Hi All,
I’m very new to Forex and Trading overall. I have always had a knack for speculating foreign currency outcomes over the years and had a small internship at Charles Schwab straight out of high school eons ago. I have a day job but for some reason just have this calling to really go for it this time and learn all I can.
I’ve invested in some trading classes and demo accounts not to mention have started the School of Pipsology. Although I live in the UK (originally from the US) now I will be taking a class around Wall Street to emerge myself into the market first hand and network. I travel a lot so may even go see my friend in Chicago and if I can set aside the time go to Japan.
What I don’t have a trading plan as of yet but one things for sure I’ve learned is that patience, learning is important. I have no fear of finacial loss cause I’m not going to fall into that mind set of taking such a huge risk. I may sound practical but in fact I’ve taken huge risk in the past. None so far that have been bad…so knock on wood or whatever’s around.
You guys are sooo cool and my mentors! To be honest, I feel I’ve a huge mountain to climb but I’m determined to conquer it!!! I’m a bit overwhelmed and intimidated that I may sound very dense and dumb to the industry but hey we all must crawl before we wall so for that alone I have no shame.
Hi Mchannet, welcome to this forex community. Patience is an important factor in forex trading that helps to take right decision while trading. You are new trader but have sufficient knowledge about trading.
I’m pretty fresh myself but learning fast. Just don’t get ahead of yourself and soak it all in. Jealous about your possible trip to Japan always wanted to go.
Anyway you have any questions, all you have to do is put up a post. There are a lot of knowledgeable people around who are glad to answer your questions.
The truth of the matter I don’t know anything about Trading but understand the concept. I’m just not versed on the mechanics nor the technical aspects on how to work with the tools and information given to me.
I’m taking a class soon for just to get my head around the general stuff of Trading overall. I’ve seen in the forum where many look down on classes due to them being potential rip offs etc. but I know what I want to take from the class so I’m fine with that. I’m in the field of technology for instance and I know for a fact that no one can be taught how to do something in one week without the interaction of the person practicing on their own in real time. But on the same token I know that you get a better benefit from a live class rather than an online one etc. I’m approaching it from all angles and will eventually give into the best angle that suits me for my learning curve.
So far my biggest issue has been the lingo which I’m slowly catching onto but most of all working with the software. I don’t know what the hell I’m looking at and theres soooo many damn online brokers to choose from it’s driving me crazy!!! And everyone wants me to trust them…go figure.
Thank you yunny1
I have no idea what you’re talking about when you reference higher time frames, S/R and Price action!!! lol! Go easy on me I just made it to kindergarten in the wonderful School of Pipsology
Thank you I’ll look everything you’ve mentioned up, thanks again. I hope to get good at this some day.
Welcome to the forum, Mchannet. I would say that by acknowledging up front that you don’t know anything then you have made a good start! This is a great place to ask any sort of question, particularly the ones you think might be daft. After all, it’s anonymous, so here is a great opportunity to ask anything. The BP school is a great help to give you a foundation knowledge, it’s a great starting place - although it is likely that you won’t use most of it in your eventual trading style.
In terms of your search for a reliable broker, there have been various threads on that over the years, or if you boil it down to a few ask on here and you will get many shades of opinion. Personally, I am in the UK and swear by ETX Capital - and they even funded my account with £100 when I opened it, although I don’t know whether they still do that - but others will have their own views.
You mentioned training in your opening post - can I ask where you trained/intend to train? I’m a fan of training courses myself, so I am not looking to knock the concept!!
Anyway, welcome - you are making a great start by starting with BabyPips.
Yes, I am quite new. And have quite a ways to go before I can even fake it in a conversation!!! lol!
Yes, I do know many knock the training concept but as Im in technology and have taught people how to use software I can say that one week is not good enough for anyone if they don’t practise on their own. For this reason I rather spend my classroom time with some knowledge so things can be more fluent rather than for the first time ever. A class isn’t a magic wand but a tool and I am collecting as many tools to help assist me as possible.
I know you have attended the Knowledge to Action classes according to a few post I believe I saw of you (is this correct?)and if I’m not mistaken ETX Capital is one of their preferred brokers they recommend. II didn’t want to only learn about Forex and for two days it was rather costly. For the exchange rate of the USD I would’ve gladly taken it over in the states if there was such a deal but that’s way I’m here at BabyPips For now I have the advantage of flying at 80%+ discount via being related to someone in the airlines hence my willingless to hope on a plane.
I attened a Knowledge to Action seminar and it blew me away was actually quite good but not quite what I wanted. I am attending the OTA class in NY. Not only for the class but to see the exchange/market in action etc. Less not forget the GBP/USD for shopping maybe I should’ve done Canada instead to take advantage of the CAD instead then huh? Been there I rather to enjoy NY I know that both schoools have their pros and cons but I really need to network with people and really make up for the human enteraction that I don’t get a chance to get because of my day job. As I mentioned in my previous posts I want to make sure I emerge in what I want to learn. I could be wrong…if so oh well you win some you loose some.
I barely know how to read the financial times but have been very successful in speculating without failure the currency etc trends hence my need to finally put 1 &2 together. I know that some of these classes are a bit too much as people have said but it’s about how much money you have to waste…or invest as with anything. Spending £2000 on a class is just as much as a waste to me as spending a week at home for free on the computer and learning nothing if I don’t get anything out of either. From my experience…money can always be made if one gets off of ones ass to make it. At some point theres always a willing buyer.
I’m working with Oanda now…but doing my best not to over load and over due with joining too many of these places. Any words of wisdom is always appreciated.
Yes, I have lived in a few countries myself, but keep gravitating back to the UK. I also think that the timezone here really suits trading and the times I like to be at the screen.
(And yes, I took the K2A course but to be clear I was not pushing it here, just interested to hear about the alternatives!)
Hi guys, I’m a risk analyst by profession and used to trade the market buying and selling shares the traditional way. I have recently started a relationship with IG Index and have been trading binary options on the ftse and Dow jones. I am interested in going into the forex trade as well in binary fx. I have read people talk about strategic arbitrage software and the lot and I am wondering if anyone can enlighten me on the whole fx game please. I’m uk based. Thanks
I’m based in the UK as well. I think that you may want to start a new thread with your question. But for what it’s worth please check out the “School” tab and got through the School of Pipsology tutorial - it’s an excellent resource. you may also want to check out Fxbootcamp dot com for online solutions.
Hi Michael and to the other newbies,
Welcome to Babypips, this forum is as good as any place to get started and there’re tons of info available here so check the lot out and start with the demo.
