In this video:

How are you going to ensure that 2025 becomes a fantastic trading year for you? What are you going to do to make that happen? Let’s discuss that and more right now.

Hey there, Traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 573.

Setting your trading goals for 2025.

First video on podcast for 2025. So the obvious thing that everybody talks about at the beginning of the year is New Years Resolutions, setting goals, all those type of things. Now I’m kind of going to talk about that, but I also want to make it realistic.

You see, I’ve sent out an email just yesterday talking about why people quit their New Year’s resolutions, and already by mid January, most people are given up on diets and gyms and all these things they said they were going to do. So it’s no good discussing that. Because realistically, some of those things are just not going to be achievable and you’ve probably already given up by now. So I’m a realistic, I like practical, realistic things, achievable goals.

What are you going to do to become successful this year?

So what is it that you are going to do to make sure that this year becomes a great trading year for you? What have you got written down? What have you set in place? What did you discuss with other people to ensure that with your trading, do you have the knowledge, the experience, the strategy, the support, to know what you’re doing?

Do you know, realistically, when you can trade, practically, when you can trade, how is it going to fit in with what you do, your lifestyle, your family commitments, sporting, music, work, whatever it is that you have going on in your life? So that’s how we get to the end of this year. You can look back and go, yeah, look, I pretty much stuck to my trading plan because I set realistic expectations at the beginning of the year when I can trade what markets I’m going to trade, what timeframes I’m going to look at, what type of patterns or in news events.

If you’re a fundamental trader, what am I trading to make it real? What’s my risk going to be? How many trades would I have open maximum at any one time. What am I realistic? Drawdown expectations. My profit expectations? Am I going to invest in myself? Am I going to invest in education? Have I already done that? If I’ve done that, have I actually followed through with that information and learned it properly?

Or I just sort of glossed over it last year, not really giving it a good shot. All those things you need to decide for yourself, but make it real.

Trading in less than 30 minutes a day.   

That’s why I say that we can trade in 30 minutes or less per day, because it’s something that’s realistically achievable, it’s enjoyable and it can be achieved by anybody. Doesn’t matter where they live in the world or what their other commitments are.

You can trade once a day at 5 p.m. New York time. You don’t even need to be there, by the way. We’ve got clients in 108 countries. Of course, not everybody can be on at that time. So that’s why we use limit orders as well. We make it real. We make it, something that is achievable to everybody.

So if you’d like to find out more about how we can do that, I can help you with that as well.

When to look at the charts and what time frame charts to trade.

But the other thing you need to know is when are you going to look at a chart, you know, and what risk it’s taking. All these things need to come into your plan. Are you on a demo account?

Have you been profitable on a demo account? Are you want to live or you want a mixture? Have you proven yourself on a small live account? And maybe your next goal is a prop firm. And with the prop then are you realistic about how you’re going to achieve results on that? Now to give you some examples.

Trading on large prop firms.

Now we’ve got people who are looking at trading $1 million prop firm accounts this year and beyond. You’ll notice that some prop firm companies offer up to $2 million. But let’s say for, you know, number, it takes two months for our clients to pass that $1 million prop firm account and make 10% on that account. Now, obviously, 10% on $1 million is $100,000. They’re on an 80/20 profit share, let’s say. That means $80,000 for them when they make that 10% gain on that prop for $1 million account.

Now, if you’re sitting there every two, three, sometimes one month with a 10% gain and making $80,000 per time, do you think that they going to worry that they spent $2,000 with me a few years ago and learned my strategy and system, and have turned up to webinars and forums and watched daily trades and videos, etc.

Investing in yourself up front.

So they put in a bit of effort and time and monetary commitment. At the beginning. And now they could be potentially earning, you know, $80,000 every few months. So you’ve got to look at that as well and go, wow, that’s a great return. Of course, it is an absolute no brainer. Why wouldn’t you do it? But also you got to realize that for a few months, years, some of those people have just earned small amounts of money or just demo money.

Another reaping the rewards. So you’ve got to be realistic about what stage of the process and the journey you are at. But it all comes back to the very basics of understanding money management, a good strategy, and some support and help around you. Now that’s where we can help.

Our 16th year of coaching.

Of course. We are entering our 16th year at The Forex Trading Coach. I don’t believe there’s hardly anybody around today who was around back then in the educational field. So the strategy is not changed. The people on board have not changed. Everything remains, constant because it works.

17 minutes Masterclass and Book a Call.

And if you’d like to find out more about how we trade and teach and can help you, have a look at my free on-demand masterclass.

If you’ve been on that and you’d like to know more, and you’d like to potentially look at joining us, let me know and I can send you some more details.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a good, broker to trade through, I can highly recommend Blueberry Markets. And I’ll put a link to them as well.

Comments, Like & Subscribe

So have yourself a great 2025. Make sure you do commit to some realistic goals and expectations. If you need help with that, contact me [email protected]. Be glad to help you. I see this time next week. Bye for now.