Online Forex Trading Course

The Trading Mistake That Cost Him 5 Prop Firm Accounts



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#645: The Trading Mistake That Cost Him 5 Prop Firm Accounts

In this video:

00:26 – Remember hearing about Aesop’s fables?

01:33 – Trading luck on a demo account.

02:40 – Prop firm account failures.

03:42 – When I started trading, I had no idea what I was doing.

04:38 – Trading is harder than you think.

05:13 – Avoid the mistakes and view my Masterclass.

06:04 – Blueberry Markets as a Forex Broker.

06:22 – Questions, Like, share and subscribe.

Have you ever confused trading skill with trading luck? I know I used to do it. I’m sure you’ve done it. And I’ve got a great story to share with you. Let’s get into that more right now.

Hey there, Trader! Andrew here at The Forex Trading Coach with video and podcast number 645.

Remember hearing about Aesop’s fables?

Do you remember as a kid you may have heard about Aesop’s Fables? Well, I’ve got a story to tell you today that’s a true story, and it’s about confusing trading skill and trading luck.

A number of months ago, I received an email from somebody who was saying, “I don’t need to learn how to trade. I know how to trade, and I don’t need your course because I know how to trade.”

And I was thinking, why is this person telling me this? Why are they wasting their time, or my time, telling me this?

So I had a little look online at our database, and I saw this person had been on our masterclass. They’d downloaded my book and calculator, they’d been opening emails all the time, and I thought, that’s strange.

Why is this person so interested in what we do if they’re so good? And it’s fine if they’re really good. Good on you, go for it.

So I wrote back to him and said, “Look, that’s absolutely fine. But keep in touch. If you want to send me some details, I will have a look.” So he sent me his account details.

Trading luck on a demo account.

Of course, it was a demo account. All I could see was trading luck. I couldn’t see any skill there. Now, of course, I couldn’t tell his strategy and how he was taking the trades, but I could see the results. And yes, there were some very good trades on there in terms of monetary value.

But when I looked at the risk and the stop losses and that type of thing, it was a complete fluke.

I didn’t quite tell him that in those exact words, but I said, “Look, it looks like your money management and your risk management are not great. They could be improved. We could certainly help you there. Have a look at some of my free videos.” And I left it at that.

He wrote back and told me, “Well, I certainly don’t need your help.”

So this went around in circles. I was getting a little bit confused. I’m trying to help someone, they didn’t seem to want the help, but they kept writing anyway.

I said, “Well, good luck.”

And he wrote back and said, “I’m going to be a successful trader trading prop firms.”

So I said, “Oh well, again, keep in touch if you really want to, but good luck. Off you go.”

Prop firm account failures.

Now, just this week I received an email from him saying that he has failed 5 $100,000 prop firm trials. They’ve cost him about $550 USD each, so you can see how much he’s spent. And he’s not made a single penny out of it.

It’s no surprise to me because, obviously, to pass a prop firm you’ve got to have low risk and low drawdown. You could see clearly this guy was never going to do that if he continued to trade the same way.

So I kind of felt like going back and saying, “Well, I told you so.”

I also kind of felt like thinking, “Well, if you’ve just spent 5 lots of $550 USD, for way less than that you could have jumped on our course and be trading the way that we trade, with low risk and following what we do.”

I didn’t tell him that, but I kind of felt it, and he’s probably got that feeling himself. So when I think about Aesop’s Fables, it’s like you learn the hard way. A lot of those stories are the same. When I started trading, I had no idea what I was doing.

When I started trading, I had no idea what I was doing.

Look, I’m not saying I’m immune to this. When I started trading, I did exactly the same. I was trading on a demo account, and I was just randomly putting positions on here, there, and all over the place. Most of the time, no stop losses, just random lot sizes of 1.00 lots because I thought that’s what I should do.

I’ve looked at a lot of good trades as well. I distinctly remember showing friends at the time and saying, “I’m going to be a full-time currency trader because look at all these trades I’ve made. I’ve just turned a $100,000 demo account into like half a million dollars in about a month. Look at me.” And I did well.

Now, of course, that never happens in real time, in real life, in live accounts, because you soon figure out through the school of hard knocks, whether it’s through blowing accounts or not being able to afford any more money, or like this guy, 5 failed prop firm challenges in a row, that trading is a lot harder than you think.

Trading is harder than you think.

You do need to treat it properly. You do need low risk. You do need some support and some help. And you do need a proven strategy.

So it’s quite interesting when you think about that. This guy could have saved himself a whole heap of headaches, a whole heap of time, and a whole heap of money, and he’s still no better off today.

That’s the other thing. He spent 5 lots of $550 on prop firm accounts, and he’s got nothing to show for it now.

Sure, he might have learned a few things along the way, but he’s not actually any better off in terms of his logic, his strategy, or any hope of making a return.

Avoid the mistakes and view my Masterclass.

So look, if you’d like to avoid being like him, and like I was at the very early stages, probably 23 or 24 years ago now, do yourself a favour. Jump onto my masterclass. Have a look. It’s completely free of charge, with no obligation. Have a look. It’s 15 minutes long, and please ask questions of us. That’s what we’re here for.

We’ve been doing this for a long time. We’ve got clients right around the world, so we know what works. We know what doesn’t work as well, and we’re doing this ourselves every single day.

I’ve just taken a 6-hour chart trade right now, just a few minutes ago, selling the AUD/USD. I’ve taken 2 daily trades so far today already as well.

We’ve got several weekly charts on, and at the beginning of this week, the beginning of August, we took monthly chart trades as well, all for our clients to follow, learn from, and hopefully profit from as well.

Blueberry Markets as a Forex Broker.

If you’re looking for a really good broker, I can highly recommend Blueberry Markets. I’ll put a link to them. They’re a great bunch of people, with really good spreads, lots and lots of markets on their MT5 accounts, and very fast withdrawals as well.

So if you have any other questions, don’t forget to email me directly at Andrew@TheForexTradingCoach.com and I’ll see you this time next week.

Bye for now.

Episode Title: #645: The Trading Mistake That Cost Him 5 Prop Firm Accounts

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Attend my Free Masterclass

Most Traders Chase Win Rates… That’s the Problem



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Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

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#644: Most Traders Chase Win Rates… That’s the Problem

In this video:

00:22 – Paul Tillman – Director of Coaching at TFTC

00:53 – On holiday/vacation in Europe and trading.

01:44 – As a trader, be prepared for the unexpected.

02:40 – Casino win rate and your trading win rate.

03:30 – High reward:risk trading in trading is key.

04:35 – Monte Carlo Casino visit.

How would you like to achieve a win rate in the forex market that’s much less than you can even get here at the casino? Let’s talk about that and more right now.

Paul Tillman – Director of Coaching at TFTC

Hello traders, this is Paul Tillman. I’m the Director of Coaching Services here at The Forex Trading Coach, and this is video and podcast number 644.

I want to talk about 2 things today that we encounter in the forex market. The 1st one is expect the unexpected for trading, and the 2nd one is achieving a lower win rate, much lower than you can get here at the casino in Monte Carlo.

But you can get that rate achieved in the forex market and still do very well in your trading journey. So 1st is expect the unexpected.

On holiday/vacation in Europe and trading.

My family and I, we’ve been in Europe for the last 11 days. We started out in Paris and got to Disney, and then came down to Barcelona, Spain. And lo and behold, we found out that my wife was missing her passport.

So we’re in another country. Talk about things going unexpectedly. So just like in the forex market, we had to pivot. I had to take a flight back up to Paris, come back down to Spain, and then find the passport, get it, come back down, and meet the family just so we can be on this cruise right now.

So what does that mean for the forex market? Well, many people think it’s a get-rich-quick scheme. People show you spreadsheets. “Oh, it’s so easy all the time. You can just sprint to the finish line and it’s not a big deal, and you can just get rich fast.” And that’s just not true.

As a trader, be prepared for the unexpected.

You’re going to have unexpected things happen in the forex market, just like our trip, all the time. You’re going to have spreads that you have to deal with. You’re going to have price spikes you have to deal with. You may not have a certain pair on your broker platform. You may miss a time frame change. You miss a trade. A trade may not fill you in. All these unexpected things that can happen on a trip can certainly happen in the forex market.

You’ve got to be adaptable. Yeah, I was adaptable and took an early morning flight to save my family so we could go on a cruise and get home back to the US, back to North Carolina, where we live.

And in the trading markets, you’ve got to adapt to all of that. You know, it’s also news trading. What if you have round numbers and full Winter Band support? All of these things you have to account for, and the unexpected can certainly happen. But to succeed, you’ve got to deal with that. Well, the 2nd thing I want to talk to you about is the win rate.

Casino win rate and your trading win rate.

So here at the casino, many of the games you might have a 47%-48% chance to win.

And that’s because the house always has the advantage. So you’ve got a little bit less than a 50-50 chance of winning consistently in the long run in the casino.

The great thing about the forex market is, and the way we trade with consistent risk management and a great reward-to-risk, great trading is all about reward-to-risk in the markets.

I’m talking about 2-to-1 trades, 2.5-to-1, 3-to-1, 4-to-1. We’re in some great British pound weekly chart trades just this week that, on the market orders, can have upwards of 5-to-1, 6-to-1, or 7-to-1 in the market. And so you can do very well with, say, a rate of even 35%-40%.

High reward:risk trading in trading is key.

So it’s the 1 thing in the world, really, that you can get a less than 50% win rate and still achieve great results. Different things like sports. Our Carolina Hurricanes had a much bigger than 50% win rate, and they got in the playoffs and just won their 1st Stanley Cup in the last 20 years. Even in all sports like tennis, you’ve got to win more than 50% of the points.

In basketball, football, you’ve got to make more than 50% of your kicks and all that. But in trading, you can have that lower win rate and you can still do extremely well.

So what are we talking about today? Expect the unexpected when it comes to trading. Be adaptable, willing to make changes on the fly. Have a routine, even though things are there, subjectivity there.

Then you’ve just got to go with the unexpected, trade your plan, and get it going. With the casino and the win rate, then you’ve got to make sure you have a decent win rate, but it doesn’t have to be 50-50.

Monte Carlo Casino visit.

So I’m heading here. Going to go have a look at the casino, see if I can get that win rate for a little bit, and then head back on our cruise and our trip.

Andrew will be back next week, but great to talk to you here from our Tillman trip in Europe, and we’ll see you next week.

Episode Title: #644: Most Traders Chase Win Rates… That’s the Problem

Find out more about Blueberry Markets – Click Here

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Book a Call with Andrew or one of his team now

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The Best Forex Pair? Everyone Gets This Wrong



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Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

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#643: The Best Forex Pair? Everyone Gets This Wrong

In this video:

00:22 – What is the best Forex pair to trade?

00:59 – Don’t limit your trading opportunities.

01:55 – Give yourself a higher probability of success.

02:25 – An example of Strength and Weakness.

03:50 – What are the current market conditions?

04:25 – Look at multiple FX pairs.

05:06 – Check out my new Masterclass.

05:15 – Book a call to talk with us.

05:28 – Blueberry Markets as a Forex Broker.

Hey, traders! Do you know what the best forex pair is to trade? If you don’t, listen up. I’ve got some interesting news to cover for you.

Hey there, Traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 643.

What is the best Forex pair to trade?

Now, I’ve been asked 4 times this week already by 4 different people. And it’s the same question. It is, Andrew, can you tell me please, what’s the best forex pair to trade? What should I be looking at?

Now, what it does show me is that unfortunately, there’s a lack of knowledge out there by so many people when it comes to trading, and they just always want to know what is the answer?

What’s the best thing, what time frame, what pair? What’s my stop loss? Where should my profit target be? All those type of things. And it unfortunately shows that most people don’t do enough research into trading.

Don’t limit your trading opportunities.

And the problem is, is that people see the major currencies like the EUR/USD or the USD/JPY, and they think that’s the only pair I should trade.

And I suppose, in all honesty, when I started, you know, it was the GBP/USD, the USD/CHF, the USD/JPY, and then later on the EUR/USD. And everybody thought those were the 4 pairs you should focus on trading. And the issue is, why just those 4 pairs? Now, when you think about it, all 4 of those that I’ve just mentioned are all US dollar dominated.

And therefore, if you focus on pairs that are just US dollar dominated, you’re not giving yourself a very good chance of success because they’re all likely to move, much of the time, in the same direction. And because it depends if the US is strong or the US is weak.

Give yourself a higher probability of success.

And as a trader, I like to give myself the best probability chance of success. So when it comes to which pair is the right 1 to trade, I don’t get aligned to any pair. I look at all the different pairs and you can very quickly scan through the charts, looking to see if there’s a suitable trade there, yes or no.

And the other reason I do that on a daily basis is because I also prefer to trade with strength and weakness.

An example of Strength and Weakness.

Now, give you an example. Let’s focus again on the EUR/USD. What happens if for today the Euro is really strong and the US is really strong, and that’s the only pair that you look at? Then you’re trading 2 strong pairs together, and you see how the problem might come. 1, you’re unlikely to get many setups or good setups.

And what happens if you buy the EUR/USD because the Euro’s got some strength, but you also know now that, and you would know this only if you look at more pairs. If you don’t look at more pairs, you’re not going to know this. The US dollar has got strength. So why would you be buying the EUR/USD if you know that the US dollar has got strength?

And so, what about other pairs in the market? What about pairs like the CAD/JPY or the NZD/CHF? And so by analyzing multiple markets at the same time, you can soon understand which pairs are strong, which pairs are weak because, doesn’t it make more sense to trade a strong currency against a weak currency? And so that, to me, adds more basis to my trading.

And again, it’s just adding more and more probability to my trading. So when someone says to me, what’s the best pair? I can’t answer it. And of course, there’s more things on top of this, you know, to consider.

What are the current market conditions?

It depends on the day, what’s happening in the market right now, what news has been, what news there might be coming up, what time frame chart you’re looking at, what’s the conditions?

What’s the time of year? Right now we’re in the Northern Hemisphere summer. Does that mean that there’s less price action in maybe, say, the Franc and the Euro? Maybe. You know, so all these things have got to come into it. What’s the characteristic of the market right now? And so by picking 1 or 2 pairs and giving you that as the answer, that’s not me doing my job. That’s not what I suggest you do.

Look at multiple FX pairs.

I suggest that you scan through multiple pairs and give yourself a high-quality chance of a successful trade.

Use strength and weakness. Use candle patterns. Don’t limit yourself to just something against the US dollar. It’s not a wise idea. And so there’s a lot more you can be doing to help yourself there.

And if you do want to look at pairs that include the US dollar, why not look at things like the AUD/USD or the NZD/USD? Because maybe if that US is still strong, maybe the Aussie and Kiwi are weak that day. So therefore you might be selling the AUD/USD or the NZD/USD. So all these things can certainly massively help you.

Check out my new Masterclass.

If you’d like to find out how we do this, and you’d like to learn from the way that we trade, have a look at my On-Demand Masterclass. I’ll put a link to that here.

Book a call to talk with us.

If you’d like to book a call to speak to myself or 1 of my team, we’re more than happy to do that. And we can cater for people right around the world. So it doesn’t matter what time zone you’re on, you can book a time with us and I’ll put a link to that also here.

Blueberry Markets as a Forex Broker.

If you’re out there looking for a really good broker where you can trade multiple time frames, multiple markets, multiple currency pairs, and non-forex markets as well, have a look at Blueberry Markets. I’ll put a link to them here as well.

So that’s it for this week. This is Andrew Mitchem at The Forex Trading Coach, keeping you on the right side of your trades and putting probability in your favor.

Episode Title: #643: The Best Forex Pair? Everyone Gets This Wrong

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Attend my Free Masterclass

The Truth About Forex vs Stock Trading



Podcast:



Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Attend my Free Masterclass

#642: The Truth About Forex vs Stock Trading

In this video:

00:22 – Should you trade Shares or Forex?

01:04 – Are shares erratic?

01:38 – You need to factor in the exchange rate.

02:31 – You are in charge when you trade Forex.

02:50 – People buy what they know and like.

04:40 – We trade the pattern, not the emotions.

05:12 – Different time frame charts and markets.

05:33 – Check out my new Masterclass.

05:49 – Blueberry Markets as a Forex Broker.

06:05 – Like, share and subscribe.

So which is best to invest in, either forex trading or share trading? Let’s talk about that really important topic and more right now.

Hey Traders! Andrew Mitchem here at The Forex Trading Coach with video and podcast number 642.

Should you trade Shares or Forex?

Today I want to talk about share trading or forex trading, which is best, which is best for you, and what are the key differences.

The reason I want to talk about this today is because I’ve just seen on the news, right now, that the SpaceX shares have dropped quite a lot.

Now, about 1 month ago when SpaceX got launched, I had quite a few people who are friends say to me, “Hey look, Andrew, are you going to get in on this? Are you going to buy SpaceX shares?”

Very roughly, they started at about $130 USD, quickly climbed to about $150, and I think they got to about $225 very quickly within a handful of days.

Here we are 1 month later, and they’ve just dropped back below $130 again.

Are shares erratic?

The issue that I see there is it’s kind of a little bit erratic. Now, I’m not saying that all shares do that, of course, but this is just an example of a very well-known share that’s topical right now.

So if you imagine that you jumped in there at $150, $175, $200, or even right at the top at $225, and here we are just a few weeks later and it’s worth $130.

You’re going to start panicking, aren’t you? That’s quite erratic kind of behaviour, especially if you’ve gone and put some considerable sum of money into that.

You need to factor in the exchange rate.

The other thing I think that a lot of people outside of the US don’t factor in is the exchange rate. Here in New Zealand right now, the New Zealand/US exchange rate is actually really quite poor. It’s sitting around $0.56. It’s very low.

Therefore, that means that if you’re buying something in US dollars, that’s very, very expensive. So you’ve got to factor that in.

Now let’s say that you go and take your money out of the shares, and the Kiwi dollar rises up to about $0.70 against the US dollar. This same example, by the way, is typical whether you’re in Canada, the UK, Europe, or anywhere else.

You might have made some money on your shares, possibly, but by the time you bring it back at a better exchange rate, you’re actually not making anything. So that’s one thing to really consider as well for everybody outside of the US.

You are in charge when you trade Forex.

The other thing I think with forex is it’s more consistent. You’re in charge. Of course, you can buy, you can sell, you’ve got leverage, and you’ve got the ability to trade through prop firms as well.

So all these advantages mean you don’t need to put that amount of money straight into something and then sit and watch it, hoping it’s moving up.

People buy what they know and like.

Another classic issue that I see, and SpaceX actually is a very topical one, is people were saying to me, “Hey Andrew, I like what Elon is doing,” and all the other things that are out there.

Of course, the news media kind of hypes it all up. People know SpaceX, they know Elon Musk, so they go and buy it.

Now, I’m not saying you shouldn’t do that, but what I am saying is people tend to follow things that they know.

Another New Zealand classic is back years and years ago, I had a lot of friends that bought Air New Zealand.

Here in New Zealand we don’t have a huge amount of iconic companies, but Air New Zealand, being the national airline, is one of those. It’s a globally recognised brand.

Years ago I had a lot of friends buying Air New Zealand shares.

Why did they buy them?

Well, they bought them simply because they knew of Air New Zealand. It’s topical, everybody flies on them here, and so they bought based on the name.

Now I’ve just had a look back, and in 2000 Air New Zealand shares were $7.50. They peaked at around $7.50 per share.

Right now, here we are some 26 years later, they’re $0.43.

Now imagine if you had invested $10,000, or bought 10,000 shares at $7.50 each. Today, 26 years later, they’re down to $0.43.

Now imagine what would have happened if you had invested in learning how to trade the forex market back in the year 2000, and the money that you could have made by understanding the markets, different time frame charts, choosing what to trade, whether to buy or sell, what time frames to use, how long you’re in the market for.

We trade the pattern, not the emotions.

What I love about the forex market and the way that we trade is that we’re trading the pattern. I don’t just trade New Zealand pairs simply because I live here. It’s completely irrelevant.

If you’re in the UK, you don’t just trade the pound pairs. If you’re in Australia, you don’t just trade the Aussie pairs simply because you live there.

We trade what we see setting up right now on the charts, and that takes the emotion out of it. You’re trading the pattern, and that’s key.

Different time frame charts and markets.

Just this week, for example, I’ve taken 2 weekly chart trades. One was a GBP/NZD sell and that hit profit. The other was an AUD/CHF buy and that hit profit.

You’ve got longer time frame charts like that.

Just last night I took a Nasdaq 100 3-hour chart trade.

So you’ve got shorter time frame charts like that as well. You’re trading the pattern, and that takes the emotion out of things a lot more.

Check out my new Masterclass.

If you’d like to find out how we do this and how we can help you do the same, I’ll put a link here to my new masterclass. It’s only about 15 minutes long. It’s on demand.

You can just click on it and watch it through. It teaches you about how we trade, what we’re looking for, and how we can help you do the same.

Blueberry Markets as a Forex Broker.

If you’re out there looking for a really good forex broker that you can trade not only forex but also other markets like metals, cryptos, indices, and commodities, and they’re a great bunch of people as well, that’s Blueberry Markets. I’ll put a link to them here as well.

Like, share and subscribe.

Don’t forget to like and share this around, especially if you’ve got friends that might be interested in starting trading, or maybe they’re thinking about share trading.

Like anything in life, there are pros and cons and traps with everything.

I’m not saying don’t trade shares. I’m not saying do trade forex.

I’m just giving you some real-life examples that I’ve found through friends of mine, either like the New Zealand example from 26 years ago or like the SpaceX example from just 1 month ago when they launched and the price dropped.

By the time you watch this, if you’re watching this years later, the price might be way higher.

Who knows?

But the point is, do you want to be in control of what you’re doing and decide for yourself?

If you do, then maybe consider the forex market.

This is Andrew here at The Forex Trading Coach.

I’ll see you this time next week.

Bye for now.

Episode Title: #642: The Truth About Forex vs Stock Trading

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Attend my Free Masterclass

I Found a Trading Pattern That Repeats for Years



Podcast:



Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Attend my Free Masterclass

#641: I Found a Trading Pattern That Repeats for Years

In this video:

00:32 – How to use and understand Support and Resistance levels.

01:14 – What are Support and Resistance levels.

01:45 – UK Oil (Brent Crude Oil) price bounces at 70.00

02:20 – Charts from 2026 – 2014 showing bounces at 70.00

03:20 – Identify setups at these important levels.

04:38 – Check out my new Masterclass.

05:03 – Talk with us.

05:13 – Blueberry Markets as a Forex Broker.

05:52 – How to contact me for trading help.

Do you realize how important support and resistance levels are? Do you know how to find them on your chart and how to take advantage of them to ensure you become a good trader? Let’s find out about that and more right now.

The traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 641.

Outside again on another beautiful winter’s day here in Nelson in New Zealand.

How to use and understand Support and Resistance levels.

So today I want to talk about support and resistance levels and how you can benefit from understanding them and using them in your trading.

Now, it’s very easy in hindsight to go and look at support and resistance levels, and it’s very easy to scan back through your charts and go, “Oh look, the price bounced there and it bounced there,” and you conveniently almost ignore other levels that potentially in real time could have also been useful support and resistance levels but didn’t actually do anything.

And so I find that a lot of people, you know, it’s a bit like Fibonacci levels. It’s something that’s very easy if you see a screenshot and ideal support and resistance levels, but in real time it potentially can be quite hard.

What are Support and Resistance levels.

So support and resistance levels, if you don’t know, are horizontal levels on your charts. And they are where historically prices bounced, reversed, stalled, etc. I tend to find that if you include a round number or look for round numbers, you’ll find that support and resistance levels tend to also form at those levels. Now you can go and find out all about round numbers from a video I’ve made just a few weeks ago.

UK Oil (Brent Crude Oil) price bounces at 70.00

But if you look at your charts, a classic example I’m going to use today is UKOil, UK Brent Crude Oil. Go and have a look at your charts while you’re watching or listening to this, and have a look at the 70 level. Now just last week at the beginning of July, you see that the price would have come down to 70 and has now bounced right now as we are speaking.

And so I’m going to put 4 screenshots up on screen for you right now for you to have a look at. Now, I’ve identified some of the support and resistance levels, not all of them. These charts you’re going to see right now are the UKOil daily chart.

Charts from 2026 – 2014 showing bounces at 70.00

So the first chart you’ll see is from now back to 2023. You’ll see I’ve identified levels where the price has reversed at that 70 level. The next chart you’re going to see will be from 2023 back to 2021. Again, I’ve identified some of those levels so you can see the importance of those price bounce levels. The next chart, this third one, will be 2021 back to 2017. Again, lots of examples here. I have not identified all of them. But just to give you an idea of support and resistance, again, all happening at exactly 70.

Then the fourth chart on screen right now is from 2017 all the way back to 2014. Again, lots and lots of examples. So here’s maybe 20-25 examples that I’ve just shown you there on the charts of 1 chart, 1 market, UK Brent Crude Oil bouncing at just that one level of 70.

Identify setups at these important levels.

Now don’t you think it would have been important last week to have looked at that chart? And by the way, the reason I’m talking about this is because I identified this exact thing to our clients on our forum site when we saw a buy trade on the market that you’ve just been looking at, and the price candle bounced at 70.

Now, the important thing to note here is you can’t just go and look at every time that the price bounces at a level and say, “Oh, it’s hit that level, I’m taking a buy trade again,” or “It’s gone through that and bounced at 70 and now I’m taking a sell trade.” You can’t do that. You still need to have a strategy, some logic. From my point of view, we use candle formations and a number of other things that we look at and teach here at The Forex Trading Coach. But the 70 level was hit, the candle bounced at that level, and then formed a good strong bullish candle.

So I put the 4 screenshots that you’ve just seen in front of you now on the forum site and said, “Look, here’s the reason. Not only the candle pattern in the right part of the chart, but now it’s bouncing at 70.” And hey, look, go back further in time and look at how important that level was. So the trade I actually took was a 12-hour chart trade. It’s a slightly longer time frame chart trade, and 70 was a massive level.

So if you’d like to find out more about how we do this and how we teach our clients from around the world, with clients in 111 countries, how to do this, if you’ve not been on my new masterclass, it’s around 15 minutes long. It’s on demand, so you can just jump on whenever you like.

Check out my new Masterclass.

I’ll put a link to that masterclass so you can get onto that and have a look at some examples exactly like I’ve just mentioned, and see some actual trades that we’ve taken as well. I’ll put a link to that masterclass.

Talk with us.

If you’d like to speak to us, you can book a call to speak to myself or one of my team, and I’ll put a link to that here as well.

Blueberry Markets as a Forex Broker.

If you’re out there looking for a really good, high-quality broker that offers 12-hour charts, such as the trade I’ve just mentioned, and markets like that, not only forex but metals, indices, cryptos, and commodities, I’ll put a link to Blueberry Markets as well. They’re based over in Australia, and pretty much anybody from most countries around the world can open an account with Blueberry Markets. I highly recommend them. Great people, great service, and very good spreads. Withdrawal speeds are incredible. I’ll put a link to them so you can consider Blueberry Markets if you’re out there looking for a good, high-quality broker to trade through.

How to contact me for trading help.

So that’s it for this week. Don’t forget to like, share, and subscribe. Any questions? Please email me directly at Andrew@TheForexTradingCoach.com. See you this time next week.

Bye for now.

Episode Title: #641: I Found a Trading Pattern That Repeats for Years

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