I’m 38 now. when I was your age I thought wow I’d seen so many things and it was time to do something. Believe me, you have a lot of time ahead of you to make your life. If I can give you one piece of advice, it would be, just stick to one thing for your life and don’t change it and try to master at that. No matter what that is.
If you want to be a trader, that’s good but it’s a long term goal. Keep learning at least for two years and try to find just a strategy.
Then stick to that and try to develop and personalize that. Find the advantages and disadvantages of that and learn money management to the full.
Do not waver from one strategy to another and master at one. Believe me, the only thing that I regret is changing jobs in general and strategies in particular. If one thing I would have changed If I could go back was, I’d have stuck to one thing and try to develop that.
There’s no Holly Grails, so don’t look for that. The only thing that can make you profitable is your persistence, not changing strategies, and of course a good understanding of money management.
There are lots of things in money management you can learn but if I want to simplify that in a few words, don’t risk more than 5% of your account for each trade.
That way, you have enough chance to come back if you lose some trades.
The last thing, it’s not an easy road to drive on, so you have to be tough more than usual if you want to be successful otherwise just move on and find another career.
@TheTradingGuru
Hello and welcome.
Rule 1. Not need to buy any expert advisor or technical indicator.
Rule 2. Not need to pay for books, courses or lessons.
Rule 3. Not need to spend your time with any indicator or expert advisor.
Rule 4. Not need to copy any signal.
Rule 5. Try to learn about the trend lines, level support and resistance and Fibonacci.
Rule 6. Need to try on a demo account first for a long time to test your strategy and money/risk management.
Rule 7. If you have at least 3 continues months with profit and over 100 trades, you are on the right way.
Welcome to Babypips! Take your time going through the School of Pipsology. If you have any questions, don’t be afraid to ask help here in the forums. Good luck!
@TheTradingGuru looking at my personal experience. When I started studying at the school of pipsology, I was fully determined to practically learn everything babypips taught in the course. After i read about Fibonacci, Elliott wave and so on, I took it upon me to open my MT4 and play around with it, to me it was fun more like another world of mathematics and calculation. I loved the numbers, I loved the names, I loved everything. I demo traded throughout my days of learning at babypips school just to have a real feeling of what I was learning. I admired the charts, candlestick…all my thoughts, processes and energy was focused on my studies at the school of Pipsology, I didn’t look elsewhere not even in this forum, it was after I graduated I became active here. I took mine one step at a time so I would still advice you to do same. Other steps will come to you naturally just as the idea to study at babypips school came to you. All the best mate
the best advice I can give is to stay on the charts as much as you can starting out, because you need to understand price action. Also, learn about risk management, never risk more than what you can afford to lose on any trade you take
Take it from somebody who just won a t-shirt for being a member here, haha, stick with the School and the Forums. Use the search feature here. Ask questions. You’ll have many.
Go get a demo account from a regulated broker in your country, where ever that is. Once you have your demo account, add a realistic amount of fake money. Something realistic to you. And then figure out how to make a trade. Seriously. You can even do that before finishing the School. Just place a trade or two. Get that off your plate already. Go long, go short, whatever. Add a stop loss and add a profit target. Figure out the mechanics of your trading platform, whether MT4 or your broker’s web platform. Make those trades, lose some money doing it (probably!), and then come back to learning. You’ll now have checked off “Make a trade” from your to-do list, and you’ll be able to check off either “Lose a trade” and maybe even “Win a trade”, too. Then get back to learning. How you do that depends on you. Some people like to read the whole School, others will read just enough to get started, and then trade and learn/read along the way. The School is long. Take your time. Don’t quit your day job. Don’t quit on school. You won’t make millions in a week, month or even years. Save your money. Find a system, any system, and trade it on demo. Regardless of the system’s success, you’ll get time on the trading charts and you’ll start building that experience. Simple! (Understatement of the century!)
I see you’re doing the babypips course which is a great first step.
I have been exploring the forums and have come across some great threads which i think will be helpful for beginners. Its from a few years ago, it’s an engrossing read but gets a bit off topic towards the end however still there are some great points which I believe will be helpful in starting.
