Many new traders want to know how best to approach trading.

What would you do different or advise if you were just starting out again?

1/My answer:
Many new traders hear of a hot stock, FOMO and greed kick in, they open an account, jump all in and most are left with a fraction of what they started with. If they are lucky and make some money they usually repeat until they end up blowing up their account.

2/Many walk away from trading at this point but often return in the future and make the same mistake having not learned from their previous experience.

3/Others realize that they were naive but recognize trading as a profession they are interested in and want to commit to learning the business.

4/When I am asked at this point for advice I usually want to understand why they want to trade. What are their expectations? What level of time and commitment are they willing to make?

5/If motivated only by greed and no real passion for the business many often walk away once they realize what is truly involved.

6/Those that are serious now get started on a education plan. I usually advise they begin by reading about traders and their methodologies. The trading wizards books by @jackschwager is a great start. So many traders and styles are covered with foundation lessons highlighted.

7/Finding an approach that appeals to you is a great place to start on the strategy component of your business. Focus on becoming an expert, find an edge, develop a strategy, and test it.

8/At the same time focus on learning all you can about money management, risk management, trader psychology, journalling, and business administration.
You are now ready to start trading small and apply the lessons learned.