Babypips school has indeed been very valuable for me. It helped a lot to understand the fundamental basics of forex. But you’re right unless we start practicing the actual trading we won’t learn much. In forex practical trading is as important as your knowledge. And consistency and regularity in practice is a must!
Yes , no way to avoid it , but for ensuring good knowledge and experience from baby pips , minimum you have to finish this level 2 -3 times besides practicing a demo account.
Both experience and knowledge are important. Actually they both are related to each other. Education is must for forex trading as it is a work of professional. To become a professional you need knowledge. You have to reliably sharpen your trading learning if you have to stay long around here. And experience comes when you educate yourself.
Completely agree with you. There is no secret of trading and still you want to know then it is nothing but your skills and trading approach. Both can be enhanced by learning and experience.
generally we think only learning can bring good result in Forex trading but practically despite of good learning approach trading can be useless if there is no regular practice.
Yes you are right. The real secret of trading is knowledge and skills. Success in trading is impossible if you do not have knowledge and skills. There is no holy grail. It takes time to be skilled enough. But most people want to make money quickly without being skilled.
Forex trading is the best platform for those who start trading after learning about the market. You should have to learn about the market and also you must have to take knowledge about doing some research on the market. This is the secret behind the success of professional traders.
So, according to you broker is more important than the trading system/plan? Wanna know your answer.
That is completely true. Earlier I used to trade on fundamentals like release of economic indicators, central bank verdicts, news etc. But soon realized that these fundamentals have extreme volatility for few hours. And trading in those hours is not always profitable as we face extremely High spreads and instant execution is next to impossible. Recently, I have started trading using technical analysis mainly by observing chart patterns and have made generous amount of wins. Looking forward to more such reports from you. Keep up the good work!
Forex Trading is all about how sensible you are with risk taking. Higher risk may fetch you a handsome profit, but that will only be 1 out of 100 trades. On the other hand, sensible risk taking invites neutral losses and profits. NO MATTER HOW GOOD YOU ARE WITH MARKET ANALYSIS, in the end its all about uncertainty. So I have a simple guide to help you step into this trading world.
1.Research on all the majorly used technical terms
2. Look for ECN brokers. Don’t even think of choosing a market maker; they play against your trades.
3. Keep an eye on major indicators, events. These help you to have an over view of the market.
4. Follow a report writer and study those reports.
5. Now you have done enough home work to play a gamble in the most intelligent way.
6. Make a demo account and try out various trading styles like scalping, day trading, swing trading, long trades etc. You can also attach EA’s to your demo account to test their styles.
7. Switch to live trading with a minimal lot size. Don’t go for higher lots at all. Even though you make a little profit it won’t be of any use, brokers commission will eat it up all
8. Go slow with your risk and place trades.
I have been trading for so long but i have not find any secret till now which can turn you in a successful trader. you have to pull up your socks to survive in this world and to earn decent money. so forget about secrets and be well disciplined, develop a good trading system, learn proper money management, have patience and keep learning to be successful.
1 Like
So far I haven’t found the secret to trading. And I don’t think I ever will. IMO I don’t think there is any particular ingredient for success in trading.Success in forex is all about your knowledge,skills, discipline, patience, timing, strategies and risk management. 
1 Like
it say 95% traders fail in forex trading. i would say the only secret to forex is do the exact opposite of what those 95% people are doing. 
1 Like
Hi Everybody, nice thread with some great content which i think really sums up the conversation in itself. Trading is without a doubt a very individual game and there’s no strategy that will suit all. You could have two people using the exact same strategy but with two different personalities and the results will be very far apart. Our advice is similar to above, manage your risk - this is key as it will release some pressure on your mentality. If you are risking to much and your trade starts coming back on you it will fry your brain and you’ll start making bad decisions. Keep your lot size correct for your account size and set your stop acordingly with your TP. Chart reading is vital, become fluent at this and you won’t go far wrong. If you find indicators work for you then great but for new people, please be aware that indicators do lag so don’t depend on them. Lastly, the secret lies in your state of mind… make a log of your mood in the morning everyday prior to trading. Be honest with yourself in doing so “every mans best strength is to spot his own weakness” after a month, go threw your log and match it against your MT4 results. You’ll see a relationship between your moods and your trades. Maybe a bill was due on a day you entered a bad trade and now in hindsite even you agree it was an obviouse bad trade. You’ll learn alot from looking at ones self. I hope this helps and good luck
1 Like
I know you are probably in China, and you are just trying to make ends meet by being part of a posting farm, or maybe this is just a bot, either way, take some time out to learn about Spot currency trading before posting.
The Ever Not Buying Likes, Followers, From A Seedy White Guy In An Ally VIPER
Liber8 _bob
Looking at this thread I am reminded of this movie kungfu panda when Po realizes that there is no secret ingredient. I think it is just like that. After a while you realize that there really isn’t any secret or magical potion that will get you success in forex. Whatever it is it is all out there - your skills, experience, willingness to sweat it out till you make it work, discipline, dedication and passion. Some people have all these qualities in them and improve upon it further. While for others forex trading simple just doesn’t work.
2 Likes
Nice example with great description , thanks for the post.
1 Like
Thank you very much for reply! Are you a Forex trainer?
Even in high voltage news session, like FOMC, NFP?? Really?
1 Like