I sympathize with newbies. When I was new to trading I was drawn to scalping simply because it provides quicker feedback. They are given conflicting information for an endeavor that is seemingly complex and confusing to begin with. They are told that a high percentage of retail traders lose money and that they need to approach trading differently than the masses do, but they are not told how to differentiate themselves. They are told that they need an edge but not how to obtain this edge.
Those who came before them follow different trading methodologies - fundamental, news trading, technical, quants, etc. Technical trading can be further broken down into indicator based, candle stick patterns, chart patterns, supply & demand, price action, etc. Which of these do they choose? It takes a significant amount of time to learn any one of these methodologies.
Charting is another area. Some platforms offer different chart types such as time based charts, tick charts, Renko, Point & Figure, Kagi, line charts, Line Break charts, Heikin-Ashi, and more. Which chart type should they use? Does picking a particular charting type matter? What are the advantages and disadvantages of each? Should they use a mix of chart types for an instrument?
Then there is the matter of the trading software. Most people use MT4/5 because it’s free. They don’t realize that the platform is sorely lacking in many ways because it is ancient and it hasn’t been updated with time. The tools of the trade are important to your success. (This is my opinion, Please don’t flame me or ask me to justify this.)
As if the above were not enough, there is so much misinformation on trading on the internet. One can easily be led astray and not realize it for months. What is an erstwhile newbie trader to do? How does he wade through all this and keep his sanity and account?