knowledge is the most important for newbies in my opinion,, because you cannot make a plan or strategy if you don't have such thing.  Actually yes  there's a basic rules when it comes trading and etc which is " buy low and sell high "  but it doesn't mean thats how it realy work mate ,because indeed that's not enough and you need to educate yourself more ,which something  but related into it , because you know being lacks is the common reason why newbies end up to regrets always , So be practical and always make sure that you are knowledgeable before puting money on the line and in order to prevent losses and etc in the future.