Hi, my name is Rina. I was introduced to Forex from some friends in mlm but I quickly decided that I could probably figure this out on my own without paying monthly fees or having to join a network marketing group and drive my other friends crazy. I watched 2 Adam Khoo videos and decided “I’m ready” lol. Crazy. I jumped right in and started trading - holding my breath, freaking out. I couldn’t figure out how to do anything - like plot EMAs or even open the trade box at the bottom of my screen after I’d closed it. That made for a terrifying hour as I hadn’t set stop losses and I couldn’t figure out how to get back to my trades. Yes, I’m that green. Then I decided to spend an hour with a friend who trades obsessively and he taught me some basics. His number 1 advice was to come here to Babypips, READ EVERYTHING, and start slow. I’ve been trading all week and I thought it was really easy… like, when it goes down, it must come up and when it’s high, of course it’s going to come down. How hard can this be right? Then Friday I lost my money when the USDCAD just plummeted. Sad. So maybe there are some things I need to learn - like all of them lol. So I’m here. To be honest, I’d really just like to find a forum where I see a guy who I think is super smart and wise and watch what he does… rather than have to learn a gajillion things but maybe that will change with time and I’ll fall in love with the idea of watching the news, studying the charts and learning the math. Hi!
Welcome Rina, Khoo has some good videos available especially his double on gambling. Try out the School of Pipsology when you get the chance.
I watched his video “How to Trade like a Casino” and that’s when I fell in love with this. He made sense to me. I’ve watched a few other videos, but I like his style the most. I might take his course.
He is an interesting guy for sure with great programs for younger and gifted.
But when I read the course bio and it says starts at $500.00. nope. Most new traders have no clue because they are to new to have a clue. So think more than once on that decision.
There are many good free podcasts available even from real prors, many od us can identify good ones.
My I suggest you get a sim account and start trading and learning the School of Pipsology. After you think your ready to really learn put the $500 into a live account and see if you can keep the $$$. After that you should have a direction or at least an idea of a direction.
Hello rina
hi there, you;re in the right place to learn lots of people here willing to help lessons learnt. don’t over trade, use good risk management, find your trading style & use a good broker, happy to help
check this guy out great session and no BS pardofx
oh and checkout Hugosway broker
Hi Rina! Welcome to the community! Check out the School of Pipsology to get educated first. Good luck!
Welcome to babypips Rina! Hope it’s not too cold where you’re from and yes you’ve come to the right place. While I’m not the wise trader you’re looking for, there are many out here if you just go through some of the most popular threads. Folks here are pretty friendly as well so you won’t have a problem asking questions at all!
Hope to see more of you here!
Welcome to BP Rinaaaa! 
I understand how exciting trading seems to be, but yeah. I agree with your friend. 
It’s really best to learn and learn and learn and take your time before really going live. 
I’m just happy he brought you here. 
Well. Haha. We have tons of those here! The challenge will be choosing which super smart and wise guy you wanna watch.
Anyway, I hope you enjoy it here! I’m excited to get to talk to you more. Haha.
Welcome to babypips, Rina! Have you started with the babypips school? I think it’s also going to be hard if you just follow someone. What if he stops trading or something? Then you’d have to stop too.
Practice on demo account
Read the whole school of pipsology
- Get used to Losing with stop losses. Do not move them about. Take the hit and plan the next trade.
- After taking a series of losses, don’t get sad. Stay positive and keep a clear head.
- Profits seem to come rather easy, until you take a few losses. Then refer to step 2. Never violate step 1.
The market changes regimes , sometimes mean reversion is ideal. Sometimes that will cost you a lot of money because the market is trending.
In a downtrend there are still upmoves. It can be hard to tell the difference on whether or not the trend has changed or if it’s just a simple blip in the radar.
Thank you! Love all of this!
Always nice to see the OP reply! Throughout the many threads I’ve read, I’ve seen countless times when the OP just lets several people answer (as in take the time and effort to write responses) but not even respond back. Makes me sad.
So good job responding! I look forward to reading about your progress in the coming days.
Well worth checking out “No Nonsense Forex”, run by an American guy called Patrick (AKA VP). He recommends going through the entire Babypips educational material first though (Forex 101, as he calls it) … before he starts debunking most of the “conventional wisdom” with his own Forex 201! He started his Blogs, Podcasts and YouTube videos about this time last year, but really ramped things up about 6 months ago, with new content weekly since then. Highly recommended, and it’s been a real eye opener for me.
sorry to disappoint on the super smart part,but here is an idea for you. go to forex source,a website by Jarratt Davis. he stresses fundementals over technicals. combined they make a great team.
Hi Rina,
I have been trading Forex since about 2010, and I have been trading successful since 2015.
Some may ask what do I mean by successful trading? It’s how I make my living, and my living is good.
There is only one shortcut to successfully trading Forex, and that is to find a Mentor that’s actually good at trading Forex. Notice that I said Shortcut because there’s a lot of great free information and training on the internet. Baby Pips is a great place to get a very good understanding of Forex.
But understand this, what you don’t pay in training, you’ll pay for in losses. As the old saying goes, “You get what you pay for”.
Think about it like this; When you were 16, you passed your written test to get your Driver’s Permit.
Now imagine, getting behind the wheel of a car all alone without an adult driver sitting beside you?
It would be a nightmare waiting to happen.
It’s the same with Trading forex, you can learn a lot from this site alone. I think it’s one of the best Forex sites on the internet. But nothing beats a good a mentor.
Let me give you some (simple) advise as a new trader; Yes, it’s true the market goes up and down and sideways and you should be able to make money by ping ponging back and forth.
But, as a new trader, if it’s a Bull market, be a Bull. When it’s a Bear market, be Bear.
Follow only the larger trend until you fully understand the market. New traders often get on the wrong side of the trade trying to catch small moves.
Stick to the larger trends, use price action, use support & Resistance, use strong/weak and trade off the larger time frames.
Thanks so much, but so far my progress has been dismal. I’ve been trying to read what some people post and it looks super complicated. I see 10 lines and triangles and it’s overwhelming. I’m thinking about switching to stocks because at least I can intelligently research companies and make educated decisions. So far this feels like throwing my chips down on a roulette table and 70% of the time I’m wrong.
And how does one become your student:slight_smile: