Demo account is the best platform to start trading and trader should spent three to four month in demo account to understand the basics of Forex trading properly.
I aggree that price action is a great step towards success. however i wish to suggest that price action is more subjective and open to interpretation. to be honest just the fact that your not going backwards means your doing better then most traders. at first you need to learn how not to lose. more then how to win. to me price action is more advanced then indicator trading. you can make money in the long term with both.
Be careful not to get trapped into thinking that you can analyse the markets into doing what you want. no system or analysis will “Predict” the markets for you. its about consistancy, and getting a positive edge. (expectancy).
Don’t try to Run before you can Crawl… remember if your not losing, you are doing well. and on your way to being a great trader. And you don’t have to know what will happen to make money… i suggest along with Van Tharp you read Trading in the Zone by Mark Douglas. its about psychology and how it affects traders…
I have the similar situation! I first found about Forex few years ago and was playing with it for some time (didn’t understand that it’s a very serious business). A year ago (I think so), my friend invited me to his five-day Forex training which I really liked, so I decided to continue learning more about Forex. I still don’t know what kind of trader I am and what kind of trading strategy is best for me, but I hope BabyPips school will help me decide.
I also have a full time job which is good because I can save some money. My plan is to learn and trade with a demo account for at least 2 years, and save money all that time. If I start making money in next two years, I will invest my savings and continue trading with a real account. What do you think about that?
Babypips wont help you decide, your personality will. And the best way to find out is to experiment. This is a process which takes time, so dont cut corners.
As others have pointed out, you’re in the right place and you have taken the first step by enrolling yourself in babypips school. It has everything, from basics to more advanced topics for the experienced trader.
I would suggest that you avoid EAs like a case of rash, frankly spending money on it you may as well give it all away.
Try manual trading - you can use the demo to test a few strategies and move on from there to small live account, good luck
It is good to know that you’re not “forced” to trade (I’ve seen some on here who are due to financial conditions, unfortunately). I guess that takes the pressure off! From what I understand, capital is important because it gives you that safety net. I plan also to give demo trading 2-3 years until I come up with a winning strategy. By then I should have over $50k in savings, but I dont think that is good enough - need more capital (~$100k). Some people say that it takes at least 5 years (10000 hrs, point of mastery) to develop an edge + winning strategy. So I say, have patience and play it safe until then. I am a total noob, yet, I believe this should be a suffecient in order to really “understand” trading. I hope after the 5 year period results will show in the form of consistent income, which you can use to compound your account. Then its just snowballing from that point onwards.
These are just my thoughts. I think they are concrete in laying out this plan. However, I do belive that in order to be really successful, it is important to have a mentor who you can shadow or model. I dont know how to do that 
[B]Paula[/B] can you please tell me the exact names of books by [B]Van Tharp[/B], [B]Mark douglas[/B] and [B]Alex elder[/B]. i want to study them
I suggest you go demo and track your progress with a trade journal. From there you can pick the strategies that work best for you and keep making adjustments along the way. Good luck!
The Answer is quite Simple: Start Over.