#573: What Every Trader Needs to Succeed in 2025

Online Forex Trading Course

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<div class="span index">1</div> <a class="" data-remote="true" data-type="html" href="/series/the-agile-brand-with-greg-kihlstromr-expert-mode-marketing-technology-ai-cx">The Agile Brand with Greg Kihlström®: Expert Mode Marketing Technology, AI, & CX</a>

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The Agile Brand with Greg Kihlström®: Expert Mode Marketing Technology, AI, & CX

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Expert mode marketing technology, AI, and CX insights from top brands and Martech platforms fill every episode, focusing on what leaders need to know to build customer lifetime value and long-term business value. The Agile Brand with Greg Kihlström® features executives and thought leaders from top brands and tech platforms discussing the industry's trends, like AI adoption, first-party data strategies, artificial intelligence in the consumer journey, consumer data privacy, omnichannel customer experience, and more. The Agile Brand is hosted by Greg Kihlström, martech and artificial intelligence transformation advisor and consultant to leading brands, speaker, entrepreneur, and best-selling author. It provides a fresh perspective on the continually evolving dynamic between brands and the audiences they serve.

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What Every Trader Needs to Succeed in 2025 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 Watch Prop Firm Masterclass #573: What Every Trader Needs to Succeed in 2025 In this video: 00:29 – Setting your trading goals for 2025. 01:12 – What are you going to do to become successful this year? 02:40 – Trading in less than 30 minutes a day. 03:17 – When to look at the charts and what time frame charts to trade. 03:44 – Trading on large prop firms. 04:42 – Investing in yourself up front. 05:25 – Our 16th year of coaching. 05:45 - 17 minutes Masterclass and Book a Call. 06:00 – Blueberry Markets as a Forex Broker. 06:15 – Comments, Like & Subscribe How are you going to ensure that 2025 becomes a fantastic trading year for you? What are you going to do to make that happen? Let's discuss that and more right now. Hey there, Traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 573. Setting your trading goals for 2025. First video on podcast for 2025. So the obvious thing that everybody talks about at the beginning of the year is New Years Resolutions, setting goals, all those type of things. Now I'm kind of going to talk about that, but I also want to make it realistic. You see, I've sent out an email just yesterday talking about why people quit their New Year's resolutions, and already by mid January, most people are given up on diets and gyms and all these things they said they were going to do. So it's no good discussing that. Because realistically, some of those things are just not going to be achievable and you've probably already given up by now. So I'm a realistic, I like practical, realistic things, achievable goals. What are you going to do to become successful this year? So what is it that you are going to do to make sure that this year becomes a great trading year for you? What have you got written down? What have you set in place? What did you discuss with other people to ensure that with your trading, do you have the knowledge, the experience, the strategy, the support, to know what you're doing? Do you know, realistically, when you can trade, practically, when you can trade, how is it going to fit in with what you do, your lifestyle, your family commitments, sporting, music, work, whatever it is that you have going on in your life? So that's how we get to the end of this year. You can look back and go, yeah, look, I pretty much stuck to my trading plan because I set realistic expectations at the beginning of the year when I can trade what markets I'm going to trade, what timeframes I'm going to look at, what type of patterns or in news events. If you're a fundamental trader, what am I trading to make it real? What's my risk going to be? How many trades would I have open maximum at any one time. What am I realistic? Drawdown expectations. My profit expectations? Am I going to invest in myself? Am I going to invest in education? Have I already done that? If I've done that, have I actually followed through with that information and learned it properly? Or I just sort of glossed over it last year, not really giving it a good shot. All those things you need to decide for yourself, but make it real. Trading in less than 30 minutes a day. That's why I say that we can trade in 30 minutes or less per day, because it's something that's realistically achievable, it's enjoyable and it can be achieved by anybody. Doesn't matter where they live in the world or what their other commitments are. You can trade once a day at 5 p.m. New York time. You don't even need to be there, by the way. We've got clients in 108 countries. Of course, not everybody can be on at that time. So that's why we use limit orders as well. We make it real. We make it, something that is achievable to everybody.

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#573: What Every Trader Needs to Succeed in 2025

Online Forex Trading Course

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Online Forex Trading Course

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#592: Two Traders Talk Prop Firm Trading, Mindset and Lifestyle 1:11:27

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Two Traders Talk Prop Firm Trading, Mindset and Lifestyle 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 Watch Prop Firm Masterclass #592: Two Traders Talk Prop Firm Trading, Mindset and Lifestyle In this video: 00:25 – Andrew Mitchem and Rimantas Petrauskas talk trading. 01:05 – Rimantas’s background and how he got into trading and coding. 05:12 – Andrew’s background and how he started trading. 06:50 – How Rimantas discovered trading. 14:15 – Andrew’s style of trading. 20:40 – Breakthroughs for Rimantas. 29:39 – The dangers of algorithm trading. 36:12 – Controlling your emotions. 43:45 – Prop firm trading. 51:49 – How much do you really want to be a good trader? 58:39 – Andrew’s and Rimantas lifestyle outside of trading. 01:05:20 – Controlling your risk as a trader. 01:10:05 – Summary and contacting Rimantas https://www.mt4copier.com/ Hi everybody. It’s Andrew Mitchem here at the Forex Trading Coach. I’m, really pleased to be joined today by Rimantas Petrauskas, who’s over in Lithuania. Rimantas lovely to see you. Nice. Nice to be there. Thanks Andrew for having me here. Awesome! Look, I think we’ll be really cool if we can give everybody the next half an hour or so, depending on how long we spend. Andrew Mitchem and Rimantas Petrauskas talk trading Just talking a little bit about us, how we got into trading difficulties are trading, breakthrough secrets. That we found, you know, things that we’re looking at doing into the future. Some pitfalls that people may have, you know, the common issues that people fall into. And then to show everybody a little bit about us as people and what we do with, you know, friends, family, hobbies, etc. would be really cool. If we can do that because, I think we’ve both got a very similar kind of story, different different topics and different hobbies, but kind of similar in a way on different sides of the planet. Rimantas’s background and how he got into trading and coding. So, yeah. Tell us about yourself. Where are you based? And, and you know, family background, etc.. Yeah. So I just mute the phone. It’s just buzzing there. So I am from Lithuania. Yes. A small country in Europe. A lot of people don’t even heard about it. Like when I travel to US or somewhere, somewhere further from from Europe. A lot of people though, you know, like, where is it? You know, and I’m like, oh, it’s next to Poland, this small country, you know. So we have to do some background story about Lithuania. So yeah, I’m born and raised here all my life. I love living there. Lifestyle, taxes low, you know, all that stuff. And you can pretty much travel anywhere you want, especially with the freedom that you are on business. And, and trading can give you. Yeah. So that’s what I love about it. And, yeah, my story began, I would always say 15, 16 years ago, you know, you know the saying, well, there’s this, famous saying, they say, you get you get you get two lives, like the first one when you’re born and the second one when you realize that there is not, you know, the time is not unlimited. Yeah. So that’s when you start living. So I remember in like 2009, I went through a lot of transformations. I lost 30kg. I started exercising and started eating healthy. Started learning, you know, developing myself basically got into self-development, reading a lot of books, courses, starting flying to seminars, all that stuff, basically. So there’s been going on ever since, you know. So I always improve myself year after year after year. So I created my own business, got into trading, and it just never stops, you know, and I believe that it’s one of the most important things for everybody. It’s like, especially those who who feel stuck, you know, those people who feel stuck. There is a reason why you’re stuck. And the only way to get unstuck and move forward is to get yourself better. Every day. There is this, Japanese thing called Kaizen. It’s like getting better every day by just one step, one person. Right? You know, one thing a day. Yeah. One thing. And and we’ll we’ll have the same 24 hours, which, you know, eight of those eight of those will go to sleeping and other things. And your work and like, you know, but everybody of us can find one or a few hours a day that you can work on yourself or your dream or whatever the that’s, you know, or getting unstuck. So I remember when I started doing that, I just couldn’t stop, you know? So so now whatever a new day comes, I know I have a limited amount of hours basically, so I always want to improve myself in one year or another, you know? So that’s pretty much what’s been going on. And I love seeing in the past years and looking how much I’ve improved, comparing myself to who I was before, you know, it’s like you’re not trying to compare yourself with others because you are on your own path, on your own pace, improving, you know, so that’s an important part. Yeah. Yeah. So my life lately is like work, travel and trying to enjoy life because that’s all we we need. Yeah. Thank you. Right. Enjoy it. That’s what we’re here for. Yes. Andrew’s background and how he started trading. And that’s that’s fascinating. If I compare what you’ve just said to me on a slightly different timescale, but sort of similar, you know, New Zealand’s the same way we say to people, you know, other parts of, in other parts of the world, I’m from New Zealand. And they go, oh, that’s nice. Does that, you know, near Australia or is that in Australia? And I go, no, it’s like a, it’s a three and a half, four hour flight away. It’s a long, long way away. But people think we’re Australia. And the same thing, you know, we’re 5 million people. I think you’re about 2.5 million people. You know, we’re both very small but very nice places. And, it’s quite interesting that we both have a similar kind of, you know, love of our countries. But also we find that when we go overseas, almost nobody knows about our countries. Yeah, we find that, I got into I used to be dairy farming. I suspect you probably might have known that. And, I got into trading through getting divorced. You know, and it was. I had a young son at the time who’s about three, and it’s like, what am I going to do? So I started doing the same as you. I went to a lot of those, self-development conferences and, you know, to see a lot of people got into Robert Kiyosaki, “Rich dad, Poor dad” understanding a lot of those kind of motivational financial, you know, books as well. And I found that really good. And that’s how I kind of stumbled into trading. It’s how did you find when you got into trading, how did you find back then when it wasn’t known particularly well, how did you find people treated you? How Rimantas discovered trading. Did they think you were a little bit a bit odd or a bit lazy or something for doing it? The there’s a funny story of how I discovered trading in the first place. So I was on a 9 to 5 job back then. I remember it was 2007, 2008, sometime around that. And, I was just browsing online looking for ways for additional income. You know, I remember I found this, this software website or whatever, and I can’t remember the name exactly, but it was something called, like Forex Killer or something of that kind. You know, there’s a lot of fact turbos and those type of things back then. Yeah. And it looked like, you know, all very suspicious and stuff, but I don’t know why, but it caught my attention because, like, I back then, I was like, I don’t know what forex is, but but whatever this is, this is, it’s it’s killing it. You know, it’s like you can win like cheats, hacks and stuff like that, you know? And this got my attention. So I got him to start getting to know more and more about it. And I thought, okay, like, it seems I’m going to be a millionaire by next month. You know, that’s why I’m going to do that. Yeah. So obviously as soon I realized that’s not going to happen that fast. It’s not as simple as it is. You know, especially with that scale or whatever software back in the days. But but this is what got me into, you know, and, I’m a programmer. I’ve been a programmer since I was 12. Yes. I’ve always loved computers, you know, write code and stuff and tell computer what it should be doing. So it’s easier for me or whatever. So, I was very fast to create some indicators, trading bots for MetaTrader 4 back in the day. And and that’s where it all started, you know. So so eventually it’s not that I become a trader, you know, at that time, but I became a software developer for traders. I just started creating apps for others. Like I went on the forums, read what people are looking for, I just message them, you know, and they who can create this and that app. And I’m like, yeah, I can do it. And then I remember my first $200 that I’ve earned, like this guy from US, send me 200 bucks to create an indicator. And back at the day, 200 bucks was like, have to multiply by two, two and a half to convert to Lithuanian currency that we had at the time that we have euro. But back in the time we had let us. So that is pretty a lot of money, you know, and, and I’m like, okay, if I do this like five, six times a month, I’m pretty much making my, my salary, you know. Yeah. So I started starting doing more of that, just coding for others in the evenings. And soon after a few months, I started replacing my 9 to 5. It kind of kind of on my job, I would be working on the indicate, you know. Yeah. So nice. And soon, like after a year or two, I started making 2 or 3 times my salary from creating software because traders need that stuff, you know. Yeah. So, I wanted to leave my 9 to 5 job, so my boss kind of knew about it, and he invited me in for for a talk and he said, listen, so you other guy who we can find somebody to replace that fast, you know. Right. I was, I was working at the local internet service provider company, right in one of the small towns. And I was looking after 12 servers like Linux, Unix stuff, you know, all that text things. And in that, in that small town, there were not many people can do that, you know. So it took him probably couple of years to actually find somebody to replace me. So he just said to me like, okay, you go do your own stuff, whatever you need. We’re just leave the same, you know, same salary, same everything. You just do remote work, whatever we need. And I just did that. I worked remotely for them. Yes. So I just, you know, still collecting my salary. There was not much work I had to do for them. At the time, I just started my own business, sort of, you know, when it was more like freelancing. But later, after a few years, sometimes around 2014, 15, when I, when I went to my first, seminar to us, it was Brendan Burchard. Oh, yeah. Yeah. Awesome. Yeah, he’s he’s fascinating, all that stuff. Cool. So he, you know, I wrote my first book after that seminar, I remember, you know, self-published on Amazon. And it got to number four in the forex category. So, so all that stuff like it was really exciting times I remember. So I started my, my kind of, selling tools. On a subscription basis basically. And I was a software. So all my life I was first a software developer basically. That’s my business. You know, I know I always was very transparent about it, you know. Yeah. Because I come from a background of a programmer and that’s great that all the tools of over the years I’ve learned like what traders want, what they need, you know, and that’s that’s where it went. So over the years I had my success and failures in trading. You know, I would occasionally I would go in and out and all that, you know. But lately all this problem thing going on, I just saw like a really great opportunity. It’s like previously with not much capital, you couldn’t do much. You know, it’s it’s like if you have your like five, ten grand, there is not much you can, you can do in trading. Basically. That’s how I saw it, you know. Yeah. Now when you can get funded to these really bigger accounts, that’s where I’m after, you know. So I started to be more serious about trading, started build my software around what’s, what’s I need the most. You know, it’s like I flipped the switch basically previously. Yeah. Create whatever traders are asking, whatever they need, you know, but now is like, okay, I think this thing will get me ahead. You know, I think that new feature will give me edge, you know? So I started doing that. And there are a lot of traders that just follow with me, you know, with, with the software, with this new features and all that thing. So awesome. I believe, like, you know, that there is this saying, like all, all roads lead to Rome, you know. Yes. So that is like, there are there are a lot of ways to do the same thing and everybody of us find around. So I feel like I find my own way of doing that stuff. Yeah. Just the way you have your own and other people write their own. So though. Andrew’s style of trading. Because I imagine the way we trade is probably quite different. Yeah, I, I do know that and Yeah, I would love to hear more about your style actually. Yeah. Okay. Definitely. So, what I found is that when I started trading, which is now about 22 years ago, roughly, I also did a, like I did a course, I went up to Auckland, I did a course I spent quite a bit of money went up there, went on look back at it a few years later, the course was terrible, but I can’t I can’t knock it though, because it got me into trading a little bit like that robot was terrible, but got you into trading and it got me into the idea, so I can never really knock it, although, you know, it wasn’t great. And I then started buying signals from people, and I then started like, you bought the robots and, MetaTrader, I think it was MetaTrader 3 even back then, and then four and then trading View and all these different platforms. And I really got into that. I always struggled with making it work in real time. I really did struggle. And after a while I kind of thought, and this took four years, of developing my own ideas and it not work. And I suddenly thought, you know what? You’ve got to you got to make this work. And and I’m quite, I suppose, focused and determined on something. I think I can do. Despite everybody else telling you, you need to get a real job and it’s not working, and you need to, you know, start thinking seriously about going to work. Yeah. And that’s. Which is why I asked you that question. Because I got that quite a lot from people. And, you know, back in the day, the internet was, you know, dial up. And then one gig was like a huge monthly plan, you know? Oh, yeah, things obviously vastly different today. So I ended up stripping everything off my charts, like, everything. And I went back to thinking, actually, let’s look at the right hand side and looked at the price, because I figured out that all these lines and dots and arrows and bits all over my chart, I was actually not focused on what the price was doing. And then I started to learn about candles, and not so much a group of patterns, but individual candles and what they meant and then is like, oh, but this one, looks the same as this one. One works and one doesn’t. Why is that? And so I was realizing, like round numbers, which I use like 00 levels and 50 levels, like you’re buying into round number and it drops, whereas the next one clears a round number two carries on. So that’s where the price came into things. And then I started understanding Fibonacci levels and retracements and extensions. And I suppose I then built my own, system that, through trial and error of what I’ve learned, had learned up to then, kind of started to work for me, and I found it was consistently working. And the other thing that you remember back then, everybody was talking about their success or failure in terms of pips, and everybody always taught pips, and I could never, for the life of me, understand why a pip was important. Because, you know, back then, like, US non-farm payrolls, as it was called back then, you know, the monthly employment news, it would move like, you know, three, four, 500 pips in like two seconds. Yeah. And I thought, hang on a minute, but you’re making like 500 pips then. And on a really good trade, you might be making 20, 30 pips. It has no relevance. So I started to try and look at money management and really understand working for working at a percentage risk and a percentage game. And that was a big breakthrough as well to try and understand that. So anyway, you know, put all that together and I developed something that I could really see and understand. I then started to enter some competitions back in the early days of subscriptions, and I think it was called FX Auto from memory. About 2006 or 2007 or something like that. Anyway, I ended up, winning this competition, and that’s where it kind of all snowballed from there. And people wrote to me and go, like, I want to subscribe to your signals. And then other people said, look, I love what you’re doing, but rather than buying this, I want you to teach me how you do it. And so I got a guy over in Australia, in Noosa in Australia who’s still a client to this day. Back in around 2008 nine. And, he said, I’ll pay you to fly to Australia for a week and teach me, come and spend a week with my family and teach me how to do it. And so I rapidly put this course together, took it down to the local printers, got it printed and laminated in color and made it look nice in the folder, and flew over there and taught him. And, that’s kind of how it all started, completely by accident. And I thought, this is quite cool. People are paying you to teach. But more importantly, what I got out of it is it started to build a community of people. And and as you would know, and anybody watching or listening to this would know, one of the hottest things in trading, I think, is it’s quite a lonely business, you know, it’s full of, a lot of like scams and dodgy people. But also, I think from a trader’s point of view, it’s potentially quite lonely. And so I really enjoyed, getting to know people in person. And then I got asked by a broker to do some training up in Auckland and not go to Auckland here in New Zealand and teach people and it kind of then sort of built ten people and then became 100 people and then, you know, 500 people. And it became really kind of personal to build that community of people were all trading the same idea and helping each other. And I think that’s kind of, an undervalued part of trading as an, as an educator. I think that’s something that’s really important for people to get to be able to talk and communicate. I’ve. So that was, that was my kind of story and background. That’s quite. I’m sorry. In story. Andrew. Yeah. Yeah. It’s it’s and it sounds really familiar for me. It is. Yeah. I think we have remarkably similar backgrounds and slightly different stories, but similar kind of how it worked. Breakthroughs for Rimantas. What would you say was like a secret or a breakthrough for you with either your trading or your programing? That kind of made you go from sort of okay as a trader to like, yeah, I’ve got this. It would be difficult to, to pick one thing probably, you know, I would, I would say probably a few things. That got me, you know, to that breakthrough. Right. One of them, one of them was definitely the, the thing you were talking about. Pips and percentages. Yeah. You know, it’s, and to me, there is even more like, as a programmer, I had to do pips some points. Yes. You know, I remember, like, back in the days, there was, there was like a four digit number for the EUR/USD and two digit number for the, for European Pairs. Yeah. And then they added an extra number at the end. And then, you know, all those pips became like, you know, fractional, like you can do, like 5.6 pips, you know, so, so for software developers, I remember there were a lot of people coming in sending me there, all the indicators and EAs and that like convert them to be compatible with that new digit style. But yes, that was a lot of work as I was doing so, so all this confusing part and, and as fun as it is, like on the this year, I’m kind of converted to my software from not using pips, but just using points because it’s just easier to people. And a lot of people, especially newcomers, into trading. They don’t even understand why there’s like Pip and points and like what was happening there, you know. Yes. So yeah, so when I started looking at that stuff, percentages. That was one of the things, another thing that got me as well was looking into the stop loss size, not as a, as in pips, not to have it as fixed size, but to use something dynamic, you know, so usually traders use like, oh previous vainglorious swing high something like that. So we either use that or we use ATR indicator. Yeah. So, and the multiplier of that, this kind of works, you know, quite well, and lately I started looking at like to try the parabolic SDR. Yes. Because it’s this nicely below or in the above, it kind of it’s kind of the same as swing lower swing guy basically, you know. Yes. So yeah, that was the thing. And and I would say the, the biggest one for me was all the backtesting and just going by, you know, from, from data driven perspective. Right. On the trading. So the way I look at it, pretty much every trading strategy, if it’s not like very discretionary, you know, so it can be coded into an algorithm that can go in history and test to see how it would have performed in the past. Right. And while there are a lot of people who, you know, say a lot of things about how back test is nonsense and whatever, I always go back to saying, like, listen, so many great traders for decades, probably even centuries have been using paper trading. They just call it paper trade, you know? So they would just like print the charts and they would like, go on paper and look like, you know, what we can do to make this and that. So it’s just literally what we’re doing, like backtesting. So that’s the core of my software. But but the thing I learned, it’s like if you go in YouTube, there are so many videos, oh, watch me back. Does this strategy 100 times and it’s like 95% win rate. Whatever. When you look, look at the videos, somehow there is now no 9 to 5. It was just a clickbait. But you see how that guy’s doing backtest manually. He just goes on on trading view and draws, you know, entries and stuff. And I’m like, what the hell are you doing? You know, just go that stuff. Yeah. So so the way I tried, you know, I started doing like, I would take a very simple idea, like a pin bar or a bullish bearish engulfing. Like we had a lot of candlesticks, like we have probably like 12 plus different candlestick strategies inside the software, you know. Yeah. So we’d take we would take that and move back test back to like 50 or 100 trades to have some statistical significance. And then we will look okay. So if we use like pin bar so we buy and sell and we use this size of stop loss and you know 2 or 3 times take profit based on ATR for example, how would it look like? Yes. This tells you like instantly it draws everything on the chart so you don’t have to draw it. It shows like very transparent, like every trade it found. And it tells you the stats. And if and if it shows negative, obviously you would not want to trade that strategy, you know. So then you play around and change the numbers, play you know, stop size and things like that. And once you and once I got to the stage where I say, okay, this is nonsense, like you cannot sit there and just play changing the numbers because there are so many variations, like, it’s just not possible. You know, even though if I would do that, then it would take me ages. Yes. And I can do it fast. Now just input numbers, click and I instantly get the answer. But it’s still there are so much to try. So then I made the software to do what I call optimization right? Or or now I just started calling strategies canning or discovery basically because that’s what it is actually. So it would scan like 5, 6, 8000 variations with different stops and and different sizes for the volume pin bar, you know, all that stuff and it’s will after after scanning 8000 variations, we say, look, this is the best one in terms of return or return to drawdown ratio or, you know, things like that. And then you can get the CSV file, which is like a big one with a thousand variations, but you can easily filter all things out and, and you see a, you know, a dozen of strategies that look with awesome numbers, then you can go and implement that, you know, so you’re kind of trading now, something that worked recently for the past six months, for example. Yeah. So you know that this is bingo. And like we can we can’t know if this will sustain and go on like this in the future. This definitely doesn’t it doesn’t guarantee it. But at least we’re doing something that’s just worked recently. You know, not ten years ago, not five years ago, but but like recently, right now, over the recent months, you know, so I think that’s important. I always use this analogy that that sounds kind of really cool. It’s like when you go to buy a used car, you know, you want to ask questions, you want to look under the hood. You know, it’s like you want to see the car maintenance history, which is like backtest, you know, all those things. So you go, you don’t go and buy just like blindly, you know? So that’s pretty much what we’re doing with the strategies. And we always monitor and closely look at the metrics. And if certain metrics change in a certain way, we just stop the strategy. And then we either we optimize it or we just go with another one because right. Like I understand that a lot of these strategies are just short lived. You know, give it a few weeks, a few months and then just stop working basically. Right, for that period of time, as I see it, like Mark has shifted, things change. So that strategy might be a wonderful again in a few months time, maybe later, but not right now. So just pause it and go with another one. Yeah. So I realize that’s that’s quite a, a different trading style from a lot of people that I see around, you know, especially with those who are using discretionary trading because in my world, everything is like systematic trading, like you can put everything into the algorithm, you know. The dangers of algorithm trading. So one of the things that I see with algorithm trading is you still have to, you know, people see it as, as an easy way out. I’m not saying you, but, you know, other people see this as, you know, AI expert advisors, whatever. It is an easy way. Absolutely. Yeah. A lot of a lot of people still understand trading in order to understand either one how to write it or if you buy one, how do you use it properly and when to use it and what to use it on. I think people see that there were there was interesting realization even for me. I remember because you get so stuck in all that systematic things, you know, and you do realize that it’s not something you just put on the chart and it just makes you money. You know, it’s not that there will never, ever be a software available to everybody who just does that. You know, I don’t know why people think they can pay 100 or even 5000 whatever for some. Like if, if that robot makes money for not doing anything, you know, people would not be selling it and that and probably people would be killing for it. Probably Wall Street will kill you. Take it away and you know it’s it’s a bit of conspiracy theory. Yeah. But probably that’s that’s how the world works. Yeah, yeah, yeah, it seems to me, you know, you find the cure to cancer and you know, some things will happen for sure. Yeah. You won’t, you won’t be telling too many people. Yeah, yeah, yeah. So that’s the thing, you know. So, so what we have is not like you put it on the chart and just make money. You know, you always have to look after it. And and I remember this was very nice realization for myself. Last year when I was speaking with Alex Ong. I don’t know if you heard about the guy, you know, it’s like he’s my dear friend. I met him last year or so. So. And, and I remember when he introduced me and my software to guest, people because he’s trading a lot of candlestick patterns as well, you know. Right. He said, okay, listen, guys, once once you go and look for strategies, you know, with the scanner, just do it this way. You pick a direction. How you as a human kind of decide what the direction you should be looking strategies for. And I remember one example he gave me was like okay we’ll look at the dollar yen. So for the past year or two or whatever he said I can’t remember exactly. But for the past some time it’s only longs now, you know. So just try switching it to buy only you know, and just look for a strategy that on the buy. And I’m like, okay, let me try this. And I try and and the results on the backtest was like 4 to 5 times better than, you know, looking both directions. Yes. And I’m like, oh sure. That’s that’s how you have to, you know. So since then I started looking for ways to, to make this more systematic thing. But but you can never but you can never, you know, take out what’s in human brain. That’s I can’t tell you the thing isn’t a thing. So if you don’t see, it’s always it’s always you as a trader that has to make these decisions. You know, what are you what strategies you’re looking for and what where why this bear right now? Why not call? Why Nasdaq now? You know, it’s like. And when you do that you also have to realize we also have obviously like the automation stuff. You know all these strategies that I create. We have the automation module and then just trading then I don’t have to be there, but I have to be there to look, you know, after them. So if they’re making, let’s say, three, five trades a week, a strategy. Yes. So obviously for me it’s enough like, you know, half an hour a day or even 15 sometimes just glance at the charts, see all the numbers, find we have one trade running. Okay. And you just leave it like 30s basically, you know, it’s next day, you come back and you look again. You see, okay. We had like two stops. Numbers is not looking quite good. You know, I have to put some work to find maybe new strategy. Yeah. If all things go well, it’s making money, you know, taking trades and it’s going in your favor. You just do nothing. You just just look, you know, and and go live your life and leave it. Yeah. So. Yeah. Yeah. So it’s always the trader has has to do some of these decisions. Yes. There is a really nice analogy there that I always tell about about bots, not just trading bots. Anybody like a lot of people can relate to having a vacuum cleaner robot at home, you know. Yeah, yeah. It’s like pretty wide, world wide. Like, people know what it is. You know, you just have this vacuum cleaner, you go to work, you come back, you know, your floor is clean. Yeah, but if you have a dog or a cat and if it makes a little doo doo on the floor, the robots will spread it out everywhere, you know? So I always say, like, robots are stupid. Yeah. All of this, you know. Yes. With AI. Yeah. Yes. They getting more advanced and more smart and a lot of lot. You know, all that stuff, but in a lot of areas. And I still believe that trading is one of them. Yeah. It’s just it’s just guessing and if it’s and if it’s guessing based on some backtest and history data, and you know, the numbers and the win rate and stuff like that, if it can do that, I would say, okay, it’s smart to some degree now, you know, because that’s what we’re doing as humans and looking at these numbers and, and making decisions, you know. So as AI can write and create videos now and, and images, you know, it’s pretty much advanced. Yes. Trading like you just you just guessed and you either guess on on data or you just guess blindly. So a lot of of what we see online now, oh, this trading bar just made me rich. La la la. You know, whatever they’re selling, they just want your commissions, you know? Yeah. For trades you will make and those will be pretty much random. That’s that’s pretty much what’s going on. Controlling your emotions. Do you find this and this might lead nicely into what we do outside of trading. I find that the knowledge up here because I say to people, there’s two things you need to control and trading once you head and once you heart. Because trading is emotion. It you know, it’s emotion. You can’t ever get away from that. Even if it’s a prop firm and it’s not your money, it’s still emotion. So, do you find, though, that having that knowledge of trading up here, regardless of whether you use bots or manual trade, it’s so crucial that you have that ability to look at a chart or look at a robot and understand what’s happening as a trader, because otherwise, and I have this discussion with somebody I know who’s a fund manager, not anything to do with trading, you know, not forex, shared funds and retirements and pensions and things. And and I say to them, that’s great, I could hand you all this money, go do what you want with it. But I don’t actually get anything out of that up here. I don’t have any knowledge. I have nothing to share or to handle the kids, or I don’t feel good about it because what I love about trading is having that ability to look at a chart and make a decision, whether it’s right or wrong in hindsight. And, you know, in the end, I mean, is we have no hindsight, you know, in real time, make a decision. And if I get that right and I get that trade exactly what I look for it to do based on all these reasons, ABC, that’s a massive like thing for me. That feels really good to have that knowledge and information. I always say that mindset is one of the first things that people have to master. Yes. When you go into trading, yes. And it’s even if you go trading with with bots, you know, it’s like it doesn’t matter if it’s automated bad. No, it doesn’t matter. Like when you go to trading, I think mindset it comes first like you have to have a strong mindset that actually I’m writing a book on this now I can finish where editing it now. And you know, so I I’m really looking forward to release it this summer. I’ll let me know when it’s finished. Of course, of course. So I saw that a lot of people come in, they try 1 or 2 things and, you know, for a few days, for a few weeks. And they just quit. And then they call it B.S. and, you know, I’m like, no, it’s not like if you go to the gym three times and you didn’t loss weight (where’s your outcome?), you know, even you would be laughing at yourself. Yeah. It’s like because you are expecting to lose weight from three times you come to, you know, then people would go, start playing basketball like, oh, I want to go into basketball. And after three matches, three times you tried playing basketball. If you couldn’t do it or you played poorly, you know, it’s your first three times, you wouldn’t say, oh, basketball is not for me. It’s like, this is B.S. like basketball is a scam. You know? Yeah. Yes. And there was there was an interesting story. I remember I was lying in Miami Beach last year and, I had my day off, and I’m looking at this guy. He was like, probably in his 60s or 70. You know, you just came in probably some looked like rich guy in his retirement, you know, and he took this, he did like a kitesurfing, you know, where you’re surfing the kite. And it was kind of this the, the, the new one, not the kite on the long string, but you have your kite and in your arms, you know. Yes, yes. He tried, he tried that for like, I don’t know, half an hour. He didn’t catch any waves or anything like it was. He was struggling like you can clearly see it’s he was in early stages trying to, you know, to learn it. And so he did his practice for like half an hour or so. Probably got tired, you know, pack his bag and then just left. You know, I’m like looking at this and and thinking, okay, so he came here like he didn’t catch any waves. No fun. You know my problem if somebody saw other people might be even laughing at you. But I’m like, you can’t laugh at him. Like he’s trying to learn something, you know? And he definitely realizes that you will need a lot of hours until he can do this, you know, really well, like catch the waves and stuff. So why the hell when people come in trading, they expect after a week or so, or a few videos or just one course, no matter how good it is, you know, it’s like just become professional and start making a lot of money. Yeah. You know, nobody expects that in any other field. Yes. And I always use a sports as an example because everybody can relate to that. You know, it’s like you cannot expect to become a professional basketball player in a month. Yes. You know, it just doesn’t happen. You can get the basics and all that stuff, but then you need a lot of practice and practice and practice, you know, and always say even I’m a student right now and I’m always learning New Scotland. Absolutely don’t always like, yeah, you have to do that all the time. And you, you will never be perfect because whenever you feel like, oh, I’m perfect with whatever, Mark has changed now and you have to learn now new stuff, you know. Right. Slow. But once you in the bum. Yeah. There was no Trump before with his crazy terrorists, you know, and his like there’s always something new going on that. And that’s what’s good about the market isn’t it. It’s changing. We have to change with it. And add things remove things. Yeah. And a lot of that comes from mindset. You. So always before you start trading any strategy just ask yourself. So and it’s very easy when you look at the backtest you know. So if you see a backtest shows you that you know, back in time in the last six months, we see that there were five consecutive losses in a row, strategy like producing really nice numbers. But there was at some point five consecutive losses. So when five consecutive losses happens again for you. Yes. And for some strange law, it probably will happen now when you just started. Yeah. Yeah. So what are you going to do. Like how will you work with that. You know, and if you have risk too much per trade you will be in trouble. And probably by, you know, just risk 3% on the trade and by, by loss number three, you will quit and call it B.S. you know, it doesn’t work. But yeah, but if you risk half percent or quarter of a percent by loss number five, you will say, okay, five is normal for this type of strategy. If we get 1 or 2 more, then I kind of invalidated and okay, I’ll get back to the drawing board. But after that five, there is much big chance the strategy will just recover and go on, you know, so the that’s the thing and all that is in your mindset right. Prop firm trading. And I think we would you see we earlier we touched on prop firms and we didn’t really talk too much more about it. But obviously it’s a it’s a big thing right now. I mean, from my point of view as an educator, it’s a massive thing. And I’m sure your point of view, it is because, it helps people the, the issue I have is that people will come to me and go, look, I want to join your course. I like what you do. You’ve been around for years. Good reviews, all the rest of it. But I can’t afford it. Or, I’ve got a life course. I can’t justify it the wife, you know, to someone like that. Yeah. And and I’ve always said, look, I fully get that, and I respect that, understand it. But I’m teaching you how to do something. Whether you’ve got $5000 or $5 million, I don’t know. And it doesn’t really worry me. I’m still teaching you the same thing. And a prop firm is obviously opened up. That ability for someone who doesn’t, or either have funds or want to put their own into it, obviously trade significant funds. The issue, of course, is like we’ve just touched with everything going on up here, is that people see it as a quick fix, and they see it as an easy way to give up their job, which they hate, or something like that, because they see it as a way of making money without doing that homework and spending six months, 12 months on demo small, live account to trade properly first. And I see that all the time, and I’m sure that you must see that as well. I believe this opened up a big opportunity for people, as you said. Yes, all the Prop Firms, but I do as well understand that, it’s a lot of people see it as a quick fix. Yes. You know, I just kind of confirming what you said, but at the same time, especially last year, around February, we saw a lot of firms go bankrupt, you know? Yeah, they disappeared. Yeah, disappeared. So we started, you know, hearing the stories about this prop firm a scam, that prop firm a scam. Then then we were like, I’m in some groups on Facebook, and I see newbies trading, trading and sharing their, you know, experience with prop firms and pretty much every week, at least one post will be something like, oh, this prop firm doesn’t pay. It’s a scam, you know? So and all that is this funny thing to me is like how all this works. You know, I was like previous low this prop firms they’ve been there for like ages. Yeah. It’s but now they starting being available to retail traders, you know like as I say like people who are in the 9 to 5 job at McDonald’s and now they can trade with a prop firm, you know, so but these people doesn’t have the right mindset to look at it. So they will look at it that prop firm. Oh they didn’t pay me. Yeah. They didn’t pay you because you breached your drawdown limits. You know, you refused to believe that. Then you rather go online and spread nonsense and bad word about it instead of actually taking a look at it, understanding that you’ve made a mistake that you could not do and prop firms doesn’t want you as a trader, you know more. You open ten trades of the same kind. They luckily hit the profit target just because of luck and they don’t pay you. And now you’re mad, you know, because that’s not what they’re looking for. They want to filter out good traders. Yes. And and they always give this like, like, really nice. How to say that analogy. Yeah. Yes. Looking for that number. If you can bear with me for a second. Yeah. It’s like, Q where is it? Give me a second. World record run? So there is this, there’s this analogy that I give. So, so basically there’s a world record to run one mile. You know, I’m a runner. So that’s why it’s fascinating to me. So. So there is a guy in the world, I can’t pronounce his name. Elgar. Something. So he, he holds a world record for fastest mile. He runs. Right, you know, and it was like three minutes, 43 seconds. So three minutes, 43 seconds to run a mile. There’s one guy in the earth who can do that. Now imagine if Prof firms would put a drawdown limit. Like look at an analogy and they would say you have to run a mile in 3:43. Yes. How many people can actually pass this challenge and get right that the only one on the one person is what you know? Now imagine if they say, oh, you can run a mile in 30 minutes, 29, 30 minutes. You know, everybody would be, you know, yes. But can you then further sustain that running and do it? Well, yeah, of course not. You know, if you if you can run a mile in 29 minutes like you’re like the most unfit, it’s person like you probably, you know, so so instead prop firm said okay, what if we look for people that can run a mile, let’s say in in seven minutes, you know, and it will be a challenge even for me. You know, I was like five, six, seven minutes, let’s say that range, you know, so if you can run a mile and in six minutes, there’s probably very few people in your town that can actually do that. They can do that properly. Yeah. And consistently. Yeah. So that’s what firms are looking for. Good traders that can demonstrate consistently that they can make money. They don’t need to make huge amounts. They don’t need to double accounts. They don’t need to make consistently 10% of remind because it’s not a salary. It doesn’t work that way, you know. So when people come to trading and how much money can I make with your software? It’s like there are so many questions now before I can answer this, how to be like, yeah, how suppose I know? Well, I don’t know, what’s your capital? I don’t, you know, there’s so many things, right. I just can answer that question. And it’s like, oh, you’re a scammer. You don’t know. You know. Yeah. So people are very fast. Yeah. And when you give people a realistic number, a low realistic number, they tell you it’s rubbish and I can do bigger somewhere else. Yeah. Yeah. I was saying like yeah you can, you can do like half percent a month and it’s like, oh I don’t want that. You know, I want to go somewhere else. Yeah. That’s right. You know. So that’s the thing. So the way I look at problem firms, they’re looking for really good runners. So they seek, you know, and there are only few in your town. Will you be one of them? And imagine how much time it would take you to train to actually run that mile that fast. Yes. You know, so imagine now how much time it will take you and how much effort you have to put in to become a trader worth passing the challenge and trading with a prop firm. Right. And all these rules that they have, all these drawdown limits and everything there are here. So they could filter out all these like gamblers and, and you know, these kind of people basically because they want good runners. Absolutely. And and I think that that’s such a great analogy. I’ve not heard the running one. How much do you really want to be a good trader? From a personal point of view, you know, there’s a number of things that I’ve learned over the years that I found difficult, but I wanted to do and I think wanting to do it is half the battle. And that’s the the issue I see with prop firms, people say they want to pass a prop firm, but it’s like, do you want to do that groundwork that homework and really want to do it? As an example, I’ve been playing the guitar for the last three years. I’ve just started to learn to sing this year. I really want to do. I practiced half an hour, an hour every single day. I’ve got my guitar microphone just sat right here next to me, you know, because I want to do it properly. I get good tuition. So, 12 years ago, I learned to fly a helicopter. You know, and same thing, obviously with that, if if you can’t, it’s one of those things that not many people can do because it’s so difficult and you have to put a huge amount of hours and it’s not just flying it, it’s all the other stuff. It’s the footwork, the law, the how your body works, the maps, the clouds, the you know, the navigation, the mechanics of it all that goes into it before you even, you know, saw the turbine or a piston engine. There’s so much more to it. And that hundreds and hundreds of hours that go into something like that. And once you pass your license, you’re then starting to learn, and trading’s the same, isn’t it? Like we said earlier, we’re constantly learning, constantly developing and adapting. And I think I have that fear that we’re trading because online, it’s made to look so easy that most people fail to understand that this whether it’s, again, whether it’s manual trading or whether it’s automated trading, so much time and dedication and that desire to want to do it is missing from so many people. They see a quick fix, a well, I get the email, I’ve got $500, but I want to quit my job and make $5,000 a week as I. How do you how on earth do you think that’s going to ever happen? Yeah, I know I’ve heard people when they quit the job and it’s like, what are you going to do next? Oh, I will gonna learn this forex thing, you know. Yeah. And they call it forex thing because it’s just very new to them, you know. That’s right. It’s like it’s some work. Yeah. Yeah. So let’s move on to lifestyles because we probably can’t close on an hour. Both of us have lifestyles that we’ve created that probably a number of years ago we didn’t have. And trading in both of our, cases has helped. And we work around our trading. And I think we both love life and do things because we’re motivated hard workers. Let’s, everybody know, you know, about your running and your what, what’s developed in your life out of that family, etc.. Yeah. I will begin with, with saying how I admire you learning to sing and the guitar and everything. Yeah, I love it. Thank you. I remember when I was in high school, I really dreamed about becoming a singer. And even roads songs back then probably have like ten, 10 or 12 songs written, like. Yeah, and but I never was a good singer. I tried to be, but I didn’t put enough effort into that. Yeah. And I quit it when I started, you know, working college and all that things. I stopped it and, and always look at this as a good example of what you just set, you know, it’s like you really have to want it, you know, probably didn’t want that enough. You know, I think that’s right. Yeah. So, yeah, the lifestyle, I built something for myself that always wanted a lifestyle like this, and, and I’m still building it, you know? Yes. So I always wanted to travel the world, and I always wanted to be the guy with a laptop who can go anywhere and just do it, do the work, you know? So that’s what I’m doing. So I’m pretty much traveling almost every month, right? It’s like last month. I just got back from Greece, you know, April, I was in Miami. March didn’t travel anywhere. February. I was in California, Arizona, Utah. You know, like travel, travel there a bit. Very nice. So, yeah. So this month, like the Salem going to Switzerland for, for, like for five, five day, I love it, I love hiking in the mountains and stuff like that, you know? So, so that’s, that’s the lifestyle book for myself because there are so many places in the world where I would like to travel and experience it and see different cultures and, and be in different mountains, do different runs and, you know, and, and if you have just like two weeks of vacation every year, which most people, that’s what they have, it’s pretty much very difficult to do that. And I was that guy before, you know, and I would get my two weeks off vacation and I would usually go somewhere where you want to just relax because that’s all we have like two locations to relax. You know? So basically now I’m building it this way that I could work in travel. And my trading and myself, the business allows me to do that. So that’s, that’s really nice. Apart from that I see myself just pretty much doing sports running. I really love hiking and doing hiking outside of the country is the best, best hikes you can find. You know, Europe and pretty much everywhere where you see the mountains. Have you been to New Zealand? No, I haven’t, I have gone and I and I still see it in the window. Yeah, I can imagine. And I still remember you invitation. So I’m still here, but I’m building myself there is that I really need to, to go that far, you know. But, yeah, I, I really need to plan for it, actually. So, you know, it’s like being in Europe. It’s it’s easy. You we have everything there, and it’s just like 2 or 3 hours away. Yes. So it’s like a no brainer to book a flight for like 5 or 7 days to go somewhere, you know, in the mountains. Andrew’s and Rimantas lifestyle outside of trading. Well, I’m just looking at the map behind me. I don’t know if you can see it by maybe the right way. New Zealand’s not even on that map. It’s, Oh, yeah. Yeah. I was, when we were talking earlier, I was going, I can see where you are up there, but where am I? I’m not even on their. A Trader from New Zealand. Doesn’t even show. It’s not even on there. Yeah, that’s that’s not. We have some lovely mountains and, some great outdoor ramps or as we call them here, tramping or hiking. Yeah. So, you’d be very welcome to come over here. So what’s the hiking done for you? Like, obviously, we both love the outdoors. We’re on 11 acres here. We grow as much food as we can of our own. I’ve got my chickens. And, you know, we try to grow everything, cook our own food. From the health point of view and the enjoyment and the fitness point of view, grounding, being outside these glasses, like I said earlier, I don’t need them. They’re not glasses. They’re for blue light for screens and things. So all those type of things, the health things. I’m a bit older than you. You know, to me become really, really important because obviously stood looking at a chart or a screen or like you in coding. We’ve got to have that balance and that blend between getting outside, getting in the day, getting green, running, flying, whatever. It might be really important, isn’t it. Yeah it is. And when when you look at, the way I look at hiking and all my trail runs, you know, like, I love running long distances. Not that I do that very often. Yes. You know, but I would try to escape at least once a year somewhere where I can do one of my crazy runs. What? I would say something like 50km and more, you know, aggressive when you, when you, when you run in one go. And we, we’ve done some pretty, interesting runs with, with my, with my friend. You know how one crazy friend that can run for, like, his record is 100 miles in one go? You know, he’s that crazy. Yeah. What would roughly with that take to do? Like length of time? Roughly how long would that be? I think it took him like 20, 26 hours maybe. I can’t remember exactly. But journeys. Yeah. Yeah. And and they did that in a they did that in Finland during the time where there’s always a day. Yeah I know you know that. Yeah. So they did that. I think they slept for like half an hour maybe or something. Yeah. It was nuts like you said. Like never ever. But you know, if you wanted to try hit summit, take it off the list. Yeah. So I’m not crazy like him yet, but. But I will always find myself challenging for, you know, for these things. So the the craziest run we did with him was that we run across Lithuania from top to bottom. That was 500km. And we did that in nine days. So that was pretty much like there were days like 50 to 70km we would be running, you know, pretty much all day. You run and you get some rest, you run again. And this. That’s why me that’s why I a helicopter, I just fly. But all this like, imagine again like. Yeah, you need, like, strong legs and, you know, all the endurance and know that you also need this. Yeah yeah yeah mindset. That’s like because a lot of times the mind will tell you stop now it’s enough. Yes. But actually it’s just, you know, you just lying to you. You can go way further than that. Yeah. That, you know and and I believe that’s an important part for me, building that mindset to be stronger and stronger because we need a strong mindset in trading as well. Right. And in life in general, you know, so obviously there are many ways to improve your mindset and but that’s one way of how I’m doing it. You know, it’s I did karate for about ten years or ten, maybe a bit more, and put all my kids through it and some of the great things that you do when you’re absolutely, completely shattered the grading to get your belt, when you start getting into the high grades and when you’re in a sensei teacher level, they know you can do it. They know you’re good enough, otherwise they wouldn’t put you through for the grading. What they want to see is how much. And you go through that pain. How much do you really, really want it? Rather than going, oh, I’m giving up this too hot. You know, and like you said, if you’re doing these, you know, tournaments or, you know, better exercises, whatever it might be, and they go just stick out a stick and you take your head and your mind off somewhere else, and then all of a sudden you’ve done another hundred of them or push up. So whatever it might be that you thought 100 ago, I was completely dead. And I can’t do this, so you can do it. Like you said, it’s up here. How much do you want to get through that thing? Take yourself somewhere else in the mind And assist them in trading. Like whatever. You get stuck because you just lost, you know, I don’t know, five, seven trades in a row or whatever. Just just think about it like this mindset thing. If you have strong mindset enough you will not quit it. You know it’s okay to pause. It’s okay to call it a failure today. You can get back tomorrow or the day after, you know, and look at it with fresh new look and just don’t get too emotional, you know. So you need a strong mindset in that because there will be bad days, bad months. And you know, so that’s the thing. If somebody buys a car, they would probably never expect to not have a scratch on the car that somebody will bump with the doors, or even they get into small accidents somewhere and scratch your car or whatever. Like it would be silly to not expect it, you know, because it just happens every day. So if you go into trading and you expect to to never have a losing week or losing month, you know, that’s just like it doesn’t sound right. Yeah. So there will be this thing. So you have to you have to build your mindset the right way to, to be able to live through that basically. Yeah. Not quite too soon. Absolutely. That’s fascinating. Controlling your risk as a trader. And and like this I think from a practical point of view and summarizing that one of the things I always stress, especially when people are on prop firms, is make sure your risk is very, very low per trade. I think that’s huge because like you said, you can have several trades all getting stopped out in a row it’s not going to wipe you out. It also means that if you have trades that are high reward to risk within a couple of trades, you back to break even, then back into positive territory. And it’s having that confidence in that strategy and that system and getting that money management right that will become key that I believe, to a trading a trader’s success. It’s like the whole thing that we’re talking about, whether it’s running or karate or whatever it is, they all blend in. They’re all the same, aren’t they? Trading another one of those things? Imagine if you if you try to run a mile and break a record, you know, even your personal record. Let’s say this like, I don’t know, let’s say five, seven, seven minutes out and you’re trying to break a personal record. So imagine how many times you’ll have to do it and actually train hard to to break your personal record. Yes. Every time you try it and you fail, just think of it like, a lost trade, you know? Yeah, we just lost the trade. You just lost it, you know? And you might try ten times. You might try 15 times, but eventually will break it, you know, no personal record. And then when you look at it this way, you realize if you if you risk small enough on every trade that it allows you to survive, I don’t know, it’s like 20 trades like, yes. In a row. Yeah. You’re still in the game. You know, from that kind of perspective. When you look at it, it doesn’t hurt you emotionally too much. If you if you hit a stop loss again and again. If I always say like if, if you just hit a stop loss and it hurts you emotionally or even physically, you know, so it means you were risking too much on that trade. Otherwise it wouldn’t like doesn’t matter like I yeah, I was given an example the other day and it says like, okay, so you want to get in the proper trading, just go and buy an account 90 bucks like FDM or whatever. Like $90. Yeah. The small is like ten, ten K and people would be like, oh, I’m not very I don’t know this. I don’t know that. I’m like, yeah, that’s that’s like people imagine when they start running. They don’t know nothing about running other than like there were running ideas. There were kids, you know, so you know how to place trades. You click buy and sell. Yeah. And I’m like, yeah. So that’s pretty much the same as as a kid knowing how to run you just you just run, you know. So if you want to start running and training for a marathon now so what do you do? Like you just buy your running shoes for longer distances and you go running. Maybe you will run two kilometers, maybe five, I don’t know, but you just start and you run and then you will fail to run a marathon for probably a thousand times until we actually can do it. Because the first run will be 1 or 2km. You will suck, it will be slow, you know? But that’s the thing. So you buy your first challenge account and you go try and and it will be very not perfect. You will blow it, you will make mistakes, you will look, but you will get yourself in the game and you will start trading, you know, go to non. Yeah. But then you apply that one knowledge to risk very small amount and you can start playing with something like $25 a trade. Yes. So you just so you basically in like in reality you, you’re risking your line to box in reality that you actually paid for the, you know, and inside the prop account you are risking 25, which is not actually even real money, you know. So how can this hurt you? Yeah. So if you are failing, trade off the trade and this hurts you because you are failing, not because of the amount it means you are getting too emotional. You need a stronger mindset, you know, so you have to do something about it now. So you have to improve and look at this. And but that’s what gets you stubborn and go out there and look for solutions and improve yourself and learn more and more. So I believe that’s probably one of the best ways to get into the field, isn’t it? Absolutely. You just you just start knowing that you are not perfect and knowing that the first few tries will not be good, you know? Right. But but as a you start you accumulating knowledge. Yes. Summary and contacting Rimantas https://www.mt4copier.com/ Hey Rimantas. I think we should probably call it a day that we’ve been going for. We said maybe half an hour. I think we’re probably about an hour and 15 or 20. We could talk for hours, I have heard. How can people find you? How can people contact you? Obviously I can put a link here somewhere as well, but what’s the best way for people to get hold of you? I we have multiple websites, but probably the two most popular. That’s the, fxmagnetic.com. Yes. Or MT4copier.com Yes. That’s awesome. Thank you. Hey look, Anything you want to add or. We’ve we’ve covered a fair bit, obviously. I would say like we’ve probably covered we’ve covered a lot. Yeah. We could go for another hour and a half and do another one one day. And, I just want it’s an absolute pleasure to, to finally get, you know, face to face with you. We need to do it in person one day. I really, really enjoy that. And, thank you so much for your time today fascinating insights into your thoughts and mindset and everything that you do. Congratulations on everything that you’ve achieved in the industry. Thanks, Andrew. Thanks, Andrew, Thanks for having me there, for thanks for the invitation and for everything you do for traders as well. Awesome. Take care. Have a great day over there. You too. Episode Title: #592: Two Traders Talk Prop Firm Trading, Mindset and Lifestyle 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…

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#591: Why Smart Traders Let the Market Come to Them 6:38

۹ روز پیش6:38

6:38

Why Smart Traders Let the Market Come to Them 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 Watch Prop Firm Masterclass #591: Why Smart Traders Let the Market Come to Them In this video: 00:32 – Why does the trade always go against you? 01:22 – Why do you enter the trade where you do? 02:32 – I use limit orders to enter a trade. 04:22 – Entering the market for a reason. 04:50 – Get onto my 17 minute masterclass. 05:18 – Blueberry Markets as a Forex Broker. Do you feel that as soon as you enter a trade, the market goes completely against you? You’ve entered a buy trade. What happens? The market drops. Well, if you do. I’ve got a great solution for you to help you with that problem. So let’s find out about that a more right now. Hey there, Traders. It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 591. Why does the trade always go against you? An issue that I find so many people feel that they have is they see a trade. They place a trade. Let’s say they place a buy trade on the EUR/USD and they’re expecting the market obviously to move up. Well, what happens when market moves down. And they feel that as soon as they get into that buy trade the market’s changed direction. It falls against them. And they take a loss on the trade. And they feel frustration because it’s almost like the market knew I was ready to place a buy trade. And it waited for me to place that buy trade. And then it fell. Why does that happen? Complete and utter frustration. And people feel it all the time. And they have done for years and years. And I know when I started trading, I used to feel exactly the same. So there’s a few things here to help you with. Why do you enter the trade where you do? When you place that buy trade, for example, why do you place that buy trade at the time you do? Do you place that buy trade? For a technical reason, let’s say if you’re a technical trader, do you place it at a just above a round number or just above a previous support level or a resistance level from a while ago now becomes a new support level, a swing low that may have been at that level already, or it’s the daily pivot point. Or why do you place that trade? Do you have anything else to back the reason for entering that trade right now, other than “I’m ready, I’ve seen a set up, I’m placing buy”. Because if all you’re doing is placing by for some random reason, then why would the market suddenly go in your direction? Because quite often you might be finding that the market will keep falling back to that support level or something which is below your entry price. Don’t forget that most people place a trade because they happen to be ready, and that’s not how you should trade. I use limit orders to enter a trade. For me in most of my trading, I’m mainly use what are called limit orders. So as a buy trade, for example, I’m entering below the current price and I enter the trades for a reason at that price for a reason. So I’m not expecting just to randomly go buy sell, buy sell because I happen to be ready. What you should be doing is looking. Let’s say you’re talking about this same buy trade. And let’s say that the market’s been moving up really nicely and it pulls back rather than just buying randomly, more likely near the top of the market. Wait for it to retrace and then into your buy trade. So when you think about this logically, with a buy trade, a buy limit order, I’m buying below the current price. So naturally I’m expecting the market to move in waves up and down, which it does naturally anyway. It’s just by using that buy limit order. I’m not sitting there waiting for it to keep coming back and back and back and back and back and now I’m going to press buy. I’m not doing that. I’m seeing the trade set up and I’m saying I’m taking a buy trade here. If or when the price pulls back to this level first, and then I’m entering the buy order or the buy limit does that for me because I place that with my broker. And I’m, I’m then expecting to enter that buy trade and then the market to move back up again. The great thing is that with the buy limit order, I’m not sitting there waiting for that price to come back and then having to manually enter the trade. I enter the buy limit order, place the trade. If it gets filled, it does great. And if it doesn’t, it doesn’t. Entering the market for a reason. And by doing that, I’m entering for a reason. I’m not just randomly saying I’m taking a buy now. The market’s gone against me. Why does it always do that? Grumble, groan which most people tend to do. You need to be placing as a technical trader. You need to be placing these levels, your entry and your exit levels, and of course, your stop loss safety level for a technical reason. Don’t just randomly do it. If you’d like to find out more about how we can help you to overcome that frustration of feeling that the market’s going against you all the time. Because don’t forget, I’ve been doing this for over 20 years and we’ve been teaching for over 16 years. So we’ve seen it all. We know what works and what doesn’t work. Get onto my 17 minute masterclass. And if you’d like to find out a little bit more about how we operate and we how we can help, you have a look at my on demand masterclass. Blueberry Markets as a Forex Broker. And if you’re out there looking for a top quality broker, I can highly recommend that you take a look at and suggest and consider Blueberry Markets. They’re a great broker. Most people around the world can trade through them. There’s a few countries that can’t, and that’s unfortunately the way with licensing, etc., but the vast majority of you out there can trade or have the option to consider Blueberry Markets. I use their MT5 platform. I’ve used it for years. A huge amount of markets, massive amounts of different time frame charts. And when I say markets, I mean forex and non forex markets and you won’t find better service. Us at The Forex Trading Coach, our service is pretty good. We aim to be like exceptionally good. Blueberry Markets would be on a par with what we do to help our clients with timeliness and efficient and good answers, and looking after people. That’s what we’re about. That’s what they’re about. That’s why, not only are they a good broker, but that’s why I recommend them over, like all the other brokers out there. Yes, there are a lot of very good brokers, and I work with lots of good brokers. But Blueberry, overall, I think they’re hard to beat. Have a look at them. I’ll put a link here as well. So this is Andrew Mitchem here at The Forex Trading Coach. I’ll see you this time next week. Bye for now. Episode Title: #591: Why Smart Traders Let the Market Come to Them 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…

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#590: What Every Struggling Trader Needs to Hear Today 4:25

14 روز پیش4:25

4:25

What Every Struggling Trader Needs to Hear Today Podcast: Find out How We Can Help You 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 #590: What Every Struggling Trader Needs to Hear Today In this video: 00:25 – What is holding you back from being a successful trader? 00:52 – Examples of common frustrations. 01:31 – Email me andrew@theforextradingcoach.com 02:47 – We want people to be successful traders. 03:24 – Get onto my 17 minute masterclass. 03:33 – Blueberry Markets as a Forex Broker. 04:09 – Contact me https://theforextradingcoach.com/learn_to_trade_forex/ What’s holding you back from being a fantastic and successful trader? Let’s talk about that a more right now Hey there, Traders! It’s Andrew Mitchem here, the owner of The Forex Trading Coach with video on podcast number 590. What is holding you back from being a successful trader? So I’d like to find out from you what’s holding you back. The reason I wanted to do this is because I want to help you. We’re already, like, into June. The year is disappearing fast. So rather than the usual videos and podcasts where I’m giving you information, I thought I’d change this around and ask you to provide me with information like what is it that is holding you back? Examples of common frustrations. It might be a number of things. It’s probably not just one thing, but to give you an example. It could be that you just don’t know what you’re doing. You’ve got confusion. You’ve got analysis paralysis. You might not think you have enough money to start trading or enough time to start trading. Or you might think you live in the wrong part of the world. On the wrong time zone or too many kids. So you’re working too many hours, or your strategy doesn’t work, or you’re on forums all the time trying new things and nothing seems to work, or you think it’s time to start blaming the market, or your broker, or you’re not sure what markets to trade. There could be a variety of things. Email me andrew@theforextradingcoach.com But what I’d love you to do in order for me to help you, I’d love you to send me. Send me an email. And my personal email address is Andrew@TheForexTradingCoach.com. I’ll put a link to that somewhere on this page. If you’re watching or if you’re listening, you can just write that down and email me directly. But I’d love to get some feedback from you of what are the main things. As I’ve mentioned, it’s probably not just one thing. Give me a list of reasons that’s holding you back with us that you feel is holding you back from being profitable. What is it that I can provide content with to help you to become successful? Obviously you can’t change the market. So if your issue is the market is not doing anything, which is probably not very true, but let’s say that was your issue. I can’t help you. We’ve had the market is, of course, but everything else or pretty much everything else. I can probably with my 20 plus years of experience and my 4000 plus people of clients who I’ve helped to trade. I can give you some fairly good, information back to help you the best that I can. We want people to be successful traders. And that’s what I do as a coach. I want to see people being successful. That’s the whole reason I do. What I do is the whole reason why there’s 590 videos here. Let’s try and get a community of people from right around the world of all ages and, and backgrounds and levels experience and different jobs and careers and everything else. But let’s get everybody who wants to trade, who wants to put some time and effort into their trading. Let’s get people successful. Because that’s, after all, is why we do what we do. So send me an email, give me feedback and information, and I’d love to be able to help you that, Get onto my 17 minute masterclass. If you’d like to jump on my masterclass, which is only a 20 minute long masterclass, it’s really informative, gives you information about how we trade and teach and what we do. I’ll put a link to that. Blueberry Markets as a Forex Broker. If you’re out there looking for a good broker and a broker that is a good, honest, reliable broker that’s been around for quite a number of years now, they offer the MetaTrader 4 and especially the MetaTrader 5 platform, brilliant customer service. Very fast to, get funds back to you when you withdraw funds, a massive amount of markets on their MT5 platform. Have a look at Blueberry Markets. I’ve been with them for years. I’ve sent hundreds, if not thousands of people through to them. And every time all I get is good feedback. Contact me https://theforextradingcoach.com/learn_to_trade_forex/ So don’t forget to email me. Send me an email. Andrew @TheForexTradingCoach.com. And I’d love to be able to help you to turn your trading around for the rest of this year and beyond. Hope that helps. Bye for now. Episode Title: #590:What Every Struggling Trader Needs to Hear Today Find out How We Can Help You 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…

Online Forex Trading Course

1
#589: How Trading the Candle Close Can Improve Your Results 6:50

22 روز پیش6:50

6:50

How Trading the Candle Close Can Improve Your Results 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 Watch Prop Firm Masterclass #589: How Trading the Candle Close Can Improve Your Results In this video: 00:32 – When should you look at the charts? 01:05 – When we look for a new trade at The Forex Trading Coach. 02:21 – Only look for a trade at the close of a candle. 04:09 – Multiple time frame charts change over at the same time. 04:50 – Reduce the amount of chart time. 05:34 – Get onto my 17 minute masterclass or book a call with us. 05:58 – Blueberry Markets as a Forex Broker. 06:29 – Like, share and subscribe to receive notification of more trading videos. Did you know that if you only look at your charts at the close of a candle, it’s going to massively improve your trading performance and also massively reduce the amount of time that you spend looking at the charts. So let’s talk about that very important topic and more right now. Hey there, Traders! It’s Andrew Mitchem here, the owner of The Forex Trading Coach with video on podcast number 589. When should you look at the charts? So a lot of people struggle when it comes to knowing when they should be looking at their charts and what time of day that should be, what time frame charts to look at, what pairs, what markets, etc.. Is it the European session, the London session? You know, the Asian session, the US session. What is it? And they get very, very confused with all that happening. And they really don’t know when to look at charts. So as a result of that they tend to spend far too much time looking at the charts, waiting for this pip to move up and down, or that line to cross over that line or a dot to appear because it doesn’t work. When we look for a new trade at The Forex Trading Coach. So what can you do to simplify things? Well, very easy really, the way that we tried here at the Forex Trading Coach and the way that I’ve traded now for over 20 years is I only look for a potential new trade upon the close of a candle. So, you know when the candle closes, because the market opens each new day at 5 p.m. New York time. So if you were trading, let’s say, four hour charts, you know that at 5 p.m. New York time, the new day starts. So you know that four hours later from then, which will be 9 p.m. New York time, the four hour charts will change over. And therefore, you know, if you add four more hours to that becomes 1:00 Am, 5:00 Am, etc. How easy it is to know when the four hour charts change over. Now, obviously in a day this is one day the candle and you know when it changes. Obviously within the 24 hour time period there are two 12 hour charts. Guess what? There are 5 p.m. and 5 a.m. New York time. You know, there are three eight hour charts. There are four six hour charts. There are six four hour charts. Very, very easy to do this. . Only look for a trade at the close of a candle. And so if you look at the close of a candle, a number of things happen from a simplistic point of view. You know when to go and look at your charts. What does that do for you as a trader? Well, it gives you a little bit of time. You can look five minutes prior and you can scan through the charts, and you know that when they change over, if there are any suitable trade set ups, when they change over, the candle closes, nothing else moves. You can make your decision quite easily. It takes a lot of emotion out of trading because you’re not. They’re scared about moving, you know, missing every moving pip up and down. You’re not there watching this line cross over that line. And of course they keep moving. And so when the candle closes, nothing else around it, whatever indicator you’re using or horizontal level, nothing changes from that point onwards. So it makes it very easy to see. Has this bounced off this level? Has it closed below this round number? Has it bounced off a previous high of you selling all these type of things? Has it had a trend line break? All the different things you might look at on indicators even they’re set. They are not constantly moving. So not only do you know when to go and look at your charts, you can get a bit of a heads up for a few minutes prior. You can make your decision. It removes a lot of the emotion out of your trading because you’re not there, scared that things are changing, or I took this trade because this line crossed that one. And like a couple minutes later, they cross back again and it’s like, oh, well, that was a shame because when I took the trade, it was looking good. Now it’s not looking good. None of that will happen if you trade on the close of a completed candle. You know when to look. You know what to look for. You can look in advance. Everything set. It’s so much easier. Multiple time frame charts change over at the same time. The other thing is, of course, is that different time frame charts can change over at the same time. Give you an example if you are looking at the 5 p.m. New York close of day, the new day starts at that same time. The 12 hour charts change over as to the eight hour charts, as to the six hour to the four hour. When it comes to 12 hours later, it gets to 5 a.m. New York time. The 12 hours, of course, change over again, as do the six hours and the four and the three and the two. So you’ve got an one hour chart. So of course each hour you’ve got multiple options of trading, multiple time frame charts at that same time. Reduce the amount of chart time. And so when you think about that, you can massively narrow the amount of time, the short cut, the time that you are spending looking your charts. And you could trade once a day, twice a day and do very well looking at multiple charts, multiple timeframes, multiple markets, it makes life so much easier. You’re not sitting there panicking and that you’re going to miss a trade because, you know, this line’s crossed over that line. Forget that it does not work. Look for a close of candles to make the decision. Then if you want to add more to that, you can do. What we do is use limit order. So you’re taking away even more of a motion because you’ve got time, to place the trades. You don’t have to be there at the exact time that the chart changes over. Get onto my 17 minute masterclass or book a call with us. So if you’re interested to know how you can do this to trade full time in 30 minutes or less per day, what I suggest you should do is jump on my very short on demand masterclass or book a call. I’ll put a link to both of those, around this video on this page somewhere so you can book a call to have a chat with us so you can watch that masterclass to see how we do it and decide if this is right for you. Blueberry Markets as a Forex Broker. If you’re out there looking for a good broker to place your funds with and to trade through, I can highly recommend Blueberry Markets. They of course offer the MT4 and MT5 platform multiple time frame charts on MT5, all built in, a large array of markets. So you can be really selective on what trades you’re taking based on the highest probability setups. And that’s the beauty of trading through some of like Blueberry Markets. We got lots of choice in terms of time frames and lots of choice in terms of markets to trade. Like, share and subscribe to receive notification of more trading videos. So I hope that helps. And don’t forget to like and subscribe. We’ll share this around and any questions you have you’d like me to discuss on future videos and podcasts, just like this one. Send me an email personally to Andrew@TheForexTradingCoach.com. I see you this time next week for more trading tips and information. Bye for now. Episode Title: #589: How Trading the Candle Close Can Improve Your Results 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…

Online Forex Trading Course

1
#588: What You MUST Know Before Using AI in Forex 6:11

28 روز پیش6:11

6:11

What You MUST Know Before Using AI in Forex 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 Watch Prop Firm Masterclass #588: What You MUST Know Before Using AI in Forex In this video: 00:25 – Can you trade using only AI? 01:22 – You are brave to trust AI to trade your money. 02:02 – Are you too lazy to trade? 03:20 – The knowledge and ability to trade for yourself. 04:34 – Knowing how to trade first. 05:09 – Get onto my 17 minute masterclass. 05:28 – Blueberry Markets as a Forex Broker. 05:40 – Have a chat with us. 05:57 – Like, share and subscribe to receive notification of more trading videos. Can you trade using only AI? It’s a question I’ve been asked this week. I want to give you my opinion on that, so let’s get into that a more right now. Hey, this is Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 588. Can you trade using only AI? I received an email just this week from somebody saying I’d like to trade using only AI, and I’d like to pass a prop firm using AI trading system through only using AI. Can I do that? How do I do it? Well, you see, the obvious issue here is that is this person doing it because they want to save some time? Are they lazy? Do they not understand trading? Or maybe they do understand trading? You see, there’s a lot of variables out there when it comes to AI because of course it’s all around us and what we really like it or probably don’t like it, depending on your point of view. It’s here to stay. But from a trading point of view, both from a personal point of view, mentally, a trading point of view is AI all it’s cracked up to be, and can you use it purely as your only way of trading? You are brave to trust AI to trade your money. Well, first of all, I would say you’ve got to be pretty brave if you’re going to be allowing your own personal capital. Let’s say, to be traded purely by AI. You’ve got to be quite brave. Let’s say you know something about trading. Okay. So you’re going to create an AI system. How did you go about it? What are the rules and the obvious upsides of expert advisors or trading bots or AI whatever you want to call it is it takes emotion out of trading. That’s the obvious upside. You know, it works 24 hours a day. I get all that. You know, it’s there’s a lot of, obvious upsides to it. Are you too lazy to trade? But the problem is, is if you are doing it simply because you can’t be bothered or you’re lazy or you think you’re too busy to trade, well, do you have enough knowledge about trading to know what it is that you’re creating? How do you know what rules to create? How do you know when it’s working or when it’s not working? Sure, you can go, well, it’s making me money or it’s not okay, so let’s say it’s making you some money. What happens when it stops making you money? Is that the bot that suddenly or AI that suddenly changing? Or is that the conditions in the market? How do you know about testing this back? Testing it live for testing. If you don’t put time and effort into it, you see people I believe think that AI is going to be this magic shortcut to being lazy, not putting time, effort, or knowledge into it. I can see that the upside to AI is going to work for someone who is prepared to work hard, who does understand trading, who does know what they’re looking for, and it’s just using it as an aid to maybe place the trades for them and manage trades for them, or they’re looking for new ideas. Those type of people will probably do okay from AI. The person out there that just, thinks that can magically make them a multi-millionaire next week because they really can’t be bothered to learn how to trade. I don’t think you’re going to do well, and I don’t think it’s going to end well, or it’s the right way for you to go. The knowledge and ability to trade for yourself. You see the other point that as a manual trader, I think that’s so underestimated. It’s up here. It’s that ability for you as a person to have that knowledge, that reward that, that, ability to see something on a chart, to make a decision with your brain and your common sense and your information, your knowledge, your eye, and to be profitable and to be right, and the immense amount of satisfaction that you have, knowing that you can do this. You see, if you put all your eggs in the AI basket and it suddenly stops working, then what would you do? How would you know it stop working? Apart from losing you a lot of money. But how do you fix that if you don’t understand trading? So I think it’s really important that you have to understand trading. Have a background, knowledge, information, whether you then decide to actually place the trades manually or place the trades automatically or create your own bots, AI. I would strongly suggest that if you don’t know how to trade manually, by yourself, then you should do that first. Regardless of where your end goal or destination might be. Knowing how to trade first. So you have to know how to trade mentally. It’s massive to know that you can control your financial future by having that decision that influence on what you do when you do it, how much risk you’re taking, what trades you’re taking, what markets you’re trading, what time frames you’re trading, all those type of things massive when you can do it properly. Believe me, it’s just an amazing feeling. It’s a little bit like me learning to sing now or learning to play the guitar or when I was learning to fly, learning to, you know, to practice karate, all these things, they all are massively rewarding once you put the effort in upfront. Get onto my 17 minute masterclass. And so if you’d like to find out how we trade and how we can help you to trade and be successful as a trader, by the way, we trade noble in 30 minutes chat time a day, so you don’t have to be sitting there glue to your charts. Click on the link to watch. My short masterclass is on demand so you can watch it when it works for you. Blueberry Markets as a Forex Broker. If you’re out there looking for a top quality broker, I can highly recommend Blueberry Markets. I’ll put a link to Blueberry markets there as well. Multiple markets, multiple time frame charts on their MT5 platform especially. And if you’d like to book a call to have a chat with one of us to find out if we’re a good fit and if we can help you to become a good trader. Have a chat with us. I’ll put a link here so you can, book up a time to, to have a chat with us and to see if we can help you becoming a profitable trader. Like, share and subscribe to receive notification of more trading videos. So that’s it for this week. This is Andrew Mitchem here at The Forex Trading Coach. Don’t forget to like and subscribe or share this around if you’re watching. And I’ll see this time next week. Bye for now. Episode Title: #588: What You MUST Know Before Using AI in Forex 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…

Online Forex Trading Course

1
#587: How This One Forex Strategy Stood the Test of Time 8:39

۶ weeks پیش8:39

8:39

How This One Forex Strategy Stood the Test of Time Podcast: Click Here to Signup For Our 16th Birthday Sale 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 #587: How This One Forex Strategy Stood the Test of Time In this video: 00:32 – 16 years of coaching Forex traders from all around the World 01:18 – A proven trading strategy 01:55 – I won a global signal service competition 02:50 – How I started The Forex Trading Coach 04:30 – Clients in 108 Countries and a global trading team 05:56 – Register for our 16th birthday sale – click here https://theforextradingcoach.com/16th-birthday-sale/ 07:37 – Blueberry Markets as a Forex Broker 08:04 – Thank you for being part of the journey We turned 16 years old here at The Forex Trading Coach this week. It’s something we’re immensely proud of, and I like to share our journey with you and to see how we can help you to become a successful forex trader. Let’s get into that a more right now. Like. Hey there, Traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 587. 16 years of coaching Forex traders from all around the World So that’s right we turned 16 years old this week here at the Forex Trading Coach. Something that we are immensely proud of. And it’s a huge achievement when you consider the overall opinion of the forex market. And when I look back to when I started coaching back in 2009, and you look to see who’s still out there today, helping people, either coaching or brokers, whatever it is related to the forex market, who are actively working today and we’re active back then, there’s not many of us out there. So our longevity and what we do, our credibility, I think, just absolute testament to the hard work that goes into doing what we’re doing. A proven trading strategy And also the quality of the trading strategy to have, you know, something that back then was working really well. And let’s continue to and today and 2025 continues to work just as well on even more time frames and even more markets that we now have available to trade for us. So it’s it’s absolutely, brilliant that the strategy work, it works so well and has helped so many thousands of people from right around the world over those last 16 years. In fact, we have clients in 108 countries. I won a global signal service competition Now, jump back a few years prior to that, back in about 2006, 2007, I entered a signal service competition where they tracked, people, selling signals for about six months or a year. I think it was. And my strategy won. So out of hundreds if not thousands of people selling signals or sending signals to this company back then, I won and it was a great achievement. I was very proud of doing that. And that then led on to The Forex Trading Coach starting almost by accident. I was contacted by a number of people who were buying my signals and they said, look, I see you’ve won this competition. It’s great that we’re making money from the signals that you’re emailing us once a day, but I’d really like to know how to do this for myself. And that was the general overall kind of, you know, feedback that I was getting from people. How I started The Forex Trading Coach So I jumped on the plane back 16 years ago, flew across to Noosa in Australia. Gorgeous place. Stayed with a family there for about 4 or 5 nights, and I taught the guy how I trade my strategy, and it was really good and fascinating to get that information across to someone sitting side by side with them. Now to this day, I’m not going to mention the guy’s name. He is on my website, but to this day he still trades and he trades because he’s a very busy person and owns a chain of restaurants and he’s a professional chef. He still trades longer time frame charts, weekly monthly charts. To this day, using my strategy. And that’s something I’m immensely proud of as well because, you know, it’s proven to have worked so well for people that they continue to be successful after all these years. And what happened then is when I got back, from Noosa in Australia, I then, contacted some of those other people who had messaged me and said, look, I’ve just put together the course, it’s been really successful. The guy’s happy with it. Would you like me to come and teach you? So I then did a bit of a round the world trip, and I flew across from New Zealand here to Malaysia, then to Sri Lanka, spent about 4 or 5 days there. Absolutely loved it. And then went up to Spain, France, the UK and then flew back home. And so that was the, the beginning of The Forex Trading Coach by helping these individual people who were prepared to have me fly around the world and to teach them individually, sitting beside them how I trade and how they can trade the same way. So that was the beginning. Clients in 108 Countries and a global trading team And of course, over the last 16 years, things have evolved in the internet. It’s got better and membership sites, and it’s just meant that we can offer what we do to so many more people at such a low price, and the quality and everything that we offer has got more and more, and with technology, the price that’s been able to come lower and lower. So it’s actually a win-win for everybody. We’re helping more and more people. And over those, you know, that time more people have helped me and come on board. And we’ve got Paul over in the US who helps, teach people in the US and Canada. And on that time zone, we’ve got Mikalai in the UK who helps with European time zone. We’ve got Ryo over in Singapore and we’ve got Mhel in the Philippines now. Paul and Ryo and Mikalai all have been successful and are successful. All, clients of the course who have then done so well that I’ve offered them roles within the company to help teach other people and to help monitor the forum site and to take webinars, etc. because we’re now, you know, not just New Zealand based, we’re a global company and we it doesn’t matter where I live or where you live, we cater for people right around the world. And that’s the, the beauty of technology. And the amazing thing with the community of traders that we have built from right around the world, all trading the same one strategy. So, where this leads from today onwards for you. Register for our 16th birthday sale – click here https://theforextradingcoach.com/16th-birthday-sale/ If you’re new to trading, this is a great opportunity to learn the right way. First time, if you’ve been trading for some time and it’s just not working, and you’re pulling your hair and you’re frustrated and you think, oh, of giving up or just give it one more, go have a look at the course because as mentioned, has got so much proof and longevity behind it. That you really should, do justice to yourself if you’ve been trading and struggling for a while to give it a go, because, you know, this is a great opportunity to finally, put all that time and effort, money that you’ve put into learning, probably unlearn most of that. I think most of it’s probably not good. And learn the way that we trade properly. So you can take your trading forward. Now, if you are out there looking at coming on board with this, this is going to be the perfect opportunity for you. This week because on Wednesday, the 7th of May could be Tuesday the sixth. If you live in Europe or the US. Start time, we’re holding our 16th birthday sale. There’s a link here. I really encourage you to click on that link, have a look through the page and register your interest. And when that thank you page, then counts down on the on the count time countdown time to zero. The live page will then appear. Now the sale is going to give you the opportunity to join us at the lowest price. It’s ever been in 16 years. And the price will be going up hour by hour. So make sure you find the start time in your local start time and your local time zone. I should say find the start time in the time that where you live, making sure you have that right. Jump in, set your alarm if you need to, but getting near the beginning because that first hour the price is going to be the lowest ever. Blueberry Markets as a Forex Broker And finally, if you’re out there looking for a top quality, very high quality broker who we’ve done a lot of work with here at the Forex Trading Coach over the years, it’s Blueberry Markets, I can highly recommend them. They are absolutely fantastic, a great broker to deal with, great people. Great platform, great prices, great markets that they offer. I’ll put a link here to Blueberry Markets as well. They’re considering a top quality broker. Thank you for being part of the journey So once again thank you for being part of the journey. Whether you’ve been watching videos like this or listening to podcasts, whether you’ve been on free webinars, downloaded my calculator, e-book, whatever it might be, if you’re actually a client already, thank you for being part of the team and the community. And if you are looking at joining us, joining us, click on the link to find out about this week’s sale. Because there’s going to be no better time to take your trading forward to that next level. This is Andrew Mitchem here at The Forex Training Coach. Looking forward to 16 more years. I’ll see you soon. Bye for now. Episode Title: #587: How This One Forex Strategy Stood the Test of Time Click Here to Signup For Our 16th Birthday Sale 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…

Online Forex Trading Course

1
#586: How to Trade Monthly Charts for Massive Reward:Risk Trades 7:36

۷ weeks پیش7:36

7:36

How to Trade Monthly Charts for Massive Reward:Risk Trades Podcast: Click Here to Signup For Our 16th Birthday Sale 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 #586: How to Trade Monthly Charts for Massive Reward:Risk Trades In this video: 00:25 – I’m too busy – how can I trade? 01:24 – How long does a Monthly trade remain in the market? 02:02 – When to trade Monthly charts? 03:40 – 1to 5 trades show on most months. 05:00 – Register for our 16th birthday sale – click here https://theforextradingcoach.com/16th-birthday-sale/ 06:41 – Blueberry Markets as a Forex Broker. 07:25 – Like, share and subscribe to receive notification of more trading videos. Do you want to know how you can successfully trade just once a month off the monthly charts? Let’s talk about that and more right now. Hey, traders! It’s Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 586. I’m too busy – how can I trade? So I get questions from people that say, look, I’m not interested in trading, you know, all the time staring at charts all the time. What can I do? Well, for me, and it’s there for start to consider the higher time frame charts. And the best example of that where you only need to look at your charts just once a month, will be trading off the monthly charts. Now, the beauty of the monthly charts is they contain so much information because obviously each chart, each candle contains one month’s worth of information of price action. And the other great thing about that, because there’s so much information that they tend to be one of the most reliable chart setups. And you have to be aware that because they are monthly charts, you will find that trades will take potentially slightly longer to work out. But just think of it as a candle or a bar. How long does a Monthly trade remain in the market? In other words, if you were trading on, let’s say, a four hour chart, you might expect they trade to last in the market maybe one, two, three, four bars. And therefore when you’re trading on a monthly chart, it’s no different. So you have to be willing to leave trades in and let the market and the price action do its thing. But the great thing about trading monthly charts is all you need to do is look at your charts just once a month, and that’s on the last day or the completed day of the month. So, for example, for this month, we have, the 1st of May coming up on Thursday of this week. When to trade Monthly charts? So on Thursday, the 1st of May, the Wednesday candle, which is the 30th of April, would have close. And therefore we can then when all those, candles close at, 5 p.m., New York time, when the candle is closed, the next month will open, which is the 1st of May. And at that point, we can go and make our analysis on all of the closed and completed April charts. So we can go through the charts and scan through all the different markets. I scan personally through all the forex markets, the metals, the commodities, the indices, the cryptos. And I scan through all of them and it takes like ten minutes tops, to go through them all on the monthly charts and just to scan through, look at what setting up what has room to move for, potential for a new buy trade or a new sell trade for that month. Now, because the, price action within a monthly chart is so much bigger, the way that I trade it just means that we get massive reward tourists. And depending on the actual trade itself, we’ll get reward to risk some about 3 to 1 minimum through to about 6, 7, sometimes 8 to 1 reward to risk off those monthly charts. Now, the issue is that some people will look at a monthly chart and they go, oh, I can’t trade it because the stoploss is too big. That’s not actually the case. What you have to do is reduce your lot size, and you can, in most cases, depending on your account size. Of course, trade very accurately with, accurate risk and position sizing on those bigger time frame charts. And so depending on the month, yeah, I’ll get some months. There’ll be 1 or 2 trades on the monthly chart. Sometimes there’ll be 5 or 6 trades. It just depends on what’s happening at the time. But the monthly charts are just a great way to have some trades running in the background. You see them once a month. You put the trades on just once a month and let them, you know, do their own thing. Now, the way that I personally trade is I split my positions up into two, positions. I take one part of my risk at the market order, and so I want to jump straight in at the market, because the danger is if, let’s say the market’s moving up and you get a good strong candle close in April. In May, may just continue straight up. And so I take a part of my position at the market order, but I also take another part of my position at a buy limit order. So that means if the price retraces first or at some stage within that month, it then fills me at a buy limit order, which is a lot lower than when the candle opens. So I’m looking for, first of all, the price to retrace. Come lower, get my buy order filled, and then move up into the anticipated direction. When you see that happen, your reward to risk becomes really large on those particular type of trades. Register for our 16th birthday sale – click here https://theforextradingcoach.com/16th-birthday-sale/ So if you’d like to find out how you can trade just once a month, or on weekly charts once a week, or on daily charts just once a day, and you’d like to know how to take your trading to the next level with low risk per trade. Doesn’t matter what the stoploss is, or the market or the size of the candle, it’s completely irrelevant the way that we trade is identical across all time frame charts of what we’re looking for in terms of candle patterns, so it’s just one trading strategy that makes it very easy to scan through your charts. So on your monthly charts, as mentioned, once a week, put the trades on, leave them alone. If you’d like to find out how to do this, your timing is absolutely perfect. Because, next week, on Wednesday the 7th of May, we are turning 16 years old here at the Forex Trading Coach. And to celebrate that, I’m offering a massive discount on our five star rated coaching course that’s been running for now, 16 years. And it’s going to be offered to you, at the lowest price it’s ever been in those 16 years. So if you’re serious about trading and taking your trading to the next level register, I’ll put a link here so you can find out how to register for that sale and make sure that you are on my site next week, Wednesday the 7th of May. That may be Tuesday the 6th of May, depending on where you live, especially if you’re in the UK, Europe, US, Canada, etc. and it’s going to be a 24 hour time sale, but it’s going to go up, by $53 every, every hour. So the first hour of the price is going to be the lowest ever in 16 years. And then each hour it’s going to go up and up. So make sure that you register, find that specific details about when it starts and how you can take advantage of that and learn how to trade properly. If you’re out there looking for a really, really good broker, high quality broker that you can trade monthly charts and all other time frame charts across multiple markets. Blueberry Markets as a Forex Broker. And by the way, they just keep adding more and more markets all the time. I highly recommend you take a look at Blueberry Markets they are a fantastic bunch of people. Great. Great. You know, service, the customer service you cannot speak highly enough of. It’s absolutely exceptional. Great broker. Really good. You know, platform in terms of Metatrader 5/4, but a massive array of markets across different time frame charts. Check out Blueberry Markets. I’ll put a link to them here as well. And don’t forget to check out our 16th Birthday Sale which just next week. I’ll put a link to that so you can register for that. Like, share and subscribe to receive notification of more trading videos. If you’re watching, don’t forget to like and subscribe or share the video if you’re listening. I hope you’ve enjoyed the session and I will see you this time next week. Bye for now. Episode Title: #586: How to Trade Monthly Charts for Massive Reward:Risk Trades Click Here to Signup For Our 16th Birthday Sale 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…

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1
#585: How to Trade Market Crashes Caused by Tariff News 5:00

۹ weeks پیش5:00

5:00

How to Trade Market Crashes Caused by Tariff News 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 Watch Prop Firm Masterclass #585: How to Trade Market Crashes Caused by Tariff News In this video: 00:30 – Tariffs in the news. 00:55 – Technical trading allows us to trade long and short. 02:10 – Market rises earlier this year and then falls. 03:18 – Watch the charts and remove emotion. 03:59 – 20 minutes Masterclass and book a call with us. 04:28 – Blueberry Markets as a Forex Broker. You’ve probably heard over the last couple of weeks that tariffs have been in the news. Let’s talk about tariffs and trading and how as a trader we can bypass that news and profit whether the market’s moving up or down. Let’s talk about that a more right now. Hey there, Traders! This is Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 585. Tariffs in the news. So unless you’ve been living under a rock, you probably have heard about tariffs in the news over the last few weeks and how the markets have been all over the place. And, you know, there’s a lot of, people grumpy about what’s happening, and the mainstream media are doing their best to stir it up because, you know, of who’s doing it. Just typical mainstream media. Technical trading allows us to trade long and short. The great thing is, though, as a trader, as a technical trader, where the market’s moving up and down and whether it’s tariffs or somebody is saying something or something’s happening, it doesn’t really matter. You see, the press have been winding up the moves that Trump’s, had a result of because of his tariff speech, as market crashes. And that’s just, again, mainstream media trying to make big news out of something. And trying to discredit someone, whereas what’s actually happening is all that’s happened. Yes, the market, moves so big and yes, they fell away. But as a technical trader, I can look at my charts on most of the like the Dow Jones and the S&P 500 and the and the UK Footsie in different markets like that around the world. And see that all that’s happened is the prices come down to a technical level of where the markets were towards the end of last year, towards the end of 2024. So from a technical trader’s point of view, there’s nothing extravagant that has happened. Although you wouldn’t, believe that from watching mainstream media news. Market rises earlier this year and then falls. And the prices has gone up through, you know, December, January, February, March. And it’s just come back. Yes. It’s happened quickly. Yes. It was a big move, but it’s just come back to support technical levels. And now the price is moving back up as I’m recording this right now. The interesting thing is that yet again, mainstream media, nobody talks about the benefits of, oil prices dropping, you know. Yeah, that’s crashed. But again, they tended for some reason, wonder why I keep very quiet on those sort of things. So they’re very selective and what they want you to listen and believe. But as a trader, the advantage is if the market’s moving down well, there’s just opportunities for us to take sell trades on some of those markets. And now that the market started to move back up again there’s opportunities. Guess what. For us to take buy trades on those markets. So again you got to be very careful. The vast majority of people unfortunately don’t understand that the vast majority of people believe what the mainstream media say, and it’s all doom and gloom. Whereas in reality, if you know what you’re doing, it’s not at all. Watch the charts and remove emotion. So as a trader, as someone that looks at the charts and doesn’t get emotional about trading on who’s saying what and how it happened and what happened. You can learn to profit from moves in either direction. Really important that there’s a trader. You’re looking at the charts and you’re you’re looking at what’s actually happening, not what, you know, certain media outlets are making you believe. So it’s just shows the difference between people who are actually trading and people who just believe everything that, you know, is in the newspaper. So it’s very it’s really quite not, not, not a big deal at all. And it opens up lots of great opportunities for us. 20 minutes Masterclass and book a call with us. If you’d like to know how we do this, I suggest that you jump on one of my masterclasses. They’re free, but, 20 minute long masterclass on demand. You choose when you jump on. Just spend 20 minutes, have a look at, how we trade forex markets, but other markets as well. Cryptos, indices, metals, commodities, etc. like that in exactly the same way. If you’d like to book a call, have a chat with us then, please do so I’ll put the link so you can book, call and, chat to myself, one of the team. Blueberry Markets as a Forex Broker. And if you’re out there looking for a top quality forex broker who offers other markets like the indices that you can trade Footsie, Nasdaq, S&P, etc., Dow Jones, all those markets. I will put a link to Blueberry Markets their MT5 platform offers all those markets and many more, for you to be able to trade and to take advantage of these market movements. There won’t be a weekly video and podcast next week due to, the Easter break. So I’ll be back the week after that. I’ll talk to you then. Bye for now. Episode Title: #585: How to Trade Bigger Time Frames with a Small Account 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…

Online Forex Trading Course

1
#584: How to Trade Bigger Time Frames with a Small Account 7:03

10 weeks پیش7:03

7:03

How to Trade Bigger Time Frames with a Small Account Podcast: Click Here to Download my Lot Size Calculator 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 #584: How to Trade Bigger Time Frames with a Small Account In this video: 00:34 – Do you have a small trading account? 01:17 – Understanding risk and your lot size correctly. 03:58 – Profit targets are all relative to the movement in the market. 05:34 – Use my free MT4/MT5 Lot Size Calculator Script. 05:45 – 17 minutes Masterclass and Book a Call. 06:02 – Blueberry Markets as a Forex Broker. 06:45 – Comments, Like & Subscribe. Do you often find that with the small trading account, you have difficulty placing trades on charts like daily or weekly or monthly charts that need a bigger stop loss size, and therefore we cannot take the trades. If that’s you. Listen up, I’ve got some great tips and information to share with you. Let’s get into it right now. Hey there, Traders! Andrew here, the Forex Trading Coach with video and podcast number 584. Do you have a small trading account? So I want to talk about people with small trading accounts because a lot of the times I hear people say to me, look, I can’t take those longer time frame charts. I can’t take trades on a daily chart or weekly chart. So monthly charts, because I don’t have a big enough account size to allow for a big stop loss. And unfortunately, it’s a bit of a common misconception that people think they cannot trade on those higher time frame charts, which, by the way, are quite often some of the better trades to take because of the quality of the trades. And the people think they cannot trade them because they require too big a stop loss, and their account is not big enough to allow for that. Understanding risk and your lot size correctly. So the issue actually comes down to understanding risk and understanding how to calculate your stop loss correctly. Because most people don’t do that. A lot of people say, I’m just going to put on 0.1 lots or 1.0 lots or 0.5, whatever it might be. They just put the same lot size on every trade. And if you do that, the problem is, is either, you know, one that when it gets stopped out the, stop loss amount, it’s going to be way too much. And so therefore it could argue lots of smaller gains. And that again comes down to not understanding how to calculate your losses correctly. Now to help you out I’m going to put a link here which you’ll find to my free lot size calculator. You can download my MT4 or MT5 lot size calculator. It’s a script. Put it on your charts and you’ll use it all the time and it will massively help you. But the issue becomes, let’s say, you have a monthly chart trade. It requires looking to make up some numbers at 200 pips, stop loss and someone goes, oh, I can’t take it because my account is not big enough. You probably can. You know, you might end up needing, let’s say, a 0.01 lot size, but you can still take the trade. And the reason it needs to be a bigger stop loss is because it’s all relative to the candle size in the market movement at the time. Now you take that down to a, let’s say, a one hour chart trade, where obviously the movement is a lot smaller and the stop loss needs to be a lot tighter. It might again, for ease of numbers, let’s say it has a ten pips. Sorry, at 20 pips. Stop loss. The monthly chart has 200 pips. Stop loss. The, our chart has a 20 pips. Stop loss. All it means is on your one hour chart, you could probably going to be trading with ten times the, the lot size. The risk is still the same. So you’re not trading at ten times the risk. The risk in terms of the percentage of your account remains the same. It’s just the lot size might be 0.1. Lots on your one hour chart, whereas on your monthly chart it might be 0.01 lots. It says this a ten times, increase in the size of the position because the stop loss again, assuming it’s the same pair and your account size remains much the same. A lot of assumptions. But just to give you a generalization, you stop loss becomes, you know, ten times smaller. Therefore your, your lot size becomes ten times bigger. The risk is still the same. And that’s how you can trade, according to any time frame chart and any stop loss size. So use my lot size calculator. It will massively help you because if you’re not taking trades on longer timeframe charts and you think it’s due to your small account size, you’re really missing out on really good opportunities. Profit targets are all relative to the movement in the market. Now, when it comes to profits on those trades, again, we trade according to candle size. The market movement at the time, and it’s all relative. So again, to use some very basic numbers, let’s say on your monthly chart trade your profit target it was 600 pips. And that’s three times 200, obviously. It’s not 600 pips just because it’s three times. I’m giving you some basic numbers here, but let’s say on your one hour chart, it was a 60 pip profit target with a 20 pip stop loss. You see how the both trades have the same risk in terms of percentage, and both have the same reward to risk. They both have a 3 to 1 reward. The risk. Now for a 60 pip movement on a one hour chart, with 20 pips stop loss, that’s giving you plenty of room to move. Likewise, on a monthly chart where you’re going to need even more room to move, but you’re going to get bigger movements up and, you know, against you and in your direction, your 600 pips stop for you. 200 pips. Stop. Sorry. A 600 pip profit for your 200 pip stop is still a 3 to 1 reward to risk trade. So you see how it’s all relative. And let’s say one trade works and the other doesn’t. It doesn’t matter which way round it is, the trade that loses is going to lose, let’s say 1% on your account and the other one that makes is going to make a 3% account gain, net 2%, even though you’ve won one of the trades and lost one of the trades. So it’s really important that you understand risk to reward and it also is important to allow you to take trades on these bigger time frame charts with the bigger stop losses, that you understand your lot size calculation correctly, so that every trade has low, equal, controlled and known risk. Use my free MT4/MT5 Lot Size Calculator Script. So as mentioned, there will be a link here somewhere that you can find my to download my MT4 or MT5 lot size calculator script. It’s really important to do that. 17 minutes Masterclass and Book a Call. So if you’d like to find out more about how we trade and how we can help you, click on the link here that you’ll find for my 17 minute On Demand masterclass. If you like a book, a call to have a chat with one of us about how we trade and how we can help you, I’ll put a link to that as well. And if you’re out there looking for a very, very good broker, who offer the MT4 and the MT5 platform with a massive array of different markets, especially on MT5 and of course, more built in time frame charts on MT5. Great bunch of people. Very great, you know, excellent spreads, great customer service. Accounts in multiple currencies and denominations. Blueberry Markets as a Forex Broker. Click on the link here to find out more about, Blueberry Markets. I’ve been with them for a long, long time, as have thousands of people. I’ve sent to them. And the feedback is always the same. Always so good about how good they are to trade with and how good they are to deal with as well. So have a look at Blueberry Markets if you’re out there looking for a good broker. Comments, Like & Subscribe. So this is Andrew Mitchem, The Forex Trading Coach. Don’t forget to like and subscribe if you’re watching on social media or YouTube or share the video around or the podcast around any questions you have, please email me and I will personally answer them. Andrew@TheForexTradingCoach.com see this time next week. Bye for now. Episode Title: #584: How to Trade Bigger Time Frames with a Small Account 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…

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#583: Why Most Traders Fail Prop Firm Challenges and How to Succeed 7:00

11 weeks پیش7:00

7:00

Why Most Traders Fail Prop Firm Challenges and How to Succeed Podcast: Click Here to Register My Upcoming Webinar – “Prop Firm Mastery: How To Get – And STAY – Funded… So You Can Transform Your Income In Just 30 Minutes A Day” 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 #583: Why Most Traders Fail Prop Firm Challenges and How to Succeed In this video: 00:26 – Advantages and disadvantages of trading on a prop firm. 01:05 – People jump in too soon and then fail. 02:02 – Prop firm challenge example. 03:44 – Large gains for a small investment. 04:25 – Use a VPS and copier software. 05:24 – A free and LIVE webinar for passing a prop firm challenge. 06:16 – 17 minutes Masterclass and book a call with us. 06:27 – Blueberry Markets as a Forex Broker. So you want to know how to pass a prop foam challenge and to make money by making commissions via prop firm. Let’s talk about that a more right now. Hey there, traders! Andrew Mitchem here at the Forex Trading Coach with video on podcast number 583. Advantages and disadvantages of trading on a prop firm. Today is about passing prop firm challenges, the pitfalls and the advantages of trading via a prop firm. Now, if you don’t know, all approximates, go and have a look online. If you do know what one is. Then you’ll know that they’re not always as easy to pass as you might think. They look really good, and for a lot of people, they look to be a fantastic way of making some very, very good, substantial profits from trading. But with that, needing your own funds and that is the obvious advantage of them. But there are a number of things you have to be careful of. People jump in too soon and then fail. One of the most common issues that I see is that people jump into a prop firm way too soon. They should don’t know how to trade, and they just think they’re going to pay $500 to get $100,000 account. Pass a few demo challenges onto real money, make a fortune. The reality is that for most people, that’s not going to happen. And it comes back to, as I’ve mentioned, that they jump too soon. So for me, it’s really important that you look at a prop firm maybe as something maybe like 6 to 12 months from now. So it’s a profitable first, get yourself profitable and have confidence in strategy and understand it on a demo account. Then a small live account and then maybe a larger live account. And at that point, with consistency and with the meeting, the rules of a prop firm. You can then go and successfully pass the challenge. Now this printed out some, a prop firm challenge here. This happens to be from, blueberry funded. And they have one and two step processes. I actually really like the two stage process. The two step process. I’ll tell you what, because you have to prove yourself twice on a demo account before you go to live money. And what I like about it is because you have to prove yourself twice, and you will probably take a little bit longer to pass the demo, challenge or challenges. Prop firm challenge example. As a result of that, you get given a larger drawdown amount. And to me, probably the most, well, the biggest reason why people don’t pass prop firm challenges is because they get stopped at and they reached the drawdown criteria, and that means that they’re risking too much and they’re having too many losing trades, etc.. What I like with this idea is that you need to make a, a 10% gain, but also they allow you up to a 10% drawdown. So there’s a lot more flexible in there. And so by going through a two stage process, having that bigger drawdown, ability, when you get on to the real account, things become a lot easier. You think about it, if you have the ability to have, let’s say, a 10% drawdown as opposed to maybe a 5 or 6% drawdown when it comes to real trading and real money. It just gives you a lot more flexibility. So don’t just pick like the quickest solution or the cheapest solution. Pick one that’s going to suit you. And don’t be in a race to pass the demo challenge to get on to real money. Large gains for a small investment. When it comes to real money, if you think about things just in very basic terms, let’s say cost $500 to have a $100,000 account and you pass the demo challenges and then on the real money of 100,000, you have to get to, let’s say, 10%, and obviously it’s $10,000 or an 80/20 profit share means that you potentially could be on a an $8,000 profit every time you reach the, the next stage of their criteria. So if your $500 investment sure might take you a little bit longer to get to the real money. But then when you’re off and rolling with that bigger drawdown criteria, you’re making some good amounts. Use a VPS and copier software. Don’t forget also, you don’t have to stick to one challenge or one broker or, you know, one prop firm. You can have multiple going. And what you could do and what I suggest you consider, if that’s the case, is you use a virtual server and a bit of copy service, to copy between accounts. So you just focus on your one, personal smaller account, knowing that the trades are being copied behind the scenes automatically according to the size of the account that you traded, and everything becomes automated. It’s far easier for you to trade and focus on your one account. Let’s say $10,000 person live account. Knowing that the trades have been copied, then calculating your entry in your exit and your risk. Lot size, etc. on multiple accounts of various sizes. So focus on your one account, knowing that behind the scenes that get copied automatically for you. A free and LIVE webinar for passing a prop firm challenge. If you’d like to know more about how we can help you to pass a prop firm challenge, this, Thursday morning, my time, New Zealand time at 8:00 in the morning. I’m holding a free webinar, live webinar for the public who are interested in passing prop firm challenges. So if you’re in Europe/US, that’s going to be on your Wednesday afternoon, evening time, depending on where you live. I’m going to put a link here. It’s this week. It’s the for me it’s the 3rd of April. Thursday 3rd of April. So it’s going to be your Wednesday afternoon and evening or early hours of Thursday, depending on where you live in the world. Register so you can find out how we can help you to pass a prop firm challenge successfully, and to really elevate your trading and take it to another level and to gain substantial returns from your trading. 17 minutes Masterclass and book a call with us. It all comes back to knowing how to trade that. So make sure you jump onto that webinar. Or if you’ve not been on to my, 17 minute on Demand masterclass, have a look at that. I’ll put a link to that as well. If you’d like to jump on a call and have a chat with us to see how we can help you with your trading. I’ll put a link to that. Blueberry Markets as a Forex Broker. And if you’re out there looking for a really good forex broker, I can highly recommend Blueberry Markets. As mentioned, they also have Blueberry Funded, which is their prop firm. As well. But Blueberry Markets as a broker, fantastic brokerage. Lots and lots of different markets both Forex and Non-Forex, especially on the MT5 platform. I’ll put a link to them as well. If you need any help with anything trading related send me an email Andrew@TheForexTradingCoach.com. Be glad to help. Bye for now. Episode Title: #583: Why Most Traders Fail Prop Firm Challenges and How to Succeed 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…

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#582: How to Avoid Useless Forex Indicators 5:53

12 weeks پیش5:53

5:53

How to Avoid Useless Forex Indicators 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 Watch Prop Firm Masterclass #582: How to Avoid Useless Forex Indicators In this video: 00:24 – What trading Indicators should you use? 01:31 – Most Indicators don’t work. 01:52 – You must look at the price. 02:23 – Horizontal levels and Candles are good indicators. 04:50 – Blueberry Markets as a Forex Broker offering a 50% credit bonus. 05:19 – Book a Call and speak with us. 05:35 - 17 minutes Masterclass. What is the best trading indicator that you can use on your charts as a trader? Let's talk about that more right now. Hi there, Traders! It's Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 582. What trading Indicators should you use? Today I want to talk and discuss indicators. As a trader, if you open any charting package, whether it's MetaTrader like I've got the Me here or Trading view, whatever it is that you use, you will find that trading package, that charting package absolutely full of various indicators. They can be dots and lines and arrows and triangles and all sorts of different things on your charts. And I'll tell you what, they look amazing, don't they? They look so good, especially if you're a new trader and everybody falls for it. I know I did this like 20 years ago. I had this moving average crossing over that one and a swing low here and a MACD there, and I looked absolutely beautiful, and I knew that I was going to become a multi-millionaire in no time at all, because as soon as this line crossed that line there, and this dot showed there and below it and all those things, it was going to be a brilliant, simple, easy trade. Said reality is, none of that is true. That is the truth. Most Indicators don’t work. The reality is that almost all indicators that you see on a standard charting package, they lag time, they tell you what's already happened, they can't help you, most of them with what's likely to happen or any sensible trading decisions. Sure, there are some that can be used as a bit of an age once you know what you're doing. You must look at the price. But in general, most people get completely caught up because they don't look at the obvious thing. And that's the right hand side of the chart, and they do not look at the price. If you don't look at the price and you rely on dots and arrows and lines, etc., you're going to get spaghetti on your charts and you're not seeing what's really happening. You're not seeing the true psychology behind what's happening. What's really happening are the buyers are the sellers. Has it bounced at that level before all those type of things? You're completely ignoring because you're failing to look at the price? Horizontal levels and Candles are good indicators. I much prefer a number of indicators. Horizontal levels are absolutely fantastic. Why? Because they never move. A horizontal level that you see is the same as what I see at the same time. You know, again, the price, whether it be the daily pivot point, support and resistance level, swing high swing lows, those things never change. And so by having those on your chart, it's giving you something that's an absolute that's actually happened. If the price pulls back to a round number and that happens to be a previous swing low and it bounces at that level, well, quite likely, then you're going to get that support level holding and the price is likely to move up. So then I add another, indicator of a sort and that's candle, patterns and understanding candles themselves. What they're telling me are they exhaustion candles. Are they indecision candles. Are they confirmation of a change in direction? Are they confirmation of a continuation pattern or a reversal pattern?…

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#581: How to Choose the Best Forex Pairs for Trading 5:27

13 weeks پیش5:27

5:27

How to Choose the Best Forex Pairs for Trading 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 Watch Prop Firm Masterclass #581: How to Choose the Best Forex Pairs for Trading In this video: 00:22 – Forex pairs – what to choose? 01:37 – The best pair to trade is …….. 02:00 – Assessing Strength and Weakness. 03:13 – Fine tuning to pick the best setup available. 04:25 - 17 minutes Masterclass. 04:33 – Blueberry Markets as a Forex Broker offering a 50% credit bonus. 05:05 – Book a Call and speak with us. As a forex trader, what are the best forex pairs that you can look at trading? Let's talk about that a more. Right now. Hey traders, Andrew here at The Forex Trading Coach with video and podcast number 581. Forex pairs – what to choose? What to talk about forex pairs as a trader you have a lot of pairs available and a lot of people, especially when they start. I get very confused with the different currency pairs. You standard main pairs you get you exotics, you get your minors, and more and more pairs now are available to us as traders. So really the question is what is the best pair to trade? Well, a lot of people think you need to trade just the euro US dollar or just the US yen because their spreads are tight. And in the case of the EUR/USD, it tends to have the most movement or not some movement, but the most volume traded on it, per day in general. And then other people look at pairs like the GBP/JPY because it moves a lot and they think they need to trade that. And then people look at pairs like the EUR/CHF, which doesn't move a lot, and they think they can't trade it. So that becomes a lot of confusion out there. Do you need, like the most liquid pair, the tighter spread. Do you need one that moves a lot? Do you need one that doesn't move at all? The best pair to trade is …….. And so my answer is it depends. And I know I say that to a few things because it's true. I don't just trade the NZD/USD or against the JPY because I live in New Zealand. You shouldn't do that either. You shouldn't have an emotional tie to a currency pair. What you should do is look through all the currency pairs. And the reason I say that there's a few reasons. Assessing Strength and Weakness. Number one, you can assess strength and weakness very well. If you do that. As an example, rather than just looking at the EUR/USD, why don't you look at also the EUR/JPY, the EUR/GBP, the EUR/AUD, EUR/NZD, EUR/CAD and make a full assessment. So if for example you can do that and you see let's say all of those pairs were moving up, that's going to give you a fairly good indication that the Euro is very, very strong. But if you didn't do that and you looked at just the EUR/USD and is moving up, you don't know whether the strength in the Euro or whether that movement of the EUR/USD heading up is, is just because the US is extremely weak right now. So you might be taking a by trade on the EUR/USD thinking the strength in the Euro, whereas it may just be the US weakness that's pushing it up. And the Euro against other pairs may actually be dropping. So you're not doing yourself any favors there. So to assess multiple currency pairs is going to be your best option. Fine tuning to pick the best setup available. The other thing that gives you is let's say you see really good buy trades on the EUR/USD, the EUR/CAD, the EUR/AUD, the EUR/NZD, the EUR/CHF. Let's say they're all showing some fairly good setups at the same time. And by the way, I only trade on the close of a candle. Let's say you see that what you really then should do is fine tune those setups and maybe pick 1 or 2 of the very best ones setups that give you a high probability chance of a success for trade setups that have round numbers in their favor. On a buy trade that doesn't need to break a previous swing hig...…

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#580: What’s More Important: Win Rate or Risk-Reward? 6:24

14 weeks پیش6:24

6:24

What’s More Important: Win Rate or Risk-Reward? 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 Watch Prop Firm Masterclass #580: What’s More Important: Win Rate or Risk-Reward? In this video: 00:23 – What should your win rate be? 01:03 – Controlling your emotions. 01:23 – An example of a 90% winning system trader. 03:01 – A high reward:risk is more important. 04:47 – Summary of what’s important to be a profitable trader. 05:24 - 17 minutes Masterclass and Book a Call. 05:47 – Blueberry Markets as a Forex Broker. 06:03 – Comments, Like & Subscribe. What percentage win rate do you need to be a successful and profitable trader? Let's get into that and more right now. Hey there, Trades! Andrew Mitchem here at The Forex Trading Coach. Video on podcast number 580. What should your win rate be? Want talk all about a winning percentage level rate. What should it be? and what do you need that to be in order to be a profitable trader. Now the answer is quite interesting. And it may not be quite what you're expecting me to say. You see, if I ask most people out there, what should your percentage win rate paid? They'll go, oh, it needs to be 80%, 90% in order to be profitable. Then it's not actually true. There's more to it than just the win rate. Yes, sure. The win rate is very important. And yes, it's more than just how many winning trades you get. Controlling your emotions. It's the whole mental approach to trading. There's two things in trading you need to control. Like I've said, one's ahead, one's your heart. You've got to control your emotions. And so obviously having more winning trades, more profitable trades is a good thing psychologically, emotionally it helps you trading. Of course it does gives you confidence. Everybody wants to see winning trades. An example of a 90% winning system trader. But here's a scenario, I had someone many years ago, and you may have heard me talk about this in the past, who came to me with and this was a real situation, by the way, came to me with a 90% winning system. So every ten trades, they had nine profitable trades, one loss. You'd think, especially if you're relatively new to trading. Wow, what an amazing system. I want to know how they did it. The issue is, is that person was losing money. And you think about it. How does that happen? Well, it's quite simple. What they were doing is having small wins and a big loss. And to put it in very simple, basic terms, let's, let's talk pips. You know, I don't like pips. And I don't believe in pips as a way of identifying profit. But let's make it simple. And let's say that they had nine trades in a row making an average of ten pips profit. So therefore they made 90 pips. You could think of it as like percentages. And they had one loss out of those ten trades that lost let's say 100 pips. So now the minus ten pips. If they were making 1% all the time and they lost 10%. Yeah. Same thing. You know, they're negative, but the win rate's really good, which is what you all want. And I'm here to say, well, maybe it's not quite as important as you think. So for me, there's more important factors. A high reward:risk is more important. And a good strategy to me should always have a high reward to risk. And that's more important. And let's do some very quick numbers again. Let's imagine we still have ten trades. And let's imagine instead of being a 90% winning system we're only a 50%. So we're losing half the trades. We take one and every two trades we take will now lose. Okay. In this scenario. Now let's say we have a 3 to 1 reward to risk trade. So that means on every single trader take I have a stop loss. Let's call it 1%. And I have a profit targets. Let's say it's three times. Now of course in reality it's not always going to be exactly that.…

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#579: What Every Trader Needs to Know About Broker Time Settings 5:22

15 weeks پیش5:22

5:22

What Every Trader Needs to Know About Broker Time Settings 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 Watch Prop Firm Masterclass #579: What Every Trader Needs to Know About Broker Time Settings In this video: 00:28 – What time do your charts start the new trading day? 01:56 – 5:00 P.M. EST New York time is when the charts open for the new day. 02:50 – Does your broker have a “Sunday candle”? 03:58 – Have a look at the brokers that I use – see here https://theforextradingcoach.com/forex_trading_resources/ 04:32 - 17 minutes Masterclass and Book a Call. 05:03 – Comments, Like & Subscribe. Is your Forex Broker’s Trading Platform set to the right time zone? If it's not, it could be causing you many unnecessary losses. Let's find out about 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 579. What time do your charts start the new trading day? You can ask the question about forex brokers and the time that their platform start the trading day and the trading week. It's really important that you get this right, because maybe there's a lot of people out there that just don't understand it and don't understand understand the importance of getting it correct. So it doesn't matter where you live in the world, the correct start time of the new week and each day of the trading week is always at 5:00 P.M. New York time. That's Eastern Standard Time. So again, it doesn't matter where you live. Doesn't matter where I live. All you need to do is convert your local time into that 5:00 P.M. Eastern Standard Time, new York time start of day. And obviously with most people around the world, they will have daylight saving. When you change from, you know, into summer, into winter, etc. and that's the same also in New York. But 5:00 P.M. New York time is always 5:00 P.M. New York time. So the only thing that's going to change is what that converts to in your local time zone. So really important that you understand that. And there could be differences like for me right now in, March, we are in summer time in the southern hemisphere. But of course, in the northern hemisphere where New York is, it's still like wintertime, winter in the spring. And, you know, vice versa. When they go to summer, we go to winter. 5:00 P.M. EST New York time is when the charts open for the new day. But you have to understand that 5:00 PM New York time is always 5:00 P.M. New York time. So get that bit right and you'll be fine. So how do you check that on your forex brokers trading platform? Well, the easy way to do that is to see when the new week starts. So when the charts open for the first time in the week, that should be Sunday 5:00 P.M. New York time, and each subsequent day will be 5:00 P.M. New York time. And if you're seeing that on your charts, generally if you go down to like a one hour chart, it will start at 00:00 Timestamp and you will see that on your charts and you'll know in your local time zone what time that is. You'll know that's the start of the day. You'll also figure out that that converts to 5:00 PM New York time. Perfect. You're good to go. Does your broker have a “Sunday candle”? The issue that we find not as much today is it used to happen, but some brokers used to have what we call a Sunday candle, and that would have been a candle that lasts 2 or 3 hours, at the beginning of the week before their first full day starts. Now, when you think about the problems that causes is the charts. So if you're using light indicators or support and resistance levels whenever you're using, it assumes that one bar is equal. So it assumes that in the correct chart you should have five days on the daily charts. Each of them having exactly 24 hours. And if you do, fantastic.…

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#578: Top 5 Forex Trading Mistakes to Avoid 9:35

16 weeks پیش9:35

9:35

Top 5 Forex Trading Mistakes to Avoid 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 Watch Prop Firm Masterclass #578: Top 5 Forex Trading Mistakes to Avoid 00:33 – What you must do in order to succeed as a Forex trader. 00:46 – #1 You must have confidence in your trading strategy. 02:00 – #2 Forget Pips and understand Percentages. 03:50 – #3 High Reward:Risk trades. 05:35 – #4 Don’t let trading control your life. 06:40 – #5 Belong to a trading community. 07:52 - 17 minutes Masterclass and Book a Call. 08:52 – Blueberry Markets as a Forex Broker. 09:14 – Comments, Like & Subscribe. Today, I'm going to discuss the five things that you must have as part of your trading plan in order to be a successful, independent and profitable forex trader. Really important this. Let's get into the more right now. Hey there, Traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 578. What you must do in order to succeed as a Forex trader. That’s right today I'm going to give you my five top points that you must have in order to become a successful trader, but a profitable trader and also an independent and knowledgeable trader. So let's get into it. #1 You must have confidence in your trading strategy. Now the first point is you must have full and utter confidence in your trading strategy. You must know exactly what to do when to do it. You must have proof in your strategy that it's been proven across different markets, across different time frame charts, across a large amount of length of time that you've traded that on demo and small live accounts before taking it a little bit more serious on a bigger candle problem. But you have to have that strategy. Why? Well, otherwise you're going to doubt yourself. Aren’t you? Going to see something and you go, I'm not quite sure what to do here or you start gambling or you leave a trade because you've had a few losing trades. And of course, that's the one that would have won. And you do all these silly things and you break the rules, you break your plan and it all comes down to having no confidence or a lack of confidence in what you are doing as a trader yourself and or your trading strategy. It's because it's not proven, because you're not really 100% committed and confident with it. And so to have a trading strategy, you're fully on board with is the most important thing as part of being a successful and independent trader. #2 Forget Pips and understand Percentages. The second point is you must understand risk. Forget pips, do not count your success or your failure on pips is just madness. Luckily, over the last number of years, more and more people have figured that out. But when I started, everybody talked in pips and I'm talking 20 years ago now. But luckily today people understand percentages of risk. Now, for me, it's vitally important that you have low and controlled risk on every single one of your trades and it's equal. So what that does is one, it gives you peace of mind that knowing that if a trade goes against you and we all have trades, it get stopped in you. No it's perfect. It's a part of trading. You got to accept it. But if a trade goes against us that's fine. Providing that the set up that we took at the time look good and you can have some fantastic looking trade setups. And sometimes the market goes against you. Something happens, news announcement, somebody says something, whatever it is and the trade just goes wrong, that's that's life. Okay? But if the trade goes against you, you have to know that you lose a set low and pre known amount as a percentage of your trading account. Therefore it doesn't matter if you're trading $1,000, $10,000, $100,000, $1 million, it doesn't matter. It's still the same percentage risk.…

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