Babypips Review

The economy has struggled over the last year, and we may in fact be in the midst of an economic depression. Investors of all sorts have seen their portfolios tank, and those who thought that the creative concoctions of investment bankers would always make them money have taken a bath. In the light of these struggles, every savvy investor is looking for a place to make money regardless of how the market goes—whether the apparent recovery continues or the bad times make another appearance. Foreign currency exchange (or Forex) is one such market. By trading currencies and playing the international monetary markets, people have found a way to make millions (or more) even in the tightest of economies. The level of risk is high—it is one of the few markets you can actually lose more than you started with—but with a smart strategy and a good background in the art and science of forex you can strike it rich even in this market.

Babypips.com is the place to go to get that knowledge and to develop that strategy—there are few resources on the web for the prospective forex trader as useful as this. While other sites offer magic bullet schemes to trick the market and make millions without any work or research (schemes that are often too good to be true), Babypips.com gives you the tools you need to do the work it’ll take to strike it rich in forex. Founded by five forex savants operating under pseudonyms like “Forex Gump” and “Big Pippin,” Babypips.com offers a one stop shop for getting straight talk and easy to digest yet still thorough lessons on the forex game. In a market that is as volatile and complex as that of foreign currency trading, the resources here are worth much more than you’ll pay (which is nothing).

Before looking at the specific resources available here, a clarification ought to be made: a “pip” is the smallest unit of change in the price of a unit of currency. It is the last decimal point when the price of a currency is quoted. For example, if the US Dollar goes from 1.5431 Euros to 1.5432 Euros, it would be said to have moved a single “pip.”

A good place to start on the Babypips.com website is the FAQ, as it gives you an idea about the style and sense of the site. Most of the questions are asked in a slightly snarky tone, with less than slightly cheesy jokes thrown in to keep things light hearted. This sense of humor infuses much of the site’s content and keeps learning about such dry topics as Elliott Wave Theory or support and resistance compelling. The other element you’ll notice that makes the site so valuable is that they lack the disingenuity that plagues so much of the work on forex you’ll find online. Because forex is a new market with so much money available, hucksters and get-rich-quick shakedown artists are drawn to it. It can thus be hard to find honest information. Babypips.com is the exact opposite—these are real people who’ve made real money who offer an honest service. Check out this line from the FAQ:

“(Y)ou can potentially lose all your money just minutes after you start trading if you don’t know what you’re doing. Others have lost all their life savings and ended up homeless.”

Hardly the sort of sweet talking a con artist would use. The experts at Babypips.com suggest newcomers practice with demo accounts using imaginary money for at least a few months before ever putting real cash into the forex game. They offer a number of resources to help you find the best forex demo sites on the web.

But Babypips.com hardly leaves you thinking you’ll never be able to make money in forex. They offer an almost overwhelming number of resources to help you educate yourself about this powerful investment opportunity. Perhaps the most useful of these is their “School of Pipsology,” a graduated series of lessons which will take you from learning what exactly forex even means all the way to the most complex financial tools available to currency traders. They organize the lessons just like a real education—you start with pre-school, move on to kindergarten, go through actually 14 grades (as opposed to 12—some of us had trouble, you know) and then 11 “college” courses. By the time you work your way through all of these lessons you ought to be a bona fide expert on forex, capable of translating major market indicators into their likely impacts on currency and executing sharp and timely trades that will make you big bucks.

The resources available in the School of Pipsology are more logically ordered and easier to digest than any comparable book or even stack of books or ebooks you are likely to buy on forex. If, however, you have difficulty understanding the information spelled out therein, Babypips.com does not leave you hanging there. They offer extensive forums haunted on a daily basis by expert forex traders from around the world. These forums mean that Babypips.com gives you access not only to the brains of their pithy and experienced writers, but to the brains of traders who know what their doing and are only too happy to help you learn what everything means. They also offer lively discussions of the day’s latest economic indicators and other news which has a habit of moving the market. That way you can make the right trading decisions whether you are leveraged in real dollars or still following the candlesticks on a demo account.

Babypips.com doesn’t just make you wait for the indicators to pop up on the forums either. Their “Tools” page includes a “Forex Economic Calendar” that does the tracking of the most important indicators for you. With daily, weekly or monthly views available, they organize the most important government and private statistics of economic directions and strength, organized by the currencies most directly affected. For example, when US employment numbers are released they issue lines on the unemployment rate, change in non-farm payrolls and change in manufacturing payrolls with a “USD” marker to let you know that these will likely affect the dollar. Not only this, but they have a flagging system (which is, of course, subjective, but still based on the lengthy experience of expert traders) which indicates whether the statistic will have a high, medium or low market impact. This feature alone would make this site worth visiting. With all the others they offer, Babypips.com is honestly almost breathtaking.

Other tools available to forex traders include a number of calculators for expert forex traders. These include a pivot point calculator, a Fibonacci calculator as well as pip value and position size calculators. These help you to use the most sophisticated mathematical tools to get a grip on what the future of the market will look like. With so much volatility, forex traders have become experts in being able to make a solid guess as to the future numbers they’ll be dealing with. By adopting favorite ideas from number theory such as the fascinating Fibonacci Sequence (and the Golden Mean associated therewith), they have made their work easier. Babypips.com gives you free calculators which will do the number crunching for you anywhere you can get on the internet. As if this weren’t enough, they offer a “Forexpedia” with definitions and short discussions of all the most important terms and concepts for forex as well as the names and currency codes for virtually every nation’s money in the world—from the Paraguayan Guarani to the Ukrainian Hryvnia and everything in between. Forex trading makes you a globetrotting capitalist right from the comfort of your own home: Babypips.com is like your passport to this exciting world.

Whether you’ve been trading for years or are just getting into forex, Babypips.com has resources and information you can use. With schools to teach you everything you’ll need to know, sponsors who can offer you a place to start and forums to pick the brains of experts from the other side of the world, Babypips.com will have your pips on the uptick in no time. Check them out today!