Could you guys tell me any precautions to take or anything like how much space will this use in my hdd and stuff as its my first time using this. Could you guys also give me steps on installing?
The kind of virtualization software i am looking for is something like a program that launches a window and inside that window, would be the os of my choice itself. And i can do things like watch youtube and use ubantu at the same time. Thank you
Get oracle virtualbox. It's free.
Follow the instructions
You need to have a bootable ISO file of the OS.
Ubuntu ISO file http://www.ubuntu.com/download/desktop
You need to specify the space the virtual machine will need. This will be stored in your C drive. You can use the Ethernet and can even copy files from the two operating systems
Another option is VMware. But I think it is a shareware(not free). I used it about 3 years back and I didn't like it.