Many stock trading tips for beginners have much in common with those tips for trading Forex, futures, as well as options.

When you are just getting started you are no doubt excited and ready to jump into the market as soon as possible. This level of enthusiasm is completely understandable as the markets are dynamic and can be extremely rewarding.

As an enthusiastic new stock trader one of the first tips I will share with you is actually very simple:

Know What You Are Doing before You Do It – Although at first glance this may seem obvious it was been the leading cause of the downfalls of many a new trader. There may be many things that you may become involved in life that will allow you to be unprepared or under prepared and still participate. Please take my word for it, stock trading is not one of those things. The best advice I can give to anyone who wants to be a successful stock trader, but doesn’t want to learn how to trade and put forth any effort, is to stay out of the markets. Now many people reading this might think I’m trying to discourage people from trading. I’m doing nothing of the sort. What I am doing is a big favor to those who really are going to approach trading in a halfhearted fashion. So for those who only want to take shortcuts please realize that taking shortcuts will leave you short-changed and unsuccessful..

Be Patient in Your Trading – We have all heard it said that patience is a virtue. This is definitely true in the world of successful trading. If someone had told me what I’m about to tell you before I actually experienced it I probably would not have believed them. What am I about to tell you? What about to tell you is that some of the seemingly most boring periods in my trading often times turned out to be the most profitable. You see, successful trading isn’t all about action and always trying to make things happen, it is about making profits over the long term.

I also noticed that I often did quite well why I was on vacation, especially when I didn’t have access to market data. I suppose both those scenarios of boredom and being on vacation being profitable might not seem logical to you. Perhaps they were very profitable for me because they were essentially times when I had the good sense to leave well enough alone. You see, by our very nature we are analytical. Analysis sometimes leads to great new ideas and sometimes it leads to us trying to “fix” something that is already working quite well. I’ve often times heard new traders say, “the system I’m using is working quite well, I just wish it traded more frequently”. There seem to be is an overwhelming need in new traders to “do something”. Keep in mind that letting your trading system do its job is doing something.

Okay, so the moral of the story here is that patience is very important in trading. It is patience that is an important component of your trading discipline. Patience allows you to stay in the trade rather than jumping in and out of trades. It also allows you to stick with a good trading system rather than jumping on the latest, greatest system of the day.

If I had anything to add to these quick stock trading tips for beginners I would simply probably reiterate that the best possible thing you can do is to learn the ins and outs of trading before you trade. Exercise your patience and discipline and view your stock trading journey more as a marathon than as a sprint.