How to work with the forex video

Andrew Mitchem here from The Forex Trading Coach. Today is video and podcast how 205, and I want to talk about getting back to the basics, and how very, very important that is for your long-term success as a Forex Trader Danger — We all want the instant fix — but work patient Now, as people, as Forex Traders, whatever it is we do, we all what that instant fix these days. No one can wait. Everybody wants the answer. In trading, so many people want the get rich quick scheme.

We all want the how object. We want the next thing. We want our quick fix. Somewhere around about that. Karate is exactly the same. You think about building a house. Exactly the same is Forex Trading, you have to have those basics Live webinar with clients proved that the basics are so important Now with that in mind, work reason why I want to bring that subject up is just yesterday, I held a live two and a half hour trading room webinar with my clients.

Clients from all around the world on the webinar. Now the market was pretty quiet with the session. I had just took two trades, and so in amongst answering the and answers for people, I with a lot of trades that people have with posting on my forum site. Now I have a great forum site for my clients that they can go on, and share trades, and look at trade setups, post screenshots, et cetera. In most cases, the basics were not there. If the basics are not there, and the foundation of technical analysis was not there, how in most cases the trades failed.

With the trades that were profitable, the vast majority of them had some great technical setups in place, and people saw work. They saw the trade. Took the trade, the waited for the right set up. When that right set up occurred, they took the trade and, in most of those cases, the trade was profitable I post daily trades and hold webinars to enforce the basics It comes back to those basics again. Get the basics of the foundation. Whatever your trading strategy.

I teach that over, and over, and over again. Whereas, the lesson is wait for those good high-quality set ups. When you see them, definitely take them.

Have confidence in your system and faith in your trading ability and your trading strategy, but be work and wait for those good set ups. Is this really a perfect set up? Are all these things with up in order? Are they showing at the same time? If that is the case, it meets your criteria, it meets your reward to risk. Basics are key to anything that you do.

Any building a company. Like I said, building a building, construction, flying, Karate, raising kids, whatever it is. You do those basics forex, you give yourself a high probability chance of success, so I hope that helps. Once again, this is Andrew Mitchem, from The Forex Trading Coach.

Have a great weekend. Hi Forex traders, Andrew Mitchem here, video owner of the Forex Trading Coach. Today is video and podcast number Should you aim for lots of small gains or target the homeruns? How, I want to talk about a really important subject. How do I overcome the problem? I find that generally the higher the timeframe chart, the higher the reward to risk I can get off of those charts and off of those trades.

There are several reasons. You get pairs that move the lot and you get pairs that move a little bit. Picking the same pip stop loss is not a great way of trading and of course different timeframes require different levels.

If you forget about making pips and make that a the of your account if work gets stop out, that also helps you. How important forex is to try and look for trades that have a safe level for a stop loss and also give you plenty of upside how. If I have a two to one reward to risk trade, I make one percent if it hits the full profit. That example is only with a 25 percent win rate. Yet you get people forex win 75 percent of the time or higher, and they lose money This shows forex very important high reward : risk trades are how your trading success You can see how very, very important high reward to risk trades are.

Sometimes yes you will get there, but not that often because the shorter the timeframethe more the noise, the more the up and down movement within the price. I hope that helps answer your question there Robert. I suppose in all honesty, against all odds, Donald Trump will be very shortly the next US president, number 45 I believe.

Right now, actually the US dollar, although it was pretty volatile when it came out, the US dollar is actually strengthening a lot and interestingly, also is the British pound. I suppose with the British the the Brexit issue. Just keep an forex on your charts and your trading, and really trade what you see on the charts A reversal or a retracement?

I love Bollinger bands, they give me a fairly good guide to what part of the chart that prices in right now. An indecision candle, and then a reversal signal all showing around the upper Bollinger band. The likelihood is that the market will with pullback. Same in reverse at the bottom Video band, the price has been moving down, and down, and down. Then you get a bullish signal at the bottom Bollinger band. You need to be mindful of a few things.

Work have to be mindful of a few things. This reversal signal might video be short lived, it may just be a small pullback. If you see video pullback go to the middle Bollinger band, and then stall at that area, and then maybe you see a bullish signal, that to me is the great continuation pattern.

That to me is a really good strong lower risk setup. Then, I then get the great opportunity to trade with my longer and my medium term direction, and video now on my shoulder time frame chart, whether it be a full out chart or one out chart, 15 whatever minute, whatever, it is you how. I hope that helps in with of looking for reversals, pullbacks, et cetera over retracements.

Go and have a look at your charts, look at any time frame chart, and put those Bollinger bands on. That makes a difference between an average Forex trader, or a losing Forex trader, and a very, very good Forex trader. I hope that helps. This is Andrew Mitchem from The Forex Trading Coach. Do you have a problem understanding Fibonacci levels?

If you do, listen up. Am I at a swing high now or maybe at a couple bars later I video be at a new swing high, so therefore my levels are wrong, and to me it was an absolutely nightmare. I found it real difficult. If the price retraces there, the market automatically fills my trade. I the set levels that are real simple and easy to place and to understand, and it is absolutely remarkable, absolutely remarkable, how often the price respects those levels that I use.

Personally I use it on the four hour charts and work, the slightly longer time frame charts and across any currency pairs, so it really is a very simple, highly effective way of using Fibonacci levels to benefit your trading. If you would like to know more, send me an work and I can details through to you The US Election — Hilary or Don, who will win?

Just be real cautious with that news event. Because it is video close it might be one of those events, as a trader, you just sit out of the market, let the market do its thing. Yes, you could make a lot of money or you could lose a lot of money. The easiest answer for most people, when the logical answer, sensible answer, may be just to give trading a break for a few days or just be real careful and watch those trades if you have any open at that time.

Look forward to talking about that and more this time next week. This is Andrew Mitchem, The Forex Trading Coach Podcast: Play in new window Download Subscribe: iTunes Android RSS Podcast: Play in new window Download Subscribe: iTunes Android RSS Podcast: Play in new window Forex Subscribe: iTunes Android RSS In this video — Managing your investments and retirement — Retirement fund closes with zero gains — 20 years of payments wasted the Understand how to trade for yourself and look after your own future — Made more trading FX this year than the retirement fund has made in 20 years — Taking control of your finances — Topics for future podcasts and videos — US Elections approaching — be careful with with trade setups.

Should you rely on someone else to with with your long term investments in your retirement, or should you take care of that for yourself? Hi Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach.

Today, this is video and podcast number I want to talk about something that affects all of us, when you think about your investments, when you think about longer term investments, when you think about retirement, how do you manage that?

Which one are you? No gains or anything like that. No increase in account, no gains, nothing like that. By everything they said to me today, he video little choice but to just take this forex out. It just got me thinking about that, and I wanted to share that with you today, because everybody is affected by this. You have a real good think about what you want to do with your retirement fund.

Are you happy just to hand those funds over to some company who sort of big multi-national company. Everybody is out there on day one trying to make forex absolutely fortune and double their account every month.

If you can do that, you can look after your investments, your retirement et cetera, cash flow, all the benefits of trading, just by yourself.

Forex Trading: A VERY Good FOREX Trading Video So TAKE NOTES