There are some indispensable things that new traders need to know.

[jhongzjhong]

OP statement was only a reference guide when you are on actual in the trading field. Trading is not just like easy steps by reading and you will know all. Keep on research, having fundamental skills and good strategies, that is the mean source of success when you are in trading. Indeed, OP has given a very informative idea here especially newbies that no how on trading strategy and all stated on OP must be apply on individual traders.

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[Kopyleft]

Of course one improves with experience. Learning and researching before hand makes one prepared for trading, but to survive and last long enough to actually become a trader, you need to be flexible and engage in constant learning and research.

Newbies are most likely to lose out in their early days, so a solid foundation is very important.