#528: Good Trading Does NOT Need to be Complicated

Good Trading Does NOT Need to be Complicated  Podcast: Signup For my Forex Masterclass 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 #528: Good Trading Does NOT Need to be Complicated In this video: 00:27 – Don’t make trading harder than it needs to be. 01:25 – You need a simple and solid strategy. 02:16 – The 3 things that can happen in the market.  03:02 – The 2 basic patterns we trade. 03:50 – Trading is a probability, not a guarantee. 04:32 – Book a call and attend my Masterclass. 04:45 – Trade through Blueberry Markets. Good trading does not need to be complicated. Don't forget, the wheel is simply round and it works. So let's talk about that and more right now. Hey, there traders! Andrew Mitchem here at the Forex trading Coach with video and podcast number 528. Don’t make trading harder than it needs to be. I want to talk about a topic that a lot of people get stuck in their minds and they think that trading needs to be overcomplicated. They think it needs to be difficult and they get this, I suppose, perception by thinking that like it's something only the pros do or it's something you need to be in a 50 story, you know, tower block in London or Dubai or New York or something, and you need to walk around in a big flash suit and shirt and tie in order to be a good trader. And so I think people get the impression that you need all these complicated systems and algorithms and things going on and insider knowledge of what's happening in order to do well at trading. And the reality is you don't need any of that to do well at trading. You need a simple and solid strategy. Well, you need a good, simple, solid strategy that works. And like most simple things, they work. Again, like I said, think of the wheel. Don't reinvent the wheel. It's round. It's simple. It cannot be more any more simple. And it works. You know. Other examples. I love cooking. So what's my favorite medium to cook on? You know, you can have all your electrics and gases and all the rest of it. Fire is with that that the best in terms of enjoyment and certainly taste and flavor. You know to cook on fire and charcoal. Nothing beats it. And why? Because it works. And why? Because it's simple. Trading is exactly the same. The 3 things that can happen in the market.  Now, putting it in absolute basics. What can happen in the market? In any currency pair, any market, It's going to go up. It's going to go down. It might go a bit sideways, a bit rangebound. That's really all that can happen. So the market's going sideways. Okay. Rangebound generally for the way I trade means there's no trades there because I'm looking predominately at candle pattern and that's my initial set up is the candle. If it's rangebound, there's nothing, you know, there's no prior indecision. It's just going flat. It's not over bought. It’s not oversold. it's got a trend line break. So therefore no trade. Very easy just to move on to the next market. The 2 basic patterns we trade. And so we look at two quite basic and quite simple patterns, and we look for continuation patterns and we look for reversal patterns. And so those two are really when it comes down to it, all we teach and all we trade and it's all we've ever taught and traded because they work, because they're simple, they're easy to identify. Now when I go through and look at trades that have been successful and I go through our forum site, I go through our webinars. I go to our daily trades and I analyze my trades and I go back and look at the trades that have been really good. They pretty much all take all the boxes of what we're looking for a successful trade. Trading is a probability, not a guarantee. So trading is not a guarantee, it's a probability just because the patterns worked for the last five times and you see it again,

Episode Transcript

(00:00):
Good trading does not need to becomplicated. Don't forget. The wheel is
simply round and it works. Solet's talk about that and more right now,

(00:20):
Hey the Traders. Andrew Mitchell hereat the Forest Training Coach with video
and podcast number five hundred and twentyeight. I want to talk about a
topic that a lot of people getstuck in their mind and that they think
that trading needs to be over complicated. They think it needs to be difficult,
and they get this I suppose perceptionby thinking that like it's something only

(00:46):
the pros do, or it's somethingyou need to be in a fifty story
you know, tower block in Londonor Dubai or New York or something,
and you need to walk around ina big flash and shirt and tie in
order to be a good trader.And so I think people get the impression

(01:07):
that you need all these complicated systemsand algorithms and things going on and insider
knowledge of what's happening in order todo well at trading. And the reality
is you don't need any of thatto do well at trading well. You
need a good, simple, solidstrategy that works. And like most simple

(01:30):
things, they work. Again,like I said, think of the wheel,
don't reinvent the wheel. It's round, it's simple. It cannot be
more anymore simple, and it works. You know other examples. I love
cooking, So what's my favorite mediumto cook on? You know, you

(01:52):
can have all your electrics and gasesand all the rest of it. Fire
is, without doubt the best interms of enjoyment and certainly taste and flavor.
You know, to cook on fireand charcoal. Nothing beats it.
And why because it works, andwhy because it's simple. Trading is exactly

(02:14):
the same. Now, putting itin absolute basics, what can happen in
the market in any currency pair,any market, it's going to go up,
it's going to go down. Itmight go a bit sideways, a
bit range band. That's really allthat can happen. So the market's going
sideways, okay. Range band generallyfor the way I trade, means there's

(02:37):
no trades there because I'm looking predominantlyat candle pattern and that's my initial setup
is the candle. If it's rangeband, there's nothing, you know,
there's no prior and decision. It'sjust going flat. It's not bought,
it's not over sold, it's gotno trend line break, so therefore there's

(02:57):
no trade, very easy just tomove move on to the next market.
And so we look at two quitebasic and quite simple patterns, and we
look for continuation patterns, and welook for reversal patterns, and so those
two are really when it comes downto it, all we teach and all
we trade, and that's all we'veever taught and traded because they work,

(03:23):
because they're simple, they're easy toidentify. Now when I go through and
look at trades that have been successful, and I go through our forum site,
I go through our webinars, Igo through our daily trades, and
I analyze my trades, and Igo back and look at the trades that
have been really good. They prettymuch all tick all the boxes of what

(03:46):
we're looking for for a successful trade. So trading is not a guarantee.
It's a probability. Just because thepatterns work for the last five times and
you see it again, it's nota guarantee it's going to work this time.
It's just a probable ability that witheverything stacked in its favor, it's
likely to work. And so that'swhen you start bringing money management and reward

(04:06):
to risk etc. Into it aswell, strength and weakness, all those
other things. But ultimately, tradingshould be if it's enjoyable and it's something
that you can continue to do,you know, years ago, today,
years into the future. It hasto be simple because it works. Exactly
like that wheel is simple because itworks and nothing can beat it. If

(04:30):
you'd like to know more about howwe trade, how we teach, you
can book a call to have achat with myself or one of my team.
You can jump onto one of mymaster classes. It's a free on
demand master class. And if you'reout there looking for a broker, I
can highly recommend Blueberry Markets. I'llput a link to the master class,
a link to Blueberry, and alink to have a chat with us on

(04:55):
the description by this video and podcast. This is Andrew mitcham at the Frost
Training Coach. Make trading simple becauseit can be, it should be,
and when you do it that way, it's more profitable and certainly more enjoyable.
I see this time next week.Bye for Nat