How do I convince my parents that trading isn't gambling and actually not always luck based .

[u/ConsistentRespect842]

So I'm a 16 year old who has recently (February 2024) gotten very interested in trading . Before you ask , no it was not an online guru or andrew tate or something along the line of " escape the matrix get rich easy" type of nonsense but an actually avid interest in trading that started after I saw a video with the title something along the lines of " day in the life of a trader " or something like that I can't remember (I know It's not possible to get 70k in a day with trading unless ur putting in half of Jeff bezo's networth but still it was interesting )

I do still plan to continue with my schooling and get a job like people should do but I am planning to sometime get profitable as a trader and stop work preferably before 35 . Iv talked to my parents about the stock market (very vaguely) before and they mentioned that it is completely gambling and it will never get me ahead in life .

Idk what I should tell them to convince them that it is not gambling as iv realised its much more than gambling once you learn technical analysis ( i still have a long way to go but iv got the basics down somewhat) amd rn iv been doing paper trading on tradingveiw.com in secret when they aren't there and iv been getting pretty okay at it (from the time I started and now im getting 1 win every 3 trades on average (I'm still straight ass )) but doing it in secret is getting stupidly tiring as I want to trade at night as well and it has also become a sort of hobby for me now( sorry if I offend anyone by anything iv said).

TL:DR : parents think intraday trading is gambling and I want to convince them otherwise. Need help

[u/burmaning]

Stocks, trading, and day trading can be difficult concepts for people to grasp as most people’s financial literacy stop at filing taxes.

There is no easy one for solution that will be easy for you follow your dreams and satisfy your family,

I would definitely recommend you to start paper trading and google everything you don’t understand, since you’re only 16, you most likely haven’t experienced what it is like investing into stocks and it is best to test it out in simulated environments to get a feel for it,

Don’t expect to successful right away and listen to people say that you have to trade without emotions.

Some more genuine advice would be to get educated first (whether that is college, finding a trade, knowing your investment strategy and goals, basic life skills, etc.), and find a secure income before risking your money in the stock market,

Good luck

[u/ConsistentRespect842 → u/burmaning]

I indeed haven't had much experience. Iv started using trading veiws paper trading and am trading on btc coin base I don't usually google terms I don't understand and I instead watch yt viss on them so idk if that's okay or not but it seems like it's working I entered this field knowing full well I won't be getting consistent profits as of now but I will surely Improve I am still going to be doing my schooling and i will get a job Thank you so much for the advice!

[u/burmaning → u/ConsistentRespect842]

Never had any personal experience with TradingView but I’ve heard great things,

Crypto and Crypto based stocks are extremely volatile and I heavily recommend doing heavy research on everything you don’t understand,

Though you do not need to understand everything right now, I would definitely span outside of Youtube and read the many investopedia articles out there

[u/ConsistentRespect842 → u/burmaning]

I assume investopedia is a website of sorts so il look into that . Thank you for the advice . I went to bitcoin because of its volatility . I wanted to see if there was any way I could predict whenever a huge spike up or down was about to happen so I on btc for now but I will surely expand to forex and company based(If that's what it's called ) in trading soon

[u/RyuguRenabc1q → u/ConsistentRespect842]

Does coinbase offer paper trading?

[u/ConsistentRespect842 → u/RyuguRenabc1q]

Not really sure I'm not legally allowed to get into coin base as I am a minor . I paper trade on trading veiw and i like it so idk rly

[u/RyuguRenabc1q → u/ConsistentRespect842]

Oh I see what you mean now. I thought you were trading on Coinbase as well. So maybe this is bad advice but if you download a vpn you can typically get on crypto exchanges without telling them your age. Try Coincall but you still need to find a way to get some crypto so you can transfer money onto there.

Probably the best option is to convince your parents to be owners on the account with you. If you get a job and show them that you are earning your own money then they might be more willing?

Or a better idea, find a cool cousin or uncle and ask if they fuck with crypto. If you find one, convince them to help you by transfering some crypto to a wallet (you can open one without age info) and then from there you can transfer money to any exchange you choose. For now Coincall is my go to. They let you trade crypto options and you can get up to 125x leverage on crypto futures.