I started learning about forex training back in January 2016; I had a guy i knew from high school tell me he was trading and that he was making money. He showed me screenshots of his account balance and that eventually made me want to learn.
The biggest reason why i want to be a successful forex trader is because of the fact that you get FREEDOM. If you want to trade. trade. If you don’t want to and feel lazy that day, don’t trade. IF you want to travel to Japan for vacation, you can STILL trade and make a living while enjoying yourself. Just the idea of being free and being able to do what you want and when you want. This is the biggest reason I want to trade.
While learning from babypips.com; i was demo trading to implement the things i was learning. If i was learning about moving averages i would strictly trade with moving averages only. That is the best way that i learn. Now i also made the mistake of LIVE trading when i didn’t complete school of pipsology. This was a huge mistake. I lost about $2k CAD. This was a huge learning point for me BUT also a huge awakening for me. It showed me i was nowhere near ready to start trading. So i now i am more eager to learn and become the best trader i can.
I really do want this to be my profession, but i also know it will take time and LOTS of effort. I do currently work a full time job but i do eventually want to quit. Now i know that this won’t happen for a long time but i am 100% going to put in the effort to learn and perfect as much as i can.
Now my question for you lovely people is, after completing the school what should my next step be?
What i still want to do is review a bunch of trading systems and plans and eventually creating my own personalised one. But after that; i don’t know how i am going to expand my knowledge about forex. Just like they said in school, I’ve only scratched the surface and have a long way to go. I want to continually educate myself and become the best forex trading I can.
I lost a lot of hard cash too in the past GAMBELING the markets, I thought I was trading tho.
Create your own system or follow a verified system that works in a specific market condition and just master that one thing.
Don’t do what I did and still am prone to silly ideas of adding and taking away things as you go. learn one type of trading technique for a particular type of market condition and just do that all the time time after time until you automatically start to know what to expect. Don’t try and learn everything there is simply just too much what you need to know is on a clean chart the price and the time.
Goodluck
There will be a wide range of opinions on that question, Bob: it’s never an easy question to answer, partly because people vary so much in their learning needs, styles and abilities.
If me, so far only treat forex still as part time business only, and i think more comfortable with treat forex as part time because risk in trading always involved and not always we can analyze the trend market accurate all the time, but yes actually forex very promising this can making trader get financial freedom, and we also can trade anytime anywhere as long as having device and can login account
the difference between a professional and an ordinary trader is practice focused on what you are good at. find your space in the trading world, where you are good at and then try to perfect it. someone elses space might suit someone else but doesnt meant it suites you.
for example all of us know how to drive a car (you just learned the basics in babypips school) but to win races you must become muucchh better and practice much more.
books
learn
practice
repeat
now you learned the basics. next step is to deepen your knowledge in these basics. the next step is to find out your own psychology / nervocity= so to say where you feel fit and good in acting in the markets. then you perfect those and once you managed those 2 points you will become profitable. to become very good or extraordinary you need more then those 2 points.
so id suggest you now books that help your own psychology in handling positions. so to say books that let you find out how you keep a calm head while loosing or winning money. thats 80% of trading and the biggest difference between a sucessfull and a not sucessfull trader.
Let’s back up a bit, and I am going to ignore June 2014 join date. You say you have a high school friend who is making money trading forex, and he shared his account balance to verify that. Must be a very good friend to share such information. So why are you not just following what your friend is doing, if he has found an edge and is making money. There is little you can get from this site that can compare to a apprenticeship under a successful trader. Am I missing something
Hey man; i wouldn’t consider him a close friend. More of someone i knew from high school. I have asked him to become my mentor in the past but the thing is he told me to finish learning from babypips.com
Now the reason why i don’t ask him to mentor me now is because every time i ask him whats hes up to; can you teach me how you trade etc. Its the same excuse " Im already teaching a bunch of other people"
And the main thing is because, i’ve asked him on plenty of separate occasions and hes always trying to sell me a new program. He 100% is profitable but i feel like hes just trying to sell me stuff. Hes told me about 3 different trading programs / plat forms.
He never had the reputation of being a trustworthy person.
And to answer your questions about the join date 2014; i looked into forex trading then but it was more of an interest vs something i was willingly to learn about.
Once i was new in Forex, i have learned all the concept with my self. No one has teach me how to work with trading. I have search a lot more things on internet and learned it. Created own system and strategy so that i can have good profit with Forex.
Study and practise, study and practise. And so on, and so forth. That is the only way to success, and it’s a long, difficult road fraught with problems. I hope you will succeed.