Hello!
My name is ML and currently i live, study and work in Denmark, not danish thou. I am 20yrs old. Been interested in trading for an over a year for now, started with binary options, of course a failure, now i am determined to learn as much as possible and be confident and constant in demo account. Have been studying fx for about 3 -4 months now, finished school of pipsology, recommend to everyone, unreal information and concept of school, really appreciate that you have created it. Currenctly my goal is to open an demo account in one of the brokers and trade it for half - 1 year, till i become confident in myself and have constant profits. I have some brokers on my list, could u give feedback on these or suggest yours please, thank you!
My broker list: etoro(dont know if its a broker or not, checked for min), admiral, plus500 thanks for feedback!
Greetings ML and welcome to the BabyPips.com community! Thanks for sharing a bit about yourself and congrats on finishing the School! One quick tip is that once you’ve developed a method that makes sense to you (entries, exits, trade management techniques, risk management plans), move on to a very small live account to start experiencing the psychological aspect of risk management. That may take one month or it may take 5 years…who knows but I wouldn’t put a time frame on what that is.
Anyways, we all have our own specific needs when it comes to brokers, so it’s probably best to try all of those brokers on your list out and see which one best fits you. Good luck!
Thank you for reply! I like how in babypips, forums and in the school, quite often its mentoned that, before moving to live account go to demo at least for 5-6months, now i understand why. I was really sure that for my personality i will be a scalper on a 15-1h timeframe, cuz im really inpatient, 1st day of trading from 1k euros - 923, in about 10 trades, using strategies, indicators etc. and i had to stare at monitor all the time, as a ex games, no problem in that later on in turned out that i caught myself just staring at these indicators and just simply using strategies, didnt even care about what was goung on charts and + all these commisions(spreads) for me it was waste of money, so in the end, yesterday, i switched to 4h - 1D, price action trading, no indicators, no nothing, pure charts and some Supp, Res, Trend lines, thats it! It really works for me now, have to study price action now more deeply, i set up 3-4 trades MAX! checking charts once in 2-4h depending which timeframe im using, thats it. Yesterday + Today= 173.3pips (158eur)
My point is, for newbies like me, just read all about it and study from A - Z(i was “only reading” for 3months), and then start doing trades in demo account and set goals or bullets what you want to achieve and learn in that demo account before moving to live, in just 3days i achieved my 1st goal - Create my comfort zone(Currency pair, time frame, trading style), thats just one of the goals, so just learn, learn, practice,practice, practice,practice and be confident and follow all the rules u have created for your trading style, thats a suggestion from what i have experienced right now, thank you!
later on in turned out that i caught myself just staring at these indicators and just simply using strategies, didnt even care about what was goung on charts and + all these commisions(spreads) for me it was waste of money, so in the end, yesterday, i switched to 4h - 1D, price action trading, no indicators, no nothing, pure charts and some Supp, Res, Trend lines, thats it! It really works for me now, have to study price action now more deeply, i set up 3-4 trades MAX! checking charts once in 2-4h depending which timeframe im using, thats it. Yesterday + Today= 173.3pips (158eur)