Newbies should stop looking for a get rich quick strategy. it doesnt exist.
They should learn first that it wil take time to become succesful. If the effort is put into it then the rewards can be great.
good luck newbies
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Hi @Penelopip,
Newbie traders seem to fall into 2 categories:
Those who listen to everyone they can and end up confused with no real direction, they develope fear from the negative experienced traders and become indecisive when it comes to entering trades and taking risk.
Those who think they can become millionaires in a week or so and go in all guns blazing, and blow up their small account.
So, my answer?
Newbies need to stop seeking verification for their actions, stop taking so much time to listen to others. Listening and learning is fantastic but it depends who your listening to! You wouldnât take work out advise from an overweight PT.
They should work out where they want to be and take the appropriate risks to achieve that goal. Risk 1%, 2%? There is no real answer but a quick look at real successful people, doesnât have to be traders, shows that nobody got there by being conservative.
But hey, am I the right person to listen to? 
Stop seeking to copy those who say itâs hard! Find a way to make it as easy as possible and yes, you may well fail a couple of times, maybe a lot of times, along the way but you WILL eventually learn the best way for YOU!
More than the required answer, I hope you donât mind @Penelopip 
Anyway, I wish everyone the best of success and hope you can see where my words come from.
Be great, be a beast, donât hold back, go get whatâs yours!
Brentrader18
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Hello Simon, John here from Ireland, I really appreciate your sound advice and the methods you have described back the years you use which make a lot of sense to me. I have been lurking for years and also demoing for years but I have been focusing on your posts back the years and there is a lot to be learned from them both directly and indirectly. You are a very trustworthy and consistent contributor so again huge thanks.
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HI to all. I am a newbie too so I will tell what I am doing right now.
1-First of all read a lot. Start from the academy here. I am proud to have finished all the lections there.
2- You already have one good idea how to trade. Find a perfect trade that you would had taken if already you were trading. Find a system that find setups like your perfect trade.
3- Open an micro account. Some like back-testing but i like forward testing with real $$$. I canât afford to lose a lot so I have opened an account with 20$ and my balance says 2000 US cents 
4- It is very important to read and implement a lot of psychology. Trading is a business. You will not be all times right.
IMPORTANT Stick with your choosen system for at least 3 months. After testing it for 3 months begin to change it or find another one.
Make sure to cut the losses and let the profit grow. It is the most difficult part to adapt. There is a lot of work to do with yourself and your mind to upgrade it.
I am at this part now. When i get further I will be happy to extend this post 
Green pips to all
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Just stop revenge trading
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Ah well!, looks like this is where we should all come to after graduating the Babypips School of Pipsology. Iâll Just share some of the things Iâve learned along my own Journey.
1. Accept that youâre worse than 70% of the real trading community:
Youâre new, which means by extension, until you start making consistent profits, youâre part of the statistics, you belong to the 70%+ thatâs losing money on a consistent basis.
2. Never avoid recording your trades, itâs the Lab you need to analyse your trading performance
3. If youâre good on Paper/Demo, youâre still worse than 70% of the real trading community:
You may not have gone life yet, in which case youâre worse than 100% of the real trading community because experience is even more valuable than your balance sheet (itâs an insurance against future losses that getâs better as you grow). This could be either good or bad, but make it good by letting this fact humble you and prevent you from thinking youâre good just because you nailed a few (or many) good trades on the demo.
4. Your first job is not learning how to make money trading Forex, itâs learning how to protect your capital:
Making money is the end goal yes, but in a field where most lose, you should focus on how to be better than the losing 70% first, then the rest will follow.
5. Your second job isnât learning how to make money trading Forex, itâs finding a provable edge over the market:
An edge in that it letâs you win enough times to be profitable, and provable in that you can repeat the process back in time and into the future.
6. Your third job isnât learning how to make make money trading Forex, itâs building a trading strategy around your edge.
Your strategy is required to work effectively by taking the best advantage of your edge, and ensuring you, The Traderâs profitability over the long term. This requires a number of things in sync:
(i) Optimal Leverage
(ii) Optimal Win Rate
(iii) Optimal Risk vs Reward
(iv) Positive Expectancy (a guarantee that youâll be profitable in the long run according to your trading style)
7. Your fourth job isnât making real money trading the Forex Market, itâs making paper money with your trading strategy for a ârepresentativeâ length of time:
Representative in the sense that you have practiced it long enough to confirm that it works. (a guarantee that youâll be profitable in the long run according to your trading style)
(i) Find a good broker (that has good enough Spreads, Commissions and Swaps to give your strategy the best chance of survival)
(ii) Trade demo with your strategy and this broker for as long as the strategy requires. There are strategies that require up to a year of implementation to guarantee profitability, there are some that require only a few months, practice your demo wisely.
8. Your fifth job isnât putting down your full trading capital on your live trading account:
Itâs putting down a âRisk Capitalâ, a small percentage of your actual trading balance to see how your strategy performs, Demo versus Live.
9. Only if youâve passed steps 3 - 9, go live with your full trading capital and trade like a Pro.
Note that you should always have a âshut offâ loss percentage of your account where you stop trading if things get bad.
9. If you lose more than your strategy dictates per any length of time, Stop trading and go back through steps 3 - 8 again.
10. Enjoy the fruits of your Labor 
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Be patient. Study and invest time and effort.
I know I already replied, but I will reply again.
Study, study, study and study a lot. You should not be watching a tv show after work if you are not still where you want to be, there is always something new that you can add to your tool box.
Update yourself with new information, and try to follow good practices.
Trust in you, even on the hard times, that I can guarantee will come.
and last but not least, love the game, if you love the game, you can stay here longer than the average person and if you stay consistent practicing and studying, eventually you will succeed.
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Oh my⌠it seems so far Iâve lost pips at every stupid trap out there!
setting arbitrary stops then moving them (in the wrong direction of course)
NOT setting stops
Hopping on spurious trades because⌠reasons
Betting 10% of my capital on that infallible Ichimoku signal (although I had just started with the indicator)
Placing parallel trades on two positively correlated pairs
And⌠sizing my position proportionately to my feeling towards a certain setup.
âŚthe list could go on but I think thatâs enough self shaming for today!
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Stop trading without a journal
There are a hundred things a trader shouldnât do. Itâs tough to pick any specific one as they are all harmful to trading. But one thing a new trader definitely shouldnât do is trade without a journal. Why? Because the journal will show you those hundreds of bad things you are doing so that you can stop them. Over trading, emotional trading, bad entries, bad exits, constantly changing your trading rules, over leveraging, etc. etc. can all be caught and fixed using a detailed trade journal. A good journal will show your weaknesses and strengths, giving you the opportunity to improve your trading on a continual basis. It is not just enough to journal. You then have to study the journal and make a conscious effort to improve your trading through it.
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Have the discipline to stop trading for a little while. Come back to it after you donât miss it anymore. You would be surprised.
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Whew! Sorry for the delay! Picking winners took us quite some time.
Thanks to everyone who participated! This thread is definitely going to be a must-read for all newbies determined to succeed in forex.
Again, for those wondering, this was an EXCLUSIVE GIVEAWAY for BabyPipsâs TL2 and TL3 members. Two winners were chosen, one, a member with the most-liked post on this thread, and two, a winner picked by the BabyPips team.
NOW ON TO THE WINNERS.
Garnering 44 likes, our most liked post is from @giannigeez! 
As for the teamâs pick, you all gave such amazing answers, and we had a tough time picking our favorite! But after hours upon hours of deliberationâŚ
We chose @MikeWolski!
Congrats @giannigeez and @MikeWolski!
So, thatâs it for this giveawayâŚ
NOT!
We received soooooo many great replies, that we had to pick two more winners.
Yep, You got that right.
Two More Winners
They will receive limited edition BabyPips.com shirts, and goodie bags from us! Our lucky winners are⌠@johnnykanoo and @macilme!
So that just happened!
Congrats again @giannigeez, @MikeWolski, @johnnykanoo, and @macilme!
Iâll be in touch with you shortly to discuss how you can receive your prizes.
We owe the success of this giveaway to everyone who shared their experiences and knowledge! You make BabyPips a great community, and we thank you for your contributions and for spending your time with us.
Donât worry if you werenât so lucky with this giveaway! We have more in the works, so watch out for those!
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Congrats to all the winners @giannigeez @johnnykanoo @MikeWolski @macilme!
And a nice and warm welcome back to @johnnykanoo! Good to see you here again!!!
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Thank you!
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this gif is hilarious
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Thank you!
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What happened to the post by Manxx?
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Yass!!! that helps
Thank you!!
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