Learn Forex Trading With BabyPips.com

It's Not Just About Avoiding Porn And Posting Memes!

Hey Guys, just wanted to say a massive well done to everyone in this community whether you're on Day 0 or Day 365+. Being here and reading this post at this very moment means that you have taken a decision to improve your life. If nobody else has said this to you, I'm proud of you, well done.
One thing I've failed to see in the midst of all the posts about relapses, porn, urges, trannies, NoFap, monk mode, Gary Wilson and the list goes on, is actual self development. Which is exactly what NoFap and porn addiction recovery is. Maybe if you're here for casual use it doesn't apply to you but I'm yet to see a guy in this community who was looking for 'big booty Brazilian' and ended up in NoFap.
I wanted to make a post about resources for truly recovering from this severe issue we are all struggling with. Unfortunately, most of the resources are internet based and I know this is something a lot of people are trying to avoid, but, that doesn't mean you cant go to a library, workspace or coffee shop to enjoy them. Below this I will list some things you can use to develop yourself. It may be a bit long so feel free to skim through the headings to see if anything catches your eye.
Self Development & Self Actualization | Actualized.org :
Great Youtuber called Leo, owns a website called Actualized.org. Completely based around Self Development and becoming the highest version of yourself. I recommend starting with this video then exploring his page for others you may like. https://www.youtube.com/watch?v=JGw8IoqBt-c
Home Learning Courses (Free & Paid) | http://www.oxfordhomestudy.com :
Oxford Home Study College has began to develop a variety of short and long courses for people looking to develop their skills in a variety of areas, FROM HOME! Their courses range from Fashion Design to Business Studies to Nutrition To Internet Marketing. So you can study so much things there. If you want to go through some of the free courses to find out what you want to do if PMO made you lost in life like a lot of us. Go to the website http://www.oxfordhomestudy.com and in the search bar type in 'short course'. You will then see a list of different, free courses that they offer. No excuse of being bored or under skilled now. I understand motivation may lack during NoFap due to flatline etc but at least read through something that interests you. It's better than binge watching on Netflix and eating unhealthily.
Exercise, Fitness, Health & Nutrition | https://www.youtube.com/usesixpackshortcuts :
If you want to improve your health drastically, get in great shape, improve confidence and be overall healthy then NoFap provides you with the energy to do that. I understand that a lot of guys may have never entered a gym in their life's due to preferring to stay home and fap. Getting a gym membership and testing out a few machines is easy but I recommend doing further research into nutrition, muscle groups, effective workouts and the full run down on what it will take to build that God like body that you can imagine for yourself. In that case I recommend visiting: https://www.youtube.com/usesixpackshortcuts I use this channel quite a bit myself for workout advice, the best workouts for certain muscles, the best foods to eat, workout and dietary timing and so on. They even focus heavily on intermittent and normal fasting which have been said to have a great impact on rebooting the brain quicker in the NoFap process. Check them out.
Baby Pips (Forex Trading) https://www.babypips.com :
This one is slightly more complex and I've only just started it myself to be honest. However, theres no harm in gaining additional skills. The greatest benefit of this one is the fact that you will be learning how to make money, FROM YOUR PHONE. Trading the financial markets is something regular guys only dream of doing even though they realise the great potential for wealth in doing it. BabyPips makes it possible to learn FOR FREE, FROM HOME and IN YOUR OWN TIME! If you've got no money, this could be a great way to start making some, once you know what you're doing of course. If you've actually got a bit of money to spare and willing to learn a new way of making money then this will be a great start. You never know, this could be that kick in the direction of financial independence you've been looking for.
Self Development Books:
If you're like me and prefer the physical version of things and not looking at a screen for hours on end every day then you will probably prefer reading real life books. My recommendations which I know will be beneficial for guys on NoFap especially include:
Think & Grow Rich - Napoleon Hill Outwitting The Devil - Napoleon Hill Rich Dad, Poor Dad - Robert Kiyosaki Talk To The Hand - Lynne Truss How To Win Friends & Influence People - Dale Carnegie The 4 Hour Work Week Millionaire Fast Lane 48 Laws Of Power Emotional Intelligence The Power Of Broke
Some of these are more interesting than others but I assure you each of these books will push you forward as a person on your journey of self development. Go check them out.
Photography, Videography & Cinematography https://www.youtube.com/usepetermckinnon24 :
This one is more specialist for someone who doesn't know what they want to do, I'm just throwing this idea in for you. This channel is run by a guy names Peter McKinnon who has proved to be a successful photographer and videographer, having his own exhibitions and almost 2 Million followers on his youtube channel. Why not try picking up a completely new skill, learning something that will make you a better person and then maybe earning some good money doing this one day?
If you think this may be for you, check out his youtube channel, maybe watch a couple of videos see if theres anything you like the sound of or anything that interests you. He does video editing as well and does tutorials of different effects you can learn. I think he even has a video of how to learn an editing software in 15-20 minutes so theres a wealth of knowledge that can be found on his youtube.
Guys it took me wayyyy longer to make this post than I had originally wanted. I had just never seen a post like this on this community or any other one. People will always say recovery is not about abstinence but instead, changing your life but then only give you life changing tips related to avoiding porn. I've tried to give you life changing tips that directly change your life.
Quick visualisation. Imagine the kind of person you'd be if you did everything on this list. Self actualised, worked out, learned to trade, read books, picked up a new creative skill, ate healthy and gained new qualifications. Now thats what I call a 180 turn in the right direction. Okay we fucked up watching porn and set ourselves back but the thing with life is that its not how you start, its how you finish. How will we finish? How will we finish this year, this month, this week? If relapsing is not in the cards for you then please pick up at least one of these, it will ease the pain and make you a better version of yourself. I do honestly wish you all the best guys and I recommend sharing this post with someone who may be struggling with lack of direction in their NoFap journey because there is a void we must face in our recovery. I'm currently taking a course in fashion design and absolutely loving it for the record. Love you all. Good luck!
submitted by wetherealrockstars to NoFap [link] [comments]

The importance of backtesting and sticking to a strategy

Hi all,
I just wanted to share my trading experience with you so far, and maybe help some people who may be in the situation as I am. I started trading about 2-3 months ago. I started with baby pips, opened a demo account, and got cocky a couple weeks into it and made a live account with $100, and every other week or so put $20 extra in. (thank God I didn’t put it more than that). Today, my account stands at around $68, with a total P/L of -$131.76. I have been really uncomfortable losing money, even if it’s not a lot, and that uncomfortableness forced me to realize my mistake.
I thought I could half ass a strategy and be a winner in forex, and the market humbled me extremely quickly. I actually didn’t have a strategy at all. It was a lazy mix of a bunch of different typical strategies I saw on YouTube. I also let my emotions get into trades, after a losing trade I would get back in the market in the opposite direction to try and make up for my loss. All bad, I know. I was too cocky.
Just like anything difficult in life, you cannot half ass forex. I spent all of Friday testing an EXTREMELY simple strategy on 4 major pairs, and out of 93 total trades over the last 6 months, the win rate of my strategy is 73%. From now on, I vow to ONLY make a trade when my strategy presents itself. Moral of the story is, if you think you can half ass forex, you better wake up right now. Find a strategy, backtest it, and only trade said strategy. Have some discipline.
Here is my extremely simple, backtested strategy with a 73% win rate that I got from The Trading Channel on YouTube:
Indicators: 200 EMA
Requirements: 2 wicks IN A ROW that TOUCH the 200 EMA, that have candle bodies that both close above or below the 200 EMA. If both candles close above the 200 EMA, go long. If both candles close below the 200 EMA go short. Stay extremely strict with the rules of the strategy.
Here are the pairs that I have tested this strategy on over the past 6 months, that total a 73% win rate:
-GBP/USD: 18/27 winning trades (67%)
-NZD/USD: 15/27 winning trades (71%)
-EUUSD: 15/20 winning trades (75%)
-EUGBP: 20/25 winning trades (80%)
All backtesting was done on the H1 chart. I tried on the daily and H4 charts but the frequency just wasn’t enough. In the video that I got this strategy from he was trying to highlight the importance of the frequency of your strategy. Even if it may have a really high winning percentage, if it only happens once a year it’s not a good strategy.
Also on a side note, I’ve seen a lot of conflicting opinions on whether or not the US election will effect USD pairs, do you guys think the election will mess with my strategy this upcoming week, or should I just trade my strategy and pay not attention to the results of the election?
Thanks for reading, and happy trading
Sincerely, u/emopatriot
submitted by emopatriot to Forex [link] [comments]

Leverage and holding a trade

So suppose I enter a buy trade on a currency with a 3:1 RR. Over the week The price constantly fluctuates between the tp and sl but never hits either. What are the disadvantages of holding that position. Baby pips glossed over swap fees but I couldn’t quite get a good grasp of how they work. I’m assuming they are broker specific but still a general explanation would be much appreciated. Also if a trade does this to you...how long will you hold on the trade, do u pull out with a little profit or stick to your strategy. I mean if u are trading a respectable lot size using leverage it’s not technically ur money so how do u figure out if it’s worth holding the trade regarding the fees to hold the trade.
Also they talked about earning interest if the currency u hold has a higher monetary rate or something . Is that a portion of forex where people profit off too or am I overthinking all this. Thank you for reading this newbie shitpost.
submitted by toxicflux77 to Forex [link] [comments]

Is this something I can learn on my own?

It seems like it’s got a learning curve to it. I have a friend that does forex trading and I told him I found baby pips. He basically told me I’m better off buying a program and have him and his group teach me. I’m just wondering what underlying intentions he may have, if he makes money or something for me signing up for the program. How many of you are self taught?
submitted by HorseDonkey17 to Forex [link] [comments]

Mac vs pc?

I’ve searched this forum but haven’t really found the info I’m looking for so I’ll just ask. I’m learning right now in baby pips and wanted a demo account to use concurrently . I’ve been a Mac user for years now (graphic designer) and I need to buy another computer for the household for other reasons so I wanted to know if I should bite the bullet and get a pc because it seems a lot of people say you have more access to platforms on there or stick with Mac because that’s what I know and utilize more.
If I get a Mac will it be to my own detriment as a newbie? Is a PC to forex what Mac is to creative work? What’s the consensus?!
Edit: thanks for the replies, I’m going to go with a pc since it’s much cheaper and I’d only really utilize it for trading. I’ve also noticed everyone mostly mentions MT4 so I guess I’ll start there with a demo.
submitted by awayawaytoday to Forex [link] [comments]

Professional Traders, When Did You Realize That You Found Your Niche?

Hey yall, I've been trading stocks since I was 16 on paper trading, am in school for finance and discovered FOREX while talking to an old Sergeant of mine (he tried to get me to buy into a group lmao). Anyways I didn't buy into the group for obvious reasons but started researching on my own and took the baby pips course. A lot of this seems like common sense to me but from reading the post it looks like it isn't that common at all. I have always been good at math, I'm patient, I am responsible, and I am really feeling like I am finding my calling after consistent double digit pip wins and only 1 double digit pip loss since I have started trading real money. I am curious to see when, for those of you who have turned this into a career, realized that you had a knack for trading. I am skeptical if I can turn profit long term because of the probability of becoming a profitable trader but... if my competition is anything like the average poster in this subreddit I am starting to be more optimistic. I have been following the general consensus advice so far and have turned 20% profit this week. I understand that this level of profit is not sustainable for the long run but am curious to hear from the people who felt the way I do now early on and, discovered their hunch was correct? I had about 2500 start up capital and am just north of 3k currently. At what point did you realize that this is something you want to do for the rest of your life? What are some words of caution you can offer so I don't get swept up by a solid win streak and get cocky?

Edit: 24 years old, just payed my car off and have about 1600 in risk capital per month as well if that helps any
submitted by KnickCage to Forex [link] [comments]

I'm very interested in just forex I have my toe in the door

I'm very interested in learning to trade with forex really. I was introduced to it by my co worker. So I looked it up on here, read a couple of posts about where to start. A good majority recommended baby pips and demo fake money trading. So I'm writing down notes making sure I'm taking down the essentials ig. But my problem right now is really my co worker telling about this academy. It's called IM academy and to me it sounds so damn much like a pyramid scheme I was even on face time with this dude that was her mentor who showed her this academy. Im so unsure whether or not this is real. So I guess what my question is are any of these academy legit and/or can I really actually do this on my own ? Because they really put that idea of when you join you have people to bounce ideas off of. Saying stuff like we are a family. I'm just fuckem confused. Idk
submitted by Nasty_Fuck to Forex [link] [comments]

trading plan/strategy

I’ve been learning about forex for about 1-2 months now(baby pips, books, YouTube, Reddit, etc) and I still don’t understand trading strategy/plan. I don’t get how I’m supposed to develop one when I don’t know what I’m doing or what a plan/strategy involves. It also confuses me how I see so many YouTube videos on strategy’s and there I sooooo many. It’s very overwhelming. Someone please help me to give me peace of mind.
submitted by dylan_2210 to Forex [link] [comments]

Reality Check, Please

Hi everyone,
Seeing the recent volatility in the markets has inspired me to brush off my trading cap and try my hand again after taking a year and a half hiatus. I’m currently in college studying International Economics and I’m hoping trading will be a good way to put my some of my schooling to work.
I am trying to estimate the feasibility of starting up a small account (~10k) with a few of my classmates who are top students studying Computer Science/Finance/Econ. What sort of returns are to be expected for relative beginners in current FOREX volatility?
Our current plan is to swing trade, taking intraweek positions to capture the back and forth in the EUUSD. I have completed the BabyPips course and have read some other books (namely Kathy Lien’s best selling FOREX manual). From googling around in forums, it has been hard to filter the bullshit returns that lots of folks claim to have. How realistic is a 5% monthly target? Would I be better off putting my 10k in another asset class now and walking away?
Thanks for you help! Any advice is appreciated.
Edit: Hey folks thanks for the advice! So far there’s been a range of optimism, which has been inspiring and fun to read. I wrote this post on the fly, and I understand I made it seem as if I were going to dump a whole 10k all at once for 3 trades. Not the plan for now..
submitted by Phill_Mike_Hunt to Forex [link] [comments]

how to be profitable in forex trading?

nagsimula ako mag trade ng forex ngayon buwan dahil hindi po ako nag enroll ng online class. meron lang akong maliit na capital na pang trade para pag practice na rin sa real time trading. kasalukuyan ko pong binabasa yung trading price action trends by al brooks. nabasa ko na rin yung baby pips hanggang elementary level pero kapag nag ttrade na sa tingin ko sa psychology talaga ako natatalo. cinucut ko losses ko before it actually hit stop loss at nag ttake profit ako ng maaga. hindi ko rin talaga maintindihan mg indicators. gumagamit ako ng moving average para makita lang yung trend.
submitted by PusangKuryos to phinvest [link] [comments]

BabyPips

Has anyone heard of Baby Pips to learn how to forex trade? And if so, is it any good? I’m looking for something that will teach me to the point where I can make this a full time job. I want something that is well known and I don’t care what the price is, I will dedicate my time to it. So if baby pips is the way to go, then let me know. Or, if there is anything better out there, then let me hear it! Any recommendations will be helpful! Hope you all are staying safe!
submitted by DreamK3ng to Forex [link] [comments]

Backtesting advise? Kinda stuck

Backtesting advise? Kinda stuck
Hello traders. I am kinda new with forex. Still studying baby pips and have watched some YT. I tried backtesting GBPUSD with a plan I come up with which I though not really that promising because of some flaw in it. I am backtesting with 200 USD just to make sure that the system works, and when I start with a live account I can re-create the plan with 200 USD and start compounding.

This is my plan for now:
  • 1 hr chart
  • Aroon Up/down
  • ATR 14, for SL and lot size
  • 2% risk per trade
  • 2 trade (1 with 1:1 RR, 1 w/o TP but close when Aroon crossed)
  • Let the trade (1:1 RR) run until it hits SL or TP
  • If the trade (1:1 RR) hit TP, the trade w/o tp should close on the next Aroon cross
Long
  • Aroon up reached max
  • Charts are above 50 ema
  • 50 ema is above 200 ema
Short
  • Aroon down reached max
  • Charts are below 50 ema
  • 50 ema is below 200 ema

The Results are:
  • No. of Trade : 300
  • Win Trade : 171
  • Lose Trade : 129
  • Winrate : 57%
  • Duration : 12 months
  • Total profit : 478.045%
  • Monthly profit : 39.837%
  • Highest Streak
  • Win : 11
  • Lose : 9

Progress
  • 14-Jan-19 : 200 USD
  • 7-Jan-20 : 1,156.09 USD

https://preview.redd.it/bzz7k1c92w451.png?width=621&format=png&auto=webp&s=26d52b8069135de85f6d17aa6a45080ee5153efd
From backtesting, I found:
  • Risk management need more evaluation, seems dangerous
  • need better exit indicator
  • Need trailing SL to lock profits
  • If the distance between both EMA is small, it tends to lose
  • If some of the previous bars (candlestick) are small, it tends to lose
  • need to consider the spreads
  • when balance reached 1000 USD, it is harder to grow, bigger losses
  • Lot sizes also killing the account
  • need to cut unnecessary losses, filter "flat" charts
  • need forward testing
Any advice on how to filter out the “flat charts” early? Most of the time these charts are the culprit to my losses. Or any other advice that I may need to know? Thank you
submitted by fadilke2 to Forex [link] [comments]

College forex trader - would appreciate some help!

So a few months ago, someone I had met in the first few weeks of my first semester at college, had been posting pictures of his MT4 account with his profits, and I was pretty intrigued. I asked him what it was, and he said it was the Forex market, so I wanted to learn more and asked to meet up with him. When we met he was explaining it a little more and told me that he was in this networking trade group called IMarketsLive and went on to offer for me to sign up, upon which I said I wanna do a little research before I sign up for anything. And so I did, and saw a lot of different opinions about IML and the things they do, and I wasn't really attracted to the networking aspect and also did not want to start paying $275 a month just to be in the group. It seemed to me like it was kind of a pyramid scheme, so I turned down the offer but decided to try to learn about the Forex market for free on my own.
I started doing more research about it in my free time, and eventually I discovered the BabyPips website where you can go through around a 330 lesson course, which goes through a lot of the basics and foundations of Forex trading. I made it through that in about a month and a half or so, and then opened up a demo account with IG. I watch a lot of youtube so more and more videos about forex started popping up in my recommended and have definitely helped along the road.
One thing I saw is not to have a demo account for too long, so after around a month of having the demo and getting a little profit, I opened a live account with $300 on Oanda. I use their online trading platform and it's alright, there are some things I liked better with IG but that's besides the point.
I've been trading with lots of 500 units or less so I'm only down about $6, but I feel like I'm kind of stuck. After all the stuff I've read and watched so far, I've come to understand that there are some key things every trader needs to do. From what I've seen, it's
Among a few other things I might be forgetting, I understand these are crucial points to follow to become a successful trader. The only thing is I feel like I've flooded myself with so much information and I really don't know where to go from here. I don't have a trading plan mainly because the best thing I've heard to do is make one that fits my trading style, but simply put I don't know what my trading style is and don't know how to actually construct a usable plan.
I know many people join the market because of the dream of turning $25 into a million dollars, however I don't have that mindset. Also I know I should focus first on preserving my capital and being consistent rather than focus on getting a lot of money, I just don't know how to do this. I am ready to put more effort into the market, I just don't know where to put it.
Another thing to note is that for when I am ready and have developed a proper strategy and everything, I have sufficient capital (around $3k) to actually start making some serious profit. (for a 19 y/o!)
Anyways, if you would like to give any advice, tips, things to avoid, stories, anything - that would be greatly appreciated!
Thanks for reading👍
EDIT: This is my first time using reddit so I can't reply to anything because I don't have enough karma whatever that means. But thanks for your responses, they will definitely help me to start building my own strategy.
submitted by sender27 to Forex [link] [comments]

Need Help With A Strategy

Hi there. so first off a little background information, I am currently 16 years old and I got into forex trading about 6 to 7 months ago. I've spent the past few months doing the babypips course as well as taking online lessons to learn things such as harmonic patterns, support & resistance, using fibs and stuff like that. Along with this, I've been trading on a demo account with pepperstone to see what kinds of strategies work for me, which is mostly scalping as well as trading on the 15m tf. But here lies my problem. I want to move on to a live account, which, as recommended, obviously means I'm going to need a strategy. I've experimented and tried to find what works for me and I've understood very well what environment and timeframe I like to trade on, but I'm unsure how to form a strategy which I can follow and play by. I've tried multiple strategies such as the 3EMA(8,13,21) strategy on the 15m tf as well as strategies based on indicators, but nothing seems to work. Everything I try works for about 2 to 3 days, but eventually turns around really really fast. I was wondering if anyone could help me or give me tips on how to, or rather, the steps to building my own strategy. I decided to come here as I browse this subreddit a-lot and I've met and seen some of the nicest and most humble people here, hence coming here and not going to some baby pips forum. Any help is appreciated, thanks so much if anyone replies!!!

EDIT : Hey guys so I have in fact gotten the advice I was seeking for, and like I mentioned below, I was practicing S/R over the weekend and tried planning ahead for this once, these are my profits for today with only half the knowledge as well as half the time due to school as well as no strategy. So I'd say pretty good returns on a 200$ demo account with 1:500 leverage who gets barely any time to trade....and is testing a strategy. Anyways, thank you so much to those who responded and helped out!!!!
submitted by shlokilimanjaro to Forex [link] [comments]

Trying to learn a successful strategy

Just recently been looking into forex. Learned on baby pips and went on to try my hand at trading gold starting with 100$ using a 1:100 leverage. Is it honestly possible to produce a gnarly income doing this? And if so any advice or strategy info. Day trading is something I’ve always wanted to do and since my campus is closed due to the virus and I’m stuck with my parents again I’ve been trying to develop some standing group without the use of a “Instagram forex guru” charging large amounts for advice you never really know is real. 23y/o.
submitted by basedlord6969 to Daytrading [link] [comments]

CMC Markets: is everything in CFDs? If so, how do the forward date ones work?

I just started a demo account with CMC Markets, and I was wondering if every single asset listed is traded as a CFD? When learning about forex from BabyPips I had the mentality as if I'm literally trading the currency; as in if it were in person, I'd be giving some coins in one currency and receiving another. I guess since CFDs are linear derivatives it doesn't matter as much, but I still feel like there are some additional considerations when trading CFDs vs "actual currency"? Also, what are the maturities on these? Are there even maturities? All the quotes just say "USD/CAD", "EUJPY" etc, but from my understanding of a CFD, you agree to pay the difference from actual and agreed, much like a future, so why are there no maturities?

Question 2: For CFDs on things like equity indices, they seem to trade the whole day unlike their underlying. Does this mean say at 9pm EST the S&P500 CFD is just people essentially betting on tomorrow's open? And again with the futures thing, does after-market hours trading in these CFDs affect the real opening price the next day? (If markets are efficient and we assume there are people watching CFD prices like future prices, and then tomorrow's early trades become based on what the futures markets seem to say about the S&P, holding news and other things constant).

Question 3: For CFDs with maturity dates like commodities on this platform, how does that work? Again, I'm mostly confused at how CFDs operate without maturities and how they different from futures. On the CMC markets platform, many agricultural commodities come with the suffixes like either "cash" or a maturity date, but currencies and equity indices do not. What does this mean? Those commodities I'm clicking trade on...am I trading a corn CFD? Or a CFD on corn futures? What exactly is the underlying mechanic?
Question 4: yet another example. For the bond indices...what am I looking at on the platform? I just want to get a chart of US treasury yields but I don't think that is available on CMC. What am I looking at when I click UK Gilt Cash or US T-Bond Cash or US T-Bond Jun 2020?

Tl;dr Don't understand the mechanics of CFDs and thus I'm not sure what EXACTLY I'm actually trading when I trade things like currency, equity indices, commodities. Surely I'm not actually trading a physical commodity or actual shares. Please note this is specific to CMC markets.
Thanks :)
submitted by fittyfive9 to Forex [link] [comments]

Forex Beginner

Hi guys I’m new to Forex Trading and I was wondering if anybody could recommend me any sources to expand my knowledge. I’m currently using BabyPips.com to learn about all about the basics. Thanks!
submitted by donsebas to Learn_Forex_Trading [link] [comments]

A Quick List of the Best Forex Signal Service Providers (Paid and Free)

A Quick List of the Best Forex Signal Service Providers (Paid and Free)
https://preview.redd.it/8xclw78vdxt41.jpg?width=294&format=pjpg&auto=webp&s=59181d876b45b3a7b5a7524454f4dae6baf65dfb
Already opened an account and ready to try your luck and polish your skill in Forex trading platforms? In case you are a newbie you have to take support of the expert trader to gain as much experience as possible. Even this will help you to be successful in the long run. But have you ever thought about the ways to start trading?
Probably, following trading style of any experienced trader will be really helpful and saves much energy and time as well. Moreover, you can come to learn several new as well as efficient trading strategies at the same time. Sounds great and pretty simple, right? But the troublesome is regarding the selection of the trustworthy Forex signal service provider.
While you are in trouble this blog is perfect for you! It entails the leading and best Forex trading signal service providers from both paid and free category. So what are you waiting for! Just go through it once to narrow your choice and select the most coherent one to enjoy trading.

1. JKonFX

While you are hunting for a reliable as well as profitable online trading signals provider along with track record there is the team of JKonFX lead by Joel Kruger. This personality has a reputation in this type of trading with about 59.16% of journal performance for the year 2016.
He has offered real-time fundamental and technical insights and that too in an utmost transparency to its 30000 subscribers. Being the lower frequency trader, sending trading alert is only a minor part of this Forex trading signal provider. If it is about comparing numerous options to choose from then you may look for other reliable ones.
  • Verified statistics: Not verified independently
  • Price: $30 monthly
  • Year founded: 2014
  • Suitable for beginners: Yes (including easy-to-follow video updates)

2. Forex Signals

Since its establishment in 2012, it is the top trading signals provider to provide 24-hour accessibility to the trading rooms and that too live. There you get the chance to observe the ways by which experienced trading coaches execute the trade and share the market action whenever it gets revealed in real time.
Besides signal service, it also offers access to the track record of the profits where investment can be made through the managed account. It is only signal provider that owns verified statistics independently on myfxbook. The link is also given to their respective live account of the master.
As it offers everything in such a transparent way, Forex trading by selecting this provider becomes much easier and profitable in the long run.
  • Verified statistics: Yes
  • Price: $97 every month
  • Year founded: 2012
  • Suitable for beginners: Yes

3. DDMarkets

Since May, 2014, DDMarkets (Digital Derivatives Markets) is offering the trading alert services in the form of a detailed document regarding the respective trading ideas in utmost explicit manners. Its procedure is quite simple all you have to do is to perform an extensive research for sharing the analytics while delivering the triggered trading signal.
After its get issued, you will receive daily updates via email. It doesn’t bear floating of the open drawdown to put effort to make profit anyhow. This technique is only followed by the renowned providers for fudging the trading performances.
  • Verified statistics: Not verified independently.
  • Price: plans from $74.40 monthly
  • Year founded: 2014
  • Suitable for beginners: Yes (including easy-to-follow trade analysis)

4. 1000pip Builder

The leading trading signal provider is 1000pip Builder and is one of the few to offer independently verified and tracked results. It focuses on developing potential as well as consistent outcome with little to no drawdown. By following this strategy they are the only one to generate about 6000 pips in just 1 and half years.
Every complicated analytics (key component of the Forex trading) are done by the leading trader Bob. Whenever you take a trade via this trading signal provider, an instant message filled with other crucial pieces of information will be sent via SMS or email. Generally, it includes taking of profit level, stop loss and entry price so that these can be followed by you in an appropriate way.
  • Verified statistics: Yes
  • Price: $97 monthly along with 30% discount
  • Year founded: 2016
  • Suitable for beginners: Yes

5. Traders Academy Club

Previously known as Vladimir Forex Signals, the Traders Academy Club is established in 2011. It offers standard signals which are sent to the traders via a specific Skype group or Email. But primarily it is an online Forex trading education centre.
As there isn’t any verified statistics statistically, it exhibits every previous signal and trade through which comparison will be much easier with your original outcome. Live trading experience and hundreds of educational trading videos are offered via this signal.
  • Verified statistics: No
  • Price: $97 annually
  • Year founded: 2011
  • Suitable for beginners: Yes

6. Forex Mentor Pro

Play every day videos of the team of Forex Mentor Pro for listening into their insights of the market for upcoming weeks and days. Since its introduction in 2008, the team offers the accessibility to 3 trading systems by eradicating the necessity of the performance statistics. But step-by-step guide of the training videos will be posted so that you can attain the much-required speed.
  • Verified statistics: No statistics mentioned
  • Price: from $16.40/month annually or $47/monthly
  • Year founded: 2008
  • Suitable for beginners: Yes (including training videos and systems)

7. Honest Forex Signals

Since 2011, Honest Forex Signal commences offering a trade copier signal service. It has developed a specific page dedicated to the trading statistics that comes with links for displaying the last return on the myfxbook. But it never link myfxbook directly and hence it doesn’t look so independent. However, certain good reviews have acquired by it on the web and several traders comment that its services are quite helpful.
  • Verified statistics: No
  • Price: $177 per month
  • Year founded: 2011
  • Suitable for beginners: Yes

8. Daily Forex

Apart from offering free signals, both video and written instructions are provided by it which makes it unique from others. It will interact with you regarding the ideas under the traders which things are important to look for to enter this market.
Other crucial pieces of information can be also gained on its site. This will be quite interesting if you still stuck to it on completion of trial period.
  • Verified statistics: No-free service offers market feedback
  • Price: Free
  • Year founded: 2006
  • Suitable for beginners: Moderate

9. Baby Pips

This signal provider considers every trader as newbie and so offers detailed information in the “About Us” section. Even the information is really helpful to train the novice Forex traders. Also market signals and analysis is provided by them which can be easily founded under “Pick of the Day” section.
Its main motto is to teach the relevant reasons underneath every decision of trading so that you can become an expert one soon. Signals can be received via their posted blogs on the site via Facebook and Twitter.
  • Verified statistics: No-free service offers market feedback
  • Price: Free
  • Year founded: 2005
  • Suitable for beginners: Yes

10. Forex Peace Army

Though it is popular for the recorded reviews on the Forex yet it offers a few free trading signals as well. It has a set up of its forum style where an article is posted every day filled with detailed instructions on the way to act on every particular bit of news on the basis of the immediate effects.
Even summary of the tradable news is posted on a weekly basis where you can come to know about what is coming up next week as well.
Verified statistics: No-free service offers market feedback
  • Price: Free
  • Year founded: 2006
  • Suitable for beginners: Moderate
These are the best Forex trading signal service providers you can ever find. However, you are not insisted to choose any of them if you can find much better than these then, you are supposed to choose that one. But you should look for a reliable signal provider on the basis of the considerable aspects.
Technical Trading Signals is also there which can be your perfect trading partner as well. Even it offers both automated and manual system of sending notification to the traders via Telegram, Email, SMS and WhatsApp regarding every step of trading.
As it comprises of maximum risk it is not an ideal option for every investor. Every sort of leverage gets against your trading step. You may lose consecutively your investment as well. Financial advice is better to seek before starting trading.
submitted by ttsignals to u/ttsignals [link] [comments]

Why I Think The Emphasis On "Strategy" Is So Misplaced

This is a recurring theme that's come up in people reaching out to me via DM. I'm getting asked a LOT about my 'strategy' and getting requests to review your strategies / trading plans, so I thought I'd bang out a post here as a sort of catch-all. It got to the point where I was copy / pasting the same reply to a number of people.
Strategy is really important. You definitely need a cohesive strategy or set of strategies that help determine what gets you in and out of trades. I personally run a mechanical trend-following system in addition to my discretionary style of trading. Even my discretionary style of trading however, is viewed through a framework that gives me consistent structure to follow on trade after trade.
Now that I've gotten that point out of the way, here is my next statement:* Strategy is COMPLETELY USELESS without having a thorough and expert understanding of the markets in the first place*
Here's my analogy: let's say you really want to get into the fast food business. Now let's say you're fairly smart and you realize that your best chances for success are to buy into an established franchise (McDonald's, Taco Bell, KFC, whatever). Now here's the kicker, who do you think is more likely to succeed at running this franchise? Someone who has worked within the industry their entire lives and knows it inside and out, versus someone with no industry experience. Okay, okay, that question is completely rhetorical; it's obvious who has the edge here.
Trading is no different, and it's why buying a course or finding a guru has let so many of you down so many times before. You're trying to follow an established plan (one that has in fact quite possibly brought success to whomever is selling you their wisdom), but without an expert understanding of the industry you are participating in.
If you reject my premise that knowing your shit when it comes to the macro side of things is important, that's fine. Let's take what seems to be the dominant retail route of pure technical analysis. If you don't know technical analysis inside and out, you are not setting yourself up for success when you buy a course (or even read through a free one like BabyPips). After doing a rough search for Forex courses, I haven't found any technical ones (maybe apart from Adam Grimes. I like Adam; don't know the guy personally, but know of him through colleagues) that actually teach you about technical analysis and not just are feeding you a strategy.
My entire point here is that if you don't engage with the nuts and bolts of the arena in which you're competing, you are at an inherent disadvantage. For example, I've talked to a trader that had Stochastics, RSI, AND MACD on their chart. What is the point of having 3 momentum indicators apart from enjoying a gratuitous circle jerk of redundant 'confirmation'? But this trader didn't know the math behind the indicators, what makes them similar and different, how they can be applied. If they did, then maybe they could have explained in greater detail how having those 3 gives them a defined edge.
My favourite example of a trader who 'knows their shit' is Thomas Bulkwoski. I don't like his style, but you can't deny he has done his homework. He has dived so deep into chart patterns that from memory he can quote you various failure points and success rates for individual patterns. He has meticulously studied what works and what doesn't, and can explain the WHY behind all of that.
If you don't know your shit, you will eat shit. So know your shit! Once you know your shit, then it becomes far easier to strategize.
End of rant :)
submitted by ParallaxFX to Forex [link] [comments]

How to Win in Forex

If you practice strict money management rules, then you will become the casino. The house always wins because the casinos know how to control their losses.
Most people have to learn the hard way.. or don't learn from their losses at all due to emotions getting in the way. Don't be fooled by people who use big lot sizes and make big wins on social media. They suffer big losses too and if they don't control their risk management then they will not last long. The problem is that far too many people want to get rich quickly, but nobody wants to get rich slowly. Some of you, if not most, know what I'm talking about.
Take this scenario for perspective. Let's say we have a contest based on these two constants.
Who is going to come out on top? Undoubtedly, me. Why?
Because at the end of the day, money management is the only thing that will be in charge of making your account go up or down.
So how do you exactly make sure that you are using proper risk management? I would suggest either downloading a position sizing indicator and throwing that on your MT4. This will do all the math for you, saving you countless hours over time. You can find a good one on Google. If you are serious and thinking about becoming a professional forex trader for years to come then you can spend 30 minutes searching for an indicator.
The second part is to stick to your trading system. This will require some backtesting. Save your money and take the time to backtest your system. A system is needed to properly trade forex. Why? Because a system is quantifiable.
A system is basically a series of "if, then" statements.
Example: If price is below my moving average, then do not enter a long position.
You need a string of rules, or constants, to create your system. Again, if you take trading seriously, then you will take all the time you need to play with all sorts of indicators in order to find your own system until you find what works for you. This step is crucial. This is why you can never rely on another person's analysis because it is not consistent and is out of your control.
When it comes to me and my money, I want to eliminate as many things as possible that are out of my control.
With this being said, this should be a clear explanation on why price action trading is nearly impossible to consistently make profits and win in forex. There's way too much guess-work involved. Don't believe me? Have you ever found yourself asking any of these questions below? If you do, then welcome to the majority of traders who lose money.
With this said, ladies and gentlemen.. as much as you want to believe you are some kind of magician, we cannot predict the markets.. especially if you're trading with pure price action.. at least not consistently. Predicting the markets is basically the same thing as trading blindly and it's a sucker's game IMHO.
The purpose of a system is to give you an edge over the markets.
To sum up this lengthy post, here are three takeaways:
  1. Create a quantifiable trading system.
  2. Practice proper risk management.
  3. Find what works for you.
Edit: Things to study.
Baby Pips
Trading in the Zone
No Nonsense Forex
submitted by jarjar- to Forex [link] [comments]

Question about trading capital

We recommend that you have at least have $100,000 of trading capital before opening a standard account, $10,000 for a mini account, or $1,000 for a micro account.
From BabyPips
I'm planning to open an account with $100 trading account only, just to test it out. How true this statement and did you follow this before you open an account?
submitted by kyros0023 to Forex [link] [comments]

Need some legitimate risk management advice

Brand new to forex, after messing around with stocks and ETFs for a year on robinhood.
In trying to learn about this strange new world, seemingly every article warns me that trading forex is the fastest route to poverty, that I'll lose every dime I have and that I'm better off buying lottery tickets, UNLESS I have a risk management plan.
That's all good and well, but it seems hard to find suggestions on how to actually manage my risk. So far what I have found is either unconvincing, or I just flat don't understand what is being explained. So I've landed here.
Reading the Forex FAQ, in this sub, the advice is to use a very small amount of capital when starting off, and practice live trading from there. If then recommends a formula to use in order to calculate risk, which seems like quite a bit of running calculations for every single trade that I make. Is it really the case that every Forex Trader that manages risk runs a series of calculations for each and every trade in order to figure out pip value and leverage amount, such matter and what have you?
Second problem, before even getting to the risk management section of this Subs FAQ, I'm told to read The Beginner's Guide on baby Pips. Babypips says that when you first start off trading you should not start small because then you will never be able to weather times of drawdown. They recommend something like an initial deposit of $20,000 or 50,000, and saying that if you don't have that much then build up your savings and come back the Forex when you have that to drop into the market. Are you kidding me?
My original plan before reading either of those guides was to deposit $300 and use something like a 10 to 1 or 20 to 1 Leverage.
The part that I'm hung up on which really baffles me and I need some help understanding is everywhere seems to say that I should only risk one or 2% of my account. I don't really understand what that means.
My trading app, OandA allows me to set default trade settings. One of them is trade size, which I can select an option "%Lev NAV" In all of my general Trading I have kept this number at 100, assuming that it is simply using 100% of my account for each trade.
I am also using a system in order to Define very specific entry points with a one-to-one risk reward ratio, setting a stop loss and take profit Target, usually between 9 and 60 Pips in size, depending on the instrument. Thus far, each trade that I have won usually amounts to a 3 to 8% change in the demo account value, which seems comprable to what I was experiencing with stocks and ETFs back on Robinhood. For the last 4 trades I've made, I'm up 15%.
Do I need to adjust this % Lev NAV down to 1% instead of 100? Or do I really need to download a pip value calculator app and make a determination after solving some arithmetic? I just can't seem to figure this out, and different sources use the same words interchangeably yet differently. When risking 1% of my account, does that include leverage, or not, in the trade? And if the most anyone recommends to risk in a trade is 1-2% then why use leverage at all? Won't the returns on 1% be so small as to be negligible? I don't seem to understand how it could possibly be Worth while to spend all that time trading... 1℅ of $300 is three bucks. As I understand it, that would allow me to buy 2 units of the EUUSD... there's no way that could be right, right?
Thanks for your patience and for reading this whole, chapter-length, question of a post.
I look forward to some clarity. I don't know how to switch to live trading, and the demo account does nothing to simulate leverage.
submitted by rm-rf_iniquity to Forex [link] [comments]

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