Podcast: Evaluate Your Trading Year

In this weekly video:00:31 – Was 2018 a good trading year for you?01:02 - What worked and what did not work?01:42 – Stop the searching and time wasting02:31 – Surround yourself with real traders03:14 – Client makes 7% gain in 1 week03:52 – Daily analysis finishes 21st December and starts on 14th January 201904:30 – We love trading and see you in 2019

How has your trading gone this year and what are you going to do to make any changes as we head into next year? Let's talk about that and more right now.

Hey, traders, Andrew Mitchem here, The Forex Trading Coach, with video and podcast number 303, coming from Nelson in the South Island.

Early morning here as I'm off for the day. We're down here on holiday and just wanted to make this video. The last one for 2018. And really to talk about how has your year gone?

Was 2018 a good trading year for you?

What's been good for you? What's worked? What's not worked? What time frame charts have worked? What type of strategies worked? And what is it that you need to do? Just use the next few weeks over Christmas, over New Year, to evaluate your trading and to really to put you in the right position for making next year a really good year for you.

Have you found that the technical analysis has worked? Have you found that maybe fundamental analysis has worked? Maybe you're looking at a combination of the two.

What worked and what did not work?

Maybe you're completely confused and you're not sure what should work or what does work. Maybe your finding yourself glued to the charts all day and you're finding that maybe 15 minute charts are just not working for you. It's just too fast. Maybe you think that daily charts, or weekly or monthly charts, you don't have a big enough account. Whatever it is, use these next few weeks to really workout what is going to make 2019, and beyond, work for you. Really important you do that.

Stop the searching and time wasting

I also think it's important that a lot of people I hear from, who are not clients, they're spending far too much time searching around Google, looking for the next latest greatest strategy. They're spending too much time on forum sites and basically getting inundated with other people's opinions and information overload. The old analysis paralysis going on there. You know, that can be dangerous as well because a lot of those places, in all honesty, are probably populated by people who don't trade, who can't trade, that type of thing. A bit of a generalisation, but you know, online, a lot of places like that, forums, etc., especially in the trading world, can be like that.

Surround yourself with real traders

It's important that you surround yourself with real traders. People who are trading. People also not glued to the charts. Like I said, I'm here in Nelson, I'm trading off the daily charts this week. I put a few trades on the weekly charts as well, but I'm not trading much else, because I don't want to this week, I'm doing other things. Got the family here, going around, been on the beach, although it was a bit of a cloudy day today. Just having a good time doing other things.

And really, you need to surround yourself by people who are, who I suppose walking the talk, not just talking it, they're actually out there doing it, and I think that's really important as well.

Client makes 7% gain in 1 week

Look, I'll just received an email this morning from a client, Mickoli. And Mickoli said, "Hey Andrew, last week I was trading just on the longer time frame chats and I made 7% in a week." Now, he's risking 1% per trade, but we made a 7% return last week. So, ask yourself, do you want to do that from just trading 10, 20 minutes, once a day? And if you do, then you know where to find us, you know where the help is. Mikoli joined me probably about a couple of years ago, I'm guessing, without looking, and 7% in a week, just trading longer time frame chats, and so it can be done.