Bitcoin Forum

Hello , i want to become a trader but iam a total begginer , i tried watching some guides on youtube but they seem complicated with the graphs , markers , buy long sell short etc , is there a begginer friendly guide you guys can recommend to a newbie? i really want to get out of my parents house lol , help will be appreciated.

You should try and check out this  trading discussion board  (https://bitcointalk.org/index.php?board=8.0)

You will really need a lot of classes and paying attention before you can be able to start making earnings, which can take you off from your parent house.
 
Just take your time, don’t rush, and I will advise that when you are ready to start, you should start by learning with brokers that will offer you demo accounts to practice with in order for you not to burn out your capital before you even get started.

Move topic to trading discussion board. Trading is not easy and if you plan on moving out of your parents house in the next 6 months with the profits you made off of trading, then I will advise you to find another things to do because it is not going to be possible for a complete noob like you. Do not take this as a discouragement but look at it realistically, it will take time say a year or two before you make any actually profit from trading. You have to begin from learning about trading fundamentals and a simple google search or even YouTube can help you out. The fundamentals will slowly introduce you to the seemingly complicated stuff.

You can try to check out the curated resources from: https://github.com/SpiralDevelopment/Awesome-Crypto-Trading

I do agree with the posters above though. It's important to know trading ain't a get rich quick. In fact, it can be very risky esp if you're new and still trying to grasp things, even experienced traders suffer from loss as well hence the importance of risk management. There's always a chance of getting burned which would further hamper you from your goal esp if you're in a hurry.

It can indeed be overwhelming at first with all the jargon and complex charts. Learn the basic trading concepts. Understand how pairs like BTC/USD or ETH/BTC work. Learn about market orders, limit orders, and stop orders and the candlestick charts that show price movements over time. Look for patterns and trends. Many trading platforms offer demo accounts where you can practice trading without risking real money, this is a great way to get comfortable with the mechanics of trading.

Trading is a skill that takes time to develop, so be patient with yourself. Good luck, and happy trading!

I'm not discounting what great traders can do, but as far as my personal experience and the experiences of the people I know are concerned, trading will bring somebody staying away from his/her parents home. To somebody staying with his/her parents, trading would make that stay even longer, indefinitely. LOL!

Anyway, know how to read graphs, study trading patterns, master charting, try demo trading accounts to make you feel how it is in reality, and so on. But know that timing the market isn't easy. If you think that trading will give you independence, I'm afraid you'll be challenged.

Okay. So you live with your parents and you want to trade to leave home. So you must have very little capital. I regret to inform you that what will happen is that you will lose the little capital you have. You will probably start with a demo account and get excited but when you start with real money as you will need too high returns to get what you want you will lose the little you have. And don't even think about adding leverage, otherwise you will be wiped out even faster.


The OP better get a real job.

Trading isn't some one-time thing that you do after watching some guides and tutorials and start earning money from it, it's a continuous process that keeps changing over time and you need knowledge for it, and not just information.  :)
The point is, you can't become a full-fledged trader from being a complete beginner in a short time and hope that you will earn a lot of money from it unless you are lucky and you make an investment in a shit coin. It skyrockets, but that doesn't happen to everyone, so don't waste your money that way.


Things are not as easy as you may think they are. Even if you manage to get out of your parent's house, you won't be able to manage everything on your own as long as you don't have a stable source of income. Trading can't be a stable source of income for everyone, not until they master it and have a large capital to throw at it and can afford the losses.

So, before you make a decision and regret it later, think it through, and do that after doing some research about trading in general and cryptocurrencies, their market behaviors, profit and loss scenarios, and anything else that may matter.

Everyone always seeking quick profit and think crypto is the way out, i like the way you have replied him and made it known to him that this is not something you expect easy returns from and trying to ignore the risk brain in trading will never end well especially for a beginner who barely knows much.

Trading is not a very easy thing i will advise a newbie to start, firstly there is a lot to learn which could take months so there is no rushing things else you may end up losing so much and setting a time frame for yourself is good but not in the case of trading, newbies should rather try out investing while learning the trading fundamentals.

You go to the trading discussion board of this forum, you will get all the answers you need there. All kinds of trading related talks are there, you can go there and freely tell everyone about your problems, then everyone will try to help you properly.

So, how will you feel if you get losses instead and you become unable to leave your parent's house, will you get discouraged to continue with your trades? It is good that you are already making efforts to learn trading better but I just want you to expect anything from trading. Profits may come in immediately and they may not come in immediately. You need to be patient so you don't spoil your trades in a haste. I just hope you learn about all these when you finally get a complete guide on how to trade.

For now, pay attention to the trading board of this forum where you learn from the experiences of professional traders in the forum. Ask questions where neccessary. Get a job while you learn so you'll be able to sustain yourself when you eventually start trading.

Try to learn trading terminologies first. Don't create trading account first on any platform mentioned or being recommended from the articles you are reading. Try to learn them first. Also, are you in legal age already with IDs (Driver, Passport, National) because this documents are required for you to open an account.
There are demo accounts available online on how to trade so you can try it after learning on the terminologies, and basic trading.

If you have particular questions about trading, go to trading dicussion as recommended above for you to get answers.

[1] https://www.investopedia.com/articles/trading/06/daytradingretail.asp
[2] https://www.ig.com/en/cryptocurrency-trading/how-to-trade-cryptocurrency

Usually, I don’t get in the way of this kind of post because, it’s only natural that people come in here from time to time and would see a need to be shown a path.
While I might take concern on this one is because, there isn’t any particular need to create this thread, given that there are a couple of them, about 3 by my count, right on this first page of the B&H board as it is.

What stops you from opening either of them and just run through what is already provided there… it doesn’t make a lot of sense, creating a new thread just to say the same regular thing like, am new here. That’s not how we roll here.

Since you are a beginner in trading then you should study more first before you actually start trading. Trading discussion board would help you learn more about trading. Trading isn't easy that's why you have to learn first. There's also trading terms that you need to learn and there are demo trading that you can use if you know what I mean or you may have seen from an video ads. You should get a job and you should have more than one source of income.

As a beginner, wanting to become a trader is risky. You will have risk of loss of your capital by trading. You need to learn about Bitcoin, blockchain, basics of wallets, storage, transactions to avoid losing your bitcoin by inappropriate storage, transactions.

Then you can continue with investment, not with trading because as said, trading contains bigger risk than investment.

How to invest in Bitcoin?
There are many methods but DCA is good to use for newbies.
https://dcabtc.com/
Work, get money, use it to DCA bitcoin with time.

Any wish can be fulfilled, but you, OP, as you can easily guess, are in a hurry. I am not a trader; I will not dissuade you or, on the contrary, agitate you, but I will simply say that if you cannot step by step learn all the incomprehensible words that people talk about on YouTube, then you have not yet lifted a finger to do something yourself. I only know that trading is not for weaklings, so be prepared for mistakes, on which your experience will be built or not. Collect as much information as possible, do not rush, be consistent in your learning, and, of course, start working in such a way as not to spend your parents' money. In addition, be grateful to them, since it is obvious that you do not have free money, but you still hope to get it from somewhere (probably your parents)

I don't want to discourage the OP, but cryptocurrency trading is one of the most risky, and it may take years to get good at it (if it ever happens at all). Some research shows that only about 5% of those who do it have any significant profit, all the others lose money or give up after a while.

Neither is Bitcoin magic money, nor does money grow on trees, so I recommend the OP to think carefully about whether he sees his future in crypto trading.

If you really want to move out from your parents house, get a real job that will pay you regularly, and make trading as your side hustle. That way, even if your trading activity fails, at least you still have your constant income coming from your job.

Learning trading may take some time, and it would take a year or two before you can be a profitable one. For now,  DYOR is the key, and learn from the experiences of early traders. That will help you to clearly understand the real concept of trading, and how to take advantage on it.

There are many ways to learn trading basics. I want to give you some links so that you can read and learn.
1. Investopedia - Trading (https://www.investopedia.com/articles/trading/05/011705.asp)
2. Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond (https://www.amazon.com/Cryptoassets-Innovative-Investors-Guide-Bitcoin/dp/1260026671)

You can read this book for better understand.
Thank you.

If getting out of your parents house is the reason you want to learn trading, I am afraid,  it might not work well as you planned.  You first need to get a job or offer a service that will be bringing a steady income, then you will continue with your trading journey.  You need to learn very well before starting to trade with real money. You also don't  go borrow one time money from parents and believe you will multiply it through trading. Trading isn't a guaranteed money doubling scheme. It will be fine if you make it passive way of earning.

You can also visit a  board  (https://bitcointalk.org/index.php?board=8.0) dedicated to trading, there you can read posts and articles about trading.

The best beginner advice or guide that we can tell you is to become a holder. You're still a trader though, but you need to be more patient than a typical trader because it's about how long you're about to hold.

Start looking for a real job if you want to be an independent person. That's how it starts if you want to get out of your parent's house and be reliant on yourself. It takes time to be a profitable trader and it just sounds good upon hearing that it is your occupation but the reality is that many are losing being a day trader.

You have been given some list of links you can go through maybe you’ll not be confused when you watch them. As a beginner, getting confused is bound to happen. You might not get it the first time but when you try again and again, you’ll get to be understanding them gradually. Those complicated stuffs looks like that to you because you’ve gone deeper into where you shouldn’t have as a beginner until you’ve learnt the basics very well. As you’re planning to make something big out of trading, it will be better to see it as a part time work and not a full time one. The market is very volatile, no matter how good you are, you’ll incur profits and losses in the market.

You will certainly find it complicated watching those trading graphs and all its stuffs when you don’t have clear understanding what trading is all about and how to make a successful trading in the market. With that, you need to focus first on studying about trading and read as much as possible until you will start to perceive the real concept and perspective in trading. Reading the forum’s trading discussion board will help a lot, don’t ask yet but take time to read and do some researches about trading first, and when you still find it hard to understand the concept of trading, that’s the time you will ask help from your co-members in the forum.

Like seriously? You want to get out of your parents house and trading is what you could think of? This is never the solution to your problem. In fact, it will add a new problem to you as you'll become depressed and helpless. Don't be deceived by what you are seeing online, it's a trap to lure you. Moreover, some of them are using that to generate traffic and make extra money online.

The first step to become unsuccessful in trading is venturing in with the intention of making money. Quite alright, trading is all about making profits but as a beginner that's the least thing to think of. You should first of all dedicate your time to learn and master the key aspects before thinking of achieving whatever aim you have. You can not set target for what you have no idea of how it works.

Bro, trading is not something to learn quickly, to be an experienced trader you need to learn something, learn every aspect of trading very well, and it will take you at least 6-8 months to learn everything well. So don't rush, take some time, trading is not a thing to rush, here you have to learn everything well, learn everything about risk management well and always be cautious about risk. And never trade with emotion. Also there are many more important things, which you need to learn 100% thoroughly, and it takes a lot of time. And you should only trade with the money you can afford to lose, because trading will never always give you profit, even those who are trading experts, they also lose money after trade. So be careful what you do. Best wishes to you.

It seems you question is ideal with the Trading discussion thread (https://bitcointalk.org/index.php?board=8.0), people discuss here what are the trends, market situation and other signals could be helpful to your trading journey. Well if you really want to get out or live to your own having a job is suitable you cant make a trading journey without having a capital at all you must need at least money to cater this path, again as you we're saying you are a beginner there's a chances that you will lose up your trade and you don't want to ask money to your parents don't you?. Its okay to have a source of income and make trading as your part time once you are now confident I guess that's the time you will go for a full time trader to satisfy your needs.

OP you want to become a trader and you and I know that every new thing in life is never easy to learn too fast (depending on the individual), now you talking about trading or investment they all has to do with the involvement of money, you need to be ready to get to that path where you would be the one to decide for yourself and from the looks of things I think you have not made any move neither are you ready to get started and for ones don't see your self as a newbie when it comes to something you want to engage in, you're a newbie base on ranking on the Forum.
I'd say you keep watching those YouTube videos it will expand you knowledge, while you still seek for advise from members you think can help out on the Forum, the major thing is having that focus on what you want to do as long as it makes you happy and when you put that idea of you wanting to learn trading so that you can leave your parents house, I'll tell you for free that you might make some mistakes because you are only doing it for the sake of leaving the house to stay on your own, just take it as something you need to do to achieve greatness not that you doing it to run away, that aim isn't healthy to me, do whatever you want to do for you.

We make mistakes and the wise ones learn from them while those that are recalcitrant or too ignorant to accept their mistakes continue making more and more, leading to losses. Complicated videos are the ones available on YouTube. It's very necessary to learn the basis of trading before diving all in because it's been really a hectic day for the newbies that refused to learn. They've lose some substantial amounts while others have liquidated their trading accounts.

Exactly you are absolutely correct, the topic is  some worth off topic it should be best discussed in the trading session. However, trading can be very complex even to experienced ones let alone a beginner, op might just be making a very big mistake by thinking he can get such a quick money from trading at easy perhaps watching YouTube videos isn't enough because there are influencer who makes trading to look like an easy way to make quick money which can be very deceitful, I will advise him to look out for other means of income and start building a portfolio in Bitcoin through the DCA strategy in order for him to understand the market dynamics properly.

I think for better visibility and appropriate response you should move this thread to the trading discussion as you’ll get people with like minds and adequate knowledge to respond to your quest.
Another things is that you shouldn’t jump into depositing money and you just start with a demo account and try getting used to the broker before trying to make any deposit and also remember to trade only amount you can afford to lose and also try to make your risk with the help of the stop loss and take profit tools and they will help you maximize profits  and minimize losses

Know that there are no shortcuts to trading. You may find it hard and difficult to learn trading these days but with constant reading and learning from different youtube videos, and of course learning from the experiences of reputable traders here in the forum, you will it easier to trade later on, and never expect that you will make consistent profits with trading, but you can always maximize your trading profits more than your losses, that is if you chose to learn trading the hard way.

Completely agree.

Don't want to discourage to OP, but still don't just become victim of influencers.

Trading is not that much hard that anyone can become expert, it takes time. This is not get rich quick schemes.

And as I said anyone can become expert but it needs more practice, analysis, monitoring and many more things in discipline.

Due to digital marketing strategies more new users are getting start but failed to reach to goal and get lost due to greed and fear.

And to get over greed and fear anyone needs proper knowledge, information and most important intelligence.

Hope OP got my point.

First off what's your drive for wanting to become a trader, are you willing to have this done in the long term?, are you aware it's not a get rich quick scheme? And are you willing to accept the challenges that comes with trading?. If you are able to provide answers to all of these questions and you still want to go into trading, on this forum we have the trading board where you can visit to get insights on how to become a trader and if you still want to further, there are sites that will help but it's a gradual process and not one that you will have to rush. I recommend crypto exchanges that offer educational facilities and then the videos on YouTube, make sure to stick to one or max two persons and with time you will get to understand them and know what to do better.

Welcome aboard! Well, trading is a vast knowledge you need to absorb from defining terms to technical analysis which is more complicated. In youtube you can of course search videos with "for beginners" keyword so videos will get sorted out for what you need. Its the same on google e.g. "learn crypto trading for beginners" just like that.

I guess the right board for this thread is the  Trading discussion  (https://bitcointalk.org/index.php?board=8.0) board. And as a newbie it will do you more good if you buy Bitcoin and HODl for long than trade, because many people I know of that trade never get a better result there off. Although most people do trade and makes some money  but it is not encourageable because it's like gambling where you win little and lose more. But if you insist on trading well you can learn more about trading in the trading section.

If only the OP of this thread would come back and follow up on the suggestions that were made available, the purpose of the thread could have at least gone a step towards helping him realise the dangers of trading. 
 
Since he starts by asking questions, I believe if he pays attention and follows the right path, it will help him gather all the information he needs to help him establish a minimum risk tolerance for trading. Most newbie traders don't even undergo any form of training, which is part of the reason that contributes to their massive losses in trading.

I think going to the trading discussion board is the best way to learn more about trading, trading is not that easy and that is why I don’t mind doing it, before starting trading you have to understand it very well and be patient to the stage that you will understand everything, trading is good for who knows how to trade and earn a lot of profit but you have to learn more about it and understand some risks about it because everything have advantages and disadvantages, I have seen a place where some is making a lot of profit in trading, asking about how to trade in this board is not going to give a good or legit answer but going trading discussion board will help you and understand more about trading. I have a question to ask, why do people always like trading this day? I have been seeing many people now what to learn about trading? I also have friends that are doing trading and some want to learn how to trade also.

What I would tell you is that, Bitcoin isn’t going to solve all your problems, not like you had some anyway, I mean, how could I tell but, not knowing and to know could be a problem. Just in case you had the brightest idea that Bitcoin would solve all your problems, don’t grow on that. Perish it for better safe zones and investment techniques.
I’m all, welcome to the forum and do your best to blend in and be one with it. It would do you a lot of good through your stay.

There is no rush here.  If you do something in haste, you will not be successful in it.  You learn better from training mode.  You can lose your money if you try to trade before learning.  Get expert opinion from trading board. From demo accounts you take training and then go to trading.

sounds true It will take time at least some years to get used to it, take courses, trade with small amounts regularly, allow bit fun during the ride

To be a good trader you need to do research and prepare yourself according to the advice of expert investors. You should initially choose the currency and buy a minimum amount to get a good idea of ​​the market situation because when you have your own investment it will be easier to do your research and you will understand when you should invest and when you should withdraw.

To be a good trader you need to be proficient in all aspects of trading. You have to look at the profit side of trading as well as the side of trading loss. Learn to manage risk well. And you have to trade with what you can lose.

as a beginner in cryptocurrency I don't think that you should use a trading to start your journey of cryptocurrency because the thing is that you have to undergo different training before you can be able to know how to trade Bitcoin even other cryptocurrencies, I believe that you need to understand the things that is necessary for cryptocurrency and also understand the basic things that they have to do with the trading skill before you come assure yourself prosper in Trading many people today have dropped trading because they fall to understand the procedures so if you want to be at the safer side you have to devote time to learn the skill very well

First of all I want to know why you want to come out from your parents? Do you want to leave your parents? If so then I say you will never be good at anything, you will never be good at anything because a person can never do anything good by hurting his parents. If you want to do business, you have to work hard. Doing business is not easy. It's very difficult. Especially if you want to trade you need to acquire a lot of skills so learn first then think about trading. I have been connected with the forum for many years till now I could not get a good idea about trading sometimes I lost more than I gained in trading platform.

Trading is never an easy job but always a tough one. That's why newbies without sufficient knowledge and exposure to the trading market should never engage himself into trading just because of greed or personal reasons, otherwise he will only lose most often in the process. Instead, he should seek more knowledge and understanding first on how trading and its market works. Learn from the experience of old traders, as even old traders still never perfect their trades and would still end up losing in some of their trades.

Does it mean that an adult who decides to stay on his own to take care of his responsibilities other than staying under the roof of his parents is hurting them? I think you are getting it all wrong because leaving your parents house to hustle and their care of your bills will help you not to be so dependent on your parents. Anyone can succeed be away from the parents and it is advisable for any man to go out their and hustle so that he or she can take good care of his parents when they are aged .

Trading is not a bad idea but it becomes very bad to a beginner with zero trading knowledge, I think the op should go and learn from a successful trader then get knowledge before thinking about starting of trading.

You have an aim, but you can’t start trading and get rich as you expect in the short term, and also, a beginner who wants to join trading will find it very difficult because trading is not as you think it is. You can be viewing the positive aspect of trading, but it is the negative way that most people are not talking about it. That is why a lot of newbies will start with passion, but at the end of the day you will see them leave the trading space because they have a lot of losses, and it is because you think the same way about them. When you want to join trading, put it in your mind that you need to be focused on research and also know well that you might be losing. But it is not all the time that you will be the one gaining profit, so all I want you to understand is that you should not put it in mind that you want to start trading just to leave your parents. 

I’m not a traders and I never go any of friends to ask how the trading operates, but with the little knowledge I have had about the trading I will never advise anyone to introduce himself into trading, especially the newbie’s that all they is to just earning money only instead of wait for them achieve much knowledge and experience about the trading and also the risks that are involved.

But they will never after leaning and they want to become like the others how is going to possible, because a person can know go for exam hall without prepared for what is going write in exam he most prepared even is a little to avoid failure; So Mate the same thing with trading anyone who’s willing to win in trading most have to seek for knowledge.

I believe when it comes to trading, we should learn directly from someone, it could be friend or anyone who would act like some kind of coach to minimalize the mistake that we would make or the loss that might happen. We could have more than one of them, having various point of views and advice would help a lot in our journey to learn something. I'm not really into trading, but I use this method in learning about investment.

Even if we look into famous rich people, they always have someone as a coach to advise them.

From what I am thinking, to become a good trader you need to have someone that is an expert so that he can teach you step my step. If there is no one to teach you how to trade you will make enough of loss. But when you have an experience trader that will show you good strategy on how to trade successfully you won't lose compare to when you are just starting trading alone without any assistance. Trading if for people that are ready to lose their money because from what I have read about trading it is 50 50 thing, and that means the trader is not sure if he is going to profit from the trading or not.

Don't rush into YouTube trading videos but do the reading first so you can slowly grasp how trading works in the market. Read some of the articles that comes with trading basics and know when to trade or not. That way, you will already gained some basic ideas that will help you understand how trading works and how it will create an edge on the market. When you resort into watching trading videos, you will know already why one needs to do that or do this just to secure a successful trade.

i suggest you to enroll in a trading class. having a mentor is the best way to start if you have little to no knowledge about it. you can ask questions and really get to know and learn a lot. before trading i also advise you to try trading with dummy crypto trading accounts first. that way, you could avoid the possibility of losing a lot. if you dont have the capital to enroll in a, all i can suggest is do your own research. read watch and learn from blogs or videos in youtube.