Did you already open a practice account? Have you installed MetaTrader 4? Great!!!
Next thing you should do is to learn a few basics about trading, buy some Forex books for a few hundred dollars and pay someone $500-2000 for their “HOLY GRAIL” trading system. After 5-10 weeks you will be a PRO trader, you will start making thousands of dollars per month, quit your job and buy a nice house on the beach. Right??? WRONG!!!
I am still a newbie trader but I talk to PRO traders every day. One of the first things I learned from them is that it takes years of trading to finally become a Forex professional. Forex is not some get-rich-quick scam. Forex is a business…it’s a job! Every job requires practice and experience: if you start working for an IT company you will have to spend years and years learning and programming and whatever. You have the same situation in Forex.
The second thing I learned from other traders is that all the information you need about trading is free. There is nothing wrong with people who sell their Forex trading systems, books and courses. Trading does not require a lot of time if you know how to trade, so these PRO traders have enough free time to write books about Forex, make Forex courses and sell them to make even more money. But if these traders are successful with their trading techniques, that doesn’t mean you will also be successful. Every trader is different! That’s why you shouldn’t spend money on Forex education and system. You should learn the basics, practice, practice, practice and, in the end, build a trading system that fits you. But what’s the best place to learn the basics?
BabyPips School of course!!!
That’s why I wrote this review! BabyPips is a place where you can find a huge amount of Forex trading information. They are number one resource when it comes to Forex education. The most important part of BabyPips is their Forex school. The BabyPips School allows you to start in preschool and work your way through “forex college”. Of course, you will never get a trading degree, but when you finish the school you will have a lot of knowledge about trading and you will know what to do next.
BabyPips School is completely free and you will learn all the basics you need to start trading. It looks like any classrom session: you finish the chapter and you get a test after that. The school is also very funny so you will never feel bored reading it. And if you have some questions, you can simply go to their forum and ask other members.