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#601: Why Quality Trades Beat Quantity in Forex Trading

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Manage episode 500788852 series 1567435
Content provided by Online Forex Trading Course. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Online Forex Trading Course or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Why Quality Trades Beat Quantity in Forex Trading

<span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span>

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

Click Here To Follow my 30 Trader US Update

#601: Why Quality Trades Beat Quantity in Forex Trading

In this video:
00:36 – Trading from the US while on vacation.
01:00 – July and August can give us tougher trading conditions.
01:58 – Less trades but focus on higher quality trades.
03:00 – Look at a variety of time frame charts.
04:01 – Get onto my 17 minute masterclass.
04:08 – Blueberry Markets as a Forex Broker.
04:11 – Have a chat with us, ask us a question.

Andrew Mitchem
As you probably know, if you’ve been trading for any length of time, what time of year you trade can also make a big difference in your trading. Currently, summer here on holiday in the US with Paul Tillman and sometimes the summer conditions are not always the best, but we are heading towards the end of the northern hemisphere summer and, good conditions ahead. So let’s get into more right now.

Andrew Mitchem
Hey, traders! Andrew here at The Forex Trading Coach with video on podcast number 601.

Trading from the US while on vacation.

Currently on holiday in the US for vacation. Been here for a few weeks. And currently with Paul Tillman and his family here in North Carolina. Currently at Grandfather Mountain a little bit hard to see behind us. We’re up in the mist at just over 5000ft.

Andrew Mitchem
Point of this video though, is that we’re here trading as normal whilst on vacation or on holiday, and we’ve had a couple of really good weeks since I’ve been here.

July and August can give us tougher trading conditions.

And despite that, we are in the kind of the quiet time of year and Paul living here will know more about that. But northern hemisphere summertime, July, August can sometimes be tricky conditions.

Andrew Mitchem
But as Paul is going to explain to you, we’re heading out of those conditions and into some good ones between now and Christmas.

Paul Tillman
Right? So right now a lot of people are on vacations, holidays, school is out. A lot of good weather. People are out traveling. So the volumes just naturally going to be lower. Not as many people trading. So the conditions are what are it tougher or more sideways price action? Not as much. In terms of defined trends up and down trading conditions are are okay, but they’re not great.

Paul Tillman
Definitely see better. Earlier in the year, before the northern hemisphere summer, and we’re coming into, a nice time here in the US fall all the way up to Christmas. We’re trading conditions will be very, very nice. We’ll have much better trends and, much more quality and high probability setups to pick..

Less trades but focus on higher quality trades.

Andrew Mitchem
So the important thing is there is that although we’ve had some great trades, we haven’t had a lot of trades. And so it’s more about the quality of the trades that you take. And so each day we go through the daily charts and just yesterday we had two trades on the daily charts at the beginning of this week.

Andrew Mitchem
And we also had seven trades on the weekly chart.

Paul Tillman
Lots of those.

Andrew Mitchem
Yet the week before we had very few on the weeklies. But we did have a few trades for the month of August. So we’re looking on the completion of a candle on the close of a candle, but we’ve been very selective on the trades that we do take because of these conditions.

Andrew Mitchem
So it’s really important to remember it’s the quality of the trades that you take. Not so much the quantity. We’ve been really selective on the trades we’ve taken over the last couple of weeks. Just two trades yesterday on the dailies, but seven weekly chart trades and not so many on the shorter time frame charts just because of the nature of the market conditions right now.

Andrew Mitchem
But as Paul mentioned, you know, we are turning into that sort of August into September time. Where are you going to get better trading conditions? So more important to, to look at the charts on the close of the candle. But also you’re probably going to find more shorter time frame opportunities as well.

Look at a variety of time frame charts.

Paul Tillman
That’s right. The great thing is our strategy works on all the time frames everything. Now we trade as low as 30 minutes or 1 hour all the way up to monthly. So lots of opportunities. You don’t have to try to, you know, do 50 or 60 trades in a week. As Andrew mentioned, it’s all about, quality of the trade more than quantity.

Paul Tillman
I was telling, coaching client, the other day that, you know, would you rather make 50 trades and make a couple percent a week or make ten trades in a couple of week? And obviously, the less trading, the better. Go out, do stuff with your family, go live the rest of your life outside of trading. So it’s all about that quality trades and those trading conditions are going to turn right for us here shortly.

Andrew Mitchem
Yes. Right. Exactly like right now. We, about 2:15 local time. So we’ve got like, almost another 2.5 hours before we even need to look at our charts today and that, today being a, a Monday here, we’ll be looking at the daily charts. And also we scan through 12 hours, 8 hours and 6 hours at that 5PM New York change of day. So be really selective. Look at the markets and the time frames that are showing the best setup.

Get onto my 17 minute masterclass.

Andrew Mitchem
Now, if you haven’t been on our masterclass, you can click on the link here to a short 17 minute on demand masterclass.

Blueberry Markets as a Forex Broker.

Andrew Mitchem
If you are looking for a good, high quality broker, I’ll put a link here to Blueberry Markets.

Have a chat with us, ask us a question.

Andrew Mitchem
And of course, if you have any comments for myself or Paul or questions or trading topics conversations that you’d like us to talk about on future videos and podcasts just like this one, leave a link below and we’ll be glad to help answer that for you and to enhance your trading.

Andrew Mitchem
So once again, this is Andrew Mitchem and Paul Tillman here in North Carolina having a great time on vacation with see in this time next week. Bye for now. Bye for now.

Episode Title: #601: Why Quality Trades Beat Quantity in Forex Trading

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

Click Here To Follow my 30 Trader US Update

  continue reading

499 episodes

Artwork
iconShare
 
Manage episode 500788852 series 1567435
Content provided by Online Forex Trading Course. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Online Forex Trading Course or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Why Quality Trades Beat Quantity in Forex Trading

<span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span>

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

Click Here To Follow my 30 Trader US Update

#601: Why Quality Trades Beat Quantity in Forex Trading

In this video:
00:36 – Trading from the US while on vacation.
01:00 – July and August can give us tougher trading conditions.
01:58 – Less trades but focus on higher quality trades.
03:00 – Look at a variety of time frame charts.
04:01 – Get onto my 17 minute masterclass.
04:08 – Blueberry Markets as a Forex Broker.
04:11 – Have a chat with us, ask us a question.

Andrew Mitchem
As you probably know, if you’ve been trading for any length of time, what time of year you trade can also make a big difference in your trading. Currently, summer here on holiday in the US with Paul Tillman and sometimes the summer conditions are not always the best, but we are heading towards the end of the northern hemisphere summer and, good conditions ahead. So let’s get into more right now.

Andrew Mitchem
Hey, traders! Andrew here at The Forex Trading Coach with video on podcast number 601.

Trading from the US while on vacation.

Currently on holiday in the US for vacation. Been here for a few weeks. And currently with Paul Tillman and his family here in North Carolina. Currently at Grandfather Mountain a little bit hard to see behind us. We’re up in the mist at just over 5000ft.

Andrew Mitchem
Point of this video though, is that we’re here trading as normal whilst on vacation or on holiday, and we’ve had a couple of really good weeks since I’ve been here.

July and August can give us tougher trading conditions.

And despite that, we are in the kind of the quiet time of year and Paul living here will know more about that. But northern hemisphere summertime, July, August can sometimes be tricky conditions.

Andrew Mitchem
But as Paul is going to explain to you, we’re heading out of those conditions and into some good ones between now and Christmas.

Paul Tillman
Right? So right now a lot of people are on vacations, holidays, school is out. A lot of good weather. People are out traveling. So the volumes just naturally going to be lower. Not as many people trading. So the conditions are what are it tougher or more sideways price action? Not as much. In terms of defined trends up and down trading conditions are are okay, but they’re not great.

Paul Tillman
Definitely see better. Earlier in the year, before the northern hemisphere summer, and we’re coming into, a nice time here in the US fall all the way up to Christmas. We’re trading conditions will be very, very nice. We’ll have much better trends and, much more quality and high probability setups to pick..

Less trades but focus on higher quality trades.

Andrew Mitchem
So the important thing is there is that although we’ve had some great trades, we haven’t had a lot of trades. And so it’s more about the quality of the trades that you take. And so each day we go through the daily charts and just yesterday we had two trades on the daily charts at the beginning of this week.

Andrew Mitchem
And we also had seven trades on the weekly chart.

Paul Tillman
Lots of those.

Andrew Mitchem
Yet the week before we had very few on the weeklies. But we did have a few trades for the month of August. So we’re looking on the completion of a candle on the close of a candle, but we’ve been very selective on the trades that we do take because of these conditions.

Andrew Mitchem
So it’s really important to remember it’s the quality of the trades that you take. Not so much the quantity. We’ve been really selective on the trades we’ve taken over the last couple of weeks. Just two trades yesterday on the dailies, but seven weekly chart trades and not so many on the shorter time frame charts just because of the nature of the market conditions right now.

Andrew Mitchem
But as Paul mentioned, you know, we are turning into that sort of August into September time. Where are you going to get better trading conditions? So more important to, to look at the charts on the close of the candle. But also you’re probably going to find more shorter time frame opportunities as well.

Look at a variety of time frame charts.

Paul Tillman
That’s right. The great thing is our strategy works on all the time frames everything. Now we trade as low as 30 minutes or 1 hour all the way up to monthly. So lots of opportunities. You don’t have to try to, you know, do 50 or 60 trades in a week. As Andrew mentioned, it’s all about, quality of the trade more than quantity.

Paul Tillman
I was telling, coaching client, the other day that, you know, would you rather make 50 trades and make a couple percent a week or make ten trades in a couple of week? And obviously, the less trading, the better. Go out, do stuff with your family, go live the rest of your life outside of trading. So it’s all about that quality trades and those trading conditions are going to turn right for us here shortly.

Andrew Mitchem
Yes. Right. Exactly like right now. We, about 2:15 local time. So we’ve got like, almost another 2.5 hours before we even need to look at our charts today and that, today being a, a Monday here, we’ll be looking at the daily charts. And also we scan through 12 hours, 8 hours and 6 hours at that 5PM New York change of day. So be really selective. Look at the markets and the time frames that are showing the best setup.

Get onto my 17 minute masterclass.

Andrew Mitchem
Now, if you haven’t been on our masterclass, you can click on the link here to a short 17 minute on demand masterclass.

Blueberry Markets as a Forex Broker.

Andrew Mitchem
If you are looking for a good, high quality broker, I’ll put a link here to Blueberry Markets.

Have a chat with us, ask us a question.

Andrew Mitchem
And of course, if you have any comments for myself or Paul or questions or trading topics conversations that you’d like us to talk about on future videos and podcasts just like this one, leave a link below and we’ll be glad to help answer that for you and to enhance your trading.

Andrew Mitchem
So once again, this is Andrew Mitchem and Paul Tillman here in North Carolina having a great time on vacation with see in this time next week. Bye for now. Bye for now.

Episode Title: #601: Why Quality Trades Beat Quantity in Forex Trading

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

Click Here To Follow my 30 Trader US Update

  continue reading

499 episodes

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