Lessons from my 20 years as a Forex Trader

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#500: Lessons from my 20 years as a Forex Trader

In this video:

00:20 – How my 20 years of trading knowledge can help you 

00:47 – Trading is hard work

02:40 – You are in a fortunate position today 

03:33 – Our commitment to quality

05:22 – Get the basics right first

06:42 – View my new on-demand masterclass

07:07 – Take a look at Blueberry Markets

I want to help you by explaining some of the things that I found out in the last 20 years as a full time forex trader. Let's talk about that and more right now.

Hey, the traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 500.

How my 20 years of trading knowledge can help you   

So big celebration today, something we are really proud of. And I'd like just to come out so I this you can see here nice sort of autumn day here in Nelson and wanted to explain what I've learned so I can pass the information on to you and help you to become a better trader by shortcutting the learning process for you.

Trading is hard work

So first of all, let's just be real about this. Good trading is hard. It takes time, it takes dedication, it takes commitment. If you're the sort of person that is lazy or you think it's just going to suddenly, roll off and make you a multi-millionaire by next month, it's not for you, or certainly we're not for you.

You're probably wasting your time. In all honesty, you have to be real about this. And so I think that is one of the things that I find, especially with coaching, you know, from time to time and it's probably on a daily basis, people will come to me and say, Andrew, how much can I make from this? Or I don't like my job, I want to replace it with trading.

Now there's a few things there. If you want to put some effort, time, commitment, financial commitment, your own time, commitment, a bit of hard work. Yes, it can work. And yes, you can replace your your income with it. Lost of ways you can do that? Like prop firms, etc. like that. But you still have to start small. You have to learn to walk before you can run.

All those kind of phrases are so, so true and trading. And over the last 20 years, I think that's probably one of the biggest things that I find because online obviously there's a lot of makes it look easy things, a lot of, you know, YouTube videos everywhere. Everybody's got an opinion or a method that, you know, it's going to make you a multimillionaire next week.

They’re driving around in this red flash Ferrari and things like that. Laptops and pretty women sat next them. Look, they're all hired. They’re not real, they’re staged. When I fly around in my helicopter and show you that's me flying in my own helicopter. I've done that through hard work trading and hard work to learn how to do that and hard work to be able to afford, how to do that.

So it's real. It's taken 20 years, you know, it's not something I started, and within a month I was suddenly owning a helicopter. So get it real and realize that I have gray hair and it takes time. And that's what you have to accept.

You are in a fortunate position today 

But you are in a fortunate position because, you see, when I started, we are on dial up Internet. Things were very different. Not a lot of information out there. I had a one gigabyte plan when I started trading on dial up. First of all, I had to get the Internet to work and actually stay stable and then one gigabyte plan, which my mates were absolutely amazed at, that I had a one gigabyte per month Internet plan.

It was huge. And then I remember we went to 10 Gig and everybody was just blown away that I would have such a massive amount of Internet per month. And of course things have changed as everything does. Technology changes everything. It gets better,