Episodi

  • #640: If You Can’t Master This, You’ll Never Succeed in Trading

    #640: If You Can’t Master This, You’ll Never Succeed in Trading
    Jul 5 2026
    If You Can’t Master This, You’ll Never Succeed in 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 #640: If You Can’t Master This, You’ll Never Succeed in Trading In this video: 00:24 – The mindset of successful traders. 01:13 – You need to be excited by trading. 02:40 – Don’t get too emotional with winning trades either. 03:30 – Accept losses if you traded your strategy correctly. 03:58 – Community is so important. 04:30 – Examples from my experience. 06:42 – Check out my new Masterclass. 07:00 – Blueberry Markets as a Forex Broker. 07:33 – How to contact me for trading help. Do you have the right mindset to be a successful trader? It’s a really important aspect of being a good trader or a poor trader. Let’s talk about what’s required and more right now. Hey traders, Andrew Mitchem here at The Forex Trading Coach for video and podcast number 640. The mindset of successful traders. Today I want to talk about mindset. It’s really, really important. And I’ve just been off a webinar where a lot of traders and investors from around the world were talking about the importance of mindset and what it requires to be that kind of person that is successful. You see, trading is not for everybody, and unfortunately, a lot of people see trading online as something to maybe give up the job because they hate the job, or they need some money or, you know, they think it’s a get-rich-quick scheme, or they just simply want to be lazy and think it’s a great way of making lots of money without any effort. And the reality is it’s not any of those. And if that’s your mindset, then it really is not something I suggest that you do because it’s going to end in disappointment and failure and just wasting money and time on your behalf. You see, the reality is that trading is much different. You almost need that entrepreneur kind of mindset to do it. You’ve got to be interested in it to start with. You’ve got to be excited by the markets. You’ve got to want to do it. Like, how much do you really, really want to do this? You need to be excited by trading. And that becomes a big part of it because what you do have to do is you have to have that mindset where you show up consistently. You have to be disciplined. You have to show up. You have to understand risk. You have to understand the strategy and stick to it. Now to me, good trading is almost boring, and I mean that in a really good way because you have to control emotions as a trader. Now you have to control your mindset, your heart, all the emotions that come into making and losing money. And so to do this properly, you have to trade your strategy, your system, and you almost have to forget the monetary value. You can’t treat it like a game. You can’t gamble. You have to stick to your rules, stick to your discipline. Pass on trades when they’re there. If you see the trades, take the trades. And you also need to not get knocked down and despondent when you have losing trades, and you have to accept there will be times where you get losing days, losing weeks, possibly losing months. And you have to look at this and go, well, did I stick to my plan? Did I stick to my strategy? And if you did, then fine, carry on. Don’t get too emotional with winning trades either. Likewise, the other side of the spectrum is you can’t get too stupidly carried away when you have profitable trades or lots of profitable trades. Yes, it’s really good. Yes, that’s why we’re doing it. Yes, we’re looking at making money. Of course we are. But you can’t get carried away and do stupid things because that’s where I see a lot of people do these things. You know, it’s almost like they’re bulletproof. They can’t fail. So they then start doubling up, or they take the stop losses out because, “I know the trade is going to reverse on me soon and come back into profit.” All those silly things that people who don’t have the correct mindset end up doing. And of course, it always, always backfires. It just always does. So have the mindset of consistency, showing up, sticking to your plan, being disciplined, almost being boring in your trading, your approach, and you will find that that will help you massively. Accept losses if you traded your strategy correctly. Now, I’ve talked about accepting losses, and it is something that you do have to accept. And you know you can’t go out there blaming the broker, blaming the market, blaming everything. If you did something silly and you broke your rules, then just blame yourself. If you stuck to your rules and the market just did something different, then you know, that’s the way it goes. Nothing is 100% guaranteed, and trading is all about probability and sticking to the same disciplined system. Community is so important. ...
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    8 min
  • #641: I Found a Trading Pattern That Repeats for Years

    #641: I Found a Trading Pattern That Repeats for Years
    Jul 12 2026
    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 ...
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    6 min
  • #642: The Truth About Forex vs Stock Trading

    #642: The Truth About Forex vs Stock Trading
    Jul 19 2026
    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 ...
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    7 min
  • #643: The Best Forex Pair? Everyone Gets This Wrong

    #643: The Best Forex Pair? Everyone Gets This Wrong
    Jul 26 2026
    The Best Forex Pair? Everyone Gets This Wrong 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 #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 ...
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    6 min
  • #644: Most Traders Chase Win Rates… That’s the Problem

    #644: Most Traders Chase Win Rates… That’s the Problem
    Aug 2 2026
    Most Traders Chase Win Rates… That’s the Problem 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 #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 ...
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    5 min
  • #645: The Trading Mistake That Cost Him 5 Prop Firm Accounts

    #645: The Trading Mistake That Cost Him 5 Prop Firm Accounts
    Aug 9 2026
    The Trading Mistake That Cost Him 5 Prop Firm Accounts 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 #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. ...
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    7 min
  • #639: The Easiest Trading Edge Nobody Talks About

    #639: The Easiest Trading Edge Nobody Talks About
    Jun 28 2026
    The Easiest Trading Edge Nobody Talks About 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 #639: The Easiest Trading Edge Nobody Talks About In this video: 00:23 – Round numbers will help your trading results. 00:50 – Traders ignore the most important part of the chart. 01:43 – What is a Round Number? 02:28 – Support and Resistance levels. 02:58 – How to use Round Numbers in your trading. 05:30 – Check out my new Masterclass. 05:59 – Blueberry Markets as a Forex Broker. 06:35 – How to contact me for trading help. Round numbers. What are they? How can you use them and why are they so important? Let’s talk about that and more right now. Hi there, Traders! Andrew Mitchem here at The Forex Trading Coach with this week’s video and podcast number 639. Round numbers will help your trading results. So I want to talk to you about round numbers because it’s something that I find most people don’t use and don’t understand. And you don’t see the importance of it, probably because they don’t look at the price axis. You see, most people, when they get into trading, they’re worried about this line moving over that line and a moving average crossing over or MACD changing from overbought to oversold. And they get very caught up in indicators. Traders ignore the most important part of the chart. And the issue becomes that most people ignore what is probably the most important part of the chart. It’s the right-hand side axis. It’s the price axis. You wouldn’t go out there in normal life buying something without considering the price. So why is it that when you suddenly want to become a trader, you take this crossover of a moving average, but you never look at the price? Why is that? Well, it’s because most people get so fixated with all these lovely squiggly lines and things, or they hear news events and they suddenly want to become fundamental traders, that they fail to look at the actual price. Go and look at the price on your charts and you’ll see that price changes over and bounces at those levels so many times. So most people ignore round numbers. What is a Round Number? What is a round number? So I classify a round number as a price level that ends in a 00 or a 50. The 00s are more important and have more weight in my opinion, but 50s are also important. So think of, let’s say, $100 or $100.50 or 101, 101.50, 102, that type of thing. So think of those types of 50s and zeros. Anything ending in a 50 or 0, they are the most important round numbers. And so those levels are important to us as traders because those levels act as natural areas of support and resistance. Support and Resistance levels. So think of support and resistance as floors and ceilings. When the price comes up to a resistance level, it hits that ceiling and it will likely bounce and fall away. Now how do you know that that’s a resistance level? Well, you can look at your charts and see a previous bounce at that level, but you can also look at the other side of your chart and go, “Oh, that’s bounced at a round number.” And so those levels suddenly become really important for you. There are so many ways you can use them. I’ll give you some examples. How to use Round Numbers in your trading. Let’s say you are buying at the close of a candle, but that candle had already gone up and hit a round number and then rejected that level. I personally would not be taking a buy trade at that point because the price has already proven to have hit that level, rejected it, and fallen away. So that’s one way of using a round number. It helps protect a trade that might end up being a losing trade. Secondly, if the price has come down and bounced at a round number and the candle low is at a round number and then turned around, that could be a good reason for that level to be a support level. It could be why the price is turning around because it’s bounced at that round number. Another way you can use round numbers is to help protect your stop loss. Let’s again say that we’re buying a currency, and we have the ability to put our stop loss below a round number. It means that the price might move up, it may come back, it may test that round number. Your stop loss, by the way, is below the round number on a buy trade. The price may come and test that round number and then head back up again. So your stop loss below a round number on a buy trade will help protect the trade. The other way of looking at a round number to your advantage is, again, if we’re saying that we’re buying a currency pair, it’s moving up and it’s moving up nicely. Make sure if there’s a round number at or near your profit target that you need for your strategy, you just bring your profit target down to below that round number. Again, the price may go up and let’s say your ...
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    7 min
  • #638: Your Breakout Strategy Is Failing (Do This Instead)

    #638: Your Breakout Strategy Is Failing (Do This Instead)
    Jun 21 2026
    Your Breakout Strategy Is Failing (Do This Instead) 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 #638: Your Breakout Strategy Is Failing (Do This Instead) In this video: 00:28 – Trader has a failed breakout strategy. 01:33 – False breakouts and low reward:risk trades. 02:23 – I use limit orders and not stop orders. 04:07 – View our new 15 minute Masterclass. 04:25 – Blueberry Markets as a Forex Broker. 05:40 – Real people, community and communication. So your breakout strategy keeps failing. What can you do to overcome that? If you trade breakouts or you’ve considered trading breakouts, this video is exactly what you need to hear. Let’s get into it. Traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 638. Trader has a failed breakout strategy. Just this week I’ve received an email from a trader who said, “Andrew, I need some help with breakouts. My breakout strategy is not working. It keeps failing. I keep losing money. What can you suggest?” Well, first of all, let’s understand what a breakout strategy is. For most people, it means that you’re buying at the high of a candle or a range, and you’re selling at the low of a candle or range. So that could mean you look at every 4 hours and you take a buy stop, let’s say, to buy above the high of that 4-hour range. Or you may be taking like the first 10 hours of the day or taking the European session and trading a breakout of that, whatever it is you do. There are all sorts of styles of breakout, but effectively it means you’re buying high and you’re selling low. So you’re either sitting there waiting for that price to break out of that range and you’re taking a market order, or probably the more sensible way of doing it is to put a buy stop and sell stop in, which means that when the price breaks high or low, the market automatically gets you filled into the market. False breakouts and low reward:risk trades. But the trouble is, it doesn’t generally give you a particularly good reward-to-risk. And you’ll find so many times you’ll get false breakouts. The market will move up, get your buy stop in and move up a bit, and then fall back down again. You get stopped out and it just keeps happening. So for me, I don’t actually like breakout strategies. I don’t think they are a particularly good way of trading. It’s just basically here’s a range and if it goes higher than that, we’re taking buys. If it goes lower, we’re taking sells. It doesn’t have a huge amount of other technical qualities about it. And as I mentioned, it certainly doesn’t, in most cases, give you a particularly good reward-to-risk. So therefore, for me, it’s not something I really am interested in doing. So a better way of answering the question might be to say what else can you do instead? I use limit orders and not stop orders. Now, for the last 20-plus years, I have used limit orders and it’s something that if you don’t use them, I suggest you go and have a look and consider using them. So a limit order, a buy limit or a sell limit, means to buy below the current price, and a sell limit is to sell above the current price. And already, if you think about it, to buy below the current price means that if the market should pull back down, get me filled, and then move up in my direction, I’m already massively in reward-to-risk favor. And if you imagine you’ve got a buy stop and I’ve got a buy limit in, the market moves down, gets me filled, by the time it then turns around and goes back up to your buy stop area, I’m probably already with my strategy in at least a 1-to-1 reward-to-risk trade, if not more, and you’re just getting filled on the trade. And so the likelihood of me making profit on a buy limit order is so much more than you taking profit, and good profit and good reward-to-risk, with your buy stop order. So I would consider limit orders. The markets always move up and down and retrace. So in most cases buy limit orders get filled very often and you just find that they work beautifully once you know what you’re doing. Now let’s say that the market does not pull back and you do not get filled on your buy limit order. Well, that doesn’t really matter, because all it means is that you miss out on the trade. That’s absolutely fine. You know, that happens from time to time. So have a look for buy limit orders and sell limit orders. Your reward-to-risk will improve massively. View our new 15 minute Masterclass. In other news, I have made a new short 15-minute-long masterclass this week. It’s now available on our website. It’s on demand so you can go and watch it whenever you like. I’ll put a link to that. I highly recommend you spend 15 minutes, go and watch that and you’ll learn so much about trading on ...
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    5 min