Trading Crypto’s, Commodities and Indices
Podcast:
Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#445: Trading Crypto’s, C...
Trading Crypto’s, Commodities and Indices
Podcast:
Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course - Click Here
#445: Trading Crypto’s, Commodities and Indices
In this video:
00:30 – Trading More Forex Pairs and Non-Forex Markets
01:40 – Choice of many Metals, Cryptos and Indices to trade
02:14 – A Sell trade on Coffee on the Monthly chart
03:05 – How things have changed in 1 year
04:28 – Don’t be concerned with only your local currency
04:47 – Changed to the MT5 platform
05:39 – Trading with Blueberry Markets
06:00 – Client passes $100k Prop firm challenge
We now have the opportunity to trade markets other than the forex market and we're having outstanding success at that. Let me explain more and how you can do the same right now.
Hey there trader, this is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 448.
Trading More Forex Pairs and Non-Forex Markets
Now being the Forex Trading Coach, we trade the forex market, no surprises there, but over the last year or so, most brokers are offering so much more. They're offering a lot more forex pairs than we used to traditionally have. We've got Swedish Krona, Norwegian Kroner, Hungarian Forint. We've got South the African Rand, Russian Ruble. Not that you probably want to be trading that right now, but you know, there's so many other markets out there. Currencies in Thai, all these others that... a few years ago, Singapore Dollar that you couldn't trade. And so what it's doing is offering us a lot more opportunities out there to scan through your charts and see, and take some trades.
But the other fantastic thing that we now have the opportunity to do, is to trade other markets other than the forex market. And over the last sort of six months or so, we've been getting into that a lot more because brokers are offering more. So therefore in the forex pairs, not only they're offering just the standard pairs, there are a lot more.
Choice of many Metals, Cryptos and Indices to trade
When it comes to the metals, it's not just gold and silver anymore. There's a lot more there's lead and platinum, titanium and all these other metals that you can trade. When it comes to cryptos, it's not just Bitcoin and Ethereum, there's lots more. When it comes to the indices, you've got the ability to trade so many different indices from around the world.
When it comes to the commodities, it's not just maybe something like wheat like it used to be or soybeans, there's so much more.
A Sell trade on Coffee on the Monthly chart
Give you a great opportunity and example of that is that, over my shoulder here, probably a bit hard to see behind me. I've just hit profit, just like a few hours ago on a monthly chart trade selling robusta coffee. Now you're going to have a look at your charts. Robusta coffee on the January monthly chart close. I took a sell trade. We look for a retracement, we got a beautiful retracement. And right now today being the 4th of March, we have just hit profit right today. That's made a 3.7 to 1 trade. I took it at the beginning of February when the January monthly chart closed for nothing with it since, and it just gone on hit profit. So it is literally a two minute see the trade, take the trade, forget about the trade. It just worked beautifully and it fell.
How things have changed in 1 year
Now, if I had been talking to you a year ago and said, "I'm making a sell trade or taking a sell trade on the monthly chart on coffee", I wouldn't have done it. I wouldn't have been talking about that because we didn't have the opportunity to trade markets like that. Over my other shoulder here, there's a great example of the German 30 index, which we took and we talked about this on our client's forum site. Last night my time at the 5:00 AM, New York changeover, the three hour and the six hour German 30 Index was setting up as a fantastic short p...
view more