Id like to share what I learnt which took me from noob to a beginner. We’ve all done it (I hope) read the basics, read blogs, looked for signals, tried to copy etc. and the problem lies right in your first steps. Many traders don’t progress from the wading pool of ‘looking for the answer’.
So. How do we get out of the wading pool of flith that everytrader before you has defected in before getting out? It’s all about our approach and mindset.
First, you need to forget about ‘looking for the answer’ or searching for some guru that will hold your nappy while you poo. You, and only you, are responsible for your actions. You need to make your own answer and hold your own nappy. Simple - but hard for those who cannot let go of the training wheels or even see that they are doing this.
This mindset has to be done before you begin to progress at all.
Next - and you’ve read it a hundred times before. Create a strategy and STICK WITH IT. This means create your own strategy. Don’t try copy someone else’s - but get ideas from others that trade your style. Don’t deter from your strategy at all. This doesn’t mean it will never change, but changing daily and every trade isn’t a strategy. And evolve your strat slowly over time. We have heard it before and there’s reason why.
Then here’s probably a shock to most noobs. Indicators are not your friend. Get rid of them. All of them. Learn to draw lines of support and resistance and trend. Learn the charts with nothing but what you draw. Don’t even think about indicators.
Then - after you can read the charts and predict the movements - add 1 indicator and learn how it works and how to use it. Only 1! And when I say learn how to use it I mean everything on how it works and customise it to suit what your style is.
And the last point I want to make is this - join a group of traders (not noobs) and find a trader of your style that streams themselves trading live. Watch them. Take notes n how thy interact with the charts, and follow their strat. Then evolve your process from the things you learn from a pro. (Don’t just copy)
Simple stuff hey!? Like super simple. But how you execute your habits determines how simple or hard your making it for yourself.
I won’t be apart of babypips much longer but will try answer questions if anyone has any. Babypips is great to start and learn but given the majority of the content I’ve seen since being here I feel it not for traders and more so people who cannot we past the first tip I layed out.
Thanks to share your views, However, it is not always easy to craft trading strategies of own, especially for the beginners it is a little tough task! But the other suggestions are quite well.
Very effective tips for newbie. I want to add something for newbie. If you want to be a trader, first learn that forex trading is not easy. You may have heard that there is lot of money in trading and so making money is very easy. Yes money is there but to get that you have to be skilled enough. And in 3 or 6 months you are not going to be skilled. It’s a long process. First understand some facts then come to trading.
last line you in your message , really like it. beginners level first of all have to make sure some inevitable part before real trading steps , otherwise there is no chance to survive here with successfully.
Ok well first up, I’ll be leaving cause I really didn’t find any value here. This is mainly because I have been through the basic before I found this place. It’s still a great site to ‘start’ your journey. Second - trading forex is easy, not hard. But it’s hard to learn how to do it profitably. Once you know it’s easy. Third - why only one indicator? Walk before you run? Try trade 12 different currency’s at the same time vs 1. One step at a time. Honestly - you’ll make more connection to one thing at a time then having 2or more.
In the end I know not everyone has the correct mind set or brain pattering, which is why we are all better and worse at everything against another. Another word of advice is - could your time spent ‘trading forex’ be more profitable spent doing a hobby you love but haven’t capitalised in yet.
agree, in demo before real trading , we can use leverage and any trading strategies to see the performance how it works. this approach will help us for avoiding risk and loss when trading in live.
Couldn’t agree more. Sometimes the things we can make money from are things we’re already doing!
Not even the community? For me, talking to other people with the same interests still gives me that sense of belongingness and it also allows me to get a quick break. I’d much rather spend my time here than scrolling through social media - just because I’m free from the drama I’d normally see from friends and relatives. Heh.
Sorry it makes me kinda sad that you feel this way. But then, I respect your opinion.
It’s just that, BP is where I began. And honestly, it’s where I go to escape the frustrations courtesy of my demo trading AND busy busy life. I think the people here are nice and they’re experienced traders who really try to help. I think they’re just great. Although I really love the school and I keep visiting it, I feel like the value here is really coming from the members and the community in general.
How long have you been here? Maybe you could spend some more time here to get to mingle with them more? It’s worth it!!!
I’ll say this and say it once. Seems people find greater concern over the fact ‘I’ didn’t find value here and am choosing to not be apart of the forum in the near future. This is one of the mindsets you need to rewire. Learn from what’s presented and continue on ‘your’ path. If a paths not yours don’t try relay it. If you feel your missing out of more helpful tips then you still haven’t learnt the first tip I gave. Either way to many people who have pmd me sorry if I haven’t got to all of the messages. I will try tonight.
I think this is where what the millennials usually say apply: “you do you.” There is nothing wrong with finding this community helpful and/or staying for the regular chitchats in the same way that there is nothing wrong with leaving also. We’re all adults here and can respect each others’ opinions and decisions.
What it just boils down to (at least for me) is sadness over the fact that someone from is leaving. I think that is all. We don’t want to see you go but also respect your decision if you do.
In forex trading, it is easy to explain but very difficult to achieve success. I agree with you. Every newbie trader should stick to single strategy until the desired result achieved. Most often traders bounce from one strategy to another. At the end, the outcome is baffling.
But success in Forex is open secret for all kinds of traders , first of all you have to be a skilled trader by passing a long time with great patience, and besides goo knowledge and experience you have to ensure a reliable support from a credible trading broker , because broker can affects the result of our trading with certainly.
