Newbie to it all!

Hi all! Been toying with the idea of trading for a few years and then found this resource which is fantastic, trading on plus 500 with a practice account, going through the baby pips school resource as we speak. Looking to be executing a few trades a week within the next few months. Any help you can give is much appreciated!! Thank you, Dino

Hey Bacciocchi, welcome to Babypips! It’s a great place to get your feet wet and then the rest of your body once you are ready to swim lol. As far as friendly advice is concerned, this is what I have learned for myself:

  1. Be patient and easy on yourself, give yourself more time than you think you need. One year of study and practice is a good starting point. After all, don’t forget, the pros went to school for this, they have at least four years of study to begin with, not to mention a few more years working from the ground up in banks and institutes.

  2. Trading psychology is a MAJOR factor in trading. Once you have your trading strategy down, it only factors about 10-20% of what goes on during a trade. The rest is all mental. So get your mind together or else it will be a roller coaster of emotions. A great book to read on this is Mark Douglas’s Trading in the Zone and The Disciplined Trader. It made a huge difference for me, I considered them my text books. I spent a little money investing in these books and I got to appreciate how it saved me, as well as helped me, take profits in the long run. Order them on Amazon as it will be much cheaper than buying it at the book store.

  3. Last but not least, is if you can find a good trading coach in your city, where you can have live teachings and regular lessons, that will be the best thing. A lot of information you find on the internet is very piece meal. We have to take all of it and try to assemble a somewhat coherent strategy or system of trading. However, with a good coach, you will have a good template to start with and a proper syllabus to follow. Also you can ask your questions directly and get answers fit for your own understanding. A live environment of study I found for myself to be essential.

[The above points I copied from a post of mine from a few days ago to a fellow babypipper, as it encompasses everything that I think to be important, so don’t be surprised if it looks familiar or if you see it in another thread :slight_smile: ]

I wish you Godspeed in your journey and wish you a warm welcome to this helpful community.

Thank you so much for your comments! I will take them on board and hopefully will find a strategy to suit in time, I’ll keep you up to date with my progress, Dino