Full time dad looking for guidance on trading

Community Introduce Yourself
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Hey everyone I’m AJ!
I joined the site out of curiosity, I was doing some research on iml and came across a Reddit post that encouraged people curious about trading to try baby pips. So here I am! Any and all advice helps! I’ll start by posting an open-ended question; What is one piece of knowledge you wish you had going into this that you later learned on your own?

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That the markets are being controlled by banks and how to read the order book that is used by them. Check out institutional trading on Youtube. Not iml, but ICT and Chris Lori. If you want to go old school, you can check out Larry Williams as well.

Welcome to Babypips btw!

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That making money is boring.

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Learning is a continuous process. You have to learn as much as you can.

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Nobody mentioned the free course here that your Reddit poster was probably referring to. Completely free.

https://www.babypips.com/learn/forex/preschool#what-is-forex

Welcome!

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yes you said right , its a continuous process for that reason we the traders always fail to keep patience after passing sometimes.

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Great! You are on the right track, BP is one of the best source to get started. What I have learned in my trading journey so far is not to overtrade. Keep yourself in limits, as market first give you and in a wink can snatch everything!

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Did it help you to become profitable?

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That most of what you learnt when starting,though you probably have to learn it, is of no use . Dosent really have a bearing on how successful you are .

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The question is are you wanting to look to learn Forex or trading stocks in general ?

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What did you find out? I have a nephew who was being recruited by them. Thankfully he didn’t do anything.

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It was foundational to my learning. Very in-depth basics. And it’s a stepping stone to more complex topics. Plus the community itself is gold. It’s not going to make you rich after reading it. But it covers so many different topics.

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from what I’ve read, there’s an ongoing lawsuit against them, due to the style of recruitment. It’s basically a pyramid scheme that targets younger individuals.

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I’ve actually been going through the courses taking notes and revisiting the quizzes as well. I’ve spent about 12 hours give or take but I plan on going through the entire “preschool” courses to get a better understanding of it all. But let me ask you this, do you think I should do the entire thing “cover to cover” so to speak, or should I just learn certain topics and look up videos? I’m currently watching ‘Intro to ICT Optimal Trade Entry’ by The inner circle trader on youtube.
TYIA!

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I asked this same question. There’s just so much there, and I really didn’t realize just how much was involved. I decided to get a demo account ready to have while reading, so if there was an opportunity to use it, it would be ready.

There’s some ICT stuff here too. Did you search for it?

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See I don’t even know how to create a demo account just yet. As for your question are you talking within the video itself or just their page?

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Very simple. Pick a broker (I know that’s maybe scary when starting out). Signup for a demo account. Done. It’s really that simple! Where in the world do you live? When starting out, it’s usually suggested to go with a regulated broker in your area. There’s so many.

As for the ICT question, there’s a magnifiying glass button at the top-right. Its the search box. Click that, type in “ICT trade” and you find a whole bunch of threads about ICT, some created by him from years ago.

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There’s also tradingview.com that you can connect with your broker’s demo account. Not sure if you can get a demo account from them directly.

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I reside in Austin Texas. when looking for a broker what should I be looking for specifically? Also, I’m still confused as to what role ICT plays in this. Maybe I should just keep going with the course? I accidentally skipped the “how do you trade Forex?” course and completed the “when do you trade Forex” lol. but I’m going back into the “how” currently.

Also sorry for all the questions lol, I’m just trying to pick peoples brain.

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This comes down to personal preference. I’d be more inclined to hop around rather than read the entire School front to back. That could take quite some time. But that’s how I’m wired. Some people would rather get into the nuts and bolts of it first, apply what they’ve learned later. Your choice.

As for regulated brokers in the US, you’re in luck. The list is small.

Any one of those brokers will be fine for a demo account. They all normally offer built-in web trading platforms, as well as a standalone, downloadable software platform, usually MetaTrader 4 or 5 (MT4 or MT5).

I’d stick with the web-based platform. They look intimidating at first, but once you get in, there are tutorials that get you up to speed fairly quickly.

I can speak of my own experience with ICT. He, Inner Circle Trader, was actually a member of this website may years ago. He had a very faithful following of members here, and maybe just as many detractors. I found his content at the time excellent. He did have a way of rubbing other members the wrong way.

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