Nice beginner guide and advice, but you failed to mention an important point that can help the beginner to minimize the risk involved in trading and reducing losses which are to trade with a small amount as a beginner and not get greedy by putting in large sums of money because of the potential profits most especially in future trading which is almost same as gambling.
Investing with a bigger amount at first due to greed will only increase the chance of losing. Hence, it’s not advisable to do it, instead start with minimal amount and never be greedy enough to expect quick returns because that will lost your focus in trading. Know that trading requires more focus and persistence, that’s why you need to trade at your own risk, and at the capital you’re free to lose.
You would 101% lose all of those capital that you had put up on doing trading specially when you are a complete newbie, this had been always the case for most beginners on which they do have that kind of thinking and impression that they could handle themselves easily on trading field or playing along with the market but once that reality would slap into their faces then this is the time that they would really be making realizations that its never been that simple nor easy on doing so. The most ideal thing to do first is to stick with the basics, learn up the necessary terms and other things which needs to familiarize first, if its needed for you to go demo trades then do it but it would be recommendable on doing live trades but using up on the less amount which you could only afford to lose and on the time that you do make trades then try to learn up things along the way.
Never ever make yourself put in a hurry when dealing up with the market, you cant really just able to make things to be that a pro in a short time. You would really be able to experience lots of trials and
errors when it comes to this matter.