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.
Anyways happy trading.