Podcast:

In this video:

01:14  A 2.4 percent account gain just on one trade

02:32  Good news out of New Zealand all week

04:15  New chapter of my eBook has been released

I’ve got a trade open right now on the charts that’s a 4.8 to 1 risk to reward trade.  So, with a one percent risk, that’s a 2.4 percent gain on my account.  I’ll share more details about that trade right now.

Hi, traders, its Andrew Mitchem here, the Forex Trading Coach, welcome along to this weekly video and podcast.  And today is the last day of February, it’s the 28th today.  I want to share with you some information regarding a trade that I’ve suggested to my clients today, and I have it open on my Live account right now, so if you’re watching the video, you can see it behind; if you’re listening to the podcast, I’ll just explain about the trade.

Trade open at 4.8:1 Reward:Risk on the GBP/NZD

So right behind me here you can probably see that I’ve got a big red bearish candle on the most up-to-date candle; that’s a GBP/NZD chart, and the trade right now is up 116 pips, and it has a stop loss of 24 pips.  Now that’s giving me a massive 4.8 to 1 reward to risk.  And so as I mentioned at the intro, with a one percent gain, that’s a 2.4 percent account gain, just on that one trade, and that trade took me probably thirty seconds to put on my charts today; it’s still open, I haven’t closed it yet, but it’s looking really, really good.  And that all ties into yet again, the charts are pointing the way, the charts are showing us where the fundamentals are likely to be heading.  And I’ve mentioned this quite a number of times recently on these videos and podcasts, and yet again the same thing is showing, and it’s happening right now.

If I lean over the other side here, you can see the NZD/USD climbing nicely; I’ve got a buy trade on that.  That particular trade is up around 60 pips with a 25 pip stop loss, so just over a 2 to 1 risk to reward on that open trade.  And those two trades that I’ve mentioned are both mentioned to my clients with the exact entry points, the exact exit points, and the reasons for taking the trade.  So, just with those two, you know, with a half a percent risk even, that’s still several percent on your account in one day.  And of course, the trades have still got a little way further to go before they get to their full profit target.  So, it just shows what can be achieved.  Now, these are both on the daily charts, so both very profitable trades.

Excellent Fundamental News out of New Zealand - Again

But looking at the fundamentals, there’s been good news out of New Zealand all week, yet again.  The technicals have been showing that all week, I've been bullish on the New Zealand dollar, for pretty much the whole week, and I’ve mentioned that on my posts on my site to my clients and on Forex Peace Army, so you can go back and look at those, that information that I’ve been looking at on the Kiwi dollar.  

The trade balance figures that have come out of New Zealand this week, they are thirty percent higher than the expected, so it’s a massive increase. We've just had today, the business conference news has come out, it’s the highest level within the business sector since 1994; that's twenty years, it’s the highest level the business conference figures that have come out just today, the highest in twenty years.  The job expectancy, so companies and their expectancy for hiring new staff heading into the rest of the year, it’s the highest since 1992.  The dairy farmers have just set up payouts, so everything is going really well, and all this is doing is giving positive news for the New Zealand econ...