Global financial markets have had a rollercoaster year in 2020, with stock markets plunging lower in March as the COVID-19 pandemic migrated from Asia to Europe and the US. With much of the globe in lockdown during this period, the outlook for the global economy was bleak. Since late March into October, however, share indices have soared back higher worldwide, with the US equity averages hitting all-time highs and European and Asian markets recouping a sizeable percentage of the Q1 2020 losses.

In addition to the stock market volatility, Forex and commodity markets have also seen an increase in impulsive market movements.

The combination of increased financial market volatility and the freedom that the global lockdown and working from home has allowed the individual, has seen a surge in the number of new retail traders and investors. However, these newbies are often uninformed and maybe somewhat blasé about the trading and investing world.

If you are new to trading, what can you do to make your journey into this new world a successful one?

3 top trading tips for the newbie (and a pointer to much more)

Education : Knowing what you are doing in anything you do in life is paramount to success. And no matter how great your natural abilities are, knowledge is key. And knowledge comes through education. Do your research on markets and trading, get yourself on a course with a reputable training provider and maybe even try to find a mentor!

Wisdom : Knowledge and education are key, but applied knowledge is also critical. The best way to apply your knowledge and progress, to thereby gain wisdom , is through practice. The best way to practice at trading and inve s ting is via a demo account. Open a demo account with a trustworthy broker, you can find one by reviewing the au.FXExplained.co.uk Broker Guide. By opening a demo account, y ou can then gain wisdom without risking actual capital.

Have a plan : Any venture that is successful in the long run needs a plan. Trading and investing are no different. Long term success in financial markets requires a strategy, which will need to be developed. Education, then wisdom (as we have mentioned) both help in building a successful trading or investing strategy. Moreover, a solid tactic or plan that you adhere to, avoids the risk of becoming too emotional about your trading and investing.

Here we have touched on three important tips for any beginner trader to try to follow to have a successful career in trading and investing.

For a wealth of advice and even more tips, go to the au.FXExplained.co.uk 28 Tips guide