It’s not in my gene’s to quit
Thanks for the support my friend.
It’s not in my gene’s to quit
Thanks for the support my friend.
You will come to realize soon that trading is a largely solo game.
I believe there’s always room for collaboration, hence one of the essence of baby pips’ forum, and many other communities out there for traders.
it’s only a solo game if you decide to go solo.
In theory, yes.
However, most of the people on forums (any, not just BP) are pure leeches or have no idea what they are doing anyway.
There is more noise than anything else.
Why are you here then if you know that’s the case? You joined Nov 7 and you already graduated the School of Pipsology.
Of course. You’re a journeyman who endures the slog of back-breaking manual labor. The slog of trading is really nothing compared to that.
I always hated high school. For once dare I say I might actually be enjoying it
Getting further into the School of Pipsology has brought me some serious insight I never expected to gain.
Finally reaching a point where I was able to delve into the aspects of fundamental analysis has connected so many dots across my little brain board. I found myself often wondering every time I saw an economic calendar or a trader talking about news moving the market. It stuns me to finally have a grasp on the movement and impact a country’s operation, leadership, currency situations, and opinions have on the markets. Definitely interested in keeping up on my education of fundamental analysis as it carries a moment when (especially when the news is important pertaining to inflation, interest rates, and employment rates etc.) the market is almost certain to move. I feel as if understanding this way of trading and combining it with technical analysis may prove to be a great advantage.
I have also invested some money into books. Some of these include, “Trading Price Action Trend” by Al Brooks, “Come into My Trading Room” by Dr. Alexander Elder and “The Daily Trading Coach” by Brett N. Steenbarger.
I plan to invest some more money into plenty of other good reads. It seems there are quite the amount of opinions on trading and I’d like to absorb as many as I can and formulate my own opinion and strategy.
Lastly, I’ve been building a legitimate office for myself. Environment is everything. If you build an environment of learning, then you shall increase your learning in such a place. Trying to learn and build discipline on your coach or bed is no way to do such a thing at all. I find myself trying not to buy an assortment of random things, but instead invest in a room that will return its value to myself.
Cheers to success my friends!
Great steps you’re taking. Keep up the spirit.
See you at the top.
I hated high school, too. That’s why I didn’t care that I flunked my senior year.
I’m still blown away by everything I’ve learned from the School of Pipsology. I never cared about finance and the global economy until I went through the course. There’s still so much to learn.
I’m glad to see that you’re investing in books and an office. You don’t mess around!
How is the demo account going?
If I truly want to make it in this crazy trading world, I need to treat it like a business. Eventually it will become a job for me so I might as well find out what works for me in terms of set-up and comfortability.
The demo accounts wonderful. I’m using MT5.
Although I’m still not confident in my ability to actually execute a trade. I’ve been mainly acclimating myself to the platform and policies of my broker. I’m hoping within a month or two I’ll be able to actually begin demo trading. I still have a ways to go, but it’s all part of the process!
And you, my friend. See you at the top.
Trading is a business. You might want to look into incorporating soon so you can get some tax write offs for what you’re investing for your home office, books, and whatever else you spend on your business. It might also become your company if you go into business as an electrician.
You can start here to learn more:
Trading as a Corporation: The Ultimate Guide to Pay Less Taxes and Protect Your Assets - YouTube
I haven’t incorporated yet, but it’s not something I need to do right now. Thanks for sharing your experience and progress with your demo account. Building the business is the fun part. Enjoy the process. Running it is when it will become a boring chore.
Have a Happy Thanksgiving!
Howdy folks, hope ya’ll had a fantastic Thanksgiving! Alas it is time to return to the grind if you have not already
Moving into Undergraduate Sophomore. I have recently learned topics of multiple time frame analysis which always seemed like an obvious, but I enjoyed some of the ideas in the lesson. I explored trading scenarios using fundamental analysis; learning which news releases seem to have the biggest bang. Then finished my studies learning about one of the sexiest trades, the carry trade.
Learning more about the fundamentals which move the markets is definitely a welcomed knowledge and I will most assuredly be incorporating it with my demoing when I begin.
And what can I say, the carry trade. The concept alone tied so many questions I had together. I remember learning about closing times for marketplaces even though the Forex market is 24-5, interest rates between currencies, and why some long-term traders seemed perfectly fine with a trade they were in not doing so hot (because they were still making money). Like I said, questions answered. Still blows my mind Babypips is handing this information out for free
Now that aside I could use some serious input. I love my learning of Forex and I’m most certainly going to be trading within the market. But. Way back in Preschool here on Babypips School of Pipsology I remembered other markets as well that I knew nothing about. In a recent lesson they talked a bit more about it. The Futures market.
After some research and dare I say some obsessive time spent I’m honestly stunned. Having that centralized exchange compared to Forex just feels right if that makes sense. Through the time I spent learning of it, not much seems to differ from Forex itself when it comes down to the actual trading. And being honest, were it does differ comes with more information and a plethora of rules and regulations.
To some this could be off-putting I suppose but I am a man of structure, and I do enjoy me some overseers
Well, all in all, I truly am curious of the opinions of other forum members and those who have dabbled. What are the pros and cons? Is the structure truly to a trader’s advantage? Can a trader competently trade both Forex and Futures?
Thanks for the support! Cheers to success
Wow, you’ve really gone far in this school. That’s great.
As long as you learned trading well, I believe you can use the knowledge anywhere, be it spot trading, futures trading, binary trading, and so on.
I believe they’re all the same, it’s just the platforms and what’s being traded that differs.
So yes, you should be able to do that, if you can. Although some people prefer to focus on just one.
A competent trader can trade in every market like forex, futures, etfs, and options, or whether it’s centralized or decentralized.
It’s useful to not get oneitis for any market like you don’t want to get oneitis for just one currency pair so you always have the option to trade somewhere else if one market is not doing well.
What we’re learning here in babypips will provide a good foundation for us to trade other markets after we gain more experience and can adjust to different markets.
Glad to hear that you’re learning a lot in the School while still appreciating how valuable the opportunity to learn it all really is. It’s just the tip of the iceberg.
I’m blown away by the different ways to profit in just the forex market alone. I plan to get good at doing carry trades. I see myself doing multiple kinds of trades in multiple markets.
Thanks for the input dudes!
This seems to be the assessment of many. It appears that just simply learning the fundamentals of trading in any market carries over to the rest in most ways.
This leaves me with the opinion to build my foundation through Forex. I would definitely love to explore Futures once I’ve got a seriously solid foundation of trading and a little more capital.