300 episodes

Andrew Mitchem is a full time Forex trader and Forex Coach with clients all around the World. Each week I provide you with the latest Forex news plus important trading tips and advise that will help improve your trading performance.

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Andrew Mitchem is a full time Forex trader and Forex Coach with clients all around the World. Each week I provide you with the latest Forex news plus important trading tips and advise that will help improve your trading performance.

    #541: How to make Hundreds or Thousands of Dollars per Trade

    #541: How to make Hundreds or Thousands of Dollars per Trade

    How to make Hundreds or Thousands of Dollars per Trade

    

    Podcast:



    Signup For my Forex Masterclass

    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 Watch Prop Firm Masterclass

    #541: How to make Hundreds or Thousands of Dollars per Trade

    In this video:

    00:26 – How anyone can make hundreds or thousands of dollars per trade.

    00:59 – Trade with the trend.

    01:38 – Reversals and Continuation candle patterns.

    02:11 – AUD/CHF H12 chart hits profit.

    03:20 – Use Prop Firms to scale up your gains.

    04:08 – AUD/CAD D1 trade hits the profit target in 5 hours.

    04:45 – You cannot take every Continuation pattern as a new trade.

    06:46 – Trade through Blueberry Markets.

    07:38 – Attend my Masterclass, Prop Firm webinar and book a call with us.



    Today, I'm going to show you how you can make hundreds, if not thousands of dollars per trade in just a matter of a few minutes per day. Let's get into that and more right now.



    Hey there, traders! It's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 541.



    How anyone can make hundreds or thousands of dollars per trade.



    So today I want to share with you how you, anybody it doesn't matter where you live in the world can make hundreds, if not thousands of dollars on a single trade. That takes you just minutes per day of chart time to see and to take.



    It's a really exciting opportunity that Forex offers. And the important thing for me is as a trader, I like to have high probability trades. You see, it's not so much by how many trades you take. It's about the quality of the trades.



    Trade with the trend.



    Now you've probably, if you've been trading for any length of time, heard the phrase about trading with the trend and it's a fairly logical phrase and expression because it makes sense, doesn't it?



    If the market's in a big uptrend that you should be taking buy trades. However, it's not quite as easy as that. And the trouble is a lot of people see a big trend and then they go, it's in an uptrend. I'm going to take it buy trade. And of course the market hits a high, turns around and stops and they take a loss.



    That is the danger that most people are reactionary and only see it's an uptrend after it's already done and completed and it's back to then turn back the other way.



    Reversals and Continuation candle patterns.



    For me as a trader, I trade two different patterns. I trade reversal patterns, which does mean selling at the top of an uptrend. But my favorite and preferred pattern is a Continuation Pattern.



    Now, I'm going to give you two examples from just this week of continuation patterns. So you can go and have a look at your charts. If you're watching, YouTube will probably put these on screen so you can see them. Obviously, if you're on a podcast, then you just have to go and find them on your charts.

    • 8 min
    #540: How to Survive a Financial Crisis

    #540: How to Survive a Financial Crisis

    How to Survive a Financial Crisis

    

    Podcast:



    Signup For my Forex Masterclass

    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 Watch Prop Firm Masterclass

    #540: How to Survive a Financial Crisis

    In this video:

    00:24 – How do we survive the next financial crisis.

    00:57 – Increase income, decrease expenses and save more.

    02:55 – What are my thoughts?

    03:36 – You need to change your mindset.

    03:58 – Plan and prepare.

    04:54 – Upskill yourself today in preparation.

    06:31 – Forex offers so may more benefits.

    06:51 – Live webinar with trades and my account is at +2% gain for the week to date.

    07:57 – Trading with a prop firm.

    09:02 – Give yourself 6-12 months to learn how to trade properly.

    10:00 – Trade through Blueberry Markets.

    10:06 – Attend my Masterclass, Prop Firm webinar and book a call with us.      



    Today I'm going to talk about how you can plan for, prepare for and get through the next financial crisis. Let's talk about that and more right now.



    Hey there, traders! It's Andrew Mitchem here at the Forex Trading Coach with video and podcast number 540.



    How do we survive the next financial crisis.



    Now, I ask people to give me some topics to talk about, things that will be helpful for you. And one of the main topics those come up is how do we survive the next almost certainly coming financial crisis? So to start and to prepare for this, what I've done is had a look on the Internet and I want to talk about what they suggest and then my thoughts after that.



    First of all, I have to let you know that what I'm about to say is not financial advice. It's purely my own thoughts and opinions, which may or may not work for you.



    Increase income, decrease expenses and save more.



    So did some research online, typed in how to survive a financial crisis. Upcoming standard answers of #1 increase your income, #2 decrease your expenses and #3 increase your savings. Quick overview on those.



    Increasing your income. How are you going to do that? Well, you probably going to if you're in a corporate job, work harder and up the ladder, which means less time at home, etc. like that. More stress. You may be working more hours in your current job. Not a great outcome either. Or you might be going there for a second or third job. Again, not a great outcome. So there's better ways you can do that.



    Number two, and decreasing your expenses is something that most people can do. From my own point of view, we like to be completely self-sufficient here. I say we're about maybe 80-90% self-sufficient in what we eat at home, and we choose to do that. We choose to grow our own food as much as possible with our own, you know, the fruit, vegetables, meat, etc. like that.



    Everything we try to do is our own choice for health reason and enjoyable reason of actually growing and eating our own food.

    • 10 min
    #539: Forex Trading’s Preflight Check: Building Your Plan

    #539: Forex Trading’s Preflight Check: Building Your Plan

    Forex Trading's Preflight Check: Building Your Plan

    

    Podcast:



    Signup For my Forex Masterclass

    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 Watch Prop Firm Masterclass

    #539:Forex Trading's Preflight Check: Building Your Plan

    In this video:

    00:34 – Heading off for a flight and carrying out my checks.

    02:01 – You need a trading plan.

    03:00 – Put in the time to ensure a good outcome with your trading.

    03:45 – The market does not have even trading conditions.

    04:42 – Trade through Blueberry Markets.

    05:06 – Attend my Masterclass, Prop Firm webinar and book a call with us.



    Today, I'm going to discuss the importance of learning to plan properly, planning your training, See now exactly what you're doing, whether you're flying a helicopter like behind me here, or if you're trading the forex market, you have to plan properly. Otherwise, you plan to fail. Let's get into that a more right that.



    Hey there, Traders! Andrew here, at the Forex Trading Coach, a video and podcast number 539.



    Heading off for a flight and carrying out my checks.



    As you can see, I'm out at the hanger. I'm heading off tomorrow morning. Quite early on a flight, quite a long flight, probably about a three and a half hour return flight. And so as a result of that, I'm spending some time here today when there's no pressure and I'm going through my entire preflight and doing all my checks.



    I've got my my flight plans here. I've got my airports where I'm going to inside here. I've covered everything I need to know in terms of the cockpit. I've got a huge manual here. It's about 800 pages that's just specific to this machine. And on that, I have to know all that. Of course, long before today. But you know, you've got to keep updated on that.



    I've been through the machine here. I've checked through and, you know, engines and oils and up on the rotor blades there. I've checked everything. All my preflight checks and the tail here, everything is checked. My fuels good is clean. It's all on board. I know exactly what I've got. I know where I'm going. I know my radio calls.



    I'm discharging my headsets up. So that's ready. I've got a spare batteries. I've got my iPad. I've got my phone. I've got everything I need to know to do the flight properly, safely, and, you know, to get a good outcome and enjoyable experience for everybody on board and to know what's going to you know, we're going to get there safely and just have a great day.



    You need a trading plan.



    So me doing this is no different to me trading. You know, I've got my plan and this is what I want to stress to you, that I just see so many people that don't have a plan, don't know what they're doing. You wouldn't believe the number of emails that I get saying, Look, I've been trading for six months and I go back and I go, Great, Well, you've obviously got a problem because you're contacting me.



    So.

    • 5 min
    #538: 7 Points to Help Develop Your Own Trading Plan

    #538: 7 Points to Help Develop Your Own Trading Plan

    7 Points to Help Develop Your Own Trading Plan

    

    Podcast:



    Signup For my Forex Masterclass

    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 Watch Prop Firm Masterclass

    #538: 7 Points to Help Develop Your Own Trading Plan

    In this video:

    00:25 – 7 points to help develop your own trading plan.

    00:36 – #1 Your personality.

    01:15 – #2 What type of trading do you like?

    02:16 – #3 What are your goals?

    02:55 – #4 Risk management.

    03:51 – #5 Know your strategy.

    05:16 – #6 Demo, live or a prop firm?

    05:50 – #7 Journal and record your trades.

    07:10 – Attend my Forex Masterclass.

    07:19 – Prop firm Masterclass.

    07:40 – Book a call to chat with us.

    07:52 – Blueberry Markets.



    Today. I'm going to give you some helpful tips and information to help you to develop your own trading plan as a forex trader. Let's get into that and more. Right now.



    Hey there, Traders! Andrew here at the Forex Trading Coach with video and podcast number 538.



    7 points to help develop your own trading plan.



    Today is all about developing a trading plan that's going to work for you. I'm going to give you seven points. That's going to be something that if you put this together. Massively help you.



    #1 Your personality.



    Let's start with point number one. So first of all, you have to understand yourself. What type of person are you? What personality do you have? What what makes you tick? You know what you like as a trader. Now, I find that naturally most people, when they start trading and I did exactly the same almost 20 years ago myself. They tend to navigate through to the shorter timeframe charts, the one minute, five minute, 15 minute chart.



    Some people think that's the where the most opportunities are, where the most money is to be made, and that's why people do that. And then they realize that probably doesn't work quite as well as they thought it might do. And then they start to look at something a little bit longer timeframe charts.



    #2 What type of trading do you like?



    So figure out where you are on your trading journey and what type of trader you are. Are you someone that likes to watch the news? I'm someone that likes to watch the charts. Are you a fundamental or technical trader? And then what you need to do there is work out the trading style and that will become, you know, in the cooperation of both of those two. Possibly it could be, you know, looking at the longer timeframe charts, this sort of more medium timeframe or the shorter timeframe.



    So look at what works for you. If you're out there, you know, you've got family, you've got travel to do, you've got work to do, you've got music, sport, whatever it might be, you might go, Well, you know what the reality is? I only want to look at my charts maybe just once a day or a couple of times a day or just a few times a week.

    • 8 min
    #537: The Realities of Learning How to Trade

    #537: The Realities of Learning How to Trade

    The Realities of Learning How to Trade

    

    Podcast:



    Signup For my Forex Masterclass

    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

    #537: The Realities of Learning How to Trade

    In this video:

    00:26 – A trading reality check.

    01:00 – Do you want it now or can you wait?

    01:41 – Adults are no better than children at wanting instant gratification.

    02:23 – How much can I make?

    03:23 – Doing the hard work first.

    04:33 – Not everything will go in your favour.

    05:09 – Don’t knock someone who’s trying to help you.

    06:00 – We can help you if you would like to trade well.

    06:26 – Book a call with us.

    06:38 – Blueberry Markets.

    Today, I'm going to talk about the realities of learning how to trade properly and why it's probably not quite as easy as you think it might be. Let's talk about that and more right now.

    Hey there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 537.

    A trading reality check.

    Now today it's a bit of reality check. And it's kind of like not being grumpy day, but just wanted to keep things real. I've had just a few interactions with people over the last week or so that just got me kind of beating my head against the wall. One was a client and the other is not a client, and it just makes me realize that there's so many people out there that are not real with their trading.

    Do you want it now or can you wait?

    Now, you may have heard about the experiment. I don't know who did it. It was quite some number of years ago where they got a bunch of kids, put them in a room, and they said to them they put like a sweet or lolly chocolate and in front of them and said, You can have one right now. But if you wait, you know, 15 minutes, we'll give you three.

    And of course, most of the kids go, I'm just going to take the one that they can't comprehend. You know, if you just wait for a little bit longer, you'll get three times the amount for just a little bit of, you know, dedication. And that was a kid's experiment.

    Adults are no better than children at wanting instant gratification

    Now, I think the same logic, unfortunately, applies to so many adults today as well, now that whether it's me, show my age or what, I don't know, but whether it's, you know, an instant gratification thing, whether it's a cell phone thing, an Internet thing, a Netflix thing, you know, another thing, everything just seems to be instant.

    And people unfortunately don't seem to be able to. A lot of people anyway, don't seem to be able to. And accept the realities of hard work, dedication and a bit of time, commitment and effort. And also not an instant answer, an instant fix.

    How much can I make?

    Now, I want to talk about that because I think that you've got to get your head around that if you're going to give yourself a realistic chance of being a successful fighter because everybody wants to know how much am I going to make, how long is it going to take me, how much do I need to my account?

    How many prop firms do I need? All these? How to what's the answer? And without actually figuring out that they need to ...

    • 7 min
    #536: Should You Trade Only the Major Forex Pairs?

    #536: Should You Trade Only the Major Forex Pairs?

    Should You Trade Only the Major Forex Pairs?

    

    Podcast:



    Signup For my Forex Masterclass

    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 Watch The5ers webinar

    #536: Should You Trade Only the Major Forex Pairs?

    In this video:

    00:32 – Should I trade just the Major FX pairs?

    01:34 – Don’t limit your options.

    03:08 – Trades on Minor and Exotic pairs this week.

    04:00 – Be careful with Sell trades and widening spreads.

    05:10 – Attend my Masterclass and book a call with us.

    05:22 – Webinar with The5ers.

    05:38 – Blueberry Markets.       



    Is it best to trade the major forex pairs only, or is it best to trade the exotic pest? It's a question that I get asked quite often, and this week I've got some great examples of why I trade both. Let's get into it a more right now.



    Hey there, Forex Traders! This is Andrew Mitchem here. The Forex Trading Coach with video and podcast number 536.



    Should I trade just the Major FX pairs?



    So as more and more platforms and more brokers offer more currency pairs, the question becomes, should I just focus on the major currency pairs? And there are obvious advantages to that. Pretty much the main ones would be spreads are generally tighter, you generally find the gaps and you generally find there's more people trading it. So the volume, liquidity, etc. is better.



    Therefore the moves are generally more flowing, more consistent. It also means, if you like, trading the shorter time frame charts that you or like trading quite often with frequency, you'll find that you'll find the spreads been so much tighter means that you can take trades on shorter time frames and more often and you're not paying, you know, massive spreads in the big movements just to get to break even. So there are certainly some advantages to trading just the major pairs.



    Don’t limit your options.



    Now, some of the disadvantages would be this one, it completely limit your options. So to me as a trader who's looking for sudden like couple of patterns, why limit your options? It's like, why limit the markets? This week I've taken trades on the Nasdaq and the S&P and we've taken trades on the JPN225



    So why limit to just, you know, the forex pairs? That's my thought. If the system the strategy worked on other markets as well. Last week you'd have heard me talking about a corn trade that I took, you know, which quite often take metal trades. We take crypto trade. So I don't think you should limit yourself if you find that your strategy worked on those other markets.



    Likewise, the downside were trading and focusing just purely on the main major forex pairs is that you tend to find they pretty much get dominated by the US dollar. So for instance the EUR/USD, GBP/USD, AUD/USD, the NZD/USD, USD/JPY, the USD/CHF and you know the old US dominant. And of course there are other, you know, sort of major pairs as well, but you tend to find that the US and you know and the yen ...

    • 6 min

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