I started out as a trader, using technical analysis, and though am mostly into long term investing now, I still maintain a small trading account. Here is a thread on a few suggestions, based on my experiences, for those who are new to trading. (1/n)
1. Trading is hard, actually make that very, very hard. There is a reason why over 95% of short term traders fail. If you succeed, you will be an exception rather than the rule. (2/n)
2. Start trading only with money you can afford to lose, not money you need to pay next month's bills with. The market demands its tuition fees. (3/n)
3. There is no holy grail for trading. No system can guarantee 100% winning trades. Impossible. Don't waste time searching for such a system. (4/n)
4. The market does not care for your opinion. The market is always right. (5/n)
5. Trying to catch exact tops and bottoms is a fools game. Good for your ego, dangerous for your money. (6/n)
5. Don't think a stock is cheap only because it might have fallen 50% in the last couple of months. (6/n)
6. The desire to avoid losses only leads to more losses. Losses can not be avoided. (7/n)
7. Averaging down is the easiest way to blow up your trading account. (8/n)
8. Take care of the risk. The rewards will take care of themselves. (9/n)
9. Take responsibility for your actions. Never blame the markets or its participants. You learn nothing that way. Except how to lose your money. (10/n)
10. Stop loss. Stop loss. And yeah, one more thing.....stop loss.

That's it! (11/11)
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