I think I’m going to graduate Pipsology preschool tomorrow! Not sure if I’ll really use my spreadsheets longterm, but they’ve definitely helped with organizing and understanding the market times, currency pairs to start with, conceptualizing how pips/profits/margin are calculated and used. I’m planning to finish up content on margins tomorrow. I’m starting to feel like I’m walking into a cave realizing I need to be able to put down a relatively large chunk of money for a starting balance (but of course, demos before I even think about using real money) bahahah starting to finally see the yellow flashing lights!
I think of my learning as an investment into myself. Also moving back home has been a real motivator (still young adult but adult enough to need my own space). Speaking of–I stay focused by creating a private space that mimics what I’m used to doing ‘strenuous academic work’ in (coffee shop or bakery). Some jazz in the background to drown out noise or silence if I need to really think, turn my phone on DND, take cleaning/boredom/other necessary breaks (no point in reading if I’m not really paying attention).
Just keep a balance, stay realistic, give time for growth in learning.
I’m not trading yet, so I don’t really have much advice there…wishing you all success and motivation
It started with some lows, then grew to a great profit but it nearly all vanished a bit later, now up roughly 10% so hey! Lots better then leaving the money with the bank
Springtime was very humbling. The markets changed. My systems went from high win rate to losing money and I waited longer than I should have to pull the plug and reevaluate. To prevent a recurrence, I wrote code to scale back risk automatically if a system starts to lose more than it should. Another lesson learned…
I feel happy anyway! Cheers!
I’ve been a student of FX off and on for a few years but have failed to take the plunge. I’ve worked with FX simulators a few times but continue to be perplexed with some basic concepts, so I don’t advance. Not long ago I bought a copy of The Art of Currency Trading by Brent Donnelly, a really amazing book. Taking notes from it, I’m not pleased with my extremely slow pace of learning. Going at it completely alone with nothing more than books, I don’t recommend. I suppose that’s why I’m “here.”
I mean I don’t mind but I don’t believe a trading strategy is something you can learn directly. A lot of how well it works is down to personal preference and opinions.
Not bad, still have to allocate more time to trading.
I’ve had a string of losses so i have to become a beginner again in order to change what i’m doing in order to get into profits.
I have also seen people learning trading at a rapid pace but trading is taking a while to get fully adjusted to it.
Not been all that great. I think this year I’ve mostly been EXTRA cautious that I didn’t get to take advantage of so many dips. Sucks because for sure this was a once in a lifetime opportunity. Jealous of traders like @Lang15 who have been able to make the most out of this situation.
its not been easy but every experience and failure leads to a newer knowledge for greater success. sometimes I am emotionally touched when i loose but am overcoming that gradually. when I ma emotionally down for loss, it makes me sometime to loose more or do reckless trading in the bid to covering up
Hope you’re not being too tough on yourself! We need to remind ourselves we’re living in a difficult time - there’s an actual pandemic going on. So take it easy and take time to stop and just relax for a bit! Good luck and I hope the remainder of the year will be a lot better than the first half!
Oh my. 12 hour days! That’s crazy. Are you going to the BabyPips School of Pipsology the entire time? Or is it a mix of different platforms? I’m impressed by your determination!!! That’s a rarity nowadays so I hope you keep it up!
It does not always have to be great in the beginning, that’s how we learn. In the future there will be more of such plays and learn from our mistakes. The typical saying “History always repeats itself”, at least you will be prepared when those plays come again because will have had that experience.
Crazy right? If you come out of 2020 without learning new skills… that’s a huge missed opportunity right there. That is of course if you had a lot of spare time and not actually trying to make ends meet or mentally/emotionally struggle through this horrible time.