An Interview with The 5%ers Prop FirmPodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowVisit The5%ers Website. Click here!#530: An Interview with The 5%ers Prop FirmIn this video:00:27 – There’s a lot of interest in prop firms right now.01:37 – What makes a trader a successful prop firm trader.03:50 – You must be able to trade first.04:58 – Different account types with The 5%ers.05:38 – What’s the payout performance ratio?07:00 – What makes The 5%ers a better prop firm?09:48 – Our clients have success with The 5%ers.12:00 – Prop firms can remove emotions from your trading.13:37 – Contacting The 5%ers.Andrew MitchemHi! Everybody. Andrew here at the Forex Trading Coach, welcome along to this week's weekly video and podcast. Something different for you this week. I am joined by Saul who's the manager of the firm called the 5%ers. Welcome along.Saul LokierYeah, thank you, Andrew. Thanks for having me.There’s a lot of interest in prop firms right now.Andrew MitchemAwesome to have you here! Yeah. Look, we’re getting a lot of people interested in prop firms. Now, I know you guys have been around since 2016, and I can see on your website, which is probably one of the oldest prop firms around. Could you just give everybody a bit of an overview of what you do, what a prop firm is for those who don't know and how traders can take advantage of using a prop from.Saul LokierYeah, good start. So basically we are recruiting. We're looking for traders, retail traders to get evaluated by us, you know, through our challenges, through our evaluation programs. And once they complete those challenges to come and start managing our capital. So you might be familiar with the old prop firms in which, you know, you have a few amount of traders managing very large amount of accounts of money.Andrew MitchemYes.Saul LokierSo we're doing something similar. But instead of giving, you know, billions of dollars for management to a few traders, we have many, many traders. We have literally thousands of traders managing relatively small accounts. So so that's the idea.What makes a trader a successful prop firm traderAndrew MitchemYeah. Nice. And over those that time, what have you found is the right type of person to be more successful. Like, is it a trading style? Is it a money management thing? Is a mindset thing. What in general would sort of make the more successful person?Saul LokierIt's the view that you answer me because, you know, back in the day before started managing the company, I, I used to spend a lot of time talking to our traders and talking to our higher funded traders. And I started doing a little bit of research what this traders had in common, because, you know, I saw some of them use indicators and some of the used some of them used to live in Australia and some of them live in the US.Saul LokierSo I wanted to understand what they were doing, you know, the same way. And amazing is very simple things that arbitrated and start doing. But these traders really do it. Okay, so the first thing is these traders master what they do. These traders know the strategies inside out. So I could ask them. “Andrew, what’s a poor quality set up for you?” and they could tell me I could ask them, when shouldn't you be trading?Saul LokierAnd they could answer. So they knew all the rules, all the, you know, all the parameters over the strategy, everything. And so so they really instead of jumping from a strategy to strategy or system to system, they really must, you know, what they did. So that's number one.Saul LokierThe second is they they keep track. They really you know, they backtested, they they they journal what they do the journal these sales, they they journal their trades and they you know,
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#541: How to make Hundreds or Thousands of Dollars per Trade3/24/20248:28How to make Hundreds or Thousands of Dollars per TradePodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Watch Prop Firm Masterclass#541: How to make Hundreds or Thousands of Dollars per TradeIn this video:00:26 – How anyone can make hundreds or thousands of dollars per trade.00:59 – Trade with the trend.01:38 – Reversals and Continuation candle patterns.02:11 – AUD/CHF H12 chart hits profit.03:20 – Use Prop Firms to scale up your gains.04:08 – AUD/CAD D1 trade hits the profit target in 5 hours.04:45 – You cannot take every Continuation pattern as a new trade.06:46 – Trade through Blueberry Markets.07:38 – Attend my Masterclass, Prop Firm webinar and book a call with us.Today, I'm going to show you how you can make hundreds, if not thousands of dollars per trade in just a matter of a few minutes per day. Let's get into that and more right now.Hey there, traders! It's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 541.How anyone can make hundreds or thousands of dollars per trade.So today I want to share with you how you, anybody it doesn't matter where you live in the world can make hundreds, if not thousands of dollars on a single trade. That takes you just minutes per day of chart time to see and to take.It's a really exciting opportunity that Forex offers. And the important thing for me is as a trader, I like to have high probability trades. You see, it's not so much by how many trades you take. It's about the quality of the trades.Trade with the trend.Now you've probably, if you've been trading for any length of time, heard the phrase about trading with the trend and it's a fairly logical phrase and expression because it makes sense, doesn't it?If the market's in a big uptrend that you should be taking buy trades. However, it's not quite as easy as that. And the trouble is a lot of people see a big trend and then they go, it's in an uptrend. I'm going to take it buy trade. And of course the market hits a high, turns around and stops and they take a loss.That is the danger that most people are reactionary and only see it's an uptrend after it's already done and completed and it's back to then turn back the other way.Reversals and Continuation candle patterns.For me as a trader, I trade two different patterns. I trade reversal patterns, which does mean selling at the top of an uptrend. But my favorite and preferred pattern is a Continuation Pattern.Now, I'm going to give you two examples from just this week of continuation patterns. So you can go and have a look at your charts. If you're watching, YouTube will probably put these on screen so you can see them. Obviously, if you're on a podcast, then you just have to go and find them on your charts. But two trades to give great examples of what I mean by continuation patterns, both profitable trades for us this week.AUD/CHF H12 chart hits profit.The first is a 12 hour chart trade on the AUD/CHF. If you go and have a look at the AUD/CHF from the 18th of March 2024, look at the 00:00 candle. So it's the completion of that candle, which means that the day starts at 5 p.m. New York time, but it means that that candle then closes at 5 a.m. New York time.So have a look at the charts. The 00:00 Opening Candle, The AUD/CHF 12 Hour chart 18th of March 2024. Go and have a look at that pattern and hopefully we'll get that screenshot put on here so you can see if you're viewing the video. We took a buy trade there. What happened? The market moved up, it pulled back, we waited for it to pull back and then we waited for a confirmation signal to go long again, trading in the main direction.But after that pullback and as you can see, we took a really good trade there. And even on a small account,- #540: How to Survive a Financial Crisis3/17/202410:34How to Survive a Financial CrisisPodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Watch Prop Firm Masterclass#540: How to Survive a Financial CrisisIn this video:00:24 – How do we survive the next financial crisis.00:57 – Increase income, decrease expenses and save more.02:55 – What are my thoughts?03:36 – You need to change your mindset.03:58 – Plan and prepare.04:54 – Upskill yourself today in preparation.06:31 – Forex offers so may more benefits.06:51 – Live webinar with trades and my account is at +2% gain for the week to date.07:57 – Trading with a prop firm.09:02 – Give yourself 6-12 months to learn how to trade properly.10:00 – Trade through Blueberry Markets.10:06 – Attend my Masterclass, Prop Firm webinar and book a call with us.Today I'm going to talk about how you can plan for, prepare for and get through the next financial crisis. Let's talk about that and more right now.Hey there, traders! It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 540.How do we survive the next financial crisis.Now, I ask people to give me some topics to talk about, things that will be helpful for you. And one of the main topics those come up is how do we survive the next almost certainly coming financial crisis? So to start and to prepare for this, what I've done is had a look on the Internet and I want to talk about what they suggest and then my thoughts after that.First of all, I have to let you know that what I'm about to say is not financial advice. It's purely my own thoughts and opinions, which may or may not work for you.Increase income, decrease expenses and save more.So did some research online, typed in how to survive a financial crisis. Upcoming standard answers of #1 increase your income, #2 decrease your expenses and #3 increase your savings. Quick overview on those.Increasing your income. How are you going to do that? Well, you probably going to if you're in a corporate job, work harder and up the ladder, which means less time at home, etc. like that. More stress. You may be working more hours in your current job. Not a great outcome either. Or you might be going there for a second or third job. Again, not a great outcome. So there's better ways you can do that.Number two, and decreasing your expenses is something that most people can do. From my own point of view, we like to be completely self-sufficient here. I say we're about maybe 80-90% self-sufficient in what we eat at home, and we choose to do that. We choose to grow our own food as much as possible with our own, you know, the fruit, vegetables, meat, etc. like that.Everything we try to do is our own choice for health reason and enjoyable reason of actually growing and eating our own food. We know what we're eating and less reliant on the system, on the supermarkets and the crazy inflated prices out there. So that may or may not be something you could do as an example.The third one to increase your savings. Not very practical for most people around the world, giving the cost of living just as an example, we've had interest rates come off here. Just last week, for me personally, at 2.79, they wanted it to float it at eight point something or fix it at seven point something. Just massive expenses going up there for everybody. A cost of living, a cost of groceries, food, as we've mentioned.Your fuel, your rate, your taxes. You know, everything goes up and up the whole inflation. So saving more for most people was not really a practical outcome there. So Bense what the Internet saysWhat are my thoughts?These are now my thoughts of what you potentially could do because for me surviving or anything financial, a lot of it comes down to your mindset, your thoughts, your emotions.
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- #539: Forex Trading’s Preflight Check: Building Your Plan3/10/20245:46Forex Trading's Preflight Check: Building Your PlanPodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Watch Prop Firm Masterclass#539:Forex Trading's Preflight Check: Building Your PlanIn this video:00:34 – Heading off for a flight and carrying out my checks.02:01 – You need a trading plan.03:00 – Put in the time to ensure a good outcome with your trading.03:45 – The market does not have even trading conditions.04:42 – Trade through Blueberry Markets.05:06 – Attend my Masterclass, Prop Firm webinar and book a call with us.Today, I'm going to discuss the importance of learning to plan properly, planning your training, See now exactly what you're doing, whether you're flying a helicopter like behind me here, or if you're trading the forex market, you have to plan properly. Otherwise, you plan to fail. Let's get into that a more right that.Hey there, Traders! Andrew here, at the Forex Trading Coach, a video and podcast number 539.Heading off for a flight and carrying out my checks.As you can see, I'm out at the hanger. I'm heading off tomorrow morning. Quite early on a flight, quite a long flight, probably about a three and a half hour return flight. And so as a result of that, I'm spending some time here today when there's no pressure and I'm going through my entire preflight and doing all my checks.I've got my my flight plans here. I've got my airports where I'm going to inside here. I've covered everything I need to know in terms of the co*ckpit. I've got a huge manual here. It's about 800 pages that's just specific to this machine. And on that, I have to know all that. Of course, long before today. But you know, you've got to keep updated on that.I've been through the machine here. I've checked through and, you know, engines and oils and up on the rotor blades there. I've checked everything. All my preflight checks and the tail here, everything is checked. My fuels good is clean. It's all on board. I know exactly what I've got. I know where I'm going. I know my radio calls.I'm discharging my headsets up. So that's ready. I've got a spare batteries. I've got my iPad. I've got my phone. I've got everything I need to know to do the flight properly, safely, and, you know, to get a good outcome and enjoyable experience for everybody on board and to know what's going to you know, we're going to get there safely and just have a great day.You need a trading plan.So me doing this is no different to me trading. You know, I've got my plan and this is what I want to stress to you, that I just see so many people that don't have a plan, don't know what they're doing. You wouldn't believe the number of emails that I get saying, Look, I've been trading for six months and I go back and I go, Great, Well, you've obviously got a problem because you're contacting me.So. So what are you doing? And they go, I'm just putting on, you know, one lot on this trade and I'm trading, you know, different times of the day. They trading. They don't know what they're trading. They see something all that, let's say a daily chart that's telling a buy on an hourly chart. They're saying sell. They don't know what to do.There's no light, there's no money management, there's no risk management. There's no no, no strategy at all. They don't know why they're doing what they're doing. They just know they want to trade forex. And because they're probably seen it's really good and seen something on YouTube or somewhere.Put in the time to ensure a good outcome with your trading.And that becomes the problem is that people don't put enough preparation time into learning the skill that they want to be good at.And you know, it's like anything is like flying this thing. There is nothing that beats flying.
- #538: 7 Points to Help Develop Your Own Trading Plan3/3/20248:347 Points to Help Develop Your Own Trading PlanPodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Watch Prop Firm Masterclass#538: 7 Points to Help Develop Your Own Trading PlanIn this video:00:25 – 7 points to help develop your own trading plan.00:36 – #1 Your personality.01:15 – #2 What type of trading do you like?02:16 – #3 What are your goals?02:55 – #4 Risk management.03:51 – #5 Know your strategy.05:16 – #6 Demo, live or a prop firm?05:50 – #7 Journal and record your trades.07:10 – Attend my Forex Masterclass.07:19 – Prop firm Masterclass.07:40 – Book a call to chat with us.07:52 – Blueberry Markets.Today. I'm going to give you some helpful tips and information to help you to develop your own trading plan as a forex trader. Let's get into that and more. Right now.Hey there, Traders! Andrew here at the Forex Trading Coach with video and podcast number 538.7 points to help develop your own trading plan.Today is all about developing a trading plan that's going to work for you. I'm going to give you seven points. That's going to be something that if you put this together. Massively help you.#1 Your personality.Let's start with point number one. So first of all, you have to understand yourself. What type of person are you? What personality do you have? What what makes you tick? You know what you like as a trader. Now, I find that naturally most people, when they start trading and I did exactly the same almost 20 years ago myself. They tend to navigate through to the shorter timeframe charts, the one minute, five minute, 15 minute chart.Some people think that's the where the most opportunities are, where the most money is to be made, and that's why people do that. And then they realize that probably doesn't work quite as well as they thought it might do. And then they start to look at something a little bit longer timeframe charts.#2 What type of trading do you like?So figure out where you are on your trading journey and what type of trader you are. Are you someone that likes to watch the news? I'm someone that likes to watch the charts. Are you a fundamental or technical trader? And then what you need to do there is work out the trading style and that will become, you know, in the cooperation of both of those two. Possibly it could be, you know, looking at the longer timeframe charts, this sort of more medium timeframe or the shorter timeframe.So look at what works for you. If you're out there, you know, you've got family, you've got travel to do, you've got work to do, you've got music, sport, whatever it might be, you might go, Well, you know what the reality is? I only want to look at my charts maybe just once a day or a couple of times a day or just a few times a week.Therefore you're going to have to go to those longer timeframe charts. You may go, Well, you know, I've got a couple of hours. I can look at the European session or the US session a few days a week, and therefore I might look at say, the 30 minute, the one hour, the four hour timeframe charts or blend whatever works for you.#3 What are your goals?The next thing you need to do is define your goals, your personal goals, your financial goals, the time goals as well. Don't forget, time is really important. You know, it's all well and good to write down. Say I'm going to make 10% every month and I'm going to do this and I want to do that. But also is you got to realize that to do this successfully and properly, it's got to work around what your time restrictions are. Everybody has time restrictions. We all have 24 hours in a day. It's what you do within that day that counts. So how much of that time per day or per week do you want to dedicate to learning or trading or studying charts or watching news events?
- #537: The Realities of Learning How to Trade2/25/20247:08The Realities of Learning How to TradePodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team now#537: The Realities of Learning How to TradeIn this video:00:26 – A trading reality check.01:00 – Do you want it now or can you wait?01:41 – Adults are no better than children at wanting instant gratification.02:23 – How much can I make?03:23 – Doing the hard work first.04:33 – Not everything will go in your favour.05:09 – Don’t knock someone who’s trying to help you.06:00 – We can help you if you would like to trade well.06:26 – Book a call with us.06:38 – Blueberry Markets.Today, I'm going to talk about the realities of learning how to trade properly and why it's probably not quite as easy as you think it might be. Let's talk about that and more right now.Hey there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 537.A trading reality check.Now today it's a bit of reality check. And it's kind of like not being grumpy day, but just wanted to keep things real. I've had just a few interactions with people over the last week or so that just got me kind of beating my head against the wall. One was a client and the other is not a client, and it just makes me realize that there's so many people out there that are not real with their trading.Do you want it now or can you wait?Now, you may have heard about the experiment. I don't know who did it. It was quite some number of years ago where they got a bunch of kids, put them in a room, and they said to them they put like a sweet or lolly chocolate and in front of them and said, You can have one right now. But if you wait, you know, 15 minutes, we'll give you three.And of course, most of the kids go, I'm just going to take the one that they can't comprehend. You know, if you just wait for a little bit longer, you'll get three times the amount for just a little bit of, you know, dedication. And that was a kid's experiment.Adults are no better than children at wanting instant gratificationNow, I think the same logic, unfortunately, applies to so many adults today as well, now that whether it's me, show my age or what, I don't know, but whether it's, you know, an instant gratification thing, whether it's a cell phone thing, an Internet thing, a Netflix thing, you know, another thing, everything just seems to be instant.And people unfortunately don't seem to be able to. A lot of people anyway, don't seem to be able to. And accept the realities of hard work, dedication and a bit of time, commitment and effort. And also not an instant answer, an instant fix.How much can I make?Now, I want to talk about that because I think that you've got to get your head around that if you're going to give yourself a realistic chance of being a successful fighter because everybody wants to know how much am I going to make, how long is it going to take me, how much do I need to my account?How many prop firms do I need? All these? How to what's the answer? And without actually figuring out that they need to actually study and listen to people that have done this before and not only ask questions, but when someone gives you an answer in their best interest is to help you listen to that answer and possibly accept it.And I find that people struggle to do that. And maybe it's because it's not the answer that they want or it's not the quick fix solution. It's not the you're going to become a multimillionaire next week solution. It's and that kind of thing. I just I struggle with, I suppose, because I suppose I'm about a year away.Doing the hard work first.You know, you did the hard work moving to New Zealand with a couple of suitcases to the other side, the world, you know, with no Internet back then and no cell phones and, you know,
- #535: What’s a Sensible Amount of Risk to Take per Trade2/11/20245:40What’s a Sensible Amount of Risk to Take per TradePodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team nowClick Here to Download my Lot Size Calculator#535: What’s a Sensible Amount of Risk to Take per TradeIn this video:00:26 – Preserving capital.00:40 – Control your emotions.01:31 – Have a low and known risk per trade.02:20 – Most people suggest a 3-5% risk per trade.03:40 – A +2% gain for the week.04:38 – Attend my Masterclass and book a call with us.04:57 –Trade through Blueberry Markets.What's the sensible amount of risk the issue should take for each trade that you place as a forex trader? Let's talk about that important subject and more right now.Hey there, traders! Andrew Mitchem here, the owner of the Forex Trading Coach video and podcast number 535.Preserving capital.Today I want to talk about risk preserving capital, keeping your drawdowns low. And it all comes back to how much should you place on a trade in order to be a successful trader.Control your emotions.You see, for me in trading, there's two things you have to control. One's up here, the head ones in his heart. You have to keep those emotions under control. And you can do that quite easily by controlling your risk, because the fear and the greed always come into the trading as self doubt. But then greed when it comes to making money. Risk management is absolutely crucial. And unfortunate, far too many people don't know that and they don't know how to control that and they don't know how to implement that practically on day by day basis into their trading.You see, I think there's a lot of people out there that just don't know how much risk they're placing on a trade that is place to trade. And they got I've got a 20 pip stop loss and I'm going to put one lot on it or 0.1 lots. Because that's just what they think they should do. That is not how you trade.Have a low and known risk per trade.For me, the best way of trading is to have a known and low risk on every single trade. So you go into a trade and it doesn't matter what the currency pair is or even what the market is. I've taken a trade on Corn this week, you know, and it doesn't matter where it's corn on a weekly chart or the EUR/USD on a four hour chart, it doesn't matter.Every single trade has the same risk. It's known and it's low. So you have to adjust your position. Size according to a stop loss needs to be in order to calculate that. And it's very easy. And I have a free lot size calculator that does all that for you. But by doing that it means that every single trade that I take has the same risk, and by doing that, I can control my emotions and I can control my drawdowns.Most people suggest a 3-5% risk per trade.Now, you have a search out there online, and you'll find that most people will tell you to risk somewhere between about a 3 to 5% risk per trade. I think that's utterly crazy. You know, you have, let's say four trades go wrong and you're instantly 20% down on your account. Now, you need a lot of good trades to go right to make that 20% up just to get to break even. Now, that in itself is not a good way to trade.For me personally, I risk half of 1% per trade. So my four trades go wrong. I'm now 2% down. When I'm trading on a prop firm, I risk half of that again. So I risk only 0.25% risk per trade. In other words, if four trades go wrong, I'm now 1% down.That is within the rules, the criteria of a prop firm. It means I can have multiple trades all go wrong in a row, which is incredibly unlikely to happen. But let's say it did before I get anywhere near the maximum drawdown at most prop firms, which is somewhere between so maybe 5% or 6%, that will never happen if you're trading such a low risk per trade.So it's really important that you preserve capital.
- #534: The One Secret to Becoming a Successful Trader2/4/20247:07The One Secret to Becoming a Successful TraderPodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team now#534: The One Secret to Becoming a Successful TraderIn this video:00:26 – What’s the one secret to becoming a successful trader?00:47 – 8x Monthly chart trades for February.02:24 – Benefits of trading the Monthly charts.03:05 – Also we’ve posted 5x D1 trades and 2x H12 trades.03:46 – A live 2 hour webinar with our clients.04:09 – Trading the longer time frame charts is also more enjoyable.05:36 – Most newer traders want to be scalpers.06:19 – Blueberry Markets06:31 – Join my 1 hour Masterclass https://theforextradingcoach.com/forex-training-masterclass/I've got asked this week what would be the one secret I would give to someone who is looking to become a successful trader? Let me share that with you and more right now.He there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 534.What’s the one secret to becoming a successful trader?So this week I got asked on a webinar by someone who's looking to trade, and they said, Hey, Andrew, if you could keep one secret in trading to help me to become successful, what would that be? And to me, it's quite simple. It's looking at the longer timeframe charts. And today's a perfect example.8x Monthly chart trades for February.So I'm making this video on Thursday, the 1st of February day earlier than normal. And the reason I'm doing that is because I've just taken the February monthly chart trades. And on our membership site we identified and I've placed eight trades on the monthly charts. So based on the January candle close taken at the beginning of February, and with those trades because the longer timeframe charts, they have many advantages.One, you don't have to be that your charts at the exact time that they you know the new day opens or the new candle opens and you've got hours, days, maybe even longer. And especially the way that we trade with using limit orders or retracement orders as well. It also means that not only are those candle patterns higher quality because they contain more information, more data.When you think about it, they contain the whole month months worth of price action. So when you get a high quality set up are all showing in the right positive chart, it's going to have a higher probability chance of working. Today, most of those trades, those eight trades have taken a continuation trades. So they are continuing the main longer term trend.But after a recent pullback over like, you know, let's say October, November, December, January and they're they're ready to then head up or down again in the overall bigger picture. So that again, adds more weight, more credibility, more probability to the trades.Benefits of trading the Monthly charts.On top of that, because that monthly chart trades the rewards, the risks are even better as well.Spreads becomes almost like completely insignificant. And so with the trades that we've taken, they all range between the 3 to 1 is the smallest reward to risk. So let's imagine if you're risking, let's say half of 1%, one and a half percent is the smallest gain I'm going to make on a profitable trade. But the the biggest gain is a 6 to 1 trade.So that means half a cent risk means I'm making a 3% gain. If that trades hits its for profit target and so they all range between 3 to 1 to 6 to 1 On those eight trades I've taken.Also we’ve posted 5x D1 trades and 2x H12 trades.Not only that is today, I've also taken five trades on the daily charts that have all been published on our membership site for our clients to follow.But we also put 2 12 hour chart trades on that. So you've got the eight monthlies, the five daylies it's 13. 2 on the 12 hour chart.
- #533: Trading Full Time in 30 Minutes a Day1/28/20246:24Trading Full Time in 30 Minutes a DayPodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team now#532: Trading Full Time in 30 Minutes a DayIn this video:00:31 – At the beach and trading just twice a day.01:04 – 2 trades taken on the D1 charts and 1x H8 and 1x H12 trade.02:10 – Look at the charts twice a day.02:46 – A 3% gain from Wednesday’s D1 trades.05:18 – View my Masterclass.05:30 – Book a call with us.05:39 – Blueberry Markets.In today's video and podcast, I'm going to explain why I much prefer trading the longer timeframe charts. Looking at my charts a couple of times a day and being able to enjoy life. So let's talk about that more right now.Hey, the traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 533. Something a little bit different today.At the beach and trading just twice a day.I'm at the beach. This is called Rabbit Island, just out of Nelson. Now, way back there somewhere, my daughter and her friends on their horses going for a ride. Why am I telling you this? Well. Because that's the beauty of trading. The longer timeframe charts. You know, I don't need to be sat at home right now, sitting on my computer, just glued to say, like five minute charts, 15 minute charts, just waiting for something to happen, almost forcing something to happen. Because that's when I'm ready.2 trades taken on the D1 charts and 1x H8 and 1x H12 trade.Instead, I took two trades today on the daily charts. I took a sell on the Pound/Franc and I sell on the US/Franc and I'll take in a buy trade on the Pound/New Zealand and a buy trade on the Euro/New Zealand on the 8 and 12 hour charts.So four trades, they took me maybe 15 minutes all up earlier today at the 5 p.m. New York change of day to look at my charts, put the trades on after six because that's when the spreads drop. I'm using limit orders anyway, so it doesn't matter where you live in the world or what your time schedule is, you can take those trades and that then frees me up for the rest of the day.I'm going to have a look at later tonight my time, which is then 5 a.m. New York time, and at that time I'll scan through the 12 hours, the 6 hours, maybe the 4 or the 2It has nothing happening on the higher timeframe charts, but most days we tend to stick to the 6 and 12 hour charts. Why? Well, because there's plenty of opportunities there.Look at the charts twice a day.And so what that means is by looking at my charts just twice a day, I can come and do things like this. I'm probably spending half an hour, absolute max chart time. I know the pattern, so I'm looking for the currency pairs. Well, I'd look at strength and weakness, but if the currency pair is showing the setup to me, it doesn't really matter what the pair is.Just because I live here in beautiful New Zealand does not mean I wouldn't need to trade the New Zealand dollar. I'll trade whatever showing the set ups as mentioned today. Pound/Franc, US/Franc both selling those two on the daily charts.A 3% gain from Wednesday’s D1 trades.Yesterday I took a Euro/New Zealand Daily chart trade and I took the Hong Kong 50 index and the China H index.Quite unusual, but that was the market or those were the markets that were showing the setups. And guess what? The set worked. We had our retracement all this filled up beautifully and by the time I woke up this morning at the both trades to pull back, there were buy trades. Both traders said pull back got filled absolutely perfectly.And then turned around going up to the profit target. Absolutely perfectly. So we got those trades, absolutely pinpoint, accurate and made some fantastic returns on those. They were about I think there are 2.8 to 1 return. I think one might have been 3 to 1 return. And so a small risk, you know,
- #532: Making 2024 The Year You Become a Successful Forex Trader1/21/20246:34Making 2024 The Year You Become a Successful Forex TraderPodcast:Signup For my Forex MasterclassFind out more about Blueberry Markets – Click HereFind out more about my Online Video Forex CourseBook a Call with Andrew or one of his team now#532: Making 2024 The Year You Become a Successful Forex TraderIn this video:00:26 – Why you need to make this year your trading year.01:28 – Australian employment figures crash.02:09 – Give yourself plenty of time and seek help.03:33 – Joining a community and start on a demo account.04:32 – Start with the basics.05:18 – Trade through Blueberry Markets.05:35 – Attend my Masterclass and book a call with us.How are you going to ensure that 2024 is the year that you become a successful and profitable trader? Let's talk about that and more. Right now,Hey there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 532.Why you need to make this year your trading year.It is all about 2024. How are you going to make this year, the year that you become a successful trader with no doubts at all?This is the year for you to do it. How are you going to do that? Well, have a look around the world and I'm going to show you why you need to do it first. You know, you have a look at what's happening around the world with cost of everything, inflation rates. You know, look at how much it costs to book a flight.Look at how much good quality food cost these days and how many people are out there. Cannot afford good meat, good vegetables. And so therefore, they're living on really poor, low nutritious food because that's all they can afford and sugary drinks and things like that. You know, it's everywhere. Look around your town. How many shops in your local town do you see either closed or boarded up, you know, going out of business and people can't afford to pay staff. People aren't going to restaurants.Australian employment figures crash.There's all these kind of issues going on out there and, you know, look at just yesterday from Australia, across the ditch in Australia, their monthly employment figures, they were expected to have 15,000 jobs created. That result came out as -65,000 jobs. So look at the job losses going on around the world.So put all that together and everything else that's happened over the last few years and the craziness that's going on in the world.And, you know, you realize you're kind of on your own. You're fighting for yourself. So event doesn't give you motivation to go. You know, this year I'm going to learn how to trade. Then I can't help you.Give yourself plenty of time and seek help.So let's start sensibly. Let's give ourselves time. While it's not absolutely critical, you see, when I get people come to me and they go, Andrew, I want to give up my job, you know, in two months time, and I want to become a full time trader or I've got, you know, like $500 and I want to make, you know, like $10,000 a month type of thing.You know, I get these crazy questions all the time. You know, those people aren't real. Now, the important thing is, is with anything that you're learning to do is to seek help from people that are successful in that field and also to start slow. Don't rush. Do the groundwork properly. If you've ever done any form of painting inside your house, let's say the preparation is the boring but important work putting the paint on at the end, the last coat of paint, which makes it all look nice and shiny.Yeah, that's the easy bit, but unless you do the preparation first, the rest of it is going to fail. So trading is exactly the same. So while we're not under this and, you know, massive pressure of needing to have to make money today, you know, for most people around the world, the world's still surviving just while we're at that stage. Use this kind of lower pressure time and say to yourself, I'm going to dedicate this year to learning how to do this properly.
