Why Sell a Successful Trading Strategy?

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#522: Why Sell a Successful Trading Strategy?

In this video:

00:30 – Why would you sell your trading strategy?  

01:10 – How I started

02:25 – Teaching the strategy

03:40 – The number of clients expands  

04:10 – The start of the TFTC community of traders

05:28 – Teaching clients for a broker

06:47 – Helping like-minded people worldwide

08:30 – Blueberry Markets

08:45 – Book a call with me and my team - https://theforextradingcoach.com/call

If a trading system is so good, why would the developer of that trading system wish to sell it and share it with other people? Let me answer that question for you and more right now.

Hey there, Forex Traders! Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 522.

Why would you sell your trading strategy?  

Now received an email this morning from a trader for John over in the UK. They said, Andrew, I need to ask you this question. It's the the obvious question to ask and it's like if you're so good at trading and if your system is so good.

Why do you need to sell it to people? And it's quite a, you know, an obvious question. And so what I'd like to do on today's video and podcast is to give you a bit of detail and background about the Forex Trading Coach and my trading. To help you to understand where we've grown over the years, where we are today, and why we do what we do.

How I started

So I've been trading for just around 20 years now and back in around 2007 I ended up being the top trader on an auto trade company. Back in the early, early days of trading where you could buy signals off people. And I won the competition, won the global competition. I had a system that worked really well and it topped everybody.

There were hundreds and hundreds of traders even back then. And so back then, people could follow along. Had no idea who you were, but they could follow along and buy off that company. Now, that was okay, but I thought, okay, I've come and won this. So what I ended up doing is creating a very basic signal system. Back in the early days, you know, websites were very basic.

There was PayPal and nothing else. And then what I ended up doing is I ended up developing an email each day that went out and it was like, buy here, stop loss, their profit target there. And people would pay a monthly subscription for that. And it went really well.

Teaching the strategy

And I got to a brand end of 2008, early 2009. And then I received an email from one particular subscriber who lives over in Noosa, in Australia. And he said to me, Andrew, I'm really enjoying your signals. They're doing well. I'm making really good money from it. But more importantly, I'd love you to come and teach me how you do what you do. So rather than just relying on your email each day, I can find out how to do this for myself because ultimately I could get hit by a bus, you know, no more Andrew and this guy went from making a lot of money to suddenly no emails, and that was it. So he wanted to develop that information, that knowledge education for himself, which is fair enough.

So I put together the course into like a word document, took it down the road to the printers and say how you make this into a real nice, colorful page doc in a booklet for me. And that's what we did. It was really was as as basic as that went across to Australia, took a back up flash drive in case I lost everything and I spent three or four days with this guy.

He's still a client to this day. And with him and his family teaching him how to trade it was really enjoyable to discuss trading in person with someone. So that was the very first client.

The number of clients expands