Hello and welcome. So, you want to learn how to trade. To be honest, I have no idea if you can find the right website. But I will do my best to show you every thing I have learned that I believe to be of value.
Also, anything I write here is my opinion. This is not financial advice. I can not and will not be held responsible for any of your actions.
What is Trading?
Trading is basically buying and selling goods on markets.
Why do people trade?
To make money or accumulate more assets they wish to hold
How can you make money in trading?
There are numerous ways to make money in trading. The most basic way is buying and selling for a profit. (The classic buy low sell high). There are other ways to make money as well. I will stick to this for right now, as this is what I am doing.
What should I do first?
Do not make any live trades. Learn a strategy that works for you and then apply it. This is called paper trading. Most people get in, bet it all something and walk away empty-handed, never to trade again. Trading is not gambling. There is a big difference. It’s the same as “My friend has a good stock or crypto to buy, should I buy it?” If you have to ask yourself that question, then that is an automatic NO.
What is Paper Trading?
Paper trading is making trades with a demo account, or even keeping track of it in a spreadsheet.
Why Paper Trade?
Paper trading will help you sharpen your skills in trading. When to enter and when to exit. Why did you enter that trade? What did you see that told you,”Yes this is a good time to get in”? When you record all your trade information, it will become your diary. Then you can go back and see what worked and what didn’t. Learn why it worked and why it didn’t and make adjustments from there. This also helps to take the emotion out of trading. When you enter a trade blindly, you will get very scared. Fear of losing your money. Paper trade until you are not second guessing yourself and have no emotion attached to it.
When I am ready should I borrow money to trade?
NO. During the time you are paper trading, start saving up. The more capital you have, the more you can make per trade. Put aside some money you are willing to lose. That helps to take the emotion out of things as well.
How much do I need to start with trading?
You can start as little as $100. Now with little capital equals little gains. I suggest to start with $500 or even $1000. If you have more then great.
OK Im ready to start learning. What do I do first?
I suggest you create an account on TradingView. Scroll down a bit and create a free basic account first. Once that is done, then go to How to use Trading View on how to set it up.