Hi everyone,
I’ve just completed all 312 lessons of the School of Pipsology (which was great and taught me a lot!) and would like some guidance about where to go next on my forex trading journey. As a complete newbie I want to minimise information overload and start demo trading ASAP, so I’m thinking about picking one currency pair and one trading strategy to focus on first. I live in Australia and I work evenings so it would be easiest for me to trade the Asian session. I was thinking about solely trading AUD/JPY to begin with or perhaps AUD/USD. Does anyone have any thoughts on these currency pairs for a newbie trader?
Although I’m going to slowly go through the School of Pipsology one more time to really let the info sink in, I’d like to move on to my next educational material asap. Can anyone recommend some essential books to get stuck into to help me with my journey?
I also found that Chris Lori has a course about trading AUD/JPY, has anyone done it or has any thoughts on this?It’s $200. I’m very happy to invest money in my Forex education but I’m also trying to save trading capital so want to make sure its worthwhile! [Removed due to forum policy violation.]
The book Naked Forex by Alex Nekritin and Walter Peters also looked interesting, any opinions?
I should also add that my long term goal is to become a full time day trader, I don’t plan on trading live until I have $10,000 of capital which will take around 6 months to save, I plan on demo trading 5 days a week in the meantime in order to get into the habit of trading everyday as quickly as possible, and obviously I won’t be quitting my job until I’ve been consistently profitable for at least 6 months live trading!
Thanks in advance for any advice and insights 
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Congrats on finishing the course!
Which sections did you find the most useful for your learning process?
AUD/JPY seems like a good idea, you could try carry trading.
Get yourself a demo account asap, I don’t think you should purchase another course before you try things out for yourself!
There are some good threads with a lot of book recommendations, look around in the beginner questions section.
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Hi James,
Thank you, the course was great, I really did find all of it useful as when I went in I literally had no knowledge of forex at all. But what I really appreciated was the simple and fun explanations of things like indicators and economic factors that effect forex, it allowed me to wrap my head around it without having to read the info ten times over!
So I’ve got myself a demo account, I’m using MT4 with broker Admiral Markets for now (simply because I have a macbook and you could directly download MT4 with them). Would like to avoid spending money at this point, I guess I’m just still a bit unsure about spotting trade set ups with AUD/JPY. Am I correct in thinking that this pair is generally ranging during the Asian session?
Thanks for the recommendations about searching the threads for books, I will have a look at that and let you know how I get on.
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“Technical Analysis - John Murphy” is a good place to start and will amplify what you have learned in your express journey through the “school” !
If you’re in AUS, best to trade someting the Asian session is interested in methinks AUDJPY looks good - rather than EURUSD perhaps.
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You’re in great shape man, I’m sure it’s all because of School of Pipsology. Indeed interesting and fun courses there.
One thing I’d like to add here which I don’t want anyone to miss, although it seems off topic but necessary part for your life. Don’t forget to plan and spend some quality time with self without gadgets, family and friends. I said this because you took their hearts which is precious, but you have to receive from their hearts (by giving attention and care) as well to define the successful relationship or friendship. Managing priority for them as well.
Sometimes, Forex or broker may tempt you to buy more capitals in order to gain more. I don’t mean to stop it, but to keep the sufficient emergency fund separate from trading for your house and family.
Lastly, and most importantly, don’t give up trading in between (only when the reason is loss), and have a strong control over your mind during trading (greedy always attack your money).
I wish you all the best and I know one day you’ll be successful trader.
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