What every beginner should learn and implement.....

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Trading is not easy. That is something that most of the brokers and vendors forget to tell you before you start. There is so much that needs to be learnt early to avoid the usual trial and error mistakes.

My personal advice is to start with the basics and to understand them completely

1. Psychology of Trading
Knowing how you will react to loss and gains is important because either event will impact your mental state. The two main culprits being Fear and Greed which can make you do things that you could regret later, such as ignoring a stop or not even taking a trade

2. Risk Management
To make money you first need to have money and that is what risk management teaches you. Protecting your capital should be your first concern when starting.

3. Technical Analysis
Technical analysis is our main tool as traders and a understanding of it and its basic principles will help any new trader.

4. Developing a Trading System
You simply must have a trading plan or system in place before start. It shows you what works and what doesn’t for yourself.

5. Traders Journal
Keeping a journal of all trades and personal trading notes helps to keep you sane in an environment that can make absolutely no sense

6. ............Please share your tip for newbs
 
I'm a beginner and have had these five points banged into me some many times and I have (tried) follow them, but guess what I'm still pretty poor. I would like to echo that its not easy but I would add Persistance, Practise and Patience. The 3 P's. Oh and a lot, a lot of patience and time. No one is overnight success in this game.
 
I'm a beginner and have had these five points banged into me some many times and I have (tried) follow them, but guess what I'm still pretty poor. I would like to echo that its not easy but I would add Persistance, Practise and Patience. The 3 P's. Oh and a lot, a lot of patience and time. No one is overnight success in this game.

Love the three P's (y) i also think that newbs tend to compare themselves with other 'expert' traders that openly discuss their winning trades, even the bible warns us not to compare ourselves to others. All the best with your trading
 
I am also newbie but want to share my view.
6. Being update yourself with latest trading news.
7. Start with demo or practice trading account.
 
I am also newbie but want to share my view.
6. Being update yourself with latest trading news.
7. Start with demo or practice trading account.

Starting with a demo account is very good. Trading news can be a hindrance though especially if you try and react on breaking news.....
 
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