Beyond Babypips?

I may be opening up a can of worms here for promotions and advertisements, but this question is strictly for veterans of this site.

I feel quite comfortable, after six months of studying, with the basics of indicators, money management, and seen more trading systems than can shake a stick at. I have set my goals, how I will reach them, and how I will manage the risk thereof.

However, I’ve still not set on a definite system which I know I will need. No one can tell me what to use, I have to come up with one. The question for me (and anyone else in my position) remains…

Where is one to go next? Many of us are still caught in the rat race, limited time and money to trade. Not all of us have the luxury of spending thousands for a six-week course (much of which I’m sure you could find the material free), nor 24 hour availability for opportunity. Where can one go for FREE training beyond Babypips? What would veterans and administrators be comfortable recommending beyond this site?

I thank you all and appreciate your feedback. Once again, please no promos, affiliate links, or “front-end” sites.

YouTube is good for free trading resources in addition to what you get out of forums etc. Hector DeVille and Nial Fuller have some great free vids available.

Open a price chart and study it like you’re studying the habits of a wild animal. Watch what price does at certain times of the day, when certain releases come out. Keep asking why, why, why. Why did price break that support level, why did that breakout stall and reverse?

If you trade with price action, there will be NO better teacher than the market itself. Your profits are coming from one place only, THE MARKET, why would you expect to go anywhere else for REAL answers.

Babypips is good for learning risk management strategies, and picking up technical templates to put some context on your price action studies.

I think you will find that you won’t ever make money till your trading decisions are based 100% on your own analysis. What answers do you seek? The future is unpredictable and the market rewards independent thinking, and those who can react quickly and intelligently.

The next step beyond babypips is 1000s of hours in front of price charts, 1000s of practice trades, and a whole hell of a lot of tears and sweat. Good luck dude!

First, akeakamai is right that experience is going to be your most important source of education over time. That can come at a cost, though, and certainly can be slow if you don’t learn a few fundamental things via books, videos, websites, etc. before getting too deep into it.

Second, while I’m no advocat for spending $1000s on courses and seminars and such, I am definitely not someone who will ever suggest you stick only to “free” resources. Nothing is free. There is always a cost, even it if’s just in the form of your time. I don’t know about you, but my time is valuable. If I can save 10 hours of searching the web and trying to filter out the good stuff from the tons of crap by paying $30 for a book or whatever, I’m going to do so.

It’s a value question. Are you going to get at least as much from the information or resource as you have to give up to aquire it?

My suggestion on where to go next would be to Amazon or one of its competitors. Start reading trading books.

If you search this forum you’ll find more than one thread about books worth reading.

Youtube is a very good and often overlooked learning resource and best of all, its free. You can often learn as much from a few 10 minute youtube videos as you could from hours of trawling through forum posts and text file tutorials for information.

Yes I would agree on searching out more detailed info on other forums, blogs, websites etc, buying some books, whether paper or electronic, and viewing any videos you come across. I found a lot of free ebooks, and I even signed up for some of those free email reports & mini series…some came with videos. Of course they were designed to lure you into signing up for something that cost, but I wasn’t interested in that, just the free info…lol

I would also suggest getting a trading simulator which will allow you to practise even on the weekends…practise, practise, practise. It may even help you in developing your own system because you can go back in history and forward test, and as with the MT4 simulator I use, I can speed up time until a setup occurs, then slow it down, then speed it up again to get the results. I can run through a month or 2 of opportunities in an hour or 2. While not all features of the MT4 platform are available with it, I still feels it’s very helpful.

Even after all that exploration beyond babypips, I still come back here :slight_smile:

Im still a newbie myself but after I finished the babypips school the best place I found to be a logical next step in my education was Informedtrades .com - it has thousands of short videos in well structured courses and easier than searching through youtube for bits and pieces. Now as Akeakamai has said I mostly watch the graphs and try to figure out why things are happening the way they are, reading others opinions on forex factory helps too if you know who to listen to and who to ignore.