Hello Everyone!
So, I was hoping for help from the community: how can I accelerate my learning?
I’m not looking to “get rich quick”; I understand that learning takes time and I’m ready to invest it, I just don’t want to waste time. For example, I found babypips last summer, completed the course, but haven’t opened a demo account until 1,5 month ago. Why?.. Why? 
Anyway, I’m looking for advice from those who are already where I wanna be. I want to learn as much as possible as fast as possible.
Right now, I’m studying charting and technical analysis, practicing price channel trading, keeping a trading journal.
The goal is to get to 55% win rate with a weekly 1% account growth. It seems like a doable goal I think.
Also watching Youtube, learning how others trade and analyze the market; reading daily on trading channels; ordering books on trading; practicing with a demo account.
What else can be recommended to be added to this?
The only thing I can see right now is finding a mentor, but there’s gotta be steps to take before that.
All of that before actually opening a live account and experiencing the real world haha
Thanks!
…and money. Think of it as a tuition you must pay to the Market Gods. The best taught lessons are those where it stings the bank account.
Then you need to start trading (based on what you’ve said already…)
This is arbitrary and limiting. Your win rate and account growth should be correlated to the amount of setups the market gives you to trade. Going to be honest- don’t even try and think about hitting 1% a week-- hedge funds with billions of dollars under mgt don’t even make that. Setting constraints like this set you up for failure because the market should be dictating your trading activity- not some vague measure.
This is the necessary next step. The only way you move forward is by learning what it feels like to lose money- it’s just part of the process and basically un-avoidable.
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Thank you for answering!
I’ve read that most traders make at least break-even only after like first 3 failed accounts. I’m getting ready for this; saving up for my first account with $500. Not for profit, but just to feel what it’s like. Is there any books or other materials that you could recommend?
Seek out as much information as possible. Ditch that stuff that doesn’t “fit”. Continue exploring the stuff that “speaks to you”.
It’s about finding your own specific way of interacting with the markets, and not having to ever rely on anyone else’s opinion as to where price will move next.
Read every book you can get your hand on.
For me, watching the CNBC network (you can listen online 100% free too) helped elevate my game.
You will hear from CEOs, investment professionals, market analysts- all people who have been in the game for decades. Picking up on their lingo and how they approach the markets can also help you figure out how you want to trade. When you’re listening, any time you hear a phrase that you don’t know about- pause the stream, google it, and read up on it until you understand it.
I still watch/listen 25-30 hours per week. And, keep my eye on the markets 30-40 hours / week.
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[quote=“andrei042, post:3, topic:321820”]
’ve read that most traders make at least break-even only after like first 3 failed accounts.
[/quote]that the problem all these cliches
good advice
There are a lot of material about Forex tarding is available and you can accelerate you learning. Here babypips school is the biggest way of learning.
Why these numbers specifically? Does the larger play into the the 1%?
Also just beginning. But that sounds really ambitious, no?
Scalp all day in demo for a year. Then never scalp again with real money.
You will have condensed years of trading experience into one
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Do the School of Pipsology.
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Practice on demo.
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Find a mentor and get formal teaching.
Numbers 1 and 2 are the common answers… But number 3 clearly makes the most sense. I dont think mentors are often mentioned because the reality of finding one is so difficult so its avoided as an option.
Like someone mentioned on another thread, it will accelerate your learning and save you lots of frustration.
If someone you know wants to learn to repair cars, yeah you could point them to youtube videos, books and articles. Me personally? I would direct them to the nearest college.
Im on the same boat as you though and still finding my way.
Best of luck 
Or, scalp every day if it’s something that feels natural to you and you’re actually good at.
Trading strategies are not an all-or-nothing clause. Why box yourself into 1 single strategy, if after years of practice you find that you can manage more.
Personally speaking, and, anecdotally on behalf of other traders, a good trader can make money in any environment on any time frame.
What if you were REALLY good at scalping, took this advice, and never tried again? You won’t know until you actually put real money on the line and trade for at least 6 months - 1 year.
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I would advise you not to rush with this process. you need to understand that your future results depend on the level of training. I would advise you not to rush, but to focus on quality.
@FOREXunlimited
Yes I agree with that - however the chances of being a great scalper are slim.
If of course you are good at it fine go for it - and even when you scalp on demo it’s still probably best not too when real money is on the line - at first at least
@FOREXunlimited
I do disagree that a good trader can trade all markets and timeframes - sure if your Paul Tudor Jones but many lesser good traders have specific niches.
And the chances of making it as a professional athlete are even slimmer, yet all sorts of sports professionals exist today.
My point is- don’t limit yourself at the beginning. Soak up as much as you can mentally handle and just don’t stop. Once you start trading, make sure that you are optimizing the way you think- sleeping and eating properly, meditating, things like that. Read up about the concepts of discipline and how to maximize that skill. Trading is a lifestyle- not some “thing” that you just pick up and put down.
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This whole conversation exists within the context of a bell curve. Sure, the majority of traders probably have 1-3 specific strategies they employ regularly. As with anything in life, there is a spectrum we need to take into account here 
I view trading strategies as tactical or strategic- and, use both all the time.
Many professionals trade this way too.
Tactical being short term.
Strategic being med/long term.
@FOREXunlimited
I’m not disagreeing with that. I always see scalping like driving in a formula one car, while daily timeframes are more like driving a family saloon.
Of course we shouldn’t limit ourselves but I think being profitable is the first step for a beginner - I just think that’s more likely on higher timeframes at least in the earlier years.
How so?
If I’m only trading on the “Daily” chart, you’re saying I can’t over-leverage myself, trade without a stop, over-trade, not take profits and move stop to BE, pick bad entry/exit prices?
What is it about the “higher time-frames” that prevent a trader from doing all those naughty things?
@FOREXunlimited
You are correct you absolutely CAN make all those mistakes on higher timeframes.
But slower timeframes slow down the thinking processes - I believe that emotions are heightened the quicker the timeframes which clouds our judgement.
But maybe I’m biased I’m not afraid to say I’m a lousy scalper - maybe for most traders scalping really isn’t such a big deal.
This might be the only difference worth discussing!
Good chatting with you-
Have a PROFITABLE day!