March 10, 2024 • 5 mins
Forex Trading's Preflight Check: Building Your Plan 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 Click Here to Watch Prop Firm Masterclass #539:Forex Trading's Preflight Check: Building Your Plan In this video: 00:34 – Heading off for a flight and carrying out my checks. 02:01 – You need a trading plan. 03:00 – Put in the time to ensure a good outcome with your trading. 03:45 – The market does not have even trading conditions. 04:42 – Trade through Blueberry Markets. 05:06 – Attend my Masterclass, Prop Firm webinar and book a call with us. Today, I'm going to discuss the importance of learning to plan properly, planning your training, See now exactly what you're doing, whether you're flying a helicopter like behind me here, or if you're trading the forex market, you have to plan properly. Otherwise, you plan to fail. Let's get into that a more right that. Hey there, Traders! Andrew here, at the Forex Trading Coach, a video and podcast number 539. Heading off for a flight and carrying out my checks. As you can see, I'm out at the hanger. I'm heading off tomorrow morning. Quite early on a flight, quite a long flight, probably about a three and a half hour return flight. And so as a result of that, I'm spending some time here today when there's no pressure and I'm going through my entire preflight and doing all my checks. I've got my my flight plans here. I've got my airports where I'm going to inside here. I've covered everything I need to know in terms of the cockpit. I've got a huge manual here. It's about 800 pages that's just specific to this machine. And on that, I have to know all that. Of course, long before today. But you know, you've got to keep updated on that. I've been through the machine here. I've checked through and, you know, engines and oils and up on the rotor blades there. I've checked everything. All my preflight checks and the tail here, everything is checked. My fuels good is clean. It's all on board. I know exactly what I've got. I know where I'm going. I know my radio calls. I'm discharging my headsets up. So that's ready. I've got a spare batteries. I've got my iPad. I've got my phone. I've got everything I need to know to do the flight properly, safely, and, you know, to get a good outcome and enjoyable experience for everybody on board and to know what's going to you know, we're going to get there safely and just have a great day. You need a trading plan. So me doing this is no different to me trading. You know, I've got my plan and this is what I want to stress to you, that I just see so many people that don't have a plan, don't know what they're doing. You wouldn't believe the number of emails that I get saying, Look, I've been trading for six months and I go back and I go, Great, Well, you've obviously got a problem because you're contacting me. So. So what are you doing? And they go, I'm just putting on, you know, one lot on this trade and I'm trading, you know, different times of the day. They trading. They don't know what they're trading. They see something all that, let's say a daily chart that's telling a buy on an hourly chart. They're saying sell. They don't know what to do. There's no light, there's no money management, there's no risk management. There's no no, no strategy at all. They don't know why they're doing what they're doing. They just know they want to trade forex. And because they're probably seen it's really good and seen something on YouTube or somewhere. Put in the time to ensure a good outcome with your trading. And that becomes the problem is that people don't put enough preparation time into learning the skill that they want to be good at. And you know, it's like anything is like flying this thing. There is nothing that beats flying.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Today I'm going to discuss the importanceof learning to plan properly, planning your
trading so you know exactly what you'redoing. Whether you're flying a helicopter like
behind me here, or if you'retrading the forest market, you have to
plan properly otherwise you plan to fail. Let's get into that more right now.
(00:28):
Hey, the trader is Andrew hereat the Forest Trading Coach for video
and podcast number five hundred and thirtynine. As you can see, I'm
made at the hangar. I'm headingoff tomorrow morning quite early on a flight,
quite a long flight, probably abouta three and a half hour return
flight. And so as a resultof that, I'm spending some time here
today when there's no pressure, andI'm going through my entire pre flight.
(00:51):
I'm doing all my checks. I'vegot my flight plans here, I've got
my airports where I'm going to insidehere, I've covered everything I need to
know in terms of the cockpit.I've got a huge manual here. It's
about eight hundred pages that's just specificto this machine and on that. I
(01:11):
have to know all that, ofcourse long before today, but you know
you've got to keep updated on thatI've been through the machine here, I've
checked through you know, engines andoils, and up on the road of
blades there, I've checked everything,all my pre flight checks. Down the
tail here, everything's checked. Myfuel's good, it's clean, it's all
(01:34):
on board. I know exactly whatI've got, I know where I'm going,
I know my radio calls. I'mjust charging my headsets up so that's
ready. I've got spared batteries.I've got my iPad, I've got my
phone. I've got everything I needto know to do the flight properly,
safely, and you know, toget a good outcome and enjoyable experience for
everybody on board, and to knowwhat's going to you know, we're going
(01:57):
to get there safely and just havea great day. So me doing this
is no different to me trading.You know, I've got my plan,
and this is what I want tostress to you that I just see so
many people that don't have a plan, don't know what they're doing. You
wouldn't believe the number of emails thatI get saying, look, I've been
trading for six months and I goback to them and go, great,
(02:20):
Well, you've obviously got a problembecause you're contacting me, so so what
are you doing? And they goon, I'm just putting on, you
know, one lot on this tradeand I'm trading, you know, different
times of the day. They're trading. They don't know what they're trading.
They see something on that let's saya daily chart that's telling them buy.
On an hourly chart, they're seeingsell. They don't know what to do.
There's no like, there's no moneymanagement, there's no risk management,
(02:45):
there's no strategy at all. Theydon't know why they're doing what they're doing.
They just know they want to tradeforests because they've probably seen it's really
good and seen something on YouTube orsomewhere. And that becomes the problem is
that people don't put enough preparation timeinto learning the skill that they want to
be good at. And you know, it's like anything, it's like flying
(03:07):
this thing. There is nothing thatbeats flying helicopter is the most amazing machine
that's ever been invented. You knowwhat you can do, but you know,
there's a good year at least ofhard work. There's exams as reading
this, you know, there's allthe training you go through, the expense
of it all the you know,the frustration that comes with it, you
(03:27):
know the ups and downs that comewith it. Is easy, absolutely not,
Otherwise everybody would be doing it,and trading is no different. You
have to expect to put some time, some dedication, some expense, some
ups and downs. You know,through your learning process and when you're trading
as well. Now you know thatthe market's not a straight line. You
know that, you know, let'sface it, twenty twenty four. So
(03:51):
far for the forest market, it'sbeen fairly quiet. There's not been a
lot of really great activity. It'sjust the way it is, you know.
You know that's part of trading.You take the ups and the dans,
but you control your risk. Youknow what you're doing. You have
high reward to risk trades, butyou have your plan. You know what
you're looking at, what patterns you'relooking at. If you're trading news,
(04:12):
you know what you're looking for.Whatever strategy you have, you know exactly
what to look for, when tolook, what pairs to look at,
what time frame chants to look at. When you're exiting a trade, or
even when you're entering a trade,how are you entering it, how are
you getting out? Of the trade. All those type of things, you
have all that planned pre planned inadvance, so I really encourage you to
do that. If you need anyhelp at all with any trade planning,
(04:36):
please feel free to reach out andsend me an email Andrew at thefrest Trading
Coach dot com. If you're outthere looking for a really good broke,
I can highly recommend Blueberry Markets overin Australia, a great bunch of people,
great trading platforms. Their empty fiveplatform has so many markets on it.
I've been with them for years,I know them, I've been to
(04:57):
meet them in person. Just canhighly highly recommend Blueberry Markets. If you're
looking for a broker, I'll puta link to them below this video and
podcast as well. If you've notbeen on my masterclass yet, I encourage
you to do that. I'll puta link to that. If you've not
seen the podcasts and the video webinarsorry that I did with a fight per
Center's prop firm company a few weeksago, I'll put a link to that
(05:18):
as well as about an hour webinarthat I presented how to pass prop firm
challenges. So if you want tocool with us, I'll put a link
to that as well, so youcan book a call and discuss your trading
with us. Hope that helps.Any questions you have please, as I
said, leave a comment, emailme. We're here to help. This
is Andrew Forest Trading Coach. Icarry on with my pre flight. You
(05:39):
carry on with your trading planning andmake sure it works by for no
Today I'm going to discuss the importanceof learning to plan properly, planning your
trading so you know exactly what you'redoing. Whether you're flying a helicopter like
behind me here, or if you'retrading the forest market, you have to
plan properly otherwise you plan to fail. Let's get into that more right now.
(00:28):
Hey, the trader is Andrew hereat the Forest Trading Coach for video
and podcast number five hundred and thirtynine. As you can see, I'm
made at the hangar. I'm headingoff tomorrow morning quite early on a flight,
quite a long flight, probably abouta three and a half hour return
flight. And so as a resultof that, I'm spending some time here
today when there's no pressure, andI'm going through my entire pre flight.
(00:51):
I'm doing all my checks. I'vegot my flight plans here, I've got
my airports where I'm going to insidehere, I've covered everything I need to
know in terms of the cockpit.I've got a huge manual here. It's
about eight hundred pages that's just specificto this machine and on that. I
(01:11):
have to know all that, ofcourse long before today, but you know
you've got to keep updated on thatI've been through the machine here, I've
checked through you know, engines andoils, and up on the road of
blades there, I've checked everything,all my pre flight checks. Down the
tail here, everything's checked. Myfuel's good, it's clean, it's all
(01:34):
on board. I know exactly whatI've got, I know where I'm going,
I know my radio calls. I'mjust charging my headsets up so that's
ready. I've got spared batteries.I've got my iPad, I've got my
phone. I've got everything I needto know to do the flight properly,
safely, and you know, toget a good outcome and enjoyable experience for
everybody on board, and to knowwhat's going to you know, we're going
(01:57):
to get there safely and just havea great day. So me doing this
is no different to me trading.You know, I've got my plan,
and this is what I want tostress to you that I just see so
many people that don't have a plan, don't know what they're doing. You
wouldn't believe the number of emails thatI get saying, look, I've been
trading for six months and I goback to them and go, great,
(02:20):
Well, you've obviously got a problembecause you're contacting me, so so what
are you doing? And they goon, I'm just putting on, you
know, one lot on this tradeand I'm trading, you know, different
times of the day. They're trading. They don't know what they're trading.
They see something on that let's saya daily chart that's telling them buy.
On an hourly chart, they're seeingsell. They don't know what to do.
There's no like, there's no moneymanagement, there's no risk management,
(02:45):
there's no strategy at all. Theydon't know why they're doing what they're doing.
They just know they want to tradeforests because they've probably seen it's really
good and seen something on YouTube orsomewhere. And that becomes the problem is
that people don't put enough preparation timeinto learning the skill that they want to
be good at. And you know, it's like anything, it's like flying
(03:07):
this thing. There is nothing thatbeats flying helicopter is the most amazing machine
that's ever been invented. You knowwhat you can do, but you know,
there's a good year at least ofhard work. There's exams as reading
this, you know, there's allthe training you go through, the expense
of it all the you know,the frustration that comes with it, you
(03:27):
know the ups and downs that comewith it. Is easy, absolutely not,
Otherwise everybody would be doing it,and trading is no different. You
have to expect to put some time, some dedication, some expense, some
ups and downs. You know,through your learning process and when you're trading
as well. Now you know thatthe market's not a straight line. You
know that, you know, let'sface it, twenty twenty four. So
(03:51):
far for the forest market, it'sbeen fairly quiet. There's not been a
lot of really great activity. It'sjust the way it is, you know.
You know that's part of trading.You take the ups and the dans,
but you control your risk. Youknow what you're doing. You have
high reward to risk trades, butyou have your plan. You know what
you're looking at, what patterns you'relooking at. If you're trading news,
(04:12):
you know what you're looking for.Whatever strategy you have, you know exactly
what to look for, when tolook, what pairs to look at,
what time frame chants to look at. When you're exiting a trade, or
even when you're entering a trade,how are you entering it, how are
you getting out? Of the trade. All those type of things, you
have all that planned pre planned inadvance, so I really encourage you to
do that. If you need anyhelp at all with any trade planning,
(04:36):
please feel free to reach out andsend me an email Andrew at thefrest Trading
Coach dot com. If you're outthere looking for a really good broke,
I can highly recommend Blueberry Markets overin Australia, a great bunch of people,
great trading platforms. Their empty fiveplatform has so many markets on it.
I've been with them for years,I know them, I've been to
(04:57):
meet them in person. Just canhighly highly recommend Blueberry Markets. If you're
looking for a broker, I'll puta link to them below this video and
podcast as well. If you've notbeen on my masterclass yet, I encourage
you to do that. I'll puta link to that. If you've not
seen the podcasts and the video webinarsorry that I did with a fight per
Center's prop firm company a few weeksago, I'll put a link to that
(05:18):
as well as about an hour webinarthat I presented how to pass prop firm
challenges. So if you want tocool with us, I'll put a link
to that as well, so youcan book a call and discuss your trading
with us. Hope that helps.Any questions you have please, as I
said, leave a comment, emailme. We're here to help. This
is Andrew Forest Trading Coach. Icarry on with my pre flight. You
(05:39):
carry on with your trading planning andmake sure it works by for no
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