School of Pipsology

[ria_rose]

Hi everyone!

I would just like to ask you guys how long it took you to finish the School of Pipsology. I’ve been going through it for over a week now and I’m still in high school.

I’m usually a fast learner but forex is just a whole new beast.

[ria_rose]

Sir @anon81929759, I think I’m starting to understand how forex just sucks the happiness out of people. And to think I’m not even a trader yet! Huhu.

But I’m still not giving up!

[anon98339083]

It isn’t really forex in itself that sucks the happiness out of people.

It’s a combination of losing some money and getting frustrated as they gradually learn that their income expectations from trading were completely unreasonable.

That usually happens for a mixture of reasons:-

1. They’re undercapitalized
2. They rely on misinformation rather than information
3. They attribute magic powers to indicators rather than learning price action
4. They’re deluded about what a “broker” is and how the whole system works
5. They’re in a hurry
6. They don’t understand statistics and therefore don’t know whether they really have an edge, and trade just on hope rather than on evidence
7. They don’t practice enough on demo before funding an account

[anon81929759]

I think I’m starting to understand how forex just sucks the happiness out of people.

LOL
yes indeed, it is a cold Heartless, Live sucking B…iath from which there is no escape hehe
well, at first at least, until you put it in it’s place.

And to think I’m not even a trader yet!

that’s right.
Mate, ALL JOKES ASIDE THOUGH, and in all honesty, i don’t many people that trade successfully and profitably,
I know a lot that lie about it because they are embarrassed to admit the truth (and i understand it, I’ve been there a few years back, when you don’t want to admit that you took a loss)

Forex can get people down in a big way, IF YOU LET IT

Now, what kept me going when i was losing was this…

I’m a logical person, it’s my job, i’m an Engineer, it’s also a curse hehe
so, i kept testing everything and i could see that IT COULD WORK, it was just that i had not worked it out yet.
its sort of like back in the day when spreadsheets used to phase me a little , and you’d be doing a formula and for some reason it wouldn’t work

it’s just a question of time before you get to the answer.
i treated forex the same way
and… i eventually got there

so…

But I’m still not giving up!

Not giving up is one thing, and it’s admirable
but, IT’S NOT ENOUGH sadly

you have to know what to do AND … NOT GIVE UP
you have to be on some logical train of thought and keep following it and tweaking it, because if you are not
you will just be going in circles from STRATEGY to STRATEGY to STRATEGY then another STRATEGY when overall , none of them work and they all end up losing you money

FEEL WHAT IS HAPPENING RIGHT NOW
You are feeling RESISTANCE right ?
HESITATION right ?

that’s what the market wants you to feel, that’s why you are feeling it.
you have to rise above it

but, IT TAKES A CERTAIN TYPE OF PERSON TO DO THAT.
AND MOST PEOPLE CAN’T DO IT
that’s why MOST PEOPLE LOSE

and that’s how the mathematics of why they make money works, because the majority of people are weak willed
and the strong willed ones will ALWAYS BE THE MINORITY and for this reason… Their business model always works.

FINALLY
i agree with EVERYTHING that @LaughingCharlie has said
but i’d like to add one more point to this one

They don’t practice enough on demo before funding an account

They don’t take it seriously on demo

i think Charlie said on another post (or it might have been someone else, i’m not sure)
but what was said was

DEMO IS A VERY USEFUL RESOURCE THAT COMMONLY GETS WASTED
and some newbies were debating that you can’t control your emotions and you can’t treat demo like Live
well. that’s BULLSHYTE because i did it
and i’ve taught my past students to do it and they also did it

it just simply comes down to (as i would put it) can you BS yourself enough to make yourself think that your demo account is real

if you can, that’s a good thing hehe

[ria_rose]

Thank you for this Sir @LaughingCharlie!

At least now, I more or less have a clearer understanding of the story behind “emotionless traders.” And reading more into it, there are a lot of things I have to look out for to make sure that, well, I stay as happy and positive as possible.

[anon98339083]

They don’t take it seriously on demo

i think Charlie said on another post (or it might have been someone else, i’m not sure)
but what was said was

DEMO IS A VERY USEFUL RESOURCE THAT COMMONLY GETS WASTED

Very good point, here. I’m sure what you say is right.

it just simply comes down to (as i would put it) can you BS yourself enough to make yourself think that your demo account is real

if you can, that’s a good thing hehe

Yes - I agree.

[ria_rose]

you have to know what to do AND … NOT GIVE UP
you have to be on some logical train of thought and keep following it and tweaking it, because if you are not
you will just be going in circles from STRATEGY to STRATEGY to STRATEGY then another STRATEGY when overall , none of them work and they all end up losing you money

I understand Sir! I plan to study and acquire as much information as I could before I go live. I know that crafting a strategy that works for me would be a very challenging task, but I’m hoping that once I understand forex better (the ins and the outs and everything in between), I’d have a fighting chance to survive in a seemingly heartless environment lol

They don’t take it seriously on demo

i think Charlie said on another post (or it might have been someone else, i’m not sure)
but what was said was

DEMO IS A VERY USEFUL RESOURCE THAT COMMONLY GETS WASTED

Thanks for this too! I’ve actually set up my demo account just recently and I’m still trying to familiarize myself with it. I’ve been reading through the forums and most of you guys have suggested that we stay on demo for AT LEAST 6 months (Now I’m thinking I should probably stay there longer). That’s what I also plan to do since I can’t really afford to go into without fully laying out a plan.

it just simply comes down to (as i would put it) can you BS yourself enough to make yourself think that your demo account is real

I will keep this in mind!

Thank you so much for these! I really really appreciate the guidance that you’ve given me.

[anon81929759]

No problem

also… Re this

I understand Sir!

Stop calling me SIR, You don’t need to call me SIR,
You can Call Me “Martin”

[ria_rose]

Alright, Martin!

[anon81929759]

Cool, That’s Much Better

[ria_rose]

Haha. I just hope I don’t annoy you because I’d probably have a lot of questions for the BP forums, especially now that I’ve been studying my demo account as well.

I’d like to say that it’s really nice of you guys to share a bit of your time with us newbies and share your knowledge! Thank you.

[anon81929759]

I just hope I don’t annoy you because I’d probably have a lot of questions for the BP forums,

hehe
Have you seen My Posts and how long they are ???
and you think… there is even a remote chance that you are going to annoy me LOL

NO MATE… ASK AWAY

I’d like to say that it’s really nice of you guys to share a bit of your time with us newbies and share your knowledge! Thank you

No Problem, You’re Welcome