Is anyone familiar Andrew Mitchem - the forex trading coach? online forex course

[TheForexTradingCoach]

Lord Flashart - what on Earth are you talking about ???

Go and look at your live charts and you will see that NEITHER of these trades has filled yet.

The live price of the GBP/JPY is 120.62, the low of the day so far and the AUD/JPY is at 81.74 with a low for the day of 81.46 (missing my entry by just 4 pips).

Please read what I wrote as the entry prices and look at your charts before making comments like this.

If you look at my last post you can see what time I wrote the post and you can see what the prices were at that time. Please read what I put on that post as it explains everything quite clearly.

 

[Lord Flasheart]

Ok, apologies, The posts was timed at 10.54 so I assumed you had already taken the trade,sorry,anyway your now long in at least 1 of them,so good luck. I dont mind making a fool of myself once in a while

 

[TheForexTradingCoach]

Well that was a good start.

The AUD/JPY trade has hit full profit for + 117 pips and a 2.5:1 Reward:Risk trade.

At just a 0.5% account risk that is a +1.25% gain on my account.

It's important to note that the biggest draw down on this trade was just -13 pips.


The GBP/JPY trade was not such a strong setup but that is now up + 60 pips and a 1.1:1 R:R trade, equating to a + 0.55% account gain heading into the weekend.
So far the biggest draw down on this trade has been -28 pips.

Enjoy your weekend and I'll come back next week to update the GBP/JPY trade along with posting another one of my daily trade suggestions that I make for my clients each day to help them earn and learn at the same time.

 

[Lord Flasheart]

Well that was a good start.

The AUD/JPY trade has hit full profit for + 117 pips and a 2.5:1 Reward:Risk trade.

At just a 0.5% account risk that is a +1.25% gain on my account.

It's important to note that the biggest draw down on this trade was just -13 pips.


The GBP/JPY trade was not such a strong setup but that is now up + 60 pips and a 1.1:1 R:R trade, equating to a + 0.55% account gain heading into the weekend.
So far the biggest draw down on this trade has been -28 pips.

Enjoy your weekend and I'll come back next week to update the GBP/JPY trade along with posting another one of my daily trade suggestions that I make for my clients each day to help them earn and learn at the same time.

Two good trades

 

[TheForexTradingCoach]

Hi Traders,

I was hoping to be able to place another live Daily trade suggestion here but I haven't taken any D1 chart trades today as the market seems so indecisive right now. I suggested to my clients a great XAU/USD (Gold) short position yesterday at the open of the week. Selling @ 1736.50 with a s/l @ 1749.00 and a t/p @ 1701.00. That trade is currently up 1.3:1 R:R so a +0.65% gain with a 0.5% account risk.

The GBP/JPY Buy trade that I mentioned last week is currently up + 60 pips and a 1:1 R:R trade, or a +0.55% gain for a 0.5% risk.

I'll post another trade live for you here later in the week.

Happy Trading !!

 

[the hare]

I think that GBPJPY trade just hit the target. Nice call

 

[Porkpie]

The hardest part for anyone learning how to trade is dealing with emotions and trading discipline. There are many ways to trade profitably but being able to is very difficult, for the very reasons above. Why should I spend $2K on trading material when I can get a profitable trading strategy for free of the internet? How does your course help me with the most difficult part of trading, and that is dealing with one's emotions and discipline, especially after periods of drawdown. What strategies do you teach regarding this if any? Or maybe you dissagree that trading discipline and emotions are the biggest problem for aspiring traders at all?

PS: Its brave for any teacher to give out live trading calls because one can easily have a bad streak. If you do presumably you would carry on with another 20 calls or so to get your 'reputation' back in line if that should happen.

 

[the hare]

PS: Its brave for any teacher to give out live trading calls because one can easily have a bad streak.

Particularly calls based on stops and limits, as they are far less likely to be manipulated than real time market calls.

Quite refreshing to see a vendor putting their nads on the line.

 

[Lightning McQueen]

The hardest part for anyone learning how to trade is dealing with emotions and trading discipline. There are many ways to trade profitably but being able to is very difficult, for the very reasons above. Why should I spend $2K on trading material when I can get a profitable trading strategy for free of the internet? How does your course help me with the most difficult part of trading, and that is dealing with one's emotions and discipline, especially after periods of drawdown. What strategies do you teach regarding this if any? Or maybe you dissagree that trading discipline and emotions are the biggest problem for aspiring traders at all?

PS: Its brave for any teacher to give out live trading calls because one can easily have a bad streak. If you do presumably you would carry on with another 20 calls or so to get your 'reputation' back in line if that should happen.

this may be an interesting question for andrew, why should you spend $2k with him. well actually it can be more than that, as some of his students go on to take further courses with him. if you didn't "get it" first time around then i guess you'd spend more? up to $26k is quite a large investment in one's training. if you read some of the reviews, some of his students do just that and spend more with him.

the trading results for andrew's calls so far are very good. i've been following the trades, very impressive.

 

[Lord Flasheart]

This is why I wanted Andrew to be left alone to make some calls. credit has to be given because he is one of the few to take up the challenge and not run for cover or make excuses. Lets judge him over 30 or so calls, . I have to agree,unless he gets 30 out of 30 it will be hard to give a valuation of $2k for training.I would think he trades more than he is calling so it could take a long time, unless we get all of the trades

 

[Lightning McQueen]

This is why I wanted Andrew to be left alone to make some calls. credit has to be given because he is one of the few to take up the challenge and not run for cover or make excuses.

tbh i didn't think he'd follow through and actually do it. and yes, credit where it's due for that.

 

[TheForexTradingCoach]

Hi Traders,

I have a meeting to attend starting soon so I will answer your questions later today.

Here are the trades I am entering today based off the Daily charts. Like I mentioned earlier I will not be placing the reasons for the trades here just the entry and exit levels.

Trades for Wednesday 8th February 2012 (New Zealand Time)

posted after the close of the Tuesday D1 candle 5pm EST

EUR/USD - Buy @ 1.3211 S/L @ 1.3145 T/P @ 1.3376

GBP/USD - Buy @ 1.5868 S/L @ 1.5827 T/P @ 1.5973

AUD/USD - Buy @ 1.0781 S/L @ 1.0741 T/P @ 1.0891

AUD/JPY - Buy @ 82.78 S/L @ 82.40 T/P @ 83.85

XAU/USD (Gold) - Buy @ 1735.65 S/L @ 1724.30 T/P @ 1773.30

 

[Porkpie]

This is why I wanted Andrew to be left alone to make some calls. credit has to be given because he is one of the few to take up the challenge and not run for cover or make excuses. Lets judge him over 30 or so calls, . I have to agree,unless he gets 30 out of 30 it will be hard to give a valuation of $2k for training.I would think he trades more than he is calling so it could take a long time, unless we get all of the trades

The problem is, it doesn't matter how good you are as a trader you will always have the probability of a bad streak. Trading successfully is about riding out these bad streaks both technically by unwavering sound analysis, and mentally by discipline and patience.

A great course teaches you the art of trading -the technical, AND most importantly the mental. Some methods are able to instill discipline and patience in the method itself with a clear understanding of money management, and by a clear set of logical rules which end up forming your belief system. Your belief system about how you view the market and why your trades work gives the confidence and mental stability to trade well.

How the course teaches or helps with one's mental ability depends whether there is an understanding in the course of the true nature of the markets (the market is basically the outcome of a mass of decisions so fundamentally it is a psychological foot print). One needs to ask how well the foundations of the course/method are related to this reality of the markets. Often methods with indicators come with no view or a very detached view, far removed from the reality. These are often indicator based methods and it is this area of Andrew's course/method that uses indicators (Fibs, fib pivots, bollinger bands etc), that I would be very interested in, his belief system of the method and his use of indicators, and how it relates to the reality of market behaviour.

If the course fails to instill discipline in the student it is usually because the teacher has failed to change the belief system of the trader and does not explain the reasons of why what he does works. This is why the teaching of the course from a holistic perspective ( and I'm not talking religion), is very important.

 

[D70]

Hi Traders,

I have a meeting to attend starting soon so I will answer your questions later today.

Here are the trades I am entering today based off the Daily charts. Like I mentioned earlier I will not be placing the reasons for the trades here just the entry and exit levels.

Trades for Wednesday 8th February 2012 (New Zealand Time)

posted after the close of the Tuesday D1 candle 5pm EST

EUR/USD - Buy @ 1.3211 S/L @ 1.3145 T/P @ 1.3376

GBP/USD - Buy @ 1.5868 S/L @ 1.5827 T/P @ 1.5973

AUD/USD - Buy @ 1.0781 S/L @ 1.0741 T/P @ 1.0891

AUD/JPY - Buy @ 82.78 S/L @ 82.40 T/P @ 83.85

XAU/USD (Gold) - Buy @ 1735.65 S/L @ 1724.30 T/P @ 1773.30

Same position size for all? You are effectively going short the $ in a massive way. You sure you want to be doing that? I can see 3 x risk being spunked very quickly if $ goes pear shaped.

I've got a feeling this style will get slaughtered in choppy markets...... but look forward to being wrong.

 

[Lord Flasheart]

The problem is, it doesn't matter how good you are as a trader you will always have the probability of a bad streak. Trading successfully is about riding out these bad streaks both technically by unwavering sound analysis, and mentally by discipline and patience.

A great course teaches you the art of trading -the technical, AND most importantly the mental. Some methods are able to instill discipline and patience in the method itself with a clear understanding of money management, and by a clear set of logical rules which end up forming your belief system. Your belief system about how you view the market and why your trades work gives the confidence and mental stability to trade well.

How the course teaches or helps with one's mental ability depends whether there is an understanding in the course of the true nature of the markets (the market is basically the outcome of a mass of decisions so fundamentally it is a psychological foot print). One needs to ask how well the foundations of the course/method are related to this reality of the markets. Often methods with indicators come with no view or a very detached view, far removed from the reality. These are often indicator based methods and it is this area of Andrew's course/method that uses indicators (Fibs, fib pivots, bollinger bands etc), that I would be very interested in, his belief system of the method and his use of indicators, and how it relates to the reality of market behaviour.

If the course fails to instill discipline in the student it is usually because the teacher has failed to change the belief system of the trader and does not explain the reasons of why what he does works. This is why the teaching of the course from a holistic perspective ( and I'm not talking religion), is very important.

in 30 trades we will have a good idea, his r/r is good so doesnt need many winners to be ahead. His methods appear to be usable with limit orders. All we are asking is that he shows us he can trade. we know all about losing streaks etc,that is not the point of the exercise.He has risen to the challenge and I wish him well. Do you really expect people to take his word he is a good trainer or listen to new posters like yourself(no offence). So far he is miles above many other mentors. As I said lets give him the space to trade on this thread and we can discuss the hows and whys another time

 

[Porkpie]

in 30 trades we will have a good idea, his r/r is good so doesnt need many winners to be ahead. His methods appear to be usable with limit orders. All we are asking is that he shows us he can trade. we know all about losing streaks etc,that is not the point of the exercise.He has risen to the challenge and I wish him well. Do you really expect people to take his word he is a good trainer or listen to new posters like yourself(no offence). So far he is miles above many other mentors. As I said lets give him the space to trade on this thread and we can discuss the hows and whys another time

I agree, a demo of trade calls is better than nothing and a few bad trades will demonstrate RR etc. But you are asking him for just a small part of his ability. Anyone who can trade can demonstrate their calls, does not mean they can teach does it. I am not assuming he is a good trainer hence my questions! (dohl). Asking a few questions on the real issues will give him a chance to demonstrate his depth of knoweldge and whether he has more than an ounce of intelligence. If you prefer I'll just PM him in future and then you can decide if he is a great teacher just on his trade calls. lol.

Also, he trades mostly EOD trades himself, so I am sure he has a little bit of time to explain himself and to contribute to the conversation (now that the sad ****s who were throwing insults at him earlier have left).

 

[Lord Flasheart]

They have not left,they are watching Andrew trade. They are sceptical for very,very,very good reasons. Now lets leave the thread clear for the trades.thanks

 

[Bint_Crusher]

Thanks Flash, my comments that he looked like a posing fat knacker had nothing to reflect his trading ability. Just his personal maketing had all the hallmarks of an appendage hoover.
As for the Cable trade recommended I have been in it since monday and look to close out tomorrow at the same place.

 

[Porkpie]

As for the Cable trade recommended I have been in it since monday and look to close out tomorrow at the same place.

was that a "tradeprecision" entry Bint?

GBP/USD - Buy @ 1.5868 S/L @ 1.5827 T/P @ 1.5973 SL hit (Weekly and Daily supply killed that one).

 

[Bint_Crusher]

Not as such, If you look at this pair over time it likes to punch up to the 1.6000 level after it breaks above 1.5860. Got a free trade yesterday when It dropped below 1.5800, Breakeven last night then just let it run for today. Stop hit this aft just after US open but 40 pips up nonethelesss, no loss . Might take it again long if it fitsa the plan (range trade)