Beyond Babypips?
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  1. #1
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    Default Beyond Babypips?

    So we all got done reading all the articles at babypips.com, which I do sincerely thank all the authors for their hard work and dedication to the site. However, what do we do now? How do we move forward and become a better trader?

    I think we all have to look deep within ourselves and ask yourself some very basic questions:
    Do I want to become a trader?
    Is this something I really want?
    Why do I desire becoming a trader?
    Am I willing to work hard?

    These are a few of many questions that I think all successful traders have to eventually answer and come to terms with. I really think that first step comes within and that you as an individual can only take that first step.

    However, say you took that first step and you answer all these deep personal questions and that you really believe that trading is something you want to be a big part of your life. What do you do from there? How do we get from where we are to where we want to be?

    Honestly, I am not really sure if I have an answer to that question. I want to open up this question to the community and see if we can get some answer, even if that answer is vague.

    So how do we get from where we are (from the point of reading and understanding the information within the babypips.com school) to where we want to be?

    Do we need to find the right trading system for our personality?
    Do we need to develop a trading style to fit our personality?
    Do we need to learn about particular technical analysis?
    Do we need to learn about particular fundamental analysis?

    It is my hopes that we can pull together as a community and share our resources or rather our knowledge of where resources are to help each other get to where we want to be. Be careful though, we can't really advertise, but I am sure the admins wouldn't mind us recommend books and authors.

    So how do we get from where we are to where we want to be?

    I think one important aspect to getting to where we want to be is by building up a foundation of support. This support can come from many things. Could come from your family, wife, girlfriend, friends, ect...
    There is that kind of support, but also I find it helpful to get the support of other traders. In particular the support from other like minded traders. What I mean by like minded is that you use roughly the same trading method plus or minus your own personal touches onto that trading method. To find this support I think an individual should seek a trading method they enjoy and think fits them as an individual and then see if there is a gather place for those like minded individuals and become part of that community and contribute to that community. Such as an online forum, hopefully at no cost! I think this foundation of support is one of many many things that will help us grow as individuals and get us from where we are to where we strive to be.

    Anyone else have something to chip into this all elusive question?

    P.S. Please don't flame me too badly. This was just a stab in the dark to contribute to this community in my first post.

  2. #2
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    Flames aren't allowed plus I don't see why anyone would flame you since this is a valid question that has been asked a few times. I know Big Pippin is working on a Blog that will assist new traders that finished the babypips course and aren't sure where to go from their. I look forward to reading it (See Link)

    http://www.babypips.com/forums/showthread.php?t=288
    Last edited by topgun; 12-20-2006 at 06:30 PM.

  3. #3
    BigPippin's Avatar
    BigPippin is offline The ***iest member of the FX-Men Superior Master Contributor and Member
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    Quote Originally Posted by topgun_68 View Post
    Flames aren't allowed plus I don't see why anyone would flame you since this is a valid question that has been asked a few times. I know Big Pippin is working on a Blog that will assist new traders that finished the babypips course and aren't sure where to go from their. I look forward to reading it (See Link)

    http://www.babypips.com/forums/showthread.php?t=288
    Yes its true. I am working on a blog that will hopefully help traders take their knowledge and start to actually apply it to the Forex. I know that I felt the same way after I read everything I could find on the Forex. I thought to myself, "Ok, I have all the information, now how do I put it to use?"

    You are not alone my friend. Thank you for sharing your thoughts and welcome to the community!

  4. #4
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    welcome to the forum!!!
    everything you said was right on and every trader should ask him/herself these questions. once you finish reading all the lessons the learning stage is still only beginning. what really gives you alot of power ,when it comes to trading, is experience. you learn through watching others make stupid mistakes, you learn through what the successful traders are doing and you also learn from your own good and bad decisions. most people who consider getting into to trading tend to only focus on one thing. the money, the money, the money... they dont see that it takes time and effort. when you go to these seminars the instuctors only show you the largest movements and the greatest potential to make alot of money. they dont show you what it most common or what is most likely to happen to new trader. if people really knew the truth about what it takes to be a good investor they proably would think that they are better off just continue their regular job and put money aside for their retirement. most people are not suited to be traders. they would be better off putting their money in the hands of professionals or going with less risky investment options.

    reading babypips lessons, following the blogs and participating in the forum wont automatically make you a better trader but you are definately on the right path to becoming one if you are here instead of jumping to the chance to open an account right away and trading with only the baby pip lessons under your belt.
    Last edited by honeb; 12-21-2006 at 03:47 AM.

  5. #5
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    Default Yeah!

    I also hope that many people take the advice that has been given to them on this website. I can not count how many times the authors utter this, Trade your Method for 2-3 months before going live, personally I just feel like 2-3 months isn't really long enough. I think if I have 2-3 months of solid trading in a method then it may be time for me to go live. But I just do not see myself being able to master a method within that time frame and then to master the fundamental ideas behind the method.

    Sadly right now I do not have the time to committee to trading. I really wish I did. I absolutely adore it. For some strange reason it just seems like I click with the charts. Analyzing these charts just seems to be my cup of tea, you know? I find it very enjoyable and really when you get down to it, if you do not enjoy what you do to bring home the bacon is it really worth it?

    Also, anyone have any recommendations on some books. Particularly some books on the fundamentals and perhaps a book on the MACD and other technical indicators? Ill be searching around for these resources, but I think it would be quite generous of you if you could recommend some particular resource for those topics?

    I hope the Admins do not mind if my thread takes the direction of a general discussion with emphasis on things not covered or lightly touched on at babypips.com.

    Thanks,
    --Nate

  6. #6
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    Babypips recommends all the books listed in this link. I read them all and they are very good books.

    http://www.babypips.com/forexpedia/i...nd_Description

    There are also recomendations in these two topics.

    http://www.babypips.com/forums/showthread.php?t=243
    http://www.babypips.com/forums/showthread.php?t=10



    Quote Originally Posted by swordofrue View Post
    Also, anyone have any recommendations on some books. Particularly some books on the fundamentals and perhaps a book on the MACD and other technical indicators? Ill be searching around for these resources, but I think it would be quite generous of you if you could recommend some particular resource for those topics?--Nate
    Last edited by topgun; 12-26-2006 at 10:39 AM.

  7. #7
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    Default Thanks

    Thanks Topgun,

    I do have two books to my name. Trading in the Zone and Trade your way to Financial Freedom. However, after getting those two books I just feel like a sucker. Like I blew my money buying those two books when I could of gone without. So I am kind of wary of book in general. However, I do think I will put some money down for the two books by Schwager.

    Thanks for the link, I knew it was somewhere, just didn't remember.

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