And you my friend!
All righty folks,
118 lessons deep into the School of Pipsology. Man, it is truly beginning to feel like I am cementing trading and the progression to become a profitable trader into my bones.
Most of the lessons have contained quite the number of charts and indicators. It certainly is nice to continue understanding more and more posts that reference indicators and numbers that made no sense earlier.
It still is quite confusing most of the time to entirely understand what is happening when looking at charts especially when they get busy. But I realize as time goes on, I’ll become more fluent with the world of Forex.
I’ve also opened a demo account with Forex.com and use it through TradingView. I opened this account not to entirely trade at this juncture, but mainly to learn and become familiar with the process of placing an order and the general idea of trading on a platform itself.
I may not stick with the broker or the platform in the end but again, that’s not the purpose I’m chasing after at the moment. But, if anyone has any other recommendations for a better experience when I eventually begin to demo I’d love to hear them!
Approaching nearly a month of this adventure and I am super excited to continue. The vast unknown of this lifestyle and skill continue to interest me more and more as I learn. Looking forward to more!
Cheers to success my friends!
PS: I seem also to have trouble understanding the IKH (Ichimoku Kinko Hyo Indicator) and I find myself interested in it. Does anyone have some Indepth experience with this indicator?
Congrats on the progress and opening a demo account!
This is the best reason to be opening an account while still learning. Last thing you want to do is jump in all raring to go with built up knowledge, and then stumble on the mechanics of how a platform works.
I’ve been trying to play with it on the charts a bit, and Pipsology mentions it’s most effective with JPY pairs, but I’ve not quite been able to find time to sit down and look at it in isolation.
Important point to remember, is that it can’t be used without a trend. If there is no trend, it won’t be very useful.
Also I’ve not really placed any trades with it yet, so the example below is in retrospect.
My understanding of it is this. Using the USD/JPY 1H chart below, At the big green candle (right most red arrow) the price went up nearly 50 pips. As a result the green line (Chikou Sen, School of Pipsology actually incorrectly calls it a Span), which is 26 bars behind, crossed the price going from down to up, at the left most arrow, a buy signal.
Also the price movement broke through the bottom of the red area (Senkou Span), which can serve as a resistance point, and then proceeded to break through the top of the red area a couple bars later.
On top of that, price is above the blue line (Kijun Sen), suggesting that the price will move upwards, and the pink line (Tenkan sen) is sloping up, implying an uptrend.
All of these together would be a strong buy signal I believe. And even if you waited for the bar after it closed above the top of the red area (2 bars after it broke through the bottom) to place your buy order, the price still went up over 150 pips before it started to reverse.
This is just one example I cherry picked quickly looking back at the charts, so take it with a grain of salt, but hopefully it explains one possible way to use the Ichimoku Kinkou Hyou.
Keep it up man! You’re doing good.
You’re really keeping me on my toes, since I started before you and here you are, gradually approaching half of the entire lessons.
Keep going, I’m right behind you.🏃🏽♂️
Cheers to success🥂
Wow! You’re gonna catch up to me pretty soon. I like what you say about how the lessons are getting into your bones. That’s what I aim to do with my studying. I’m trying to make trading and thinking like a trader second nature.
Are you working to get 100% on every quiz?
That confusion is all part of the process. I’m still in a stage of confusion, and feel like a baby in forex who can only say goo goo ga ga.
It really is a lot like learning a language. It takes time until we can read, write, and speak it fluently. You’re well on your way to being as fluent with trading as you are with English.
Thanks for posting your progress. It helps me to review what I already learned and inspires me to keep learning and getting better as a trader.
Cheers to our success!
I actually can’t thank you enough. My biggest issue with IKH was the green Chikou Sen Line which never really made sense to me.
But you actually put it in a way that made sense with the chart included.
With it lagging so far behind I didn’t understand how to interpret it, but from what I can tell if it breaks through the previous price it’s suggesting an uptrend.
Let me know if I understand that correctly!
I ain’t ever gonna quit!
I’m trying not to move to fast through the course, but man am I hungry to learn.
Though I definitely plan on going through it a second, if not a third time to really solidify every lesson and ingrain what the School of Pipsology has to offer into my bones.
Cheers mate! See you at the top!
Oh man, I study over and over again to try and hit those 100%
Usually, the most I’ll end up getting wrong is one question.
And you’re right, the confusion really is part of the process. Keeps me hungry to keep learning because I can’t stand not knowing and understanding what everything means and how it all works.
Your progress also drives me as well. Can’t fall behind in this world and let opportunities pass me by.
Nice to hear that! Keep going on with all best wishes.
I was able to get 100% on all the quizzes in Preschool, Kindergarten, and Elementary. Once I hit middle school, it all went downhill from there.
I can totally relate!
Sometimes it takes me a couple of tries to hit that 100%. The important thing is that we keep learning and improving. Keep up the good work!
Never an option, it’s either success or success.
Oh boy oh man.
This is getting more real and more concrete as the progression continues…
On my way to just starting the high-school section in the School of Pipsology. I must say chart patterns I find quite curious. They make complete sense, I suppose I just never realized you could trade off more than just indicators alone.
I’m finding myself just staring at charts. Sometimes for minutes, other times for quite literally hours. Every day I revisit my chart staring and I realize I begin to notice more, maybe even at times falsely noticing things, but the fact is I find myself actually feeling more confident while looking at a chart.
Man, I still have such a long way to go. But I’m approaching only a single month of being here and starting this journey from absolutely zero experience or knowledge of anything. I can only imagine what I’ll understand by next month, the month after that, even six to twelve months down the line!
Though I must exercise caution as I continue. My appetite for knowledge and experience only grows. Although this is not an issue at the moment I must not overwork or burn myself out while learning. And conversely not let myself become overconfident and rush into demoing without all the proper tools, mindset, and planning.
I really do believe I’m here to stay.
See you all at the top! Cheers!
I don’t mean to be an a-hole, but I think there’s too much cheer-leading going on. Yeah, you guys can hate me, but what’s with the pats all around? This is literally in the learning phase. All these coddling isn’t going to help OP or anyone once the LIVE markets hit.
I’d hate to be the one to stomp out his flame, discourage him, and he never even finishes Pipsology. If he’s got energy and drive, let him determine for himself how long he can persist.
He’ll figure it all out. The market doesn’t favor or discriminate.
Onward and upward.
Don’t get me wrong, I’m not asking anyone to get a bucket of ice-cold water, but I’m just stating some facts.
When a trader is LIVE, before he enters a trade, you can see people “supporting” him and people going “green pips soon” or “good luck bro” but once the trade is in drawdown, you can hear a pin drop in the room. Excessive encouragement will only soften OP.
As it will anyone. I understand your perspective, though–the race has barely begun.
But I see no need to pee on his cake.
He’ll decide on his own what thread he’s cut from, once he starts trading.
OP has such enthusiasm that if you try to be blunt, you’ll only be met with more enthusiasm. The only way to make him understand is to encourage him to keep studying, and start trading.
Once he starts trading, and all the excitement is gone, we shall see of what stuff he’s made. And he’ll learn about himself as well.
Hopefully, he persists.
Yup. You have to tell people the truth.
You’re in something like a honeymoon phase right now. Get ready for when the excitement and enthusiasm fades. It will turn into a slog.
I’m not sure when the honeymoon will be over for you, but if an old dirty bastard like me can get through it, I know you’ll definitely get through it.
You are not an a-hole
I think there’s a mild misunderstanding.
What I’m doing and the support I’m given I take not as coddling, but simply who’s willing to not only teach, but join the journey. Life isn’t a solo game. This journey to become a profitable trader, is not a solo game. Those who treat it like so, even if successful won’t reach the mountain tops I refer too.
Look, I could sit here and tell you that every time I say, “see you at the top.” I say because I truly believe the words. I could sit here and type till my face is blue, and my fingers are sore. Truth is you’re right. I’m still in the learning phase and once live markets hit with real money, you will see what I’m made of.
Until then all I have is words.
So, I will keep telling myself, and others the success I believe I will reach until I can back-up those words with profit like a self-fulfilling prophecy.
You don’t believe me, then stick around. Watch me.
See you at the top.