Hello, I’m from Los Angeles, California I am a mom of soon to be 3 under 9 years old. I need to learn to “do” Forex. I trust Reddit users to point me in the correct direction to learn so here I am. I am tired of living check to check and never being able to start an “emergency” fund. Looking to change the narrative. Work smarter not harder, right? @Babypips Teach me… I am your sponge.
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Ok first of all most likely you will not be successfull. You probably will lose money for a long time and eventually give up. How do I know this because I have been trading 8 years and I have seen and been every type of trader.
Having said that I admire the fact that you have kids and you want to do what is best for them so I am going to give you some advice.
Strategy
You need to find ONE set up that works more than 50% of the time. Never trust what anyone says, always test a strategy out for yourself with REAL TIME data using a DEMO account.
Psychology
Read books on trading psychology, watch youtube videos on trading psychology and most importantley commit to placing 20 trades with your chosen strategy before accepting or rejecting the strategy. 90% of traders MISS this pivital moment in their development. They find a strategy, test it out, they run into a few losses in a row, change strategy and start all over again.
If you read and listen to enough trading psychology stuff you will hear it mentioned that between 7-13 trades a neural pathway is built in the brain and the act of pushing through the losses getting to the 20 trades basically in simple terms changes your mindset from wanting to PREDICT every trade to ACCEPTING the process of PROBABILITIES. You will only know this by experiencing it but it is beautiful.
Money Management + Statistics
Risk no more than 1% of your account on any one trade, ideally 0.5%. Your reward for the trade should be at least double what you risk. Only trade a DEMO account! When you have 3 months in a row earning more than 3-5% THEN and only THEN should you think about putting real money in.
Conclusion
It is literally impossible for me to explain every lesson I have learned over the years, you learn by doing, so go do. The strategy/set up is not important, there are millions of setups that offer you more than a 50% win rate yet traders will often times become fixated on finding the “holy grail” set up and missing the fact that psychology and money management are the only key to consistencey.
And keep in mind that the moment you put real money into an account YOU ARE MY COMPETITION. The person who is the most educated, consistent, persistant, aware, passionate and couragious will take the money from the other trader. Remember money does not come from thin air, you take it from another person. When you feel joy another feels sadness, when you feel sadness another feels joy.
TradeNinja
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Hello welcome to the community. Babypips has a good educational resources for learning. Go to here Learn Forex Trading at School of Pipsology - BabyPips.com and start your learning journey today. It takes time so have patience.
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Ignore this person and thought pattern like your life depends on it. They know nothing about you or what you are capable of. They are merely projecting their own experience onto what they “think” you’ll be able to do or not do. Stick with it and over time you can make money. Think of the initial capital you deploy as “educational tuition” - because there is a high likelihood you’ll lose most of it merely because you have no clue what you’re doing…yet.
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And you can - look to your strengths, what it is that you already have - how many moms out there could learn from your experience - you can give value at little cost - use social media - make your dream a reality.
It will take some work and time but it will be worth it - FX is a numbers game, ask google how many retail traders lose their money - it’s a market of likelihood, of probability so the question that a person must ask is ‘what is the probability that i will lose my hard earned money.’
Maybe it’s not the need to learn fx instead maybe to figure how to best harness the ambition that clearly is within.
I wish you good fortune ahead 
Edit: by chance after I posted I scrolled down BP and noticed the ad.
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90% fail, welcome to reality. And that “educational tuition” you mentioned is taking money away from her family/kids, that is no joke.
So then what is your purpose here? To sh!t on people you don’t even know from some ivory tower? Everyone has equal odds coming into this game and you have no authority to disenfranchise anyone- no matter the statistics. Your approach is toxic and off-putting.
Check my posts I am not toxic. Also I will not be replying to you anymore, not my thing to argue with people online.
Confirmed- take care and be well.
What a load of bolony this is. I concur with Jake on this one. Stay well away of this joker. All he wants is you to redirect to his website and buy his wares.The FOREX “education” market is full of charatons and snake oil salesmen. As a noob you won’t be able to recognize them. We can and this fella talks like a duck, looks like a duck, quacks like a duck. 3 ducks lol.
The only person you “Compete” against is yourself. The only person/organization that you interact with is your broker. When you lose, his bottom line gets bigger. Start winning but and you will get noticed and better things will come your way.
It is not worth killing brain cells with his advice.
No you don’t. Working a second job will pay more than the time you will need to invest in this game.
You place your trust in Reddit lol
What all these good people will fail to tell you (except Jake, I suggest you go back and read all his posts over the years) is that until you have your own financial situation under control, forex is not the place to be investing you hard earnt, cold, folding cash.