Need help trading.

[Essential10]

As a student, I've saved up to $500 and am now looking for a means to get into trading. I understand that $500 is not a good starting point for some traders, but I want to use it throughout my learning process. The problem currently is that I don't even know where to begin when learning how to trade.

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

$500 is a good amount to start with. You are going to trade because you want to grow your funds quickly. It is very risky to raise money by trading in early stages, where you can lose your money very quickly. But you can certainly earn money by trading, but in that case you must have a basic understanding of the market, you have to get a lot of knowledge about the market, you have to master the dynamics of the market. Even if you have an idea in the initial stage, you cannot easily earn money by trading, so you need to have a lot of time and patience. Always trade with the money you keep as spare.

[1714542504]

1714542504

[1714542504]

1714542504

[Fivestar4everMVP]

Another user already recommended Binance academy, I was going to recommend that and also provide a link to it,, but all that have been done by other users.

So, what I have to add is that, $500 is actually too much money to start learning how to trade with, as a beginner, you stand a chance of losing most of your trade and I believe you (@op) don't wanna watch your $500 get drained in the process of learning to trade, I will advice you start learning how to trade with nothing more then $20 to $50 dollars, and as well, look for an exchange that have a demo account ability of feature, start trading On a demo account first, demo account simply means that money used to trade there is not real money, you can learn with that and get perfect at trading before actually investing real money into trading.

Trading is highly risky, always remember this and arm yourself well enough with good trading knowledge, to minimize your chances of loses.

[Stable090]

Before you invest in trading, invest in yourself first.

I don’t understand, did the OP say he isn’t investing in himself, and I don’t really understand what you mean by invest in yourself? I will like if you can explain the statement better, because the OP never complained that he isn’t doing fine.

Trading has certainly its own process and learning it may take months or even a year before you can say you can be a good trader.

When you are learning how to trade, it’s not something you can learn within a specific period of time, your determination will show if you will be able to learn fast, and trading is not what you read books and you will think you know everything about it already, trading requires constant practicing, and you will always upgrade your trading strategy as a trader, so if you are a trader, then you will never stop learning.

[goldkingcoiner]

As a student, I've saved up to $500 and am now looking for a means to get into trading. I understand that $500 is not a good starting point for some traders, but I want to use it throughout my learning process. The problem currently is that I don't even know where to begin when learning how to trade.

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

Do not use real money when starting trading because you will definitely lose it. I recommend using a testnet (Deribit testnet for futures/options, for example).

The best strategy right now is to DCA and hodl. Everything else makes no sense during a bull run.

There are plenty of places that teach technical and fundamental analysis but the only way you will really understand is by learning by doing. (just use test money)

[Oneandpure]

Firs I am so excited with OP have over $500 capital for trading as a student and I think is very large amount using for trading in cryptocurrency, but most of exchange for trading place requirement with KYC you need prepare your document ID and difficult for student have the ID before raising up to 18 years old. Its not problem you can use your parent ID and verifying using their document for trading in exchange, I think not good ideas when trading using the other people recommended or joining with their signal group. Make your own research when trading in cryptocurrency because most of signal in trading is not worth to buy with their coins recommended have raise much higher price.
Normally as the beginner always need guider but find the right people can educate your self in trading and not try to follow other signal when buying some coins, research by your self is very important thing in trading and checking with some coins have much transaction volume for trading.

[Franctoshi]

As a student, I've saved up to $500 and am now looking for a means to get into trading. I understand that $500 is not a good starting point for some traders, but I want to use it throughout my learning process. The problem currently is that I don't even know where to begin when learning how to trade.

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

We have a Demo account for practicing and this is the first step for every beginner trader to start with, learn the basics of candle sticks, bull and beer candles, where the market opens and closes, these are a few things you should know in the first stage of your learning, I wouldn't advise you to throw in the $500 into the market right now, it will be nice if you invest it in Bitcoin while you learn because you are lucky we are currently in a bull market where you chances of having the increased.

[EarnOnVictor]

Do you want to learn or want a trading signal? You need to decide about it and stop believing that one signal can help you. If those who are offering you signals did not learn, will they know how to issue the signals? And of course, the $500 capital is very good for starting and learning, but I must warn you, you may lose it all if you are learning. This is why I recommend a demo account for you since you are just starting. And if you would start the live trading/training, use a very low risk and do not think of the money at first.

Aside from that, you must know that the journey to attain trading expertise is not what anyone can predetermine, all you need to do is focus on learning, and if you get to the level of professionalism, you will know by yourself without anyone telling you, as it varies from people to people. Because the time people have for the training, their dedication to it and the source of learning matters a lot. The ability of the person to rightly use what he learned even matters most, so no one can predict the actual or average time you can become an expert in trading.

However, about the link, I am not a new trader, it has been a long time since I learned and most of the important sites I learned about trading are no more functioning. This is a pity because they are full of the most useful training tools unlike what we see these days. Well, in the absence of none, you can use and search;

1. https://www.babypips.com/
2. Search some keywords you want with investopedia.com

Man I didn't realise Babypips was still around. I remember being a regular there about 15 years ago. After browsing the forum for 2 years I come to the conclusion that 99% of people there never made any money trading forex. I think there is a higher percentage of people making money trading stock options than there is trading forex. Forex is extremely difficult and I don't know anyone personally that earns a living thru it.

Most people who do this professionally either stick with stocks or crypto. Crypto is much easier because at least now, you got transparency. You got volume, liquidation info, open interest, funding rate. None of these tools are present in the forex or stock market. You are at a huge disadvantage trading those markets. Crypto at least the field is more level for different types of traders.

Lol...the site still exists and I was surprised when it loaded among many websites I wanted to recommend for the OP. Well, about trading sectors, it is all about what we know and how we apply it, though you are right that people are losing through Forex trading, but the percentage is not as bad as you quoted it, the 99% is way too much. This is not peculiar to the Fx market too, even in the crypto market, people are losing, only that there are other opportunities for investment in cryptocurrency like buying and HODLing your coin in the wallet for it to yield for you without stress. Unlike in the Forex market that you can only trade it through platform trading which is the same as the futures trading in cryptocurrency. By that, we trade leveraged products, so the risk is high.

Also, 15 years is a long year, if you persisted, you would have understood the FX market better to be able to gain something from it. Generally, what people are mostly lacking in the financial market trading on leveraged products is proper trading psychology and management (risk and money). If one can possess the two and also have the needed trading strategy that can vouch for about 75% accuracy, success will be achieved. Even with 50% accuracy and using proper risk money and risk management, the trader can still be successful.

However, what is helping people in stock trading is that they can handle it similarly to cryptocurrency where one can buy and leave it for years. This trading/investment pattern is not just the same thing, and once it is a leveraged product, that means it is margin trading and the risk would be automatically be higher depending on the parameters set by the person.

[Viscore]

As a student, I've saved up to $500 and am now looking for a means to get into trading. I understand that $500 is not a good starting point for some traders, but I want to use it throughout my learning process. The problem currently is that I don't even know where to begin when learning how to trade.

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

Do not use real money when starting trading because you will definitely lose it. I recommend using a testnet (Deribit testnet for futures/options, for example).

The best strategy right now is to DCA and hodl. Everything else makes no sense during a bull run.

There are plenty of places that teach technical and fundamental analysis but the only way you will really understand is by learning by doing. (just use test money)

I don’t see a good reason why OP is rushing to trading when the market condition suggest us to buy and hold. This is not the best time to trade most especially if you are still a beginner in the field. Although it’s clear that you want to grow your money as fast as you can, but you know what, trading does not work that way. Experience takes a lot of time, but prior to that, gain first a vast of knowledge and technicalities in trading so that you will know how trading scenario works.

For now, focus on DCA and hodling your coins. This strategy is still best proven to be effective that will give you secured profits when bull run comes, as long as patience is present as well.

[freedomgo]

Another user already recommended Binance academy, I was going to recommend that and also provide a link to it,, but all that have been done by other users.

So, what I have to add is that, $500 is actually too much money to start learning how to trade with, as a beginner, you stand a chance of losing most of your trade and I believe you (@op) don't wanna watch your $500 get drained in the process of learning to trade, I will advice you start learning how to trade with nothing more then $20 to $50 dollars, and as well, look for an exchange that have a demo account ability of feature, start trading On a demo account first, demo account simply means that money used to trade there is not real money, you can learn with that and get perfect at trading before actually investing real money into trading.

Trading is highly risky, always remember this and arm yourself well enough with good trading knowledge, to minimize your chances of loses.

While trading can be highly risky for beginners, hence starting trading with just a small amount that you can afford to lose is highly advisable. Learning trading is never easy, yet with passion and patience to aid you in the process, that will make you less prone to losses. For now, I have to advise demo trading account is the key. Although the real live trading is still a lot different, but every trader started on a scratch should also begin with trading not having real funds.

[moneystery]

first you need to know which market you want to enter, whether you want to trade forex or crypto, then after you choose the market, then you can learn which broker/exchange you feel is the market for you and then learn how to open an account, adjust leverage, etc. then after that you can start learning analysis, whether technical or fundamental, you need to learn both, and then after you learn on a demo account and are proficient at it then you can open a real account and start trading with that money.

there is no need to be too hasty to immediately trade with that much money, because you are still a beginner and are very vulnerable to experiencing big losses if you immediately enter the market without any knowledge. just learn first then you can enter the market. hope you can understand it.

[shawonngp]

Firs I am so excited with OP have over $500 capital for trading as a student and I think is very large amount using for trading in cryptocurrency, but most of exchange for trading place requirement with KYC you need prepare your document ID and difficult for student have the ID before raising up to 18 years old. Its not problem you can use your parent ID and verifying using their document for trading in exchange, I think not good ideas when trading using the other people recommended or joining with their signal group. Make your own research when trading in cryptocurrency because most of signal in trading is not worth to buy with their coins recommended have raise much higher price.
Normally as the beginner always need guider but find the right people can educate your self in trading and not try to follow other signal when buying some coins, research by your self is very important thing in trading and checking with some coins have much transaction volume for trading.

KYC will not be a big deal because without KYC he can trade in the dex's and cex's although most of the cex's require to complete KYC to trade in their exchange. He can use MEXC for trading, if i am not wrong they still provide opportunity to trade without kyc. Also he can use his family members documents it's good idea. If he is noob in trading so it will wrong step if start trade by following signal.

[stadus]

As a student, I've saved up to $500 and am now looking for a means to get into trading. I understand that $500 is not a good starting point for some traders, but I want to use it throughout my learning process. The problem currently is that I don't even know where to begin when learning how to trade.

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

Do not use real money when starting trading because you will definitely lose it. I recommend using a testnet (Deribit testnet for futures/options, for example).

The best strategy right now is to DCA and hodl. Everything else makes no sense during a bull run.

There are plenty of places that teach technical and fundamental analysis but the only way you will really understand is by learning by doing. (just use test money)

Yes, trading is capable to give us quick profits but I also don’t think this is the best strategy right now, but most probably DCA and hodling knowing bitcoin halving and bull run are just around the corner. Instead of risking your money to lose in trading because that’s definitely what will happen to your trades, I suggest you focus more on buying and hodling bitcoin as bitcoin is heading to hit its new all time high after it has break its last ATH.

However, learning by doing is still the best way to learn trading. Experience should be your best teacher, but you should also learn to timing trading so that you can avoid huge losses in an instant.

[Bushdark]

This is a good idea. But first, you need to decide on a trading platform. I have good thoughts on techberry. The first thing that struck me was the ease of use of the platform. Even if you are new to the world of trading, you will easily understand the interface. In addition, they provide an extensive arsenal of educational materials that help you understand the basics of trading and develop as a trader. But the most important thing is reliability and safety. I am confident that my funds are securely protected thanks to advanced encryption technologies and information security.

As traders we need to determine what we are going to trade and how we are going to go about it. Trading is very difficult especially when making financial decisions. We need to make decisions for ourselves if we have to make money from the market because no one will keep telling us how much we have to leverage to trade in the market. We also have to determine the stop lose we are using so in case the market goes against us. We need to know what to do and how to go about decision making.

[goldkingcoiner]

As a student, I've saved up to $500 and am now looking for a means to get into trading. I understand that $500 is not a good starting point for some traders, but I want to use it throughout my learning process. The problem currently is that I don't even know where to begin when learning how to trade.

I'd appreciate it if you could provide me some helpful suggestions on where I should go to gain the expertise. I've seen several people professing to give good signals, and in the few months I've been here, I've learnt not to trust them because they could be scammers or don't know how to conduct decent analysis

Please let me know what you think a beginner should know and where they can receive the knowledge that will help them become an expert, as well as how long it will take me to get the hang of the complete trading technique. Links are greatly appreciated.

Do not use real money when starting trading because you will definitely lose it. I recommend using a testnet (Deribit testnet for futures/options, for example).

The best strategy right now is to DCA and hodl. Everything else makes no sense during a bull run.

There are plenty of places that teach technical and fundamental analysis but the only way you will really understand is by learning by doing. (just use test money)

Yes, trading is capable to give us quick profits but I also don’t think this is the best strategy right now, but most probably DCA and hodling knowing bitcoin halving and bull run are just around the corner. Instead of risking your money to lose in trading because that’s definitely what will happen to your trades, I suggest you focus more on buying and hodling bitcoin as bitcoin is heading to hit its new all time high after it has break its last ATH.

However, learning by doing is still the best way to learn trading. Experience should be your best teacher, but you should also learn to timing trading so that you can avoid huge losses in an instant.

That is exactly what I said, did you even read my text? Yes, hodling and DCA is the best way right now. In fact, I would even go as far as to say trading is very detrimental during a bull run or a bear run. And for those who do know what they are doing due to the fact that they are not expert traders, it would be better not to trade at all. At least not by using real money. Just sit tight and hodl. Distract yourself with something else if you have to.

[wxa7115]

Another user already recommended Binance academy, I was going to recommend that and also provide a link to it,, but all that have been done by other users.

So, what I have to add is that, $500 is actually too much money to start learning how to trade with, as a beginner, you stand a chance of losing most of your trade and I believe you (@op) don't wanna watch your $500 get drained in the process of learning to trade, I will advice you start learning how to trade with nothing more then $20 to $50 dollars, and as well, look for an exchange that have a demo account ability of feature, start trading On a demo account first, demo account simply means that money used to trade there is not real money, you can learn with that and get perfect at trading before actually investing real money into trading.

Trading is highly risky, always remember this and arm yourself well enough with good trading knowledge, to minimize your chances of loses.

While trading can be highly risky for beginners, hence starting trading with just a small amount that you can afford to lose is highly advisable. Learning trading is never easy, yet with passion and patience to aid you in the process, that will make you less prone to losses. For now, I have to advise demo trading account is the key. Although the real live trading is still a lot different, but every trader started on a scratch should also begin with trading not having real funds.

The biggest flaw of newbie traders is that they are not interested on learning, they want to obtain profits, but they do not want to take the necessary steps which could allow them to reach their goal.

So they try to skip as many steps as possible as to them those steps seem completely unnecessary, only once they keep losing money they will understand why we insisted they took a slow approach to the markets, but by the time they understand this lesson, they have lost so much money that many of them have no option but to give up on their dream to become traders.

[boty]

The biggest flaw of newbie traders is that they are not interested on learning, they want to obtain profits, but they do not want to take the necessary steps which could allow them to reach their goal.

So they try to skip as many steps as possible as to them those steps seem completely unnecessary, only once they keep losing money they will understand why we insisted they took a slow approach to the markets, but by the time they understand this lesson, they have lost so much money that many of them have no option but to give up on their dream to become traders.

Yes, every beginner who goes through this stage of course will not be able to make a profit from the trades they make and if they really want to make a profit from trading, of course they have to be able to learn well about trading so they can make a profit on the trades they make.

If they continue to trade without any knowledge about trading of course they will continue to lose their money on trading and very few can survive to trade without any knowledge and if they are aware of this of course they must have knowledge about trading then they can earn profit from the trades they make and those who cannot learn from the mistakes they make will of course stop trading at a loss.

[Octopus Trader]

If you lack experience in trading and don't trust signals, you can explore copy trading and, if interested, earn passive income by copying my trades.

For those interested, I'm leaving the link to the topic below.

https://bitcointalk.org/index.php?topic=5490627.msg63868185#msg63868185

[iamaruf]

As per my perception, it's not a small amount. I started crypto trading back in 2017, and the amount was less than $100. You should learn trading and don’t put all of your money on a coin. Try to spilt the money. And sell on a low margin; don’t wait for a long time or a big profit. There is a high risk. I am just suggesting you  DYOR

[Zanab247]

Crypto trading is a good skill newbies need to acquire to grow higher in financial aspect, and all you need to do right now is to suspend all those things that is not giving you chances to read some things that related to cryptocurrency.

You can read from here https://github.com/SpiralDevelopment/Awesome-Crypto-Trading to learn a lot of things that related to crypto trading, I believe you will achieve skills that will allow you to be bold to trade your coins by yourself because all the things you need to know about crypto trading are in this link.

I will advise you to achieve the knowledge first before you will use the $5k to test yourself, if what you learn from all those links can allow you trade without someone assist, before you can start using the $5k to  trade.

[jrrsparkles]

Starting trading in your beginning of crypto career is not recommended either, I would suggest you to buy Bitcoin for $500 and meanwhile start learning about trading on the YouTube like platforms and there are also trading courses available on Udemy which can give you brief knowledge but you will learn the real things when you actually starts doing it on your own.

Good luck...