According to me; BabyPips School is the best training course! Although, it’s a free service! But too much useful to learn technical and fundamental analysis of Forex business!
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I find that, after finishing babpips school, the thing that benefited me most was scouring the internet for as many free/cheap FOREX trading strategies/set-ups as I could find and then asking myself:
- Do I understand this set up? Can I see where it could actually be a profitable strategy?
- What market conditions are necessary for this set up to be profitable?
- Under what market conditions would this plan absolutely NOT be profitable?
- What time frame does this plan return it’s profits in? Scalp? Intraday? Swing? Long term?
- Is this in sync with my personality and my ability to delay gratification/need for instant gratification?
- How much time does this plan require from me to monitor my trading?
- Is this in keeping with my lifestyle, and the amount of time/time of day that I can set aside for trading?
Do this with the various set-ups available for free here on babypips (3 Ducks, Cowabunga, The High Five, etc), and ones available for free/cheap on the internet (50 Pips a Day, London Open Breakout, The Simple Strategy, etc) and before you know it you will have built your OWN trading system tailored to your own skills, personality, and lifestyle.
Honest to God, I am convinced that, thanks to babypips, a person can become a profitable FOREX trader and the ONLY think he will have to spend money on is a copy of Mark Douglas’s book Trading in the Zone.
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Very good thoughts! Mark Douglas is one of my personal favourite, as well! I must say that the most important thing in your trading is the risk/money management! Do not be swayed aside by the strategy itself. It is great to have a good strategy, but a strategy does not make a trader profitable. What does is persistence, great money management skills and the ability to stay in a winning trade for as long as possible. Although, I have a trading strategy, what I am teaching my students is mostly risk/money management. These should be the starting and ending points of any successful trading strategy. Before submitting your next order ask yourself: what is the worst that can happen if I am following my trading plan. If it is losing more than 2% of your capital, you probably are doing something wrong. Try changing your bad habits more often than your trading strategy!
Stealth Vendor much.
The Ever Watchful VIPER
With the basic development of forex, many traders are joining this global market. But each forex trader will require sufficient trading understanding to ensure here profitable trading expedition. From my view, Babypips school is the best place to acquire knowledge.
Hey, I had some idea about Forex but wanted to upgrade my skills and decided to try out coding the trading strategies. I have done Quantra’s course on Forex. It was awesome as it not only explained the concepts but also included interative coding exercises to practice. I think you can try this out if you are interested in implementing your trading strategies through coding.
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