Online Forex Trading Course

You Can Be Profitable With A 37% Win Rate Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #633: You Can Be Profitable With A 37% Win Rate In this video: 00:43 – Win Rates in Trading and a Simple Example 01:26 – Percentage Risk for a Trade/Risk Management 02:08 – Client Ryan achieves 9% with a 37.6% win rate 02:46 – Outside world win percentages for Roger Federer, 03:15 – Casino games win rate, need 55%+ 03:57 – Sports betting win rate, need 55%+ 04:48 – 95% traders lose, only hear about the 5% winners, winning AND s 05:33 – 2 ways to react to losing trades, one preferred way 06:17 – Taking the good with the bad: celebrate wins and deal with losses How would you like to be a consistent and profitable trader with a win rate in the mid to high 30s or low to mid 40s? Impossible? It’s not. And how do we react to losing trades? Let’s talk about that and more right now. Hello this is Paul Tillman. I’m the Director of Coaching Services at The Forex Trading Coach here at my home in the Raleigh, North Carolina area. And this is video and podcast number 633. I want to talk to you about 2 things: win rates and losing trades. Win Rates in Trading and a Simple Example So win rates which is simply the number of trades you’re winning divided by total number of trades that you are taking. So let’s do a simple example here. Let’s say you take 2 trades. First 2 trades you lose your risking $100 per trade and you’re down $200. Let’s say the 3rd trade that you take is a winning trade. And your reward to risk is 3 to 1, as in your win is 3 times what your loss is. So you’ve won $300 on that trade. Now if we add that up you have 2 losing trades at -200 and 1 winning trade at +300. So you’ve made a net gain of $100. And with 33.3% win rate. Percentage Risk for a Trade/Risk Management And as always we suggest taking a quarter or a half percent risk on the actual trade that you take. Risk management is very key, and so is consistently getting that reward to risk. So you can be a profitable trader at 33.3%. Now if we extrapolate that on all the trades that we take on our live webinars, on our form site and our chat room area for our daily trade suggestions, which is like a newsletter we put out each weekday. Extrapolate that out to tens and hundreds of trades in a year, and you can do very, very well with a win rate that’s much lower than 50%. Client Ryan achieves 9% with a 37.6% win rate In fact, we had a trader, Ryan, who said for his March trades, he made 9% gain at a half percent risk, with an average awarded to risk of 2.6 to 1 across all his trades. And his win rate was 37.6%. So under 40 with a 9% gain in 1 month. That is incredibly good. And if you could do that every month, you know the sky is the limit with regards to firms and trading retirement accounts or whatever it is, you can do fantastically well now in the outside world, that’s very hard to do to be successful at something at under 50%. Outside world win percentages for Roger Federer, Let’s take a few cases here. Roger Federer, who’s arguably my favorite tennis player and I think one of the best of all time, only won about 54%-55% of all points that he played. Which is crazy to think about how many Grand Slam titles and overall titles that he’s won and he’s only done that percentage. Casino games win rate, need 55%+ Now let’s take 2 other different ventures: the casino. A lot of people are going to casinos on cruises, or if there’s casinos where you are and the house always has about a 1% to 5% edge, depending on what game or what type of hands you’re playing, machines, et cetera, etc. so you’ve got to be in that 53% to 55% win rate range just to break even. And the casinos know this and they have that house edge. So it’s built in. But if you can get over 55%, which is rare, and your casino games and everything are set up for you not to do that, especially long term, then you’ll be a consistent winning player of the casino. Sports betting win rate, need 55%+ Let’s take sports betting huge around the world and has been growing in the US the last 5 to 10 years especially. Again, there’s a built in advantage to the casino. If you win 52% – 53% of bets, you’ll break about even that, that juice that they have or that vig as they say, is to the sports books advantage and the casinos. The best bettors in the world only win 55% to 60%. And that’s at the very top. But you can do well if you can achieve that number. So in trading, you know, high 30s, low 40s. Our client Ryan, who’s been with us a couple of years and others are getting right in that, you know, mid to high 30s or low 40s for a win rate. 95% traders lose, only hear about the 5% winners, winning AND losing trades The other one that I want to talk to you about is losing trades. There’s a reason why 95% of traders lose. But you don’t hear about the 95%. You hear about the 5%. If you take a look out there, I’m a proud owner. I’ve got another car. I would have been newer one, but that’s my 2007 Hyundai Santa Fe. It’s got 365,000 miles on it. And you know, I’m just regular guy with a family. And I’m going to show you what winning and losing trades are about, because that’s what most of 98% of us deal with. And we’ll give you the real story. A lot of times on social media, you don’t get what goes on behind the curtain because people only post about the positive things. So I want to give you the true story of trading and how it goes. So losing trades, none of us like to lose. But it does happen. 2 ways to react to losing trades, one preferred way So how do we react to losing trades? What are 2 ways? 1, I made a technical error. I had a deal breaker in my strategy and I traded it. I traded during news. I broke a rule I over risk, I over traded whatever I tried to revenge trade, whatever it is. That’s 1 reason why you also trade. The 2nd reason, and the 1 I prefer the most is you made your analysis, you stuck to your strategy, you kept all the rules, you took the right risk and you took the trade and it lost and the market just simply went against you. That’s the preferable way to trade. That’s a great way to lose a trade. Even though that sounds counterintuitive. Taking the good with the bad: celebrate wins and deal with losses But losing streaks will happen sometimes you’ll have a losing week or a losing month and you just have to deal with that. That’s the reality of trading. As my good friend Darryl says, you have to take the good with the bad in life, and that certainly applies to trading. Take the winning trades, celebrate them, and learn how to deal with the losses. And all together, you’ll have a consistently profitable time of trading, and you can learn the life long skill and have it work in your favor. So that’s it for me. I’m going to go watch Carolina Hurricanes NHL hockey team here in the Raleigh area, going for the Stanley Cup. But yeah, we’ve talked about win rates today and how you can win with much less than 50% and still be consistently profitable. And how do we react? It’s easy to react to a winning trade, but how do we react to losing trade. So that’s it for me. We enjoy this beautiful weather and some hockey and we’ll see you next week here at The Forex Trading Coach. Thanks. Episode Title: #633: You Can Be Profitable With A 37% Win Rate Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass

Master Trading Discipline and Consistency Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #621: Master Trading Discipline and Consistency In this video: 00:25 – The mental side of trading well. 00:49 – Tom’s background. 02:40 – You don’t need to be perfect. 06:34 – Ideas for new traders. 09:25 – AI and the future as a trader. 14:25 – Closing the trade early for profit. 16:52 – False results from gurus online. 19:50 – Trading and stress. 23:14 – Andrew looking at D1 charts in a few minutes. 26:25 – People need support and community. Andrew Mitchem Hi everybody. It’s Andrew Mitchem here at the Forex Trading Coach. Welcome to another video on podcast. I’m really excited today to be joined by Tom Winterstein, who is a certified mental performance coach and trader over in the US. Welcome a long time. Nice to see you Tom Winterstein Great. Thank you. Great to be here. The mental side of trading well. Andrew Mitchem Tom, look, I think we’ve got a lot of great information that we’re going to help people with on this, video on podcast. Because we were just chatting about the mental aspect of trading and how it’s something we’re both huge on, but it’s something that most people just completely overlook in their trading, especially if they’re new. Andrew Mitchem So maybe you can give us a bit of background on yourself and that aspect of your trading and how it’s crucial to someone’s success. Tom’s background. Tom Winterstein Sure, sure. Thank you. Thank you for that. Well, I’ve spent over 30 years in the markets as a trader, an investor and an educator, and I’ve been focus on, you know, global markets like futures and, equities and commodities, forex and, and even crypto using a price action based approach. But that wasn’t always the case. That wasn’t how I started. Tom Winterstein Like most traders, I went through various different systems, indicators, you know, gurus, signals and stuff and totally ignored, any of the, the trading psychology or mental performance side because I thought I didn’t need it. You know, I could succeed without that. You know, most traders, you know, like yourself and like me have been very successful. We’ve had successful periods in our life and we approach this as something that it’s another thing we can be successful in. Tom Winterstein Although it’s not quite that easy, it doesn’t translate that as well. If you leave out certain parts of it. So what I realized is that most traders don’t struggle because they they lack a strategy. You know, most traders have a strategy. They’re not just, you know, throwing a dart and buying or selling willy nilly. They struggle because their execution breaks down when there’s real money on the line and in their emotions take over the, the class and that that right there, you know, that experience was the shift that led me to focus on building a repeatable performance environment. Tom Winterstein Okay. Right. Hence the mental side of it had to be combined with price action or whatever your strategy or edge was today. My work centers not only in price action, but risk management and mental performance systems that help traders perform consistently, not perfectly, but consistently. And that’s that’s really, you know, the best we can strive for as traders or investors is to be consistent and have a system that that, you know, takes us through the decision making process. You don’t need to be perfect. Tom Winterstein So in the heat of the moment, those decisions are outsourced to our process. Andrew Mitchem Yeah. Interesting. I like I really like the phrase that you use to that not making it perfect because I think when people get into trading and, you know, they buy a course or they read an e-book, whatever it might be, they see that boring bit at the top that talks about risk management and psychology and mind control, you know, mining everything, the all the important things that we’re going to talk about. Andrew Mitchem But they get that, oh, I don’t need that. I scroll down through the important bit because I want the strategy. And then when they do things like backtesting, they they want the perfect strategy. And and your phrase about it’s not perfect is so true because as we both know, we can see what we think is an A-grade setup. Andrew Mitchem You take your trade and it still doesn’t work sometimes. So that’s just the way of the markets. But not being perfect is something that people, don’t want. They want to be perfect, but they ignore the important and the risk and the micro. Why? Why is that? Why do people do that? Is it just a boring topic? Tom Winterstein Well, it’s many cases. Like even myself, when I was younger, I didn’t know what I didn’t know. Andrew Mitchem Yeah, I know. Tom Winterstein My my background, a formal education is more in, information systems, computer science. Yes. I have a postgraduate degree. I have a master’s degree in business administration with a concentration on finance. But it did teach me about human emotions. When it comes in to to an environment like this. And it’s it’s trading is is pretty much a scenario unlike any others in the world. Tom Winterstein Okay. You know, when it comes down because you have your money at stake and you know, it’s it’s and really we’re performers, okay. And there’s a lot of different roles where people perform. Could be a doctor or a lawyer. Pilot could be a skilled, you know, craftsman, a welder or whatever. Those are all acquired skills, okay. And training is an acquired skill. Tom Winterstein However, when you get into, you know, the actual trading in the heat of the moment, there’s, you know, there’s psychological things beyond or our awareness or beyond our control that we just don’t realize that are taking over. I give you one real simple example and we call it, you know, and this is how a lot of traders will sabotage themselves. Tom Winterstein And we call it the identity gap. And and what I mean by that is, you know, like you mentioned, people will read books, take courses, watch videos, and they’re highly skilled. Okay. But what happens is their performance lags their skill, meaning that they have all these tools, they know what to do, but their performance has has seemingly lagged their skill acquisition. Tom Winterstein And so their subconscious labels them as an inconsistent trader. Yeah, okay. And that’s a really hard label to break because 90% of our overall actions are directed and guided by our subconscious. And that was something that I didn’t really understand. I didn’t want to understand when I was a new trader. I’m like, that has nothing to do with with trading charts, you know, or anything. Tom Winterstein Until I realized and her and I had done quite extensive study under, you know, a high performance psychologist, when the concept was, was approached to me that, hey, your subconscious is getting in your way, but it’s something that can be reprogramed. And what stuck out with me out of that whole sentence was reprogramed because of my computer science backing and like, oh, okay, I need to understand the syntax. Tom Winterstein Tell me the language. What can we do? Are there and there are specific tools to work on. You know how you get in your own way as a trader, you know, without getting and I’m not a psychologist, but but I understand the tools and know how they apply in the trading and investing, world. Ideas for new traders. Andrew Mitchem Right. Interesting. So someone starting out that’s watching this, you know, let’s say that new ish trader, the difference that we would see as people who help and we’ve been through this ourselves, you know, the difference between a demo account on a live account and people struggle with that transition, don’t they? They, they go, a demo account of making money and I go live and I’m not making money. Andrew Mitchem Why is that? What’s going on in their mind that creates that change? Because in theory, if you’re profitable on a demo, don’t do anything different. And you should be profitable in a life. Tom Winterstein Yeah, well, that’s the theory and the demo, right? Yeah. The demo account can be a trap for many people. Because demo trading doesn’t really prepare traders. And what I mean by that is without emotional consequences, execution habits never fully form. Okay. So there’s no there’s no real risk of, of a consequence in this case. When you trade, you lose money. Tom Winterstein That’s a consequence and there’s no real risk of that consequence. So therefore we don’t develop habits to overcome that potential. And and people will tend to do things in a demo account that they wouldn’t do with their with their live account. Andrew Mitchem Yes. Yeah. Tom Winterstein You and I see that all the time. Yeah. And, and when I first I’ve done it. Andrew Mitchem Yeah I’ve done it. You know years ago. Yeah. Tom Winterstein Right. Right. And I so different when I first started, especially when I first started trading futures, that I felt so different with demo, it didn’t I didn’t think it was helping me. And so I really didn’t trade demo very much to the point was that, okay, even, you know, and this is, you know, before micro contracts, but even with one micro contract, people’s palms will get sweaty. Tom Winterstein And you can you can feel your heart and you can hear your heartbeat and think it was one micro contract in a, in a, you know, on the Nasdaq or the futures or, or if you’re doing, you know, the smallest of contract size in the forex market, it’s just different in a live account than it is demo. Tom Winterstein And so I don’t, I don’t I don’t advocate that people don’t. A demo is a great place to learn the software platform that you’re trading on, you know, so whatever your platform happens to be, because, you know, in many cases, I’ve even recently I make procedural errors on the software. And, you know, sometimes in the heat of the moment when you yeah, you meant to close part of the position and you added to it or vice versa. Tom Winterstein But but demo is a great place to get acclimated, you know, to the software, especially if you’re making a recent change or you’re new to it. Demos are a great place to practice the software. Andrew Mitchem Yeah. And to work out you, you know, you you buy limit as opposed to a buy stop rule. Right? Right. If you see a script or an expert advisor, whatever it is, you use it for that reason. AI and the future as a trader. Now leading on from that, you know, everybody’s now talking about going to AI. And, you know, I’ve been trying to trade bots for years on MetaTrader and things like that. Andrew Mitchem However, to me, this still whether you want to go that route or not, there’s so much human emotion and common sense and understanding of what that automation is about that comes into it. You can’t just simply go, I’ve spent $1,000. I bought a bot, I plugged it in, I let it go. You just can’t do that, can you? Andrew Mitchem So there’s still even if you go automation or to some degree that’s still the emotions come into it. How does that bot work? Why does it stop working? How do I change the parameters? All those things. Tom Winterstein Right. Yeah. And to me AI is just another tool, like, like an indicator. Yes. Or a strategy or a study or something like that. That’s how I characterize it. And I know people will use the bots and stuff. I personally do not, although I do. I do believe AI has a significant place in trading and investing, but it’s more on the preparation than it is on the execution. Tom Winterstein I still believe it’s best left to a human to execute because, you know, I don’t and I use AI quite a bit, but I don’t know that I can adapt my risk management tolerance. Yeah. And things like that. Now, sure, I can program it to do whatever, but but I like, you know, I like the human element more than I like the AI component for that. Tom Winterstein So I do believe AI has a place in trading and investing, but it’s more in the preparation I believe. Andrew Mitchem Yeah, I agree and and also I think from a mental aspect, if you’re a good trader, there’s nothing more rewarding than knowing that up here you have that information and that skill to do this, to pass it on to other people, whatever it might be. And and if you’re trading is purely to, free up time in your life or to create a financial future, then that that I suppose that emotion of knowing I can do this is something you’re never, ever going to get from relying completely on automation. Tom Winterstein Oh, I know absolutely. And there there’s nothing better than, you know, self-made success, especially when it comes to trading. Yeah. Because it does it does build confidence. But, traders and investors have to be careful that that confidence doesn’t change parameters like. Yeah, okay, well, I’m having a good day. I’m having a good week. I’m having a good month. Tom Winterstein I’m going to size up, you know, and it’s okay to size up, but you really have to have a mechanical process to do this and know some of the things that we advocate inside of our mental performance programs is to keep a trader scorecard. You know, we’re I’m actually documenting and I have to have metrics of success, meaning, before I scale up, I have to have three out of four green weeks before I can move contract size. Tom Winterstein And that’s that’s just a simple example of outsourcing a decision to the process rather than like, hey, I’m having a great day. Let me double down or I’m having a bad day, let me double down that I know the process has to be consistent because, you know, over the long run, that’s that’s what keeps the math and the probability in the edge in your favor. Andrew Mitchem Yeah. Do you find that when you’re helping people and they you start to see them successful, they have very low control risk over, like all trades at that time? You know, and regardless of the pattern or maybe the time frame or in the forex, you know, whether you’re trading the euro, US dollar or whatever it is, they’re trading the same risk per trade. Andrew Mitchem And also they generally have a high reward to risk outcome on most of their trades. Do you find that? Tom Winterstein Well, that’s what breeds success. That’s what’s required to be consistent. But then you know, we talked about trading isn’t always perfect. Yes. You know, and so people will break their rules, from time to time where they will size up, even though they have a written rule, they don’t follow it. And that’s because you have that little voice inside of you saying, oh, just do it. Tom Winterstein Just do it. Yeah, you can do it once. Andrew Mitchem I want to be perfect. Tom Winterstein Right? Because. Right. This is this one will be perfect for the will have an identity. They start to assume the identity of their last trade. And this is another, another thing that can sabotage somebody is, you know, I just I have had a really good trade and and it’s gone. Well, okay. So, I’m going to go trade something else because I’m really smart. Tom Winterstein I’m going to apply what I’ve learned in the Eurodollar over here to some market I’ve never traded before. Yeah, but they’re they’re getting out of their process. You know, they don’t. And it’s okay to do that. But you have to have a structured approach and in a, in an environment to work yourself into that, it’s almost like, you know, you have to be able to reward yourself by accomplishing things that get you to that, to that, you know, milestone that you’d like to do. Closing the trade early for profit. Andrew Mitchem Yeah. Interesting. So there’s another idea that I’ve just suddenly thought of. And again, I used to do this years ago before I understood the importance of risk or trade, is that a lot of people will not trade with the stop loss. Let’s say, or they may not put a profit target in. And why is it, in your opinion, that people find it easy to let a trade go negative and a big and negative in the hope that it’s turning round? Andrew Mitchem But they won’t take the profit on a trade, even though it hasn’t got to where it probably should get to, because they always want to close a profitable trade early and bank that money that like that fear, you’re going to lose out. But when the trade is going against you are happy to let it get bigger and bigger loss because it might just turn around to be smaller. Tom Winterstein Yeah, well, the reason they do that is because they haven’t outsourced their decision making and they’re making decisions on the fly in the trade. Yeah. And you had a set of rules that defined your risk management before a trade ever started. So many things are easy to say and hard to do, but once you put them into practice, you know, for the people that don’t trade with a stop loss or they’ll add to it to a loser or they’ll just let it go. Tom Winterstein What what they’re unknowingly doing is they’re putting the mathematical odds against them. So instead of having a one to 1 or 2 or 2 to 1, 3 to 1, 4 to 1, they now have having a negative to And they don’t realize that over time that math isn’t going to work in their favor. And I see that that’s, that’s a quite common thing with newer traders is they’re like, they’re they’re risking ten to make three. Tom Winterstein I’m like, yeah, well that’s that’s not going to work long term mathematically. You know, I wasn’t a math major, but I understand statistics. And once but once they once you can reveal to them that, hey, that the odds are stacked against you, but then share a process, okay. You know, and this goes back to like, some of the teachings from Mark Douglas. Tom Winterstein You know, any time you introduce something new, you have to give it at least 20 trades in a series. Otherwise you don’t you don’t statistically know whether or not it’s going to work. And so I will strongly advocate for that, you know, okay, let’s let’s work on your order. But we’re going to let it run 20 trades then it value it. Tom Winterstein Let the numbers tell us what to do. Don’t let us, you know, don’t don’t make a decision based on what we think or feel. Let’s let the data tell it. False results from gurus online. Andrew Mitchem Yeah. So is that is that a risk that a lot of people today when we’re getting shorter and shorter attention span, everybody wants to go on Instagram and TikTok and all that. And they see these results because I’ve looked at a few and they go, I’ve made $1,000 on this trade. And then you look like and that looks really, you know, attractive, doesn’t it? Andrew Mitchem And then as an experienced trader, you look into that further and you go, wow, you did risk 50% of your account to get that right. And people don’t see that aspect of it. Tom Winterstein No, they don’t. And the reality is that those people, you know, as as you and I would probably consider, they’re not traders, they’re gamblers. Yeah. Yeah, yeah, they’re they’re out there with a gambling mentality. And, you know, even in the casinos people are going to win sometimes. But even the winners usually stick around long enough to lose their money to. Tom Winterstein Yeah. You know. Andrew Mitchem Hey, you okay? That’s why there was the biggest buildings in America. But I was there last year and saw some huge. Tom Winterstein Oh, yeah, yeah, yeah. Yeah. And they’re, they’re building more and more all the time. Andrew Mitchem And there’s only one reason for that. Happy. Tom Winterstein Yeah. Andrew Mitchem So yeah, in terms of a mindset of someone, why is it that we see and I’m assuming you see the same? I’d certainly say this. Someone’s gone and let’s say paid for course. And they go, I know it works because I’ve seen it work. And it’s been proven to work. And they have they start with like you’re part of a base and a rule. Andrew Mitchem You know, if you understand that phrase, that’s a phrase that we use. You know, they start and they’re all enthusiastic. And then they might have a few losing trades, and then you don’t see them showing up and they go, oh, look at some losing trades. And they’re on to that next shiny object. And I find that really frustrating because it’s from a coach’s perspective, because so many times have had that happen and people then come back and go, oh, I know I joined you a year ago, and I’ve been through all these other courses since, and I’ll come back and I realized that yours was the best strategy, and now I’m on it, and now Andrew Mitchem I’m loving it. And it’s like, you’ve just wasted a year of your time. I know. Tom Winterstein I know, losing. Andrew Mitchem Money, people just chasing the next shiny object. If things don’t go perfect in the first week of month. Tom Winterstein Yeah. And and I have seen that quite a bit myself. It’s like, just almost identical to the way you described it. And really it comes down to education versus conditioning. Because education, education is very important. We have we have to have an edge. We have to we have to have a strategic strategy. But that knowledge or strategy alone does not translate into behavior under stress. Tom Winterstein Right. And that’s the that’s the part that traders and investors don’t understand and don’t realize. Or if they do, they ignore it. You know, just like I did when I was younger is, you know, we as humans behave differently under stress. Trading and stress. Andrew Mitchem Yes. That’s interesting I suppose. I’m not sure if you were, but I fly a helicopter privately. Oh, nice. And, you know, you do those auto rotations and you have those tests, and they deliberately put you under so much stress because especially when you’re training with dual controls in because they almost want to see that person go, oh, I can’t do it. Andrew Mitchem It’s too hard. Stop annoying me. You do it. I mean, where is of course you can’t do that when you’re in charge. If things go wrong, you’ve got to use your mental clarity and go straight an to that process and. Right. And I think that trading is kind of similar. I’ve done a lot of martial arts. I wish I still did it. Andrew Mitchem I’m not fit enough now. But you know, years ago I did a lot of martial arts. Same thing that mental aspect of martial arts. It’s all up here. And for sure, like, if people have these kind of other skills and, and all, they relate to another skill that they have, it would help them to become a better trader quicker. Tom Winterstein Right? Right. And there’s a lot of things. And when I was younger, I was a single engine aircraft pilot. Ryan, as, as, you know, someone that’s never flown a plane or a helicopter may not know this, but everything you do and everything I did as a pilot revolves around a little checklist. Andrew Mitchem Yes. Right. Tom Winterstein A preflight checklist, you know, in-flight emergency fuel. You have a checklist of the darn thing. And I sit right here. I keep my my training checklist right here. My death because I go through it every that’s my I call it my preflight trade checklist. Even though I’m not flying. That’s why it’s. Andrew Mitchem On my wall. I’m looking at it right there. Same thing. Yeah. Tom Winterstein Yeah. And and so that’s, that’s part of, of the, the mental performance environment that we create is, is you have to have, you know, not only a pre trade checklist but I do checklist for everything. Yeah. You know, and and just giving my technical background everything for me needs to be logical. Has to be and doesn’t have to be sequential. Tom Winterstein But there has to be parameters around it. And then there’s you know my my work as a, as a pilot, you know, just translates beautifully into training because you really need you need to have a system, you know, you need to have these parameters. You need to have checklist. And whether it’s I even have a posting, a post trade, you know, checklist of what I do at the end of the day, you know, and and I have, you know, it’s more of a schedule than it is a checklist. Tom Winterstein That’s, that’s governed by rules that during an intraday, you know, time period and you know the you it’s the New York Stock Exchange is open 9:30 a.m. to 4 p.m.. But that doesn’t mean I’m sitting in front of my computer the entire time. And so I’ll use analogies that a lot of people are probably more familiar with if they haven’t flown a helicopter or a plane. Tom Winterstein And I’ll ask them to say, you know, have you ever or do you now go to the gym, the work out, you know, you mentioned launch the hearts and they’re like, oh yeah, I work out three times a week. And while I’m like, what did you do? You go to the gym at 930 and then leave at four. Tom Winterstein Oh no, no, I go there, I do my routine and I’m done in an hour. I’m like, well, you can do the same thing with trading. Andrew Mitchem That’s exactly right. Tom Winterstein You can show up to the markets and get your work done in an hour or two, and then be done. Yeah. Even though just because the market’s open 23 hours a day, you know, five days a week doesn’t mean you have to be in a trade just because price is moving regardless of what you’re trading. Andrew looking at D1 charts in a few minutes. Andrew Mitchem That’s interesting because, you know, as we’re talking as we’re recording this, it’s 430 now PM New York time, and in half an hour we’ll be looking at daily charts because obviously they in the forex market, they change over at 5 p.m.. I’ve already been through the daily charts before talking to you, so I know already there’s only one trade that I’m looking at taking right now because of there were gaps yesterday at the beginning, but I already know up here mentally and everything else. Andrew Mitchem I’m prepared for that one trade providing in half an hour it closes correctly. I already know what I’m doing. Place the trade, let the trade do its thing. I’ve got the risk set. I know it’s x percent of my account. If it goes against me, I know the profit target and it becomes. In this case, I think it’s about 2.8 to 1 reward to risk. Andrew Mitchem And I will leave the trade to do its thing. And I find that so many people want to fiddle with trades, they want to interfere or, they, they don’t understand when to trade, and they are simply because I’m on the charts, like right now, you know, I put the kids to bed or the, the program on TV’s finished. Andrew Mitchem Whatever it is, they go to their computer and they go, I’m finding a trade right now rather than the other way round. It’s like the market’s presenting me with a trade. Now I take the trade. Tom Winterstein Right, right. Well, I think, you know, a lot of traders, they realize that discipline matters. But what they don’t realize is discipline fails when they’re forced to make too many decisions in real time. Andrew Mitchem Yeah yeah. That’s right. Tom Winterstein You’ve already got all your decisions made is. Andrew Mitchem Done I know. Tom Winterstein Yeah, but but the majority of people that you and I probably both say don’t do that. Right. And that that’s one of the biggest downfalls is, you know, they don’t have an environment that sets them up for success. Yeah. Andrew Mitchem So in summary then, Tom, what can someone who’s watching or listening to this do in terms of checklists showing up at the right time each day or the same time, depending on the strategy? What kind of like sort of tips can you give someone of what they should be looking at? Tom Winterstein Yeah, so so really they, you know, in addition to having a strategy as they need to immerse themselves into a performance execution environment, you know, regardless of of whose it is or where it is, but without, you know, a performance environment to immerse themselves in, which is going to have things like, you know, trading rules, the pre trade checklists, like we talked about, you know, and just some general awareness around human behavior. Tom Winterstein And we talked about the identity gap or how you resonate. You’re only as good as your last trade. And you know that that types of things and just how the human mind can really sabotage and show up in the markets because, you know, you know, you and I have seen those traders that and they, they, they bought and all of a sudden the market dropped significantly. Tom Winterstein You know, they’re just doing and they can’t they think that the market’s out to get them. And that’s a sure sign of of not being prepared and not being immersed in a, you know, in an environment that set up for success from from a performance standpoint. People need support and community. Andrew Mitchem Interesting. I’ve just written a word down as you were talking there and, and I wrote down support. And the reason I wrote that down is at the end of last year, at the end of 2025, I sent out a survey to non clients. A lot of people and a lot of people filled it in. What surprised me is that one of the biggest things that most people said they were missing was support and community and help. Andrew Mitchem And I think back to when I started back in the days of dial up internet, you know, and probably you might have been the same nobody was there to help you if you said you were a trader. People kind of looked at you like, why don’t you go get a real job or, you know, and and so there was no one to talk to, no one to consult. Andrew Mitchem Forums are generally dominated by the wrong type of people, who don’t really know about trading, but they’re very good at typing. Tom Winterstein Right, right. Andrew Mitchem Regulation. And so again, I think that’s an important aspect of a community of or to be able to contact someone. Do you find that as well people are lacking that. And when they have it, it’s a crucial aspect of their their learning curve. Tom Winterstein Oh, I mean, absolutely. When you look at at a trader, that’s an isolation versus in a performance environment, you know, a performance environment is going to include these singular, you know, routines, feedback, accountability, stuff like that. But isolation is one of the most expensive hidden costs for traders. You know, when it boils right down to it. And so your survey is spot on. Tom Winterstein And and I’m sure that, you know, the yeah, the research and responses that you got would support those statements that. Yes. Andrew Mitchem Yeah. Tom Winterstein You know, performance environment can amplify your success. Whereas trading in isolation can mute your success. Andrew Mitchem Yeah. Interesting. Yeah. And that’s what we were finding. So Tom, how can someone contact you? How can someone find you if they would like to make contact with you? Tom Winterstein Yeah. So. So we’re on the web. We’re at stock chart pros.com. You know, it can be a mouthful, but if you find us, it is, stock chart pros.com. And, you know, in addition to, you know, the price action courses that we have the biggest thing and that you know my push has been around you know, the whole patent pending neuro trading method is to build a performance environment because most traders have an execution gap and most people, they don’t realize they have that gap, or if they realize, hey, I’ve got a performance execution gap, they don’t know how to fix it. Tom Winterstein And so that’s that’s what we provide is, is a system, an environment and a place, you know, in an environment where traders can succeed and we see all different walks of life. You know, they’re not just US based traders. You know, we have traders from all over the world that trade all kinds of different things. Many of them come to us with their strategy and edge, and they know that it works. Tom Winterstein But what they can’t do is perform it consistently. Andrew Mitchem Interesting. Yeah, yeah. That’s fascinating. Well, Tom, thank you so much for being here. It’s really interesting speaking with another experienced trader and someone that puts such a high, you know, influence on the mental aspect of it and low risk and understanding what you’re doing. And showing up consistently. Like you said, we’ve both been through the ups and downs of trading. Andrew Mitchem We both made many mistakes over the years, and we’re both here to be able to. I suppose, pass on that knowledge and help people who want to help themselves to become better traders. So thank you so much for being here. I really enjoyed, the chat with you. Tom Winterstein What’s been my pleasure. Thank you so much. It’s great talking with you. Andrew Mitchem Thanks so. Tom Winterstein All right. Bye bye. Episode Title: #621: Master Trading Discipline and Consistency Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass

What It Really Takes to Trade for a Living Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #619: What It Really Takes to Trade for a Living In this video: 00:01 – Summary of the interview. 00:31 – Andrew Mitchem interview with Etienne Crete. 01:13 – What it takes to succeed in the market long term. 04:37– How long will it take to be a good trader? 06:25 – How do you know if your strategy is not working? 10:40 – What time frame charts should I trade? 18:23 – Prop firm advantages and disadvantages. 22:15 – What returns can I make? 27:40 – Mindset of trading. 30:36 – Contact Andrew Summary of the interview. The amount that you make as a dollar value is not important to me. It’s the percentage that you make as opposed to the percentage risk, because you can go on to a prop firm and use their money if you’re good. You know, it doesn’t matter whether I lose $10, $100 or $1,000 if it’s still the same percentage. I’m going to make $30, $300 or $3,000. You know, if it’s a 3 to 1 trade, providing that you get your mindset away from the numbers and you look at it as percentages. Andrew Mitchem interview with Etienne Crete. Something not to do with Andrew Mitchem. And Andrew is a trader that I really admire for his consistency in trading the same methods mostly for multiple decades now, I believe. So it was good to see you back on the podcast. We had a chat a few months ago, I believe, and then you were the very first guest on the podcast. Always kind of welcome back here, which is cool. But tell me what’s going on with you and kind of what you’re up to these days. Yeah. So nice to be here, first of all. And lovely. I think this is our fourth or fifth one. So, really good to be here. Yeah. Life’s good here with summertime over in New Zealand. Markets are good, which is nice. Now we’re, you know, we’re over that Europe to be in the northern hemisphere summer season. Yeah. It’s good. Life’s good, as in very good. Awesome. What it takes to succeed in the market long term I want to address certain topics it’s going to come down to, I believe, is the theme of what it really takes to succeed in the market long term. I know you have students who are very profitable now. Yeah, students who might struggle a little bit. Have maybe a lot of people who will see you, and then they see you trade full time and they kind of wonder why you’re so successful. Can you kind of start to unpack this and kind of figure out, what does it take to make a living in the markets in the long term? Yeah, I think there’s obviously a lot of dedication required to trade and to trade well. A lot of dedication and learning up front. I think one of the things I see that a lot of people today are not doing is I don’t think there’s a lot of people there that are willing to put a lot of time and effort into their trading. And I think as a full-time trader, I’m noticing that’s getting possibly worse. You know, whether it’s a social media thing or people want instant results, I’m not entirely sure what the actual reason is. But one thing I do notice is that people aren’t putting that time and effort in. And if things aren’t going well and they’re not suddenly making a fortune in a month, they give up. But I find from my point of view, from what I can help people with, it’s just being honest with people and saying, you do need to put some time and effort in to do it properly. You can become a full-time trader. Absolutely. It’s not going to be for everybody. You still have to absolutely love it and have that passion to want to do it and to turn up, to expect that not everything’s going to work perfectly. Market conditions are not always going to be great. You’ve got to take losing trades, losing weeks, losing months sometimes, but you’ve got to stick through it and be consistent. And I think that’s one thing I can tell people with my years of experience: that’s how you’re going to get through it. It’s a little bit harder for some people to actually accept that because, you know, when you’re in the middle of a slump, it’s quite hard to see the other side. It’s funny how trading seems to get easier in the sense that you have more information. You have more coaches that can help you how to trade and stuff, but people seem to be putting less effort than before, I feel. Yeah, absolutely. People are not willing to put time in or dedicate some time to try and learn. Look, I’ve got these things behind me here. That’s my new passion, playing guitar. I’m putting daily practice into it. I’m learning to sing. You know, I’ve done the helicopter thing, I’ve done the karate thing, and now it’s this. And I can’t instantly expect to turn up and play and sing and be in a band without doing, you know, several years of time and dedication. And it’s getting better all the time. And you go through ups and downs and it becomes easy, then it’s horrible, then you feel dreadful. And I think that trading is exactly the same, but you’ve got to want to do it. I think you’ve also got to make sure that you’re doing it because you enjoy the trading aspect of it, not simply because you see it as a way to get rich quick or you hate your job. So you think that trading is going to solve all your financial problems. It can do, but you’ve got to give it time. How long will it take to be a good trader? If someone were to ask you, what’s the amount of time it’s going to require for me to just sit in trading, what would you tell them? Can you pinpoint how many years it’s going to take them, or can you just say that it takes what it takes and that’s it? Yeah, I think that you need to dedicate — I mean, I suppose that’s how long it’s going to take you. But if you can give yourself half an hour or an hour a day to learn properly, that would be good. Do your homework on the terminology of trading. You know, when we start talking about limit orders and stop losses and currency pairs and all those type of things, it’s easy because we’ve done it for so long. But if you’re new to it, you’ve got to give yourself — like learning a new language — time to understand that terminology. Then I think you need to find yourself either a strategy that someone else has created, or put some time into observing the market yourself. And when you’re doing that, don’t worry about making money. Don’t even contemplate money. Get onto a demo account, look at charts. So time-wise per day, I think even giving half an hour, an hour a day to learn would be nice. That must be every day. But give yourself like six months. Give yourself a year. Don’t rush it. Don’t expect miracles. If you do it properly and do it slowly, you’ll find that it will come together. And you’ll find that you’ll pick up so much because you’re observing real market conditions without the pressure of feeling that you have to make money from it from day one. Something I see a lot is people that don’t know when to stop learning. Like, of course you should always try to learn and train and always try to become better, but there’s a time where you have to stop learning different strategies, stop kind of jumping between different strategies, and you’ve got to apply what you’ve learned so far. How do you know if your strategy is not working? How do you advise people to know when it’s time to stop learning other things and other strategies? Yeah, that’s an interesting one because you’re right. The issue that people will have after a certain length of time is if it doesn’t work really quickly, they’ll then go back and try and find something else again, back onto a forum, reinvent the wheel. I’ll give you a great example: just this week I had a guy who wrote to me who’s a client from a number of years ago, and he said it didn’t work for me. And I came back to your system about six months ago and I started again. And it’s working and I’m loving it. And I’m doing well. I’m on a prop firm and everything. But a lot of people give up too quick. And I think you need to, once you’ve got something that’s proven — maybe not proven to you, but proven to other people — you’ve got to dedicate some time to forgetting everything else. Because if you get yourself a strategy that has been proven to work, you don’t need to go out there adding to it, and you just need to apply it in real market conditions. You know, I think it’s really important that you do that. And again, like I said earlier, you have to accept that not every trade is going to work, but providing if you’re looking for — like in my example, I’m looking for candle patterns, etc. So providing I’m taking what is a good quality trade at that time, if the trade works or the trade doesn’t work, I can’t help that. All I have to do is go back and look at it and go, at that time, did this trade meet all those criteria, yes or no? If it did and the trade loses, well that’s fine. That’s part of trading. But you’ve got to stick to that system. One of the other things I find I get questions about when it comes to things like that is what time frame should I trade? And when people are new, they naturally want to trade lots and lots of trades. So they go to like one- and five-minute charts and fifteen-minute charts — and look, I did exactly the same years ago. You’ve got to not do that. You’ve got to, in my opinion, get to something longer and more reliable. And then it becomes, okay, so I’ve gone longer, which is the right one? And my answer is it depends because it depends on, one, what type of person you are as a trader, what suits you. But also, like, I could go through like this week and I’ve had lots of daily chart trades. Last week I didn’t have any, but we had lots of, say, four-hour and twelve-hour chart trades. Next week it might be six-hour or the weeklies might be showing. So I like to look at a variety of time frame charts. And I think if you just stick to one, that’s when you run into danger. You know, people will say, “Oh, there’s nothing showing,” or “Every trade I’m taking is losing.” So they give up and then they’ll go and look for the next system. So stick to something, but also be flexible. I just love the daily charts a lot. It’s just so easy to trade compared to what people do intraday and stuff. And I had to slowly move to it over the years. It took me a while to get there, but now I definitely love it. I love this kind of big part of my trading for sure. Yeah, I think with trading — like the two of us have been doing this for a number of years, like a long time — you soon realize that, you know, less is more. Better quality trades, less sitting looking at the charts, higher quality trades, more probability. All those type of things make it really enjoyable because one, you’re actually making money, but two, you’re actually doing less work, or less time looking at charts. And so I think to keep that enjoyment up and keeping fresh and keeping loving doing what we’re doing, I could think of nothing worse than just glued to the charts for like three, four, five, six hours. And most of the time all you’re doing is paying the broker because you end up trading by feel — that you should trade because you’re there. You know, trading what the market’s giving you. What time frame charts should I trade? I think the danger for a new trader going into the charts is like — like I said before this — maybe don’t trade for like a week or something. You want to get comfortable with that. Because eventually trading, no matter what timeframe you trade, could be the lower timeframe or higher timeframe, there’s times where there’s no trade at all. How do you get comfortable with that kind of feeling? Yeah, and that can be hard for people to accept. In our advantage are a couple of things that I can think of, like right now. One, we have access to more markets. So when I started 20 plus years ago, it was just forex. That’s all it was. And there wasn’t that many. Then came more minor pairs, then came like gold or silver against the US. And now over the last years we’ve got a lot more markets. It depends on your broker of course, but I could trade like gold and silver against — like we all see — the kiwi, the pound, the US, the yen, you know, Singapore dollar. Lots of them. I can trade lots more pairs. I can trade cryptos. I could trade metals, indices, commodities. So when I am looking through the daily charts once a day, I now have a lot bigger — like, you know — more charts to look through. So I can be very selective in fine tuning. If we use that, let’s say gold example. Years ago, it was gold/US dollar, and that’s all it was. Whereas I could look at, say, go through all those that I’ve just mentioned. Okay, are gold against the pairs looking the best, you know. So I can be very selective. So, it might only mean I’m taking one or two trades on that timeframe a day, but they’re really high quality ones. And if there’s nothing, then you accept there’s nothing on that timeframe for that day. But the way that I look at charts is at that close of day when I’m looking at the daily charts. At the same time, the 12-hour charts and the 8-hour charts and the 6-hour charts also close, because it’s 5 p.m. New York time. So at that time I can go and look at like three other time frame charts and look for setups. And I think that pretty much means that almost every day we are posting trades that we’re taking and we’re posting for our clients. At that time, even if they’re not on the daily charts. If the daily charts are just really not giving us anything, there might be some on the 12-hour charts that are. So it’s still the same time that you’re looking. It just means that you’re giving yourself a lot more opportunities. Do you feel like forex lost its appeal since you’ve been trading it? Do you feel like less volatility these days and it’s harder to trade, or do you find other markets are becoming more attractive than forex now? Yeah, I could see how people would think that. But also look at it and go, I think forex is possibly even more reliable now. You know, if you look back 15, 20 years ago, the non-farm payrolls — like the US monthly employment figures — the price would spike up three, four hundred pips in like 10 seconds sometimes. And it was really wild. Great if you’re on the trade, but otherwise it could be a nightmare. And so I don’t see those big wild moves any longer. So, you know, I suppose you could say that’s a good and a bad thing. But I do find that sometimes in the northern hemisphere summer season — you know, July or August — sometimes the market goes a little bit quiet. And I have noticed that a few years in a row. But the flip side of that is because on our forex charts — so like I still use MetaTrader, MetaTrader 5 — and I find that because we have those other markets, I’m still trading them the same way. Whereas years ago when the forex market was like really moving, I didn’t have access to those. So I can trade those other metals or, you know, cryptos. And it’s not just Bitcoin and Ethereum — there’s lots and lots of other markets. So I find return-wise it’s still exactly the same. It just means that maybe a few more of my trades are on non-forex pairs. If you want to look back on your trading journey so far, are there a few things you would like to do differently? Are there some things you would change or try to do differently to get the results faster, or to get kind of better results? Not anything major that I can think of. No, not really. One of the things I’ve always been conscious of is not blowing my account. And so to get better results, of course I could risk more, but that may in turn mean that obviously it means I’m risking more. So when I have drawdowns they’re bigger. And that would also potentially disturb some of the way I’m looking at the market, because you become a little bit more cautious. Whereas right now, because I risk very tiny amounts, I see a trade, take a trade. I’m not worried about it. I’m not losing sleep over it. And I think that’s a real important part of trading that, you know, you’ve got to see it, react to it, take it. Whereas if you start risking too much in order to make more, the downside is you either revenge trade or you become very scared and you go, “Oh, I see this trade. It’s actually quite good, but I can’t afford to take it,” or “I don’t want another losing trade,” so you don’t take it — and of course that’s the one that wins. So I’ve always been very cautious of that. Other things I’d change — not a huge amount. I mean, it took me four years to make something that was good. I mean, I would love to have made that quicker, but, you know, that’s the learning process. You can’t really change that unless you’re just doing your homework. It’s just part of learning. It’s a cost of learning, those years. No, I’ve tried like automation. I’ve tried adding extra things. And it always comes back to the way that I sort of traded back then. It’s still the way I trade today. That’s cool. I always tell people the fact that it’s better to aim for lower returns and kind of more consistency, like you mentioned, than trying to look for bigger returns and just having a low-cost equity curve. So, absolutely, you’ve got to try and keep your equity curve relatively smooth. You can’t — like if someone says, “Oh, I’ve had a 50% return,” then you go, well, that’s really good. But then, “I’m risking stupid amounts and I’ve had like a 60, 70% drawdown.” And it’s like, well, that’s not very good. So the actual return is not, to me, so important. It’s what’s your risk as opposed to your return. And as we know, with the ability now to trade on other accounts that it’s not your money — like a prop firm — just being consistent and not having big drawdowns is what they want. And so there are other avenues now for people that, you know, because of course people used to go, “Oh, my account’s only,” you know, I pick a figure, $5,000. “Even if I make 100%, I can’t live off $5,000.” Well, no, of course you can’t. But you still have proven to yourself that you’ve got the ability to make that 100%. So it’s important that you know what I mean. The amount that you make as a dollar value is not important to me. It’s the percentage that you make as opposed to the percentage you risk, because you can go on to a prop firm and use their money. If you’re good. Prop firm advantages and disadvantages. I feel like prop firms kind of encourage traders to just gamble more because they could always go and trade and hope to pass a challenge. And it’s kind of a risk of like, if you do this consistently, then you just end up losing the account. But it’s easier to kind of just take a big trade, hopefully pass or hopefully get a withdrawal, and then you kind of go with that. To me, the aim of a prop firm — the only important thing is not how long you take to pass it. It’s just don’t get to the drawdown. And if you don’t blow the drawdown, you will pass it eventually. And it’s just that most people don’t look at it that way. They go, “Oh, how quick is it going to take me to get to 10%?” And so I can get through the demo onto a live — and yeah, you’re right. If it encourages you to get that gambling mentality, then you’ve got to seriously consider if you should be even on a prop firm. And I think the important thing for people — and I get a lot of emails from people saying, “Look, I failed a prop firm,” and it’s like I get back to them and say, well, have you been trading for six months, 12 months on demo or a live account of your own? And they go, “No, I went straight to a prop firm,” and it’s like, well, that’s a really silly thing to do. You’d be better off spending six months on a demo account and treating it like it’s live, or a small live account of your own, and proving consistency in your results, because it’s going to prove to yourself that you can do it, and then go to a prop. Don’t ever waste your money jumping into a prop firm, because all you’re doing is feeding prop firms more money. And like I said, you’re either going to gamble and fluke it, but that can only happen so many times before you blow it. Definitely. What’s a drawdown you’re comfortable with on your own account? Do you have a certain level, certain percentage that if it’s within check, you’re okay with that? And then if it goes beyond it’s like too much, but on a personal level based on kind of your risk tolerance. Yeah. Personal level, like, if I ever get to a 10% drawdown, I’d be horrified. You know, that’s me. The absolute maximum kind of level. But because I risk very small amounts, I’d need a lot of consecutive trades all to get stopped to get to that level, you know. And with a reasonably good system, you’re going to get some good trades in there at some stage. So the likelihood of getting to that is really quite slim. But it’s because some people will say, “Oh, 10% is nothing.” So I know that’s going to comment below. But I mean, for me, similar for me is 15%. I’m still good with it, but I don’t want to go to like 20%. Like 15% is probably my limit, and I won’t get to that very often. Well, the easy one — and I think we’ve mentioned this on other chats we’ve had — is the one that gets most people. If you have a 50% drawdown, you need to make 100% to get to break even. And most people can’t see that until they stop and think about it and go, wow, that’s quite scary. So that’s why I like to keep risk low per trade, ensure that profitable trades many times the risk are several times the risk. So you have little small losses, big gain; little small losses, big gain. And that way you don’t have to be right all the time because no one’s going to be right all the time. You know, you can accept that things might go against you or your trade’s going really well, and something happens and it gets stopped out. Well, if it does, it’s not killing your account. And mentally it’s not affecting you because your risk is really small. You only need a couple of profitable trades and it’s taking back all those losses and more. And you’re then back higher than when you started. What returns can I make? Right. So you have to kind of get away from that mindset of if I don’t make enough returns, then I won’t be able to make enough money, or I won’t get a platform to fund me, or I won’t be able to get capital. It’s kind of a big thing. It’s like people think you have to have higher returns to be interesting for platforms and investors and whatever, but you could be doing much better with lower returns, correct? That’s right. You just want consistency — low drawdowns and consistency. And I think the issue that I see is a lot of people don’t have the quality of strategy that allows that to happen. You know, to start with, I find a lot of people just don’t have a strategy at all. Then they don’t understand risk management. They have no plan. They really don’t know where they’re putting their stop loss or why. A lot of people seem to put the stop loss and still go back to pips, and they put the same stop loss on every single trade, regardless of looking at the market conditions. So there’s all these things that people do that are real basic, but if you do them wrong, you’re just stacking all the odds against yourself. So again, it comes back to me: get some education, do your homework, do that hard work up front. And if you do that time and hard work up front, then the results will follow. If you expect instant results and you don’t do your homework, you probably only get one result and that’s you’re going to give up or fail. You know what I mean? I saw a comment on our YouTube channel yesterday. Someone said that they took a trade and they put a stop loss, and then they lost $60,000 because of it. So the lesson is, well, next time they won’t use a stop loss because then they won’t lose money. You don’t have a stop loss, no trade. It’s kind of a crazy thing when you think about it. But yeah, kind of like — it’s crazy. There’s a lot of simple things that people could do. It’s like I’m staggered the number of people that don’t understand that if they have a sell trade on, and it’s on, let’s say a minor exotic pair, and the spread widens, then they could get stopped out even though the price doesn’t get anywhere near their stop loss, whereas that won’t happen on a buy trade. And so it’s all those things that when you spend some time in the market, you get to see these things and you’re doing all that groundwork. So you’re not surprised when it becomes real money or bigger amounts of money. Okay. I think this is easy. Is it something you can just learn from courses, or is it kind of things that you just have to learn through being in the market and kind of seeing things happen and kind of seeing where weird stuff happens too? That’s right. Give it time. You know, give it time. You’ll find all these things happen. You’ll go, “Hang on a minute, that price never got near my stop loss and the broker took it out.” And then the natural thing is to blame the broker. But it’s like, no, you were trading the Norwegian krone/Japanese yen, and it was a sell trade, and it was on a one-hour chart with a tiny stop loss, and the spread just took it out. So all those little things — you’re better off making those mistakes on a small account when, you know, financially it doesn’t really matter, but you learn from it. What’s your advice for someone who says, “I want to be able to make a living in the markets”? Is it just about learning a strategy and kind of being good at it, or is there more to it, to making a living in the markets? The strategy is obviously really, really important, but I think you need to also be in the right mental space as well. You know, you’ve got to be consistent. You’ve got to show up consistently. It’s one of the things that I love about the teaching aspect is that I can’t go, “Oh, I can’t be bothered to trade today.” I want to stay in bed, or, you know — I have to show up. And so that’s what you need to do because, you know, you can just imagine that you don’t show up for a few days, and that’s the day when all the good trades show and you’ve missed it. So be consistent, show up, be consistent with your trading, know when to trade. These type of things come into it as well. Because I think you need to stagger things because when you do go to bigger accounts or firms or your own larger account, whatever it is you do, it does affect you because you see bigger losses, numbers-wise. But that’s why it comes back to, for me, it’s a percentage. You know, it doesn’t matter whether I lose $10, $100 or $1,000. If it’s still the same percentage, I’m going to make $30, $300 or $3,000. You know, if it’s a 3 to 1 trade, providing that you get your mindset away from the numbers and you look at it as percentages — that’s the percentage of your account that you’re risking. And it’s all relative. It’s all exactly the same. So I think when you start going live with bigger accounts, that is one thing that can play with your mind, play with your head. But if you understand those numbers and you’ve been through different market conditions of ups and downs, then you just ride it and go with it. But as a person, be consistent. Don’t do dumb things. Yeah. If there’s no trade there, don’t take it, right? If the trade’s there, take the trade. Mindset of trading. Definitely. I mean there’s a whole strategy aspect, there’s a whole psychology of course, a mindset as a whole. Also finances, like how do you structure your account? How much do you put in your account, how much you’re willing to lose? What do your profits do, I think is a point. Do you want to go into that a little bit? More like how you manage finances as a trader, like what things are the case. You’ve got to understand what works for you, you know? What are you comfortable with? I think that’s really important. It’s like, if you suddenly see five trades show, are you going to take them? Are you going to keep your risk the same on all five? Let’s say you risk 1% per trade. Are you suddenly going to put 5% on there because all five look good? Or are you going to select the best one, or are you going to reduce the risk and take all of them? If they’re all related, let’s say they’re all US dollar related, well, quite a lot is the US dollar at the time is really strong or really weak. Moving those pairs. So are you going to accept therefore that all five could go wrong? Or five could work, you know. You’ve got to know what your answer to those questions is before it happens. You’ve got to have that plan. I think that’s really important. What about in terms of capital? Do you believe in putting all your money into one account and kind of just trading it, or do you kind of spread it out and do — you look at investing, you look at trading, you look at different things to make money that’s not all connected to kind of one market? No, I mean obviously the cash flow through your trading’s really good, you know, if you’re good at it. So that’s always a nice thing. But personally, I still, outside of trading, invest in other things. I mean, I hear people that say, let’s pick something else. Let’s say you’ve got $50,000, and they say, “I’ll only put $25,000 with the broker and keep $25,000 somewhere else and just risk twice the amount.” So you hear people doing that, that’s an option. I just think that with the ability to — once you’re good — with the ability to either trade for other people or trade for prop firms, so you don’t need to load up your account with like everything you have. And I also think it’s quite important that you split whatever you trade for your own trading money over several brokers as well. I would do that purely from a safety point of view, you know. Yes, I trade with some very good brokers. Have they ever done anything wrong? No, not to me. Have I ever, in the past, had a broker that suddenly disappeared? Yes. And it hurts. And we battled and battled for many years and ended up with about 80% back after all these legal fees. Like a group of us got together from around the world. But it’s horrible going through it. And you wouldn’t wish that on anybody. So split your account up over a few brokers. Contact Andrew It’s good advice for sure. Where can people find you and connect with you after this podcast? Where can they learn your strategies and your methods and kind of connect with you? Yeah. Well, our website’s TheForexTradingCoach.com. We’ve been around for over 16 years, clients in 109 countries now. So in that time we’ve never ever missed posting our daily trades, our webinars, everything. Our forum site — so have a look at TheForexTradingCoach.com. There’s lots of information. There’s lot size calculators and e-books and free webinars for people to have a look and do the homework. Go on to something like Forex Peace Army and look at the reviews since 2009. You know, have a look at what we do and the due diligence review. Decide if coaching and a strategy is something that you want. Just do your homework. I personally write back to every email that comes through directly to me. You know, we’re real people. I’m sitting here at home, my office. It’s just that my computer screens are just behind me. You know, we’re real people doing this, and that’s why it works. I think we’ve got tutors in London and North Carolina as well. So we’re not just — because I’m here in New Zealand — we cater to people right around the world. Yeah, yeah. Also super active on YouTube. We have a lot of content there and also on the podcast. I believe it’s been good stuff over the years. So yeah, yeah, we’ve got our stuff on all the normal social media channels. YouTube — 616 videos, I think right now to date. You know, so one a week, that’s been going for what, 12, 13, 14 years or so. So it’s that consistency of showing up. But if you go back and watch some of the early ones, the content in terms of like the suggestions — and not so much advice — but, you know, suggestions and things we talk about hasn’t really changed. And that’s, I think, massively important that, you know, we’re not chasing our tail and adding bits to the strategy and taking bits off simply because markets change. The logic, the strategy is identical today than it was 16 years ago. I told you when I started trading and it’s still there, so it’s insane. It’s crazy. I mean, there for a long time. That’s crazy. That’s good. That’s right. And you know, over those years you’re going to get different market conditions and everything happens in the market politically and everything else. And the logic still works, which is the awesome thing about it. Awesome. If people can connect with you, see what you do, and of course, if they want to learn from you, that’s awesome. And your time here, especially the advice, is always a good discussion and we can have a chat next time about trading again. Awesome to see you again. Again, thank you very much for your time. Episode Title: #619: What It Really Takes to Trade for a Living Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass

Too Busy to Trade? Try This Weekly Strategy Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #617: Too Busy to Trade? Try This Weekly Strategy In this video: 00:31 – Do you lack the time to trade? 01:50 – How to trade without taking up too much time. 02:08 – GBP/HKD W1 chart with a 4.8:1 Reward:Risk. 03:27 – My first ever client trades only Weekly charts. 04:33 – Look at the charts just once a week. 05:18 – It’s all about knowing what to look for. 05:41 – Book a call with us. 06:04 – 30 minutes Masterclass. 06:25 – Blueberry Markets as a Forex Broker. 07:04 – Like, Share and Subscribe Do you think that you’re too busy to trade? If that’s you, I’ve got a great solution for you. This is something that my very first client from back in 2009 has done since then, whilst running his very successful business. Let’s get into that and more right now. Hey there, Traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 617. Do you lack the time to trade? So a common problem that so many people face is they think they are too busy to trade. And it’s fair enough because you see out there online, you know, examples on various platforms, YouTube, etc. of people looking at charts and looking at 5 minute charts and watching every pip move up and down. And you look at that and you think, well, realistically, how on earth can I copy that process? Because I’m just too busy. I’ve got, you know, work, businesses, family, hobbies, whatever it might be going on in your life. And there’s no way that you are going to be able to afford that time to sit there, either to want to do it or to be able to do it, to sit there watching charts, ready to take little trades every now and then. It’s just not realistic. And of course, many people wake up to that fact and they go, well, looks good and maybe in hindsight, but I just realistically cannot dedicate time to doing this. And even if you could, do I really want to sit there just staring at charts, watching 5 minute charts and 15 minute charts, just waiting for that signal to occur? Probably not, because it’s not realistic and it’s not something you’re going to enjoy and continue to be able to do or want to do long term. So everybody’s got busy lives. I get that. How to trade without taking up too much time. So what can you do to still become a good trader, but to not take up all day? And the very simple solution is you can look at the longer time frame charts such as the weekly charts. Now, just this week, right now is the absolute perfect example. GBP/HKD W1 chart with a 4.8:1 Reward:Risk. At the beginning of this week, we suggested a buy trade to our clients on the GBP/HKD. Now you go and have a look at your weekly charts for the beginning of this week. Go on to the pound Hong Kong dollar and you’ll see the candle setup that I’m taking now. Right now as I’m recording this, the trade has not reached a profit target. But it’s very, very close. It’s only like ten pips away right now. If it hits the full profit target, which it’s almost certainly going to do, especially by the time you watch this and listen to this, the trade’s going to make a massive 4.8 to 1 reward to risk. So if you imagine that at the beginning of this week you saw that trade and you placed, let’s say, a 1% risk on that trade, that’s going to make you an incredible 4.8% gain on your account on the one trade in one week by taking literally, what, ten minutes to scan through the charts, if that, just at the beginning of the week. If you took a half percent risk, that’s going to make you a 2.4%, not a bad gain in one week from a trade that took you like five or ten seconds to actually place, and then you’ve forgotten about it. No more chart watching. You just put the trade on, put your stop loss on, put your profit target on and let the trade do its thing. Let the market do its thing. Now that is a solution for you if you’re short on time. My first ever client trades only Weekly charts. Now, my very first client, and he was the instigator in starting The Forex Trading Coach because he used to buy trading signals from me. And he said, look, Andrew, would you fly across to Australia to come and teach me? And I spent about four or five days with this guy and his family back in 2009, and that is how I started the coaching. And he was just thrilled with the system and thrilled with everything I taught him. And to this day, he is still trading. Now this guy owns a number of restaurants, very high end quality restaurants in Noosa in Australia. And he traded back then the weekly charts and to today he continues to trade just the weekly charts because for him he can have a look at his charts once a week early morning Monday morning in Australia. Or he can, you know, have a few minutes over the weekend because the forex markets are shut of course. And he can have a look through the weekly charts. And by the time the markets open, he can place trades exactly like we’ve just placed on the GBP/HKD. And for the rest of the week, he’s out there running his restaurants and managing staff and happy customers, etc. Look at the charts just once a week. And so that is a very good solution because the weekly charts, of course you need to look just once a week, the quality of the chart trade setups is very, very good. You don’t have to worry about news events or anything like that. Put the trade on, leave the trade to do its thing. Have a look at the end of the week. Do I leave the trade open over the weekend if it’s still going, or do I close it if it’s not already hit the stop loss or profit target? So a great solution for people who maybe are traveling, who have got to run businesses, just too busy to look at charts. Once you understand what you’re doing, you can place trades like the GBP/HKD weekly chart trade and end up, let’s say, with a 1% risk and a 4.8% account gain. Try doing that on many other markets and something that’s taking you such a short amount of time. It’s all about knowing what to look for. However, the key to all of this is not how little time you’re going to trade. The key is knowing what to look for. And so the only way you’re going to do that is to spend just a little bit of time upfront and learn to dedicate a bit of time to your knowledge and your education so you have the ability to see these type of trades and to take these type of trades. Book a call with us. Now two things you can do. One, if you’d like to book a call with either myself or the team, I’m going to put a link to our booking account. We have opened up more available time slots, so it’s available to anybody, anywhere around the world. We can give you a call on your home phone number or mobile and have a chat about how we can help you with the trading or see if we can help you with the trading, if it’s going to be a good fit or not. 30 minutes Masterclass. And the other thing you can do is have a look at my 30 minute On Demand masterclass, where I explain all about trades exactly like that GBP/HKD. Show you some trades on the charts of what we’re doing, how we trade, using limit orders, all those type of things that we do in keeping risk low per trade, and of course not spending much time on the charts each day. Blueberry Markets as a Forex Broker. Now, the other thing you can do and do yourself a favor if you’re out there looking for a good broker, is have a look at Blueberry Markets. They offer the MT4 and especially the MT5 trading platform. So you might find some brokers don’t offer markets like the GBP/HKD. But Blueberry Markets on the MT5 platform do. And that’s the beauty of it. You can look for the candle pattern and the chart pattern that is showing you the best setup. It doesn’t matter whether you have any interest in the GBP or the HKD. It doesn’t matter if the technical trade setup is there. See the trade. Take the trade. Profit from the trade. Enjoy your trading. Spend a few minutes once a week on the weekly charts. You’ll find they’re incredibly good. I hope that helps. Like, Share and Subscribe Any questions? Please feel free to reach out. Ask me directly Andrew@TheForexTradingCoach.com If you’re watching, don’t forget to like and subscribe if you’re on YouTube or other social media platforms. And I hope that helps. For anybody that wants to look to trade properly and who feels that they don’t have a ton of time to dedicate to their trading on a daily basis, it’s a great solution. It’s profitable, it’s enjoyable. It’s something you can do just once a week and still trade the markets properly. This is Andrew Mitchem here at The Forex Trading Coach. I’ll see you this time next week. Bye for now. Episode Title: #617: Too Busy to Trade? Try This Weekly Strategy Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass

Trade Smarter: Bollinger Bands Made Easy Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #615: Trade Smarter: Bollinger Bands Made Easy In this video: 00:23 – Don’t sit at your charts all day. 00:41 – Using Bollinger bands. 01:19 – You cannot trade every suitable candle without qualifying it. 02:30 – Why Bollinger bands can help you to trade. 04:00 – Add Bollinger bands when checking for suitable candles. 05:02 – New Forex Masterclass. 05:25 – Book a call with us to chat about your trading. 05:45 – Blueberry Markets as a Forex Broker. 06:21 – Like, Share and Subscribe Today, I’m going to explain to you why I use Bollinger Bands. They’re a really important part of your trading and can massively help you if you know how to use them right. So let’s talk about that and more right now. Don’t sit at your charts all day. Hey there, Traders! Andrew Mitchem here at The Forex Trading Coach — outside on a glorious day with one of my wife’s horses here. One of the beauties of trading, and the way that we trade, is that you do not need to sit at your charts all the time. You don’t need to be at the computer all the time. Far from it. In fact, the opposite — less is more with good trading. Using Bollinger bands. But the reason I want to talk about Bollinger Bands today is that I had a discussion with somebody yesterday who’s been trading for just a little while — not a client yet, but he was interested in how we trade, how we operate, and in coming on board with us. I actually met him in town, took my laptop, and had a really good chat with him. He knows that we use candle patterns and candlesticks as one of our primary ways of looking for a trade and understanding what’s happening in the market. Now, he’s reading Steve Nison’s book about candle patterns — which I probably looked at maybe 20 years ago. You cannot trade every suitable candle without qualifying it. And I said to him, the issue that I find is that if you look at candles just by themselves, they don’t really tell you a lot. They can help, but there are too many false candles. You cannot take every outside bar, engulfing bar, pin bar, or hanging man — whatever it is you’re looking at — as a trade. You just can’t do that, because you’re not going to be successful. What you need to do, as with any trading, is qualify it and make sure it’s in the right part of the chart. I took my laptop and showed him some trades that I had open live — in fact, two of the trades hit their profit targets. They were six-hour trades on XAG/AUD and XAG/EUR, which we posted for our members yesterday. They actually hit their profit targets live as I was sitting in a café talking with him, which was quite amazing. I said, “Well, you can’t make that type of thing up, can you? It just happened right in front of you.” Back to the story — I was discussing those trades and others, showing him the reasons why we took them. Yes, it was the candle patterns, but also where they occurred on the chart. We were using support and resistance levels, round numbers, stop-loss protection, and all those types of things. Why Bollinger bands can help you to trade. But the other point he wasn’t aware of — and what I want to discuss today — is about the use of Bollinger Bands. Now, I’m not a massive fan of using lots of lagging indicators because, well, they lag. However, I find that Bollinger Bands can really help you put the candle in the right part of the chart. Of course, you need prior trends and indecision and all those types of things. But if you just look at the setup candles that we look for, and if you’re looking for candles that occur near the upper or lower Bollinger Bands, then what you’re seeing are potential reversal trades. In other words, if you had a nice uptrend and your bearish candle bounced off the upper Bollinger Band (or near that area), then that could be a very nice reversal trade — looking for the downtrend to start. Likewise, the opposite of that — if you’re in a downtrend and you see a bullish candle bounce off the bottom Bollinger Band, then the market might start to reverse upward. Likewise, we also use the middle Bollinger Band. That’s a great area for helping to quantify trades that are continuation patterns — and continuation patterns are my personal favorite. It means that the market’s been moving up, then pulls back toward that middle Bollinger Band, you get a bullish candle pattern, and then you’re looking for the market to move upwards again. The opposite applies for bearish continuation patterns. Add Bollinger bands when checking for suitable candles. So, go and add Bollinger Bands to your charts and start looking at the candle patterns that we look for. By the way, that book I mentioned probably has hundreds of patterns — but you don’t need that many in forex. I generally find that there are only about four patterns that we look out for when it comes to candle shapes. If you can classify them as reversals or continuations by having them around the upper, middle, or lower Bollinger Bands, then you’ll eliminate a lot of those trades that just occur when the market is flat and not really in the right part of the chart for either a reversal or continuation. That definitely helped him — especially when he could see the trades live and see the benefit of having someone to help teach you that. It’s even better when you can follow along trades like those six-hour XAG/AUD and XAG/EUR trades that hit profit right in front of him. To see those, to understand why you’re taking them, and of course to be profitable as well — that makes all the difference. If you’d like to know more about how we do that and how we can help you — obviously, I met this guy in person, but we’ve got clients in 109 countries, so that’s not going to happen with everyone. New Forex Masterclass. The best way to find out about us and how we trade is to jump onto my 30-minute On-Demand Masterclass. You can find a link here on this page. Book a call with us to chat about your trading. And if you’d like to book a call to have a chat with myself, you can talk to me or one of the team. You can either email me directly — I reply to all personal emails myself — or, if you’d prefer, have a call with me or the team. I’ll put a link for that as well. Blueberry Markets as a Forex Broker. If you’re out there looking for a really good forex broker, I can highly recommend Blueberry Markets over in Australia. They’re great people with a lot of market options, especially on their MT5 platform, which I use — as do hundreds, if not thousands, of our clients. If you’re looking for markets like XAG/AUD or XAG/EUR (not just XAG/USD, for example), you can find those types of markets — and the candle patterns we’re looking for — on the Blueberry MT5 platform. I’ll put a link to them as well. Like, Share and Subscribe Any questions you have, drop me an email or leave a comment here. And now, I’m going to enjoy the rest of the day with Raven here — my wife’s beautiful horse. Have a great day or night, whenever you’re watching this, and I’ll see you this time next week. Bye for now. Episode Title: #615: Trade Smarter: Bollinger Bands Made Easy Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass

Making Extra Income While on Vacation in New York with Paul Tillman Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Leave me your comments and feedback #613: Making Extra Income While on Vacation in New York with Paul Tillman In this video: 00:26 – Paul Tillman trading from New York on vacation. 00:44 – Account up +1% in 2 days of the week. 01:25 – We can teach you how to trade in just 30 minutes a day. 02:10 – Trade and travel. 02:49 – How to contact us and learn how to trade for yourself. How would you like to be able to make extra income, extra money, and still go on vacation with your family to sites like New York City? Let’s get into that and more right now. Hello, this is Paul Tillman with The Forex Trading Coach, and this is video and podcast #613. Paul Tillman trading from New York on vacation. I am standing here right in the middle of Times Square in New York, on vacation here. The last time I was with you, I was with Andrew on the top of Grandfather Mountain in the North Carolina mountains, shooting a video and telling everybody how forex can help change their lives. Account up +1% in 2 days of the week. So I’m sitting here in New York. I’ve been trading — this is only the second day of the week — where I’ve made more than 1% already, taking trades on XAU/GBP, GBP/JPY, and even BTC/USD. And I’ve done that in just an hour of trading yesterday and 30 minutes of trading this morning. The key is to make the most of your opportunities — checking the charts at certain times of the day, getting into a daily routine, not getting stuck to your screen all day looking at such short time frame charts. There’s no need for that. You only need to trade 30 minutes to an hour a day to make it create income. We can teach you how to trade in just 30 minutes a day. What we can teach you is how to do that. We have a course that goes all the way from A to Z — talking about the very beginnings of forex trading all the way to the end of our strategy. We have live webinars that traders get on every week. We’re looking for live trades, talking about our story with trades and questions. And then we also have a forum site. The interesting thing about the forum site is that in that 30 minutes a day, outside of that, there was a trade on the USD/MXN just last night on the forum site. I was able to get on the six-hour charts, take a buy trade, woke up this morning ready to tackle New York again, and saw that trade had hit the profit target. Trade and travel. So, being here in New York City — seeing a few other professional sporting events, seeing the sights and sounds of Times Square in the capital of the world, as they say — you can do all these things and still trade at the same time. Most of us have families, we have jobs. I’ve got a 12-year-old daughter and an 8-year-old boy who keep me running constantly. But I can trade around that, and even the job that I have as well outside of trading. So, we’re headed to go see the sights now around New York City. Going to see our hometown Carolina Hurricanes hockey team tonight before heading back home to Raleigh tomorrow. How to contact us and learn how to trade for yourself. If you’re interested in anything that I’ve said about The Forex Trading Coach and having forex change your life, put a comment at the bottom of this video or hit “Contact Us.” Visit our site at TheForexTradingCoach.com. So we’re off to go see more sights in New York — ice hockey tonight — and we’ll talk to you later. Have a great rest of the week. Episode Title: #613: Making Extra Income While on Vacation in New York with Paul Tillman Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Leave me your comments and feedback

Daily Reversal Pattern That Nailed Profit Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #611: Daily Reversal Pattern That Nailed Profit In this video: 00:35 – Trading reversals and continuations. 00:58 – What to look for when trading reversals. 01:23 – Selling the XAG/AUD D1 for 3.5:1 R:R profit. 03:19 – Traded using a Sell limit order. 04:23 – Brand New Forex Masterclass. 05:02 – Free 1 hour live Q&A Webinar. 05:17 – Blueberry Markets as a Forex Broker. 05:58 – Like, Share and Subscribe I want to talk a little about reversal patterns, and we had a fantastic reversal pattern on a daily trade just this week. They look really good on the charts, and they can be a fantastic way to profit from the markets. So let’s talk about reversals and more right now. Hey there traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 611. Trading reversals and continuations. So I personally trade two different chart patterns. I look for continuation patterns and I look for reversal patterns. Now, if you’ve been following me for any length of time, you will know that I prefer continuation patterns because it means that you’re trading with the dominant trend. But after a pullback or retracement. What to look for when trading reversals. However, I also still do look for reversal trades. Now, they can look really very good on your charts, but they do pose slightly more risk because you are trading against a very strong uptrend or downtrend. However, there are a number of things you can do to put more factors in your favor to give yourself a high-probability chance of a successful trade. Selling the XAG/AUD D1 for 3.5:1 R:R profit. Now, a great example of that is just this week. On Monday, the 20th of October 2025, we took a sell trade on the daily Silver Australian dollar. So go have a look at the charts — XAG/AUD — on the daily charts, and you will see that Friday’s candle, the completed Friday candle, was an all-time high, but also it closed very strongly back down as a bearish candle and had a number of other things in its favor. Not only was it an all-time high, but it had a trend line break, it was overbought, there had been recent divergence, and it broke down through the round number of 80 and closed below that level at the end of the week. So on Monday, at the beginning of the week, we suggested and took ourselves a sell trade based off that chart. Now, if you’ve been following gold and silver against almost everything over the last few weeks and months, you know that they’ve just gone up and up and up. They’re going crazy. And so with anything that does that, there’s always going to be an opportunity for it to get overbought and then pull back. Now, I don’t know — and I don’t particularly care — whether gold and silver, or in this case silver against the Australian dollar, has a massive fall away. It doesn’t really matter for this particular trade. All I’m looking for is a slight pullback based on the candle pattern. Now, two candles later, we hit our full profit target on this particular trade for a very healthy 3.5 to 1 reward-to-risk. So that means if you risked 1% on the particular trade, you would have made a 3.5% gain on your account, which is pretty amazing considering it took just what — a minute, if that, to place the trade — and two candles later it hit the profit target. So have a look at what actually happened on the chart. Now, we take limit orders. Traded using a Sell limit order. So at the beginning of the week, we didn’t just take a market order. We put a sell limit to sell XAG/AUD if the price first pulled back — which it did. It got to exactly our entry level and then turned around as anticipated and went straight to our profit target some two candles later. That is a great example of a lot of things all adding up together to suggest that that trade was going to work in our favor. When you look at it on a bigger picture, XAG/AUD had been in an enormous uptrend, and it turned over, and we took that opportunity to sell it. As I mentioned, where it goes now, I’m not particularly bothered because I’m out of this particular trade and therefore looking for new opportunities. It could well pull back and then continue back up again in that overall direction. If that’s the case, that gives us a great buy opportunity, which becomes a continuation pattern. But today we’re talking reversals, and that is a great example of reversal patterns. If you’d like to find out more about how we trade and how we can teach you and help you to become a successful trader with our help — after all, we’ve been doing this for more than 16 years and have clients in 109 countries — we kind of know what we’re doing, and we know what works and what doesn’t in terms of the strategy and teaching. Brand New Forex Masterclass. If you’d like to find out more, click on the link. You’ll find my 30-minute On-Demand masterclass. Set aside 30 minutes, go and watch that — you’re going to learn a lot of information from it. Also, don’t forget to go back and watch previous videos and podcasts just like this. After all, there are 611 of them for you to dig into and learn from. Free 1 hour live Q&A Webinar. If you’d like to book a call to have a chat with either myself or one of the team, I’ll put the link here for that as well. You can have a no-obligation 30-minute chat, and we can help you with your trading and show you what we do and how that could potentially help you. Blueberry Markets as a Forex Broker. If you’re out there looking for a very good broker, I can highly recommend Blueberry Markets. I’ll put a link to them here. All these trades that you see behind me here were all taken on Blueberry Markets — in terms of that Silver trade, XAG/AUD. They’ve got Silver and Gold against the Australian, the US, the Euro, the Pound, the Chinese Yuan, the Singapore Dollar, and there are probably others that I’ve missed. So lots and lots of opportunities to be very selective and pick the highest quality chart setups. As technical traders, that’s exactly what we need. So Blueberry Markets — I can highly recommend you consider them if you’re out there looking for a good broker. That’s it for this week. I hope you’ve enjoyed the session and learned all about reversals. Like, Share and Subscribe Any questions or comments? Please leave them on this page. And don’t forget to like, subscribe, and share this with anybody who is out there looking to become a good trader. I’ll see you this time next week. Bye for now. Episode Title: #611: Daily Reversal Pattern That Nailed Profit Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass

Fundamentals vs Technicals – Which Drives Markets Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass #609: Fundamentals vs Technicals – Which Drives Markets In this video: 00:28 – Technical or Fundamental trading?. 01:05 – Example this week of why I am a technical trader. 02:40 – Interest rate announcement out of New Zealand. 04:07 – We profited from 5 Daily chart trades. 04:25 – Monthly Sell on the NZD/USD also hit the profit target. 05:44 – Brand New Forex Masterclass. 05:57 – Free 1 hour live Q&A Webinar. 07:06 – Blueberry Markets as a Forex Broker. 07:50 – Like, Share and Subscribe Which came first? The chicken or the egg? Or in trading terms, fundamentals or technicals? Who’s the winner, and which came first, and which is most important? Let’s talk about that more right now. Hey traders! It’s Andrew Mitcham here, the owner of The Forex Trading Coach, with video and podcast number 609. Technical or Fundamental trading? So today really is the chicken-or-the-egg question. And as traders we look at all the technical charts, or we look at fundamental news events, or some people have a combination of both. Now, I’m certainly a technical trader. I’m going to share with you why I think that is the most important, but also I’m not saying that news is not important. It’s just I think you need to develop, as a person, as a trader, and find out which one is best for you and why. Or maybe the answer is a combination of both. But I’m a technical trader. Example this week of why I am a technical trader. Now, here’s a classic example. On Wednesday morning, my time, we were looking at the daily charts at the close of the Tuesday daily candle. And we do this every day, and we’ve done this for the past 16 years. So at the close of a daily candle at 5 p.m. New York time, we analyze the charts and we look at trades based off the daily charts for the new day. And if you go and look at the close of Tuesday’s daily candle, you would see many New Zealand-related pairs all showing massive NZD weakness. And we identified five trades as specific trades based off the daily charts, based on that NZD weakness. And they were the NZD/USD, NZD/CAD, NZD/CHY, AUD/NZD, and GBP/NZD. Now, the last two have been Australian and Pound against the New Zealand. They were buys. The first three were sells, all looking for NZD weakness. So that’s the technicals. We saw room to move for the profit target. We saw safety in our stop loss. And for what I look at and what we teach, we had everything setting up there as five excellent, high-quality trades off the daily charts. Now we come back to the chicken and the egg, and we come back to what was actually happening and why. Interest rate announcement out of New Zealand. Well, four hours into the new day, out of New Zealand here, we had interest rate announcements, and they were expected to drop the interest rate by a cut of 0.25, or 25 points. That was what Forex Factory and all the news sites were expecting. However, as a technical trader, I looked at the charts and not only did I see the New Zealand weakening, but I saw massive weakness coming. And for me, when I looked at that news event, I thought, I think this is going to be a bigger cut than expected. Now, whether it is or isn’t doesn’t really matter. It’s more the fact that I could see maybe that 0.25 basis points already probably factored into the market, but the market was showing me a bigger drop was likely to come and therefore a bigger cut than what the economists were expecting. And that’s exactly what we saw. So when it comes to the fundamentals, we did see a half-percent cut, which is a massive cut from 2.5 down to 2. You know, that’s a big, big cut, and it’s to stimulate the economy and, you know, things like that. So we saw a doubling of the expected cut—expected 25 points, we got 50— We profited from 5 Daily chart trades. And we profited from those trades. We put those five trades on; all five were profitable trades. And again, it comes back to why I’m a technical trader, because we could see on the charts this already happening—this likely move already happening. Monthly Sell on the NZD/USD also hit the profit target. And you take it one step further, and on the monthly charts we also hit our profit target on our August 2025 monthly chart, which was also a sell on the New Zealand dollar. US dollar. Now, if you go back and watch my trip where we spent four weeks traveling around America, you would see that at the beginning of August I actually made a video and I said, look, I’m taking a sell trade based on the monthly chart—so, looking at the close of the July 2025 monthly chart. So beginning of August, we had a sell setting up on the monthly chart, like the biggest time frame that we can trade. So my bias is already buying NZD/USD weakness. Anyway, fast forward through to October: our monthly chart has now hit the profit target, and our daily bias—which was looking at sell positions, or shorting the New Zealand dollar—was in the same direction as the likely news and in the same direction as our bigger-picture technical monthly chart, also on the NZD/USD. So you put the whole lot together, you can see how we analyze the charts, what we’re looking for, and why this works so well once you understand what you’re looking for and how to do this. Brand New Forex Masterclass. So if you’d like to find out more about how we do this, I have a brand new 15 minute—sorry, no, it’s a 30 minute—masterclass which you can jump onto. I’ll put the link here. It’s been released about two weeks ago, Free 1 hour live Q&A Webinar. and on next week—so probably a day or two after you get to see this video and listen to the podcast—I’m going to be holding a live one-hour webinar where anybody can attend. There is going to be nothing pre-made. There is nothing to sell or talk about in terms of the course. It’s purely going to be there to help you to come on board live if you can, or ask questions in advance. And it’s going to be an open Q&A—ask me anything about how I trade or trading in general: lot sizing, or whether it should be fundamentals or technicals. Any question you have, and I can give you my 20 years of full-time trading knowledge and experience, and some suggestions to help you. If you’d like to come on board with that, it’s a one-hour session. I’ll put a link here so you can register as well. You will need to register to jump on that. Hopefully you can get the live. If not, maybe register and then watch the recording. But any questions you have—any topics you would like me to cover that’s going to help you as a trader—send an email to me or leave a comment here. My email address: Andrew@TheForexTradingCoach.com , or leave a comment somewhere here below. Blueberry Markets as a Forex Broker. If you’re out there looking for a really, really good broker, I can highly recommend Blueberry Markets. Pretty much anybody around the world, apart from the US and a few other countries, can open accounts with them. I use the MT5 platform. Lots and lots of markets—you know, things like the NZD/CHY we took just yesterday. You know, some brokers don’t offer pairs like that. So, lots of different currencies, lots of exotics as well now, and cryptos, metals, commodities, indices, etc. Not only that, great people and fast, great service as well. So, Blueberry Markets—I’ll put a link to them as well. Like, Share and Subscribe So that’s it for now. Try to get onto my webinar—the one-hour Q&A session— and also make sure you jump onto that 30-minute on-demand masterclass as well. So, right, the trading—we’re doing well. We’re helping people. I’ve been doing this for like 16 years now. Check out our reviews also on Forex Peace Army to see how we’re making a difference in the world. And any questions, of course, Please leave comments below. This is Andrew Mitchem here from The Forex Trading Coach. I’ll see you this time next week. Bye for now. Episode Title: #609: Fundamentals vs Technicals – Which Drives Markets Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass