Creating this topic to track my progression through the school of Pipsology course!
Just finished working through preschool and oh wow.
I will definitely take some time to review much of the content before moving onto kindergarten. The lingo and the basic math calculations are evidently a must know from what I can tell. Also, making sure I understand the major, minor, and cross currencies so I can navigate the market (even though Iāll more than likely keep to major pairs when I begin demoās) will help lessen the complexity Iād assume.
Please let me know if there is anything at this current juncture that I should really get patented down before moving on. Thanks for the support!
The School of Pipsology is a great starting point for all new wannabe forex traders, I had completed numerous other courses before I found Babypips, and I must say this is by far the best beginners course avaliable.
Once you get through all the lessons and have completed the course you should have all the basic knowledge you need to go onto your higher education.
Back in January 2017, I was also started in Babypips and graduated after 1 month and a half if I remember correctly. And yes, this a good place to start because you get to understand a little bit of everything I would say. Even though it may not be so in depth, but at least you when you go outside, you know what to look for.
Aww. I love this! Haha. I think youāre doing a great job and I hope you keep the passion going as you continue on with the school. It can get a bit more complicated from here but donāt be shy to just ask away if thereās anything thatās confusing for you.
When would it be a good time to open a demo account?
I would have to pick a broker, get really familiarized with the process of everything, (really no experience or knowledge at this current juncture with trading, morely still learning terms and what trading is) and well, actually being demoing.
Since Iām taking the School of Pipsology course; Is there a point during the course that would be optimal to start demoing?
The choice is yours, but I think itās a good idea to start messing around with charts and practicing the things youāre learning. Thereās no risk because itās just demo.
Hit buttons, draw lines, apply indicators, open and close positions. Trade 0.01 lots or bet the farm. See how it goes! Itās the real market, but fake money. Have fun!
Wow canāt thank you enough. Choosing the correct broker seems to be one of the most important decisions in this journey, that is evident. Iāll definitely dive in and start researching!
The search function is your friend. Thereās tons of questions already answered. Also, consider starting a journal thread. You can post trade ideas, share your strategy and get feedback.
I personally think opening a demo account whilst your doing the course will distract you from your learning. When I was going through the School of Pipsology I had a demo account open, after each lesson I thought, great, I can go try all these new skills Iāve just learnt on my demo account. The result was pretty much always losing trades. Thatās because the learning doesnāt stop until the very last lesson, and without all the lessons you havenāt learnt enough! So for me, the demo account was a huge distraction and if anything it was detrimental to my learning.
I got a demo account early. I just got antsy not being able to trade. I wanted to get that first trade out even without necessarly knowing everything I needed to.
Did you do the āDo Not Lose Money Declaration?ā
I remember actually putting my hand on my heart and saying: āI will demo trade until I develop a solid, profitable system before I trade with real money.ā Then I touched my head with my index finger and said: āIām a smart and patient forex trader.ā
Iām going through the Undergraduate Junior lessons now, and I like this topic you made. I was thinking of doing something similar, but I just kept it to myself in my notebook. Thanks for posting your progress. Iām looking forward to your updates.
And thank you, this topic not only allows me to take accountability but constantly get feedback on where I am and get help when needed through the course.
Iām in the camp of start demoing pretty much straight away. Or at least open a demo account, even if you donāt intend to enter any trades. I found being able to try out the various indicators being taught in a real life environment helped me figure out which ones I liked using and which I didnāt. It also helped cement some of the teachings being able to watch live price action and how it affected/was affected by various factors.
I love this! Haha. 
I think youāre doing a great job and I hope you keep the passion going as you continue on with the school. 
It can get a bit more complicated from here but donāt be shy to just ask away if thereās anything thatās confusing for you. 
