Hi everyone,
I am 22 years old, a girl and from Austria. Recently, I checked my Bitcoin Wallet in the Blockchain App to see how much money I have in there. I was very surprised that I have left 130$ in it. I checked how much money I put onto the wallet and how much I sent (it was around Winter 2019) and according to my math I shouldn’t have more than 16$ on this wallet. I never considered bitcoin as a way to earn or loose money, I just need it as a paying method on the internet. So the fact that my money has “increased” by 7x was the start of my research and as I read more about fx trading the more I was drawn to it. It`s so magic, risky and exciting. I hope it doesn’t destroy me, I have to be very careful. I am quiet young and inexperienced and there are so many people on the internet that are trying to screw you over or sell you courses that I thought it might be a good idea to join babypips.
Thanks for taking your time to read my introduction. Have a great day.
PS: I am so new to trading that I am even not confident in saying that the party in my bitcoin wallet was the result of the BTCUSD chart increasing over the last 2 years in general. But if so, good for me because I start to understand,
Hi and welcome in BP community start from the education section then use this knowledge on demo account. Try to find own path to success and be patient, good luck Regards Greg
Hi @TradingBird,
Welcome to Babypips. What a wonderful story. My wife had (has) an Austrian savings account ( Creditanstalt?) and has not checked on it since over 30 years we have been married. I doubt it has grown 7X, more likely it has disappeared.
What a lovely story, to come to trading by an accident of leaving some funds somewhere for 2 years. Like winning a mini-lottery.
You have definitely arrived at a place that is trustworthy in terms of community. If members ever see a hint of a scam, they are there ready to bury the perpetrator.
Once you get into the education section (School of Pipsology) ask questions on the forum for anything you don’t understand, but try a search engine first to avoid asking really basic questions.
There is no such thing as a stupid question, so don’t be afraid.
Oh, and about your funds. If you physically take out $16 and have a meal with it (to remember the event), you will know that everything you do with the remaining funds has not cost you anything. Like an inheritance.
Thank you for the well-considered welcome words! I am happy to be at a relatively save place to learn trading. Also, started the School of Pipsology, micht take a while to finish as there are so many new terms to learn.
I also like your view at remaining funds as inheritance. That’s exactly what it feels like.
Hey, glad that you made a good decision for yourself. You can read Forex Trading The Basics Explained in Simple Terms by Jim Brown to learn. YouTube videos are also a good source to learn.
Hi @TradingBird
It is worth remembering that holding BĂtcoin as a kind of pseudo commodity such as gold is not the same thing as trading currency pairs, where the gain/loss is based on the changing value of each currency in the pair relative to the value of the other currency. These changing values are expressed in the exchange rate between the two, which is what you are actually trading - i.e. whether the rate of exchange goes up or down and not the intrinsic value of one currency as with commodities.
Most forex traders trade in short time periods ranging from minutes to a few days. It is very challenging to achieve a consistent win rate in such time frames since currencies tend to be trading in an apparent random fashion for a large part of the time. Of course, there is nothing to stop you trading longer time frames but remember that your trading account is constantly marked to market price so whenever the rate goes against you your account balance will reduce accordingly - although it will increase again if and when the rate moves in your favour. But if it drops too low then your account is ended! This is why money management is such a big issue in trading.
But there is no reason why you shouldn’t succeed if you are careful, learn your lessons well, and don¨t take unnecessary risks or oversized positions!
It is also worth remembering that statistically, over 75% of retail traders lose money (the real figure is probably nearer 90%) so you need to be doing something different to the general crowd!!
I am quiet young and inexperienced and there are so many people on the internet that are trying to screw you over or sell you courses that I thought it might be a good idea to join babypips.
start from the 
Also, started the School of Pipsology, micht take a while to finish as there are so many new terms to learn.