Well, I can’t say. I’m a newbie in trading, although I’ve been hearing of this words without the slightest understanding what they mean, until just few days ago after completing the lesson on margin here at the school of pipsology.
Until you come to understand its function in every position you open (big or small), you may not see its relevance.
After all, the retail forex trading is a margin trading, so it’s paramount to understand margin.
Good idea
OMG!
Were you told, that “when you trade, you’re trading against someone else, that when you’re in profit or loss someone somewhere is in the opposite, and your broker is an intermediary?”
I have had this misconception, until yesterday after lesson 7 in the kindergarten level in school of pipsology.
Who then do we actually trade against if not someone else?
THE BROKERS!
That means, if I’m in profit, they’re in loss, and vice versa.
Mehn! There’s a lot that is revealed about brokers and retail forex trading in this level. If you haven’t read it, you really need to, it’s important.
You can get it here Forex Broker 101
Cheers to success.
My perception has always been that it becomes relevant only in practice if either your position-size or number of simultaneously open positions is excessive.
We are an aquarium in the boat!
That’s the lesson I still remember because of that picture that blew my mind at that time.
Awesome my friend your progression is consistent and smooth. I remember myself learning about trading against your “broker.” Absolutely mind blowing realization of how the actu.al system works. Looking forward to what we learn next! Cheers! 
Of course, all these only becomes relevant in practice, because this is what helps you in your risk management when coming up with your trading strategy.
Unless you know them can you avoid harmful mistakes when trading live accounts.
Babypips really did a great job with the explanations.
Most time I laugh when taking the lessons, as they not only breakdown complex theories for a baby to understand, but they add humor to it.
Thanks bro
This usually feels like being exposed to a whole new world. It’s always amazing.
For the new folks in the block like me, please be careful out there so you don’t fall victim of brokers who are out there to rip people of their hard-earned money.
Ensure to always do your own research (DYOR), before and even after opening an account with any broker.
Completely agree. As a newbie I have been back testing for only 6 months. And have found reading candle stick patterns with the WMA and EMA are good indicators for conflunce with direction and just add a volume analysis along with DOM and order flow mapping for additional conflunce.
I made that mistake with live trading. I won a few times, and I thought I had a grip on things. Little did I know that a storm of losses was coming.
Happy for the acquired knowledge so far.
I’ve graduated to the elementary class.
Cheers to success!
Awesome progress!
Keep on running my friend, the mountain top awaits!
Cheers!
Congratulations! Love also that you post here with stuff you’ve learned!
Definitely, mountain top all the way💪🏽
Thanks dear😊
Just completed the lessons on Japanese candlesticks, and already started fibonacci.
I had to go back to the Japanese candlestick lessons for more clarity.
It really seem like learning Japanese😁…but knowing the patterns and understanding them can be a great signal for entry, although it cannot be great if used alone.
There must be a confluence of these patterns with some other indicators like the support and resistance levels to give a good entry point.
Even better if three indicators are use.
For the pro traders, what indicators do you use and why?
Thanks for your anticipated answers.
It hasn’t been easy, phew! 
Just completed the “elementary school” and moving on to the “middle school” now.
They’re definitely right, I’m not where I want to be with this school, and that’s to complete it.
Cheers to success🍻
Learning the indicators taught in this school is quite interesting.
With the combination of two or more of these indicators, you have a strategy. It can be so tempting to flood your chart with tons of indicators due to how interesting their functions are.
But truth is, no matter your strategy, the foremost strategy is to K.I.S.S (keep it simple and straightforward).
I believe, regardless of what strategy you see out there, the best one will always be the one you DYOR (do your own research) on. Because with this can you make up the rules to support your strategy.
Also, as a beginner, having to test multiple strategies on several pairs before sticking to one strategy and pair (only if you want to) is the way to go.
Cheers to success.
Indeed! That’s the key, no matter what’s your trading style. Like i am into copy trading and focus on copying only those traders whose strategies are easy to understand.
