Are You New to Trading Forex? He is a snake oil salesman through and through. But they never teach you how connect all the studies together. To help you develop a process driven approach to trading rather than simply applying a "one set up fits all" approach.
Why traders choose FOREX.com
So, luckily for you, I publish, and I've done every day for the last seven or eight years, free information on my website where I publish at 5: So, it's information that you can use to help better trade for that upcoming day, that new day. Now, why does it matter? Well, one of the things you will notice out there is that a lot of people talk in hindsight. They say, you know, economists are very good at it, aren't they? They'll say, yesterday, the British pound did this, or the US dollar did this, or there was some economic event, and the result was better or worse than expected, and this is what happened.
Now, a lot of that really quite honestly is useless information, because all that helps is to understand why something moved. It doesn't help us with like, taking new positions, not very much. How to use strength and weakness to your advantage. However, if you can understand that, let's say, the US dollar is looking, let's say, really weak, and the Euro's looking really strong, the likelihood is that the Euro against the US dollar is heading upwards.
So, if you take that out to a bigger picture, let's say if you look at the monthly charts, and you're seeing the Euro against the US dollar very strong. And even the weekly charts, you're seeing that the weekly charts are showing a lot of strength also, and so the daily charts. Now, if you're trading on any timeframe chart, let's say a four hour chart for example, and you're seeing all this strength in the Euro against the US dollar, and you're then seeing the Euro, US dollar in four hour charts starting to pullback, and then it shows you a good strong bullish price action candle.
It needs other things setting up, like it needs to be balancing at a good level, it needs a few extra things, trend line breaks, et cetera, to back it up even further. But let's say you get all those things lining up together, you got almost like the perfect thing setting up there.
You got the bigger picture strength, you got the daily strength, and now on the shorter timeframe chart, you're starting to see strength as well, all showing the same direction. Let's say also Swis francs and the Pound results are strong against the US, and so is the Yen, and so is the Franc, and so is the Aussie, and the Kiwi ket's say.
And what that's telling you then is that the US dollar right now is really, really weak. Let's say the Euro against the Canadian and against, let's say, the Yen, or Franc, was also very strong. So, what it's showing you is this massive amount of all round strength in the Euro, massive all around weakness in the US dollar.
So, you're seeing that on the currency pair, that as a strength on bigger pictures monthly, weekly, daily, and now down onto your four hour chart, as well. Really, when you think about it, it has to all add up to say this is going to be a very high probability trade. Now of course, I'm assuming that you have a good strategy and the actually buy position that you're looking at taking as a good setup technically anyway. But all it's doing is saying we're not buying. After a pullback, let's say on the four charts, one hour charts, whatever it is you're trading, but it's with the bigger picture, and that's where trading with strength and weakness can really help you.
So, have a look on the free post that I put on my website daily. Coaching clients receive much more information. Now of course, clients get a lot more information, they get specific trades.
They get information on the weekly charts, and on the monthly charts as well. I don't publish all that on the free information, just the daily charts, but have a look, and it will dramatically increase your trading performance, because logic suggests that if the longer bigger picture is saying a currency pair is likely to be moving up, and you're also taking the shorter timeframe chart, in that same direction, it kind of stands to reason that you have a higher probability charts of success.
So, that's how you can best use strength and weaknesses, it's a massive thing. Unfortunately, not a lot of people actually use it to their advantage. But when you do, it can dramatically help your results. I'll see you this time next week. What is the best way for you to learn how to trade in the Forex successfully?
Let's talk about that more right now. And it's a question I get asked quite often but what is the best way to learn how to trade the Forex market? And the problem is there is no one right answer. Because it depends and it depends on quite a few things. It depends on you, how you best learn. Now I personally learned about 15 years ago through what I call the school of hard knocks. And it was basically through a lot of trial and error. And I did one small course in Oakland here in New Zealand, it wasn't particularly good, when I look back on it.
But it got me in to the idea of trading and I sort of developed the love and the passion and the interest of trading from there onwards. But back then you didn't really have the options of different courses and different strategies and ideas et cetera that you do today.
So in many ways you are better off today, however the market is flooded with so many different suggestions and ideas. And a lot of people get obviously very confused with that and rightly so. Well the way that I started teaching almost 10 years ago, when I developed my own strategy that worked particularly well.
Was I started with some live in person and 1-on-1 training, that then developed in to some small group training. The problem is, is that then relied on me personally being there in front of people. We then developed that in to some 1-on-1 live webinar tuition. And from then, that then led to the video course and that's what people are been using for the last almost seven years now and very, very successfully. If you have a look on the Forex Peace Army on the website we've got reviews and an average of 4.
So you can see that the success that people are getting from the video course is immense. However, it's not just the video course, because some people like a little bit more interaction, and that's the beauty of the way that we teach and the structure of our course.
Is that we have live weekly webinars where we are interacting with clients. You can ask questions you can see our screen live.
So you've got that interaction and that ability to ask the mentor and the trader in real time questions. Without the benefit of hindsight, what would you do right now, all those kinds of things.
We've also got a forum site which is an excellent way of learning, and on top of that we have the daily trading suggestions which give people real time … and again without the benefit of hindsight. Because we are placing those trades ourselves in real time on the daily charts. We also post weekly and monthly chat rates as well.
And then when you go to the shorter time frames, they get posted on to the forum site. And so there's various different ways of learning that. Some people learn really well from the videos and the ability to go and watch and re watch. Other people love having that interaction and asking questions. Other people like seeing the daily trades and they're looking at their charts in real time trying to predict the trade setups that we are going to predict and there's various different ways there.
But on top of that, some new and exciting news that we've got for you, it's all about Paul Tillman who Paul started with me as a client back around four years ago now. And has done extremely well from taking the course. Now Paul's developed a fantastic working relationship with myself and clients, he helps to moderate our forum site and he also holds the live US webinar sessions.
Now on top of that, Paul's also held some in person 1-on-1 tuition for people within America. So if you are in America or possibly even in to Canada, we have the ability to either have you to go to see Paul in North Carolina or for Paul to travel to you. So you still get the video course and all that benefits that go with that, but on top of that you get someone teaching you live in person 1-on-1 sitting next to you.
Now of course that limits you if you're not in America or even in to Canada. And so Paul has now offered the same service that he does when he has a 1-on-1 sitting next to someone. But as a 1-on-1 webinar session with you, so he'll take you through the whole course and teach you the whole course step by step which of course you still have yourself to watch and review. But you can have someone almost like handholding you, taking you through that whole learning process and basically short cutting that learning process for you, with that ability to interact backwards and forwards between the student and the tutor.
And that's a very, very worthwhile exercise and very, very valuable experience. To not only gain that knowledge but to shortcut the learning process and to get you trading quicker. So that's giving us now, apart from the video course, which you know we've had available for the last seven years. We have now got the availability to have the video course plus some 1-on-1 webinar tuition awesome live in person 1-on-1 tuition as well.
So there is options to help you. So when the question comes back to, what's the best way of learning? We try to basically give you the entire package, so regardless of what you personally find the best way of learning we have tried to have that covered.
So you are going to get yourself the best possible chance of being a successful Forex trader. If you'd like to find out more about that I am going to put a link below this video and podcast to the three different options so it's the normal video course. It's the video course plus the in person training and it's the video course plus the 1-on-1 webinar tuition.
So lots of great options there, and as mentioned reviews on Forex Peace Army on the… as I'm recording this right now at 4. Quite remarkable over that length of time, almost 10 years that we continue to get that type of rating which of course we're absolutely thrilled about.
We worked some really hard, so hard to try and make this work for our clients. And to help them become successful as well as us being successful traders. So if you'd like to know more, click on one of the links below this video and I'll send you some more details shortly. Are you about to give up Forex Trading that's just not working for you? If that's you, I've got some really important information for you to listen to first before making that decision. Hey traders, Andrew Mitchem here, the Forex Trading coach of video and podcast number Now, I wanna share with you a story from my live webinar with my clients just last night.
Now in that webinar, I had a new client on his first live session with us as the group, and he said to me,. It's just not working for me. I've joined your course as basically the last ditch effort to make trading work. Can you ask people on the webinar, other clients, what's the secret to making this whole thing work? Why are they successful and I'm not? It was really interesting to watch the comments come through from a number of my clients, and a number of them have been with me for many years.
There were a range of comments come through, but basically it came down to the less-is-more philosophy, the trade to longer timeframe charts, the be selective with your trading as in don't take B grade setups.
Only take the top quality setups. Get to understand the patterns that you're looking for. So, we looked for, basically, two quite distinctive patterns. One's a reversal, one's a continuation. Basically, if you get most of the setup looking exactly as you want, it doesn't matter what the pay or what the timeframe, what the direction is, but if you get that, so often the trades will work out.
It's because of probability. Now, there is no one perfect way of trading, and different people have different ways of trading, obviously, and that's why the strategy that I use basically combines different bits and pieces of different strategies to get one overall proven strategy that works.
Along with that strategy and the patterns that you're looking for, it was about taking those longer timeframe charts. Personally, I wouldn't look at anything less than one hour timeframes. Don't worry if you miss trades. You're gonna miss trades. You don't have to be at your computer all the time. A really interesting comment came out from a client that's been with me for about three years. His advice was just to look twice a day and that's it.
You've gotta carry on with normal things in life, whether it be family, entertainment, recreation, job, whatever it might be. But, it has to be realistic in terms of the time that you can dedicate to your trading.
He looks around 5: Beginning of each day you can look at the daily charts, and also, you can look at the 12 hour, the 8 hour, the 6 hour, the 4 hour, and the 1 hour charts. Put that all together once a day at 5: It might take you maybe 20 minutes, 15, 20 minutes to go through all those charts. Very, very easy to scan through and select which trades you'd like to take. And then, at 5: That's all you need to do. You don't have to be there at that exact time because we use a lot of limit orders, buy and sell limit orders.
We are looking for retracements anyway, so you don't even need to be at your charts at that exact time. So, what does this do? Well, it gives you less stress, less headaches, higher reward to risk trades, news is less of an influence in your trading, because you're trading those bigger pictures, those longer timeframe charts. You're not having to be there watching every pip move up and down. You're not fiddling with trades.
You're not trading stops. You're not waiting for something to cross A to cross over B or that red line to cross over that green line. You're not waiting for all those kind of things. That's the beauty when you take your trading techniques level into that bigger timeframe. The other comments were along the lines of be part of a community and all those type of things.
Discuss your trades, take screenshots of your trades. I've got some great software that when I place a trade, it takes a screenshot for me. My clients have access to that software as well, so not only does it make the placing of the trades very accurate in terms of position sizing, et cetera, but it also takes a screenshot of what the trade looks like at the time that you place it.
And, that's very, very important. I might have taken that one. Go and review that. Review the good trades and the trades that don't work out. It's very important that you do that. As part of the group and community, just following on from that, during the session yesterday, I took three trades on the one hour charts, live in front of my clients. One was the Aussie Yen, which was profitable. One was the Euro Aussie that, in the end, got stopped out, although it got into some reasonable profit.
And the third one was a buy trade on gold against the U. That also hit profit. Now, the net result of taking those three trades live on the webinar, with half percent on each of those three trades, was a positive plus 1.
Again, less is more. You don't have to sit there watching five minute charts and doing all these different things. We just looked at the close of the one hour chart when we started the webinar and the close of the next one hour chart mid-way through the webinar.
That was five minutes looking throughout the one hour charts on two occasions, 1. Not bad is it? Those sort of things can be done. If you'd like more information, feel free to contact me.
Do the experts really trade? Let's talk about that and more, right now. Now, I've got a bit of a controversial subject. Now, I want to talk about this, and I want to talk about the subject of do the experts really trade? I would like to attend your forex trading course as a beginner to start with.
I intend to go full time on this budiness and i know that lots of my friends have lost alot if their money playing forex but i want to learn if there is a way to make money out of it. Thanks for your enquiry about Forex Course or Fund Management. Your email address will not be published. You may use these HTML tags and attributes: Our Education Strong Points: Market Maker Psychology 1 Min Chart 2.
Price Movement Analysis 1 Min Chart 3. How to read 1 min Chart 4. Tactical Trading and Cross Hedging 8. Thanks Andeerson Wong Reply I would like to attend your forex trading course as a beginner to start with. Andeerson Wong Reply I would like to attend a forex course.