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.