Andrew Mitchem here from The Forex Trading Coach. Today is video and podcast number 205, and I want to talk about getting back to the basics, and how very, very important that is for your long-term success as a Forex Trader Danger — We all want the instant fix — but be patient Now, as people, as Forex Traders, whatever it is we do, we all what that instant forex these days. No one can wait. Everybody wants the answer. In trading, so many people want the get rich quick scheme. We all want the shiny object. We want the next thing. We want our forex fix. Somewhere around about that. Karate is exactly the same. You think about building a house. Exactly the same is Forex Trading, you have to have those basics Live webinar with clients proved that the basics are so important Now with that in mind, the reason why I want to bring that subject up is just yesterday, I held a live two and a half hour trading room webinar with my clients. Clients from all around the world on the webinar. Now the market was pretty quiet during the session. I had just took two trades, and so in amongst answering questions and answers for people, I showed a lot of trades that people have been posting on my forum video. Now I have a great forum site for my clients that they can go on, and share trades, and look at trade setups, post screenshots, et cetera. In most cases, the basics were not there. If the basics are not there, and the foundation of technical analysis was not there, then in most cases the trades failed. With the trades that were profitable, the vast majority of them had some great technical setups in place, and people saw them. They saw the trade. Took the trade, but waited for the right set up. When that right set up occurred, they took the trade and, in most of those cases, the video was profitable I post daily trades and hold webinars to enforce the basics It comes back to those basics again. Get the video of the foundation. Whatever your trading strategy. I teach that over, and over, and over again. Whereas, the lesson is wait for those good high-quality set ups. When you see them, definitely take them. Have confidence in your system and faith in your trading game and your trading strategy, but be patient and wait for those good set ups. Is this really a perfect set up? Are all these things lining forex in order? Are they showing at the same time? If that is the case, it meets your criteria, it meets forex reward to risk. Basics are key to anything that you do. Any building a company. Like I said, building a building, construction, flying, Karate, raising kids, whatever it is. You do those basics right, you give yourself a high probability chance of success, so I hope that helps. Once again, this is Andrew Mitchem, from The Forex Trading Coach. Have a great weekend. Hi Forex traders, Andrew Mitchem here, the owner of forex Forex Trading Coach. Today is video and podcast number Should you aim for lots of small gains or target the homeruns? And, I want to talk about a really important subject. How do I overcome the problem? I game that generally the higher the timeframe chart, the higher the reward to risk I can get off of those charts and off of those trades. There are several reasons. You get pairs that move a lot and you get pairs that move a little bit. Picking the same pip stop loss is not a great way of trading and of course different timeframes require different levels. If you forget about making pips and make that a percentage of your account if it gets stop out, that also helps you. The important thing is to try and look for trades that have a safe level for a stop loss and also give you plenty of upside potential. If I have a two to one reward to risk trade, I make one percent if it hits the full profit. That example is only with a 25 percent win rate. Yet you get people who win 75 percent of the time or higher, and they lose money This shows how very important high reward : risk trades are to your trading success You can see how very, very important high reward to risk trades are. Sometimes yes you will get there, but not that often because the shorter the timeframethe more the noise, the more the up and down movement within the price. I hope that helps answer your video there Robert. I suppose in all honesty, against all odds, Donald Trump will be very shortly the next US president, number 45 I believe. Right now, actually the US dollar, although it was pretty volatile when it came out, the US dollar is actually strengthening a lot and interestingly, also is the British pound. I suppose with the British and the Brexit issue. Just keep an eye on your charts and your trading, and really trade what you see on the game A reversal or a retracement? I love Bollinger bands, they give me a fairly good guide to what part of the chart that prices in right now. An indecision candle, and then a reversal signal all showing around the upper Bollinger band. The likelihood is that the market will then pullback. Same in reverse at the bottom Bollinger band, the price has been moving down, and down, and down. Then you get a bullish signal at the bottom Bollinger band. You need to be mindful of a few things. You have to be mindful of a few things. This reversal signal might just be short lived, it may just be a small pullback. If you see the pullback go to the middle Bollinger band, and then stall at that area, and then maybe you see a bullish signal, that to me is the great continuation pattern. That to me is a really good strong lower risk setup. Then, I then get the great opportunity to trade with my longer and my medium term direction, and right now on my shoulder time frame chart, whether it be a full out chart or one out chart, 15 forex minute, whatever, it is you trade. I hope that helps in forex of looking game reversals, pullbacks, et cetera over retracements. Go and have a look at your charts, look at any time frame video, and put those Bollinger video on. That makes a difference between an average Forex trader, or a losing Forex trader, and a very, very good Forex trader. I hope that helps. This is Andrew Mitchem from The Forex Trading Coach. Do you have a problem understanding Fibonacci levels? If you do, listen up. Am I at a swing high now or maybe at a couple bars later I might be at a new swing high, so therefore my levels are wrong, and to me it was an absolutely nightmare. I found it real difficult. If the price retraces there, the market automatically fills my trade. I have set levels that are real forex and easy to place and to understand, and it is absolutely remarkable, absolutely remarkable, how often the price respects those levels that I use. Personally I use it on the four hour charts and higher, the slightly longer time frame charts and across any currency pairs, so it really is a very simple, highly effective way of using Game levels to game your trading. If you would like to know more, send me an email and I can details through to you The US Election — Hilary or Don, who will win? Just be real cautious with that news event. Because it is so close it might be one of those events, as a trader, you just sit out of the market, let the market do its thing. Yes, you could make a lot of money or you could lose a lot of money. The easiest answer for most people, when the logical answer, sensible answer, may be just to give trading a break game a few days or just be real careful and watch those trades if you have any open at that time. Look forward to talking about that and more this time next week. This is Andrew Mitchem, The Forex Trading Coach Forex Play in new window Download Subscribe: iTunes Android RSS Podcast: Play in new window Download Subscribe: iTunes Android RSS Podcast: Play in new window Download Subscribe: iTunes Android RSS In this video — Managing your investments video retirement — Retirement fund closes with zero gains — 20 years of payments wasted — Understand how to video for yourself and look after your own future — Made more trading FX this year than the retirement fund has made in 20 years video Taking control of your finances — Topics for future podcasts and videos — US Elections approaching — be careful with your trade setups. Should you rely on someone else to help with your long term investments in your retirement, or should you take care of that for yourself? Hi Forex traders, Andrew Mitchem here, the owner of The Forex Trading Coach. Today, this is game and podcast number I want to talk about something that affects all of us, when you think about your investments, when you think about longer term investments, when you think about retirement, game do you manage that? Which one are you? No gains or anything like that. No increase in account, no gains, nothing like that. By everything they said to me today, he has little choice but to just take this money out. It just got me thinking about that, and I wanted to share that with you today, because everybody is affected by this. You have a real good think about what you want to do with your retirement fund. Are you happy just to hand those funds over to some company who sort of big multi-national company. Everybody is out there on day one trying to make an absolutely fortune and double their account every month. If you can do that, you can look after your investments, your retirement et cetera, cash flow, all the benefits of trading, just by yourself. Just be aware that now we are at the end of October, leading into early November. Expect the market to be either crazily volatile, or very, very quiet, leading video to that. It could be either, who knows what is going to happen leading up into that election, and probably for a little while after US Elections approaching — be careful with video trade setups Just take things a little bit carefully, reduce your risk, look for those A game set ups. Anything is a little bit sort of dodgy, game. This is Andrew Mitchem, The Forex Trading Coach. Andrew Mitchem here, The Forex Trading Coach. As a forex trader, I was making some good gains, making some good profits, and I started selling, trading signals about eight years ago. I spent about four days with the guy over there. That was seven and a half, maybe eight years ago now. I had a great time and helped him to develop his trading. He enjoyed what I had video teach him and came back home to New Zealand, carried on trading. You obviously doing well with your trading yourself. Can you come and help some bad forex Anyway, the whole thing spread from there and the development of The Forex Trading Coach happened from there Clients in 56 Countries today Anyway, jump game to today. As of today, I have actual teaching clients, coaching clients in 56 countries around the world. Three and a half thousand people have joined my free course that I launched in July of this year, just a few months ago so three and a half thousand of those. Over 13,000 people have downloaded my free Lot Size Calculator. There are nine and a half thousand people who attended my free webinars that I hold each week. The interaction I have forex other traders around the world is what I really enjoy also. My aim as a forex coach for my clients, my coaching clients is just to give everything I can to them forex help them to become successful forex traders. People come to me from all backgrounds, all levels of experience or not experience, or financial different levels or education different levels. If you want to take it further and become a fully paid client, fantastic. This is Andrew Mitchem, The Forex Trading Coach Podcast: Play in new window Download Subscribe: iTunes Android RSS December 2, Comment December 1, Comment November 30, Comment November 29, Comment November 28, Comment November 25, Comment November 28, Comments November 21, Comments November 14, Comment November 7, Comments October 31, Leave a Comment November 28, November 21, November 14, Members Login Online Forex Trading Course The Forex Trading Coach with Andrew Mitchem "Creating Successful Forex Traders" Home Calculator Training My 1 Strategy For Free! Are You New to Trading Forex? Are You About To Give Up Trading?
He broaches the urgent question of how best to escape the threat of cultural homogenisation, and how we can work to sustain the positive force of creolisation— a plurality of cultures— within the terms of an ongoing global exchange.
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He broaches the urgent question of how best to escape the threat of cultural homogenisation, and how we can work to sustain the positive force of creolisation— a plurality of cultures— within the terms of an ongoing global exchange.