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Andrew Mitchem: Successful Cattle Farmer Turned Forex Trader

Andrew Mitchem is a real-life example of someone who has achieved success in forex trading despite lacking an economic background. Here's his inspiring journey:

  1. 1. Journey from Radio


  2. Hearing forex course advertisements on the radio, Andrew Mitchem decided to learn forex trading through self-study. Despite lacking an economic background, he started his trading journey in 2003-2004. Initially, he experienced many failures and losses due to a lack of knowledge and proper strategies.

  3. 2. Motivation from Hardship


  4. As a former dairy cattle farmer in New Zealand, Andrew experienced tough times that led him to seek ways to earn additional income. Driven by this need, he decided to take a forex trading course despite the significant cost.

  5. 3. Early Struggles


  6. Andrew started trading with a $10,000 deposit and experienced significant profits in his first trades. However, like most new traders, he also faced substantial losses along his trading journey.

  7. 4. Development of Trading Method


  8. Through continuous experience and learning, Andrew began to develop his own trading method. He paid attention to good setups and Risk/Reward Ratio, relying on Daily chart analysis to find ideal trading opportunities.

  9. 5. Establishment of The Forex Trading Coach


  10. Based on his experience, Andrew founded The Forex Trading Coach course institution. Through this institution, he has helped many people from various countries learn forex trading and develop their trading skills.

  11. 6. Trading Approach


  12. Andrew Mitchem applies a patient trading approach and only takes positions if there are clear setups with a good Risk/Reward Ratio. He relies on Daily chart analysis and uses indicators and candlestick patterns to identify potential trading opportunities.

  13. 7. Balanced Risk/Reward Ratio


  14. Andrew uses a Risk/Reward ratio of around 1:3, meaning he only risks a small portion of his account on each trade with the potential for larger profits.

With discipline, perseverance, and the development of the right trading method, Andrew Mitchem has successfully achieved success in the world of forex trading. He serves as an inspiration for many people looking to start their trading journey.

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