Hello everybody )) . I am trying to learn since September 2020 . Till now I am only trading on a demo account . I have opened a real account but I don’t feel ready yet for real account . I am from Greece . I live in Corfu island . I knew about forex (XAUUSD actually ) through cinese scammers . After that the scam was uncovered I started to try to learn by myself mostly through videos on you tube . I like trading . I would like to make money for living and if I manage also to grow and become very succesful . I know that it is very difficult . I know that the market is been manipulated by the banks , the market makers etc that they use algorithms they see through our brokers our positions stop losses etc , but I still want to try and learn and trade good .
What it concerns me is what professional traders (like Anton Greig ) think about us and about the education on tecnhncal analisis is been given to retail traiders . Anton Greig says that technical analysis is not good ( it can be used only for small timeframes for better entries and that fundamental analysis is needed for a real trader . Anyway First lets study and learn the technical analysis . Happy New Year to everybody , stay focused , stay disciplined and may the markets go with you as Stacey Burke use to say .
Hi Apollo47,
I have been trying to learn since about 1988 (
and I still don’t know what I want to do when I grow up. You have chosen wisely to join BabyPips. Enjoy the School of Pipsology, and try to start at the start and do the quizzes. That will be very valuable as you progress. This is my fourth lifetime approach to trading. I rejoined the community most recently mid 2019, have still not finished the entire school of pipsology, but I feel I know very much more than I had done in 1988, 2005 and 2010. Today I am very comfortable trading - I like to think that I follow the book (make a strategy, a plan, backtest and participate) but it has taken me a long time to reassess my own comfort zone. So be patient, and enjoy the journey.
Members on here are really good at answering specific questions. Be active and you will learn a lot.
Hello and welcome. Of course you aren’t ready to trade in the real world for You-tube videos won’t do much good. So, let’s start by starting afresh and the School of Pipsology could prove to be of great help to you here. Forget about how the market works or who controls it. We do know that people have been minting money through trading. Focus on your game and get the facts cleared. Keep practicing on the demo account though and analyze the market trends daily. There are some really experienced and great traders as part of this community who’ll help you.
Thank you for your advices Mondeoman ))
Forex trading is a rewarding career. But only if you are ready to do your learning properly and become capable of making profitable decisions. While you go live, you will realize that forex trading is not what you learnt from your books. There is so much that you will have to do in the market in order to make profits.
To make good trades both technical and fundamental analysis are required. But most important out of 2 is fundamental analysis because clearly the course of your trades can change drastically based on any fundamental event that has taken place in the economy. So you can skip technical for a second but fundamental clearly no chance.
It takes time for a trader to make money in the market. You cannot go far if you are not ready to take challenges and risks. You will be required to risk your money so that you can make profits on that. Remember that making losses is an important part of your trading career and you cannot avoid them completely.