Podcast:

Discover how learning to trade Forex is no different from learning how to fly a helicopter.

In this video:

00:21     Similarities between learning how to trade Forex and to fly a helicopter

04:18     The importance of enjoyment in what you do

06:24     Most pairs have moved 100-150 pips

Did you know the learning to trade Forex is no different from learning how to fly a helicopter? Let me share more with you right now. 

Hello it’s Andrew Mitchem here the Forex Trading Coach and today is Friday the 9th of May. That’s right I want to give you an analogy between the similarities between learning how to trade Forex and learning how to fly a helicopter. Around 10 years ago I started learning to trade Forex, and it took a number of years and right now I’m about a third of the way through my private pilot license learning how to fly a helicopter. I want to go through and to share some of the experiences of what I’m going through right now and how that can help you learn your trading which is something that I’m still doing but something that I started a long, long time ago. 

So learning to fly a helicopter, for me it’s a big dream that I’ve always wanted to do and at Christmas my wife got me a lesson to learn to fly and right now I’m sort of flying once or twice a week on the way to having a private pilot’s license.

Similarities between learning how to trade Forex and to fly a helicopter

So how can that help us? Well it’s a dream of mine so for many people learning how to trade Forex successfully and either traveling around the world with their laptop trading or trading from home with your family and your children around it’s a dream also and both of them can be achieved but like everything anything that is good, it takes a lot of hard work and dedication. Now I’m finding with a helicopter it takes a lot of my time, it takes a lot of dedication. There’s a huge amount of information to learn most of which I have no idea I would need. I’m opening myself to a whole new world of terminologies, of different experiences and there’s a lot more than I actually thought will be involved and again trading is no different. There’s a whole new world out there to learn when you want to become a Forex trader.

Now the other thing that’s similar is that it’s not only that takes a lot of dedication you put it best to find yourself a really good instructor or really good coach. I’m not just saying that because I coach Forex, you can go to anybody who you choose to. I’m just one of a number of people who would be good to learn from but with my helicopter license I’ve gone to the best instructor that I can find because at the end of the day I’m up there flying around in the sky and I want to learn the best way that I can from the best persons so learning to find to Forex Coach and to trade properly again is no different.

The importance of enjoyment in what you do

Experiences; well I go from absolute exhilaration and joy through to fear, scared, terror sometimes, very nervous sometimes, very hesitant sometimes and then again back to being just the best thing I can do and huge smiles from my face. And you go through different emotions and I have a very good days of flying and some not so good days and exactly the same with trading you go through that you will suddenly makes some money and you just have that exhilaration and that joy you would then suddenly becomes frustrated, you will become disappointed, you will become frustrated again, you make some more money you will then go backwards again and you’re going around and around in a never ending circle or so it seems. 

However when you look back on it it’s amazing how much you do actually grow and develop and it’s also i...