Very good subject for a discussion.
Good replies, so far. But I think we usually miss the point @TRADESHOCK is presenting. We cannot answer with a bunch of things we know nothing at all when we are newbies.
Risk management? => “should I buy a gun or hire a bodyguard?”.
Strategy/plan? Brokers? timeframes? what’s your trading style, scalping, intraday, swing? “Sorry, talk to me in English only!” Leverage. TA, FA. That will more likely scare the heck out of any wannabes.
How about to start with a macro perspective that help them gain the understanding they need. I would recommend this short checklist:
- Discover what trading is and what it means to make a living out of it.
- How do I prove to myself if I really want / have what it takes, to get serious about trading?
- What are the options that I have to build the necessary skills to get good at trading?
- Plan the steps of the roadmap to become a trader.
- Execute the Plan with a lot of discipline.
Of course, BP gives you a great jumpstart to all this.
Hope this helps. Regards.