Babypips is a well-known portal for traders that exists for more than 10 years. It is one of the quality places where customers willing to learn more about forex usually get some relevant info about trading. The website provides educational content that helps people to become more profitable and to achieve a good starting point. Also, it is a community of traders that support each other and post various useful information on a daily basis.
There are various sections on Baby pips website that allow to easily navigate in the desired divisions. There are already many articles, threads, and other materials located so it is definitely a good idea to give some hints about each section and the most beneficial parts of the project.
Features of Babypips
The navigation panel of the website is structured as a bar with tabs at the top so users can easily find the divisions they are most interested in. There are News, Trading, Education, Forums, Calendar, Tools, and new MarketMilk sections.
The first tab of Babypips is related to the forex news where there are posted various charts and events. The content writers there usually put their reviews about the current situation on various currency pairs. They also use different indicators to see if the asset is overbought or oversold.
There are also often met the actual support and resistance levels and potential reversal points according to Fibonacci retracements or other similar tools. Also, there are posted macro views for the people who are involved in investing rather than day trading or scalping.
This section is not really a news calendar like Forex Factory or Myfxbook have, but more like a brief overview of important events for the day. For the traders that want to see a full list of planned news, macroeconomic releases, and more it is better to use the mentioned above websites.
This tab is more interesting to the ones who want to know more about trading itself. There exist some subcategories that allow getting the wanted content that is renewed on a daily basis.
Trade ideas. This division could be described as signals mainly. The content writers of Babypips post there some setups that might work out during the day. They use in their research various indicators and trading patterns, draw trendlines, support and resistance, and other tools.
The ideas are monitored on midterm timeframes so there will be no rush if there is a goal to enter the trade according to the posted signal. As mentioned earlier, all the setups are posted for currency pairs, so unfortunately there is no chance to get it for indices, commodities, or other asset types.
Technical Analysis. This category is very similar to the previous one and there is even no difference between them so it’s hard to define what was the purpose of that split. There are also posted the potential trade signals with used channels, chart patterns, and tools so it is possible to get some ideas for entries.
Psychology. This subtab is very important as it gives some hints about the personality, mindset, and other aspects that are highly valuable because when it comes to real money, it is hard to trade according to the trading strategy and to follow risk management properly.
There are written hundreds of books and thousands of articles about psychological points though there is a very low percentage of people who have an iron will to follow the rules.
In this tab, there are given advice about mindset, worries handling, managing expectations, positive approaches, and more. Even experienced traders might find something useful that will help them to improve their trading routine.
Trading systems. One of the most valuable sections of the website is the one about trading systems. It’s vital because you will never succeed in trading without having a proper strategy. It’s a one-way trip to put real money into something if it’s not proven.
There are explained various trading approaches that might suit a certain person’s personality and for various timeframes. Some prefer long-term investing, while others try to earn in day trading or scalping. There are systems based on indicators, chart patterns, and other techniques. We are reminding you that we also have a very good section about forex trading strategies that will be very beneficial for those who want to find a suitable approach.
Being a website mostly for beginners in trading, Babypips has implemented an education section that will be very helpful. It is divided into 3 subcategories:
- How to Trade Forex
- Trading Quizzes
- Forex glossary
How to Trade Forex is a real online course about trading. There are various lessons about what is a forex, which types of assets are tradeable, which trading platforms exist, how to choose a broker and many more. There are also several lessons and most popular indicators like RSI, Stochastic, Bollinger Bands, that are commonly used in trading.
After signup, it’s possible to track the educational progress and finally to get some kind of a certificate, i.e. graduation. For those who want to achieve the basic knowledge about forex trading in one place, this section of Babypips is a good choice.
Trading Quizzes is another tab that is an entertaining approach to test the obtained skills and facts about trading. There are various questionnaires about currency nicknames, chart patterns, tools, styles of trading, and many more.
It’s applicable for both novice and more experienced traders because there exist quizzes about multiple timeframe analysis, trading journals, a market sentiment that are used by the professionals in the industry.
Forex glossary is a vocabulary of words related to trading. So everyone may know from there what is Bid, Ask, Pip, Candlestick, Order, etc. It’s handy because it is hard to learn from scratch what does each name means and this subtab may certainly help to do it.
The current division consists of various forum threads divided into categories. It’s useful because customers can post their questions or interesting ideas in the proper place. The subcategories are:
- Beginner questions
- Trading discussion
- Trading systems
- Broker discussion
- Trading Tech and Tools
- Bitcoin Talk and Cryptocurrencies
- Global Markets
- Commercial Content
- The Lobby
Each of the divisions’ list already has plenty of topics with useful information so every person might find something useful starting from the basic question and up to some strategy related topic.
The valuable part of each forex trading portal is a calendar. It is handy because users can get information about upcoming events in one place. Websites like Forex Factory and Myfxbook also have these calendars and they are also available in the form of widgets.
On Babypips there are various filters available for the calendar. They can be sorted by 1 day (yesterday, today, tomorrow) and by weeks (last week, current week, next week). It is useful if you want to monitor not only actual news but to overview old ones, or to plan to trade for next week.
Among the columns, there are the time, influenced currency, impact score, forecast, previous and actual values. The calendar is very user-friendly and the events could be sorted also by any of the mentioned values.
This category is self-explanatory. There are located various trading tools that might be helpful in the daily routine for both novice and professional traders. It is very helpful because it can lessen the time spent on operations that are calculated manually though several tools might automate it.
Pip Value calculator helps to define the value per pip in the currency of the opened account with the particular broker, so it will be easier to manage risk per trade. It is required to put in the currency that the account is denominated in, the currency pair, position size, so eventually the pip value will be calculated.
Or the position size calculator that can help to find the potential amount of currency units that might be entered to keep under control the maximum risk per single position.
There should be entered the currency pair, the account size, and the percentage at risk. Afterwards, the sizing calculator will suggest the position sizes according to the provided information.
The last feature-rich option is the section called MarketMilk. It shows several criteria for major currency pairs:
An entertaining interface allows getting all the main information about the key aspects of the assets that might be very useful in the daily trading routine. More proficient traders may even base trading strategies using these indications and get certainly good results.