It is absolutely the basic that we must have before trading. Trading with knowledge also still has risks.Moreover if trading without knowledge at first, it is pure gambling with no skill and ability.

This is one of the most difficult things in trading. Sometimes, we think that the strategy has been clear and also fixed for us, but unfortunately, it is wrong and makes us loses. This may need some trial and error, but not too much. With some experience, this will be gonna be better

Indeed, many newbies don't think about the risks that they may take before trading, they only focus on the profits at first without considering the risks that they take. We must know whether we are low-risk takers or high-risk takers.

Some other things that we must have is a good management of money to invest or trading, including we are trading for Future market or Spot market only. This needs certain money management