The School of Pipsology!

Hello folks!

It’s Friday, it’s weekend, it’s time to blog!

First week of trading game using stocktrack, a bit overwhelming since I have no idea what I have to do! Well, at least I know that I need to buy future commodities contracts at low price and sell at high price to reap profits, which I guess is the fundamentals in any business. Lucky me, I got a few friends who’re working for one of the major trading companies in Indonesia. So, I asked them for some guidance and they introduced me to the school of pipsology.

I believe that in a situation full of uncertainty, it is important to find, learn and understand the “know how” as many as you can. School of Pipsology provided good basic understanding of how to survive in a trading market. It is a website created for newbies to learn everything about trading (http://www.babypips.com). They have levels that correspond with materials for people with different levels and understanding. They are varied from preschool, kindergarten and all the way till graduation, not to forget the graduation speech!

The first thing that come up to our mind about school is “Ugh! It’s gonna be boring and dull!”. Scrape that! The school of pipsology is not boring at all! They are using unsophisticated sentences (if you know what I mean) to deliver the message along with simple yet funny examples and pictures to portray the idea. For example, when you first start going to “school”, you’ll see a monster picture, like this

to give us an idea how big New York Stock Exchange (NYSE) trades volume everyday, and this…

to picture how puny NYSE compared to the foreign exchange market (forex). I guarantee things like this will make the idea stuck to your brain easier and longer than a long boring paragraph!

Even though the school of pipsology mainly talks about the forex market and not specifically future contract, both of them still have the same basic idea. It can definitely be implemented on futures commodity trading. So, what are you waiting for? Go and check it out! It’s always best to go to a venture carrying as many supplies as you can to survive.

Truthfully, I haven’t traded that much during this first week. I did try to trade using stocktrack and ended losing around $2,000 in a glimpse. But, oh well! This is what I got for not finishing the lesson in school of pipsology ;p

Hopefully this blog will shed some lights to you guys who’s also having a hard time figuring things out in the trading game like me.

Cheers and have a good weekend!

P.S. wait for my blog post next week on my performance and things I’m going to learn the hard way in trading! Fingers crossed!