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In this video:

Andrew Mitchem:

Last week, I put some questions to our database and we’ve had some fantastic replies. We’re going to interview Ben Clay at Blueberry Markets and find out how Blueberry can help you as a forex trader. Let’s get into that and more right now.

Hi everybody. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 479.

I’m joined by Ben Clay at Blueberry Markets

We are very lucky today to be joined by Ben Clay, who’s the partners manager over at Blueberry Markets. Welcome along Ben. Ben, how are you?

Ben Clay:

Thank you. Very well, Andrew. Always a pleasure to be here. Thanks for having me again.

Andrew Mitchem:

Awesome. Well, just to recap, last week I sent an email out to our database asking for people to come through with a group of questions, knowing that I was going to interview you this week and to be able to put those questions to you. So, thank you very much for helping out with these questions that we have to ask you.

So first one is from Steve, and Steve says he’s never opened an account before. What is the process, and how complicated is it to set one up?

Q #1 – Opening an account

Ben Clay:

Yep, pretty straightforward. The application itself takes three to four minutes to complete on our website, and then you just need to upload the ID documents that it will request. Typically one government issued photo ID and then a proof of address that was issued in the last 90 days. And you can upload all that in the portal. The account’s typically open within a few hours, or 24 hours or so.

Andrew Mitchem:

Cool. So pretty straightforward, really. In terms of opening a demo, how’s that been?

Ben Clay:

That’s basically the same. You would do that straight on our website. There’s a section there that just says “Open a demo account.” That’s a lot faster. Obviously, you don’t need to upload any ID documents. But there’ll be two buttons on our website. “Open a demo account,” “open a live account,” and you can follow the steps there. And you can get demo accounts up and running within the client portal as well.

Andrew Mitchem:

Okay, awesome. No, I hope that answers that one for you, Steve.

Q #2 – Methods to fund an account

We have a question here from Gidivo, and it’s regarding funding the accounts. And this specific question was about can I fund on a MasterCard credit card and fund and withdraw that way? Because in some countries that’s possibly a little bit easier than going through online banking system. Can you let us know what sort of different ways someone can fund and also withdraw?

Ben Clay:

Absolutely. So MasterCard and Visa is completely fine. That’s probably the most common deposit method and withdrawal method we see. Typically, when you’re using a MasterCard or Visa to deposit, you would fund the initial amounts with Visa or MasterCard, and then withdraw that same amount back to the Visa or MasterCard. And then any profits can typically be sent via bank wire. We also accept crypto deposits if you have a US dollar denominated account, as well as bank wire, Scrille, Nettella. We had PayPal for some countries. Here in Australia, we have BPay and Poly Pay, as well as a few other additional methods as well.

Andrew Mitchem:

Wow. So quite a few. Now, just to help out with that, if you put funds across on let’s say MasterCard, do they have to come back via MasterCard? You can’t put funds across and start an account with MasterCard, and then withdraw it to a PayPal account? Or can you?

Ben Clay:

That’s correct, yeah. The funds typically have to be sent back to the same method of deposit, just for global anti-money laundering laws. And this is usually pretty uniform across most brokers.

Andrew Mitchem:

Yeah, yeah. No, I understand. Fair enough.

Q #3 – Banks having issues with opening a trading account

And a similar kind of question, we’ve had a question here from Salman, who says he’s in the past had issues with his bank. I’m not sure where Salman lives, but in terms of being able to put deposits through to a broker and the bank having potential issues with that, can you elaborate on that?

Ben Clay:

That’s an interesting one. Typically, the bank might reach out to the clients if they have made a deposit to check if they do want to make the transfer. It’s good and bad, I guess you could say. Good in the sense that they are usually just looking out to protect you to make sure that you are sending funds to a reputable company. So obviously, always make sure that you are sending funds to a broker that’s regulated and has a decent reputation and has been around for a little while, and funds are going to be held in a segregated accounts. But at the end of the day, they are your funds. So it’s not necessarily the bank’s business what you’re doing with those funds and you should be able to send them wherever you like. But it is a protection thing at the end of the day that banks will do. So sending to Blueberry Markets shouldn’t be an issue whatsoever, as we are regulated in multiple regions.

Andrew Mitchem:

Yeah, no, cool. Perfect. Thank you for that. I hope that helps for you Salman.

Q #4 – What’s the smallest account size?

Next question from Felix. Felix says, I’d like to know how much I can deposit to start with. So I suppose this is more a general newbies question. Once they go from demo, they get into live, maybe you could elaborate on account sizes, different account types, possibly, as well.

Ben Clay:

Yeah, sure. So as a beginner, I mean start with $100. That’s the minimum. Start with the minimum amount, especially if it is your very first live trade. If you’re going from demo to live, there is a very big difference in psychology. On the demo account, obviously there’s zero risk. You’re not concerned about the losses of trades. Whereas when you start with $100, you don’t even want to lose 10 cents on that account.

So start small. Start with the smallest lot sizes, even with $100 you can do micro lots and still give yourself a bit of free margins to play with. So definitely start small while you’re dipping your toes in. And then as you build your confidence up, you can start adding funds to the accounts.

And we have two different account types here at Blueberry. We have our standard and our direct account. The standard account is just going to have our regular spreads with no commission when it comes to currencies.

Andrew Mitchem:

Right.

Ben Clay:

It’s probably a good way to start, because you don’t have to worry about the commission charge, you’re just looking at the spread. And as soon as you paid off that spread, you’re in profit. Then the direct account goes from $1000 or more is what you can start with. That carries a $7 per lot commission when you’re talking about currencies. And we’ll have a reduced spread. So basically our raw spread direct what we get from our pricing providers.

Andrew Mitchem:

I mean, from my personal point of view, I think that once you’ve been trading for a while, you should get onto the… I personally prefer the commission account once you know what you’re doing, just because that nice tight spreads all the time. But yeah.

Ben Clay:

Yes.

Andrew Mitchem:

So beginning go the other way. Just pay the spread, and possibly a little bit more experience. Then go the commission route.

Ben Clay:

Exactly right. And it all comes down to preference, as well, at the end of the day. Whatever you’re comfortable with, whatever you’re comfortable with trading on. And unlike you, I prefer the other direct account at the end of the day.

Andrew Mitchem:

Yeah, no, fair enough. The nice thing is you have both.

Ben Clay:

Got both options, yeah.

Q #5 – Making a request for something different from Blueberry Markets

Andrew Mitchem:

Question here from Scott. And Scott says that he would like to have a demo account based in New Zealand dollars. I’m guessing he lives here in New Zealand, but he didn’t find that available. Is that something that you could set up if people have a request for different types of demo or even possibly live account denominations?

Ben Clay:

Absolutely. We do have Kiwi dollar based live accounts, but Scott, I’ll get that set up today for you. So you can have Kiwi dollar accounts on MT4 or MT5. I’ll make sure that’s done today.

Andrew Mitchem:

Awesome. And that’s why I love working with you guys, because you make things happen. It’s fantastic. It’s really good. You wouldn’t find many brokers do that.

Q #6 – New markets available to trade

Tim asks, are you looking at adding more markets to your MT4 or MT5 platforms? Either, I’m guessing more potentially forex pairs or others, cryptos, commodities, indices?

Ben Clay:

Yeah, absolutely. We’re always looking to build out our product range. We’re going to have some relatively large changes coming in the next couple of months, which we’ll keep all our clients posted about. But as a sneak peek, there’s going to be a lot more individual shares available, hundreds more.

Andrew Mitchem:

Right.

Ben Clay:

So we’ll be letting everyone know about that. We’re very, very excited about that. But as I said, we’re always looking to do what our clients are looking for. So if there’s any particular product that you’re looking for, reach out to us and we’ll look to see what we can do to have it added.

Andrew Mitchem:

See if you can get them added. Is there any difference between the MT4 and MT5 platform in terms of, is it now easier to add more markets to MT5?

Ben Clay:

Yeah, so MT5 typically has the ability to have a lot larger range of products, where MT4 is still relatively limited. It’s gotten a bit better, but MT5 is always going to be the platform that’s going to have a much broader range of products.

Q #7 – How secure are my funds if I don’t live in Australia?

Andrew Mitchem:

Yeah, no, cool. And last question here, this comes from Meg. Meg says, how secure are my funds with Blueberry Markets if I don’t live in Australia?

Ben Clay:

Great question. That’s one that she’d ask any broker you’re trading with. Absolutely. All our funds are held here in Australia in segregated accounts, in either Commonwealth Bank accounts or National Australia Bank accounts. So they’re two of the big four banks here in Australia. So no matter where you’re based in the world, that’s where your funds are held at the moment. And always segregated away from company operating funds. So in other words, Blueberry can’t touch those funds. If anything were to happen to us, the client funds stays segregated away from company operating day to day.

Andrew Mitchem:

Yeah, that’s massively important. Because on a personal level, I’m still waiting on funds from another broker that happened about probably three years ago, and we’re still only 50% back. So having that segregation’s massive.

Ben Clay:

It also goes back to always my point about trading with regulator brokers as well. The fact that we have regulation here in Australia means that there’s very strict guidelines that we have to abide by.

Andrew Mitchem:

Yeah, awesome. That’s fantastic. Ben, that’s covered the questions that have come through.

Contacting Ben Clay directly at [email protected] 

How would someone find you, contact you? What’s the next step if someone’s either thinking of starting forex for the first time or switching from an existing broker?

Ben Clay:

Yeah, awesome question. So blueberrymarkets.com is the easiest place to come find us. Andrew, you can post my email in the description.

Andrew Mitchem:

Yes.

Ben Clay:

Of the podcast. Anyone, feel free to reach out directly to me. I’m always available. I work very, very hard to make sure that my clients are satisfied, as does everyone here in our team. We have 24/7 live chat. And that’s on weekends, with targets for every single chat to be answered within 30 seconds.

Andrew Mitchem:

Wow.

Ben Clay:

So reach out to us, ask us questions. We’re always here.

Andrew Mitchem:

Awesome. Ben, I can vouge for that, because I know every time I email you I always get an answer really, really quick and it’s fantastic to see that hugely dedicated service. So it definitely helps with everybody’s trust and credibility. And I’ve been with you guys, pretty sure since the beginning, or very close to it, and always recommend you guys, because I know that the feedback that I get from my clients who go with you is always exceptional.

So thanks for your time today on this video and podcast. As mentioned, I will put a link through to Blueberry Markets and I’ll put Ben’s personal Blueberry email address on the linked description as well. So thank you, Ben, and look forward to catching up with you another time.

Ben Clay:

Thanks very much, Andrew. Always an absolute pleasure.

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In this video:

I’m going to explain why we look at multiple time frame charts each day. Let’s talk about that and more, right now.

Hey there, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 478.

How looking at different time frame charts will help your trading

I want to explain why we look at different time frame charts and how it can really help you with your trading. This week’s a really good example, and this week we haven’t had a great deal happening on the longer time frame charts. We had no weekly chart trades, which is quite unusual. On Monday and again today, being Friday, we’ve had no daily chart trades. On Tuesday and Wednesday, we only had one daily chart trade, and on Thursday we had four. And of course, you cannot tell in advance what’s happening and why and what the market’s going to do.

If we had focused on 1 time frame chart

So if we had just focused purely on the daily charts this week and the weekly charts, we’d have had just six trades. However, we look at other time frame charts as well. But it doesn’t mean to say that you are taking lots and lots of time to do that because if you can trade once a day and have a look at the charts when the daily charts close, you can also look at the 12 hour charts, the eight hour and the six hour. That’s at 5:00 PM New York time. If you can also look at 5:00 AM New York time or any time after that, you can also look at two hour, four hour, six hour and 12 hour charts. And so because we take trades only at the close of a candle, I can quite easily trade once or just twice a day. It takes a maximum of 30 minutes to go through all those different time frame charts and give ourselves more trade setups.

Now, if you’re the sort of person that trades just one hour charts or just 15 minute charts or just daily charts, you are really limiting yourself because you don’t know what the market conditions are going to be. And that becomes quite a, not so much dangerous, but limiting factor on your trading.

More trade examples

So, some more examples. This week at the Wednesday, 5:00 AM time frame changeover, I’m on our forum site at that time. I posted five trades, two of them on the 12 hour charts and three of them on the six hour charts. Out of those five trades, four out of the five have been profitable, one’s still in and it’s in slight profit. So, so far we’re a hundred percent profitable success. One trade’s still to go on the 12 hour chart.

More successful trades on my live weekly webinar

And then last night, my time, on our live weekly European session webinar, which I hold, next week’s a US session webinar with Paul over in America, but I held the European session webinar last night, my time, European morning. And on that session I took two trades on the two hour charts. We took a New Zealand Swiss Franc two hour chart trade, which was very profitable, made a three to one reward to risk. Fantastic trade, hit the profit target in two candles or four hours. And I had a losing trade on the two hour US oil. So although one was profitable, the other lost, we’re still massively up because of our high reward to risk. But both of those were two hour charts.

I also took a four hour chart trade on the Australian Yen, and I took a six hour chart trade on the Euro Yen. Both were profitable, so three out of four profitable trades.

A higher probability of overall success

So it just goes to show, by looking at multiple time frame charts, you’re giving yourself a higher number of trades, a higher probability of success because you can fine tune to find the highest quality trade setup. So it’s really important that you don’t just limit yourself to just a handful of currency pairs or just one or two time frame charts. Be flexible because you have to be flexible because you don’t know what the market’s going to give you at that time. So, I hope that helps as a good lesson.

I’ll be interviewing Ben Clay at Blueberry Markets

Now next week, instead of making a video and podcast like this, I’m going to be interviewing Ben Clay at Blueberry Markets, and I’d like to offer you an opportunity to ask some questions to Ben and I can ask those questions on your behalf. So if you have any questions that you’d like to ask Ben at Blueberry Markets, about anything to do with trading or anything to do with brokerage, about them, about why they think they are a good broker, about anything, the way they operate, their history, anything at all to do with Blueberry Markets or anything to do with a broker in general, send me an email early next week to [email protected]. In fact, you’ll get this on your Sunday or Monday depending on where you live in the world.

If you can send me an email within the next 24 hours or so, would be fantastic, with your question for me, or questions for me, to ask on your behalf to Ben at Blueberry Markets. Next week I’ll be making a weekly video and podcast just like this, but it will be the live interview of Ben. I’d love to ask some questions on your behalf, things you’ve always wanted to ask a broker but maybe didn’t know or didn’t know who to ask. This is your opportunity. Send it through [email protected] and I’ll ask that for you next week.

Have a great weekend. Bye for now.

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In this video:

I’m going to talk about how you can train like the mighty New Zealand All Blacks and how you can be successful as a trader just like they are in world rugby. Let’s talk about that a more right now.

Hey there traders, it’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 477.

I’ve been watching the New Zealand All Blacks train

I’ve just been with my youngest daughter, Amber, to watch the mighty New Zealand all Black team train here in Nelson. They did an open training session this morning where everybody could go along and watch their final training before next week. They head off to Japan for the start of their Northern Hemisphere winter tour over there and then over to Britain. And I think they’re playing Scotland and Ireland and France and Wales. Great to see them, but from what I got out of it is to see how well oiled they are. A fantastic working machine that has proven success and also a machine that looks after the player welfare. So I’ll come back to All Blacks shortly.

Trader getting burnt out

I received an email this week from a trader who’s not a client over in the UK, and he was talking about burnout. And he was saying, Look, Andrew, why is it that you are still trading? What is it that you do differently to me, because I’m just getting exhausted. I’m burnt out. I’m that FOMO. He’s getting FOMO, the fear of missing out. He’s scared to leave charts, he’s fearful that he’s going to miss trades, all that type of stuff going on in his head. And I said to him, Look, well, before I can really help you, tell me how you are trading right now. And he came back and he said he’s trading a mixture of five minute charts and news trading.

So he is trading European mornings, he’s trading the US time, he’s looking for high impact news events. He’s stressed about being there. When do you put a trade on? When do you take it off? Looking at five minute charts all the time. And so it’s just constantly, it’s like a hamster going round on a wheel, it’s just never ending.

Watch last week’s video where I shared by trading day

And I said to him, Well, first of all, go and have a look at my video from last week. If you haven’t seen the video on podcast or listened to a video on podcast number 476. Last week, I shared with you a trading day when I traded just twice a day. And by the way, those trades did really well and I took you for a flight in my helicopter. So which would you rather be? Would you rather be just looking at your charts twice a day, taking trades and doing really well with low risk and low stress and doing things that you enjoy, or would you rather just sit there just, not quite 24 hours a day, but getting close. Like this guy in the UK. He’s just sitting, just lethargic, just not getting out and doing stuff, and the trading’s just taking over his life and it’s becoming a nightmare.

Watch last week’s video where I shared by trading day

So very easily, I was then able to suggest to him, he gets onto longer timeframe charts and gets a strategy that works, et cetera. That’s proven and it continues to work, and it looks after you as a trader.

So, I bring that them back to what I saw this morning with the All Blacks, you go in there, everything’s set up, it’s perfect. There’s all the training guys, the gear, the cameras, the drones, the players turn up, they do their warmups, they get into a little bit more intense work, some exercises, tennis balls come out for hand eye coordination. It gets a little bit harder, a little bit faster. And they have a system that works.

And that’s no accident that it works. And there’s no accident that the All Blacks have been one of the most successful sports teams of any sport anywhere on the planet in history and continue to be so, because their system of the training, the way that they play, the way that they bring new people through, the way that they support each other, the way that they’ve got the doctors, the medical people, they’ve got all the physios, they’ve got the fitness guys, they’ve got the dieticians, they’ve got, the whole thing is just run like clockwork. It’s very, very impressive to see.

The system makes life easier for the players

And so when the players come to do their job, which is the entertaining, and they’re throwing the ball around, it works because the system works. And you think about how you can become a successful trader like the All Blacks and continue to do it, not just a one hit wonder. These guys have been doing it since rugby started. They’ve been the best in the world. And so there’s a reason for that. And you bring that to your trading. And if you have a proven strategy that’s enjoyable, you’ve got people around you, you’ve got a system in place to safeguard you with low risk and high quality outcomes, you’ll get high probability trades and you’ll get good results. No different to the All Blacks.

Where you can find high quality training

So if you’d like to learn how to train and trade with the success of the All Blacks as a Forex trader, and also looking at your commodities, indices, cryptos, you know where to find us here at the Forex Training Coach. We’ve been doing this for 13 and a half years, and we have clients in 101 countries. Like the All Blacks, what we do is proven to be successful.

Looking for a good broker?

So if you’re looking for a broker, have a look at Blueberry Markets. This week I’ve had five other brokers contact me by email and LinkedIn. I turned them all down because all they’re after is just, how many people can you bring us? And that’s not what I’m about. I’m about suggesting that you look at a broker like Blueberry Markets, if you’re out there in the market looking for a new broker because they offer quality. They’re a good broker, decent people, good platform, good spreads, everything that you’re looking for. And so I like to work with quality. It’s why I like to watch the All Blacks play and train, and it’s why I like to work with Blueberry markets.

Do you also like quality? 

So if you like quality, if you like success, and you like a proven strategy, then consider joining us here at the Forex Training Coach to take your trading to that next level. And we’re here to help.

I’ll see you this time next week. This is Andrew Mitchem, massive supporter of the New Zealand All Blacks and Forex trader. See you next week. Bye for now.

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In this video:

Today I’m going to share with you my trading day. We’re going to start here taking some trades off the daily charts very shortly. Then I’m going to take you on a helicopter flight, where I’ll be flying myself, and then I’ll be back here to trade some more tonight. Let’s get into that and more right now.

Hey there traders, this is Andrew Mitchem, here at the Forex Trading Coach, with video and podcast number 476.

Taking 5 trades on the D1, H12, H6 and H4 charts

We’ve got a real special day lined up for you today. It is coming up to about 10 to 10:00 in the morning here. The daily charts are about to change over at my 10:00 AM, which is coming up to 5:00 PM New York time. I’m going to scan through the daily charts right now, and then I’m going to go through the 12-hour, the 8-hour, and the 6-hour charts, and I’m going to come back shortly and let you know what I’m trading.

Trading done and Pre-flight done

Righty. So here we are back again, just some 20 minutes later. I’ve been through the daily charts, the 12, the 8, and the 6, on the forex and non-forex pairs. This is what I am trading today on the daily charts. I am taking a trade on the Euro Swiss Franc, and also on the pound New Zealand. So both sell trades, Euro Swiss Franc, sell pound New Zealand, sell on the Dailies. I’m also taking a H4 chart trade on silver as a buy trade, a H6 gold trade against the US and a Euro Australian H12 chart trade. So all up I have got five trades that I’m taking now, and that’s it for the morning. Next stop helicopter time.

Okay, so we’re inside. All the pre-flights are done. Everything’s all checked in here, and we’re ready to start up in the next few minutes, going for a nice flight. Little bit like trading. You do your homework, you do your due diligence, you do all your testing, and then once everything’s been thoroughly checked, you take your trades. I’ve actually just checked the gold and silver trades that I mentioned earlier, they’re going really, really well, especially the silver trade. The silver H4 forex chart’s just going tremendously well. So, really nice to see. I’ll update you once we start flying. Talk soon.

Check my trades and ready to fly home

So just had a nice couple of hours with some friends here at Awaroa, which is north of Nelson. Beautiful, very remote place here. Got a bit of a landing spot here for us. And yeah, just checked my phone. We do have reception here, so just checked the phone, see the trades are still going really well. Actually, better than when I left. So heading back now, and then I’ll come back on when we’re at home tonight, looking at the changeover of the 5:00 AM Eastern Standard Time charts. And I’ll be looking at the 2 hour, 4 hour, 6 and 12 hours, and I’ll update you on the progress of today’s trades at that stage and hopefully take a few more trades. Talk to you soon.

Flying from Nelson to Awaroa

1500 feet flying out from Nelson going to Awaroa. Good day outside. quite windy though

but nice to see we’re up flying. We are getting ready to the beach. See you soon.

An H4 trade at the 5am EST changeover

Righty. So here we are, 10:00 PM. Just taking my last trades for today. Just one trade at the 5:00 AM Eastern Standard Time, which is New York time changeover, and that is a sell trade that we’ve just taken on the Aussie Franc on the H4 chart. So let’s see how those trades go. We’ve been talking about it here on our forum site and discussing it with other clients as well. So yeah, just really great to have the amount of traders on there all looking through the charts, and I’ve been through all the forex and non-forex pairs at the changeover, at the different timeframe charts, and a lot sort of almost trades, but only that one good enough trade to take, using the criteria that we have. So I hope that helps. Trading just twice a day, it’s taken me what, less than 30 minutes in total to look through all the charts, place the trades here today.

What do we have? Five trades earlier today, one now. Let’s see how they all go. But between the trades earlier today, the flying, trades now, you can see how flexible the system is. You don’t even have to trade at these two times, by the way. It’s just the two times that I choose to trade. But you can see how you can trade, still do normal things, whether it be a normal job, career, travel, family things, whatever it might be, flying, whatever it is that you like to do, you can do that and trade, the strategy that I’ve created and teach and trade, and been doing that, teaching for 13-plus years and trading for nearly 18 years now. Wow. Hence the grey bits. But look, hope that helps.

And any questions just ask. We’re here to help and we love what we’re doing, as you can see. Thanks again. This is Andrew Mitchem at the Forex Training Coach. Bye for now.

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In this video:

Does divergence really work in the Forex market? And if so, how can you best use it? Let’s talk about that a more right now.

Hey, there Forex traders, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 475.

Using Divergence

I want to give you a really good bit of trading information here regarding the use of divergence. And you’d know that if you’ve been following me for any length of time, I use predominantly candle patterns. I look at price action, I look at support and resistance levels and strength and weakness on the charts, as that to me is the most important information. However, there is one indicator that I use of the more traditional lagging indicators, and that is the stochastic indicator. And I use that in a few ways. It helps me to determine if the price is overboard or oversold.

And what that means is if the price is going up and up and up and it’s then overbought. If I were to see a reversal pattern, that means that it’s in quite a high probability part of the chart, that the price cannot keep going up forever and therefore it’s lightly to then pull back. And I can take a potential cell position, but I also use the stochastics to help me with divergence.

The 2 types of Divergence

Now, there are two types of divergence, those regular or standard divergence, and there is what we call hidden divergence. Now, in basic terms, divergence is when, let’s say the indicator is going one way, but in reality the price is going the other. And that causes a divergence. One thing’s heading up, the other’s heading down, and you get the opposite, like the conflict going on there. So that is a divergence. Now there’s sort of more specifics that we look at than that, whether we’re looking at that happening with the lows and the price getting higher or the highs and the price getting lower, different things like that.

But in basic terms, divergence means price going one way, the indicator suggests the price should be going the other way, and then you generally get a reversal or a continuation happening. So it’s a really good early warning system for you as well.

Reversals and Continuation Patterns

So two ways of trading it for me reversals. That is when you get regular divergence with the price coming off the bottom or the upper Bollinger Band area. So in other words, the price is either oversold if it’s at the bottom Bollinger Band or overbought. If it’s at the upper Bollinger Band and stochastics are either low below the 20 or high above the 80 level. And if you get that showing, then you have yourself a high probability chance of a reversal trade. Now of course, you cannot just say, “Here’s a positive divergence signal, the market’s oversold the price is going to go up.” It’s not as simple as that.

You still need the candle pattern and you still need it to come off the right price level. Strength and weakness is always important. If you get a trend line break, have you got a good place for your stop loss, plenty of room to move for your profit target? All those things that we talk about all the time are still massively important. But by piecing together all these little parts of the jigsaw, if you can then add a divergent signal on top of everything else that you see, that to me adds more and more quality, more and more probability of success for your candle pattern and your setup that you are taking. So I really like reversal patterns and standard divergence, but I love continuation patterns with hidden divergence. And the reason for that is this, continuation patterns to me are an even higher probability, safer way of trading.

And what we’re looking for in basic terms is this. Let’s say that the price has been moving up and it’s come off the bottom Bollinger Band back towards the middle Bollinger Band, and then we get a red, a hidden divergent signal. Let me get that right. We get a hidden divergent signal off the middle Bollinger Band, and we then get the candle pattern looking like it’s heading down again. So it’s come up to the middle Bollinger Band, and then we are then looking at trading it again. So in other words, down trend pullback, looking for the down trend to continue.

Continuation Patterns are Higher Probability Trades

That continuation pattern is by far a safer pattern than looking for a big down trend. And then looking to pick the bottom and looking for that reversal. Reversals look really cool on your charts if you can pick them. They’re really good, but they are slightly higher risk.

A continuation pattern means you’re trading with the main trend, but after a pullback has already happened. And so that becomes a safer pattern.

Regular and Hidden Divergence

So two different ways of using divergence, regular divergence of the upper lower Bollinger Bands looking for reversal trades. Hidden divergence, in my opinion, are far better, safer way of trading after a pullback to the middle Bollinger Band. And then looking at writing the main trend again. Have a look at those on your chart. If you’d like more information about that, then jump onto one of my webinars to the hold for new traders or experience traders, or just jump onto the full coaching programme where we can teach you properly everything that we look for.

Blueberry Markets for MT4 and MT5

And if you’re looking for a broker to choose for a demo account to get you started or you’re ready to go to a live account, my pick is always Blueberry Markets. They have a fantastic MT4 and MT5 trading platform available. Fantastic group of people. They also have a really good client portal where you can log in and you can trade change funds between accounts, you can open new accounts, withdrawal funds. Really, really quick fund withdrawal as well. So have a look at Blueberry Markets. They’re based in Australia and they’re really, really fantastic brokerage. I’ll put link to them on this video and podcast as well for you to check at Blueberry Markets and my five star coaching programme.

So once again, this is Andrew Mitchem here at the Forex Trading Coach. Look forward to bringing you more trading tips and information next week. Bye for now.

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In this video:

Is a lack of trading capital one of your biggest problems that you face in order to become a successful trader? If that sounds like you, listen up, I’ve got some great tips and information to really help you. Hi, everybody. It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 474.

Do you lack capital to trade well?

Now, if lack of capital is one of the issues that you have as a trader, I’ve just got some great tips to help you. Because every day, I get email from people that say, “How much do I need in my trading account in order to give up my job? How much do I need in my trading account to be able to pay for your course? I don’t have enough money. If I pay for your course, it’s going to drain my existing trading account. I don’t have any extra spare cash to put into it. I’m worried that if I start off with five or 10 grand, I don’t have anything else to add. I’m worried if I start with too much even, then I’m going to lose money and I’m going to be scared and not want to trade again.”

So it’s all these kind of money-related issues going round in the heads of pretty much everybody out there looking to trade.

Control your heart and your head

Now, I always say there’s two things you need to control in your trading, one is your heart and the other is your head. You need to get both of those two under control. To do that, you need things like a strategy. You need mentorship. You need assistance, support to know what you’re doing, low-risk money management, all those type of things. But the problem is if you haven’t got enough money to start with, people feel that none of that matters, whereas in reality, it should be the opposite.

Learn how to trade first

You see, to me, the most important thing right now for you to do is to learn how to trade. Your account size today, how much money you have available of your own personal money to trade within your account right now or even to look at adding to your account is completely and utterly irrelevant. It has almost zero bearing on whether you can learn how to trade properly.

You see, you flip it the other way around. You could come to me and go, “Andrew, I’ve got a million dollars. Send in my account and I’m ready to start trading. I’m a multi multimillionaire. I’m just going to throw a million dollars at it and see what happens.” You can guarantee that that person is also going to lose money, lose confidence, and give up trading. So it really doesn’t matter if a thousand dollars is a massive amount to you or a million dollars is a tiny amount, does not matter one little bit unless you know how to trade properly. So that’s why I say you this, the size of your account, the size of your capital, your wealth, all of that is completely and utterly irrelevant unless you know what you’re doing and how to trade.

Understanding the markets

So it comes down to understanding the market, knowing what to look for, and trading properly. Because you see, a lot of people go, “Andrew, you talk about a half percent risk. I’ve got a thousand-dollar account. That’s $5 I’m risking per trade and I might be making $10, $15. That’s not enough to live on.” Again, completely and utterly irrelevant. It does not matter today. The thing that you have to learn to do is to learn how to trade properly, consistent with low drawdown and high consistency, high reward to risk trades. If you can do that properly first, then you can make money from trading.

Going to University

Think of the learning process as like going to university. Think of it like an apprenticeship. You’re not doing those things. You’re not at uni and you’re not on an apprenticeship to be your end goal and to make all your money right then. You’re there to learn the steps to learn the process in order to better yourself to then fast-track yourself to be able to jump into that career or higher paying job or whatever it is that you are doing those skills or that learning for. Trading is no different.

Get yourself into Prop firm trading

How you can get there with trading is once you know what you’re doing, you can get into things like prop firms. Now, to give you an example, we’ve got one of our clients on a prop firm. He’s been doing it for about a year now. He’s up to $750,000 in just one account. He’s got multiple prop firms going by the way, but his biggest account is $750,000. If he can make a 10% gain on that account within the drawdown parameters that the prop firm have, that means he makes $75,000 US on that account. It’s not even his money. He’s on an 80/20 profit share, which means that if he makes the 10% gain or $75,000, he then is on 80% of that, which is $60,000 to him from just the one prop firm. Now sure he has taken some time to get to that stage and prior to that, he’s taken some time to learn the course, the strategy, the programme that I teach to get to that stage where he can then start at the prop firm.

It’s not a get rich quick scheme. It’s not going to fix everything in two minutes. You have to still go through the steps in order to get towards being good enough to go to a prop firm, but it just shows you that when you are good enough and you know what you’re doing, you can outsource your skills to things like prop firms, signal companies, whatever it is you want to go through. Prop firms is probably one of the best and easiest ways of gaining a large consistent return with someone else’s money, but again, you have to know what you’re doing first. You got to walk before you can run. But isn’t that incredibly exciting that once you’ve developed the skills, there are multiple ways out there for you to gain massive monthly returns and income without actually worrying about whether I’ve got $5,000 or $1,000 or a million dollars today. It does not matter.

So you can see the relevance of your account today, the size of your account right now, completely irrelevant. Learn how to trade first.

Blueberry Markets

If you’re looking at a broker to put any amount of funds through, start on a demo, work up some live accounts. Blueberry Markets, I can highly recommend them. I’ve been with them for years and years. I talk about them every week. Why? Because they’re good. They offer incredible customer service, great trading platforms, the MT4 and MT5 platform. Their MT5 platform has multiple markets, very, very tight, low spreads all throughout the day and night. I highly recommend them. I put a link to Blueberry Markets here as well.

The Successful Trader System 

And also, I put a link to my five-star rated Forex coaching programme, the Successful Trader System, which has been running for over 13 years and helping traders right around the world just like you learn how to trade, understand what they’re doing, and then take it big once they know what they’re doing. Any questions? Send me an email, andrew@theforextradingcoach. If you have any topics or conversations or trading information you’d like me to discuss on future videos and podcasts just like this, just send me an email. If you’re watching, don’t forget to like and subscribe. Thanks again. See you next week.

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In this video:

Are you waiting for your government to save you? Are you waiting to win the lottery? Are you ready to win on the horses? Or are you ready to leave that whole mindset behind and do something to look after yourself and protect your future? Let’s talk about that more right now. Hey there traders. It’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 473. Come outside again today, such a beautiful day. Couldn’t film inside at the charts.

A quote from Robert Kiyosaki

I wanted to read something for you and it’s come from someone who I’ve followed for years and years. You probably know him, a guy called Robert Kiyosaki, who wrote the Rich Dad, Poor Dad books, someone that I followed years ago and I credit a lot of the way that I think and finances, et cetera, to Robert Kiyosaki. So I’d like to read this. I haven’t asked for permission for this. This is just something he’s emailed through to his list of which I’m one of, so I’m going to read it out for you anyway, and I think it’s really relevant for us as Forex Traders. So here we go.

It’s a good time to be alive

Robert says, “We are all being bombarded with bad news, bad advice, and people telling us how bad things are. I don’t buy it. I’m tired of it. The media and the governments of the world are telling people that we need to be saved. I even feel they’re trying to control me. I’d like to offer a different mindset for you. Yes, we’ve all had challenges, but I’m optimistic, and I think this is a great time to be alive. And instead of telling you to wait for the government to save you, it’s time to save yourself. There has never been a more important time for you to stop wanting or waiting on the government or your employer or others to provide for you or your family and your financial future. They can’t save you. They won’t save you, and the truth is no one cares about your financial future like you do, or you should do. It’s time to save yourself. You know it and I know it. Take control of your financial future, get yourself educated, surround yourself for people who are doing the same thing and leave the victim mindset behind.” And I read that and I thought that’s such a short but powerful and true statement.

Wanting more handouts

The victim mentality and mindset’s everywhere. People were just after more and more handouts from governments. They think the government’s going to save them. They think they’ve done that with the health over the last two years. No, they haven’t. They think you’re going to get payouts from them. No, it’s your money after all. Everybody who’s paid taxes pays into it. All they’re doing is creating debt. If you think that some government retirement scheme or anything like that’s going to protect you, who knows by the time that we get to retire, there may not even be retirement funds. Some countries there aren’t anyway.

So what he said there is absolute truth. No one cares about your finances. You do and you should do, but no one else really cares. No one’s going to come running and protect you. No one’s going to come giving you this sort of golden handshake or this golden payout that you might think you are due. So what are you going to do about it? And that’s what I love about Robert Kiyosaki’s mentality and the way that he’s always sort of talked and got people to think for themselves, think slightly differently, think differently from the mainstream way of thinking, the way that you probably didn’t get taught finances at school. You’ve got to think slightly differently.

Forex is a way to help you achieve cash flow

And to me, Forex is one of those ways that you can achieve that. Yes, there are other ways there’s businesses, there’s properties, there’s all sorts of other things, but Forex in terms of cash flow and the ability to not work X number of dollars for so much time offers something that a lot of other businesses don’t offer. But having said that, you have to know what to do, and his last line said, “Get yourself educated, surround yourself for people who are doing the same thing.” And that’s where I think here at the Forex Training Coach, we’re different and we help so many people because we do have a community of like-minded people all doing the same thing, all looking for the same goals, and that’s where we help each other with our forum site, with trades that we post to each other.

Trades get posted on our Forum site

I’m forever finding trades on our form site that other people have put on there during the day. And I go, “Wow, that’s a good trade. I wasn’t looking at the charts at that time.” And I go and take the trade and profit from it. And it’s like, all I did was just got notified on the forum site. So look, lots of ways that we can help you to achieve your goals and to basically be self-sufficient, educate yourself, surround yourself with like-minded people who are out there trying to achieve things. So that’s my educational piece for this week.

Blueberry Markets

And if you’re looking for a new broker, somewhere to place your funds, I can highly recommend Blueberry Markets. They’re based over in Australia. We offer the MT4 and MT5 platform. I absolutely love their MT5 platform because it offers so many more markets for us to be able to trade and take advantage of. If the Forex market’s a little bit quiet, then you’ll find that the cryptos or the indices markets have been really good. And we’ve had trades this week on copper and natural gas and some of the American indices as well as the Forex markets. So have a look at Blueberry Markets. I’ll put a link to them on this video and post. Have a great week. I’ll see next week. Bye for now.

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In this video:

Are you about to give up on the Forex market? Are you just finding that you’re frustrated, you’re wasting money, wasting time? It’s just not working. Everybody thinks you’re gambling, and you just think it’s a complete farce. It’s not for you. If that is you, this video is exactly what you need to hear. So before you quit, make sure you listen to this.

Hey there traders, it’s Andrew Mitchem here, at the Forex Trading Coach with video and podcast number 472.

Frustrated and ready to quit trading?

Now, this video is especially for you if you’ve been trading for a little while and it’s just not working. You feel like you’re wasting your money, wasting your time. You’ve done courses, you’ve been through forums, and it’s just nothing’s happening. You’re constantly going backwards, you’re losing money. I feel the frustration. I’ve been there myself. It took me four years before I finally became profitable with my own trading.

One of our traders when from quitting to profitable in 4 months

But I want to talk about a client who I was talking to just yesterday. They first contacted me back in May, just over four months ago. And at that stage, they were ready to quit. They were ready to give up. It was just a waste of their time, really. It was all these things, these promises they’d seen online. They’d been on various forums, bought expert advisors, done various courses, indicators. You name it, they’d been there and done it. Like I had, and probably if this is for you, this video, you’d know exactly how they were feeling.

They gave it one last go

And so, they decided to give it one last shot. And after talking to a client of mine who’d been with me for about a year and a half, they decided to give it a go and they came on board at the Forex Trading Coach.

And we had a catch up yesterday, and it was very pleasing to have the catch-up and just see their complete change in attitude, their change in fortunes of how things are now working out for them. Because they’ve now got a clear strategy, they belong to a group, a community. They know what to trade, they know when to trade. They have information given to them on a daily basis to actually aid them with their learning process, with specific trades that are profitable. And the change is just incredible in four months.

Profitable on a live account and soon to join a Prop firm

And with this person, the last two months, they’ve been profitable on a live account and then they’re looking at going on to a prop firm at the end of September. So probably into the first week of October, looking at going on to a prop firm challenge. And now that they’ve proven to themselves, after a month or so of demo and then a couple of months of live personal account, live trading and results, that they’re ready to go to that next level.

And the webinar was just a fantastic, just a really good catch-up, and pleasing from my point of view. But from their point of view, you just wouldn’t believe the change in how they were looking, how they were feeling, how they were just energised, ready to take on the world because their trading was suddenly now working for them.

Don’t give up without trying the TFTC approach to trading 

So if that’s you, if you feel like you’re at that stage where it’s just not working, give us a shot. Because it just happens so many times that people come to us and they go, look, this is just not working, I cannot make trading work. I think I know what I’m doing. And then after a while, they come back to us and go, look, I’ve learned more in the first day reading your course than I’ve learned in the previous however long they’ve been trading. And they finally have a strategy, they finally have an understanding of what’s happening in the market, to be able to look at the market and read what’s happening. So yeah, massive, massive change around.

I really encourage you to take a look and I’ll put a link to my five star rated coaching course. It’s been running for the last 13 plus years, so we kind of know what we’re doing by now.

Choosing a good Forex broker

If you’re looking at somewhere to go and place your funds, I can strongly recommend obviously start on demo if you are new or if you’ve been doing it for a while. Either way, have a look at Blueberry Markets. They’re a fantastic broker. They can take clients from pretty much anywhere in the world. There’s a couple of countries, including the US, who cannot trade through Blueberry. If you are in the US, have a look at OANDA. But for everybody else, Blueberry Markets are a fantastic option. MT4 and MT5, great bunch of people, and you’ll get looked after tremendously well.

So I hope that helps. This is Andrew Mitchem here at the Forex Trading Coach.

We’re here to help

Like I said, if you’re at that frustration stage, but we all have been there, we all know what it feels like, stick with it and come and just change things around and come and give us a go, because it works. See you next week.

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In this video:

What clues do we look for to suggest that a trend is about to reverse? Let’s talk about that and more right now.

Hey there, traders. It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 471.

What do we look for when looking for a reversal trade?

Want to talk about reversals today and what constitutes a good reversal, what do we look for to suggest that a reversal is about to take place.

You can use this in many different ways. You could use this, let’s say, you were in a buy trade and the market’s moving up beautifully. It hasn’t quite got to your profit target, let’s say, and you might see some form of indication that the market is about to reverse against your long or your buy position. That’s something that could help you to suggest to either get out of the trade altogether early, or maybe partially close from trade, or maybe move to stop loss. But there’s clues there that I’m going to talk about that can help protect that trade if you are already in a trade.

Getting ready for a new trade

If you’re not already in a trade and you’ve seen the market moving up and you’ve missed that trend, but all of a sudden, you now see a few clues that I’m going to mention that will help you to take a short position against that uptrend, then that is also a very good trading opportunity.

What exactly are we looking for?

What is it that we’re looking for? To start with, to make things easy, I’m going to be talking about a current uptrend and then a bearish reversal.

If we’re looking for a bearish reversal for me, I look at candle patterns and I’m looking for outside or engulfing candles. But I don’t just look at every single engulfing or outside candle go there as a sell trade. Absolutely not. There’s other things that we want to see.

If we’re looking for a bearish reversal, first of all, we need to see there’s been a good, strong prior uptrend first. The reason for that is not every uptrend can keep going obviously. Everything will stall and exhaust and then turn around. We’re looking for that turnaround because this is talking about reversal trades.

First of all, we need that good, strong prior uptrend. If we have a reason for that to look like it’s stalling, it could be an indecision candle such as a pin bar, hanging man, doji candle, where basically the price has gone up, formed a new high, and it’s come back and it’s closed near the low of the candle, or it’s an indecision candle it’s gone up, it’s gone down and it’s closed near it’s open, something like that is giving us an early warning system, basically. It’s saying after this big, strong bullish trend, all of a sudden, the next candle has given a clue that the market’s gone up, reached a point and it’s coming back, or it can’t decide whether it wants to go up or down any further. That’s our first indication. Then to get confirmation, then we need the bearish candle to come next.

Now, again, not every indecision and bearish candle is a setup. We need lots more. First of all, as mentioned, we need that prior trend. We need that exhaustion. Then we’re looking for other clues.

Don’t forget to look at the price

Now a lot of people fail to look at the actual right-hand side of the chart, which is the most important, and that is the actual price. You have to look to see why that indecision and then potential reversal has happened. Why has it gone up and gone no further? Why is it stored there? Looking at the price will give you a really good clue and indication of maybe that the indecision candle or the pin bar’s gone up and it’s hit a round number. Now I call a round number anything ending in 00 or 50 and so the price has gone up, hit that strong level. The sellers have now started to take over and it’s driving the price down. Now you have a reason why that candle formation is happening.

You could also look back across the left on your chart and you could go across and go, that’s interesting. The last time the price got to this level, it reversed. It’s gone and down its price action. It’s now come back and it’s formed an indecision candle and it’s exhausted at that same level that it did back on the left-hand side of your chart back previously, and look what happened back then. It dropped. You may go back even further and go, oh, the time before it got to that price. Guess what, it stalled and it’s dropped. That’s giving us the clue that that price level is a barrier and that the price for whatever reason of that currency or that market that you are trading cannot breach that level and go any further.

It may go slightly over and take out a whole heap of stop losses and get people in on buy trades, et cetera, that just generally lose money. But in general, that area, that region of the chart will be a level that the sellers have now, or the buyers are getting out, and the sellers are now seeing as a great opportunity to start driving the market back down again. So candle patterns and price, again, not just those things. There’s a few other things we’ll look for.

Bollinger bands give us more clues

For me, I look at Bollinger Bands and if that’s happened all around with an upper Bollinger Band, because we’re talking a bullish trend and then a bearish reversal, that gives me an extra clue.

I’m looking for things like trendline breaks. Has there been a break of that uptrend with the bearish candle? If there has, fantastic. Now we’re starting to build a picture here of what we’re looking for, for a quality grade setup.

Then on top of that, we’ve now potentially identified a good trade. We may have negative divergence, even better. We may have strength and weakness, even better.

But what else are we looking for? We still need room to move for the profit target. Have we got enough room so that you may have got your pin bar and engulfing bar, but you then might be now selling directly into a very strong support level. So you don’t want that. You want room to move so that the trade can then come down in your anticipated reversal direction and have plenty of room to move with not too many other barriers in its way or obvious barriers in its way at the time.

Also another thing to add to that is if our trade can have stop-loss protection, that will also help. It could be a pivot point. It could be a previous resistance area. It could be a round number. So you’re always looking to add more and more layers of protection to keep the trade from being stopped at, of course, but also you want to give yourself the best opportunity for the market to then continue downwards in your direction to get to your profit target without too many barriers in the way.

We’re building all this picture together, and that is what we’re looking for, for a bearish reversal. Of course, complete opposite if you’re looking for a bullish reversal. You want the prior downtrend, et cetera, exactly the same but in reverse.

We trade Reversals and Continuation Patterns

That’s one of the things that we teach here at The Forex Trading Coach. We’re all about trading two types of trades, reversals and continuations. You put those two patterns and those two sets of patterns together, you have yourself two very easy patterns to see, but two high probability patterns.

That’s what trading’s about. It’s about keeping things simple, easy to see. Is there a setup, yes or no? Take trade or move on. It’s as simple as that. That’s really what it comes down to. You get those high probability trades and then you add in things like the money management that we talk about and the limit orders to get high reward to risk. You can now start to see how we achieve very high rewards risk trades with high probability, but they’re easy to see. Of course, we only look to take a trade on the close of a candle so you know exactly when to look at your charts again.

All we’re doing is simplifying everything because people just overcomplicate things and just get far too much confusion with lines crossing over the lines and news events and all these other things that really are not necessary and will just cause you confusion and cause you losing trades and will then cause you to be frustrated and likely give up.

We’re about the opposite. We’re about wanting people to enjoy their trading, to enjoy their life, to make money, to look at the market quite simply and quite easily and say, “Yes, here’s a trade. This is how I’m taking it. Here’s a high probability setup. If it works in my favour, it’s going to make me 2, 3, 4 to 1 risk. If it gets stopped out, that’s trading that’s probability. I had a high quality trade set up at the time, but my risk and my loss is very, very low.” So that’s our philosophy for trading.

Blueberry Markets for MT4 and MT5

If it comes to for you to take look at a new broker or you don’t have a broker at all at this stage, I can highly recommend Blueberry Markets. They’re a fantastic broker. I’ve been there with them for years and years. I speak to them on a fairly regular basis. I’ve been over to Australia in the past and I’ve met up with them. Look, a lot of my coaching clients have been with them and go to them. A lot of just people that are just listening to the podcasts and the videos and go and check them out. I always, without fail, get exceptionally good feedback about their platform, their spreads, their team, and the way that they operate, which is why we recommend them. So have a look at Blueberry Markets.

Look at my 5 Star Rated Forex Coaching Program

Also have a look at my five star-rated Forex coaching course. It’s been running for over 13 years. We have clients in 101 countries right around the globe. It works because the strategy, as you can tell from listening to this and watching this, it’s simple, it works and people enjoy trading it because it’s profitable.

I hope that helps. This is Andrew Mitchem here at The Forex Trading Coach. I’ll see you this time next week. Bye for now.

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In this video:

Right now is the very best time I’ve ever seen in the last 18 years to start trading the Forex market. Let me explain why right now.

Hey, there, traders. This is Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 470.

The best time to be trading the Forex market in 18 years

And I want to explain to you why I think after 18 years of trading the Forex market, right now is possibly the best and the most important time of why you should really strongly consider trading. If you’ve not traded yet, think about it seriously, getting into it now. If you have started to trade and it’s just not working, this is also for you because right now is the most important time. Let me explain why.

I’ve seen all trading conditions in my time as a trader

After 18 years I’ve seen all sorts of different things happen and conditions in the market, et cetera. All that has happened, presidents, different things have come and gone, troubles around the world, whatever it might be. COVID, all these things have happened. Okay. But right now, going forward, there looks to be, doesn’t matter where you live in the world, so much uncertainty.

What are your trading options right now?

Now, what options do you have right now if you’re looking for investing or just surviving? And I mean that quite seriously, because give you an example. This morning, I was listening to the radio station. And on there, there were two articles back to back which really made me wake up and open my eyes about what’s happening. And one of them was a local council guy talking about how they had invested their money. One of the local councillors here in New Zealand had invested quite a substantial amount of their cash and surplus funds into an investment firm. JBWere was the one, they mentioned it so I’m going to mention it. And how they had lost 6% in the last year on their funds through this expert investment firm.

An investment firm where they’re talking to them, explaining why that their portfolio gone backwards and all the different things happening in the world. Basically, giving all their excuses. But ultimately, the result is everybody who is a great payer of this particular local council, their funds have gone backwards. You take that and think about you doing the similar thing. You go and put your funds with these experts. And I’m not saying all of them, and I’m not even saying that the one I’ve just mentioned is particularly bad or good. I’m just saying they were the ones mentioned on this particular radio station this morning that I heard. And when you think about that, you have so little control yourself. You’re not really knowing what’s going on. That was the first news story.

Inflation and interest rates

The second story straight after that was another guy coming on, talking about all the doom and gloom that’s happening and coming regarding inflation and the cost of living. Now, again, it doesn’t matter where you live in the world, your price of food, your price of fuel, your price of just goods, commodity services has gone through the roof over the last few years.

And they were talking about the knock-on effect of that. And they were also talking about how to overcome inflation. All these global again, so-called experts who run these things are looking at putting interest rates up, which they’ve already done pretty much, most countries around the world over the last little while, last few months. But are likely to keep doing again. What’s that going to do? It means that people on mortgages, on home loans are going to come off of what has been traditionally some fairly low rates, all of a sudden, going onto massively high rates.

What does that mean for you? Well, it means, of course, your cost of living, your mortgage, your ability just to tread water to survive is going to cost a lot more. Add on top of that, the food, the fuel, the everything else, and you can see how it’s going to escalate. And then what that does is it leads on to your discretionary income. You’re going out to restaurants and cafes and cinemas and buying investment properties, or going on holiday or vacation, buying a car. Whatever it might be, all that becomes less and less ability for you to spend.

Which then of course, means that if you’re in retail or accommodation tourism or any of these knock-on effect businesses, whether you’re making them or selling them, there’s less people coming through the door. Therefore, you as a worker and an employee, are in less demand. And you can just see the whole bubble building here. And again, this is a global issue. This is not just me telling you about what’s happening in New Zealand. This is happening the world over right now.

The cost of shipping

Another example, just from yesterday, I was talking to a guy who imports helicopters here into New Zealand. He said that the costs that he got quoted last week to import a 40 foot container with a helicopter in it from America to New Zealand, from Long Beach, California to Auckland in New Zealand was 52,000 US dollars for one container. Doesn’t matter what’s in it. A 40 foot container, $52,000.

It was horrifically expensive. It was massively slow because everything’s just slowed down. And so, you then look at the cost of importing, or exporting, and shipping around the world or air freight. It’s just got horrific in terms of its cost and its reliability and its speed. All that again, combines to make things more expensive. And the knock-on effect means that you and I have to pay more for things. That is inflation.

What are you going to do about it?

Bring all of that back together. What is it that you are going to do about it? And that’s why I believe that the Forex market and learning how to do it or having a passive income and knowing how to do this for yourself today, right now, at the end of August 2022 is probably in the last 18 years, the most important and the best time right now for you to seriously consider learning how to trade the Forex market.

I’ll leave it with you there because I think that is a pretty hard hitting chain of events that are going on that’s going to affect everybody. It doesn’t matter where you are, what you do, how old you are.

About to lose your job?

Actually age, one more thing. My poor brother-in-law, who’s a great guy over in the UK. 58 years old, highly skilled, incredibly smart and good at what he does has just been made redundant. 58, what are you going to do with a high paying job to try and find another one? Nobody wants a 58 year old. And that again, is happening throughout the world. All these examples that I’m hearing all the time, it just keeps going on and on and on. Do something about it.

Blueberry Markets is my broker of choice

Lastly, if you want to put your funds with someone and start learning how to trade through a broker, have a look at Blueberry Markets. Look at their MT4 or MT5 platform. I prefer their MT5 platform now because so many more markets on there, the indices, cryptos, commodities. Plus the different timeframe charts like three hour, six hour, eight hour, 12 hour charts all readily available.

Have a look at Blueberry Markets. I’ll put a link to them here.

My 5 Star rated Forex Coaching Program

And I’ll also put a link through to my five star rated Forex coaching programme, which has been running since 2009. Clients in 101 countries have been on the programme over the last 13 plus years. You really need to consider it for yourself. I’ll see you this time next week. This is Andrew Mitchem with the Forex Trading Coach. Bye for now.