New to Forex Trading

Hi everyone, Im Daniel.
currently 21 and living in Spain.
I’ve been studying Forex for a couple of months here on Pips, since October approx.
In Dec. i finally decided to throw myself into the real FX market, i didn’t care to lose my first 100 euros, i lasted almost a month before losing my starting investment but it was all about the first experience i wanted to have in this market.
I wont lie, it was another world from the demos… was just asking what would be some steps to take to understand better this market?
Anyone have suggestions where i could get some mentoring? maybe some online classes to understand better? im giving it my all, not giving up but its not easy trying to understand it all on my own.
Thank you and good trading to everbody.

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Did you go through the Babypips School here on the site? It’s an excellent source of information and Forex education.


Yes, I also suggest you to use BabyPips School; it’s the best
Forex course! Besides, don’t invest your own money right now! Build your
trading skill first than go for the real fight.

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Hi Daniel!

I’m new to forex trading as well. (You’re waaaay ahead of me, actually. :slight_smile:) But, I would suggest going through the forums since a lot of the pros and regulars here share really good resources! :blush:

If there’s anything they’ve taught me, it’s that there are tons and tons of free content online that I could maximize. There’s really no need to pay for classes. :slight_smile:

Btw, have you gone through BabyPips’ school of pipsology? So much useful information. :thumbsup:

Spend more and more time here to learn technical and fundamental analysis! Use the search option! You may get so many useful threads here on these 2 topics! Don’t go for signal service or any automatic trading.

Just focus on learning and practicing. As a best source of learning preschool level in this forum is best and part of practice demo trading is more suitable. Don’t hurry to learn Forex, it’s a continues process.

Mate… the problem with mentoring is…
No one wants to do it

it’s boring
it’s repetitive
newbies expect you to do it for free

if they offer to pay and you set a realistic amount of say a few thousands dollars to account for you time
then you get called a scammer

then… you have to do it for a few years so the person actually understands it and can trade profitably.
but they won’t, because they’ll run out of money and then call you a scammer when THEY FAIL.

what’s the upside to Mentor someone

so… the solution for people who actually know how to trade is this…

Trade for yourself
if you like trade for your friends
but if you delve into wanting to help strangers , you find yourself inundated with people who are
not committed and Plainly put, are a waste of time

this is why it’s hard to find good mentors

now, what you will come across is BS courses that will take you for a ride, they will also charge several thousands of dollars and not yield any results

and then, some people may claim to be mentors and know what they are talking about, but, especially here on babypips, i have observed that very few know, but a lot claim to be but don’t know

so… the problem is… mentoring is not worth it in forex
unless the Mentoree has patience , dedication and is willing to accept a few grand in mentoring fees to later earn a lot more a few years later.

sadly, most don’t have what it takes
and this then explains why 95% fo traders fail

it’s just how it works
so then when someone asks for a mentor, it’s general a futile effort that results in not much at all which leaves you disheartened and wondering… how do i get ahead… right ?
same old story


Yes first finish Babypips’ The School of Pipsology. Then I would request you to read at least one book. It’s The Disciplined Trader by Mark Douglas. The book is about trading psychology. Why being disciplined is important and how to be disciplined. It’s a must-read for every trader.

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Thanks everybody for the feedback, appreciate it

It will be nice to refrain from saying things like this, there are people living on 100 euros for mths. It may not reflect well on you. Bad impression may not get you much benefactor in life. Just my 2 cents worth of opinion. No offence.

I said i didn’t care to lose my first 100 euros because i was sure i would lose them, it was my first time going live in this market.
no need to get you’re panties in a bunch big guy. just my 2 cents of opinion. :wink:

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The soothsayer : Trading the Trend with Strong Weak Analysis

The Sage :

The Guardian : Profiting from noise. Price Action Trading on tick charts

The Champion : Leg0nd's System 13 Trade Journal

The messenger : Daily Fundamental Dose

Feisty one! Instant Karma… i deserve it.

Dont worry about it my man, wasn’t trying to offend anyone by the way.

Thanks for the link!

In my opinion it’s important to go with a positive attitude into trading. Yes, it’s likely that as a newbie you’ll loose money, but the goal should always be to learn and profit.

If any newcomer lose money by over trading or others immature trading activates there is no possibility to come out from losses. Both of traders lose from here , but the different is the newcomer who got learning Forex can take a lesion from losses but who losses by trading at random he got nothing. So, after learning don’t frustrated by your lose. It’s a path to learn your more

Most of them time newcomers attacked by the emotions and after having some losses they try to take revenge from here. As a result they lost their whole equity. For removing emotions and others worst activates they should be more disciplined on practice account. Otherwise they will not come out from current losses.

Hey Daniel you have started a journey that has many twists and turns involved.
Most mentors will want you to at least have some sort of experience of some sort (if they are worth their weight) as it will show that you have some sort of curiosity about the market among other things.

If the mentor gives you a system just remember that they designed it for themselves most likely, unless they obtained it from someone else, which you will have to make the system yours.

Another thing most people think trading is about studying the market but it is also studying yourself, how you react or respond to the market, its no good having a scalping system if you cant handle the pressure.


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