New traders shouldn’t throw money at securities without knowing why prices move. Follow these five steps to tilt the odds in your favor.First, know yourself. What is your relationship with money? The market will reinforce whatever you believe, so learn about the psychological issues associated with money. Next, study the trading game, including ideas that seem irrelevant. Trading is a journey that often ends at a surprise destination, but a broad knowledge base is handy no matter where you go. Follow the market daily. Read all you can about price actions and foreign markets. Learn to analyze through technical analysis. Traders live and die by price actions that diverge sharply from a company’s fundamentals. Spreadsheets offer an edge to anyone who reads them regularly. After you’re comfortable with technical analysis, learn to predict prices. Prices can chop sideways or whipsaw violently in addition to going up or down. Most trading opportunities unfold over short-, intermediate- or long-term intervals. Finally, take baby steps. Paper trading, or simulated trading, lets a beginner practice making trades and trying different strategies to find their flaws. But remember, paper trading cannot replicate the greed and fear experienced by traders in real time.