Always learn through a successful mentor and go for paid education

Trading Discussion
13

Paying for education is, in my opinion, one of the worst mistakes you can make. As was mentioned before in most cases you are being scammed. There is so much free information online (start at the school right here at babypips) and all those scammers do is give you the free stuff you were to lazy to find.

In the end if you decide to go ahead and pay, feel free to do so. I would not be surprised if in a few months and a few thousand dollars later you will write a post how it is impossible to earn money and that forex is a scam altogether.

14

Personally, I think paid education is just over rated. You get tons of tutorials alone by signing up to your preferred broker. Just my two cents.

15

my trading turned around after upgrading monitors and switching to a standing workstation. go figure

16

Yes eddieb i agree that’s it in babypips we have everything to start, and sticking to plan is the solution :slight_smile: In my opinion the basics are needed like an ingriedent’s for macking an cake is up to you hou you mix them to get high tetsing cake or something just to fulfill your stomach :smiley:

17

I’m a Forex trader quite a long time already (and I can not complain about my results :slight_smile: ).
All that time each 2-3 months appears the same debate with question: [B]is it worth to pay for Forex education (and/or mentor) or not? And if yes - who is the best educator? :)[/B]

My opinion stays the same at all times. It is worth to pay for it ONLY with one condition:
if you find a Mentor or Forex education course or training where you will be given not only a “package of theory” - BUT an opportunity for some “practical period” along with trader who actually works (i.e. trades himself) based on this theory.
The longer is the “practice period” the better. But If I would be in your place - I would go for the ones who provide 4-6 and more months of “practice period”

If somebody of You people know or can suggest this type of mentors or forex trainings - I would gladly become a student my self again. (it is never to much to take over some more experience :slight_smile: )

19

Every trade you try to recite this one if it does make sense.

I will trade <long|short> for <currency pair> because <your fundamental analysis here> and <your technical analysis here>.
The stop loss is @ <pips|price> because <your stop loss reason here> and it is x% of my account.

PS.
This will also serves as your trading journal.

20

hey mr investorfinance23…not going to argue this or that…go to pro act traders…website…there is a free demo for 10 days…they have a charting system and date feed for there charts…they have time compression charts and some tool that you have never seen and never will again…read some new letters…do not go looking for people who bash the site…the training they provide is not free…the charts and live rooms are not free…the education they have there is different than anything you will find and it works…but it only works if you stick with it for about 12 to 18 months and the pip captures we get are incredible compared to the rest of the retail traders out there…we r not indicator junkies and when i say we i mean the guys who learn this system and this way of trading on a daily basis…the amount of learning that you can do on this site will last you for years and years and everyday is a new video or new information

this is meant to help you not sale a site…and this site will not work for you if your not willing to put in a lot of work and truly learn how to use there charts and their methodology

i have been trading for less than 6 months but i have studied forex for the past 6 years…and i am making 300 pips a week consistently with little stress…i am trading full time and this is all i do now…and that includes lots and lots of video and studying and paper trading and chart work

planning my trades…anticipating the market…understanding what the big boys are doing…the banks and getting on their backs and riding their momentum…the 5 minute and the 15 minute charts are for retail traders who lose money…you got to learn to trade the 60 minute and do your analyzing on the 240…this is where the money is made and where the real moves are planned out

sounds like you got a good basis of forex now you just need a good methodology to go with whatever your trading personality

take the free demo for 10 days…investigate the site…there is so much there…the charts are 200 a month…priceless in my opinion…the meta charts are crap and for losers…all the platform charts are by the brokers and they are there to make money…so why would you use there charts except for entry and trade management

the live room they have everyday…is another 100 a month…4 hours a day training live…and lots of extra classes

then they have a mentoring program for a year for 3000…again to me its been priceless

this process is not an easy one and you will struggle…i have but now in one month i have paid for all my chart expenses and the 3000 is paid for and now i am building my account consistently and safely

hope this helps…the right education in this field is priceless…you get what you pay for and all this information out there is mostly a bunch of crap…set-up to take your money

there is a reason why most retail traders lose money…they do not understand what is really going on in the market and that in one sentence is

THE BIG BOYS RULE THE MARKET…THEY COMMUNICATE ON THE CHARTS AND IF YOU CAN DECODE THEIR COMMUNICATION SYSTEM AND TRADE WITH THEM YOU WILL MAKE ALL THE MONEY U EVER DREAMED OF

21

is this how…you talk…in real…life…with improper…punctuation…and long pauses…in between words…which at best…formulate run on…sentences…

If you want people to take what you have to say seriously, consider using appropriate punctuation and grammar. I see a post like this, and instantly just discount whatever is being said.

Who are “THE BIG BOYS” ?
Are there any BIG GIRLS? Or, to rule the market you need to be a male?

22

+1 , Ranks right up there with; Smart Money or Professional Traders. :33:

23

Funny out of all that you focus on the punctuation and the grammar and the term BIG BOYS…the BIG BOYS are the bankers and if you don’t understand what they are doing everyday and how much they control what happens on your charts in my humble non HONORARY MEMBER BABY PIPS LEGEND…i quess…opinion…and yes this is my style of typing in this format…last time I checked this is not a formal document that I am typing…so I am going to keep typing like this

The big boys or the big girls whichever you would like to call them have the money to PRINT your candles…they move the market…they are the elephants among us…and if you become the tick and hop on board your chances of survival in this profession increase dramatically.

So whatever offended you about my post…I really do not care…it was meant to try and help the original person who posted the tread.

So please discount everything you saw…it was not meant for you MR. Honorary Member…obviously you already have all the answers…and have time to focus on trying to make my post and the way that I type conform to your ideas and believes about what a BABPIPS POST SHOULD BE.

Really not that important to me who takes it seriously and who does not…all the guy or gal has to do is get something out of my post that helps him or her and it was worth the time it took me to type up the reply.

Just to let you know and this should make someone like you happy…for whatever reason I do not know…except you probably trade with indicators and use a 5 or 15 minute chart or either your a female and the BIG BOYS statement upset you…or your an ENGLISH teacher and the grammar disturbed you…or your EGO raged at something I typed that I could never quess…

Funny… just read the reply again and I got it…it’s the big boys statement that got you.

Wow…all i can say is WOW!!!

You missed the entire message because of one statement that was not even meant the way you took it and then attacked my grammar and punctuation.

MRS. Honorary Member, I apologize for that statement. This is a term that I pick up from my mentors and it is not used in a sexist way. It is just meant to help communicate to others what is really going on in the FOREX market.

Disclaimer to all readers: I apologize for my style of writing and grammar and punctuation issues…I do not have time to go back and make this message perfect…I prefer it to flow like a conversation, and if for some reason my style offends you and discounts the message contained within…please find it in yourself to ignore all my future postings and refrain from a wasting your time and energy with a reply…see I am who I am and I do what I do and I have been on the earth long enough that a little sarcasm and bashing is not going to change that.

Thank you Mrs. or MISS…think miss is appropriate in this situation… for waking me up on this saturday afternoon and getting me to think about why I even waste my time with this site…seems you guys or gals got it all under control. Sometimes I feel sorry for all the future FOREX traders out there that get lead to the likes of you.

Remember there is very little room for EGO in trading…and seems like you got a man sized EGO. And I am postive that one will get you going all over again.

In closing, is this proper…no just cannot do it…sorry just not in me…

THE BIG BOYS AND THE BIG GIRLS RULE THE MARKET…FIND OUT WHO THEY ARE AND WHAT THERE AGENDA IS…AND YOUR TRADING WILL IMPROVE DRAMATICALLY!

24

Hi Flashing,

I’m glad you like the forum as in a conversation, mind you I’m not so sure about all the shouting, especially about big boys/gals and ego and all that stuff.

I suppose all the dots are not the norm, but hey it’s a free world (well maybe excluding a certain little Northern part of an Island with a dislike for Hollywood).

Now I’m also happy that a little sarcasm doesn’t hurt, you see, not wanting to waste your time on this site, nor wishing to interrupt your Saturday evening, and as you say, all is under control - BUT (excuse shouting) when a trader advocates a particular site or service for which we have to part with hard earned cash, well… in creeps a certain … well you know, but you’re right, I’m really glad you feel sorry for us all.

Now as the VP of USA would say - let’s press the re-set button. :slight_smile:

25

Sorry for the capitalization of words…not meant as shouting from my end but I understand that it is taken that way by many others.

I feel sorry for all the new guys that fall into all the bad information thats is out there about the forex market.

And honestly, the reply pissed me off because all I was trying to do was lead someone, that has put in a lot of time and is struggling, to somewhere that could really help them.

Trading is about making money and a life time of learning and it only makes sense that their are people and organizations out there that can help you. And you got to be completely off your rocker if you think this information is going to be free.

Babypips is wonderful for learning just enough to get your head split wide open. That is being honest. Free education is great and there is lots of it. But if you want to do this for a living and survive you better go find someone that has been in the trenches and understands where the sharks( big boys and big girls) are and how they operate.

I have pressed the button. Thank you

26

So true. Sharks now their is a term that doesn’t make the rest of us sound like small boys/girls.
But for sure if you want to trade with them, you have to understand them and how they trade.

27

I suppose I was using sarcasm at it’s extreme, I do not intend any disrespect to Mr Biden, far from it, he is a person for whom I have great respect.

It just happens that he was referring to Russia when the current administration came into power, long before most people even knew of Crimea or Ukraine, I applaud and endorse Mr Biden’s efforts in this regard, not his fault that it came to nothing.

So too any person who is man or woman enough to press that button, well done Flashing, look forward to your input up ahead.

28

The reason why the scammers do well is because they supply a demand.

There will always be a massive demand for something that promises a short-cut, something easy, “spend 5 mins a day and buy a Ferarri” etc.

The truth is that most n00bs don’t want to know what it takes to become successful, or if they do, most don’t want to put it into practice.

If a forex mentor said -

“[I]Ok, this is going to be tough for you, there is a good chance that you will not be successful at it, you will have to dedicate a LOT of time to it (possibly years) and you will have to reverse a lot of what comes naturally to you - in short, it’s one of the toughest professions out there[/I]”,

NO-ONE WOULD WANT TO KNOW - or if they did, it wouldn’t be long before they gave up and went off looking for the next short-cut.

The fact of the matter is that the vast majority of people are dreamers, not doers. How many people who dream of becoming a top guitar player actually do so? How many people who want to become a doctor, a rocket scientist, a top flight footballer, actually become one?

The awards on offer in trading are big - so the competition is massive and intense. It takes dedication, blood, sweat and tears to get into the top few % in anything, from Tiddlywinks to brain surgery. Same for trading.

29

Everyone has a different style of learning. So if someone needs a structured classroom style learning environment, then I guess they can pay for it. Paying for a course won’t turn you into a trader or teach you how to make money, just like going to uni won’t guarantee you a job or make you money. It will give you a place to start your journey, but you have to keep learning, either through experience in the market, through researching on the internet or being mentored by an experienced trader.

Some people find mentors to fast track their learning which I believe works, if you manage to find the right one that has a proven track record.

I’m speaking from experience, I’ve spent 10s of thousands of dollars on training programs. I’ve been through retail trader’s training programs and have seeked out hedge fund managers that trades with 100s of millions of dollars for my mentor. I can tell you now those hedge fund managers, that gets paid half a million to $4 millions a year, trade at a different level to us retail traders.

I see a lot of posts regarding risking 1% per trade. Hedge fund managers risk only 0.25% per trade. They are more concern about protecting their capital and minimizing their draw down then returns.

So just sharing my experiences, I know everyone has their opinions on how to trade, but I’ve found that by having a mentor that knows what they are doing can help you reach your goals significantly faster, saving you time and money.

30

i know what its feel, i had experienced the same thing without losing money, one friend of my is living from this and i learned from him a lot in a week, he give me awsome material, the steve nisson analisis method, and the free school of this site rocks too, what you had to do to be sucesfull and the faster way is this steps
1)Relax, its not imposible and you can had a good living from traiding,
and be clever with your money, dont open a real account if you are not sucesfull in demo
2)every one can trade, if they are persistence, stick to a plan and practice, you dont need anymore than the school from this site and a price action tutorial, trading its not easy but isent dificult too
3)You had to define your self, i mean, if you are a scalper or a position trader, know yourself
4)Search for a experience trader, look in facebook or try to contact somebody close to you that are really trading and ask for help, its important that he live from trading, becouse that is going to ensure you that he do the things right and not live from trading bull**** or teaching payed bull****
5)Practice in forex tester or in metatrader with a plugin that allows you to simulate trading with time compression, forextester its really awsome allows time compresion and a lot of things more, with this program you will boost your learning curve really fast, but i repeat you can do it with metatrader with plugins for free, but forextester is build for that

31

Personally, I think the benefits of paid education does not outweigh the free one. I mean, sure a free education is not that comfortable as a paid one but you will be spending a lot on a paid one and there’s never a guarantee that you will earn right off the bat.

32

Choosing a good mentor is equally important as choosing a good broker. There is no need to pay everyone or anyone who claims to be a good trading mentor, don’t pay them if they don’t have any website. Without thorough research don’t make anybody your trading mentor.

33

Personally, I don’t want to pay anything to learn Forex. I think everything is online and all things can just be searched. Just my opinion though.