I’ve just completed the babypips school and I’m wondering : where could I get some further education ?
FX Power Course from fxcm is cheap, but what is it worth ?
Have you demo yet? You need to get a feel for the market and demo will do that. Go back over the BabyPip school for refreshers. Another important thing you need to master is the emotions of trading. A good starter is a download Sweet Pip shared with us in forextown. Look for a thread titled 10K - 1Mil in a year. Good luck. Keep it simple. Practice and give it time.
From one newbie to another, demo trading is definately the way to go. I have learned a heck of a lot more from trading hands-on than anything I read, so I recommend opening a free demo account and getting started. You might think you are one kind of a trader, but once you get into it things can completely change. You learn a lot about your own trading psychology, which indicators work best for you, etc from actually trying it out.
DEMO, DEMO, DEMO!
Get good at one system before tryingout another. This way you can start to grasp with more clarity how the market works. Read everything you can.
The question no one has asked you yet - and maybe you haven’t even properly asked yourself - is what do you need to learn? Until you have a solid answer for that, any further efforts at education are just shots in the dark.
And yes, demo trading is a very good idea to make sure you understand what you’ve learned so far.
You’ve made a good start completing the babypips school! I would recommend buying John Murphy’s ‘Technical Analysis of the Financial Markets’ (54$ on Amazon) and studying that carefully - it’s the definitive text on technical analysis IMO. I would not spend money on expensive courses claiming to give you the ‘secrets’ to trading successfully. As suggested above you can get going demo trading and I would recommend trying out some strategies like the Cowabunga system - there are also a wealth of other strategies being discussed on sites like this and forexfactory. The free webinars on fxstreet will also give you some good education and ideas. Good trading!
The best education would be the one you get one on one, but it is difficult to find. Do not take any Power Course from fxcm because it is cheap. You won’t learn anything useful from them.
They are one rude group of people who just wants to rush you to open a live account regardless of your competence. I took their course and they would answer 1 email out of 12 and would only give a general answer, and not a specific answer to a question, but very quick to recommend I open live account.
Hi rhody,
Is your book available at Borders or Barnes & Noble. I will be that way later this week and would like to pick it up. If not I guess Amazon will work. I just don’t like waiting after paying. I think it is, the cover looks familiar.
congrats on taking the initiative to educate yourself before diving into forex. like the other posters have suggested - demo trading cannot be emphasized enough. with that said, ideally, your demo trading should reflect the trading you plan to do when you go live (trade with real money.) this includes trading psychology, money management, and finding what trading style best suits you (think back to your babypip’s training!) good luck, there is no rush. mind you, i demo’d for a good 6 months after i had a system to trade (which took me 6 months to develope) just to instill discipline and get used to the various factors that come into play once you start trading.
In theory, yes. By that I mean the book was published by Wiley and is readily available through all major retailing outlets. Whether you actually find it on the shelf when you go to the store I couldn’t say. I’m sure they could order it for you if they don’t have a copy on-hand, though.
Thanks. I think I have seen it before. If not, I will load up on the Starbucks liquid crack, leave, and then use Amazon.