How to make Hundreds or Thousands of Dollars per Trade

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#541: How to make Hundreds or Thousands of Dollars per Trade

In this video:

00:26 – How anyone can make hundreds or thousands of dollars per trade.

00:59 – Trade with the trend.

01:38 – Reversals and Continuation candle patterns.

02:11 – AUD/CHF H12 chart hits profit.

03:20 – Use Prop Firms to scale up your gains.

04:08 – AUD/CAD D1 trade hits the profit target in 5 hours.

04:45 – You cannot take every Continuation pattern as a new trade.

06:46 – Trade through Blueberry Markets.

07:38 – Attend my Masterclass, Prop Firm webinar and book a call with us.

Today, I'm going to show you how you can make hundreds, if not thousands of dollars per trade in just a matter of a few minutes per day. Let's get into that and more right now.

Hey there, traders! It's Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 541.

How anyone can make hundreds or thousands of dollars per trade.

So today I want to share with you how you, anybody it doesn't matter where you live in the world can make hundreds, if not thousands of dollars on a single trade. That takes you just minutes per day of chart time to see and to take.

It's a really exciting opportunity that Forex offers. And the important thing for me is as a trader, I like to have high probability trades. You see, it's not so much by how many trades you take. It's about the quality of the trades.

Trade with the trend.

Now you've probably, if you've been trading for any length of time, heard the phrase about trading with the trend and it's a fairly logical phrase and expression because it makes sense, doesn't it?

If the market's in a big uptrend that you should be taking buy trades. However, it's not quite as easy as that. And the trouble is a lot of people see a big trend and then they go, it's in an uptrend. I'm going to take it buy trade. And of course the market hits a high, turns around and stops and they take a loss.

That is the danger that most people are reactionary and only see it's an uptrend after it's already done and completed and it's back to then turn back the other way.

Reversals and Continuation candle patterns.

For me as a trader, I trade two different patterns. I trade reversal patterns, which does mean selling at the top of an uptrend. But my favorite and preferred pattern is a Continuation Pattern.

Now, I'm going to give you two examples from just this week of continuation patterns. So you can go and have a look at your charts. If you're watching, YouTube will probably put these on screen so you can see them. Obviously, if you're on a podcast, then you just have to go and find them on your charts. But two trades to give great examples of what I mean by continuation patterns, both profitable trades for us this week.

AUD/CHF H12 chart hits profit.

The first is a 12 hour chart trade on the AUD/CHF. If you go and have a look at the AUD/CHF from the 18th of March 2024, look at the 00:00 candle. So it's the completion of that candle, which means that the day starts at 5 p.m. New York time, but it means that that candle then closes at 5 a.m. New York time.

So have a look at the charts. The 00:00 Opening Candle, The AUD/CHF 12 Hour chart 18th of March 2024. Go and have a look at that pattern and hopefully we'll get that screenshot put on here so you can see if you're viewing the video. We took a buy trade there. What happened? The market moved up, it pulled back, we waited for it to pull back and then we waited for a confirmation signal to go long again, trading in the main direction.

But after that pullback and as you can see, we took a really good trade there. And even on a small account,