February 25, 2024 • 7 mins
The Realities of Learning How to Trade 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 #537: The Realities of Learning How to Trade In this video: 00:26 – A trading reality check. 01:00 – Do you want it now or can you wait? 01:41 – Adults are no better than children at wanting instant gratification. 02:23 – How much can I make? 03:23 – Doing the hard work first. 04:33 – Not everything will go in your favour. 05:09 – Don’t knock someone who’s trying to help you. 06:00 – We can help you if you would like to trade well. 06:26 – Book a call with us. 06:38 – Blueberry Markets. Today, I'm going to talk about the realities of learning how to trade properly and why it's probably not quite as easy as you think it might be. 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 537. A trading reality check. Now today it's a bit of reality check. And it's kind of like not being grumpy day, but just wanted to keep things real. I've had just a few interactions with people over the last week or so that just got me kind of beating my head against the wall. One was a client and the other is not a client, and it just makes me realize that there's so many people out there that are not real with their trading. Do you want it now or can you wait? Now, you may have heard about the experiment. I don't know who did it. It was quite some number of years ago where they got a bunch of kids, put them in a room, and they said to them they put like a sweet or lolly chocolate and in front of them and said, You can have one right now. But if you wait, you know, 15 minutes, we'll give you three. And of course, most of the kids go, I'm just going to take the one that they can't comprehend. You know, if you just wait for a little bit longer, you'll get three times the amount for just a little bit of, you know, dedication. And that was a kid's experiment. Adults are no better than children at wanting instant gratification Now, I think the same logic, unfortunately, applies to so many adults today as well, now that whether it's me, show my age or what, I don't know, but whether it's, you know, an instant gratification thing, whether it's a cell phone thing, an Internet thing, a Netflix thing, you know, another thing, everything just seems to be instant. And people unfortunately don't seem to be able to. A lot of people anyway, don't seem to be able to. And accept the realities of hard work, dedication and a bit of time, commitment and effort. And also not an instant answer, an instant fix. How much can I make? Now, I want to talk about that because I think that you've got to get your head around that if you're going to give yourself a realistic chance of being a successful fighter because everybody wants to know how much am I going to make, how long is it going to take me, how much do I need to my account? How many prop firms do I need? All these? How to what's the answer? And without actually figuring out that they need to actually study and listen to people that have done this before and not only ask questions, but when someone gives you an answer in their best interest is to help you listen to that answer and possibly accept it. And I find that people struggle to do that. And maybe it's because it's not the answer that they want or it's not the quick fix solution. It's not the you're going to become a multimillionaire next week solution. It's and that kind of thing. I just I struggle with, I suppose, because I suppose I'm about a year away. Doing the hard work first. You know, you did the hard work moving to New Zealand with a couple of suitcases to the other side, the world, you know, with no Internet back then and no cell phones and, you know,
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Today I'm going to talk about therealities of learning how to trade properly and
why it's probably not quite as easyas you think it might be. Let's
talk about that more right now.Hey the Traders Andrew Ritcham here had the
(00:21):
Forest Trading Coach with video and podcastnumber five hundred and thirty seven. Now
today it's a been a reality checkday and it's kind of like not being
grumpy day, but just wanted tokeep things real. I've had just a
few interactions with people over the lastweek or so that just got me kind
(00:42):
of beating my head against the wall. Once was a client and the other
it's not a client, and itjust makes me realize that there's so many
people out there that have not realwith their trading. Now, you may
have heard about the experiment. Idon't know who did it. It was
(01:03):
quite some number of years ago wherethey got a bunch of kids, put
them in a room and they saidto them. They put like a swee
or Lolli chocolate in front of themand said you can have one right now,
but if you wait, you know, fifteen minutes, we'll give you
three. And of course most ofthe kids go, I'm just going to
(01:26):
take the one name they can't comprehend. You know, if you just wait
for a little bit longer, you'llget three times demand for just a little
bit of you know, dedication.And that was a kid's experiment. Now
I think that the same logic,unfortunately applies to so many adults today as
(01:46):
well. Now, whether it's meshowing my age or what, I don't
know, but whether it's you know, an instant gratification thing, whether it's
a cell phone thing, an internetthing, a net for thing, you
know, an uber thing, everythingjust seems to be instant, and people,
unfortunately don't seem to be able toa lot of people anyway, don't
(02:09):
seem to be able to accept therealities of hard work, dedication and a
bit of time, commitment and effortand also not an instant answer and an
instant fix. Now I want totalk about that because I think that you've
got to get your head around thatif you're going to give yourself a realistic
chance of being a successful trader,Because everybody wants to know how much am
(02:32):
I going to make, how longis it going to take me, how
much do I need in my caount, how many prop firms do I need
it? Or all these how towatch the answer without actually figuring out that
they need to actually study and listento people that have done this before and
not only ask questions, but whensomeone gives you an answer, in their
(02:55):
best interest is to help you listento that answer and possibly accept it.
And I find that people struggle todo that. And maybe it's because it's
not the answer that they want,or it's not the quick fixed solution.
It's not that you're going to becomea multi millionaire next week solution. It's
(03:17):
and and that kind of thing Ijust I strugg with. I suppose,
because I suppose that era where youknow, you did the hard work moving
to New Zealand with a couple ofsuitcases to the other side of the world,
you know, with no internet backthen and no cell phones. You
(03:38):
know. You I worked on adairy farm where I worked basically for a
guy who was the worker, youknow, And so you milk cows.
You basically washed the yard down,and you wash koupo down a whole at
nighttime, you know, But sofar and properly you've got to go through
the whole, step by step process. Have known what to do as many
(04:01):
of you know, we've done alot of martial arts in the past.
I don't do that now, butyou know, it's the same thing.
You've got to learn from the bestand time, dedication. You're not going
to become a black belt within fiveyears. This is not going to happen.
You know, I learned to flyhelicopter. You always keep learning.
I'm right now learning to play guitar. You just keep learning. You've got
(04:24):
to keep practicing, got to keepat it if that's what you want to
do. And trading is exactly thesame. So just wanted to put that
bit of a reality check out there. You know, just expect the ups
and downs. Expect that there willbe days, weeks, trades months sometimes
that aren't going to go in yourfavor. Even if you follow someone,
even if you join and follow us, not every trade's going to be successful.
(04:46):
That's the reality of it. Butalso we have mechanisms and proof and
longevity in place to say that ifyou do this consistently and you have your
low risk in the high reward torisk, all those things that I constantly
talk about, that it will work. But you just got to stick at
it. It's no good doing itfor a few months and go, oh,
it's not working for me, andI can't make it work. And
(05:09):
then also the other thing that Ifound a little bit annoying recently is that
someone else jumps in and tries tohelp out, and then the odd person
gets grumpy with the person that's tryingto help them. And it's like,
you cannot get grumpy with someone that'sgiving up their time there, you know,
their day to try and help you. You cannot get grumpy if someone
(05:31):
following the system is doing really reallywell and you're not. Maybe they've been
at it longer, maybe they putmore time and effort into it. You
know, there's all those type ofthings. So that was my wanting to
get that kind of message across becauseit's just something that you've got to be
real about this. You've got toput time, effort, dedication in.
Accept things aren't going to go alwaysto plan. That's life, that's trading.
(05:57):
If you can't accept that, don'tstart, it would be my message.
But if you do want to start, and you do accept that as
a reality, no better place thanto have a look at us. We've
just passed four thousand clients. I'vebeen through the course. We're getting close
to our fifteenth birthday, which isin May, and we're very proud of
that fact that ninety nine percent ofpeople do incredibly well. It's just the
(06:18):
one percent from time to time.But that's life. You can't please all
the people all the time. Soif you'd like to have a chat with
myself one of the team, I'mgoing to put a link for a booking
session on here. If you've notbeen on my one hour masterclass to find
out how we trade, you cando that as well. And if you're
out there looking for a really goodbroker, can highly recommend Blueberry Markets across
(06:41):
in Australia, so I'll put alink to them as well. That's it
for this week. Next week I'mgoing to have more trade and tips and
information for you, more practical tips. Today was just a bit of a
that's happening in the last week orso. I wanted to kind of get
that off my chest, put thatacross there and make you understand that if
you're going to do properly, bereal about it. I hope that helps.
(07:01):
I'll see this time next week byfor nighte mm hmm.
Today I'm going to talk about therealities of learning how to trade properly and
why it's probably not quite as easyas you think it might be. Let's
talk about that more right now.Hey the Traders Andrew Ritcham here had the
(00:21):
Forest Trading Coach with video and podcastnumber five hundred and thirty seven. Now
today it's a been a reality checkday and it's kind of like not being
grumpy day, but just wanted tokeep things real. I've had just a
few interactions with people over the lastweek or so that just got me kind
(00:42):
of beating my head against the wall. Once was a client and the other
it's not a client, and itjust makes me realize that there's so many
people out there that have not realwith their trading. Now, you may
have heard about the experiment. Idon't know who did it. It was
(01:03):
quite some number of years ago wherethey got a bunch of kids, put
them in a room and they saidto them. They put like a swee
or Lolli chocolate in front of themand said you can have one right now,
but if you wait, you know, fifteen minutes, we'll give you
three. And of course most ofthe kids go, I'm just going to
(01:26):
take the one name they can't comprehend. You know, if you just wait
for a little bit longer, you'llget three times demand for just a little
bit of you know, dedication.And that was a kid's experiment. Now
I think that the same logic,unfortunately applies to so many adults today as
(01:46):
well. Now, whether it's meshowing my age or what, I don't
know, but whether it's you know, an instant gratification thing, whether it's
a cell phone thing, an internetthing, a net for thing, you
know, an uber thing, everythingjust seems to be instant, and people,
unfortunately don't seem to be able toa lot of people anyway, don't
(02:09):
seem to be able to accept therealities of hard work, dedication and a
bit of time, commitment and effortand also not an instant answer and an
instant fix. Now I want totalk about that because I think that you've
got to get your head around thatif you're going to give yourself a realistic
chance of being a successful trader,Because everybody wants to know how much am
(02:32):
I going to make, how longis it going to take me, how
much do I need in my caount, how many prop firms do I need
it? Or all these how towatch the answer without actually figuring out that
they need to actually study and listento people that have done this before and
not only ask questions, but whensomeone gives you an answer, in their
(02:55):
best interest is to help you listento that answer and possibly accept it.
And I find that people struggle todo that. And maybe it's because it's
not the answer that they want,or it's not the quick fixed solution.
It's not that you're going to becomea multi millionaire next week solution. It's
(03:17):
and and that kind of thing Ijust I strugg with. I suppose,
because I suppose that era where youknow, you did the hard work moving
to New Zealand with a couple ofsuitcases to the other side of the world,
you know, with no internet backthen and no cell phones. You
(03:38):
know. You I worked on adairy farm where I worked basically for a
guy who was the worker, youknow, And so you milk cows.
You basically washed the yard down,and you wash koupo down a whole at
nighttime, you know, But sofar and properly you've got to go through
the whole, step by step process. Have known what to do as many
(04:01):
of you know, we've done alot of martial arts in the past.
I don't do that now, butyou know, it's the same thing.
You've got to learn from the bestand time, dedication. You're not going
to become a black belt within fiveyears. This is not going to happen.
You know, I learned to flyhelicopter. You always keep learning.
I'm right now learning to play guitar. You just keep learning. You've got
(04:24):
to keep practicing, got to keepat it if that's what you want to
do. And trading is exactly thesame. So just wanted to put that
bit of a reality check out there. You know, just expect the ups
and downs. Expect that there willbe days, weeks, trades months sometimes
that aren't going to go in yourfavor. Even if you follow someone,
even if you join and follow us, not every trade's going to be successful.
(04:46):
That's the reality of it. Butalso we have mechanisms and proof and
longevity in place to say that ifyou do this consistently and you have your
low risk in the high reward torisk, all those things that I constantly
talk about, that it will work. But you just got to stick at
it. It's no good doing itfor a few months and go, oh,
it's not working for me, andI can't make it work. And
(05:09):
then also the other thing that Ifound a little bit annoying recently is that
someone else jumps in and tries tohelp out, and then the odd person
gets grumpy with the person that's tryingto help them. And it's like,
you cannot get grumpy with someone that'sgiving up their time there, you know,
their day to try and help you. You cannot get grumpy if someone
(05:31):
following the system is doing really reallywell and you're not. Maybe they've been
at it longer, maybe they putmore time and effort into it. You
know, there's all those type ofthings. So that was my wanting to
get that kind of message across becauseit's just something that you've got to be
real about this. You've got toput time, effort, dedication in.
Accept things aren't going to go alwaysto plan. That's life, that's trading.
(05:57):
If you can't accept that, don'tstart, it would be my message.
But if you do want to start, and you do accept that as
a reality, no better place thanto have a look at us. We've
just passed four thousand clients. I'vebeen through the course. We're getting close
to our fifteenth birthday, which isin May, and we're very proud of
that fact that ninety nine percent ofpeople do incredibly well. It's just the
(06:18):
one percent from time to time.But that's life. You can't please all
the people all the time. Soif you'd like to have a chat with
myself one of the team, I'mgoing to put a link for a booking
session on here. If you've notbeen on my one hour masterclass to find
out how we trade, you cando that as well. And if you're
out there looking for a really goodbroker, can highly recommend Blueberry Markets across
(06:41):
in Australia, so I'll put alink to them as well. That's it
for this week. Next week I'mgoing to have more trade and tips and
information for you, more practical tips. Today was just a bit of a
that's happening in the last week orso. I wanted to kind of get
that off my chest, put thatacross there and make you understand that if
you're going to do properly, bereal about it. I hope that helps.
(07:01):
I'll see this time next week byfor nighte mm hmm.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.