Online Forex Trading Course

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  • By The Forex Trading Coach
    The Forex Trading Coach 2024
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Economía Finanzas Personales
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Episodios
  • #564: Why 90% Win Rate Systems Are Dangerous for Forex Traders

    #564: Why 90% Win Rate Systems Are Dangerous for Forex Traders
    Oct 13 2024
    Why 90% Win Rate Systems Are Dangerous for Forex Traders  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 #564: Why 90% Win Rate Systems Are Dangerous for Forex Traders In this video: 00:26 – Do you want a 90% win rate system? 01:48 – A traders comment about a high win rate strategy. 03:15 – Focus on the quality trades. 05:05 – My 17 minutes Masterclass and Book a Call. 05:15 – Blueberry Markets as a Forex Broker. 05:55 – Comments, Like & Subscribe. As a Trader. Someone gave you a system that had a 90% win rate. I bet you'd want to trade it. The reality is, you should not trade a 90% win rate system. I'm going to explain why right now. Hey there, Traders! It's Andrew Mitchem at The Forex Trading Coach with video and podcast number 564. Do you want a 90% win rate system? So you heard me right. If I said to you, hey, I'm sure you love my system, that's got a 90% win rate, I. But you're going to make lots of money and you get. Yes. Please give it to me. The reality is that you're probably not going to make money off of a system like that. Now, if you've been following me for any length of time, you'd know the story I told a real true story from a few years ago where someone came to me with a 90% win rate system, and they were very excited and it all looked really good. The problem was that they were losing lots of money because their focus was on win rate. They were having, let's say, out of ten trades, they were having nine out of ten trades hit their profit target, hence a 90% win rate system. But the trouble is they were making lots of small little gains. And every 1 in 10 trades had a massive loss that wiped out all their gains, plus lots more. And so that becomes the, the reality of it. You know, you've got to be very careful with win rate. Don't put all your focus into that because you'll end up not doing, you know, what you should be doing, which is looking at things like control, risk, high reward to risk, looking at what the market's doing at the time, looking at the pair you trading, the current conditions, all those type of things that mean that there are so much more to having a successful trading system than simply having a high win rate. High win rate is not necessarily good and in most cases is not good at all. A traders comment about a high win rate strategy. And this issue resurfaced just yesterday when I had someone come to me with something very similar to this. And I just need a high win rate system because that's going to make me feel better and and it's going to make me trade better. And I tried to explain to them, look, the end of the day, you've got to make money out of your trading. That's the important thing isn't it? So why not focus on making money and doing it trading properly, than just being completely glued and fixated on this one thing? Because you find that with the people with 90% win rates, they do these crazy things like having there reward to risk run the wrong way, or have very structured and rigid, profits and stops which generally are not in their favor, as in they may have, let's say that pluck some figured that this guy, you know, a 50 pips stop loss and a 20 profit target. Now, if you know the way I trade, we never talk pips. But unfortunately, the people with the high win rate systems do. And so that's their issue is they keep getting stopped out. And that reward to risk is not good. Or they'll do something like they'll have, a ten pip profit target and 110 pips stop loss. And you know, nine out of ten trades go well. You're one big one loses. And so having their focus around the wrong way is something that they don't realize until they trade live. And they see that this 90% win rate system does not work Focus on the quality trades. For me,
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    6 m
  • #563: How to Capitalize on Q4 Forex Market Trends

    #563: How to Capitalize on Q4 Forex Market Trends
    Oct 6 2024
    How to Capitalize on Q4 Forex Market Trends  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 #563:How to Capitalize on Q4 Forex Market Trends In this video: 00:30 – Great trading conditions ahead. 01:06 – How has your trading been this year so far? 01:58 – What do you need to change? 03:12 – Book a call to talk with Paul Tillman. 04:07 – A link to our booking calendar. 04:28 – Join my free Masterclass 04:42 – Blueberry Markets as a Forex Broker. 05:58 - Comments, Like & Subscribe. 06:15 – Finish the year strongly How's your trading year been so far in 2024? We've got just three months left of the year that generally good trading months. What are you going to do to make sure you have a great final quarter of this year? Let's get into that a more right now. Hi there, Traders! It's Andrew Mitchem here at The Forex Trading Coach with video and podcast number 563. Great trading conditions ahead. What has happened to this year? It is just absolutely flowing past. I know we say it every year, but this one seems to be even quicker. We're now into the last quarter of the year. We've been through that northern hemisphere summer time with July and August are sometimes a little bit tricky to trade. And now we're into the last quarter. I think we're going to get some very favorable trading conditions because of all the events happening in the world. And generally October, November, December give us very good trading conditions, and that's what we need is traders. We need movement, we need volatility and we need to take advantage of that. How has your trading been this year so far? So my question to you is this how are you trading been so far this year. We've been trading since January. We're now into October. How has that first nine months of the year been? Has it been like pretty ordinary, pretty average for you? Is it been really good? If it's not been great, what are you going to do to make sure that you finish the year with better and improved results? What is it that you're going to do? Have you not met your trading goals? What needs changing? Have a think about that, because honestly, I think that October, November, December, the conditions generally are good. I think with everything happening in the world, we're going to get we're going to see some good market movement. And it doesn't matter where we're on the currencies or the metals indices, cryptos, the commodities, I just see great conditions. So let's take advantage of that together. Make sure that you are doing everything you can to, take advantage of the end of the year in these great conditions. What do you need to change? But it really also, I think, is important that we reflect so far that we're three quarters of the way through the year. What needs changing from your point of view if you're trading has not been quite as good? What do you need help with? What do you need to change do differently? Because let's face it, we continue doing the same old thing. Guess what? The next quarter is going to be the same old thing, and you're going to get to the end of the year and you're going to be disappointed. so I think it's really important that they take advantage of these likely good conditions, but maybe change something in your trading if we can help. Let me know. let us know. Leave a comment. ask questions because we're all about helping traders worldwide. On our course, we have clients in 108 countries. You know, we're a global community about helping people. So I think it's really important that you reach out and ask questions. And even if it's like other topics you'd like me to talk about and discuss on these videos and podcasts, I'm more than happy to do that because we want successful forex traders. But also if you're out there and you go, look,
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    7 m
  • #562: How Live Sessions Can Transform Your Trading

    #562: How Live Sessions Can Transform Your Trading
    Sep 29 2024
    How Live Sessions Can Transform Your 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 #562: How Live Sessions Can Transform Your Trading In this video: 00:27 – You need someone to show you how to trade. 01:23 – We trade and post in real time. 01:52 – Live webinar trades make +2.1% gain. 04:10 – This is invaluable information. 05:37 – My 17 minutes Masterclass and Book a Call. 05:56 – Blueberry Markets as a Forex Broker. 06:13 – Comments, Like & Subscribe. I'm going to explain this week why live trading room webinars work and how they can massively help you with your trading success. So let's talk about that a more right in that. Hi there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 562. You need someone to show you how to trade. Now different ways of learning how to do anything. whether it's trading or for me doing karate or learning to fly a helicopter or a guitar, whatever it is, you need someone to help you and to show you and to be able to refine things and trading's exactly the same. You see, you can go online and you can look on YouTube in different places and you can have video course just like our one, and you can go through and read things and see some videos, and that's all well and fine. But the trouble is in trading is to make any money in trading, you have to have the ability to do this in real time. You know, it's all well and good looking through some books and seeing some waves and retracements. And we did this at this point and look at this massive trend and you know, and there's so many videos and I see with millions and millions of hits on YouTube, but all they're doing is showing you with hindsight what happened. We trade and post in real time. And the reason that we do so well, as do our clients, is we do everything in real time. We're not about hindsight. We post our trades every day for people to follow in real time. We put our trades on our forum site on the shorter time frame charts in real time, and every week we hold a live two hour trading room webinar one weeks in the European session with myself. The following week is in the US session with Paul Tillman, who lives in the US. Live webinar trades make +2.1% gain. And yesterday I held a live European session, webinars, a two hour session where all our clients can jump on to, they all get recorded as well. So if you cannot attend live, you can go and watch the recording. And by the way, we have all the recordings dating back to 2010 on our website. So vast amount of very valuable information now on the webinars. The beauty of them is they are live. There's no like cherry picking the hand, picking the best trades. you know, we're talking about trades, we're discussing trade set ups, etc. live in real time. And obviously no one knows the result of what we are saying, we are taking. Now on yesterday's session at the end of the webinar, which ended at 5 a.m. Eastern Standard Time, which is in the European session, we took some trades and I posted and took three trades in front of our clients. We had a EUR/GBP 6 hour chart trade sell. Which had a beautiful retracement and hit the profit target, both positions hitting the profit target. We had a Netherlands 25, the index 2 hour charts trade one position got filled and it was stopped out. And we had a, two hour trade on the gold against the Australian dollar. Both positions got filled and hit their profit targets. Now the EUR/GBP made a 2.7 to 1 reward to risk a 1.35% gain. the Netherlands 25 lost a quarter of 1% because it was stopped out and the XAU/AUD had a 2 to 1 reward to risk or 1% gain. That gave us with only a half percent (0.5%) risk per trade total split over two positions. That gave us a net gain of 2.1% on our account. So 2.
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    7 m

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