Thanks for bringing these threads up. When I first started on Babypips I started reading these threads but I couldn’t get to grips with them. I thought I’ll come back to them later after Pips school but couldn’t find them again or remember their names, so I’m looking forward to having another look now I know a bit more.
PS - Sorry for the rant, I just wanted to say what I was thinking. 
Stupid ass rants like yours is what drives experienced and competent traders out the door and away from forums such as babypips.
The market does not pay an hourly rate so i see no reason why competent and qualified traders cannot open a trade and then come on online forums while the market does her thing.
Maybe so. Sorry about my tone.
Here’s what I think happens:
- Guy / gal decides they want to start trading
- Learning process begins (individual joins a trading forum)
- Trade, mistake, trade, mistake, trade, mistake (follows others’ advice, seeking external validation)
- Mistakes are occurring less frequently- starts offering up advice / help based on limited experience
- A basic strategy forged by this time
- Pulling down good returns month over month, confidence rising- becoming a self-sufficient trader
- Gains popularity on the forum- more advice sought out
- Starts a free blog- experience level rising, relying less and less on others
- Popularity / demand on blog / forums continues to increase alongside experience level (experiments w/ social media: youtube, twitter, facebook etc)
- Realizes- “Others are charging for this information, I’m giving it away for free…”
- Lightbulb- Drops participation level @ forum from 100% to around 30-50%. Starts charging a small nominal fee to “test the waters” for demand for their blog / educational services
- Demand is there- participation level slightly increases on forum to entice new paid “members”
- After a solid 6 month - 1 year window of on-boarding members, fees are raised.
- Fees alone are generating a solid enough profit- reputation cemented in a popular forum / on the web, continue to churn members who can be set free, meanwhile doe-eyed newbies line-up @ the register for membership
- Paid website running well; individual can trade less (or more!) because membership fees are supplementing market returns.
- Ride the wave for as long as it’s willing to roll
Ps: I meant to include Jake of Forexunlimited and JasonRogers of FXCM in the list, among others…
Jake, your 16-step analysis is spot on
To the OP, not Forex [I]per se[/I] but you will get the general idea behind it…
[video=youtube_share;cXy9HoWX0es]http://youtu.be/cXy9HoWX0es[/video]
Hint: Time…listen to how much time has passed until she finally got it…
Who are you? The forex forum god? You said no members who have posted here thus far can qualify as a trading mentor?! Please…I’m on pip’s side on this one all day long. Biggest control you have over me is getting me banned, NOTHING on my trading or ability to help others. Swearing at one of our most helpful members?! Shame…
Go to youtube and search “forex market structure”. Watch every video you can get your hands on.
Not to get off topic, but I didn’t derail this thread with what truly drives out profitable traders. I know because I am a profitable trader. But the advice given to the OP before the point less psycho babble was true and helpful. Emerald is a strong trader, pip is hands down best at directing users to threads and jake seems to me to be a helpful trader who knows what he’s talking about. Anyone who doubts P&F charts doesn’t understand them or how markets work. It’s just supply and demand. That’s all this market is and ever will be. Always. There are tiny bumps in it, price action fluctuations. But supply demand wins because it is what drives price. It has to. I learned and continue to learn from a guys who trade and have traded for over 40 years. That’s a long time.
To the OP I recommend studying nontime based charts, as I did for 2 years, to learn this market and every market. Simplicity…it works for me :)…
Don’t go before you pass all your knowledge to us! hahahahah!
Cheers dude!
I really cant understand those people who think they can actually make profits out of trading when they are doing it as a hobby, If you want to make profits u need to do it full time job.
Or go find you’re self a broker to do it for you like all of us do…
Trying very hard to understand lols. Dx
Hi Frustrated Trader, I was touched by your story. Shoot me a PM and maybe we can work something out!!!
So, Frustratedtrader, have you found someone?
Demo account is good. But it only goes so far. I, myself, could trade in the Demo account until my heart content. I have double and triple my asset in a few days time, but it is not the same as using a real account. I also intentionally put trades in that is extremely volatile to the point that I loose my asset in the demo account. The reason being is, because when you are using the Demo account if gave you a false sense of security that you are not loosing any of your money. And you can trade with no worries.
I have started a real account with a small amount of asset since last month to get my had wet and real world trading. And started trading, I can tell you this much, I was being 90% more careful on what I do and with route I take. Even with me being that way, I still am trying to play the catch up game with being on top and not loosing any of my asset. At the current point, I am pretty much even on the trades.
For me personally the mental attitude is the most important aspect: If You don´t believe in yourself and Your ability to succeed it´ll rarely happen. As long as You call yourself a “frustratedtrader” you´ll probably stay frustrated.
A good movie/documentary to explain what I mean and which can help You to overcome this issue is :
“The Secret” : About the Law of Attraction. You can google it and watch it for free on the net, HIGHLY RECOMMENDED !
Wish You the Best