Unbiased Forex Broker Experts

1. From Dairy Farmer to Forex Trader

From a dairy farmer to a Forex trader, can you believe it? Well, that’s my story in a sentence. I want to talk about my background because I think it’s really important that you get to understand a little bit about me. Where I was from and where I’ve eventually got to so that it can help you become a trader if that’s what you want to be.

You see I don’t have a background in a market in terms of I have never worked in London or the New York Stock Exchange or anything like that. I don’t have a business degree as such, so I think it is a really important point to make that anyone can become a successful Forex Trader, if you have the right application and dedication and determination. So that’s the first point that I want to make because I don’t want you to think, “well, he’s been to business school, or his dad was a stock trader”, or anything like that because it’s not the case at all.

I was born in England but in 1995 I took a holiday/vacation to New Zealand and fell in love with the Country.

I was born on a dairy farm. My parents are dairy farmers and we had a herd of about 150 milking cows. My parents worked extremely hard in all weather and all conditions every day of the year. Starting at 5:00 a.m. and finishing at or around 6:00 or 7:00 p.m, seven days a week. It was very, very hard work. I learnt all about determination, the dedication, the perseverance, taking the knocks and the getting back up again.

I suppose that it was something as farmers you have no choice about. You see it doesn’t matter whether it is your birthday or Christmas day or if you are feeling a bit under the weather you’ve got to do the work. Looking back on my childhood and my upbringing, that was an amazing experience and learning curve and a work ethic that was installed in me from watching my parents and also grandparents working.

It’s something that I have been really conscious to carry through my working life and it’s definitely something that’s been very high priority within my Forex trading and also my coaching business as well. Honesty, hard work, good ethics, just telling the truth and helping people. When you do that you realise that it actually helps you learn and progress as well.

So, after falling in love with New Zealand in 1995 I decided I wanted to emigrate and in 1997 I arrived in New Zealand. I didn’t know a single person. Well, there was one person who I knew who was my boss but I had only met him for one afternoon about a year previous so you could really say I didn’t know anybody. I was on the other side of the world, in my very early twenties, with a couple suitcases and that was it. Off I went. That was a hard beginning. I suppose it was lonely to start with in some ways and not knowing anybody you you’ve got a sort of work your way up from the bottom and there’s only one way to go. However it was what I wanted to do. I always wanted to live in New Zealand from the first time I ever arrived here and I wanted to own a dairy farm. So they were my goals. By arriving on the plane to live I had already achieved the first goal.

So from there, I then decided to work on a farm to start with and eventually I built my way up through the system and I got to own my own dairy farm, which was an amazing achievement. I was very proud of the fact that I had achieved that so early on and at such a young age. It came from some perseverance again, it comes back to the same thing, you know, finding a way of making things work. Even though I am talking about my background in dairy farming I am sure you already can see how this can eventually lead to dedication and determination within the Forex market which came a number of years later.

What I then realised over time is that; yes I’d got to own my own dairy farm in New Zealand but the problem was is I was still working very hard, very long hours. Starting at 5:00 finishing probably around 7:00 in the evening so you know, sort of fourteen hour days, seven days a week.

I was doing all of the work myself and it is hard work. Although it is what I wanted to do it was very, very hard physically and mentally with no breaks. You don’t get a day off when you are farming. You can’t suddenly stop milking the cows because you want to go somewhere. It doesn’t happen. So the thing that I got to realise was that with a large amount of debt I was actually not in that much control over where I was heading.

The main things that affected me, in terms of my income, where things like the exchange rate with the New Zealand dollar against the U.S dollar, the payout of the milk, disease, limitation in terms of farm size, stocking numbers and the weather of course. These were all huge factors in whether or not you have a good or bad year and they were completely out of my control.

So a lot of things that affected my business back then were completely out of my control even though I had huge debt. When I think back on that as a Forex trader I have so much control. Sure I can’t control the market, but I can control so much in terms of when I enter a trade, when I exit, what position size I take etc. So I’ll talk about that more in a few chapters time when we start talking about the actual Forex trading.

However you can see how with very low set up costs in Forex trading you do actually have a lot of control. Whereas dairy farming with massive overheads, massive debt most of the things that affected my income where completely out of my control. I’ve got to be honest in saying it wasn’t really until I finished dairy farming did I actually see that.

Looking back on it, a lot of risk and lack of control with a business such as dairy farming. A lot of control and low risk and believe it or not low risk associated with Forex trading. Even though so many people will tell you it’s risky and it’s high risk it’s actually is not if you know how to trade correctly. Again, I’ll talk about more of that shortly.

So that was my background. I eventually achieved my goal of owning the farm. Yet only a couple of years later everything came crashing down. My wife was very ill at the time, we had a child, a boy who was around two years old and in the end I had to sell the farm. I actually lost half of everything because I went through a divorce. It was very hard of course, like anything like that would be. However, looking back on it, it opened up a complete new opportunity because once a farmer always a farmer, unfortunately. The problem is that most people stay in farming, or any industry for that matter, because they don’t know what else to do.

I was forced into something and at the time I had no idea what I was going to do. I had never heard of Forex. Yet, one morning while I was milking the cows I heard an advert on a radio station, on a sports station, and it was for a Forex course. Now I had no idea what Forex was and never heard of Forex really.

I had some idea about the New Zealand Dollar against the U.S. Dollar because that’s effectively as a dairy farmer how I was being paid, yet I had no idea about what Forex was. So anyway I thought, “well look, I don’t know what else I’m going to do”. Not long after finishing the farm I had my son to look after for the majority of the time by myself and so I needed to find something that was allowing me to work from home yet make an income and it needed to be something that was not farming related because I needed a break from farming.

I decided to take the course. It cost me over $5,000 New Zealand, which back then was a huge amount of money. The course was not that great but looking back on it, it got me into Forex trading. I instantly understood everything that the tutor was talking about and it really got me hooked on Forex trading. I got the bug, wanting to know more. You see I did many courses at the same time as that such as business courses, property courses and franchising courses. However it was the Forex course that was the one that really fascinated. It just seemed to be right.

I really didn’t know why at the time, but it just got me hooked. I was just excited by it and it seemed to be the perfect business. Of course, as we are going to find out very shortly, it’s a lot harder than it’s made out to be but at the time it just got me hooked.

So that’s my initial story of how I got into Forex trading. Next I’m going to talk more about my early days as a Forex trader. To view the video or download the mp.3 audio file please visit 

http://theforextradingcoach.com/andrew-mitchems-forex-book-signup.html


Comments

Andrew Mitchem
4 years ago,
Registered user
Hi Forex Trader,

As you probably well know if you've been trading Forex (or any other market) for a while, making money consistently is a much harder process than most people make it out to be.

Originally a dairy farmer, I started trading Forex in 2003 and I am a self-taught trader. I have been through the whole learning process that almost all traders will go through.

My book takes you through my Forex journey so far and along the way I have developed trading strategies, tips and ideas that I can pass on to you which will help short cut your own learning process - hopefully saving you much time, money and tears along the way.

"From Dairy Farmer to Forex Trader" proves that anyone can become a successful Forex trader if you have the perseverance and determination to succeed.

I hope you enjoy my story and I hope it inspires you to becoming a profitable and successful Forex trader.

Please use this thread to ask any questions you may have.

Happy Trading.

Andrew
ksmeeton1952
4 years ago,
Registered user
Thanks for posting that Andrew, its great. This is my third run at Forex, first time I lost my entire account, second time I mostly treaded water, didn't lose or gain, this time I'm better prepared. I'm looking forward to your posts, they have the a genuine "ring of truth" if you know what I mean. I'm a 25yr veteran from u/g gold mining, a job I loved. Worked in 14 different mines, in some gorgeous country from the Yukon, NWT, to Guatemala. Unfortunately my knees gave out (osteoarthritis) I need two knee replacements. So I'm taking a serious look at forex again. I like it a lot, and I know the value of learning more from someone who has "been there and done that". Cool
ferozshaikh
4 years ago,
Registered user
Hi Andrew. You are a gem of a person to make an honest disclosure of the path you have tread into forex. However, after venturing into forex trading I apply the same methodology in Indian stocks. I am discovering lot of things which is deja vu of what you have written. Please keep up the good work, though I am not as experienced as you may be in trading; I am just 8 months old, and treading a lonely path. It's a pleasure to read what you have written. Expecting rest of the material at an earliest. Best regards.
Andrew Mitchem
4 years ago,
Registered user
> Hi Andrew. You are a gem of a person to make an honest disclosure of the path you have tread into forex. However, after venturing into forex trading I apply the same methodology in Indian stocks. I am..

Hi Ferozshaikh,

Thank you for your reply. I appreciate your comments and I'm glad you like my book. I'll be releasing a chapter once per week on this site plus you can also get the video and audio file through my site. Just click on the link below to access this.
DudaoRJ
4 years ago,
Registered user
Hi Andrew, great book. Is there going to be more of it? You just said that Fibonacci was crap (these are actually my words... lol) and that you needed to discover something that was going to work for you. I'm eager to know what that is. :-)
Andrew Mitchem
4 years ago,
Registered user
> Hi Andrew, great book. Is there going to be more of it? You just said that Fibonacci was crap (these are actually my words... lol) and that you needed to discover something that was going to work for ..

Hi DudaoRJ,

Thank you, I'm pleased you are enjoying my book. All up there will be 20 chapters so there's a while to go yet.

I struggled with Fib levels initially. I do use them today in my trading but the way I use them is different to the traditional way they should be used - which as I've said in the book, I found very difficult to implement in real time. I'll be publishing the book on Amazon as a paperback plus on Kindle soon and I'll let you know when this is ready.

syrah
4 years ago,
Registered user
Hi Andrew, I have just read your book so far. I can relate to it really well as I too have been trading since 2003 with limited success. I have been doing a great deal of backtesting on Ichimoku. Do you use this signal? Looking forward to reading more from you. Happy trading :)
Andrew Mitchem
4 years ago,
Registered user
> Hi Andrew, I have just read your book so far. I can relate to it really well as I too have been trading since 2003 with limited success. I have been doing a great deal of backtesting on Ichimoku. Do y..

Hi Syrah,
I'm pleased to see you are enjoying reading my book. Sorry but I do not use Ichimoku.
I use price action along with various forms of candle patterns and support/resistance areas. Please see here fore more details:
Building Wealth With Forex - Online Forex Video Course | Online Forex Trading Course


david chin fong
4 years ago,
Registered user
Hi Andrew,
First time poster here, but long time lurker.
Your journey sounds very similar to mine, except that I'm still trying to become profitable in my own slow and comfortable way. I started to dabble with forex from about 2007. Bought the FX Chief CDs for $US2000 and listened to him speak at seminars. Tried to demo trade and not even that worked for me. Gave up after that for a few years then got back in with a friend. Didn't quite get the hang of it and jumped back out. Jumped back in last year and learnt pattern trading from a guy and started live. I'm also learning some new 'strategies' all of which have one thing in common: simplicity and uncluttered charts.
While my small live account has lost some money, my money management rules has allowed me to be able to take lots of losses without depleting my account. But what is important is that I'm slowly understanding the whole business of the trading psychology and not to get too emotional. Trading a live account, whilst it can teach you costly lessons, is a very valuable learning experience.
Successful trading I think takes hard work, discipline and perseverance and I'm committed to making it work for me. I'm giving myself 18 more months of continued slow and methodological trading before I consider myself to be fairly good at it.
I look forward to the rest of your story.
Take care.

David
mikef500
4 years ago,
Registered user
Great reading.

> Please use this thread for any questions, answers, and comments about Andrew Mitchem's book.



Hi Andrew. I am really enjoying your story. So much to learn being a newbie. Looking forwards to the next chapter.
Andrew Mitchem
4 years ago,
Registered user
> Hi Andrew,
First time poster here, but long time lurker.
Your journey sounds very similar to mine, except that I'm still trying to become profitable in my own slow and comfortable way. I started to ..

Hi David,

Thank you for taking the time to post your comments here. You are absolutely correct in what you say about good trading takes time. Far too often people write to me and they are looking for the magic pill that is going to make them financially free for no effort on their behalf. As the rest of us know, trading does take effort, commitment, an investment in your education and perseverance through the tough time. Without wishing to blow my own trumpet, that's why my coaching course has helped so many people become profitable - I've been there myself and the course, with the strategy that I trade with and the daily on-going help can drastically reduce the "learning curve" for people.

If you want more help with money management, make sure you download a free copy of my lot size calculator. Click on my signature at the bottom of this post. Thanks again David.

Andrew Mitchem
4 years ago,
Registered user
> Hi Andrew. I am really enjoying your story. So much to learn being a newbie. Looking forwards to the next chapter.

Hi Mike,

Thank you for your feedback. I appreciate your comments and I'm pleased to see you are enjoying my story.

Onyebuchim C. Obike
4 years ago,
Registered user
Money Management Rules and Discipline is truly a key principle to keep a healthy account. Is it possible you redesign your Money Management Tool to a standalone program that allows inputting of price figures then the program will display risk percentage, stop loss and any other guides that will minimize loss.
Andrew Mitchem
4 years ago,
Registered user
> Money Management Rules and Discipline is truly a key principle to keep a healthy account. Is it possible you redesign your Money Management Tool to a standalone program that allows inputting of price ..

Hi,

The lot size calculator, which is free on my site (or via the link below) is a great tool that helps you to keep your risk per trade at a known level. I also have a script that actually places the trade on your charts but I'm afraid that is only available to my coaching clients.

pomsky
4 years ago,
Registered user
Hi Andrew,
Your "book in progress" makes great reading. Well done!
Would want to know if you manage accounts.
Rgds!
Andrew Mitchem
4 years ago,
Registered user
> Hi Andrew,
Your "book in progress" makes great reading. Well done!
Would want to know if you manage accounts.
Rgds!

Hi Pomsky,

Thank you for your comments and I'm pleased to hear you are enjoying my book.

Yes managed accounts is something that I'm looking at starting again later this year. I'm in the process of establishing the formalities along with the possibility of bringing on board one or several of my coaching students who are trading well and who have expressed an interest in this business. Please send me an email so I can keep you updated andrew@TheForexTradingCoach.com

Onyebuchim C. Obike
4 years ago,
Registered user
How do you manage to keep a close eye on your trades and at the same time render this marvelous help to traders in your courses? Looking forward to more chapters and hoping to get the best out of it.
Andrew Mitchem
4 years ago,
Registered user
> How do you manage to keep a close eye on your trades and at the same time render this marvelous help to traders in your courses? Looking forward to more chapters and hoping to get the best out of it.

Thank you for your comment. The answer is easy, I choose to trade the longer time frame charts as I find they suit me better. I do trade the 15min and lower charts when holding my live trading room webinars for clients but most of the time I prefer the W1, D1, H4 and H1 charts.

For example, here are my H4 trade results from this week - very little chart time is required and I've taken just a handful of trades with only 8 of them being filled, see here
2014-03-28_1049 - TheForexTradingCoach's library


tommu
4 years ago,
Registered user
Hi Andrew,
I'm using your lot size calculator and must tell everyone that it's the most useful tool I've found to speed up the order entry process. Others are available, but none as efficient as this, and trying to calculate lot size myself when I was in a hurry to catch an entry point was really frustrating.
Andrew Mitchem
4 years ago,
Registered user
> Hi Andrew,
I'm using your lot size calculator and must tell everyone that it's the most useful tool I've found to speed up the order entry process. Others are available, but none as efficient as this,..

Hi tommu,

Thank you for your feedback about my calculator. You are right, it's a really useful trading tool. I'm pleased you are finding it helpful for your trading.

BillTheButcher
4 years ago,
Registered user
Hello Andrew.

I listened to your webinar last night (8:00 in the morning for you I think). I was so impressed that I signed up for the course immediately afterwards. :)

I started learning about ForEx in the summer of 2013. I opened a demo account in October 2013 and went live in February 2014. I've been in constant drawdown since I started and, although I was determined not to give up, I was also finding it really difficult to maintain positivity and determination in the absence of any kind of consistency.

What I heard in your webinar really struck a chord; I'm really looking forward to reading your e-book and working my way through your course.

Cheers.
Andrew Mitchem
4 years ago,
Registered user
> Hello Andrew.

I listened to your webinar last night (8:00 in the morning for you I think). I was so impressed that I signed up for the course immediately afterwards. :)

I started learning about ForE..

Hi Bill,

Thank you for your comments. It's great to read you like what you see and hear from me. I trade each day so what you get from me is experience and knowledge from a real trader.

I'm looking forward to help turn your trading around.

alphari
2 years ago,
Registered user
Thanks Andrew, for this wonderful book on forex trading.
I keep reading it over and over again like a Bible on forex trading.

One question, do you still provide signalling service?
I thought that would be a great way to start on forex, without losing a lot of money, especially for beginners like me. Thanks again.
Andrew Mitchem
2 years ago,
Registered user
Hi Alphari,

Thanks for your comments. I appreciate it very much as it's great you like my book so much.
I provide daily trades for my coaching clients, with the reasons for the trades, plus the exact entry and exit levels. These are designed to be more of a daily and on-going education and the "training of the eye" rather than designed to be specific trading signals.

Ultimately I am training my coaching clients how to become independent traders.

I hope this helps.