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What is the Green Cross Code of Trading?



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#548: What is the Green Cross Code of Trading?

In this video:

00:24 – Learning to cross the road safely.

00:43 – The rules of the Green Cross Code.

01:02 – Live Webinar with my clients.  

01:26 – The Green Cross Code of Trading.

03:12 – My 17 minutes Masterclass and Book a Call.

03:33 – Blueberry Markets as a Forex Broker.

04:09 – Comments, Like & Subscribe.



Today, I'm going to teach you all about the Green Cross Code of Trading. Let's get into that animal right now.



Hi there, Forex Traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 548.



Learning to cross the road safely.



Do you remember when you were a kid? You were learning at school to cross the road? Or if you're riding a bike, they taught you how to stop a crossing and then cross the road safely.



It's something I never forgotten. And as a kid walking around towns or riding your bike, it kept you safe.



The rules of the Green Cross Code.



What they taught you is, number one, look all around. Number two, look to the right. Then look to the left. And then look to the right. And if it was safe and clear, then cross. And it was a very simple but effective way. And here we are, some sort of 45, 50 years later, I still remember very well.



Live Webinar with my clients.  



Now, the funny story was that last night I was holding a live 2 hour webinar with my client. We took five trades live on the session and when we were looking at trades, I actually said, Look, you need to look right, then left. And it brought me back to my childhood. I thought Green Cross Code



And in trading it's really important that one, you keep things simple, but also you do look right and left. Let me explain.



The Green Cross Code of Trading.



Overall, we look at the chart. We look at the pattern where the pattern is within the chart. Is there room to move? Is it in the right place? All those type of things.



So first of all, we had our candle pattern. We were taking a sell trade yesterday and then I look to the right. The reason I looked to the right was the candle itself have bounce at a round number. So that's our first or second thing. First of all, we look overall, then we go right. Then we went left and we took the chart and we said, where this price at best, which was the round number to the right.



When we went to the left, we saw that some candles prior the price and who had also passed at exactly that level. And when it bounced and hit that level, it then dropped. So now the price to come back up to that same level, we look right, saw the right number left, saw the previous resistance and bounce level.

How To Start Out as A Forex Trader



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#547: How To Start Out as A Forex Trader

In this video:

00:22 – Do you want to start trading?

00:44 – Trading Forex – The Basics.

01:30 – Choosing a Forex Broker.  

01:56 – Forex Education.

02:23 – Your Trading Plan

02:50 – Start on a Demo Account.

03:12 – Technical or Fundamental Trading.

04:08 – Trading and Travelling.

04:44 – Blueberry Markets.

05:00 – My 1 Hour Masterclass and Book a Call.

05:34 – Comment, Like & Subscribe.



How do you start as a forex trader? I'm going to cover that topic and more for you over the next few minutes. So let's get started.



Hi everybody! Andrew Mitchem here at the Forex Trading Coach.



Do you want to start trading?



So you're interested in diving into the world of forex trading. Now whether you're looking to supplement your income or to embark on a new career, starting out as a forex trader can be both very exciting and also challenging. And in this video and podcast, I'm going to walk you through the essential steps that you need to get started on the right foot.



Trading Forex – The Basics.



Now, first, let's cover the basics. Forex trading or foreign exchange is a global market for trading currencies. It operates 24 hours a day, five days a week, and it's the largest financial market in the world.



Now, unlike other markets like stock markets, which are based in specific locations like New York or London, the Forex market happens over the counter, which means that basically transactions are conducted directly between parties, usually through an online platform.



And to start trading, you need to have a reliable internet connection. Obviously, a computer, laptop or mobile device and just somewhere that you can sort of focus on trading somewhere quiet, you can focus on trading.



Choosing a Forex Broker.  



Next, you need to choose a forex broker and look for one that's regulated and has high quality rankings as well. Competitive spreads and uses platform such as Metatrader 4 or Metatrader 5.



I'll put a link on this page to a list of brokers who I use and suggest that you consider because that's going to massively help shortcut the list for you.



Forex Education.



Now, education is also key to being a successful trader. You've got to learn the basics. The fundamentals of forex trading. Understand how currency pairs work, such as the majors like the EUR/USD and GBP/USD and then get into more like the minors like the AUD/NZD or EUR/GBP.



And you got to familiar eyes yourself with you know what pips are leverage margin. All those type of phrases which right now may not be familiar to you.



Your Trading Plan

I’m Not a Fan of Trading AI or Bots



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#546: I’m Not a Fan of Trading AI or Bots

In this video:

00:27 – Everyone is talking about AI and Bots.

01:10 – All Bots seem to fail.

01:30 – Knowing I can read a chart with high probability.  

02:49 – Limitations of using trading bots.

03:19 – You don’t need to spend all day trading.

04:48 – Our 15th Birthday sale.

05:28 – Trade through Blueberry Markets.



 I'm not a fan of trading AI or trading bots. Let me tell you why. Let's get into that and more right now.



Hey, the forex traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 546.



Everyone is talking about AI and Bots.



Now something maybe a tiny bit controversial. Everybody's talking about, you know, AI and how it can help in life and in trading and trading bots and expert advisors and all these type of things. And look, it's been there for years and years.



When I started trading, there was tradestation. You could create programs that would automatically trade for you. And then Metatrader came along and people had expert advisors, which would magically for $97 going to solve all your trading problems and trade for you. If you look back on Forex Factory, on different forums, etc., you're always finding people out there who are creating these these robots that are going to do all these wonderful things.



All Bots seem to fail.



Have you ever noticed that they all fail? Like, I've never ever in my 20 years of trading seen one that works consistently well. Sure, they'll all have good times, but almost sure they're going to have bad times as well. So the reliability of them, first of all, is not great.



Knowing I can read a chart with high probability.  



But to me there's more important things than that. As a trader, as a manual trader. There is nothing better than that knowledge, that satisfaction of knowing that I can look at a chart today, next week, next year, in ten years time, and with high probability and high certainty, predict what's likely to happen. Now, if I get the trade wrong, I get it wrong and I lose a small known set amount of my account.



But if I get the trade right, it's going to make two, three, four, five times my risk. And having that knowledge and that ability to look at different markets because who knows what's going to be out there in the future. If we were talking, say, like five or ten years ago, certainly ten years ago, we wouldn't have been able to trade cryptos, we wouldn't have been able to trade indices and commodities and metals on forex platforms.



So things evolve, things change. And I'm certainly not against that when I'm saying I'm not into A.I. or bots. But what I am saying, if you have that knowledge up here, that mental knowledge, ability, satisfaction to make those decisions, that is so much better than just relying on someone's $97 a month bot.



Limitations of using trading bots.



The other thing is, is if you buy this bot and it does really well, what happens if you no longer have access to it or what happens if it no longer works? And how do you know that? Because without that knowledge and that skill of understanding how that bot works, you have no way of monitoring it on improving it, on changing it, on anything to do with it. And so to me, that manual skill is still absolutely crucial.

I Don’t Know Where to Place my Stop Loss



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#545: I Don’t Know Where to Place my Stop Loss

In this video:

00:27 – Where should I place my stop loss?

01:18 – This is what most people do – and it’s wrong.

02:44 – Use support and resistance levels. 

03:20 – Always look at round numbers.

04:22 – How big is your stop loss?

06:14 – Attend my Masterclass, Prop Firm webinar and book a call with us.                       

06:37 – Trade through Blueberry Markets.



Andrew. I don't know where to put my stop loss. Can you please help me? If that sounds like you. Listen up. I've got some great information for you. Let's get into it right now.



Hey there, traders! This is Andrew Mitchem here with video and podcast number 545.



Where should I place my stop loss?



Now, I don't know where to place my stop loss. It's a question and a comment that I get all of the time. And it must be something that frustrates so many people because they just don't know where to put their stop loss. Why to put it at a certain level? And so it creates confusion, frustration, and inevitably leads to losing trades and therefore overall a losing trading performance.



Now, unfortunately, most people out there just don't know where to put their stop loss because they don't understand the market or they don't understand what is happening at that time. They don't realize there's a difference between different currency pairs in terms of the amount of movement or different time frame charts or different times of the day, volatility at the time. All these things make a big difference and it's something that you need to consider when placing a stop loss.



This is what most people do – and it’s wrong.



Now, unfortunately, most people out there who learned to trade through, let's say, watching some YouTube videos or a few forum sites, they unfortunately make the common mistake of putting their stop loss X number of pips away from the entry price.



Why they do that? Well, that's what most people tell you you should do. It makes it easier, I suppose. You go, I'm putting this stop loss at 20 pips away. Well, what on earth this 20 pips mean? It's completely and utterly irrelevant. You know, 20 pips if you're trading the EUR/CHF is massively different to 20 pips if you're trading the EUR/NZD as an example.



You know, one doesn't move hardly anything. Daily range of maybe, you know, 40 pips, the other one moves a lot. Average daily range of 100, 150 200 pips is vastly different. It also depends on what time frame you're trading, what time frame chart you are trading,

View my Monthly & Weekly Chart Trades



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#544: View my Monthly & Weekly Chart Trades

In this video:

00:33 – Great feedback about our latest videos.

00:58 – A look at my MN1 and W1 chart trades.

05:00 – GER40 Index trade.  

07:23 – Trade through Blueberry Markets.

07:46 – Attend my Masterclass, Prop Firm webinar and book a call with us.    

08:40 – Email me directly, like, share and subscribe.



In this week's video and podcast, I'm going to share with you two trades that I've taken, one on the monthly chart, one on the weekly chart. One's a reversal, one's a continuation, one's a forex trade, one's a non forex market. Let's get into that and share those trades right now.



Hey there, traders! It's Andrew Mitchem here at the Forex Trading Coach for video and podcast number 544.



Great feedback about our latest videos.



Loving the feedback that we're getting regarding the changes that we've made here and by showing you trades and just helping people to understand what the market's doing and to understand how we trade here in Forex Trading Coach don't forget we always promote very low risk per trade high reward to risk and the strategy works across all timeframe, charts and all different markets.



A look at my MN1 and W1 chart trades.



Now today's a great example of that. I'm going to run through two trades for you, the NZD/USD on a monthly chart and the German 40 index on a weekly chart. So let's jump straight onto the charts here and you can see the two trades on the cover, the first one here is a monthly chart trade that's just hit the profit target this week.



This is the NZD/USD Monthly chart. So going back here, this is the monthly chart. So this is the candle here that closed in February for the January candle sets January of 2024. And we decided to take the trade heading into the first February when the January candle closed. And you can see in here my trade was not actually filled until the 20th because I take limit orders.



So I'm looking to take a sell trade after this candle has closed, but I'm only looking at taking the sell trade If the price first retrace is now, I don't need to be sitting there waiting for 20 days for the price to retrace. On the 1st of February, I put my orders in. If within the first candle in this case, the one month the price retrace is to my entry level.



Fantastic and then takes me on a sell limit looking for the price to then fall. Now you can see in here that the market opened on this candle at 0.6110 and my entry level was 0.6162, so some 52 pips higher. And you can see that the price pull back up here got me filled as my entry level and the stop loss was fine.



It remained in the market and then the price fell away. By the end of February we were into some good profit.

See my H6 Chart Trades in Action



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#543: See my H6 Chart Trades in Action

In this video:

00:27 – Trades that I’ve taken on the H6 charts this week.

01:02 – Why I traded the STOXX50 Index.

02:25 – Sell trade on the USD/MXN. 

03:09 – EUR/MZN H6 trade makes profit.

04:41 – Last trade on the GBP/CAD.

05:29 – Low risk and high Reward:Risk trades.

06:50 – Trade through Blueberry Markets.

07:08 – Attend my Masterclass, Prop Firm webinar and book a call with us.   



Today, I'm going to share with you some six hour chart trades that we've taken just this week, some winning trades and some losing trades. Let's get into that and more right now.



Hi there, Traders! It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 543.



Trades that I’ve taken on the H6 charts this week.



I want to share with you some trades that I've taken just this week on six hour chart trades across different markets and different forex pairs. I'm going to explain why I've taken these trades and to give you an understanding of how we trade.



Now just to let you know also that when we trade at the Forex Trading Coach, our charts are a little bit different to this. I have some candle identifier software, pivot points, divergence, etc. on top. But what I've done for the purpose of this video podcast, I've stripped everything and so you can just see the actual candle patterns and the price.



Why I traded the STOXX50 Index.



So let's start here with the STOXX50, which is a European index. So we also trade non forex markets if the pattern show. And so you can see my trade in here. This is a six hour chart trade. It was taken on the completion of this candle here. And if you look at the first two results down here, you can see that one just got stopped out and the other went down to the profit target.



So what is it we're looking at here? Well, first of all, we have a lovely downtrend in play and then a reversal, By the way, we took this trade, is a buy trade last week. But this pulled back beautifully. And then we saw the continuation pattern heading down in a nice trend line break up through here at this candle closed below that trend line break we had a nice “n” shape that we look for and we actually bounced off a middle bollinger band.



We had a few other things adding to the trade but you can see in here my two entry levels and this mentioned the first position just got stopped out, the second position. Then price fell beautifully. So our profit target, which by the way, was before the 5000 level and before us swing low. So that was the at the first trade there.



Now we take multiple trades throughout each day and each week on our membership site and on my forum site. And so these trades were all posted there.