Advice and guidance please noob

Hello everyone, I’m new to the forex world and babypips. I actually been reading alot of different posts and topics (getting ahead of myself) I started the school some time ago and went to the 5th grade and got side tracked. I will be starting back up again now from the beggining. At that time it seemed like too much but I think I can learn and be succesfull. I just wanted to know where should I keep my focus on? I mean like specific indicators or format for a newbie… I feel like getting overwhelmed with all this fancy names indicators and tools and what not. This is something I’m doing as a long term investment and career. Is it posibble for me to start trading in 6 months and not loose money? I’m not looking for a get rich quick thing… I just want to be able to make trades and understand what’s happening even if I’m not making money. I just want to be able to understand the different tools and signals etc… what to look for in charts… I know what most of the candles indicate like bearish and bulish candles, hammers, doji, etc… I would appreciate any guidance in the right difrections. I have a demo account and beside looking at the candles I 985130 know how to do anything else. I can kinda guess how the trend is going on but that’s about it… I’m not doing any trading but opened it just so I can see what the candles look like snd different candles. Please any advice and guidance I’ll really appreciate. Thank you so much.

Finishing the school here will answer the majority of your remaining questions. However, as for wanting to trade in six months time and being able to make money (not lose money as you said) is highly unlikely. As a rough estimate I would suggest it would take you up to two years, perhaps more to become efficient enough to be profitable over the long term - and that’s assuming your taking the learning process as a full time job or the equivalent weekly hours.

There are exceptions to this, such as private mentoring (finding a mentor with a proven track record though is just a little easier than wanting to be profitable after six months - you’d have your work cut out). Trading really is a business, an education in its own right, and like most if not all skills education takes time and really never stops.

Thank you so much Jezz… I hope the school answer most of my questions. As far as doing this I know it will take a few years before I can be good at it. That’s why I’m treating this as going to medical school… it will take time… I’m just nervous about not understanding the material. I’ll also be doing this almost full time. I’ll be putting in over 30hrs a week. I’ll just be reading for now though. As far as making money or loosing money… I’m not in a rush to make money or loose money. I’m just hoping in 6 months I can be able to understand what’s going on when I look at a chart and how to use the different indicators and technical analysis… etc… thank you so much

My suggestion is to work as hard as you possibly can. That is the best investment you can make at the moment. It is very hard to make money as a retail trader and even harder to make enough to so that you can take an income whilst still having the required capital to trade with.

For that reason I would suggest looking at getting a job as a trader, that way you can earn money whilst getting the experience you need so that if you want to trade by yourself you have that option at a later date.

Get a Summer Internship at an Investment Bank or prop trading firm and you will soon realise what it takes to become successful in this game, also it will be an amazing experience.

You need to be passionate and love the markets. Learn everything you can about them.

Get the best education you can.

Try and get as much experience as possible. Trade yourself even if it is a demo account, work experience, Interns, Forums and seminars.

from your post i can see you genuinely want to learn to trade for a long-term and be profitable. and i like your “not-giving-up” attitude. you’re on the right track! keep it up. the responses you have are also good. but in contrary to trading demo for 6 months and over, i don’t agree with that, the best way to learn forex trading actually is by taking it by the horns. but that would of course, be after you’ve known the basics. demo trading takes one important thing from you; psychological and emotional development. most people will say “trade demo, trade demo”, i beg to differ.

Trade on a small account , small lots but a live account instead of demo. If you have the extra cash.

I really believe in practicing with a live account but small size at first. A large percent of people blow an account so better get it over with when learning and only lose 100 bucks.

Demo does not include training with the same emotions and mindset as a live account. This “possibly” could get your account killed if you jump in from demo to a 20k live account.

Agree with Phalse. Trade pennies for a while. Work at the same time. Save up a percentage of your salary until you can see that you are making a profit consistently on your pennies. THEN jump in.

Just make sure when you or if you ever feel like you wanna stop trading because your doing bad make sure you don’t stop and you keep grinding.

Thank you all guys… I really appreciate all the advice and tips. I’ll defiantly keep that in mind. I’ll open a real account with $300 once I finish the school in the mean time I’ll mess with demo or wait till I finish the school to open a demo as well. My brother in law is willing to mentor\ help me so that’s a plus. He told me I have to finish the school first before I do anything. One question I do have is though how does one remember all the materials that is covered? Thank you

To be honest I used the school for techinal analysis only. I personally think Thts all you need to make it big. But what do I know…I’m only 17 I myself may finish the school soon

There are different approaches to trade on forex and trying to grasp every point there will result in confusion as some of them may be even contradicting! That’s why I suggest you to go down from the whole to particulars, or from basics to more complicated terms. Define for yourself what you’re up to - drawing lines and looking for chart patterns or make sophisticated conclusions from fundamental events.
Then try to understand popular methods of market analysis but it’s even better to find inefficiencies in them. Don’t step into real trading with widely accepted “public trading strategy” - common sense says that if it were profitable all of us would quickly become millionaires!
Don’t forget that even perfect strategy may turn to losses generator with broker working against you (pure market maker). Stop-hunting, excessive slippage, market gaps, liquidity manipulation - their favorite ploys against traders. I’ve been trying different platform for 3 years, now on Tickmill, and it seems that my long broker journey brought me to auspicious place. Don’t forget to try different brokers it’s important part of trading experience you should get.