Is it negativity or reality? You will find out in due course.
Is anyone familiar Andrew Mitchem - the forex trading coach? online forex course
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Is it negativity or reality? You will find out in due course.
The Leopard
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Very good post about the waiver above. I agree it's preposterous beyond belief.
As far as an effective learning environment goes, the single measure most conducive to promoting that would I think be to rid the site of vendors.
Agreed. Forums should not be used to advertise services or provide advice about paid services.
david_louisson
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Because I use my own methods, which suit my personal trading agenda, and also lend themselves more readily to automation. Anyway, there is likely some overlap in the concepts that we use.
As to your question about legalese, I've had absolutely no input into the material on Andrew's website. I'm merely his friend, not his spokesperson or legal adviser. For whatever it's worth, I agree that it's pointless attempting to copyright trading strategies, as if they're some kind of intellectual property.
No problem. As I already indicated, it wasn't my intention to participate in discussions here. I agree that forums serve little purpose; I posted merely because I became indignant about a friend's integrity coming under unjust fire. As God is my witness, I'm neither a shill nor a liar. And if attempting to profit from trading the markets makes me a halfwit, then I'm happy to continue being one.
I have just trawled through 185 posts and find that only a handful are actually worth reading.
I have not taken the course and probably will not at such a high price tag, but it is good to see that Andrew Mitchem is/was willing to post some of his trades here.
Have some of the mindless babble posted here pissed him off enough that he has given up?
I have not taken the course and probably will not at such a high price tag, but it is good to see that Andrew Mitchem is/was willing to post some of his trades here.
Have some of the mindless babble posted here pissed him off enough that he has given up?
Bint_Crusher
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Hi folks,
My first, and possibly last, post on this forum. By way of introduction, I’m 50, married, and live in New Zealand. Software development has been my career since I left high school back in 1979. I’ve also dabbled in forex trading since 2007, which is how I met Andrew Mitchem. It’s no secret that Andrew has been a friend for around 3 years now, and also that I wrote some of the software that’s sold as part of his forex coaching course.
I can easily relate to the skepticism that’s been posted in this thread. The forex world is rife with snake oil vendors, and in my early days as an aspiring trader, I fell victim to some of them, purchasing worthless EAs and signal systems.
Andrew’s friendship has lasted partly because I believe that he is different. In my opinion he’s a very disciplined forex trader, and has certainly been profitable throughout the time that I’ve known him. Like other traders that I correspond with, he has good weeks and bad weeks; but the good significantly outweigh the bad. That is exactly what one might expect from a robust methodological ‘edge’.
Secondly, all the videos on Andrew’s site, and the reviews on Forex Peace Army, are all written by clients who’ve paid for Andrew’s course, and are genuine and unsolicited. Like many of you, I’m skeptical whenever I read testimonials, especially where they have a ‘too good to be true’ ring to them. If I didn’t know Andrew personally, I might easily feel the same way.
I’ve watched this thread unfold, and I’d like to comment about some of your posts. Somebody suggested something like “let’s see how well Andrew performs over 20 trades”. Then Andrew posts a couple of live calls that happen to be winners, and suddenly there are “he might actually be a real trader” responses; then there are a couple of losses and it’s “see, I told you he’s a fraud”. Given these comments, I feel led to ask how many of you understand what might reasonably be expected from a trading edge. I’ve written many EAs (automated traders) that have sequences where 15 out of 20 trades are winners, and then — when market conditions don’t suit them — 15 out of 20 trades might easily be losers. To evaluate the efficacy of an ‘edge’, I believe that we ideally need to see the results of several hundred trades over many years of changing markets; to whatever extent that this is lacking, we run the risk of being “fooled by randomness”.
Secondly, mathematical expectancy (or ‘profit factor’) is the product of not only winning percentage, but also average win size. In other words, it’s possible to be profitable with a win rate of less than 50%, because the winning trades outsize the losses. Many successful trend following systems (like those made famous by Richard Dennis’ turtles) use that very principle. One EA that I wrote takes ‘low risk’ intraday entries, where the stoploss is only 10-20 pips away from the entry, but then it looks to capitalize on long moves on the daily/weekly charts. Due to the tight stoplosses, it has a win rate of around 30%, but I get some 10:1 and 20:1 RR trades that more than compensate for this. If you looked merely at the win rate over a 20 trade sequence, you’d likely be very disappointed. Yet to date it’s been the most profitable EA that I have in my arsenal (none of which are for sale, btw).
I see comments here from folk who have apparently watched a video on Andrew’s site, and claim that his strategies have been copied. It’s true that elements have been assembled from other folks’ ideas, but there are only so many ways that it’s possible to trade (e.g. with the trend, or countertrend; long term, or short term; etc), hence every trading methodology is likely to contain similarities with others. What the video doesn’t show is some of the more subtle nuances that Andrew uses, e.g. choosing which pairs to trade by analyzing individual currency strength and weakness; correlation; session considerations; how he handles high impact news announcements; limits his total exposure; and so forth. As with many successful discretionary traders, the whole is greater than the sum of the parts; and the way in which the parts are weighed up and fitted together is ultimately key.
I likewise used to believe in the maxim that “those who can’t trade, teach” (or sell EAs and systems). More recently I’ve come to understand the value in having a second income that comes from outside of trading, i.e. diversification. Trading generally provides an erratic income, but (thanks to the ability to compound using fixed fractional MM) offers the possibility of exponential growth. A second, steady but unspectacular, income can be useful for ‘filling in the gaps’. In other words, they complement each other well.
There have been some comments that Andrew’s course is expensive. I’ll end by asking what somebody who knows nothing about forex should be willing to pay, for the possibility of attaining financial freedom. Forex is essentially a zero sum game, where those who have knowledge and experience eventually take all the money from those who don’t. Hence I view trading as the pinnacle of capitalist, entrepreneurial endeavour. Sure, spending money on a mentor, in the hope that it will reduce one’s learning curve, carries a level of risk, but in an ironic kind of way whatever you do in this industry is risk-oriented. The best one can do is perform as much due diligence as is humanly possible. And regardless of the amount spent, it ultimately comes down to the student’s ability to apply what has been taught, with the necessary dedication and mental discipline.
As for what prompted me to post this, I’ll merely say that Andrew will likely be just as surprised by its appearance as you are.
Finally, an off-topic comment to Lord Flasheart: I’m a big Blackadder fan (have the complete DVD box set), and I agree that some of Rik Mayall’s lines in the episodes ‘Bells’ and ‘Private Plane’ are among the best in the whole series.
Good luck, folks, I wish you all the best in your trading endeavours.
David Louisson
Hamilton, New Zealand
You don't have to "come out" and tell us your toy boy fantasy relationships. We are all men of the world on here who prefer not to wash our linen in public.
Can I apologise on behalf who have contributed to this thread that, yes, it was another one of those for you to add to your list of crap threads that you should have never have started reading, but did any way out of bordeom possibly (who knows, who cares?). Really sorry about that.
Anyway, stopped posting becuase he had fulfilled in part a demonstration that he can be profitable. He could of actually have picked random entries and stopped until he was profitable overall as the sample size was so small. But that is besides the point. He stopped because of 1. Sheer boredom. 2. Uselss contributions by others. 3. Because someone told him he knew how he was trading, and to give any daily signals on top of EOD would have given that game away as well.
Lord Flasheart
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The few trades hes called were ahead. Other than that he proved nothing.when he started posting he was claiming a lot more pips every day. He also said he had some intraday strategies that made most of his money that he was going to do some calls on.
Bint_Crusher
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Well flash, at least he did try and some effort was made. But I take nothing away from my original comments: He looks like a posing fat knacker.
The Leopard
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Well flash, at least he did try and some effort was made. But I take nothing away from my original comments: He looks like a posing fat knacker.
Sums it up perfectly.
Hi guys just wanted to write my first post on this forum. I have used andrews system since last year may and have done quite well with it. i stick to the daily tiimeframe and the breakout strategy. the results on his website are honest and i am considering putiing uup a myfxbook acount of his trades as proof. If you want to remain sceptical that is fair enough i don't blame you and will not argue about it but am just posting to vouch for andrews honesty
The Leopard
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Bint_Crusher
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Splendid. Would like to see your results. Mr Mitchem does have his results displayed on forexatom . com managed account program II . That company seems legit.
Lightning McQueen
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that site was interesting porky. no, not for the results btw, couldn't even find those anywhere on that site, no, another of the links at the bottom. another site belonging to the same fellow. who interestingly pumps out an ad for andrew, an affiliate link ad no less. now what was it early in the thread from andrew? no affiliate link ads!
bollox!!
more scotch mist
theforextradingcoach.com/webapps/site/84088/affiliate.html?mbrafl=904815
the aff link that isn't pull the other one andrew, nice try well you would wouldn't you for the opprtunity to upsell $26k of courses for those without gorm. zero $ for those who'll put a little work in and search the net. go on muppets, take the 2k course, i couldn't give a toss, your $ innit
btw what happened to poor old bint, banned again! haha
bollox!!
more scotch mist
theforextradingcoach.com/webapps/site/84088/affiliate.html?mbrafl=904815
the aff link that isn't
pull the other one andrew, nice try well you would wouldn't you for the opprtunity to upsell $26k of courses for those without gorm. zero $ for those who'll put a little work in and search the net. go on muppets, take the 2k course, i couldn't give a toss, your $ innit btw what happened to poor old bint, banned again! haha
T'is there under performance (surprisingly enough). Forexatom is not owned by the vendor so not surprised about the affiliate link. Sorry to say but everything seems legit about this guy and if there is a market for 2K trading courses then thats supply/demand - can't argue with that and his punters seem happy bunnies. Now, if you think you are extra special cos you worked it all out for yourself (that probably all boils down to how fascinated you were when you did your very first crrrap in your potty) -then pat yourself on the back and hunt down some worthy scammers -plenty out there to choose from I expect.
Lightning McQueen
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porky, yes i did find the page you were alluding to, but where does it say any of the results are accredited to andrew? is it the signal service results? and not the managed account? the link through from there to the signal service page is heavy on pumping andrews education service, with his chief affiliated cheerleader beagh to the fore. as per nearly every thread on the net on this subject.
you say his subscribers are happy bunnies? well not all of them seem to be, go read the reviews.
and there it is again, it's only a 2k course. well no it's not, that's the point and what my post 2 on this very thread was all about.
and for your information porky i didn't pat myself on my back, i was a bit taken aback and a little horrified. the public domain availaility of it. the stop strategy having a total disconnect to the main inferred methodology. no wait! my bad, i sense his opportunity for a further upselling bonanza there. the marketing here is all too familiar, i shall pen a post as to why it's wrong and the modus operandi in this instance.
you say his subscribers are happy bunnies? well not all of them seem to be, go read the reviews.
and there it is again, it's only a 2k course. well no it's not, that's the point and what my post 2 on this very thread was all about.
and for your information porky i didn't pat myself on my back, i was a bit taken aback and a little horrified. the public domain availaility of it. the stop strategy having a total disconnect to the main inferred methodology. no wait! my bad, i sense his opportunity for a further upselling bonanza there. the marketing here is all too familiar, i shall pen a post as to why it's wrong and the modus operandi in this instance.
Lightning McQueen
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