learning how to trade. It's that there's so many parts of trading, but unless you actually learn the how to bit, get that bit right, the how to trade. It's an important little word because if you get that right things will be great. If you get it wrong, then you can have all the systems, the accounts, everything, but it will not work for you. Let's explain a little bit more. Getting squash lessons To give you an example, just this week I've taken up learning how to play squash. I used to play about 20 years ago when I didn't have grey hair. I'm looking at something to do that's going to help keep me fit and something that I haven't done for awhile and I thought, "I'd love to get back into some squash." What did I do? First thing I did is I went along to a club and I had a chat with them, worked out what the membership was going to cost me for the year. Then I thought, "Actually, I need to get to be taught how to play." Again, it's the "How To". Get that bit right. The learning with a mentor, with a squash coach, is actually going to cost me more money than the annual membership of a really good local club. Some people might just think that's absolutely crazy and think that's ridiculous. Why would you just pay someone to do that when you can just get out there, and get a ball and a racket, and hit away, and off you go? Yes, I could do that, but of course I'm probably not going to progress very far and I'm going to end up getting frustrated because my skill level will be just about the same. It may improve a bit. It may go backwards. Who knows, but it's not going to give me what I really want. To me, investing in someone to help teach me to look at what I'm doing right, what I'm doing wrong, a coach in squash is such a valuable investment because I'm investing in me. I'm investing in my overall enjoyment of the game. Probably going to get myself far better results. Therefore get high rankings, play against better people, progress. All those sort of things. That's what I'm after from it. I'm trying to do it at the very beginning. I don't want to come in with lots of bad habits and then someone's gotta unfix all those bad habits and break all those habits that I've got into. Investing in your yourself through training and coaching To me, upfront, I'm looking at investing in training and coaching. Trading Forex is absolutely no different. You see people will come to me and they go, "Andrew, how long's it going to take me to pay off your course if I've got a thousand dollar account?" To me it's like, it's almost like it's not relevant. Don't take that the wrong way, but take it and think of it, don't get offended by that comment. Think of it a different way. Turn it right around. You could have a million dollars in your trading account, but if you don't know how to trade, if you don't know what you're doing, you're going to lose some money on that account. Likewise, if you've got a thousand dollars in your account and you go, "Why would I want to go and spend fifteen hundred, two thousand dollars on a coaching course when I've only got a thousand dollars in my trading account? That's crazy." It's not really when you think about it because if you want to get into trading long term,

Podcast: The 7 Most Important Points To Becoming A Successful Forex Trader In this video: 00:28 – My 7 top tips to be a successful Forex trader 00:43 - #1 – You must have a passion for trading Forex 01:26 – #2 – You must have a strategy that works for you 02:18 – #3 – A low risk money management trading approach 02:56 – #4 – Learn how to trade first 04:25 – #5 – Be level headed and be consistent 05:06 – #6 – Seek on-going support and mentorship – Keep improving yourself 06:07 – #7 – Don’t be fooled by lagging indicators 06:35 – Get all 7 points working and you’ll become a good Forex trader Andrew Mitchem: In this video and podcast, I'm going to explain to you the seven really important points that you need to understand and have implemented in order to be a successful Forex trader. Let's get into it straight away. Hi, Forex traders. Andrew Mitchem here, the owner of The Forex Trading Coach. Today is video and podcast number 210. My 7 top tips to be a successful Forex trader And this is a really, really important lesson for you to get, and to understand, and to implement in your trading. I'm going to give you my 7 top tips to be a successful Forex trader so let's get into it, shall we? #1 – You must have a passion for trading Forex Number one, you must regardless of all other things, you have to have a love of trading, a passion for it. I'd be trading for 13 years. I still have passion for it. Every morning I wake up, I want to go and have a look at my charts, see how the trades are going. A lot of people after that length of time in anything get quite bored. You see, most people of course get to Friday night, they can't wait for the weekend to come. For me, it's the opposite. I can't wait for Monday and the charts to open, the markets to open again so I can get trading again. You got to have a passion for it. There's no good in even if you're making money out of your trading if you hate doing it or you're really bored by it. You got to have a passion. It's a really important point number one regardless of what you do in life. Enjoy it and have a passion. #2 – You must have a strategy that works for you Number two, you have to of course have a strategy that works for you, something that suits you. It doesn't matter whether you're a technical trader, or a fundamental trader, or a combination of both. Whatever it is, have something that works for you, something that doesn't take all day and night to do. What's the point in having a really good system that's making you a lot of money but you're sitting there for 12, 14 hours a day glued to your charts? That's just no fun at all. Life is far too important and you need to have too much ... You should be having lots of fun and not spending too much time at your charts. For me, it's important to have something that I can trade for only a short amount of time per day but does very, very well, and I think that's important for longevity and enjoyment out of your trading. Make sure you find out what works for you, what suits your style and your personality as a person and as a trader. #3 – A low risk money management trading approach The third thing you need to use and to understand correctly is a low risk money management approach. You see, you can have the best trading system on the planet but if you don't have low risk in your approach and high rewards risk trades, then what you generally do is lose money. You can have a 90% winning system but still lose money. You can also get heavily influenced by emotions, and greed, and fear, et cetera if you're risking too much on a trade. That takes you away from your trading plan. Keep your risk really low for trade. I suggest no more than half of 1% the trade. #4 – Learn how to trade first The fourth thing. You must learn how to trade first. Get that right first. Too many people come to me and they say, "Hey, Andrew. I want to be a full-time trader.

Podcast: Do You Have Your Trading Year Planned Out? In this video: 00:45 – Making sure you have 2017 planned now 01:48 - Trading Goals - What are your goals? 02:15 – 2 recent examples to help you 04:10 – Make your trading realistic to do – what makes my course successful 07:05 – Write down your goals now Have you got your trading year planned or not? Let's talk about that and more right now. Hi, Forex traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 209 and the first video and podcast for January of 2017. Welcome back. I hope you've had a wonderful Christmas and New Year break. I know I've certainly had a great time. Summertime this part of the world here in New Zealand and we've had a great few weeks off trading doing lots of things, family things, flying, swimming, et cetera, doing all sorts of really cool things, but now back into trading. Making sure you have 2017 planned now What I wanted to talk about today was making sure that right now at the beginning of January you have your 2017 planned because we all know how quickly time disappears and, all of a sudden, it's the next weekend, then next weekend, then it's halfway through the year. It can disappear on you really quickly. My suggestion is that you start right now today. As soon as you're listening, or watching this video or podcast, get a pen and paper and write down right now all the important things that you want to achieve both trading and personal in 2017. Do it now. Write it down. Grab a pen and paper. Stick it on your wall next to your computer and look at it all the time. Then ask yourself each day: what am I doing today to help knock off some of these goals, to achieve some of these goals, personal goals and/or trading goals? I can't really help you so much with the personal ones apart from I can honestly say that if you have a goals list, and you look at it, and you try and achieve it, you do achieve them, and it's amazing how much of that list you do get through. Trading Goals - What are your goals? Trading goals, I can definitely help you with. You need to decide a few things like what type of trader are you, what timeframe charts do you want to trade, what pairs, what directions? Is it continuation, reversal patterns? Do you want to trade the news? Do you want to trade technicals? How many hours a day do you want to trade? Do you want to trade maybe just a few times a week? What is it that realistically suits you? It's really important to get the part of what suits you and make it real. 2 recent examples to help you I'll give you a couple of examples. Just today I've had two emails come through my inbox this morning, two different people. One of them said, "Hey, Andrew. Look, I've enrolled in a course and it's all about volume. It's about trading volume in Forex." They're just questioning how that can be. I said, "Well, from what I understand, that volumes are really hard to me in the Forex market because, of course, there's so many different brokers, different feeds, et cetera, coming in." You can't really truly measure volume in a Forex market and this person was not happy with the course they bought. They said it's just not working for them. The other person wrote to me and said, "I've also started a course. I'm just finding it really complicated. It just revolves around being involved, watching charts all the time, waiting for certain things to happen." They said they're just finding it crazy that in the last month they've been looking at this course, and it's just taking up so much time. The other thing that was really interesting, which I don't agree with, is they said that as part of a course they were told to use backtesting information and go and review trade setups using lots of backtesting. Now, that in theory is okay. In reality, it's not that great because you'll soon get to realise that the hardest part of trading is seeing the charts right now,

Podcast: How Long Should You Leave Trades Open? In this video: 00:22 – Last video and podcast for 2016 00:35 – Trader asks about leaving trades open overnight 01:45 – Other markets often have opening gaps 02:45 – News announcements don’t often create gaps in the FX market 03:55 – Daily trades have made clients +35% account gain this year with low risk 04:40 – Client makes +27% gain since June with a 3% drawdown 05:30 – Spend some time to review your trades 06:05 – I start trading again on Monday 9th January 2017 06:40 – Thanks for watching and listening to my weekly videos How long should you leave your trades open in the market? Let's talk about that and more right now. Hello Forex traders, it's Andrew Mitchem here, The Forex Trading Coach. Today this is video and podcast #208. Last video and podcast for 2016 It's the last video on podcast for the year of 2016. What an amazingly quick year it has been, but more about that shortly. Trader asks about leaving trades open overnight The subject of today, and it comes about as a result of an email I had from a follower of mine on Forex Peace Army, a guy called Ray. Ray said, "Andrew, I love your podcast. Can you do one about the possibility of an overnight gap jumping right past your stop-loss? What's the possibility of a flash crash while you are sleeping? How do you deal with that? Is Forex more immune to this than other markets?" Ray goes on to say that he used to trade futures where gaps were always a possibility. How do I trade the longer time frame charts? The great news is Ray is that the Forex market doesn't really have gaps, being a 24 hour market from its open to it's close; you don't really get gaps. You can occasionally get a gap from the market closing at the end of the week until the beginning of the next week, and that can sometimes happen. It generally doesn't become an issue for most people the way that they trade. If you're trading a longer time frame charts then the gaps generally, if you leave your trades open over the weekend, don't become too big of an issue. If you're trading shorter time frame charts, so for me anything from a daily chart and lower, I always close them at the end of the week or before the end of the week anyway. If we get a gap open at the beginning of the next week, it's not really a big deal. Other markets often have opening gaps What you're referring to, Ray, being a futures trader or a previous futures trader, is that you get gaps of say between the market opening and the marketing closing on most of those other markets you look at commodities et cetera. Most Forex brokers now offer far more options available to us, different markets, than just the currency markets like they used to. You can trade things like coffee and soy and different markets as well on most Forex brokers. When you look at those, they are largely dependent around the market times that they open and close and they're certainly not 24 hour markets, most of them. Most of them are dependent on the US. If you're not in the US then they become really difficult markets to trade. For me over here in New Zealand, most of those US markets open somewhere between two and four o'clock in the morning, and I certainly don't want to be up looking at charts at that time of the day, but you do get gaps on those markets. News announcements don’t often create gaps in the FX market Even in the Forex market when you get news announcements and the announcement's massively better or worse than expected and you get some decent price action, very rarely do you actually get gaps in the market. Ray, to answer your question, to leave your trades ... when you say overnight, it depends again where you live in the world. If you're talking between the close of the day which is 4:59PM New York time and leaving it open through to the next 5PM New York time and into the next day on the Forex charts,

Podcast: Good Forex Trading Does Not Need To Be Complicated In this video: 00:27 – Traders send me their complicated Forex charts 00:58 - Initially you think that the indicators tell you the answer 01:55 – You need to look at the price and remove the clutter 02:57 – Only look to trade upon the completion of a candle 03:30 – Don’t get overwhelmed with news events 04:31 – My Christmas sale is now live – see the link below this video Good Forex Trading does not need to be complicated. In fact, the more simplified approach you have, the cleaner your charts, probably the better you'll do. Let's talk about that and more right now. Hi, Forex Traders. Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 207. Traders send me their complicated Forex charts I want to talk about an issue that so many people have. You see, people come to me and they show me screenshots of the way they're currently trading. It kind of just blows me away in terms of how difficult people make their trading, and unnecessarily difficult. We've all been there, haven't we? I know when I started trading I was looking at all sorts of different indicators. I was printing out, reading about them. It was just ... The indicators were everything. Initially you think that the indicators tell you the answer They look really impressive, especially when you're new to trading, and you kind of think that they tell you the answer. Little do you realize that all they've done is made an accumulation of previous price action and plotted it on a graph somewhere, so they all lag time pretty much. It's a real hard thing to get your head around, especially when you're new to trading because they do look really impressive. You think that your trading needs to be complicated. You think you need lines and arrows and stars and filled in bits all over the place. What you end up over time is realizing that, one, it doesn't work and what you also do is get a headache because you get confusion. You have different charts telling you different things and you really, you get the analysis paralysis, you know what I mean. Just Google complicated Forex charts and it'll be lines and squiggles all over the place. The problem is that when you have more of these lines and squiggles you can't actually see the real important thing. That's what's happening in the price right now. You need to look at the price and remove the clutter Look at the candle patterns, look at the price that they are at. That's the important thing. Get rid of the spaghetti, all the lines and complicated stuff, it doesn't help you, believe me. Start with the basics, look at the price. What's the price telling you? What part of the chart is that in right now? Is that looking like a trend's going to continue? Is it looking like trends are back to reverse? Has it hit a prior support and resistance level? When it the price it's at now, like, a long time ago or more recently, what did it do then? Did it hit that level ... Let's say it's in a up trend. Did it hit that level and then continue up? Did it hit that level, form a reversal bar, and then head down again? Look at what's happening in the market right now. Look at what happened at that same price level a little while ago. Put that together and you'll really help yourself with your trading. You don't need to complicate your chart. Simplify your chart, simplify your trading, simplify your life, it means you will enjoy your trading a whole heap more. Only look to trade upon the completion of a candle The other tip that I will give you is make sure that you only look at taking a trade on the completion of a candle. If you're trading a daily chart, for instance, wait until the daily chart closes and then make your analysis. If you're trading a one hour chart don't look at 20 past the hour and say, "I'm going to take a buy trade here," because a lot could happen in the next 40 minutes until that ca...

Podcast: Why Quitters Will Never Win In this video: 00:31 – A true sporting story showing why you should never quit 02:05 - It shows the power of the mind – both belief and doubt 02:45 – It’s no different as a Forex trader – don’t quit if it’s something you really want to do 03:45 – Stick at it and follow the basics 04:30 – Christmas sale 12th – 16th December I want to talk about why quitters will never win, so let's talk about that and lots more right now. Hi, forex traders. Andrew Mitchem here, The Forex Trading Coach. This is video and podcast number 206. I want to talk about a subject and tell you a story that happened this week. I want to talk about why quitters will never, ever win. A true sporting story showing why you should never quit I'm a big cricket fan, so let me start by saying if you're in the US and you don't know what cricket is, just imagine it's like baseball, as an example. If you do know what cricket is, fantastic. You'll understand the story. This week, I went to watch New Zealand play Pakistan in Hamilton, my local cricket ground. As I mentioned, I'm a huge cricket fan, and I'm a big New Zealand cricket fan. On the last day, New Zealand needed to bowl Pakistan out to win the game, and Pakistan also had a chance of winning so there could've been a win to Pakistan, a win to New Zealand, or a draw. All three options were definitely on by the last day of the game. However, by the T Break, New Zealand had taken only one out of the 10 Pakistan wickets and Pakistan were on the way to potentially winning the game. At that stage it would've been very, very easy for New Zealand to quit, but they didn't. They stuck out their game plan and in a dramatic last session in the afternoon, New Zealand took the further nine wickets and won the game. It was an absolute thrilling, amazing game. Whatever sport you're interested in, you just imagine when you have that complete reversal and that comeback from behind sort of situation. The thing was, we never ever quit. We didn't give up, and spirits for a lot of teams at that stage, at the T Break, would've been quite low, I would imagine, but we kept going, kept going. All the conditions were in Pakistan's favor, really, but we just kept going, kept at it. It shows the power of the mind – both belief and doubt And it shows also the power of the mind, because as soon as we took the second wicket, we then started getting even more confidence and trying even harder, and as Pakistan started to fail then the self-doubt came into it and they then crumbled and we excelled. Completely opposite to the previous five hours of play on that day. Amazing result for New Zealand cricket, but it showed me how quitters never win. We kept at it, kept going, and in the end we won and had an outstanding victory. Exactly the same as a forex trader. It’s no different as a Forex trader – don’t quit if it’s something you really want to do You know, I've had people come to me who have been trying to trade various markets, not just forex, for 10 years. They've come to me and said, "Look, I need to make this work. I want to make this work, but I've not quit," and this particular person who I'm thinking of is now one of my very best clients. He's doing extremely well, but I've got a number of people like that and when you find the people who end up being the most successful and the most profitable, not always do they start the best and it's a very common occurrence. The people who jump in and go, "Yeah, I want to do this and I'm going to double my count and make a fortune." They generally don't make it very far because there will be something that will happen, the next shiny object or something will happen, the trades won't work out quite so well as they planned, and those people tend to be the people who give up and quit. Stick at it and follow the basics However, the people that stick at it and ask questions and attend my webinars,

Podcast: #205: Sticking with the Basics is the key to success In this video: 00:35 – Danger - We all want the instant fix – but be patient 01:15 - Most Forex traders will go through this stage 01:33 – The foundations and basics are crucial 02:35 – Live webinar with clients proved that the basics are so important 04:24 – I post daily trades and hold webinars to enforce the basics 05:09 – Wait for the high quality setups As with most things, sticking with the basics is absolutely key to your success, and it's no different in Forex Trading. Let's talk about that and more right now. Hi, Traders. Andrew Mitchem here from The Forex Trading Coach. Today is video and podcast number 205, and I want to talk about getting back to the basics, and how very, very important that is for your long-term success as a Forex Trader. Danger - We all want the instant fix – but be patient Now, as people, as Forex Traders, whatever it is we do, we all what that instant fix these days. No one's patient. No one can wait. Everybody wants the answer. In trading, so many people want the get rich quick scheme. It won't happen. Everybody's sort of wanting to pay for an answer. No one's prepared to work at things, and it's a big, big issue. We all want the shiny object. We want the next thing. We want our quick fix. If it doesn't work, we're onto the next thing. We scrap that. We're on to the next forum, we're onto the next robot, the next indicator, whatever it might be. You know what I mean, don't you? Because, I know you know, because I've been there and done it myself. Most Forex traders will go through this stage If you're in that learning stage as a Forex Trader, I can almost be certain that you're doing that or going through that process right now. If you're not, then you're probably going to be. It's a big danger to get into those, so if you haven't reached that stage so far, stop what you're doing right now, listen to this video and podcast. It's really important. The foundations and basics are crucial Reasons being whatever we do in life whether it be raising a child, building a family, building a house, flying a helicopter, learning to trade Forex, whatever it is, it's all about the basics and there's so many aspects of life that that is so important in. Another thing that I, personally, do apart from flying is I've been practicing Karate for, oh, probably ten years now I think. Somewhere around about that. Karate is exactly the same. It's all the basics. It's repetition. It's doing these things hundreds and thousands of times so that you get them right and any shortcut, whether it be with your grounding, your footwork. If you don't get that right, like the foundations, the building blocks, everything else falls to pieces. You think about building a house. If you don't get your foundations, you don't get your groundwork, don't get your plans, all those type of things right, the building falls to pieces. Exactly the same is Forex Trading, you have to have those basics Live webinar with clients proved that the basics are so important Now with that in mind, the reason why I want to bring that subject up is just yesterday, I held a live two and a half hour trading room webinar with my clients. Clients from all around the world on the webinar. I'm trading on my screens behind me here. People can view my screens, hear me talking about different trades that I'm taking. Now the market was pretty quiet during the session. I had just took two trades, and so in amongst answering questions and answers for people, I showed a lot of trades that people have been posting on my forum site. Now I have a great forum site for my clients that they can go on, and share trades, and look at trade setups, post screenshots, et cetera. There's been a huge number of really good trades posted over the last couple of weeks on that site, so I shared a lot of those trades on the webinar, and discussed them with my clients.

Podcast: #204: How Important Are High Reward:Risk Trades? In this video: 00:25 – Should you aim for lots of small gains or target the homeruns? 01:05 – How do I get an 80% win rate? 01:46 – The solution is to trade higher time frame charts 02:28 – Place you stop loss for a reason 03:21 – Forget about making pips 05:00 – This shows how very important high reward:risk trades are to your trading success 06:12 – Black Friday 2016 sale How important is it to look for high reward risk trades as a Forex trader and how does that impact your overall profit? Let's talk about that and more right now. Hi Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach. Today is video and podcast number 204. Should you aim for lots of small gains or target the homeruns? And, I want to talk about a really important subject. I've had an email come through here from Robert over in the US and Robert said to me, "Andrew look, I keep getting told to go for small incremental gains per day instead of hitting the home runs." I can tell Robert's from the US because he mentioned home runs and he said, "I apologize for not using cricket terminology." He said to me, "Look, I keep doing this and the problem is that where I put my stop loss, it doesn't allow me a favorable reward to risk, so therefore I'm making lots of small gains and getting a few losing trades and of course the losing trades out do all the gains you made." How do I get an 80% win rate? It's quite a common problem. I get people who say to me, they say, "Andrew, how can I get an 80 percent win rate, a strike rate people like to call it, within my trading?" Well, why do you want to achieve an 80 or 90 percent win rate? Yes, on paper it sounds fantastic to get all these winning trades, but the reality is, if you have a system like that, in most cases you're going to find that if you have that one or two losing trades, especially if you get them back to back, that it wipes out all your gains that you just made and Robert was finding exactly the same problem from the advice that he was given. He said to me, "Hey Andrew, look can you give me some new advice, I suppose, or what's your take on this? How do I overcome the problem?" The solution is to trade higher time frame charts To me the answer is generally to get onto the slightly long timeframe charts. I find that generally the higher the timeframe chart, the higher the reward to risk I can get off of those charts and off of those trades. There are several reasons. Spread really doesn't pay much of a, it plays very little importance on a longer timeframe chart. Of course, if you're taking trades all the time on five or 15 minute timeframe charts, spread can soon eat into your profits but if you were taking trades you know, like maybe one or two trades a day on a longer timeframe chart, spread really isn't that sort of significant a factor really. Place you stop loss for a reason If you have a longer timeframe chart, you can generally place your stop loss for a safety level, at where it should be for a reason, not just because it's X number of pips away. On most cases that is a very, very bad way of trading because if you pick 50 pips, as an example, 50 pips on the euro/US is completely different to 50 pips on the euro/yen or 50 pips on the euro/franc even. You get pairs that move a lot and you get pairs that move a little bit. Picking the same pip stop loss is not a great way of trading and of course different timeframes require different levels. I like to say, let's put your stop loss at a level that if that stop loss gets stop out, you accept you got the trade wrong, the market went against you, whatever the reason but you accept that you lose on that trade. Forget about making pips If you forget about making pips and make that a percentage of your account if it gets stop out, that also helps you. The important thing is to try and look for trades that have a safe ...

Podcast: #203: How to Trade a Reversal and Retracement In this video: 00:28 – How to tell if the market is trending, in a reversal or a retracement 00:48 - The result of the US Election 01:21 – Strength in the USD and GBP 01:50 – A reversal or a retracement? 02:35 – I use Bollinger bands to help identify where the market is trading 05:30 – Consider the Daily strength to assist your trading 08:01 – Trading from the right hand side of the chart is what makes a good trader How can you tell if the Forex market is reversing or it's just in a pullback or a retracement? Let's talk about that and more right now. Hi Forex Traders, Andrew Mitchem here from The Forex Trading Coach, this is video and podcast number 203. How to tell if the market is trending, in a reversal or a retracement I want to talk about a question that I've been emailed from Darren in the UK who said, "Hi Andrew, can you talk about whether, or how to tell whether a market is trending, it's pulling back or it's in a reversal or a retracement?" It's an issue that we all face as traders. The result of the US Election I'm going to talk about that really shortly, but first before we get into that, I'll need to just talk about the US election because on last week's video and podcast, I said, I wonder what's going to happen? I suppose in all honesty, against all odds, Donald Trump will be very shortly the next US president, number 45 I believe. It just goes to show out there that you just cannot tell what's going to happen because of course all the polls were suggesting Hillary Clinton was a clear winner, but reality said that it was not to be. Strength in the USD and GBP Right now, actually the US dollar, although it was pretty volatile when it came out, the US dollar is actually strengthening a lot and interestingly, also is the British pound. I suppose with the British and the Brexit issue. In someways there is some similarities between voting for Trump, and so it's actually given strength to the British pound which is quite interesting. Just keep an eye on your charts and your trading, and really trade what you see on the charts. A reversal or a retracement? Back to the topic of today's video and podcast, how do you tell if you're in a reversal part of the market, or how do you tell if that trend is going to continue? Let's say the market is moving up and you get a reversal signal, and how do you know that's going to reverse the wrong way, or how do you tell that's just going to pull back a little bit and then continue upwards again and of course the same for a sell trade but in reverse. Really, it's very difficult. Right at the time of the reversal signal, it's very difficult you don't really know whether that's going to be the start of a massive change in direction or that's just going to be a slight pullback and then it continues again. I use Bollinger bands to help identify where the market is trading There's a few things that I use that can help you with to find out more, and I use Bollinger bands. I love Bollinger bands, they give me a fairly good guide to what part of the chart that prices in right now. Because, if you just have price on your charts, it's really hard unless you're of course, you're using support and resistance lines, and round numbers, which I use as well. Without Bollinger bands, it's really hard to see if the market is sort of likely to reverse or likely to pullback. I'll give you some examples. I'd love to use reversal signals when the market is ... When I see reversal signals and the market is nearly upper or lower Bollinger band. If you've had a lovely trend upwards, and go and look at your charts, it doesn't matter what time frame chart. You've had a really good move upwards, a good strong move upwards, and you see a great reversal signal, or potentially even better. An indecision candle, and then a reversal signal all showing around the upper Bollinger band.

Podcast: Do You Struggle to Understand Fibonacci Levels In this video: 00:23 – Difficulties with trading using Fibonacci levels – plus the US Election 00:56 - People struggle with using Fib levels in real time 02:11 – Big traders and banks use Fibonacci levels 02:45 – Fibs give me a great retracement entry 04:15 – No guessing with my entry and exit levels 05:05 – Drawdowns are kept to a minimum 05:54 – The US Election – Hilary or Don, who will win? Do you have a problem understanding Fibonacci levels? If you do, listen up. I've got some great information and of course, news about the upcoming U.S. election, so let's get into it. Hi Forex traders, its Andrew Mitchem here, the owner of The Forex Trading Coach. Difficulties with trading using Fibonacci levels – plus the US Election In today's video and podcast which is number 202, I want to talk about difficulties about trading with Fibonacci levels and of course, next week, we have the long anticipated and really, at this stage, who knows what the outcome's going to be, the U.S. election, so let's talk about the trading side of things first, and Fibonacci levels. People struggle with using Fib levels in real time Last week I said at the end of the video and podcast, "Drop me an email with questions that you have about your trading," and an overwhelming majority of people, a huge number of people, wrote and said, "Andrew, can you help us with understanding Fib levels, Fibonacci levels?" I'm not going to explain the whole "what are the Fib's, how are they calculated?" You can find that all online elsewhere, but the big problem that I found years ago when I started trading with Fibs is that they work beautifully in hindsight, a little bit like Elliott waves, if you have tried Elliott waves. You can see them all plotted on your charts, extensions and retracements and waves, et cetera, whichever you traded, Fib levels or Elliott wave, and you can see it all in hindsight because you know exactly where to draw your levels from and to and in hindsight, absolutely wonderful, but the problem that I found, anyway, is that in real time, I just didn't know where I was drawing levels. Am I at a swing high now or maybe at a couple bars later I might be at a new swing high, so therefore my levels are wrong, and to me it was an absolutely nightmare. I found it real difficult. Although I like the concept, in reality and trading from the right hand side of the chart, making the decision right now as the market's moving up and down, I found it virtually impossible to trade either of those 2 principles. Big traders and banks use Fibonacci levels But, as you know, if you've been trading for a long period of time, a huge number of technical traders in big institutions, big banks, et cetera, they use Fibonacci levels, so I was determined to try and find a better way of trading that suited me using Fib levels all those years ago, and today when I found something that worked, I still trade exactly the same way today, and that's exactly how I help and teach my coaching clients using the way that I have discovered and found Fibonacci levels worked for me. Fibs give me a great retracement entry What I love about Fib levels, the way that I use them, is that they give me a fantastic retracement entry, so it means I'm buying below the current price or selling above the current price, so I'm using limit orders, buy limits or sell limits. What that does is if the price retraces to my entry level, it gives me a far greater reward to risk on my trade, rather than just jumping in straight away on the close of the candle at the market, I'm waiting ... Let's say I'm buying. Rather than jumping in up here, I'm waiting for the price to retrace to a set level using my Fibonacci levels. If the price retraces there, the market automatically fills my trade. I'm not sitting there waiting for that price to happen. It fills me at that level,

Podcast: Looking after your Investments In this video: 00:29 – Managing your investments and retirement 01:02 - Retirement fund closes with zero gains 02:27 – 20 years of payments wasted 03:23 – Understand how to trade for yourself and look after your own future 04:30 – Made more trading FX this year than the retirement fund has made in 20 years 05:14 – Taking control of your finances 05:55 – Topics for future podcasts and videos 06:05 – US Elections approaching – be careful with your trade setups. Should you rely on someone else to help with your long term investments in your retirement, or should you take care of that for yourself? Let's talk about that and more right now. Hi Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Today, this is video and podcast number 201. Managing your investments and retirement I want to talk about something that affects all of us, when you think about your investments, when you think about longer term investments, when you think about retirement, how do you manage that? Is it something that you just handover everything to someone else and say, "You're the experts, and I've got no idea what you're doing with my money or my investments, but go and do it for me." Are you the sort of person who wants to take control of things for yourself and really understand what's happening, because after all, it's your money, and your investments. Which one are you? Retirement fund closes with zero gains The reason I want to talk about that is because of an experience I've had just today. Now, I flew to Tauranga, which is a beautiful part of New Zealand, today to see a client, who's just joined me. He's actually doing really, really well with his trading, just starting off small, but going very well. Through our conversation this morning, he said to me, "Andrew, I've got a bit of a problem." I said, "Okay, so feel free to share it if you wish to." He said, "I've been investing," and I'm not going to tell you the companies name, but it's a very well known retirement investment fund here in New Zealand. It's a global company for they have an office here, and he's been with them for 20 years, he's been paying money as a retirement fund into this company. I've just written and told him, now, I don't know the legalities with this, and it kind of doesn't quite add up, but this is what he's told me today. He said they've written to say, "You can take your money out now, but the money that you take out is only the money that you've put in over the last 20 years. No gains or anything like that." To do that, to have the privilege of taking his money out, they're going to charge him fee to do that, like an administration fee anyway, and that's quite a hefty fee. You think about that, money that he's paid in. 20 years of payments wasted After tax money that is put into this retirement fund for 20 years that he's been working, he's going to get exactly the same amount of money out today than what he's put in over those 20 years. No increase in account, no gains, nothing like that. Of course, with inflation and everything else, we're going to have what you put in, $1000, 20 years ago is not going to buy you very much today in comparison. Effectively, for 20 years he's put his money in, he's paid fees, he's done everything else, hoping that it's going to be his sort of nest egg for retirement, It's just not going to happen, it's completely out of his control. By everything they said to me today, he has little choice but to just take this money out. I suppose, like you were saying, the good thing is that at least he can get his money out, but it's not like he's got any gains or anything like that. Understand how to trade for yourself and look after your own future It got me thinking, and it got me sort of talking and discussing trading and Forex with him, and said, "Look, you know, yes you're on a small account today,

Podcast: Helping Forex Traders Around The World In this video: 00:28 – 200 Videos and Podcasts 00:42 - The Forex Trading Coach history – How it all started 01:44 – Broker asked me to help teach their clients 02:09 – Clients in 56 Countries today 03:29 – Great to help so many people with their trading 04:12 – I give 100% effort to help my clients 04:40 – Lots of free information available on my site 05:25 – Looking forward to the next 200 videos and podcasts This is video and podcast number 200. Over the next few minutes I'd like to explain how I've helped people all around the world and how I can help you as a forex trader so let's get into it right now. Hi, everybody. Andrew Mitchem here, The Forex Trading Coach. Today is video and podcast number 200. 200 Videos and Podcasts I'm very proud to have brought 200 videos and podcasts through to you over the last number of years. I hope there's been some great information and helpful tips that I'm giving out every week to help you develop further as a forex trader. The Forex Trading Coach history – How it all started In this video and podcast today, what I'd like to do is just go back a number of years and just let you know that The Forex Trading Coach actually started completely by accident. If you don't know how it started, well, let me explain. As a forex trader, I was making some good gains, making some good profits, and I started selling, trading signals about eight years ago. As a result of people doing very well from receiving my emails once a day, I had a number of people that over time wrote to me and say, "Hey, Andrew. Great. I'm receiving your emails. I'm making some money but come and teach me how you're doing that." I thought, "Well, I can do that." My very first client, I flew to Noosa, beautiful part of Australia up on the Sunshine Coast. I spent about four days with the guy over there. That was seven and a half, maybe eight years ago now. I had a great time and helped him to develop his trading. He enjoyed what I had to teach him and came back home to New Zealand, carried on trading. Broker asked me to help teach their clients Then my broker at the time came to me and said, "Look, you're doing well. You obviously doing well with your trading yourself. Can you come and help some bad clients?" That developed into me going up to Auckland in New Zealand gulf island here and helping some clients doing some tuition for people. Anyway, the whole thing spread from there and the development of The Forex Trading Coach happened from there. Clients in 56 Countries today Anyway, jump forward to today. As of today, I have actual teaching clients, coaching clients in 56 countries around the world. I'm very proud of that achievement. There's a lot of people that have been helped from all parts of the world. It's not just about actual people who have decided to pay for their education. There's a lot of information that I've proudly helped so many other people with as well. I've just got some numbers here for you. Three and a half thousand people have joined my free course that I launched in July of this year, just a few months ago so three and a half thousand of those. Over 13,000 people have downloaded my free Lot Size Calculator. 11,000 people have read my eBook. There are nine and a half thousand people who attended my free webinars that I hold each week. Over 14,000 people received this video and podcast who have chosen to receive this by email every week and of course many more watch it but who actually received it directly by email each week. 343,000 people have listened to my podcast on iTunes which is a phenomenal figure. Great to help so many people with their trading All of that puts together and I'm proud of what's happened. I'm really satisfied when I hear people say, "Thank you so much for this tool or for this bit of advice. It's helped me turn my trading around. I'm now trading successfully." To me,

Podcast: Don’t Give Up On Your Forex Trading In this video: 00:35 – Start small and get yourself educated 01:32 - People are too quick to give up as soon as it goes wrong 02:14 – Don’t give up – you need to control your emotions 02:56 – You cannot control the market 03:44 – I’ve posted daily trades for 7 years consistently 04:32 – Daily trade suggestions up more than +36% for the year so far 05:30 – You will get losing trades – it’s a fact of trading Giving up Forex Training should not really be an option for you. Let's talk about that, and more, right now. Hi Forex Traders, it's Andrew Mitchem here The Forex Trading Coach. This is video and podcast number 199. In this video and podcast, I want to talk about why you should not give up trading. It depends on how long you've been trading, depending on which side of the fence you're on. Start small and get yourself educated You see, each week I get a huge number of people come to me and they say, "Look Andrew, I'm new to trading. I've never traded before, but I think that I'm going to be really good at it and I think I've got the personality to be a great trader and make all this money and give up my job. I'm just going to be so good at trading, what do you think?" I say, "Well calm down. You've got to be real about this." Because people think that just because they're good at one thing means that they can just suddenly give it up, jump into trading and be perfect. A lot of the time this is against what they want to hear, of course. They want me to go, "Yay! Go for it! Fantastic!" I say, "Yeah, go for it. Wonderful. But ... Start small, start on a demo account, get yourself educated, get yourself a system, et cetera. Go through, get bigger, go live, be consistent, and then yes, you'll figure out if you can trade or not." People are too quick to give up as soon as it goes wrong The other end of the scale, we get people who have been trading for a long time and it just doesn't work. It's all wrong, I'm going to give up. It's my broker's fault. My computer's fault. My wife's fault. The dog's fault. Doesn't matter whose fault it is, but it's everybody else's fault. I've been doing it for so long, and I've just had enough and it's not working. You get that sort of feedback as well from people. Luckily not clients, these are just people who are approaching me for their last bit of help. Depending on which side of the scale you are, new or angry, frustrated, annoyed, ready to give up person. I urge you, don't give up. Whichever you're at. Don’t give up – you need to control your emotions Because as you know trading Forex is just so fantastic, but you've got to of course have a strategy and an understanding of the markets and make it work. What you also need is a calm, level head. Keep your emotions under check, under control, approach to trading. Really that is one of the big keys to trading. These people that go, "I'm going to go onto another system and it's doesn't work and it's rubbish! I've had three losing trades in a row, I'm going to change and buy another indicator," it's not going to happen. Because you have to understand that trading. You cannot control the market The markets are out of your control. You have to have a strategy that you can keep trading, keep doing. Being methodical, have a routine, have a plan. All those things together. Everybody has losing trades, losing days, losing weeks, losing months. It happens. We all have them. We have good trades, and when you have good times and good trades celebrate it. Yeah, it's great, it's wonderful, your account size is growing, you've made some money, wonderful. But do not get greedy with that. Don't suddenly start thinking you're indestructible and you're going to double your position size. "I don't need a stop-loss, I'm just going to take random trades." You know the end result from that is it will get you in the end.