Now Andrew, like The Lazy Trader, very much believes in lifestyle trading… but unlike us, actually trades on the lower timeframes. Andrew has a big presence on Forex Peace Army and has taught thousands of traders to date via his online training portal since he metamorphosed from a loss making rookie into who he is today. After four years most people would probably have given up, but Andrew kept at it — people give up far too easily, especially if they think trading is easy money. You need to have the right trading mindset. He was able to go through things at a slow pace, not needing to make money, not thinking that he would get rich quick.
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Why I use Candlesticks as my main trading tool? However, like many new traders, my early years of trading were not profitable. I lost money due to taking bad trades, reading unhelpful e-books and purchasing trading robots that promised to unlock the door to successful trading. I wasted countless hours watching multiple indicators tick across my screen and pouring over online forums searching for a system that would save me. Basically, as far as trading was concerned I was uneducated and I was trading without a plan or a logical trading method.
I offer Forex coaching because I want to save you the time and money that I and so many other traders lose trying to figure out how to trade the markets. I enjoy the freedom that Currency trading offers. I can make trades any time and from anywhere. Personally I do not like sitting at a computer all day watching charts. I used to do that in my early days of trading and it really does not work for me. I like to be patient and only take trades that have strong setups and a good risk to reward ratio.
Daily charts are my favourite time frame as I find them the most reliable. They also require the least amount of work — just a few minutes each day to scan through each currency pair looking for the ideal trading opportunity.
The indicator that I have developed helps me look for strong candle patterns, along with overbought or oversold areas and local support and resistance areas.
I then use Fibonacci retracements and extensions in a unique way to help enter and exit my positions. Typically there are 3 or 4 good trade setups per month for each of the 20 currency pairs that I study on a Daily chart. The reward:risk of these trades is usually around meaning a 0.
My other favourite time frames to trade are the Weekly charts, the 12 hour, 6 hour the H12 and H6 charts are created by a piece of software that I have had created which my clients have access to and 4 hour charts. I study the Weekly and Daily likely strength and weaknesses and I prefer to take trades that are in the same direction as the likely longer term trend.
I only look for a potential new trade setup upon the completion of a candle so it makes it very easy to know when to look at my charts. The reward:risk of these my trades would vary between a 1. With a 0. Some of my clients prefer the very short time frame charts. Some trade only 1 and 5 minute charts while others prefer a mixture of D1 charts and some shorter time frame charts such as 1 hour and maybe 15 minute charts.
The system I teach will work on all pairs and all time frames. Your choice depends upon what suits you. Japanese candlesticks are certainly the most important part of my trading system and that is why I have developed an indicator that will scan your charts looking for good candle formations and candle pattern combinations.
The candles tells me where the market sentiment is right now and this allows me to enter trades long before any indicator could possibly show a good potential trade setup.
Likewise, an understanding of certain candle shapes and patterns offer me an earlier exit from a trade without giving back money to the market. In this market any edge you can achieve can often be the difference between a good trade and a great trade. I will teach you which candles work best in the Currency markets and how to use them successfully in conjunction with certain western technical analysis methods. Remember: The hardest part of trading is trading from the right hand side of the charts.
What makes my coaching course different and why should you take the course? Firstly my method of trading is profitable!! I have personally developed this course and I will teach you to trade exactly the same way as I trade myself everyday as a full time Forex trader and private funds manager. You will get taught the entire strategy not just part of the strategy. The method that I teach will allow you to trade profitably completely by yourself, just think how valuable this knowledge will be.
No need for outside help such as forums, robots, subscriptions etc. Take a look at my Testimonials to see what my clients have said about my course. Once you understand the logic behind the system you will be able to identify great trading setups in any market and using any time frame and in REAL TIME.
This is a crucial part to recognise as so many systems seem to show great trades but all in hindsight. I will teach you how to identify new trades as they show themselves, you will know where to place your stop loss and profit target and you will know how to manage your trades.
How many traders will offer to teach you personally in your own home or office? How many traders will come to your local town just to teach a small group of traders? How many traders will offer you personal online coaching? How many traders will send you a list of the same trades as they are taking themselves each day?
My course is suitable for anybody, from the absolute beginner to the more experienced trader Why I choose to trade Foreign Currencies? As mentioned, there is no other business that I know of that offers such fantastic opportunities.
Forex trading allows me the freedom to choose when I want to trade. Personally I choose to work from home but when I am away from home all I need is my laptop. The set up costs are low, I do not need to employ any staff, I do not need to lease a shop or warehouse and I am my own boss. Leverage is such an attraction for us Currency traders and in business I have learnt that if used wisely and correctly, leverage can be an amazingly powerful tool.
However, leverage is also a double edged sword and can destroy you if you use it without good knowledge. Where our Coaching Clients live.. Quick Links.
Andrew Mitchem: The Leisurely Approach
Andrew Mitchem Forex Trading Coach – You Must Be Joking, Right ?
Client Testimonial Videos