How many people spend thousands of dollars to learn “economics” and still lose Hella money in the market? How many people read everything on babypips and still lose Hella money? Or just lose in general? I guess this is why there is a 2% and a 98%. I’m not saying babypip’s education is bad, but I can bet money some of the most successful traders didn’t go to school or read anything off this site. Just throwing that out there
The babypips school give a good overview and general knowledge. Helps catch onto the jargon and gives good descriptions about the indicators and what they do also the candlestick patterns. Probably takes a few months of the learning curve. But no amount of reading is gonna help you deal with your inner trading demons. And the best way to learn is by trying and making mistakes.
I agree with you. The market isn’t forgiving. But if you prepare for worst case scenario you will be miles ahead of the game (or market whatever you prefer).
The real education comes from research and actual trading…and while some traders may not have gone to school and just skipped the whole “education comes first” phase, damn sure they made loss in the beginning and learnt from their mistakes…
I was one of them lol. But now I have an accountant trade for me and I have seen no one pull of the magic he has been able too. Careful planning and being prepared for 2000 pip drop is what’s keeping us so far ahead of the market it’s rediculus. School works for some, but doing it your own way and not using indicators is so rewarding
Bank and hedge fund hire some guys with very heavy school background, and they make a lot of money.
Wannabe retail traders read some pseudo-science books and tons of stuff on the internet, repeat again and again the same stuff (stop loss, never risk 2%, its all psychology, blahblablah) and every body lose money.
Let’s face it : all the actual retail traders know that you gotta " cut your losses short ", and " be patient ". If everyone is sharing the same psycho advices and no one is sharing some working system + more than a year track record, there’s a reason.
Now who’s winning money ? the guy with a Harvard PhD in probabilities and financial mathematics working at GS, or the retail traders with his technical analysis ?
Think about it: if TA was working, banks would be doin’ it.
You need one strategy that works, no PhD is needed to make money. On average, 30% of retail traders are profitable. Anyone can profit with the right strategy, all you need to do it craft it or discover it across the world wide web;)
Oh well, what nobody can teach you is what makes traders succesful because everyone is unique and what works for me it won’t work for you.
It depends, the one with higher economic school background is better than another one with only trading experience. But there were a lot of people can earn a lot of money in Fx without a school degree.
Anyway, try to study and combine with trading for earning the experience and applying the theories, disciplines,… which you studied.
Here we all went trough the School of Hard Knocks before going to BP School. Oh yeah!!!
Psychology trumps everything - if you do not have the patience to let a trade play out, chances are no amount of education is going to help you squat…
My trading strategy is extremely simple yet very well refined and complex. 600+ trades in the past 3 months without a single loss (-(always 10 pips per trade)… Risking no more than 2% of my account balance. Yes perfection exists IF you don’t make a minor (yet detrimental) mistake. That’s the human error aspect. I’m thinking about selling this system to a bank or something but why would I want to make them successful? Why not make the average Joe a fairly decent return for a small percentage? I want to run a hedge fund but setting big just came up so now I’m going to have a friend trade the system for me cuz I will have no time with all this work and travel…
Are u going to back up the claim with a myfxbook?
Are u going to back up the claim with a myfxbook?
Now how is it smart business to share a perfect system with the world for free? I can take pictures of my oanda account with the trade info to show you I’m not bsing you
Please, Not Again!!! Do me a favor, just have some back up if you lose investors money.
You can make private all it entries and exits and just show percent returned.
There you go. I’m not screwing with you. This is only last months results. But it should tell you I’m not pulling your leg. I normally put in a thousand every two weeks so that’s the reason for the deposit of $940. This is a rich mans system. The more money the more profit, all I would need to do is scale the units per trade up
Sorry, too perfect.
I don’t care if you believe me. The truth Is the truth. I have no reason to post doctored results. How am I going to financially gain by doing so? I’m just saying school doesn’t produce results like this, simple basic math with loads of calculations does