Hey, Iām Borgus
Probably going to lurk until I understand what is going on
lurks
Hi I,m very much a Novice ā¦ Extremely grateful to everyone at the BabyPips Team/Crew ā¦ I,m currently half way through the School of Pipsology ā¦ I intend to finish the course ā¦ Then go back and do it again in conjunction with a Demo account until i get decent scores on the tests ā¦ Then maybe try out The Cowabunga or some of the other systemsā¦ Maybe start with Scalping then day tradingā¦ Only after i have found a Strategy that has a relatively low draw down will i consider going live . As my Screen name suggests i,m emotionally attached to Money (Stored Labour) ā¦ Hopefully maybe at a later date get involved with Spread Betting or CFD,s .I,m over 50yrs old From England Kent UK Aquarius ā¦Reasonably well traveled Worldwide ā¦ I like eating Kebabs and Indian food ā¦ I think its great that there is people from all walks of life from around the world on here ā¦ Thanks for all concerned Kind regards Me ā¦ 8 )
Hi My name is Steve,
Iām new to Forex trading so Iām hoping to learn a lot from this community. I will be trading on ETX Capital and Iāll be starting with a low deposit and Iāll see how I go.
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Hi Steve
iāve been trading for several years
i can tell you whatās going to happen hehe
- Youāre new to forex so obviously no experience
- With a Low Deposit, YOU WILL LOSE IT (no question about it)
do yourself a favour
For the next 6 months - 1 year
Learn from Babypips education tab
also
Open yourself a Demo account with a minimum balance of $2,000 if not $5,000 and trade that
nowā¦ Keeping in mind that you should not start with less than $2,000 but $3,000 is recommended .
You should open a demo that has an equal balance to that that you plan to start with
You should do whatever you know how to do to trade successfully
butā¦
BEFORE YOU GO LIVE
You need to show that you can trade profitably for at least 6 months
You need to show consistant profits and Daily trading
and the amount that you are trading has to follow some sort of growth pattern, it canāt be random lots chosen based
on your gut feeling
if you do that, youāll be much better off and you most likely will not lose your initial investment
if you donāt listen to this
Chances are (Like everyone else) YOU WILL LOSE IT
also when you say Low Balance
what does that mean ?
Mate, as a general rule , if you have less than $500 to start with ,
forget it
Better put it aside than throw it away
Your other option is
call the broker
ask them for their address
go up to them and just hand them the $500
because if you are not going to save it and put it aside for now
you may as well hand it to the broker right now
doing this, you avoid the stress of ongoing loss, little by little
pull the band aid off quickly if you must pull it off hehe
trust meā¦ ok
save your money for now
Trade Demo
Learn
donāt get itchy
Be Cool
Lady trader here also. I have never traded Forex. I thought maybe I would learn something about crypto here, but also I want to learn about Forex and become more diversified in my skills and portfolio. It sounds like we may have a similar approach and goals, as Iām also not looking to become a millionaie. 
I also really like Rayner and Trading 212, as well as Jerremy Newsome of Real Life Trading. Best wishes.
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Welcome to the BP forum! 
Hope we get to learn a lot from each other
Hi Everyone
I am an Ex-Banker and I had the opportunity to work in Credit & Risk Management and Treasury Division of a Bank. I worked in every section of Equity, Money Market and Forex Departments of Treasury Division.
I have also traded stocks at my local Equity Market for many years. Now, I am interested to participate in Forex Market. So I am trying to equip myself with the relevant education/courses.
I will keep in touch with all of the Babypips.com community in near future.
Best of luck to all of you.
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Hi SufShiken! 
Youāre very much welcome to the community! There are a lot of newbies like us here. Likewise, there are also lots of pros who are very kind and willing to share some of their expertise.
I hope we could learn and grow together! 
Have you finished the School of Pipsology btw?
Thanks Ria for your welcome message.
Yeah ā¦ I have already completed the School of Pipsology entire course.
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Thatās great. Where do you go to learn new stuff now?
Iām still going through it myself. 
Haha.
Usually, I try to learn new stuff from various sources e.g., different YouTube channels, Webinar as well as various websites.
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Youāre not supposed to learn new stuff after the course
Youāre supposed to get a DEMO and put what you have learned into pratice
and only when it doesnāt work for you to you learn new stuff and research other theories
but because you will basing what you are doing from THE COURSE, Your research will therefore be more specific and catered to a SPECIFIC SUBJECT so that you can rectify as small problem
if you are done with the course
start on demo and work out your trading style , then perfect it
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Thanks Martin for your advice.
I have started working on Demo account to practice what I learned from Babypips.com course.
Thanks @anon81929759! I will.
Iāve also started setting up my demo account and Iāve been going through it, trying to place orders, learning the tools etc.
thatās awesome
you use you tube to get familiar with MT-4
things like
How do i backup MT-4
where does MT-4 Save my Data Files / Indicators/ Experts etc
How do i Save Profiles in MT-4
How do i Save Templates In MT-4
How do i customize charts in MT-4
how do i use Terminal in MT-4
How do i use Market Watch in MT-4
and what all the buttons mean at the top
how do i draw lines in MT-4
How do i draw Fibonacci level in MT-4
how do i draw shapes in MT-4
How do i insert text on an MT-4 Chart
as far as indicators are concerned
USE ONE AT A TIME and see if they are giving you the results you want
if not - Bin them
if they are - make a note of them and consider applying them to your strategy
also i would advice that you formulate some sort of trading flow chart that you follow religiously
nowā¦ OVER TIME, if you find flaws in the flow chart,ā¦ UPDATE THE CHART and make corrections
sooner or later you will come to a point where you canāt fault it anymore
this will give you a well defined routine for trading
hope that helps
Wow. Thank you so much for being so willing to share with us Martin!
Iād take note of all of these. Also, this might be a silly question but do all demo accounts have MT-4?
hehe
No Not a silly question, but definitely A FUNNY QUESTION
itās like asking
Do all Tyres have cars
hehe
it doesnāt work like that
I meanā¦ YOUR ANSWER (simply stated ) is YES
but, then again, some forum members would shoot me for saying that.
soā¦ THE CORRECT ANSWER IS THISā¦
MT-4 is a software platform
it doesnāt care if your account is live, Demoā¦ Oompa Loompā¦ Tiger or Giraffe or Razor or whatever
it simply doesnāt care
MT-4 just cares about this
That it has a stable internet connection to a service provider
That it can transmit and receive a data feed to an from the service provider
without a service provider (A BROKER) MT-4 is useless to you
Your question is like asking
"do all brokers have demo accounts"
and the answer is ā¦ NO, NOT ALL OF THEM
thenā¦ does YOUR BROKER offer a demo account ANSWER : (i donāt know , you need to check with them whoever they are) but they likely do
Now, you should be able to login to a central client area on their site and create a demo account
you will then be given Server details for the demo and the account number and password
Upon creating it, you will be asked to choose a balance and a leverage and a local currency
when you have all these details
YOU GO TO MT-4 and get MT-4 to logon to your account
soā¦ the account is with the broker (Not MT-4)
Now, you can create accounts within MT-4
but, REALLYā¦ MT-4 IS ONLY REALLY SENDING A SIGNAL TO YOUR BROKER TO CREATE AN ACCOUNT
MT-4 doesnāt actually create the account
IT SENDS A REQUEST TO THE BROKER
Hope that clears is up
Huhuhu. Sorry for being such a noob. The only positive side here is that I got to entertain you. (At least, I hope?) Haha. 
Anyway, thank you for clearing it up Martin! All these technical stuff is really still confusing to me so Iām gonna research more about this so that Iād figure out how to properly use this.
itsā ok mate
you are a newb and thatās the nature of it
so donāt worry.
7 years ago i asked the same questions, so donāt worry
around 4 years ago i started to get it and trade successfully
so , Ask anything you want , and iām happy to help
there are lots of people here that will give you advice that you should NOT listen to
Then are others that you should listen to , but they donāt know how to trade profitably yet, but EVERYONE HAS SOME PIECE OF INFORMATION you can derive knowledge from.
Even scammers can teach you things if you know how to look for the information
then there are people like me who know how to trade and who can guide you in the right direction
Then there are experts (institutional traders)
i doubt you will ever get help from them unless you are paying them very very good money.
i and a few others can help you the most
the other people can help to a lesser degree
but as rule of thumb, Newbies canāt help you that much
TRUST ME ON THIS
i remember 7 years ago approx, i was like you
youāre a newbie, you just want knowledge and you just want to know HOW DO I MAKE MONEY IN FOREX
and then you get a tonne of people saying stuff like ā¦
manage your risk
Manage your risk to Reward ratio
Manage your money
Watch your margins
Watch your stops
pick a good broker
blah blah blah
MATE, ALL OF THIS ISā¦ B.S. ok
Plain and simple
it means nothing UNLESS YOU ACTUALLY KNOW HOW TO DO IT
Example
"YOU GOTTA MANAGE YOUR RISK"
okā¦ so , newbie goes out, Assumes how to manage risk
then, blows up account
What happened
ANSWER : newbie did not have the knowledge to manage risk.
newbie did not even understand WHAT CONSTITUTES RISK to begin with
as opposed to something like this
Newbie Understands what Account leverage is and how it works
Newbie finds out what their account leverage is
Newbie understands that having a shady broker means that any testing is pointless
Newbie gets a good broker
Newbie gets familiar with MT-4 before placing trades
Newbie trades demo for a year at least and learns how to trade and learns from mistakes
newbie Understands what Nominal margin is
Newbie Understands how much risk they should take
Newbie Understands that the amount of pips in a stop loss must be spread over the risk $$ amount
newbie understands how to convert Money Amounts to Lot sizes
newbie understand discipline
Newbie understands to not involve emotions in trading
Newbie understands basic mathematics and how to calculate all of the above
now you see how all this is more in depth
as opposed to just saying āManage your riskā
Mate, donāt listen to a lot of newbies because they will fill your head with crap that will waste your time for years to come
Anything that anyone tells you ā¦TEST IT
if it doesnāt workā¦ donāt use it
if it worksā¦ use it
if it confuses you when they tell you ā¦ THEY DIDNāT EXPLAIN IT CORRECTLY
OR
THEY DONāT REALLY KNOW WHAT THEY ARE TALKING ABOUT and therefore they will TALK THE TALK but will omit details that they donāt know
THIS IS WHY YOU FEEL CONFUSED AT TIMES WHEN PEOPLE TELL YOU STUFF
and itās not your fault
itās their fault
ok,
so take what newbies say with a grain of salt
happy trading
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